Write an essay on Business and EconomicsI attached my professors instructions. Some extra details: for my business plan I currently do own a small online retail store that sells mainly brand name shoes like sneakers, slides, boots such as Nike, Jordan, Adidas, OffWhite and designer shoe brands such as gucci, balenciaga etc. I also sell brand name clothing designer bags purses and belts. This can be included in the business plan for what I would like to sell. My target market is young adults, specifically those who like to save money since my prices are cheaper than online reselling apps and websites. The way I am able to do this is by buying directly from manufacturers out of the country in China. The products are shipped overseas to California then to me in New Jersey. China is known to have cheaper prices and costs for production so this is what allows them to offer me products at a discounted price which then I can sell at a higher price but still less than the prices on the market currently, allowing me to profit. What made me want to start this business (which may be a reselling business, I am not sure what the correct term for my business is) is because of the high prices on a lot of popular items nowadays just because of the brand name. I feel like a lot of prices are too expensive due to the hype in the market and brand names. For example an app I often compare prices to is called StockX which is made for resellers. I notice the original retail price of some shoes will be $100 then in a few months their value increases and they will be around $300+! Me as a previous customer of reselling apps like StockX, got annoyed with having to pay so much for sneakers because I missed the release day and now value has gone up making items too expensive, I believe this is not fair so I want to be able to offer people their favorite items at better prices. Please ask any additional questions which can be used in this business plan that I may have missed. Thank you!
