Online shoes business idea report docs
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Wall Street Shoes is an online footwear business established in 2014, specializing in high-quality, handmade men's shoes with unique designs and a customization option. Targeting the middle and upper classes in Pakistan, the company's business model is based on direct sales to consumers (B2C) and offers a range of payment options, alongside a commitment to customer care and loyalty programs. The company utilizes social media for marketing and leverages a supplier for handmade products, emphasizing a strong focus on customer satisfaction and quality assurance.
Online shoes business idea report docs
- 1. WallStreet Shoes Submitted By: Please pray for me reader Department of Management Sciences CASE Business School, Center for Advanced Studies in Engineering 19-Attaturk Avenue, Sector G-5/1, Islamabad Pakistan
- 2. Table of content NO, Subject 1 INTRODUCTION OF OUR BUSINESS 2 BUSIINESS MODEL 3 OUR TARGET MARKET 4 SWOT ANALYSIS 5 HOW WE VALUE OUR CUSTOMER 6 OUR SUPPLIER AND EXISTING OUTLET 7 MARKETING STRATEGIES 8 KEEPING TRACK OF OUR CUSTOMER 9 PRODUCT PURCHASE CYCLE 10 PAYMENT OPTION 11 CUSTOMER CARE 12 REVENUE MODEL 13 WEBSITE DEVELOPMENT 14 PRODUCTS DESCRIPTION
- 3. Introduction Wall StreetShoes is a product oriented online business providing men’s shoes. Currently company is covering and selling its products throughout the Pakistan and planning to cover the area beyond the national limits. The company was established in December, 2014. We comprised on 3 team members. Business model Basically our online business model is to sell handmade unique design, high quality, Smooth and light weight shoes that fulfill the fashion need of men regarding footwear. There are lots of online shoe businesses but none of them are currently providing such high quality and unique designs .Currently there are lot of online shoes selling website but none of them are providing the facility of shoe customization. So we decided to take first step in market and introduce first time in Pakistan the facility of shoe customization on our website. Currently we are providing the facility of selecting favorite color, comfortable heel and inner stuff. In near future we are planning to introduce more customization options as well. Business to consumer (B2C): Basically we are selling our productdirectly to our customer so our business model is Business to customer. Our Target market: Our currenttarget market for our shoes business is middle and upper class such as office employees, university going and business class people. we are providing decent and unique hand made products as per the requirement of the customers looking products so weexpect that our products will be purchaseby the people who are related to these class.
- 4. SWOT Analysis: SWOTanalysis is the analysis of Strength, weakness, opportunity and Threats of our online business Strength of our Business: Firstonline shoecustomization facility Feasible mode of payments More stylish and quality products as compareto our competitors Weakness of our Business: Low profit margin Currently having few categories Opportunities of our Business: Due to social media increase in internet users Starters to shoe customization trend in Pakistan Threats to our Business: Increasein online shoebusiness shop Threat of competitor entering in online business. How we value our customer: We are the only online shoebusiness in Pakistan which are providing the facility customizing shoes according to our customer desire. Following are the options that we are providing to our customers 1) Color customization in a. Suede b. leather 2) Heel customization following are the types of heel customization which we are providing which are
- 5. a. Horseman heel, b. Roper heel c. Futurity heel d. Riding heel 3) We are also providing inner material customization following are the inner material customization which we are providing a. Textile b. Synthetic Our supplier and existing outlet: We have contractwith a shop who made handmade shoes which is based in I-8 islamabad. Currently they have no online business so we talked to them and we decided to open an E shop for them once we get the order we forward thatorder to our shop warehouseand when order will be complete we will ship the order to our respected customer. Marketing strategies: The top mostmarketing priority of our productis by the most used and free platformwhich is Social media. As we made our website (www.wallstreetshoes.biz) As wehavealready linked our website to our facebook fan page in near futurewe are planning to link our website to other social media accounts as well like twitter, pininterest that’s how we market our brand. Similarly we are also planning on promoting our websiteto someother Pakistani websites like OLX, Pakwheels wheremostly people visit it. We are also planning of promoting our website through printmedia or a radio adds. Keeping track of our customers: Once customer made one purchasefromour website we will regularly update them aboutour new arrivals, and also if we are going to provideany discount offer, through email and sms.
- 6. Product purchase cycle: Payment options: Currently there are two types of payment options which we are providing Direct bank transfer: This is the option in which we provideour customer with the direct bank account number of our company.so they transfer theamount of their respected purchase. For this purposecustomer can easily transfer the amountby the online banking 1.Browse throughover differentproducts Choose yourdesired customizationforyour product Enter yourdetail and select methodof paymentandcomplete your otherrequired information. Wait forconfirmation call of yourorder Sitback and waitfor your order.
- 7. facility of their respected bank account and can transfer the amount online from their bank accountto our company’s bank account Cash on delivery: This is the most convenient way of payment for our customers. After ordering their purchasethey can select the option of pay on delivery in this process if the amount is 3000 they will pay amountto order deliver person but if the amount is more than 3000 they will receive a advancepayment letter fromour company in which they have to pay 50 percent of amount advancethe letter will be delivered through TCS or any other mean of delivery. Once they paid the advance payment we will forward their order after quality and controlinspection of their respected order they will receive order within 15 days and will have to pay remaining 50 percent amount on time of delivery. Easy paisa: Currently this option is not added but in near future we are also planning to add this options in our website for our customer ease. In easy paisa they have to send amount to our easy paisa account through their mobile number and national identity card after receiving amount wewill forward their order within a week Customer care: Replace warranty: We are providing a money back warranty if productis found to be faulty within the useof one week. We will always try to deliver quality and flaw less product but if productis found to be guilty of any defect it will be replaced or repaired for free of cost. Customer loyalty: We will try to maintain our customer loyalty with bonus coupons or sale coupons so every time a customer make a purchasethey will be rewarded a coupon points
- 8. so next time if they refer someother person through our coupon they will get discounted on their purchase. Revenue model: In our revenue model we have planned a strategy to earn revenue through each purchaseour customer make. We will have percentage profit on each sale between us and our shoemaker, profit of our business depends individually on each sale and our shoe item which is being ordered. Website development: For website development we have used following tools Theme: We have used pro business theme the benefit of using this theme was it already has option of installed plug inns so this feature has benefited us. Woo commerce: Following tool is used to add Products as our business idea is related to sale so for us woo commerceis essential tool for our project. We haveused woo commerce to add products and as well as their attributes. Our products attribute includes color, size, heel, and inner stuff. Woo commerce is also providing us the facility to providecheck out option in which we havealso provided the differentpayment options or deal with our pending orders. As we are providing a customization option in our products here is the Attributes option of woo commerce help us create attributes of our products for this purposeweclicked on our productand after that we clicked on option
- 9. General after that we selected what kind of data this product has so we selected Variable product data by clicking variable data it enabled us option of variables. After that we clicked on attributes and enter the name of each attribute in values we given values according to our attributes values are basically options which will later appear in our productpage After that we clicked on Variation page and in last of this page we clicked on Link all variation. by clicking it we finally added our attributes of each products. Revolution slider: We have used revolution slider for the decoration purposeof our website as a productselling website it is important for us to give a slide show of our most attractive items on the frontpage of our website. By the help of this tool we can show as much slides as we like on frond page for this purposewe haveused New transparentslide>Add layer image>Add layer of text After that we have selected the font which we want to display by clicking on Style by matching it with our productcolor on each slide in last we haveclicked on update slide Next Script Social Network auto poster (face book integration): Note: we can access auto poster in setting of admin panel Next scriptsocial network auto poster is a word press plug in which helps us to keep our business or websiteconnected to our official business websitesocial media page. This tool automatically postwhatever new item, post, or product you poston your official business website. There is option of turn off the auto poster which is helpful while publishing new postto your website as new productdetails are not complete and if you want to publish it on your official fan page once the detail is complete.
- 10. For now we have only created a face book fan page for this purposewe have went to facebook and created a fan page of our website after that we havewent to https://developers.facebook.com/ after that we have clicked add an new app button after that we have clicked advance setting button after that we have given a display name as “Next script” and a category as a “Communication” after that we haveclicked on create app which give us a unique aap id and App secret Right below of page there was a button name as “Add platform” we have clicked on it. As we see it has forward us to new page here we only clicked on “website” icon Here we see another window weclicked on “Basic” here we havegiven app domain as www.nextscript.com In site URL sectionwe have giventhe URL of our official business website. After that we clicked on “App live” button as On so it can be seen by every one after that we clicked on submission button. Now connecting our word press to face book Firstof all we haveLogin to our Word Press Admin Panel then wewent to the Settings->Social Networks Auto Poster Options. After that we have Click green “Add new account” button then we selected “Face book” fromthe list. After that we filled our “Facebook URL”, after that we filled Fill “App ID” and “App Secret”. After that we clicked on “facebook authorized account”
- 11. After that 2 authorization messages appeared and we clicked okay two times. After that our auto poster was ready to post. Product description: Following are the detail of products which weare providing Zip boots: Zip boots is one of our product which we are providing this product is made of high quality leather as most of boys like to wear zip boots so keeping that need in view we have created zip boots named as “Show stoppers” we are also providing an customization option of inner stuff, color or a heel in this item so customer can select as they please. Loafer’s shoes: We are also introducing new suedeand leather look loafer’s shoeone item named as Moccasins loafer’s shoes Special about these shoes is that they are made of light weight Suede material with unique style buckle on their front we are also providing loafers made of high quality leather and unique design. We are also providing flat loafer shoes with unique leather designing on the front.
- 12. Wall Street Men’s Military style boots: We have created unique military style boots by the combination of leather and suede material. These boots have stylish military look which is unique of its kind with light brown or silver suede material with leather give it eye catching look. We are also providing customization in these boots as well. Wall Street Men’s Crocodile Italian shoes: These boots are made up of high quality polished leather. We named it after its unique pattern on the frontportion of boots which is quite similar to crocodile skin. Due to unique crocodile pattern on the front portion of shoes it gives them a
- 13. eye catching and appealing look in addition to that we are also providing customization in these shoes as well. Wall Street Men's Dance Floor shoes: With high quality Suede material these shoes are one of the attractive shoes offered by Wall Street. These shoes have unique design of strip like high quality shinny leather along unique design buckle on them which provide them unique and attractive look for our customers. They can be used for dance or any occasion our customer like them to use.
- 14. Wall Street Men's Prime shoes: Wall Street men’s prime shoes are unique of its kind due to attractive designing on the front portion of leather with laces. These shoes are also a combination of suede and high quality leather. We are also providing a facility of customization in these shoes as well.
- 15. Wall Street Men's Formal Italian Shoes: Following category of shoes are for the people who demand simple shoes keeping this in mind we are offering formal Italian shoes which are made up high quality leather best for multipurpose. Wall Street Men's Two Tone Burnished Shoes: We have achieved a unique dual color shoes with the combination of two high quality polished leather with different colors, we will recommend this shoes for the people who have unique taste in boots selection.
- 16. Wall Street Men's formalBuckle shoes: These shoes are simple designed buckle shoes with high quality leather we have also provided the facility of customization in these shoes as well making it easier for our customer to choose according to their desired design as they wanted.