Detailed Business Plan for Carousell: Entrepreneurship and Innovation

This document presents a comprehensive business plan for Carousell, a consumer-to-consumer marketplace for new and used goods. It begins with an executive summary, outlining the company's objectives to provide accessible business operations and a wide range of products. The plan includes detailed market analysis, segmentation, and Carousell's spending and outsourcing strategies. It defines the business, value proposition, and competitive advantages, followed by market share and revenue generation models. Marketing and sales strategies are elaborated, including customer and laboratory focus, alongside service offerings, business architecture, and financial planning, including startup funds, income statements, cash flow statements, and balance sheets. The document also features references and provides a thorough overview of the business's operational and financial aspects, demonstrating a strategic approach to market entry and growth within the consumer goods sector.

Running head: ENTREPRENEURSHIP AND INNOVATION
Entrepreneurship and Innovation
Name of the Student
Name of the University
Authors Note
Course ID

1ENTREPRENEURSHIP AND INNOVATION
Executive Summary:
Overview:
The present document provides a summary of the background; status and plans for the
creation of a new web enable business that will help in offering consumer-to-consumer
service to the buyers of new and used products. It is ultimate objective of the Corousellto
easily accessible business operations through internet to offer customers with the extensive
range of used and new products.
Background:
Consumer to consumer service will play an important role in the development of quality
assurance and transportation of products to the users. With rising economic inflation the
company will be better able to attract customers for used and second hand products.
Problems:
Currently a large sum of investment and time is needed to outsource a significant part of the
organization service requirements. Market research have identified the critical problems of
rising prices and used products can be help in reducing the consumer expenditure.
Opportunity:
With the growth of the web it helps in eliminating any kind of impediment associated with
the business due to the increased degree of outsourcing. The internet and quicker medium of
information can help in easy flow of communication among the potential customers in the
market.

2ENTREPRENEURSHIP AND INNOVATION
Table of Contents
Market Analysis:........................................................................................................................4
Market Segmentation:................................................................................................................4
Carousell spending and Outsourcing:........................................................................................5
Company description:................................................................................................................5
Business definition:....................................................................................................................6
Value proposition:......................................................................................................................6
Competitive advantage:..............................................................................................................6
Market share:..............................................................................................................................6
Revenue generation:...................................................................................................................7
Competition:...............................................................................................................................7
Regulatory restrictions:..............................................................................................................7
Marketing Strategies..................................................................................................................7
A. Overall Objectives and Strategies.........................................................................................8
B. Customer Focus.....................................................................................................................8
C. Laboratory Focus...................................................................................................................9
Sales Strategies...........................................................................................................................9
A. Background...........................................................................................................................9
B. Customer-Oriented Activities..............................................................................................10
C. Network-Oriented Activities...............................................................................................10
Service offerings:.....................................................................................................................11

3ENTREPRENEURSHIP AND INNOVATION
A. Product/service description:................................................................................................11
B. Copyrights, patents and trade secrets:.................................................................................12
Business architecture:...............................................................................................................12
A. Key capabilities and operating model:................................................................................12
B. Capability descriptions:.......................................................................................................13
Financial planning:...................................................................................................................15
Start Up Funds:........................................................................................................................15
Income Statement:....................................................................................................................17
Cash Flow Statement:..............................................................................................................18
Balance Sheet:..........................................................................................................................18
Reference List:.........................................................................................................................20

4ENTREPRENEURSHIP AND INNOVATION
Market Analysis:
The market is currently facing a declined growth over the past two years. This is
generally due to the overall weak economy. Consumer to Consumer industry sales have only
increased by 3.6% from the year 2002 in Singapore while the overall US retail sales have
increased by 4.3%. The management of the Corousell believes that economic slump might
result in an advantage for the used products in the industry (Hollensen 2015). As the
customers have decided to cut down on the purchasing, used products will appear more
attractive to the consumers of the customers who yet aspire to purchase the used products.
Hence, the management of the Corousell has believed that this might be a good time of
getting into the industry and acquire the market share.
Used goods and new selling goods may be considered as the good time of gaining the
market share since the entire purchasing populations of its geographical area hence focus of
the customers might shift towards the second hand products. Second hand products serve the
entire purchasing population of the Singapore geographical area and focuses on the customers
that desires to purchase consumer goods that often does not hold long term attachment to the
product (Kotleret al. 2016). The company Corousell generally faces direct competition from
the Barnes & Noble that holds more than 22 percent of the nationwide market. On the other
hand, there are also companies that holds more than 15% of the local new and second hand
consumer products.
Market Segmentation:
Second hand products and new products serve the overall purchasing population of
the geographical area howeverCorousell emphasis more on the customers that desires to
purchase second hand products and new products since they are viewed as the near
commodity items and they are not generally considered to be the goods that involve long

5ENTREPRENEURSHIP AND INNOVATION
term investment. In spite of the fact that the relatively low amount of value is placed on the
merchandise by the potential customers (Armstronget al. 2015). Corousell can still flourish in
the environment of the present market. This is particularly true with the people that are
seeking to cut down the costs in the poor economy. Even though the company is servicing the
overall new and second hand used products in the market the company can divide the market
in terms of the purchasing habits.
Casual purchasers are considered to be the customers that visit the goods store having
minimal idea of what they are aspiring to purchase (Sheth and Sisodia 2015). The customers
generally seek to spend a reasonable quantity of looking store and often are regarded as the
impulse purchaser. Usually these customers purchase in small quantity or without purchasing
anything. The customers are usually attracted with the low price and inventory.
Carousell spending and Outsourcing:
In the month of November 2013, the company with the help of the other investors
invested $1 million in the functions of the company (Weinstein and Pohlman 2015). In
addition to this, during the month of August 2016, Carousell raised a sum of $35 million in
their Series B funding round. By the year 2016, more than 23 million items are sold by the
company and the users has created more than 57 million listings of their new and used items
of sale.
Company description:
Carousell is understood as the mobile and online consumer to consumer marketplace
for purchase and sale of new and second hand goods (Winer and Dhar 2013). The company
has its headquarter in Singapore and operates inside the territory of Singapore, Malaysia,
Indonesia, Taiwan and United States.

6ENTREPRENEURSHIP AND INNOVATION
Business definition:
The current business will be based on the sale of the new as well as the old products
to the customers. Carousell will provide an effective alternative service of used and new
goods to the customers in order to cut down the expenditure on the products that are more
expensive. The company will use inherent connectivity of the web so that it can offer a
comprehensive range of service that offers a more secure and cost effective alternatives
products to its customers.
Value proposition:
Presently, there is no companies that provides wide range of service and capabilities,
which is obligatory for meeting the wide consumer requirements across multiple industries.
Carousell will be the first online company that will provide products ranging from new and
old goods that are needed by the clients to completely leverage current anaCarousell
resources. bearing this in mind, the value proposition of Carousell can be understood as the
better leverage that provides comprehensive, cost effective and on demand anaCarousell
resources to its customers.
Competitive advantage:
Considering the competitive advantage Carousell will be able to meet the needs of the
consumer by satisfying the service needs and meet the key requirements of the customer’s
criteria (Wagner and Eggert 2016). The criteria will generally comprise of the speed reliable
test, security and a simple process all at the customer value. The company will target and sign
up the credible service providers by delivering the range of the necessary customer needs.
Market share:
As evident from the current market situation it can be predicted that the absence of the
proven and credible competitors in this market space. It is understood that Carousell will

7ENTREPRENEURSHIP AND INNOVATION
better be able to capture the rising trend of the 20% of the customers in the tier 1 markets. In
addition to this, Carousellis anticipated to achieve a market share of 8% by the year second
year of operations.
Revenue generation:
The financial model that is employed in the creation of the financial statements by
assigning revenues based on the margin of approximately 10% in terms of the underlying cost
for the transactional testing (Kleinaltenkamp, Plinke and Geiger 2016). Significantly the
business activities would be evaluated at the equivalent rate that are associated with the
generation of the revenues. In the present context it can be stated that the mix of transactional
and problem solving is anticipated to approximately balanced as predicted from the first year
of operations.
Competition:
Presently there are some companies that participate in the sale of new and old
goodsBarnes & Noble and companies operating in the segment of E-commerce with second
hand products. These companies have the association with the preferred supplier for
exchange of new and old goods (Wagner and Eggert 2016). Additionally, it is assumed by the
company that the participating companies are comfortable with the current quality
management procedure of the supplier that are trustworthy and relative to the sell of old and
new goods.
Regulatory restrictions:
There are no form of any regulatory restrictions or otherwise, that would restrict the
Carousell from implementing the business that has been outlined in the present business plan.
Marketing Strategies

8ENTREPRENEURSHIP AND INNOVATION
A. Overall Objectives and Strategies
The main objective of the formulation of the marketing strategy would aim at selling
of used car/ automobiles. This would aim at the tackling the various challenges for the
problems associated with the present limitations. It has been seen that as per the present
marketing strategy the main focus on the different types of the products has been seen to be
given based on furniture & Home products, kitchen appliances, electronic gadgets, baby
products, toys, mobile phones, photography equipment’s, video gaming, muslimah fashion,
women’s fashion, men’s fashion, health and beauty products. The main recommendation for
the inclusion of the used car category will include marketing strategies such as making use of
traditional and digital marketing strategy; engage the community, getting creative with
referral incentives. In addition to this, the company can create the strong brand
message(Boiko2016).
B. Customer Focus
The customer focus needs to be identified with the dedicated customers who are seen
to be interested in the various types of the used car. The main strategy for offering of the used
car will segregated into both two-wheeler and four wheeler options. The customer will be
clearly provided with the option with total year and bill of the used products. The different
types of the other considerations for the customer have been identified with the use of the
certain strategies for mutual benefit of seller, buyer and the commission of Carousell.
The customers will be able to get the benefit of the certain services such as test drive
of the cars. The main form of the customer will be further notified about responses from the
various types of seller and they will be able to receive the messages in their mobile or
desktop devices. The app of the company will designed in such a way that the customers will
be able to notified as soon there are any related products that is matching with wish list. This
application will be different from the usual ecommerce application as it will be able to notify

9ENTREPRENEURSHIP AND INNOVATION
the customer about various types of the used cars based on the predetermined items or
searched items in the app(Wynne2016).
C. Laboratory Focus
The main form of the use of the traditional and the digital marketing will be done by
using TV, radio, printing advertising, which will be able to bring higher number of audiences
in the market. This will act as a standalone strategy combined with a digital and conventional
advertising strategy. The laboratory focus will be further be able to give the required amount
of the focus to the local causes and charities by which the people will be able to see the
sponsorship as a good business acumen(McKeever2016).
The main form of the laboratory focus will be further focus on promoting the
dealership, which has been further seen to be an integral part of the community. The
community will be further able to outreach for the car sales marketing ideas. Some of the
main types of the strategies have been discerned with partner up with the various types of the
promotional events. The known community events have been further identified with the
advertising of the groups and the individuals involved with the company(Schaperet al. 2014).
Sales Strategies
A. Background
The various types of the sales strategies will be able to promote the customers, vision
and how the customer will be able to inform about the alignment with the brand message.
The various types of the other strategies can be discerned in form of selling and
communicating with the customer in a better way. The different types of the strategies
suggested for the business will be based on the different types of the strategies, which will be
able to align with the brand message. Some of the various types of the other factors for the
sales strategy have been seen with stylized and meaningful logo(Wentzensenand

10ENTREPRENEURSHIP AND INNOVATION
Wacholder2013). This can be done by hiring a professional to create logo and promise on
keeping up with the clients. The various sales strategy for the company will be based on the
optimizing the content as per the less competitive phrases will be able to drive based on the
search of the traffic based on long term(Hoppand Greene2017).
B. Customer-Oriented Activities
The customer oriented program can be based on the taking the suggestions from the
existing customers who will be able to state about the dealerships and analyse the importance
of the suggested feeds. The main focus on the customers will be based on the existing
members of the services, this will be beneficial in tracking, organising and analysing the
various types of the sales efforts. The main implementation of the efficiency in the sales
management has been further seen to be based on the application of the automotive CRM.
The automotive CRM will be conducive in organizing and effective sales management
strategy along with following up with the customers in future. The application of the CRM in
the sales strategy will be able to provide the reminders and different types of the tools to get
the job done(Blank2013).
C. Network-Oriented Activities
The Network orientation needs to be based on the unique functionality of the
mobile applications and various types of the individual workflows with following up with the
customers in the tasks along with the sale process. This has been seen to be based on the
messaging and the communicating with the customers. The main form of the network
oriented activity will be mainly based on the creating the communication with the staff and
customers in a more efficient and organised way. The main form of networking oriented
activities will be further done with the involvement of the social networking sites such as
Facebook, Instagram and Twitter. The different types of the sales activity with the network

11ENTREPRENEURSHIP AND INNOVATION
activity can be based on the fixing of the unsolved queries and the various questions related
to the product (Liu 2016).
Service offerings:
A. Product/service description:
Carousell intends to deliver easy access to each and Carousell service needs from the
testing of routine transactions and evaluation to problem solving, analysis and testing.
Moreover, the organisation would offer ad-on consulting services and different useful
products for the customers. A major source of Carousell’s competitive advantage would be its
position in the form of unique service provider pertaining to all the testing services. Thus, the
organisation would not function as a web-enabled conduit or broker between the customers
and shops. Instead, the objective of Carousell would be to undertake the accountability for
tracking and accrediting the popular retail shops to meet the needs of the customers (Escobar-
Rodríguez and Bonsón-Fernández 2017). The establishment of standards for accuracy and
quality of outcomes along with the management efficacy would factor greatly towards
developing the competitive advantage of the organisation. The customers would be engaged
in transactions with Carousell for the provided services (Hernant and Rosengren 2017). With
the help of accreditation and the program of quality management, the organisation would
handle the service quality by collaborating with its trading partners. The following services
would be offered to the customers:
Testing related to problem solving:
The customers would be able to find the online site capable of meeting their needs for
which there is existence of the current methods. Carousell would display a price to the
customers for a specific product and if they found it appropriate, they could place the order in
the company website.

12ENTREPRENEURSHIP AND INNOVATION
Consulting:
Carousell would provide a range of consulting services like the implementation of
quality management, auditing the current processes and facilities, management related to
customer-owned facilities, training and project management. In addition, the organisation
would access the external service providers and it would create the pertinent in-house
facilities (Hill, Jones and Schilling 2014).
B. Copyrights, patents and trade secrets:
The business model explained in this document is the subject of a business method,
which is in the process of being filed on the part of another organisation. No available patents
would preclude Carrousell to operate in the form of an ongoing concern by utilisation of the
approach outlined in the business plan.
Business architecture:
A. Key capabilities and operating model:
The business model of Carousell forms an effective platform for delivering the
abilities required to achieve the value proposition and organisational strategy. This would be
obtained at a price for making the organisation to earn more profits (Hsu, Chuang and Hsu
2014). The operating model supports numerous critical success factors.
The greater volume and non-chargeable activities need automation and such
automation is needed in integration with suppliers and other value-chain participants like
logistics providers. Minimisation is needed in case of non-chargeable manual intervention on
problem-solving transactions (two hours per transaction billed). Customer interaction must
support customer values and processes. All elements of the customer experience must meet a
level of quality and professionalism that build the confidence of the customer and enhances

13ENTREPRENEURSHIP AND INNOVATION
the reputation of Carousell. Carousell must guarantee the security of a customer’s proprietary
data.
At the highest level the operating model can be broken into five major capability groupings:
customer acquisition and retention, network laboratory management, fulfilment of routine
transactions, management and fulfilment of problem-solving and consulting services, and
various support processes such as Human Resources, Information technology Management
and Financial management.
Carousell will combine the rapid development of a trusted and well-known brand with
a targeted sales campaign aimed at critical decision-makers in the largest companies in target
markets. Although the Carousell Web site may itself be a sales channel, the bulk of revenue
should be generated from customers acquired through the Carousell direct sales force and
those of strategic partners. Carousell will also work to rapidly expand the range and
complexity of anaCarousell services that the customer sources through it.
B. Capability descriptions:
The following are the major capabilities that Carousell needs to possess and they are
depicted briefly as follows:
! Objective - Provide a site that attracts customer interest through content, community and
style,
offering them a useful and logical experience that can be tailored to meet their needs. !
Description - Creates and manages the on-line customer experience through the Web site.
This
includes company profile information, news, Carousell technique developments, etc., as well
as the development and management of service catalogues and customer profiles.

14ENTREPRENEURSHIP AND INNOVATION
2. Customer Acquisition
! Objective - Rapid acquisition of target customers. - High success ratio (new
customers/customers targeted). ! Description - Focused on identifying and selling to target
customers. - Includes the management of indirect or partner channels as well as managing the
Internet
sales channel. - Responsible for customer set-up and initialization, including the generation of
initial
customer profiles, development of customized customer methods catalog, security, user
authorities and preferences.
Carousell Business Plan
Page 28
- Customer set-up will be largely customer self-service using the Web interface, with access
to on-line training and “live” representatives as necessary.
- Includes integration with Carousell LIMS as required. 3. Customer retention
! Objective - Customer retention (and customer satisfaction). - Increase proportion of services
outsourced. - Increase share of outsourced services being routed to Carousell. - Extension
selling (new high value problem solving and consulting services). ! Description - Ongoing
post-sales customer relationship management. - Identify future customer service demands. -
Customer satisfaction surveys. - Customer non-testing support including set-up management,
general query handling and
site problem resolution and billing queries (Customer Service Center). 4. Marketing

15ENTREPRENEURSHIP AND INNOVATION
! Objective - Create Carousell brand recognition in target audiences. ! Description - Sets
marketing strategy, managing participation at appropriate trade shows, brand
development, developing and implementing marketing communications plans and
management of all third party marketing service providers.
5. Network Lab Inclusion and Management
Ensure Carousell has a network of qualified and accredited labs with the service
capability and capacity necessary to support target market share. - Ensure the continued
quality of Carousell and network laboratory supplied services. - Ensure customers have
confidence in Carousell and network service laboratories. ! Description - Identification of
laboratory partners that can provide the services and testing necessary to address target
markets and customer needs within those markets.
A customer experience will be offered that demonstrates an understanding of how the
customer operates and addresses their potential future needs. Customer set-up must enable a
customer to rapidly become comfortable with the Carousell “experience”, particularly the
Web site. It should also allow the customer to customize certain elements of their experience
such as their own proprietary methods catalogue. The customer will be encouraged to make
use of self-service facilities in areas such as testing-related research and site/service
troubleshooting.
Financial planning:
Start Up Funds:
Start Up Expenses
Start-up Expenses
Fixed Costs Particulars Amount
($)

16ENTREPRENEURSHIP AND INNOVATION
Application development cost $5,500
Device Cost $12,000
License cost $1,500
Warehouse and office rent $6,500
Utility deposit (Gas, electric and
water) $2,000
Wages and salary for three month $3,000
Staff training cost $1,500
Marketing and sales cost $3,000
Office equipment $2,500
Computers and equipment $4,500
User manuals and handbooks $750
Transportation cost $2,250
Insurance $1,250
Working capital $40,000
Total Fixed Costs $86,250
Average Monthly Costs
Rent $458
Interest on loan 8% $125
Postage & Telephone $208
Repairs and Maintenance $375
Gasoline and Oil $250
Salaries / Wages $1,000
Total Average Monthly Costs $2,417
x Number of Months: 12
Total Monthly Costs $29,000
Total Start-up Expenses $1,15,250
Start-up Assets
Sources of funds
Owners Fund $1,25,000
Total Owner Funding $1,25,000
Loans
Bank Loan $75,000
Other
Total Loans $75,000
Total Start up Funds $2,00,000
Assets
Computers $
25,000
Furniture $25,000
Vehicles $40,000
Equipment’s $65,000
Total Fixed Assets $1,55,000

17ENTREPRENEURSHIP AND INNOVATION
Total Start-up
Assets $3,55,000
Income Statement:
(4) PROFIT AND LOSS FORECAST
Preop
Year 0 1 2 3
Revenue 0 3,00,000 3,75,000 4,68,750
Cost of sales 0 78,000 97,500 1,21,875
Gross profit 0 2,22,000 2,77,500 3,46,875
Gross Margin 2,94,470 3,57,444 4,42,868
Expenses/overheads
Leased Premises Rent 22,500 22,500 22,500
Wages 52,500 63,000 78,750
Administrative Expenses 2,850 3,420 4,275
Communication Expenses 32,000 38,400 48,000
Marketing Expenses 10,500 12,600 15,750
Rates 28,000 33,600 42,000
Insurance 25,500 30,600 38,250
Other general expenses 8,500 10,200 12,750
Interest 4,500 5,400 6,750
Web Hosting Expenses 5,250 6,300 7,875
Prelim expenses 11,500 13,800 17,250
Lease payments 10,500 12,600 15,750
Total expenses/overheads 2,14,100 2,52,420 3,09,900
Profit before tax 7,900 25,080 36,975
Tax @ 30% 2,370 7,524 11,093
Profit after tax 5,530 17,556 25,883
Transfer to reserves 7,900 25,080 36,975
ROC 6% 14% 19%
Cash Flow Statement:
(2) CASHFLOW FORECAST
Preop

18ENTREPRENEURSHIP AND INNOVATION
Year 0 1 2 3
CASH INFLOWS
Cash from Sales 3,00,000 3,75,000 4,68,750
Directors loans 75,000 75,000 75,000 75,000
Capital Employed 1,00,000 1,25,000 1,37,500 1,51,250
Other cash inflows
TOTAL CASH INFLOW 1,75,000 5,00,000 5,87,500 6,95,000
CASH OUTFLOWS
Payments for materials 78,000 97,500 1,21,875
operating expenses ( ) 0
Premises (rent, rates) 0 22,500 22,500 22,500
Wages and salaries 0 52,500 63,000 78,750
General expenses 0 2,850 3,420 4,275
Interest and bank charges payable 0 10,500 12,600 15,750
Corporation Tax 2,370 7,524 11,093
Market survey costs 0 11,500 13,800 17,250
Other preliminary expenses 0 2,850 3,420 4,275
capital expenditure
Plant and other capital expenditure 0 1,55,000 1,80,000 2,05,000
financing repayments
Loan repayments 6,000 6,000
TOTAL CASH OUTFLOWS 0 3,38,070 4,09,764 4,86,768
Cash flow summary
NET CASHFLOW FOR PERIOD 1,75,000 1,61,930 1,77,736 2,08,233
OPENING CASH BALANCE 0 1,75,000 3,36,930 5,14,666
CLOSING CASH BALANCE 1,75,000 3,36,930 5,14,666 7,22,899
Balance Sheet:
Balance Sheet
Assets FY-1 FY-2 FY-3
Current Assets
Cash $25,500 $35,000 $40,000
Accounts receivable $3,00,000 $3,75,000 $4,68,750
Total current assets $3,25,500 $4,10,000 $5,08,750
Fixed (Long-Term) Assets
Computers 25,000 30,000 35,000

19ENTREPRENEURSHIP AND INNOVATION
Vehicles $40,000 $45,000 $50,000
Furniture $25,000 $35,000 $45,000
Equipment $65,000 $70,000 $75,000
(Less accumulated depreciation) $25,500 $22,900 $21,020
Total fixed assets $1,29,500 $1,27,100 $1,48,980
Total Assets $4,55,000 $5,37,100 $6,57,730
Liabilities and Owner's Equity
Current Liabilities
Accounts Payable 75,850 1,03,920 1,79,255
Accrued Rent $22,500 $22,500 $22,500
Bank Charges Payable $10,500 $12,600 $15,750
Income taxes payable $2,370 $7,524 $11,093
Accrued salaries and wages $52,500 $63,000 $78,750
General Expenses $2,850 $3,420 $4,275
Current portion of long-term debt $75,000 $69,000 $63,000
Total current liabilities $2,41,570 $2,81,964 $3,74,623
Long-Term Liabilities
Long-term debt $75,000 $69,000 $63,000
Less: Loan Repayment $6,000 $6,000
Total long-term liabilities $75,000 $75,000 $69,000
Owner's Equity
Owner's investment $1,25,000 $1,37,500 $1,51,250
Net Profits $5,530 $17,556 $25,883
Reserve and Surplus $7,900 $25,080 $36,975
Total owner's equity $1,38,430 $1,80,136 $2,14,108
Total Liabilities and Owner's Equity $4,55,000 $5,37,100 $6,57,730

20ENTREPRENEURSHIP AND INNOVATION
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