Egaragesale.comEgaragesale.com

By: Robert DayBy: Robert Day Alicia FoschiniAlicia Foschini

Jeremy OrlinJeremy Orlin Janet PaleyJanet Paley

Sunny ShewakramaniSunny Shewakramani

What are we?What are we?

An online community of users that An online community of users that can post and purchase goods from can post and purchase goods from other users. Our company focuses other users. Our company focuses on selling items that would usually on selling items that would usually be found at garage sales. Whether it be found at garage sales. Whether it may be an antique rocking chair to may be an antique rocking chair to vintage vinyl records, this would be vintage vinyl records, this would be the most convenient medium to the most convenient medium to search.search.

Who are we?Who are we?

This company is an equal partnershipThis company is an equal partnership Jeremy Orlin- President of FinanceJeremy Orlin- President of Finance Janet Paley- President of MarketingJanet Paley- President of Marketing Sunny Shewakramani- President of Sunny Shewakramani- President of

Information TechnologyInformation Technology Robert Day- President of SalesRobert Day- President of Sales Alicia Foschini- President of Human Alicia Foschini- President of Human

ResourcesResources

How it worksHow it works

A user can post any item they wish to sell, A user can post any item they wish to sell, at no cost for other users to browse the at no cost for other users to browse the website.website.

When a user finds an item they would like When a user finds an item they would like to purchase, they can privately send the to purchase, they can privately send the seller a direct message to negotiate a price.seller a direct message to negotiate a price.

The seller has previously agreed when The seller has previously agreed when entering a contract with Egaragesale.com entering a contract with Egaragesale.com to not sell any items below a certain to not sell any items below a certain requested price.requested price.

Egaragesale.com vs EbayEgaragesale.com vs Ebay Egaragesale.com, is Egaragesale.com, is

not an auction, there not an auction, there is only direct contact is only direct contact with the seller.with the seller.

Lower fees (no price Lower fees (no price for posting an ad, for posting an ad, lower percentage of lower percentage of sale price-5%).sale price-5%).

No time span from No time span from when the item is when the item is posted to when the posted to when the item is sold.item is sold.

Auction, very informal, Auction, very informal, there is no direct there is no direct contact between the contact between the buyer and seller, other buyer and seller, other then email which can then email which can take a while.take a while.

High Fees (a fee to High Fees (a fee to post and a fee of post and a fee of 5.25% on final sale)5.25% on final sale)

Certain time limits Certain time limits when an item is when an item is posted to when an posted to when an item is sold.item is sold.

CompetitionCompetitionEbay: Ebay:

Founded in 1995 by Pierre Omidyar, first Founded in 1995 by Pierre Omidyar, first called “AuctionWeb”called “AuctionWeb”

Most popular form of auction on the webMost popular form of auction on the web To post something for sale on ebay, a buyer To post something for sale on ebay, a buyer

pays between $.25 cents to $5.00 for a pays between $.25 cents to $5.00 for a basic ad.basic ad.

The more detailed your Ad the more The more detailed your Ad the more expensive it will beexpensive it will be

Takes 5.25% cut off of any sold itemTakes 5.25% cut off of any sold item Ebay is by far the largest threat to Ebay is by far the largest threat to

Egaragesale.com in terms of market share. Egaragesale.com in terms of market share.

CompetitionCompetition

Yahoo:Yahoo: Launched un September 1998, Yahoo! Launched un September 1998, Yahoo!

Auctions is an online auctioning website Auctions is an online auctioning website powered byYahoo! Inc. powered byYahoo! Inc.

Within a year of its launch, Yahoo! Auctions Within a year of its launch, Yahoo! Auctions had established international versions of had established international versions of the website in countries such as: France, the website in countries such as: France, Germany, Australia, New Zealand and Germany, Australia, New Zealand and Singapore.Singapore.

In order to post an item for auction a listing In order to post an item for auction a listing fee must be paid.fee must be paid.

CompetitionCompetition

Amazon:Amazon: Based in Seattle, Washington, Amazon was launched Based in Seattle, Washington, Amazon was launched

in 1995 as one of the first major companies to sell in 1995 as one of the first major companies to sell goods over the internet.goods over the internet.

It also owns Alexa Internet, a9.com, and the Internet It also owns Alexa Internet, a9.com, and the Internet Movie Database (IMDB.com)Movie Database (IMDB.com)

Amazon offers access to its catalog via web services, Amazon offers access to its catalog via web services, much as Google does to its search engine.much as Google does to its search engine.

a9.com provides search engine services directly on a9.com provides search engine services directly on the Amazon.com site.the Amazon.com site.

Amazon.com began as an online book-selling Amazon.com began as an online book-selling company but has now branched off into many other company but has now branched off into many other areas, including DVDs, music CDs, computer areas, including DVDs, music CDs, computer software, video games, electronics, apparel, software, video games, electronics, apparel, furniture, and more. furniture, and more.

CompetitionCompetition

Overstock.com:Overstock.com: Overstock.com is an online "closeout" Overstock.com is an online "closeout"

retailer offering discount, name-brand retailer offering discount, name-brand merchandise for sale over the Internet.merchandise for sale over the Internet.

The company offers its customers an The company offers its customers an opportunity to shop for bargains opportunity to shop for bargains conveniently, while offering its suppliers a conveniently, while offering its suppliers a global distribution channel.global distribution channel.

Overstock.com relies on 70 SUSE Linux Overstock.com relies on 70 SUSE Linux servers to serve approximately seven million servers to serve approximately seven million visitors per month with maximum uptime.visitors per month with maximum uptime.

Start up CostsStart up Costs

Mortgage Deposit- $1,500Mortgage Deposit- $1,500 Insurance- $1,000Insurance- $1,000 Equipment- $10,000Equipment- $10,000 Supplies- $1,000Supplies- $1,000 Legal- $2,500Legal- $2,500 Utilities- $1,000Utilities- $1,000 Other- $1,000Other- $1,000 Total Start up- $18,000Total Start up- $18,000

Monthly ExpensesMonthly Expenses

Rent- $1,500Rent- $1,500 Loan Payments- $1,000Loan Payments- $1,000 Salaries- $15,000Salaries- $15,000 Marketing- $5,000Marketing- $5,000 Insurance- $1,000Insurance- $1,000 Utilities- $500Utilities- $500 Other- $1,000Other- $1,000 Total $25,000Total $25,000

Breakeven AnalysisBreakeven Analysis

Variable Cost Variable Cost $5.50$5.50 per unit per unit Fixed CostFixed Cost $25,000.00 $25,000.00 Expected SalesExpected Sales 25,000 units 25,000 units Price Price $10.00 per unit$10.00 per unit Total Revenue Total Revenue $250,000.00$250,000.00 Total Variable Costs Total Variable Costs $137,500.00$137,500.00 Profit Profit $87,500.00$87,500.00 Breakeven Point-Breakeven Point- 5556 Units 5556 Units

Hardware Hardware If you buy, from a variety of different vendors If you buy, from a variety of different vendors

around the internet, all the functionality that this around the internet, all the functionality that this online website builder offers in a single package, online website builder offers in a single package, it will cost you thousands of dollars a year, and it will cost you thousands of dollars a year, and you'll still be missing unique functionality. you'll still be missing unique functionality.

For example, here is how our website struggles For example, here is how our website struggles for traffic from the free search engines - the most for traffic from the free search engines - the most valuable traffic because it is free and it produces valuable traffic because it is free and it produces interest and is willing to buy visitors.interest and is willing to buy visitors.

Brainstorming Brainstorming WorldSubmitter WorldSubmitter SpiderWatcherSpiderWatcher

1&1 Instant Websites1&1 Instant Websites This is a popular website builder, which anyone can This is a popular website builder, which anyone can

use to quickly create small websites (up to 12 use to quickly create small websites (up to 12 pages) without the need of HTML programming pages) without the need of HTML programming skillsskills

Suitable for those who just want to make Suitable for those who just want to make small small professional looking websitesprofessional looking websites very quickly, easily very quickly, easily and inexpensively .and inexpensively .

Building a website is a five-step process... Building a website is a five-step process... 1.1. Choose your layout from a library of 120 website templates. Choose your layout from a library of 120 website templates. 2.2. Refine your design - choose your favorite graphic and pick Refine your design - choose your favorite graphic and pick

the font size, text color, and navigation button style. the font size, text color, and navigation button style. 3.3. Edit your content with easy to use online editor. Edit your content with easy to use online editor. 4.4. Add extra features like Flash animation, a counter, Add extra features like Flash animation, a counter,

feedback forms, guest books and more. feedback forms, guest books and more. 5.5. Publish your website. Publish your website.

Secure HTML –Online Secure HTML –Online ServiceService

It takes any HTML code and creates new It takes any HTML code and creates new "secure" HTML file that is encrypted and "secure" HTML file that is encrypted and asks for a password when you try to open it. asks for a password when you try to open it. If you enter the correct password, you'll see If you enter the correct password, you'll see the original document, otherwise you'll see the original document, otherwise you'll see the blank window or a few meaningless the blank window or a few meaningless characters. characters.

This method of creating password protected This method of creating password protected web pages is safer than many others, since web pages is safer than many others, since the browser catches the encrypted version of the browser catches the encrypted version of the file and the original version exists only the file and the original version exists only on your screen. on your screen.

Website WizardWebsite Wizard Website Wizard is another business website Website Wizard is another business website

builder claiming to take care of all the needed builder claiming to take care of all the needed technology and intricacies of building, running and technology and intricacies of building, running and marketing your website for you.marketing your website for you.

Here are the benefits you could get from this Here are the benefits you could get from this strategy:strategy: Free domain name registration Free domain name registration Unlimited storage space Unlimited storage space Unlimited email accounts and aliasesUnlimited email accounts and aliases Building a professional-looking logo in just a Building a professional-looking logo in just a

few mouse clicks few mouse clicks Search engine submission Search engine submission Automatic link exchange Automatic link exchange Credit card processingCredit card processing

Target MarketTarget Market

Market GeographyMarket GeographyMarket SizeMarket SizeMarket DensityMarket DensityMarket BehaviorMarket Behavior

Market GeographyMarket Geography

Market geography refers to the Market geography refers to the geographical extent of markets and geographical extent of markets and where they are located.where they are located.

Egaragesale.com is an online market Egaragesale.com is an online market that reached those around the world that reached those around the world or those who have internet access.or those who have internet access.

The consumers search The consumers search Egaragesale.com to find what they Egaragesale.com to find what they are looking for.are looking for.

Market SizeMarket Size

The market size refers to the number of The market size refers to the number of buyers or potential buyers (consumer or buyers or potential buyers (consumer or industrial) in a given market.industrial) in a given market.

Egaragesale.com reaches everyone that is Egaragesale.com reaches everyone that is of legal consent to purchase an item. of legal consent to purchase an item.

The age to legally use Egaragesale.comThe age to legally use Egaragesale.com Ranges from 18+, people who are able to Ranges from 18+, people who are able to

make payments with credit/debit cards, and make payments with credit/debit cards, and money orders. money orders.

Market DensityMarket Density Market Density refers to the number of buyers Market Density refers to the number of buyers

or potential buyers per unit of geographical or potential buyers per unit of geographical area.area.

The major strategic implication of this The major strategic implication of this discussion is that the opportunity to achieve a discussion is that the opportunity to achieve a relatively high level of customer access at low relatively high level of customer access at low cost is higher in dense markets than in more cost is higher in dense markets than in more dispersed ones.dispersed ones.

Those who are accessing the website are Those who are accessing the website are people of different races, backgrounds, and people of different races, backgrounds, and cultures. cultures.

The people consist of those who have high The people consist of those who have high school equivalency, college degrees, or those school equivalency, college degrees, or those who have well paid jobs and great careers.who have well paid jobs and great careers.

Market BehaviorMarket Behavior Egaragesale.com, give the consumer a Egaragesale.com, give the consumer a

choice of low end prices.choice of low end prices. You have low prices that you can’t find You have low prices that you can’t find

anywhere else, and products that do not anywhere else, and products that do not exist on the market anymore.exist on the market anymore.

With Egarage.com you are negotiating a With Egarage.com you are negotiating a price within a reasonable quota for an price within a reasonable quota for an item.item.

This allows the consumer to feel This allows the consumer to feel comfortable with the transaction.comfortable with the transaction.

Smooth transactions = great feedback Smooth transactions = great feedback

Marketing TechniquesMarketing Techniques

AdvertisingAdvertising TelevisionTelevision RadioRadio Print AdsPrint Ads Internet Internet

Coupons/GiveawaysCoupons/Giveaways Word of MouthWord of Mouth

AdvertisingAdvertising

TelevisionTelevision Commercials are the most influential Commercials are the most influential

medium for advertisingmedium for advertising Expensive but worth the cost in the Expensive but worth the cost in the

long runlong run Start with 30 second adsStart with 30 second ads

One during daytime talk shows and soap One during daytime talk shows and soap operas to attract middle age housewife's.operas to attract middle age housewife's.

One on MTV to attract the college age One on MTV to attract the college age market market

AdvertisingAdvertising

RadioRadio Small commercials during rush hour Small commercials during rush hour Try to get an interview on a popular radio Try to get an interview on a popular radio

show to explain how Egaragesale.com show to explain how Egaragesale.com worksworks

Print AdsPrint Ads Ads in local/college newspapers Ads in local/college newspapers

InternetInternet Sponsored link on Google directing you to Sponsored link on Google directing you to

our pageour page

Coupons/GiveawaysCoupons/Giveaways

Along with all print ads there will be Along with all print ads there will be coupons offering a discount for first coupons offering a discount for first time purchases.time purchases.

All first time users get their first All first time users get their first purchase with free shipping.purchase with free shipping.

Any user who is directed to our Any user who is directed to our website through a link on another website through a link on another website will have a discount on their website will have a discount on their first purchase.first purchase.

Coupons/GiveawaysCoupons/Giveaways

Hire students on college campuses Hire students on college campuses to hand out flyers to passing to hand out flyers to passing students informing them of students informing them of Egaragesale.com and offering Egaragesale.com and offering discounts.discounts.

Post flyers in supermarkets and Post flyers in supermarkets and populated areaspopulated areas

Word of MouthWord of Mouth

Strongest and cheapest form of Strongest and cheapest form of advertisingadvertising

Most people will go to Most people will go to Egaragesale.com, because they Egaragesale.com, because they heard of it from other people.heard of it from other people.

This is out of our hands, we only This is out of our hands, we only hope that by putting effort in the hope that by putting effort in the other marketing areas that this one other marketing areas that this one will succeed on its own.will succeed on its own.

Our WebsiteOur Website

http://www.pages.drexel.edu/~amf3http://www.pages.drexel.edu/~amf39/index.htm9/index.htm