Project Proposal

Team:
Carrie Graham
Yinping Hu
Anthony Minford
Mengxue Ni

Project Description:
We will create an app that allows users to either do their own interior designing or connect to an interior designer to furnish their house. The user will take a picture of the room as well as input the dimensions of the room into the app to start.

The user will then be able to select from a range of furniture options and by dragging the pictures of the furnitures onto the photo of the room, the app will generate the view of how the furniture will look in the room. The user can then rearrange and adjust as needed. The furniture can be both secondhand furniture listed by local people or new items listed by furniture stores. If the user chooses a secondhand furniture, he/she will complete the transaction within the app. If the user selects items from the furniture stores, he/she will be redirected to their websites to complete the transaction. The users can save their designs and publish those into the gallery to share with other users.

If the user wants someone else to do the designing, he/she can also be connected to an interior designer who can also use this app to design and present to the client. The interior designers will be rated by their clients so other users can use as reference.

Business Case:
FurnishMe will generate approximately $5,455,496 in profit over its first 3 years.  The cost of developing the app, incurred in its first year only, will be $54,154.  Ongoing costs for the business will reach $1,240,550 over 3 years.  FurnishMe will produce revenues of $6,750,000 over 3 years through enterprise listing charges (5% for each item a company lists on the FurnishMe app), sales commissions on items sold using the platform (10% sales commission on each item sold), and annual membership fees paid by interior designers ($50 per member per year).  The rates listed above are based on industry standards. Thus, the revenue FurnishMe will generate, $6,750,000, minus its cost, $1,294,504, equates to profits of $5,455,496 in 3 years.