Business cycle and pro-forma research paper (read assignment prior).
My proposal for an online auction business will need a team consisting of me as the CEO and investor, web designers for the creation and maintenance of the site, and software engineers who will develop and manage the platform on which we will operate. With my prior entrepreneurial experience in e-commerce solutions consulting combined with my degree in business administration from XYZ University, I am well versed on all facets of operating an e-commerce business—from sale strategies to customer service operations to financial management (Jones & Smith, 2020). My cofounder has extensive experience in managing digital businesses. He started out as a freelance web developer/designer at college and worked on WordPress sites since then (Gandhi, 2017). Last but not least, our software engineering lead comes with over ten years’ worth of programming knowledge throughout various verticals including social media applications development and enterprise backends architecture designing along with two separate degrees related to computer science (Turner et al., 2016). Our trio is capable of working together and should have the ability to provide all necessary skills to make this project a success.
Statement of Competitive Products or Services
i. A market analysis to show how this venture’s product or service competes with similar products or services in its market
ii. To maximize profit margins, include how this venture may produce the product/service efficiently.
The online auction system is different from other options because it allows users to control the bidding format and gives them purchasing power. However, they don’t have to worry about losing their final offer due to a glitch after submission (King et. al. 2019, 2019). Every applicant must register using an individual account that allows them track bids submitted before time runs out item closes meaning if someone enters late wouldn’t have ability cancel offer like preceding participants could potentially do if problem arises afterwards resulting tangled mess everyone involved middle transaction has pay regardless end result remains same especially case virtual currency use instead actual money option – though security protocols built into protect customers’ best interests obviously important factor here too . We are able to achieve breakeven faster than other niche companies due to our efficient production.
Pre-opening Budget for Construction
Kudler Foods could use model portions.
ii Includes costs related to venture’s first sale, however there must be enough working capital to pay for operations up until profits are covered.
We plan on investing around $25000 upfront into getting everything set up – web hosting/online store design/domain registering fees + hiring dedicated staff members develop manage entire system properly – plus additional expense launching marketing campaign get word across different advertising channels cost us close another 12k dollars least begin build substantial user base start making profits later down road . Additional funding will be required to purchase stocks from existing wholesalers at 1500 USD. However, this figure is subject to change depending on the factors being considered.