Ecommerce Executive Summary
TrendyFit.com is a startup ecommerce store that sells fitness clothes and accessories for the young, trendy, and stylish individual who enjoys working out and staying fit. The clothes are unique and designed to fit the latest trends of the most popular online YouTube or TikTok celebrities, yet functional and comfortable for working out at the gym or just hanging out. All products are made in the United States, are made with the highest quality fabric, and come with a money-back customer guarantee if the fit or style doesn’t satisfy the customer. TrendyFit.com is sold exclusively online; no retailers will be carrying any TrendyFit.com products.
TrendyFit.com is owned by Devon Ming. Devon will utilize a dropshipping company to receive all orders placed on TrendyFit.com, fulfill the order, and ship directly to the consumers. Devon will also employ a team of three creative designers to develop the website and social media presence by utilizing targeted social media ads and will recruit social media influencers as brand ambassadors. Devon will also employ a team of two customer service representatives to ensure complete customer satisfaction.
The following are the services to be offered by TrendyFit.com:
- Fitness clothing
- Fitness accessories such as socks, headbands, and wrist wraps
- Yoga mats
- Foam rollers
TrendyFit.com will target all fitness enthusiasts and trendsetters in the United States and internationally. The target market will be social media savvy and spend a large portion of their day browsing through their social media sites. The ideal customer will be young, either in high school or college, a working professional, or a gym rat who frequents the trendiest fitness gyms and establishments.
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Devon Ming is a graduate of Harvard University’s Business School and after graduation, has spent the last three years developing the brand image, vision, and researching products for TrendyFit.com. Devon wanted to utilize his Master’s degree in Business Strategy & Marketing, and has devoted all of his time and energy into launching his ecommerce store.
As CEO of TrendyFit.com, Devon will oversee the strategy and development of the company. He will be in constant communication with the dropshipper, creative team, and customer service representatives. He will also focus on strategic growth and the long term vision of the company.
TrendyFit.com is primed for success by offering the following competitive advantages:
- Most cost-effective trendy fitness apparel option compared to competition.
- Trendiest and most innovative fitness fashion designs available anywhere.
- 100% customer satisfaction money back guarantee with every product sold.
- A portion of all proceeds will go towards socially-conscious causes and non-profit charities.
TrendyFit.com is seeking $200,000 in debt financing to launch TrendyFit.com. The funding will be dedicated for the down payment with the dropshipping company, three months of payroll expenses for the creative team and customer service representatives, and any business licensing necessary. There will also be funding dedicated to the social media campaign and website development. The breakout of the funding is below:
- Dropshipper Good Faith Down Payment: $50,000
- Payroll Expenses for Creative Team and Customer Service Reps (3 mos): $60,000
- Social Media Campaign & Website Development: $80,000
- Contingency and any necessary licensing: $10,000
The following graph below outlines the pro forma financial projections for TrendyFit.com.