I’m 24 years old and from Vietnam.
I came to the US in March 2014 in a small town, in the state of Missouri. I couldn’t speak English in the beginning. I was able to make some kind of simple conservations. Without any College or Bachelor degrees, I worked in a nail salon with my mother. To be able to communicate and in order to support my family in paying the living and miscellaneous expenses, I took some English classes. I had no friends in the US. The native speakers did not understand what I said so they were afraid to communicate with me.
One day, I could not earn enough money and the cost of living kept increasing constantly made me so tired. I found eBay that inspired me about the success stories of small business owners. And I thought, by all means, I have to be like them. This kept urging me to quickly create a business plan and most importantly to learn English.
I thought this was such a great method to earn a huge amount of money If I put more time and effort into it.
I shared this business plan to 3 close friends and they agreed to support me. We started to contact wholesale supplies for dropshipping and wholesale bulk order, then we listed these items on our eBay platform and our website therike.com, gross profit margin of 15% - 45%. The story continues then….
There will be many people in my country – a poor country backward having a job if my business plan is successful. I will be the bridge connecting them to the world of eCommerce, where they can work online at home, live happily and make their dreams come true.
Although many Internet companies have recently failed, the Internet is still poised to support e-commerce retailers. Most of the dot-coms failed because of too easy access to capital and unproven business models with no true revenue streams. The Rike will overcome these problems with an easy-to-use website and an efficient distribution system.
We are constantly training to supplement a solid workforce. Our purpose is branding private label products of The Rike and increasing the gross margin to 70-100%.
In the next three years, The Rike intends to create an icon E-commerce brand-focused marketing
The Rike objectives for the next three years are:
• To make The Rike an icon brand.
• To develop an effective, well-placed e-commerce site for sales of cosmetics, skincare, lotions, makeup kits, Toys, electronic equipment, home decor, fitness products, camping products, furniture, outdoor tools, military supply, clothing products, etc.
• To launch a private label skincare product with the name: Lordship bean facial and bath wash powder, which will be posted on therike.com website, focused marketing campaign in a controllable and measurable market that will drive customers toward the company's website.
• To create an infrastructure for the fulfillment of Web-based sales.
• 80%: Sales online through company website therike.com, Amazon, our eBay Store, Social media Instagram, Facebook, Marketing Influencers
• 10%: Local stores and Direct Sales Distributors
• 10%: Register selling on massive marketplaces such as Walmart, Target, etc.
• The US. Domestic & Global Shipping
The Rike’s mission is to provide varied products in different categories using the Internet to lower the consumer's cost. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.
To become the leading provider of THE RIKE BEAUTY way: Our goal is simple. We want to bring out the best version of your radiant self with the best possible, naturally derived ingredients. Each women's skincare and beauty product we craft uses cutting-edge science to harness the healing powers of ingredients that Mother Nature has been so kind as to provide for us.
To open many job opportunities for people in our country, Vietnamese and even American when they work with The Rike.
We are currently seeking a $25,000 capital investment that will give us the financial flexibility to achieve these goals, to develop Lordship Bean Facial and Bath Powder on our website therike.com, while expanding the eCommerce business model.
With the amount of funding of investors, we will use for activities such as:
⇾ 30% Importing
⇾ 25% Sales & Marketing
⇾ 25% Key Hires
⇾ 20% Operational
Use of funds
The Rike will incur the following start-up costs:
- Researching market, designers, models and influencer teams to promote Lordship Bean products
- Hiring copywriters and listers to list and write content for products ordered from wholesale suppliers to expand eBay store with a variety of items (categories)
- Developing therike.com sales channel and Instagram, Facebook (run ads)
- Developing sales channels for Lordship Bean products on Amazon.
- Renting a warehouse and enter a new quantity of goods.
- Hiring 2 more customer care staffs
- Office supplies.
- Web development.
Ecommerce Online Store
Service or product line
Cosmetics, skincare, lotions, makeup kits, Toys, electronic equipment, home decor, fitness products, camping products, furniture products, outdoor tools, military supply, clothing products, etc.
Our initial focus on the consumer space with our launch product is just the first step in our long-term roadmap to growth. In order to capture a larger market share and continue scaling the company exponentially, we are planning on rolling out a B2C model in the future. This will provide The Rike with new revenue streams and will offer valuable satisfaction for our customers, a wide variety of products in all areas to serve the daily necessities of everyone.
At this moment, we have 1500 SKU products in different categories. Our expectation will increase this number up to over 20,000 SKU product listings.
With this round of funding, our objective is to improve and expand our sales and marketing efforts and fulfill pre-orders in time for the 2020 holiday season.
Private Label Product
Future Development Opportunity
The Rike will market and sell private label (manufactured by a company that places the retailer's name on the packaging) with the name of the product: Lordship Bean Facial and Bath Cleansing Powder to individual consumers via the Internet. Our team has already finished the product and design development
About Lordship Bean Facial and Body Wash Powder
Stay As Young As You Feel!
For thousands of years, traveling through dusty drought lands alongside cattle and children in town, the Asian and European women found purifying relief from using the blossom of Camellia Reticulata. Pesticide-free blossoms are dried and crushed into a smooth powder, then they mix it with beans to form a mask and apply it on their face with flower powder. Bean powder is a magical material that has dozens of uses.
Lordship Bean delivers life-changing results and it’s a secret ingredient that has kept Asian and European women looking youthful for centuries. Using it daily makes skin look naturally young and beautiful.
A truly luxurious gentle scrub that can be fully tailored into your daily facial routine.
Our Lordship bean powder gently exfoliates while promoting new cell turnover without damaging the surface of the skin. It can easily be added to any facial cleanser to create a luxurious buffing experience or used alone.
• Deep pore cleaning by absorbing excess oils
• Heals eczema, discoloration, dry skin and relieves sunburn
• Silky grains and bean exfoliate without damaging the skin
• Removing dirt and dead skin cells, encourage fresh skin cell formation
• Promotes a soft smooth texture and a radiant glow
• Safe and gentle scrub for those prone to acne and blackheads
• Our 100% Organic Lordship Bean cleansing powder gently cleanses, hydrates and conditions your facial skin, leaving your skin looking young and beautiful.
Problem Worth Solving
The fact that appearance is always the first impression. Whether you are preparing to meet friends or hanging out with boyfriends, or you're going to interview in certain companies, then caring about your appearance is one good way to attract people. Moreover, for everyone in every field especially are successful and modern women, you'd better look polished and professional. Not everybody is blessed with naturally good skin. Many factors impact from external environmental causes our skin to quickly darken, dull, rough and premature aging.
With the times and ages, your skin is no longer as resilient, smooth and toned as it was. The most common issues such as black bronzed skin, freckles or sagging situations which may be configured in a variety of ways.
A significant trend in America, and abroad, is that people are taking a more proactive interest in their skin health. This is exemplified by the increase of skincare clubs and skincare club memberships. People are looking to avoid invasive surgery and powerful chemical products. People are taking an active role in the maintenance of their skin health and practicing preventive medicine.
To have a fine bright and healthy skin is that every woman wants but most cannot attain. They keep choosing different ways to vamp up their skin support and using many steps to protect their skin against UV. During the skincare routine, facial treatment is also an indispensable step. Understanding every woman demanding, our company has discovered 1 secret method to meet all beauty needs from facial to the white bath that is Facial and Bath Powder Lordship Beans.
It is a magical combination of beans and flowers of a rare formula of Royal ancient. It helps beautify and detoxify the skin effectively and comprehensively nourish healthy skin, natural beauty, smooth, lush vitality.
The Rike has carefully developed a diverse marketing plan intended to keep our brand in the hearts and minds of our existing and prospective customers, enabling us to continue expanding our reach and grow our business. Between our massive social network followings and email database contacts, we regularly communicate directly with over 100,000 consumers.
The Rike is focused on the merging/redefined Internet marketplace. The users will be Baby Boomers, which represent approximately 50% of the discretionary income currently in the United States. They are looking for proactive, non-invasive, and non-pharmaceutical ways to stay healthy skin as they age.
The aging of the American population is a significant trend driving the use of facial and body wash powder. The Baby Boomers are now reaching middle age 55-74 and mortality is becoming a focus. This demographic segment, which is comprised of 85 million people, represents over 55% of our county's discretionary income. It is reasonable to believe that this wealthy market segment will continue to grow the sales of skincare products.
We're currently doing 3 Types Of Ecommerce Business Revenue Models:
1. Drop Shipping: let us set up an online storefront and take the customers’ money. The rest is up to our supplier. This frees us from managing inventory, warehousing stock, or dealing with packaging, but there’s a major caveat. If our wholesalers are slow, product quality is lower than expected, or there are problems with the order, it’s on our head (and in our reviews).
2. Wholesaling and Warehousing: Wholesaling and warehousing eCommerce businesses require a lot of investment at the start – we need to manage inventory and stock, keep track of customer orders and shipping information, and invest in the warehouse space itself.
3. Private Labeling and Manufacturing:
The Rike Company that manufacture products offsite for sale send the plans or prototypes to a contracted manufacturer who produces the product to meet customer specifications. Sales channel establish on a third party such as Amazon, or to The Rike company selling the final product.
On-demand manufacturing allows us to quickly change suppliers if we encounter problems with product quality. The startup costs are minimal, and if we’re interested in potentially opening our own production facilities later, this is a good way to test a new product or concept.
With much of the heavy lifting already completed, The Rike has laid the groundwork for rapid expansion going forward. Here’s an overview of our accomplishments since first founding the company launching in 2014.
• Business plan completion. This will be done as a roadmap for the organization. This will be an indispensable tool for the ongoing performance and improvement of the company.
• Website completed.
• Complete hiring of the initial company personnel.