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Compose a 500 words essay on Business: Entrepreneurship. Needs to be plagiarism free!Download file to see previous pages... Most companies cannot compete with iBuy in product section due to the fact t
Compose a 500 words essay on Business: Entrepreneurship. Needs to be plagiarism free!
Download file to see previous pages...Most companies cannot compete with iBuy in product section due to the fact that it takes millions of dollars in inventory to sell so many items. iBuy makes money in the spread between the final selling and their negotiated cost. For example iBuy might negotiate $2 cost for a red pen. The pen sells at the online store at $2.79. The gross profit earn on the pen is the spread of $0.79. iBuy makes a lot of money on wholesale transactions. Some of the clients of the company include school districts, federal government, and fortune 500 companies. The human capital of the company is excellent. Despite only having seven employees the capabilities of the staff are outstanding. The company looks to save money in any way it can. Recently iBuy was able to reduce its credit card transaction cost from 3% to 2%. a move that saved the company $1,700 a month. The internet allows iBuy to deliver value that a brick and mortar company cannot achieve. As I mentioned earlier iBuy can offer customers a much bigger product selection than traditional companies due to the fact they do not own its inventory. iBuy offers a very large selection of suppliers scattered across the United States. Traditional companies that own their inventory cannot afford to have 100 warehouses. iBuy’s supply chain enables the company to offer its customers next day delivery.
