6 Letter - Google Docs X written statement a1 X E F5 Dynamic Webtop X E Topic: Traditional V: X Traditional Business X ' Your One time pass X ' Your One time pass X smallbusinesschroncom amen Hll3lllwi I wuulllu up a "cu uumusaa l awn-nu I"! n uualllcw By Stephanie Faris Updated March 16, 2019 Elf965 r2: Thirty years ago, if someone said she was opening a business, it was natural to assume she'd purchase or rent a space, set up w service and work on attracting customers. The internet changed all that, though, and now you don't even have to leave the house to start a business. Even if you do open a storefront, you're expected to have an online presence that makes it easy for customers to get information or place orders. There are many differences between a traditional business and an e- business, not the least of which are startup costs, personnel and logistics. RELATED Do I Need a Business License for a Web-Based Store\"! Advantages of Internet Business Advantages of Internet Businesses The Denition of aCommeroe and E-Business How to Remove Items From Amazonstorefront - , \\vtianellis New Business Startup Costs Starting up a new business can be pricey, especially if it's a retail store. You'll need a storefront, shelving, furnishings and personnel to take care of customers during operating hours. If it's a service-based business, you'll probably find you need . . . __ aim and K ndall Antonelli to lease office space at least parttime, If only to have a conference room and mailing address. ,, iron 'Ipse Csanh 7 to start from the comfort of your home. You'll need a website no matter which type of Waiting for www.googletagmanagercom... 6 Letter - Google Docs X written statement al X E F5 Dynamic Webtop X E Topic: Traditional V: X Traditional Business X ' Your One time pass ' Your One time pass (3' i Vii smallbusinesschroncom CHM\" Newsletters E-Business How to Remove Items From Amazon Storefront New Business Startup Costs Starting up a new business can be pricey, especially if it's a retail store. You'll need a storefront, shelving, furnishings and personnel to take care of customers during operating hours. If it's a service-based business, you'll probably find you need to lease office space at least part-time. if only to have a conference room and mailing address. An online business is much easier to start from the comfort of your home. You'll need a website no matter which type of business you choose, so that cost will be the same. However, if you're selling products, you may need to invest in an online marketplace in your early days ratherthan an independent ecommerce shop. You'll also be required to invest in shipping and warehousing enough products to be able to fulfill orders quickly. Hiring and Managing Personnel In a traditional business, at least some of your employees will need to be available to interact with clients. If you own a store. at least one person will have to be on site during business hours, with someone to relieve that person for bathroom and lunch breaks. If it's a service-based business, you can still employ remote workers and employees who work from home, but you'll need to ensure your office is at least minimally staffed. An e-business has more leeway in how it's staffed. Today's small businesses can get a long way with third-party services that handle everything from manufacturing to logistics to human resources. You can even hire a call center to take m orders or handle customer complaints. This saves you money on salaries, but you'll have to crunch the numbers to see which way is more cost effective. Operating in Multiple Jurisdictions 6 Letter - Google Docs X written statement a1 X E F5 Dynamic Webtop X E Topic: Traditional V: X Traditional Business X ' Your One time pass X ' Your One time pass (3' i . smallbusiness.chron.com WM\" Newsletters orders or handle customer complaints. This saves you money on salaries, but you'll have to crunch the numbers to see which way is more cost effective. Operating in Multiple Jurisdictions Traditional businesses are generally designed to be local. If a company decides to expand to other areas, offices are set up in those cities to sen/ice customers one on one. This means you can personalize your business to that area, which includes being able to easily understand local laws that apply to sales ta_x and licensing. The multijurisdictional nature of an e-business makes things a bit more complicated. If you're selling products to people outside your own state, you'll have to keep up with the laws that relate to the business you're doing there. Fortunately, there are plenty of apps that can now help with that. Shipping and Logistics With a traditional business, even if you sell products, your biggest challenge is in getting items to your store so you can sell them. But even traditional businesses now feel pressured to sell their items online, which means they'll have to line up shipping for that. Still, in a store environment you'll have to worry about issues like shoplifting and product damage as customers come through your business every day. Online businesses face ongoing challenges related to getting products in the hands of customers quickly. Competition from big-box retailers like Amazon means it's no longer enough to get an item to customers in five days to a week. You'll also deal with the logistics of returns, as customers purchase multiple items to try them out, then return them, forcing you to issue refunds and put items back into inventory. @ Letter - Google Docs X written statement a X E F5 Dynamic Webtop X E Topic: Traditional vs X What Is it Like to Oi. X \" Your One time pass X \" Your One time pass 0' smallbusiness.chron.com Reduced Overhead The Uses of Multivariate Analysis in Retail E-Commerce Organizations? When determining transaction costs, businesses have to factor in expenses required to maintain and process the activities. An ecommerce operation doesn't require a salesperson to woo the customer, a cashier to ring up the sale or a brick-and-mortar store for customers to visit. While e- commerce operations aren't free - businesses should have a professional design and maintain them - they require fewer resources than traditional retail stores. Reduced Customer Costs Ecommerce transactions make shopping cheap and easy for the customer, which can increase your net revenues accordingly. To get to a retail store requires a customer to travel to your location, put gas in the car that gets them there and arrive only during the hours the store is open. This inconvenience and expense can keep customers at home. Particularly if you offer free shipping for orders over a certain dollar amount, ordering from your e-commerce site reduces the cost of the shopping experience to the few minutes it takes to place items in the shopping cart and type in a credit card number. That encourages impulse purchases that increase your revenues without a corresponding increase in expenses. Integration Stores that have both e-commerce and retail operations can combine the two to make the ordering process more efficient. Customers can order and pay for products online and pick them up at the store. This allows a store's retail operation to prepare the products when in-store traffic is less busy and streamlines the process for the customer. It also requires less retail space to market its merchandise when the Internet serves a similar role. Inventory and Distribution . __.__.___.___ _i__ __._ \"4..-- s.._____..:__ __-.- I... _...__.__i:._:.__ _.._._i.. -i.-:._ .___.___-.___._.. _._.: .l:-a._:l_..n.:-_ i: _ -A--- MOST POPUL R 1 2 How In Add P0 to a Quickbooks Online Invoice Advantages & Disadvantages of an Online 8. Ofine Venture How eCommerce Can Reduce Business Transaction Costs Denition of a Brick and Mortar Retailer 6 Letter- Google Docs X C' i ,i, smallbusinesschroncom . i written statement ai X E F5 Dynamic Webtop X E Topic: Traditional vs X What Is it Like to 0'; X ' Your One time pass X ' Your One time pass Laundry businesses aren't just for people who don't have laundry facilities in their homes. Many professionals are choosing to use laundry services because theyjust don't have the time to do their own laundry. The Business Model Laundromats can seem, on the surface, to be a good investment. Laundromats were self-service before self-service was the norm, which means you probably won't have to invest in a team of employees to be on site 24 hours a day. In fact, some locations are fully automated, meaning you won't need an employee on site at all. However, location can be very important when you're buying a laundromat. Consider areas where residents are less likely to have their own washer and dryer, and find a safe, well-lit area, preferably in close proximity to retailers and restaurants. College students, apartment-dwellers and those living in urban areas are more likely to need laundry services than a suburban area filled with single-family homes. You'll also need to choose an area that isn't already serviced by a coin laundry. Drop-off and Delivery Although a coin laundry can see plenty of traffic in urban areas and college towns, it's important to understand today's consumers. Younger generations are increasingly relying on app-based delivery and pickup for everything from groceries to restaurant meals to dry cleaning. In fact, 63 percent of young adults now use third-party delivery apps. What does this mean for your coin laundry? It means that the bundle services that have long been a part of these businesses are more important than ever. You may find that the bulk of your annual income comes from paying delivery drivers to pick up and deliver laundry, as well as additional staff to \"fluff 'n' fold" it for these customers Allowing customers to drop off and pick up their laundry will bring in even more revenue, but you'll need to pay enough employees to wash, dry and fold all of those clothes. MOST POPULAR 1 How to Open a Laundromat Business 2 Laundry Business Tips 3 How to Start a Laundromat Business 4 Marketing a Laundromat Capital/10ml What's in your wallet? 6 Letter - Google Docs X written statement a1 X E F5 Dynamic Webtop X E Topic: Traditional V: X What Is it Like to 0t X ' Your One time pass X ' Your One time pass (3' . smallbusinesschroncom \"Ilka\" Newsletters MOST POPULA 1 How to Open a Laundromat Business wash, dry and fold all of those clothes. Startup Capital Required Although coin-operated laundries may have relatively low operating costs, getting started can be very expensive. You'll need enough commercial-grade washers and dryers to handle the daily workload, as well as comfortable seating and amenities like WiFi, televisions and vending machines. Expect to pay between $200,000 and $500,000 for a new coin 2 Laundry Business \"\"8 laundry business, whether you purchase one or start from scratch. . . . , _ , _ 3 How to Start a Laundromat Business Things can get even more expenswe if you plan to modernize your busmess. Some laundries are attracting customers by setting up play areas for kids, keeping friendly, helpful attendants on site or even hiring local entertainers to keep . . . . . . 4 Marketing a Laundromat customers entertained while they wait. If you plan to offer even more amenities, you may need to partner With a manager who can help with building and overseeing a caf, bar, snack stand or restaurant. Ongoing Business Fees If you haven't been to a coin laundry in a while, you may not realize that the "coin" has been taken out of the equation. Many facilities accept credit cards and mobile payments, so you'll need to consider the transactions fees you'll pay. This is in addition to your monthly lease and utilities, regular cleaning services costs and business licensing fees, as well as taxes. Although self-service laundries have traditionally been mostly free from taxes, recent legislation may change that. There's also the issue of security. You may want to install security cameras to keep theft down, whether you have an attendant on site 24 hours a day or not. One issue you'll face is that customers may put clothing in machines and leave the premises. This can be especially common if you have shops or restaurants nearby. It's important to have signage installed letting customers know that you aren't responsible for clothing left unattended. and you should also have a posted policy as to what will happen to clothing that is abandoned. How to build a perfect - B Read More 6 Letter- Google Docs X C' .i . smallbusiness.chron.comi ..i written statement al X E F5 Dynamic Webtop X E Topic: Traditional V: X Three Types of Locz X ' Your One time pass X ' Your One time pass r'i A mobile business provides services to customers on the go. This type of business is flexible and can operate from a buslness on the GO variety of locations. A company operating in this manner benefits from low overhead costs and having the ability to provide convenient customer service. One disadvantage faced by mobile businesses in some areas include being required to register under local business ordinances. Another is limited offerings if the business is selling products rather than services. Examples of common mobile businesses include food trucks and housekeeping services. Business in the Cloud A virtual company operates on a remote basis. without a physical business location. All work is completed online, and employees are often located in different states or countries. Companies benefit from this business model by having the ability to hire top talent from anywhere in the world without the barrier of location. Operating costs for this type of business are often much lower than in a traditional brick and mortar, allowing for higher profits. as a company does not have to pay to operate a physical location. A major disadvantage is that because of the lack of personal connection created by working face-to-face with customers. a client may not have a strong sense of loyalty to the business. Examples of common virtual businesses include Web design and online education. Location, Location, Location Many businesses can operate only one type of location; for example, a towing service cannot be operated virtually. However, some businesses can be run from multiple types of locations. These companies are able to meet the needs of a very broad customer base, as they offer multiple ways for people to purchase products and services. For example, many restaurants have both a brick and mortar location and a mobile food truck. Stores often have brick-and-mortar locations and websites to accommodate customers who prefer to buy in person as well as those who wish to shop online. MOST POPULAR 1 The Key Features of an E-Business 2 Dene a Virtual Ofce 3 Pros & Cons of a Business Roles That Leadership 8: Organizational 4 Culture Play in Giving an E-business Its Unique Advantages Amazon's Alexa might be able to mimic dead relatives soon B Read More 6 Letter - Google Docs X written statement al X E F5 Dynamic Webtop X E Topic: Traditional V: X Three Types of Loc. X ' Your One time pass X ' Your One time pass 6 C' sierra.instructure.com t . SummerZOZZ Home This is a graded discussion: 25 points possible due 261ml 0 Announcements u 26 _ Traditional vs. E-Commerce Discussion A? t\" "\"\" Assignments Discussions Descrl ptlon Grades When we talk about commerce, we are referring to a way to buy and sell good at a scalable level. The are two types of commerce we typically see in the small business environment. Traditional commerce People is buying and selling goods face-to-face. Typically. money is exchanged directly using the traditional commerce approach. Electronic Commerce (or E-Commerce) is not face-to-face. The exchange of buying and selling goods takes place over the internet. We have seen this form of commerce grow over the past few decades Pages . Directions Files Syllabus Review the article Traditional Business vs E- Business. :2- Prepare written responses to the following questions. Post your response in our class Discussion Board by: (Wednesday)and respond to two of your classmates' responses by: (Sunday). Responses for each question should be at least 150 words. Quizzes Find another resource that addresses how commerce is impacting small business and write about the similarities/differences between Traditional Business vs. EBusiness and the resource you selected. Modules BigBlueButton QueStlons - As a potential small business owner, how will you leverage both traditional and e-commerce. What method do you believe works best for your specic business? - What are some of the advantages and disadvantages of each type of commerce? Collaborations Chat 0 How has E-Business reshaped the way we do business? Sierra College Library Reso U rCeS Google Drive , , , . . . , . , , . . . , , , ReVIew the article Traditional Business vs. E-Business. r: In addition, you can nd peer-rewewed resources concerning the Entrepreneurial Mindset by using our Online Library or Google Scholar (Links to an Class Climate external site.). Surveys Student WWW 24/7 Teach i ng Justication SWW" Online Tutoring This assignment encourages students to think critically and analyze the characteristics of the entrepreneurial mindset. Because many students may not be familiar with traditional and e-commerce, this Sierra Connect assignment helps students conceptualize the commerce. Students will be able to review how commerce works in a small business setting and apply these concepts to their own small business; while developing their own interpretations about the topic, Students will engage in a discussion with one another to learn how other may interpret the signs of an entrepreneur's mindset. Behavioral Intervention CARE Team Assessment Microsoft OneDrive Students will be evaluated according to their contributions and participation in the Discussion Board activity and according to their written responses submitted in response to questions the 3 questions. Microsoft Teams The \"'br'c can be found by hOVeI'IrIg your mouse over the 3 horizontal dots In the top right corner. classes Search entries or author Unread E m