Very recently I have started an e-commerce application called Fosila. We were live in the last week of June 2012 and we have started our operations from July 1st. We have seen awesome response from market. We want our platform to become the online destination for shopping in India.
We are a very small team consisting of 3 people in total - me (working for no salary) and 2 freshers, one person who completed his BTech and other person done with his MCA. They are very talented in their respective areas. I am proud to say I have very small rock solid dedicated team which can be scaled up in no time.
In terms of the catalogue in the store, in few of the categories we offer we are bigger than the top e-commerce companies in India. We have many high valued products in the catalogue but we disabled them because of some operational problems that we are facing currently. Still, totally we have 5,000+ active products and around 8.5K products in our database.
We are working very hard to increase the active catalogue size to 10,000 in 2 months. We are very competitive in terms of the prices and yet we are able to make profitable business, as we are running the company with bare minimum expenses. We are going to continue doing this in the future as well. I can share the database and the original bills from the stores and the invoices for the customer orders.
Our business model is the following: Currently we are not maintaining any inventory in our company. All our products are JIT enabled and the company has very strong relationships with the authorized dealers, regional distributors and brand executives, and operations all are in full swing till now. In the future, we are going to maintain the inventory, and then the margins can go up to the 4% of the revenue.
Competitive prices, low costs, big catalogue, dedicated team, established partner network etc.
As we are seeing tremendous amount of growth in terms of the number of orders every day and the number of users visiting the store, we are facing problems with the money recycling with DTDC and also with fulfilling the new set of orders. I can explain you this issues in more detail but finally, investment is needed to make this business much bigger.
I have the projections ready for this product to make it one of the largest e-commerce stores and an extremely profitable venture. All I need is your support for the same. I request you to contact me so that I can showcase the projections that I have prepared for the same. For now I am attaching the sales projections, requesting your time to share more and explain the same.
$100,000 USD are needed to overcome operational issues and meet the increasing number of orders.