DuanMu Reading Capstone Project

Before writing, please read the attach file “Capstone Project Topic” and “Capstone Template” first, then to write about the capstone paper from a project management lifecycle (4 phrases: initiation, planning, execution, and closure) perspective. Please learn about the business background and the paper templates. The project plan for DuanMu Reading please include project scope, project goal, expectation, cost estimates, project timelines and duration, risk assessment so on.

Capstone Paper Topic:
In order to provide convenience and ease the renting process for customers, DuanMu reading decides to create an application as an additional interface for customer to rent and pay.

Business Background:
DuanMu rents hardcopy Chinese books to Chinese readers for less than a dollar per book per month in LA County. Our mission is to fulfill the unmet demand of hardcopy books written in Chinese that cost less, are easier to access, and have more up-to-date choices than current Chinese literature providers. Based on our market research, our initial target market includes Chinese college students in the U.S.

Advantages:
1. Save money. Chinese hardcopy books are very expensive to purchase in US, readers can save money by renting books.
2. Save space. Space is limited especially for students who rents apartments with friends and frequently has to move around. Renting books can free up spaces.
3. More choices of books. Books aren’t abundant & up to date.

Survey among university students:
Our survey of 180 Chinese readers demonstrated the need for DuanMu:
-65.6% strongly prefer to read hard copy
-42.4% believe Chinese books are irreplaceable
-35.8% read 0-3 books, but 82.8% reveal they want to read more

Potential Competitors:
To date, DuanMu has no competition in the LA market, but we have predicted two types of potential competitors. First is the sale of piratical E-books through platforms like Taobao and Amazon. Normally, these E-books are received faster than paper versions. However, DuanMu still holds a pricing advantage ($0.99 per rental) compared to these Chinese E-books sold online (average $1.50 per book). Moreover, piratical E-books online are usually bestselling books but may miss out new published books. Again, most people reveal their preference to read on the paper version. Our second concern is the abundant storage of Chinese books in libraries. However, books reserved in libraries tend to be historical & classical, whereas at DuanMu, books are more up to date, and can be adjusted anytime to fit customers’ preferences.

Rent & Return Process:
For renting, with DuanMu’s web portal, student choose the book to rent, select pick-up time and campus location, and pay $10 deposit and $0.99 rental fees through Venmo or cash. Done.
For return, select desire time and location to return within time.

Book Storage:
A small backyard warehouse will be rented to store books. The storage size will be around 500-1000 books shipped from China. For the current stage of the company, we will keep the storage size small to focus on the more populated, demanded books. Therefore, also keep the storage cost low.

Business Income Sources:
1. Rental fees.
2. Ads on web portal, social medias (Instalgram, fb, WeChat), and future application.

Project Plan Topic:
In order to provide convenience and ease the renting process for customers, DuanMu reading decides to create an application as an additional interface for customer to rent and pay.

The project will follow the project management life cycle, and it is usually broken down into four phases: initiation, planning, execution, and closure.

Expected functions of the app:
1. Readers can sign in and browse books to rent from the app portal. Select pick up time and location.
2. Complete payment
3. Summit any feedbacks to support team.

The application interface will look like the web portal where readers can choose books they are interested.

Each book page will include book description, about the author, catalog.