Sport Universal: Building A Strong E-Commerce Platform For Sport Products And Accessories

Background of the Business

Over the last bygone years the business industry has been benefitted with the vast scope of social and digital media. According to Cuneen & Tobar (2017, pp. 121-133), as compared to the earlier times, the modern generation largely depends on the virtual world. It is noted that the expansion of these mediums have completely changed marketing and growth of a company within and outside a nation as well. In addition to its widespread reach, the rise of e-commerce acts as balance between the sellers and the purchasers (Barling, 2013, pp. 118-128). Additionally, setting up an internet medium in an organization for carrying out operations has various pre-requisite. E-commerce along with facilitating selling of goods also caters to transmitting information or money electronically (Ditizio, 2016, pp. 13-27). The multi-dimensional channels connect businesses to their target customers and to other firms as well (Welfare, 2015, p. 63).

On the other hand, like any other business tool, e-commerce also has its own set of advantages and limitations. The growing economy has offered entrepreneurs with a vast opportunity for growth (Brown et al., 2017, p. 42). It is noted that setting up an e-commerce site in a firm involves a number of risks. It is only with building of proper plans, controlling and coordinating them with organizational objectives that leads to success. As stated by Ramcharran (2013, pp. 46-60), entrepreneurs tend to recognize the growing population and technological developments as a scope for development. In order to secure a position in the market, managers highlight the need for innovation within their companies.

This particular project is based on a new company named Sport Universal and its motive to develop an e-commerce. Being a newly formed organization, the management of the firm has tended to expand business by setting up a modified e-commerce platform. Further, several aspects like background of the business, competitive review, and an analysis of the market is taken into consideration. In order to develop the e-commerce platform, marketing, management, and financial plans are developed as well. Lastly, being faced with various risks, a contingency strategy is built up.

Sport Universal is recognized to be among the most famous companies that specialize in sport products and accessories. In addition to performance apparels, the company will sell team uniforms. It is noted that the firm apart from producing and selling sport goods to the people, also takes part in charity. The company shall donate about 4.4% of its earning on a single purchase to a non-profit organization. Further, the management of Sport Universal recognizes sports as a tool to build up inspiration and thereby develop societies. Like the successful enterprises in the industry, the company along with its widespread product diversity will successfully construct a fusion of performance and obsession (Rothenberg, 2015, pp. 312-317).

Industry and Competitive Analysis

According to Fried & Mumcu (2016, p. 76) there exits public and privately owned companies in the sector. Sport Universal is known to be a privately owned enterprise. It is a company that not only will focus on earning an increased amount of revenue, but also believe in giving back as a way of social welfare. Concerning the products, the firm has three separate departments, which can be differentiated into the following:

1. Team Shop:
2. Men`s Lacrosse
3. Women`s Lacrosse
4. Men`s Soccer
5. Women`s Soccer
6. Men`s Basketball
7. Women`s Basketball
8. Men`s and Women`s Team wear
9. Men`s Section:
10. Sportswear
11. Of Dust and Football
12. Gear and Accessories
13. Women`s Section:
14. Sportswear
15. Of Dust and Football
16. Gear and Accessories

Being situated in the USA, Sport Universal products will be expertly designed and manufactured in New York City. Further, the use of moisture wicking polyester mesh and high quality materials also adds up as uniqueness to the goods and will also help to attract customers (Bikkembergs, Willame & Bikkembergs, 2013, pp. 141-149). Unlike the team shop where products are sold in a bulk, the men and women section allows purchase of a single piece. It is noted that the company offers its customers to donate to a cause of their choice from within the price of the good. As per Vogel (2015, pp. 512-520), the organization`s movement to Play for Greatness is also considered to be an unique idea that has greatly benefitted business and the society at the same time. On the other hand, the development of alliances acts as a backbone to organizations in the sport industry (Billings & Ruihley, 2013, pp. 210-219). Sport Universal will not only form a partnership with the street-football-world, but also shall joined hands with international artists and football stars to provide an exclusive range of goods to its customers.

Principal Competitors

Being located in the sports industry, Sport Universal like any other new organization will be confronted with a high degree of rivalry (Pedersen, Thibault & Parks, 2014, pp. 31-45).Bottom of Form It is noted that setting up a modified e-commerce platform for business will also result in an enhancement of rivalry. According to Rines (2017, p. 90), all most every firm in the industry has its individual website that connects to the people across the globe. As pre Beech & Chadwick (2013, p. 190), the major organizations that pose a threat to the initiative of Sport Universal are as follows:

1. Adidas
2. ASICS
3. Nike, Inc.
4. Reebok
5. Under Armour
6. Converse
7. Maverik Lacrosse
8. Puma SE
9. AND1
10. Brine

Strength and Weakness of Competitors

Based on the list of competitors, their various strengths and weaknesses can be analyzed as follows:

Competitor Facts
Strengths	Weakness
1. Increased global reach	1. Costly products
2. Diversified range of goods	2. Similar product available in the market
3. Well defined promotional strategies	3. Presence of replica goods
4. Stronghold goodwill	4. Focus on profit maximisation
5. High customer satisfaction	5. Degraded flexibility
6. Sponsors reputed teams and events	6. Poor adaptability to changing external conditions

Table: Strengths and Weakness of Competitors

(Source: Ratten & Ferreira, 2017, p. 411) 

In order to ensure growth among over the internet and also within the people of the world, the management team of Sport Universal will need to focus on building up a strong competitive edge. As compared to its rivals, the firm over the years has been focused on its idea to spread social awareness among the people by involving them to play (Van & White, 2015, p. 165). On the other hand, the reasonably priced goods also act a positive aspect in this case. Furthermore, the following will be followed by the firm to ensure a success of its e-commerce plan:

1. Focussing on brand strategy by developing a unique mission
2. Enhancing customer friendly packaging of goods
3. Providing zero charge door step delivery
4. Offering periodical online discounts
5. Asking for feedback
6. Providing free gifts on purchase above $1000.  

Target and Potential Market

Competitive Positioning

The target market for Sport Universal`s e-commerce set up can be divided into the following sport categories:

Sport Categories	Total Population	Age Groups
Baseball	17.6 million	7-11 years = 4.5 million 12-17 years = 5.1 million
Softball	15.8 million	7-11 years = 2.9 million 12-17 years = 3.9 million
Volleyball	12.5 million	7-11 years = 1.5 million 12-17 years = 4.0 million
Basketball	32.1 million	7-11 years = 6.9 million 12-17 years = 8.3 million
Football	22.1 million	Tackle Football = 9.1 million Touch Football = 13 million
Other Sports	198.4 million

Table: Target Market of Sport Universal

(Source: As created by author)

It is noted that Sport Universal shall enjoy a sustainable market potential with stability of the website, strengthening of competitive edge and further growth of target groups. In addition to individual parents and participants, league representatives, team coaches, school team managers and sport performance firms shall also greatly towards increasing the sales volume of the organization.  

According to Grewal & Levy (2017, p. 26), marketing objectives is recognized as one of the most fundamental aspects that greatly govern development and success of a business. The marketing objectives of Sport Universal are the following:

1. Expand global e-commerce platform
2. Increase sales and ROI
3. Spread social awareness

As per Horne & Horne (2013, p. 31-51), the management of an organization greatly focuses on developing an effective marketing plan to market its goods on the internet. The marketing strategies that will be implemented by Sport Universal are as follows:

1. Managers will largely focus on the individuality and uniqueness of the products
2. Providing a face to the firm and communicating more efficiently with the public thought a 24*7 online chat
3. Using of social media websites to market goods
4. Sending newsletters and emails to people with attractive offers
5. Optimization of the company website into search engines
6. Pay-per-click strategy will also be effective in the process of marketing goods
7. Development of mobile applications for easy access up the people
8. Using of multiple online platforms to launch stores

As stated by Nicholson (2015, p. 241), one of the most important functions for the success of an e-commerce business it the careful planning and coordination of promotional techniques to reach the people. It is noted that the following techniques will be incorporated by the Sport Universal as its promotional strategy:

1. Building up a content strategy for the target market.
2. Email promotion will be used to spread awareness regarding new goods.
3. Social media sites like Facebook, Twitter, and others will be used as a medium to launch online stores.
4. Virtual communication with the people shall be effective.
5. Rewarding and providing discount to customers will attract and retain customers.
6. Enhancing on the PR of the firm is largely necessary.

Sales Forecast
	Year 1	Year 2	Year 3
Sales
Clothing	$209,000	$280,000	$340,000
Accessories	$131,350	$210,000	$250,000
Other Products	$55,300	$120,000	$160,000
Total Sales	$395,650	$610,000	$750,000
Direct Cost of Sales	Year 1	Year 2	Year 3
Clothing	$63,000	$90,000	$110,000
Accessories	$25,100	$44,000	$60,000
Other Products	$12,640	$30,000	$40,000
Subtotal of Direct Cost of Sales	$100,740	$164,000	$210,000

Table: Sales Forecasts

(Source: As created by author)

The management of e-commerce operations in Sport Universal will be divided into five separate individuals, which are as follows:

1. Operation Manager – Jill Stranton
2. Marketing Manager – Clark Kenton
3. Website Manager – Bob Hasson
4. Order Processing and Delivery Staff

As per Bouchet, Hillairet & Bodet (2013, p. 263), it is noted that the firm abides by a hierarchical organizational structure, which implies that order flow downwards from the top to the middle to the lower section of the management. Further, it is under a direct order of Mr. Johnson (CEO) that the five individuals shall work. Moreover, it is only with a success of the e-commerce platform that the Board of Directors shall enlarge the administration department for the initiative.

Start – up Costs

Start-up Funding
Start-up Expenses to Fund	$155,400
Start-up Assets to Fund	$194,600
Total Funding Required	$350,000
Assets	Amount
Non-cash Assets from Start-up	$130,000
Cash Requirements from Start-up	$64,600
Additional Cash Raised	$0
Cash Balance on Starting Date	$64,600
Total Assets	$194,600
Liabilities and Capital
Liabilities	Amount
Current Borrowing	$0
Long-term Liabilities	$150,000
Accounts Payable	$0
Other Current Liabilities	$0
Total Liabilities	$150,000
Capital	Amount
Planned Investment	$200,000
Additional Investment Requirement	$0
Total Planned Investment	$200,000
Start-up Expenses	($155,400)
Total Capital	$44,600
Total Capital and Liabilities	$194,600
Total Funding	$350,000

Table: Start-Up Cost Requirements

(Source: As created by author)

Source of Funds
Sources	Amount
Company Collateral	$100000
Profit Re-investment	$200000
Loan	$50000
Total Fund Sourcing	$350,000

Table: Source of Funds

(Source: As created by author)

Fund Uses
Uses	Amount
Legal	$2,000
Stationery	$400
Website Development	$30,000
Insurance	$1,000
Domain Rent	$2,000
Online Marketing	$120,000
Expensed Equipment	$0
Other	$0
Total Start-up Expenses	$155,400
Start-up Assets	Amount
Cash Required	$64,600
Start-up Inventory	$80,000
Other Current Assets	$0
Long-term Assets	$50,000
Total Assets	$194,600
Total Requirements	$350,000

Table: Use of Funds

(Source: As created by author)

Projected Profit and Loss Statement for First Year

Projected Profit and Loss
		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Sales		$0	$12,500	$15,150	$28,000	$36,000	$43,000	$36,000	$48,000	$67,000	$59,000	$25,000	$26,000
Cost of Sales		$0	$4,400	$5,700	$6,600	$8,500	$10,500	$9,250	$12,800	$17,200	$12,890	$7,200	$5,700
Production Expenses		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Cost of Sales		$0	$4,400	$5,700	$6,600	$8,500	$10,500	$9,250	$12,800	$17,200	$12,890	$7,200	$5,700
Gross Margin		$0	$8,100	$9,450	$21,400	$27,500	$32,500	$26,750	$35,200	$49,800	$46,110	$17,800	$20,300
Gross Margin %		0.00%	64.80%	62.38%	76.43%	76.39%	75.58%	74.31%	73.33%	74.33%	78.15%	71.20%	78.08%
Expenses
Payroll		$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800
Other Expenses		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Depreciation		$595	$595	$595	$595	$595	$595	$595	$595	$595	$595	$595	$595
Leased Equipment		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Utilities		$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500
Insurance		$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500	$500
Domain Rent		$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000	$2,000
Payroll Taxes	15%	$2,220	$2,220	$2,220	$2,220	$2,220	$2,220	$2,220	$2,220	$2,220	$2,220	$2,220	$2,220
Other		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Operating Expenses		$20,615	$20,615	$20,615	$20,615	$20,615	$20,615	$20,615	$20,615	$20,615	$20,615	$20,615	$20,615
Profit Before Interest and Taxes		($20,615)	($12,515)	($11,165)	$785	$6,885	$11,885	$6,135	$14,585	$29,185	$25,495	($2,815)	($315)
EBITDA		($20,020)	($11,920)	($10,570)	$1,380	$7,480	$12,480	$6,730	$15,180	$29,780	$26,090	($2,220)	$280
Interest Expense		$1,235	$1,220	$1,205	$1,190	$1,175	$1,160	$1,145	$1,130	$1,115	$1,100	$1,085	$1,070
Taxes Incurred		($6,555)	($4,121)	($3,711)	($122)	$1,713	$3,218	$1,497	$4,037	$8,421	$7,319	($1,170)	($416)
Net Profit		($15,295)	($9,615)	($8,659)	($284)	$3,997	$7,508	$3,493	$9,419	$19,649	$17,077	($2,730)	($970)
Net Profit/Sales		0.00%	-76.92%	-57.16%	-1.01%	11.10%	17.46%	9.70%	19.62%	29.33%	28.94%	-10.92%	-3.73%

Table: Projected Profit and Loss Statement for First Operational Year

(Source: As created by author) 

Projected Cash Flow Statement for First Year

Projected Cash Flow
		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Cash Received
Cash from Operations
Cash Sales		$0	$12,500	$15,150	$28,000	$36,000	$43,000	$36,000	$48,000	$67,000	$59,000	$25,000	$26,000
Subtotal Cash from Operations		$0	$12,500	$15,150	$28,000	$36,000	$43,000	$36,000	$48,000	$67,000	$59,000	$25,000	$26,000
Additional Cash Received
Sales Tax, VAT, Received	0.00%	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
New Current Borrowing		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
New Other Liabilities		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
New Long-term Liabilities		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Sales of Other Current Assets		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Sales of Long-term Assets		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
New Investment Received		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Subtotal Cash Received		$0	$12,500	$15,150	$28,000	$36,000	$43,000	$36,000	$48,000	$67,000	$59,000	$25,000	$26,000
Expenditures		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Expenditures from Operations
Cash Spending		$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800	$14,800
Bill Payments		($100)	($19)	$2,333	$2,833	$6,349	$8,158	$9,540	$7,946	$10,994	$28,398	$21,266	$6,259
Subtotal Spent on Operations		$14,700	$14,781	$17,133	$17,633	$21,149	$22,958	$24,340	$22,746	$25,794	$43,198	$36,066	$21,059
Additional Cash Spent
Sales Tax, VAT Paid Out		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Principal Repayment of Current Borrowing		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other Liabilities Principal Repayment		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-term Liabilities Principal Repayment		$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800
Purchase Other Current Assets		$0	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800	$1,800
Purchase Long-term Assets		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Dividends		$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Subtotal Cash Spent		$16,500	$18,381	$20,733	$21,233	$24,749	$26,558	$27,940	$26,346	$29,394	$46,798	$39,666	$24,659
Net Cash Flow		($16,500)	($5,881)	($5,583)	$6,767	$11,251	$16,442	$8,060	$21,654	$37,606	$12,202	($14,666)	$1,341
Cash Balance		$48,100	$42,219	$36,637	$43,404	$54,654	$71,097	$79,157	$100,811	$138,416	$150,618	$135,953	$137,293

Table: Projected Cash Flow Statement for First Operational Year

(Source: As created by author)

Projected Profit and Loss Statement for Three Years

Market Analysis and Marketing Plan

Projected Profit and Loss
	Year 1	Year 2	Year 3
Sales	$395,650	$610,000	$750,000
Direct Sales Cost	$100,740	$164,000	$210,000
Other Manufacturing Expenses	$0	$0	$0
Total Sales Cost	$100,740	$164,000	$210,000
Gross Margin	$294,910	$446,000	$540,000
Gross Margin %	74.54%	73.11%	72.00%
Expenses
Payroll	$177,600	$192,600	$212,000
Operation Expenses	$0	$130,000	$150,000
Goods Depreciation	$7,140	$7,140	$7,140
Leased Equipment	$0	$0	$0
Utilities (R&D)	$6,000	$6,000	$6,000
Insurance	$6,000	$6,000	$6,000
Domain Rent	$24,000	$24,000	$24,000
Payroll Taxes	$26,640	$28,890	$31,800
Other	$0	$0	$0
Total Operating Expenses	$247,380	$394,630	$436,940
Interest and Taxes (Before Profit)	$47,530	$51,370	$103,060
EBITDA	$54,670	$58,510	$110,200
Interest Expense	$13,830	$12,750	$12,570
Taxes Incurred	$10,110	$11,586	$27,147
Net Profit	$23,590	$27,034	$63,343
Net Profit/Sales	5.96%	4.43%	8.45%

Table: Projected Profit and Loss Statement for Three Years

(Source: As created by author)

Projected Cash Flow Statement for Three Years

Projected Cash Flow
	Year 1	Year 2	Year 3
Cash Received
Cash from Operations
Cash Sales	$395,650	$610,000	$750,000
Subtotal Cash from Operations	$395,650	$610,000	$750,000
Additional Cash Received
Sales Tax, VAT Received	$0	$0	$0
New Current Borrowing	$0	$0	$0
New Other Liabilities	$0	$0	$0
New Long-term Liabilities	$0	$0	$0
Sales of Other Current Assets	$0	$0	$0
Sales of Long-term Assets	$0	$0	$0
New Investment Received	$0	$0	$0
Subtotal Cash Received	$395,650	$610,000	$750,000
Expenditures	Year 1	Year 2	Year 3
Expenditures from Operations
Cash Spending	$177,600	$192,600	$212,000
Bill Payments	$103,957	$455,446	$469,732
Subtotal Spent on Operations	$281,557	$648,046	$681,732
Additional Cash Spent
Sales Tax, VAT Paid Out	$0	$0	$0
Repayment of Current Borrowing	$0	$0	$0
Other Liabilities Principal Repayment	$0	$0	$0
Long-term Liabilities Principal Repayment	$21,600	$1,800	$1,800
Purchase Other Current Assets	$19,800	$19,800	$19,800
Purchase Long-term Assets	$0	$0	$0
Dividends	$0	$0	$0
Subtotal Cash Spent	$322,957	$669,646	$703,332
Net Cash Flow	$72,693	($59,646)	$46,668
Cash Balance	$137,293	$77,647	$124,315

Table: Projected Cash Flow Statement for Three Years

(Source: As created by author)

Projected Balance Sheet for Three Years

Projected Balance Sheet
	Year 1	Year 2	Year 3
Assets
Current Assets
Cash	$137,293	$77,647	$124,315
Inventory	$6,270	$108,781	$109,562
Other Current Assets	$19,800	$39,600	$59,400
Total Current Assets	$163,363	$226,028	$293,277
Long-term Assets
Long-term Assets	$50,000	$50,000	$50,000
Accumulated Depreciation	$7,140	$14,280	$21,420
Total Long-term Assets	$42,860	$35,720	$28,580
Total Assets	$206,223	$261,748	$321,857
Liabilities and Capital	Year 1	Year 2	Year 3
Current Liabilities
Accounts Payable	$9,633	$39,924	$38,490
Current Borrowing	$0	$0	$0
Other Current Liabilities	$0	$0	$0
Subtotal Current Liabilities	$9,633	$39,924	$38,490
Long-term Liabilities	$128,400	$126,600	$124,800
Total Liabilities	$138,033	$166,524	$163,290
Paid-in Capital	$200,000	$200,000	$200,000
Retained Earnings	($155,400)	($131,810)	($104,776)
Earnings	$23,590	$27,034	$63,343
Total Capital	$68,190	$95,224	$158,567
Total Liabilities and Capital	$206,223	$261,748	$321,857
Net Worth	$68,190	$95,224	$158,567

Table: Projected Balance Sheet Statement for Three Years

(Source: As created by author)

Financial Assumptions
		Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Plan Month		1	2	3	4	5	6	7	8	9	10	11	12
Current Interest Rate		10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%
Long-term Interest Rate		10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%	10.00%
Tax Rate		30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%	30.00%

Total Working Capital Required	Year 1	Year 2	Year 3
Net Working Capital	$153,730	$186,104	$254,787

Table: Financial Assumptions and Working Capital Requirement

(Source: As created by author)

Like any other function, e-commerce also has its individual set of risks that needs to be dealt with (Abbott & Fisher, 2015, pp. 111-136). The various risks that will directly or indirectly affect Sport Universal`s plan are the following:

1. Despite of low start-up costs, launching and maintaining of e-business involves a great deal of hidden costs.
2. Custom sites along with requiring a lot of money also needs time.
3. Security of data is another risk that will greatly affect success of the initiative.

In order to avoid the above risks the following steps need to be implanted by the management of the firm:

1. Install modern and highly efficient technologies. In addition to extreme security software, Sport Universal will need to prevent itself form hacking and malicious attacks (Funk, 2013, p. 612).
2. Hire highly qualified and experienced employees. In the presence of IT experts and an expert team to deal with the online mediums, e-commerce gains stability (Nawafleh, 2013, pp. 398-403).
3. As per Larsson (2016, p. 58), careful planning and evaluation of initial costs are highly required to evade and deal with hidden costs.  

Conclusion

Based on the project it can be inferred that Sport Universal will need to take several important matters into consideration before setting up its e-business. The sport industry has provided several opportunities for growth in the modern generation. Based on the background and industry, it can be seen that the renowned company will be faced with a large degree of rivalry on the internet. Further, it is only with the proper development of the marketing and promotional strategies that the firm will be able to develop a modified website. Additionally, being a new initiative the CEO and the Board of Directors spares only 5 individuals to organize the task. The financial planning highlighted project expenses and earnings that the firm will need to abide by in order to establish its e-commerce initiative successfully. However, Sport Universal will be faced with various risks that need to be handled with care by the management to ensure a smooth growth of the company in the virtual world.    

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