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3d Luggages, Inc. Business Model

Essay by   •  April 10, 2017  •  Business Plan  •  1,333 Words (6 Pages)  •  430 Views

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The Business Model Canvas     Designed for: 3D Luggage      Designed by:                                              Date: 06/03/2016        Version: 1[pic 4]

                                                                     

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Part 2: Business Concept Assignment

Company Name: 3D Luggages, Inc.

                                                 

Marketplace Problem:

Lack of existence of a product on the market that automatically aids organized packing and unpacking for the user.

Industry Background

Luggage retail is a very lucrative market worldwide. The global luggage market was expected to generate about $31.62 billion by 2015.  And importantly North America was forecasted to generate approximately $8.64 billion U.S. dollars in luggage retail sales in 2015.

This means there would be a compound annual growth rate of about 3.7 percent between 2010 and 2015. The largest sector in the luggage market is the retail sale value of travel bags which is expected to generate about $12.89 billion.

The industry market share is quite fairly distributed; however, Samsonite leads the pack with a 9.6% global market share, while a few other companies such as VF Corp, Tumi, Delsey, Rimowa, Ace, and VIP share 8.6% amongst themselves.

Our Solution

Compartmentalized luggage would be designed to keep different types of items separate in the customer’s luggage to facilitate organization and provide an easier way to find something in the luggage.


Business Concept

We are going to base 3D Luggage out of an office on the outskirts of the Dallas-Fort Worth metroplex, close to DFW airport. The office would also have a warehouse connected to it, allowing management to conveniently access inventory. The location allows our company a few advantages: cheap land outside the city of Dallas, easy access to a busy airport for company demonstrations, and convenient proximity to the airport for potential investors.

Our business structure consists of selling goods online with our website and with Amazon to get started. Once our business gains traction we would begin moving to retail. A middle brand retailer, such as Kohl’s, is our next step in transitioning to retail sales. We know we’ve met our goal when 3D Luggage is featured in high end department stores like Macy’s and Nordstrom.

Operations would primarily revolve around manufacturing, business partnerships, and sales/marketing. As a small start-up, we have decided to import components from China and put the components together with our manufacturer. As 3D Luggage grows, we will look into further manufacturing opportunities: (1) manufacturing in Mexico and China, (2) having business partnerships involving the companies we work with (Amazon, Kohl’s, etc.) and (3) signing the contracts to do business with them. These business partners are crucial in growing our business, but we aim to be diligent and negotiate deals wisely. Marketing should be one of the most important operations to grow our business in its early stages. Online sales will only come if people are interested in 3D Luggage, so our marketing from day will focus on creating demand.

The hours for the management sector of our business in Dallas will follow the traditional 8am-5pm CST (Central Standard Time) from Monday to Friday. Additionally, there will be workers in Asia working as part of the manufacturing side of operations from 8am-5pm UTC, Monday to Friday.

The Product [pic 6]

Features:

1) 3D Layout of suitcase                                                                          

http://www.firstpalette.com/tool_box/printables/cube.html

2) Elongated layout allows for minimal wrinkles for dress clothes

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