Been discussing and talking to my 2 other partners of late, about our mission statement, values etc

It is quite a challenge to have to explain it to them but because we have been working on the Business Plan submissions for the competition, we were forced to ask ourselves certain questions.

Here is the gist of our business plan (as we did not advance into the semi-finals, I see no harm in temporarily publishing this page)

All the headers in BOLD are mandatory sections we had to address for the business plan competition. Also we weren’t allowed to mention our names in the business plan hence we were referred to as Partner A,B or C respectively. And the graphic below is not at all anything final, as this was a quite mock-up in order to give ECO RE:STORE  a certain look for presentation purposes to the competition as well as the SIP pitch.

INTRODUCTION
ECO RE:STORE is a business venture between 3 Singaporeans who are active in the international climate change community. This is a lifestyle retail brand with an environmental focus.

The RE: in the name suggests the commonly promulgated 3Rs – REduce, REuse, REcycle, and what we feel is the 4^th R – REstore. This will be brought together in a store concept which looks into REdesign, REgeneration and REconnection of all that is around us.

POSITIONING
To position ECO RE:STORE as the best lifestyle store for eco alternatives to everyday products, which supports local and regional sustainable businesses.

PRODUCTS
ECO RE:STORE will focus on lifestyle products made from sustainable materials, with ethical production methods. Being locally or regionally sourced ensures low-carbon processes. Aesthetics and functionality are also of importance.

Products sourced from local and regional suppliers will be marked up by +>50%, while products manufactured in-house will trail market pricing.

OPPORTUNITIES, MARKET SIZE & DEMAND
OPPORTUNITIES

Environmental issues
As ‘hot topics’ on the international agenda, there is increasing media coverage, which in turn increases awareness.

Global community

There is growing affluence, and with education, a more environmentally-conscious mentality is nurtured. ECO RE:STORE will also ride on the ‘green wave’ that corporations are currently promoting.

Competitors

The 4 main online stores which focus on providing environmentally-friendly products are based in the UK and USA.

Only one physical eco store, CHOOSE, exists in Singapore.

It focuses on providing environmentally-friendly alternatives to daily household essentials. CHOOSE’s customer base does not foster the conversion of the general masses into potential product consumers.

In comparison, ECO RE:STORE places emphasis on lifestyle products, and taps on the consumerist culture as the main driving force for both the green conscious and the trend consumers.

CONSUMERS / MARKET SIZE

Report from www.SurveyGizmo.com

9. Would you buy an environmentally friendly product, even if it costs a little more?

Summary
Value	Count	Percent %
Yes, if the price is within 10% more	55	56.12%
Yes	38	38.78%
No	4	4.08%
I don’t care	1	1.02%

Statistics
Choices Selected:	98
Total Responses:	98

2009 Paypal Survey

Singaporeans cited time (71%), crowds (61%) and access to a wider range of products (58%) as the main reasons for avoiding the shops.

Singaporeans strongly favor their home grown talent, with 76% of respondents perceiving local merchants to be at least on par if not better than overseas merchants.  Lower prices, local currency payment options and faster delivery of goods were cited as the top three advantages of local online merchants, whilst overseas merchants are preferred for their product availability and choice.

(http://www.searchsmbasia.com/en/content/survey-reveals-singaporeans-spend-nearly-half-their-holiday-cash-online)

2008 Nielsen Global Online Survey
Of over 26,000 internet users, eight in ten Singaporeans shopped online.

Over 85% of the world’s online population made a purchase via the internet. This represents a 40% increase in the number of users in the online shopping market over the past two years.

(http://www.channelnewsasia.com/cna/cgi-bin/search/search_7days.pl?status=&search=online%20shopping&id=334467)

2007 Eye on Asia, Grey Group Asia Pacific study

82% of Singaporeans are willing to engage in environmentally-friendly practices, which is more than the Western average of 78%, but lower than the Asian average of 86%.

57% of Singaporeans would pay more for green products.

(http://www.channelnewsasia.com/stories/singaporelocalnews/view/330675/1/.html)

2009 Cone Consumer Environmental Survey

44% of consumers have unchanged ‘green’ habits despite recession

1/3 of consumers are more likely to buy ‘green’ today

VALUES CREATED (not sure if you want to put this in)

Redesign. Regeneration. Reconnection.

Responsibility.

Recapture.

Relevant.
CHALLENGES & SOLUTIONS
LACK OF START-UP CAPITAL

First Launch
An online presence is most cost-effective. However, arrangements will be made with existing physical shops, such as Courts, Timberland, Borders, Molecule, Banyan Trees, etc, to host our products on consignment or incorporated as a shop display. They will be considered our Exclusive Distributers.
CREATING CAPTIVE CONSUMERS

Apart from appealing to the existing consumer base, ECO RE:STORE will enhance and maintain our appeal through:

Filling the Gap

A knowledge gap exists between the average man and existing eco shops. Through creating awareness, we will advocate educated decisions which support a sustainable lifestyle.

Outreach

We encourage corporations to adopt environmentally-friendly products as corporate gifts, and are producing fundraising / entrepreneurship packages for students in educational institutions. Through these initiatives, our products will tap into the wider circles of families and social networks.

Story-telling

Showing transparency in the production of products adds credibility to ECO RE:STORE’s ethos, connects consumers to the product, and educates them.

Collaborations and Consultancy

Working with companies to tailor sustainability projects in line with their values, and in the process, establish ECO RE:STORE’s credibility.

Products

Established brands from overseas will be imported on consignment, adding diversity to our product selection and appealing to the brand conscious. In doing so, we align ourselves with these brands and their ethos, while simultaneously raising brand awareness for ECO RE:STORE.
Customer Rewards

Apart from discounts and a point-system for patrons, ECO RE:STORE intends to form alliances with other ethical stores (eg. organic food shops), to offer consumers better savings. In the process, the first ‘sustainable shopper’ network can be formed. Gifting and ECO Messenger services will not only convenience shoppers, but also increase awareness of ECO RE:STORE.

KEEPING ABREAST OF COMPETITION
Constant innovation and trend-setting will be key to creating a sustainable edge; one which competitors will find hard to replicate.

Management
We are leaders in the environmental scene.

Do-It-Yourself Workshops
This encourages the restoration of old furniture and conversion of disused items. In the process, course fees will also generate income.

Traveller’s Network
Tapping on an existing traveller’s network which spans internationally. We will collaborate in the delivery and collection of products around the world.

ECO Cafe
In the near future, we envision opening an ECO Cafe, which will extend ECO RE:STORE’s ethos into a café experience.

ECO Messenger
Delivery service comprising cyclists on bikes, alike the bike messenger services in New York City.

Customer Product Reviews
To stimulate interaction and consumer engagement, we will provide a platform for customers to publish personal product reviews.

Product
The nature of ECO RE:STORE’s products ensure each item is one-of-a-kind.

Job Creation
By outsourcing components of our projects, ECO RE:STORE is able to create short-term jobs for the less privileged / unemployed.

MANAGEMENT’S COMPETENCE

BRANDING

Partner A majors in Design for Advertising in a London Arts University, and is working on ECO RE:STORE for his Final Major Project.

OPERATIONS

Partner A is an established web designer, and was NDP 2007’s web manager. He also has an extensive freelance portfolio in graphic design and photography.

Partner B has 6 years under his belt in single-handedly establishing an environmental NGO in Singapore and the region, and manages several other social enterprises. He is one of the recipients of the DHL Social Entrepreneur Award.

Partner C is a Corporate Communications major with work experience in the advertising and communications industry.
ENGAGEMENT & EDUCATION
Partner B engages regularly with corporations as a consultant. He has been awarded the British Chamber of Commerce’s Inaugural Inspiration Award in the area of environmental sustainability. ECO RE:STORE will also be working with his organisation for public outreach.

PRODUCTS

Partner C will be engaging our international network in the climate change community in close working relationships, to facilitate the sourcing of products. As a market researcher, she will ensure products procured will meet expectations. She has experience conducting crafting workshops.

FINANCE & ADMINISTRATION

Partner B’s experience in establishing his organisation will facilitate this aspect of ECO RE:STORE.

COMMITMENT IN EXECUTION

Partner A handles all branding, advertising and design needs of ECO RE:STORE.

Partner B handles all the sales and strategises the operations of ECO RE:STORE.

Partner C handles all public relations, marketing and product-purchasing needs of ECO RE:STORE.