Products & services page 10 of business plan

Anonymous
timer Asked: Apr 3rd, 2019
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Question Description

For an Ecommerce Business

Do you sell a physical product, a service, a digital product (such as eBooks) or some combination of these?

If selling physical products, how do you brand and package them?

Do you sell on your own website, online marketplaces (such as Amazon) or both?

What technology providers and platforms do you use to run your ecommerce site?

o Web hosting service

o Web design service

o Shopping cart provider

o Payment processing service

o Fulfillment & shipping services

o Email marketing services

Can the solutions you’ve chosen quickly scale up or down as needed?

Where do you get your products? Do you manufacture them in-house, buy them from manufacturers or use drop shippers?

What are your customer service policies? Are they consistent with industry expectations?

Do you use any proprietary technology of your own? If so, what advantages does that give you?

Does your business also have a brick-and-mortar store, or is one planned for the future?

Unformatted Attachment Preview

Team Project MGMT 3060 • Develop a business plan to purchase an existing business or to start a new business. • The company should be a fictitious business but it can be based upon an existing business. • Three years of data are required for cash flow and financial planning • Business can sell to other business (B2B) or to consumers (B2C) • Teams should be comprised of 8 or 9 members Due Dates and Grading • Dates: • Proposals • Draft Paper (optional) • Business Plan and Presentations • Grading: • • • • Business Proposal Written Business Plan In Class Presentation Team- member Evaluations 10% 40% 40% 10% Approval by March 5 By March 21 March 26,28 April 9,11 Project Components • Proposals • 5- minute presentation thesis format. Must be reviewed with me during office hours, or after class by appointment, before March 5. • Written Business Plan • Paper, 10 to 12 pages. Double spaced, 1” margins, reference page required. Times New Roman or other easy to read font. Spelling and grammar count towards the grade. • Presentations (8 to 10 PowerPoint type slides) • In class, 10 to 12 minute presentation (maximum time strictly enforced) • Peer review of presentations • Peers must make a confidential evaluations of each team member’s contribution to the plan. Financial Plan Requirements 1. Startup costs (Fixed Costs) 2. Three year projected income statement 1. Revenue (sales) 2. Operating expenses including: 1. 2. 3. 4. Facilities costs (Rent, utilities, insurance, etc.) Material costs Labor costs including contractors Other expenses such as Accounting & Legal, postage, office support / supplies 3. Net profit / loss (EBITDA) Team Project MGMT 3060 • Have fun • Get started early • Define team member responsibilities and due dates • Do several dry runs of the presentation • If you encounter non participation let me know ASAP. I can’t do anything about it if you wait. • View this as a positive “real world” learning experience II. Company Description 2.1. Company mission statement 3-D Jewelry Creations is an online printing service specializing in 3-D Jewelry. Our mission is to provide a unique and affordable experience for our guest and their loved ones. 2.2 Company philosophy and vision Teamwork: The printers aren’t the only ones working on your design. We all group up and go over your design, color scheme, and jewels to make sure it is exactly how you imagined it. Fun: Just let your imagination run wild and release your inner Van Gogh. Caring: For our company love is the important factor when it comes to creating your design. We maintain that love by being respectful to our customers and everybody involved with the company. Customer-oriented: When we create your one of a kind designs we put yours and your loved one’s satisfaction at the top of our list. We make sure that you’re receiving a product that we would love to receive. We want our business to continue giving customers and their loved one a warm loving sensation when receiving the finished product. With that in mind, we hope once our reputation and sales grow our ecommerce can soon partner with other jewelers. So, we can continue to spread the love and happiness all around. We want to be known as the top 3-D jewelry printing service that always has the customers satisfaction in mind. 2.3 Target market Our target customers range from 18-25 years old and to any gender who loves trend setting jewelry! 2.4 Industry Our 3-D Jewelry printing service is being considered as the next revolution in the additive manufacturing industry. In the article “3-D Printing Trends 2018: Growth Continues”, the author Bala Yogesh mentions a report made by SmarTech Publishing’s. In that report states that the industry grew 24% in 2018 which gives a total market value of $9.3 billion. The numbers in that report indicate growth in the industry thanks to 3-D Printing. Short-term the industry looks like it has a few challenges – adoption of 3D printing, manufacturing stakeholders who have concerns, limited selection of materials, cost, etc. While long term… Our business will take advantage of projected industry changes… We will also take advantage of projected industry trends… What will happen to our competitors… Our business will successfully compete…. 2.5 Legal Structure 2.6 Company History 2.7 Key Strengths and core competencies 2.8 Significant challenges the company faces 2.9 Company goals II. Instructions: Company Description This section explains the basic elements of your business. Include each of the below: 1. Company mission statement A mission statement is a brief explanation of your company’s reason for being. It can be as short as a marketing tagline (“GettingFit is an app that helps motivate users to exercise in a fun, convenient way”) or more involved: (“Grand Place is a senior day-care center specializing in dementia patients. Our mission is to provide service, safety and a family atmosphere, easing stress for dementia patients and their caregivers alike.”) In general, it’s best to keep your mission statement to one or two sentences. 2. Company philosophy and vision a. What values does your business live by? Honesty, integrity, caring, innovation and community are values that might be important to your business philosophy. b. Vision refers to the long-term outlook for your business. What do you ultimately want it to become? For instance, perhaps your goal for your senior day-care center is to build a national chain or add more senior-care services to your offerings. 3. Target market You will cover this in-depth in the Marketing Plan section. Here, briefly explain who your target customers are. 4. Industry Describe your industry and what makes your business competitive: Is the industry growing, mature or stable? What is the industry outlook long-term and short-term? How is your business taking advantage of projected industry changes and trends? What might happen to your competitors, and how will your business successfully compete? 5. Legal structure a. Is your business a sole proprietorship, LLC, partnership or corporation? Why did you choose this particular form of business? b. If there is more than one owner, explain how ownership is divided. If you have investors, explain the percentage of shares they own. This information is important to investors and lenders. 6. Company history Tell the story of your business, including how long you've been in business, any previous owners of the business, an overview of your sales and profit history, how many employees you have and your business’s reputation in the community. Highlight past successes, but also mention your failures and what you learned from them. Explain the most important challenges you faced and how you overcame them. 7. Key strengths and core competencies What is your business’s core competency? What are its competitive strengths? What strengths do you personally bring to the business? 8. Significant challenges the company faces Explain the biggest challenges your company faces, both now and in the near future. If your plan is intended to help you get financing, explain how the money will help you meet these challenges. 9. Company goals What are your plans for the future? These might include growth, diversifying your products or services, increasing production or selling the business. Specify both short- and long-term goals, as well as the benchmarks or milestones you plan to use to measure your progress. For example, if one of your goals is to open a second location, milestones might include reaching a specific sales volume or signing contracts with a certain number of clients in the new market. After reading the Company Description, the reader should have a basic understanding of your business’s mission and vision, goals, target market, competitive landscape and legal structure. Use the Company Description Worksheet on the next page to help you complete this section. 3D Printing: The Next Revolution in Industrial Manufacturing NEW RESEARCH FROM UPS AND THE CONSUMER TECHNOLOGY ASSOCIATION (CTA) INTRODUCTION MARKET COMPOSITION 3D PRINTING VS. TRADITIONAL MANUFACTURING EXPERT PERSPECTIVES INDUSTRY CASE STUDIES WHAT’S NEXT IN 3D PRINTING INTRODUCTION 3D printing: An overnight success? The technology for 3D printing has roots that go back decades. The minds behind it were visionary. But for many years, 3D printing appeared – at least in the mainstream view – to be more of a novelty than a practical tool to advance commercial manufacturing. 3D printers created one-off trinkets, souvenirs and not much else. And business leaders often were skeptical that 3D printing would ever advance enough to be an integral part of manufacturing. Nevertheless, we are now seeing that 3D printing has reached an inflection point as lower costs and technological advances have put it within reach of more people. That’s the most common use because it allows for a more agile design process and rapid product iterations. Some of the more progressive users are exploring larger-scale parts production for existing products. Meanwhile, we at UPS are taking a closer look at 3D printing as a complement to our supply chain and logistics business. We’ve long recognized the disruptive potential of 3D printing, and we intend to help the customer supply chain stay ahead of the curve. UPS recently partnered with the Consumer Technology Association (CTA) to conduct in-depth interviews with U.S. companies that are early or recent adopters of 3D printing. We wanted to learn more about the factors that influence the adoption of 3D printing. This study also compiles published research and forecasts from thought leaders and analysts. Our conclusion: 3D printing presents compelling business opportunities. Companies that wait too long to explore the potential could be missing out. UPS is proud to present this study, which offers valuable insights into the current and future trends for industrial 3D printing. Derrick Johnson Vice President of Marketing at UPS PAGE 2 INTRODUCTION MARKET COMPOSITION MARKET COMPOSITION 3D PRINTING VS. TRADITIONAL MANUFACTURING EXPERT PERSPECTIVES INDUSTRY CASE STUDIES 3D Printing is a Multi-Billion Dollar Market and Growing 3D printing: A $7.3 billion market Researchers estimate that the 3D printing market will reach $7.3 billion in 2016. The primary market – including 3D printing systems, materials, supplies and service – has grown at least 30% each year from 2012 to 2014. The rest of the growth comes from the secondary market, including tooling, molding and castings. Western countries (North America and Europe) account for more than two-thirds (68%) of the 3D printing market revenue and Asia Pacific accounts for 27%. The consumer electronics and automotive industries each contribute 20% of the total 3D printing revenue. These early-adopter industries use the technology primarily during the prototyping stage of production. For example, smartphone manufacturers are slowly using 3D printing for more than just prototyping—some component parts are now manufactured with 3D methods. The medical device industry (15%) is the third largest 3D printing market and uses 3D printing for mass customized finished goods such as hearing aids. Interesting fact: 98% of hearing aids worldwide are manufactured using 3D printing. SOURCE: “Wohlers Report 2015: 3D Printing and Additive Manufacturing State of the Industry Annual Worldwide Progress Report”, Wohlers Associates, 2015. WHAT’S NEXT IN 3D PRINTING $21B $13B $4B 2013 $6B $7B 2014 2016 2018 2020 3D Printing Market Revenue by Geography 40% North America 28% Europe 27% Asia/Pacific The U.S. hearing aid industry converted to ~100% 3D printing in less than 500 days. PAGE 3 INTRODUCTION MARKET COMPOSITION 3D PRINTING VS. TRADITIONAL MANUFACTURING EXPERT PERSPECTIVES INDUSTRY CASE STUDIES WHAT’S NEXT IN 3D PRINTING MARKET COMPOSITION Top Uses for 3D-Printed Goods Manufacturing, a market ripe for disruption Despite significant growth, there is a wealth of untapped potential in 3D printing. In fact, 3D printing represents only 0.04% of the global manufacturing market, with prototyping as the leading use today. Wohler’s and Associates believes 3D printing will eventually capture 5% of the global manufacturing capacity, which would make 3D printing a $640 billion industry. 18% Fit and finish components 29% 10% Molds and tooling Functional parts 10% Much of the opportunity lies in parts production – the fastest-growing 3D printing application. The use of 3D printing for parts production grew from virtually zero in 2003 to 43% ($1.8B) of global 3D-printed product and service revenue in 2014. Visual proof of concept 3D-printed parts are currently being used most for functional parts (29%), prototypes (18%) and visual aids (10%). This is a market ripe for disruption. Technology adopters that move beyond prototyping to use 3D printing in supporting and streamlining production can achieve new manufacturing efficiencies. Plus, there is an enormous opportunity for companies that get it right. In 2015, 3D-printed manufactured goods represented less than 1% of all manufactured products in the U.S. SOURCE: “Wohlers Report 2015: 3D Printing and Additive Manufacturing State of the Industry Annual Worldwide Progress Report”, Wohlers Associates, 2015. PAGE 4 INTRODUCTION MARKET COMPOSITION 3D PRINTING VS. TRADITIONAL MANUFACTURING EXPERT PERSPECTIVES INDUSTRY CASE STUDIES WHAT’S NEXT IN 3D PRINTING Top Reasons to Pursue 3D Printing 3D PRINTING VS. TRADITIONAL MANUFACTURING 25% Prototyping Technology trade-offs 16% 9% 3D printing is not a one-size-fits-all solution. For high volume, standardized applications, traditional manufacturing is likely the answer. Product development Cost reduction 10% When is 3D printing the answer? The top reasons for pursuing 3D printing are: 11% Increased efficiency · prototyping (25%), Innovation · product development (16%), and · innovation (11%) 3D Printing vs. Traditional Manufacturing 3D printing can speed development and delivery for customized products and bring increased flexibility through better inventory management and real-time production of products with variable demand. Other advantages include manufacturing advantages for small batches, cost advantages based on efficiencies for certain applications and unprecedented flexibility in new markets. 3D printing also can improve quality through lighter parts, better ergonomics and more design freedom. However, low process stability can negatively impact quality; and low reproducibility can negatively impact product durability. It’s critical to consider needs and priorities to make the decision between 3D printing and traditional manufacturing. Like everything else, there are benefits and trade-offs. VOLUME COST PER UNIT TIME TO MARKET COST OF COMPLEXITY Small batch, Highly customized High variable costs, No fixed costs Very fast (≤ 1 day) No higher than simple parts Large batch, Not customized Low variable costs, High fixed costs Very slow to moderately slow Much higher than simple parts 3D PRINTING TRADITIONAL 3D printing is displacing some traditional manufacturing methods such as metal extrusion, computer-controlled machining and manual modeling techniques for prototype development manufacturing. PAGE 5 INTRODUCTION MARKET COMPOSITION 3D PRINTING VS. TRADITIONAL MANUFACTURING EXPERT PERSPECTIVES INDUSTRY CASE STUDIES WHAT’S NEXT IN 3D PRINTING EXPERT PERSPECTIVES 3D Printer Intenders vs. Current Users 3D printing adoption CURRENT USER INTENDER Current Users: Two thirds of manufacturers already use 3D printing in some way, and 25% plan to adopt the technology in the future. Despite these numbers, the full potential of 3D printing is far from tapped. Intenders: Thirty-two percent of current users don’t believe their company is fully leveraging the advantages of 3D printing while 45% of intenders would use the technology more if benefits were better understood by their company. Influencers: The primary influencers driving companies’ 3D printing strategy are managers in R&D, engineering and or manufacturing. Demonstrating the benefits of 3D printing to these audiences is crucial for driving increased adoption. Believe that manufacturing service providers will play an increasingly important role in the future of manufacturing 61% 40% Have already started to rethink product design to better leverage 3DP design capabilities Are now doing more 3DP in-house that used to be outsourced in the past Do not believe company is fully leveraging the advantages of 3DP Would use 3DP more if company better understood the benefits SOURCE: “Trend Forecast: 3D Printing’s Imminent Impact on Manufacturing”, Stratasys Direct Manufacturing, 2015, https://www.stratasysdirect.com/content/pdfs/ sys_trend-forecast_v10.pdf. 50% 28% 40% 7% 32% 49% 25% 45% PAGE 6 INTRODUCTION MARKET COMPOSITION 3D PRINTING VS. TRADITIONAL MANUFACTURING EXPERT PERSPECTIVES INDUSTRY CASE STUDIES WHAT’S NEXT IN 3D PRINTING EXPERT PERSPECTIVES 3D Printing Tackles Supply Chain Challenges Supply chain impacts 3D printing has the potential to shake up supply chains by positively impacting parts manufacturing, inventory costs and lead times. Parts sole-sourced from suppliers For example, 3D printing can help companies meet demand in real time in situations when long lead times are a problem. It also can help lower inventory costs by enabling companies to maintain a virtual inventory and print parts as they need them. 3D printing can be used in centralized* and decentralized** networks; however, research has shown that using 3D printing in decentralized networks has a measurable impact on the supply chain. High inventory costs Long lead time Parts are expensive to manufacture Remote locations High import/ export costs Limited functionality *Centralized networks: Manufacturing at a single location or through a chain of single locations, focused on production efficiency. **Decentralized networks: Production is spread out and closer to the consumer. PAGE 7 INTRODUCTION MARKET COMPOSITION 3D PRINTING VS. TRADITIONAL MANUFACTURING EXPERT PERSPECTIVES INDUSTRY CASE STUDIES WHAT’S NEXT IN 3D PRINTING Three Real-Life Examples of Consumer Electronics Companies Using 3D Printing INDUSTRY CASE STUDIES Consumer electronics Present Applications 3D printing has generated positive results for the consumer electronics industry through prototype development, new product and concept designs, and parts prototyping. For example, a large consumer electronics company reduced design validation times from one week to one day, significantly improved fit and finish, and created better products through 3D printing. A large computer accessories company saw a return on its initial investment in just eight months of 3D printing use. A small consumer audio company experienced improved processes and workflow by using 3D printing for customized assembly components. LEVEL LARGE CONSUMER ELECTRONICS COMPANY LARGE COMPUTER ACCESSORIES COMPANY SMALL CONSUMER AUDIO/HEADPHONES COMPANY Early adopter Established user Recent adopter Prototype development PROTOTYPING USES New product & concept design Prototyping parts Prototyping models Customized assembly components Show models Future Applications The next big 3D printing opportunity for the consumer electronics industry is in smartphones, which comprise an estimated 35% of total consumer electronics sales. Smartphone manufacturers are slowly moving beyond prototyping applications for 3D printing with more growth projected in the near future after advancements in materials and equipment. “Our prototype turnaround time reduced from 3-6 months to 2 ...
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