Criticize my business plan.?
I've been thinking about a business plan for learning purposes only. i dont actually plan to execute it at all. I've been thinking about changing the way electronic retail stores work such as Best Buy and Target. These two retail stores require a lot of space which makes it very hard to penetrate the downtown market. To reduce space in retail stores, we would eliminate all the inventory in retail stores and store it in a warehouse. The retail stores will only provide live interactive demos of ALL the products they sale to the customers. If a customer want to buy a product, they would buy it at the retail store, and the retail store will notify the warehouse to ship the product to the customer. The main point of this business plan is to bring innovation into reducing expense. The advantages to this is: Eliminate shopplifting Reduce Rent Space Better Customer Experience (because more interactive demos) Easier Penetration in Downtown Space So critique my plan! Just to let everyone know, i have never taken a business course. So try not to use jargon.
Asked By: burnt1ce85 - 1/17/2006
Best Answer - Chosen by Asker
Your ideas are not too far from the catalog showroom concept that was popular in the 1960s and 1970s. You’ve added a couple of differences – a second location for inventory instead of in house storage and you want to have specialized product demonstrations. The main problem with your idea is that most people who shop... More
Answered By: ckgillis_99 - 1/17/2006
Additional Answers (6)
These are all very valid points! I'd have to agree with you that this is a great idea.
Answered By: browneyedmaiden - 1/17/2006
For a learning experience there's nothing wrong with it at all. I'll criticize it anyway. It's funny looking and smells like it stepped in something. In real life people want to walk out with the merchandise, if not they're buying it on line.
Answered By: cblrdy - 1/17/2006
The "frivilious shopper" you know the ones, see it think it's cool and INSTANTLY need that satisfaction of having it to carry to the car, and can't wait until they get home to have it hooked up.. so you add 5 models in the back room to cure that and I think it's a pretty good plan.
Answered By: craptacular wonderment - 1/17/2006
It may eliminate shoplifting from customers, but then you need to worry about your staff who work at the warehouse(s) because as many big box stores have found out employees can account for a large amount of missing merchandise from the back where is it a lot easier to take. It would reduce rent space but you'd have to... More
Answered By: Aery - 1/17/2006
It sounds very good on paper, but unfortunatley - we live in a 'NOW' society. People will want their products ASAP.
Answered By: rayrayl81 - 1/17/2006
I like your idea. But there are other apparent things you are leaving out... More
Answered By: Ashish - 1/18/2006
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