Industry, Market, and Financial Feasibility

With this assignment, you will be addressing the fundamental question: Does this business have profit potential?
Referring to the same business you either started or purchased in the first assignment, write a three to four (3-4) page paper in which you:
Conduct a feasibility analysis in which you research:
Industry and Market Feasibility
Product or Service Feasibility
Financial Feasibility
Entrepreneurial Readiness
Based on your assessment, does the business idea need to be modified, changed significantly, or abandoned? (Note: If you abandon the business idea, then you will need to select and analyze a new business that has profit potential.)
Include at least two (2) references outside the textbook.
Assignment 1: Creating an eCommerce Business
BUS 402 – Small Business Management
Creating an Ecommerce Business
Overview
MoveUp will be a little web-based business fire up that will enrich the school and college understudies with the chance to buy, exchange, and sell their reading material, notes, and other instructive material. The objective market of MoveUp will include almost 1 million understudies having a place with schools and colleges in the United States. MoveUp will encourage the understudies in purchasing, selling, exchanging recycled course books, and other instructive materials straightforwardly to different understudies. This web-based business stage will be helpful for both the buyers and merchants. For example, it will permit the dealers to sell their trade-in books and get cash through it will encourage the purchasers to buy reading material, class notes, CDs, and other instructive materials at moderately minimal effort. There will be an arrangement of books accessible for trade on the internet business stage. For example, course books from various scholars of various subjects will be made accessible. MoveUp by consolidating the web innovations and showcasing aptitudes will set up itself as the main online understudy to-understudy commercial center (Rayport and Jaworski., 2002). The organization intends to make an effective answer for the understudies and simultaneously create benefits. MoveUp means to get a huge offer in the commercial center through its excellent supervisory crew, complete advertising methodology, broad space understanding, and top-notch programming.
Objectives
​The objectives of MoveUp are as follow:
• To attract at least 50,000 users in the initial year,
• To attain 10,000 visits every month
• To make significant profits in the first three years of the start-up
• To become the main understudy web based business stage.
Keys to Success
​The achievement of MoveUp will lie in its ability to execute its plan of action. The organization will enlist able advertising and supervisory crew alongside broad space. It will start extraordinary promoting efforts to pull in a huge number of purchasers. To make progress and improve its benefit, the organization will offer one of a kind just as inventive items and administrations.
Key Competitors
​As the idea of E-business had thrived in the ongoing occasions, different organizations have risen that sell online books. Powell's book is one such organization. The significant quality of the organization is the broad usage of E-trade to sell books. Different qualities of the organization incorporate client accommodation, cost viability, least physical resources just as overhead charges on the distribution centers (Lee., 2001). Then again, the shortcoming of the organization is a reliance on outside conveyance administrations for conveying the books and high site upkeep cost.
MoveUp will achieve a serious edge by concentrating on the procedure rather than the item. The redid site of MoveUp will drive the enthusiasm of the understudies in the organization. Thusly, the site of the organization will be planned as per the requirements of the understudy. At first, the site of MoveUp will be goosed through an outer web-facilitating specialist organization; accordingly limiting the underlying beginning up costs. The organization will buy fundamental programming for speeding the way toward buying and selling of Textbooks.
Mission Statement
​The mission of MoveUp is to supply the school and college understudies with the one of a kind stage for trading course readings, class notes, classifieds, and different materials just as data. The mission of MoveUp is grounded on the way of thinking of keeping clients and representatives fulfilled.
Ownership of the Business
MoveUp is a Limited Liability Company and is owned by myself. Then the strength of MoveUp stems from its competent management team comprising of highly proficient members. The incorporation of technological advancements also provides strengthen to the company. The owner of MoveUp recognizes that additional staff is essential for support functions, research, and sales. Initially, the management of MoveUp will include three people with considerable experience in graphic design, website architecture, and e-commerce strategy. Apart from this, the company will require employees within the areas of customer support, administration, human resources, sales, marketing, and web development.
The start-up expense of the company includes SSL Encryption, Domain name registration, legal fees. Site hosting, and utilities. It is projected that the total expenses of the company will be approximately 20,000 million dollars. To implement a launch strategy and marketing campaign initially, MoveUp will seek investment from external sources. Also, the investment will incorporate operational expenses. Maintenance, additional website enhancement, and persistent marketing campaigns.
Marketing Strategy
​The objective market of MoveUp will principally remember understudies from schools and colleges for the United States. The prevalent plan of action of MoveUp relies upon understudies selling and buying course readings, notes, and other instructive materials. To draw in an enormous number of understudies the nation over, the internet business organization will receive broad advancement methodology. The destinations of the limited time methodology will be to draw in buyers and simultaneously create income, empower the organization to get a serious edge in the commercial center, and improve brand name acknowledgment and friends mindfulness. Thusly, MoveUp will advance its E-trade benefits through redid Facebook pages and Twitter accounts. Internet-based life is considered as one of the best limited-time devices since an enormous number in the nation spend impressive hours via web-based networking media. Accordingly, this limited-time device will encourage MoveUp to get consideration of a critical number of purchasers. Besides, MoveUp will likewise advance its administrations on the official gatherings of various colleges and universities.
References
Lee, C. S. (2001). An analytical framework for evaluating e-commerce business models and strategies. Internet Research, 11(4), 349-359.
Rayport, J. F., & Jaworski, B. J. (2002). Introduction to e-commerce. McGraw-Hill/Irwin marketspace