Our business will provide a service website where students will be able to trade books with one another or give them away for free. In order to raise funds for our service, in addition to charging a listing fee to post a book on our site, we will also sell advertising space on our webpage to generate additional revenue. In addition we hope to partner with local colleges to promote our service to help cut down on costs. Our business will focus on the college students and getting the books they need when we first launch. We then plan to expand to other readers to further build our system.
Financing.
Initial financing needed is $10,000, (Durand, Phebe) the money will be received from a bank loan and be paid in four years. The money received will be used to cover the start-up fee, cost for domain name, web hosting, and a professional web designer in addition to paying for utilities and taxes.
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II. Executive Summary.
BookTrader was created by four former college students from Eastern Washington University. The co-founders are Nancy Phan, Eric Swanson, Tepkosal Tan, and Linh Sam. BookTrader will be a limited liability company. The company's mission is to help college students save money on textbooks.
Initial financing need is $10,000, which will be obtained from a bank loan and be paid back in four years, but if profits exceed our expectations it will be paid back sooner. Each cofounder will also invest $2,250 of their personal funds into the business. The money will go towards the start-up fee, cost for our domain name, web hosting, and a professional web designer.
Our plan is to launch BookTrader by Winter Quarter of 2014. We will be hiring a graphic designer to build our website to make it user- friendly.
