The proposal is for an internet based procurement service. The name of the company will be i-Procurement. The company targets clients from all over the world and hopes to be a major global online procurement service provider in the near future.
When it is instituted, the company will have four functional staff departments. These departments will be staffed by an accountant/purchaser, a manager, an assistant, and a customer service representative.
The company will assert its position as a worldwide procurement service provider. Therefore, the company will be able to facilitate the purchase of a variety of luxury goods for its clients. The company will provide its customers with very competitive and transparent prices for jewelry, perfumes, watches, clothes, accessories, among other items.
In addition, the company has the ability to connect its customers with leading global brands such as Tiffany, Christian Dior, Bvgari, Rolex, Giorgio Armani, among others.
I-Procurement will mostly target the lucrative Chinese market. In recent times, China has become a leading global consumer of luxury goods. The current trends also indicate that China is going to maintain its momentum as a leading consumer in luxury goods.
For instance, in 2010 China consumed luxury goods worth over six and a half billion dollars. This reasserted China’s dominance in the luxury goods market because it marked a three-year consecutive growth. The future of luxury goods in China looks bright as the country is set to overcome Japan as the leading global luxury-goods consumer in 2015.
Moreover, the number of consumers in China is set to increase from the current 80 million to 180 million people in the year 2020. Analysts estimate that in 2020 China will account for 44% of the global luxury market. In addition, the demand for luxury goods in the greater China is set to be valued at over 150 billion Euros by 2020.
The business concept has several advantages over the existing concepts and products. For one, it provides clients with an easy to use platform. In addition, it saves time for clients because it is an online service. Clients also benefit from seasonal promotions that target selected items. Moreover, there are reduced taxes because all transactions take place online.
The first thing when setting up i-Procurement is designing a website. Once the right design has been achieved, the next step is to ensure that the website is operational. Eventually, the company will ensure that there are adequate security measures in place and the website is maintained regularly.
After that, it is up to the company to promote the website using various avenues. However, the best way to promote the website is by using other online tools such as social media.
The company focuses on a wide array of products including make-ups, skin-care products, fragrances, accessories, shoes, handbags, electronics, and clothing. The equipment that is required to get the company up and running includes four double-monitored computers, four cell phones that will be functional for twenty-four hours, and a car.
The company’s customers will be provided with a wide array of remote payment methods. Some of the available payment methods include PayPal, American Express, Discover Network, and MasterCard. For courier services, the company has chosen to use Global Courier Express.
The cost of setting up this business amounts to 3,385 dollars. Registering the company will cost 35 dollars. The website itself will be maintained five times each month at a cost of 350 dollars. The remaining 3000 dollars will be used to purchase equipment for the start-up.