ONLINE BOOK STORE
INTRODUCTION:
Covid has impacted the financial stability of local wage earners and their booming business has declined. some of them have the awareness of social media but they don’t know how to use it for their own benefit, they lack the necessary skills. I want to help them by setting their business online because nowadays e-commerce platforms are benefiting each one so why not them? I talked with 2 of my baba’s friends and with my 1 cousin, they all pointed out similar problems. He stated, “even a year would not be enough to cover the losses the bookshops had incurred in the two-month lockdown.”
PROBLEM STATEMENT:
1-People were not able to open the shops in lockdown and that affected them financially (they were unable to pay the rents, utility bills, groceries etc)
2- the educational institutions were closed during lockdown, due to which the sales of books were declined quite drastically, and people started to indulge in various alternatives. (watching Netflix and Ertugral, playing PUBG, among us and ludo etc)
3- when the lockdown was eased, they could open their shops, but the no. of customers declined due to the social distancing concerns.
PITCH
I want to work as an agent or mediator between the vendors and the borrowers according to the principle of demand and supply. Now educational institutions are open, and people need books, but they are afraid to visit such heavily crowded places. Vendors have a lot of inventory too and due to low inventory turnover, the cost of inventory is increasing causing them financial losses as described above. On social media, I will set up an online Urdu bazaar, where the customers can place orders and I can purchase that book on credit and sell it to the customer on a 20–30% profit margin so that I can overcome my other expenses like the delivery fee of Bikea etc. Bikea will pick the books from the vendor and will deliver it to the customer. I am going to use the concept of dropshipping and wholesale to retail, this will save the inventory cost for me and other expenses too.
