Bicycle shop business plan

Bicycle shop business sity cycle works is an established bicycle specialty store, offering retail sales of new bicycles, parts and accessories, clothing, and maintenance and repair service. The secondary market is the university faculty and staff, and the tertiary market is the greater metroburg "hub" freewheeler has been the assistant manager of university cycle works for five years, with an additional seven years of bicycle industry retail sales and service experience. Hub first began investigating the ownership of a bike business two years ago, however, the local metroburg market seemed saturated with shops. Realizing that a more practical option would  be to buy an existing shop, hub approached his current boss. This business plan is being prepared for presentation to metroburg business bank, and to the store's major suppliers of new bicycles, accessories, and parts. A substantial part of the past year's planning has been negotiations with these suppliers to maintain the current financial agreements as the business changed hands. The suppliers have provisionally granted continuation of existing terms and dating programs, pending review of this business plan. Note: names, proprietary information, and some financials have been disguised in this sample recommend using liveplan as the easiest way to create graphs for your own business your own business objectives for university cycle works are:continue to provide the high quality of sales and services that university cycle works is known a seamless transfer of in a financially healthy business and validate the trust and advocacy of other people in support of this business the start-up loan provided by family members within the first e monthly and yearly sales equal to or better than the previous year under the former to improve sales of bicycle specific garments and rainwear over the marketing on new student influx to maintain current growth in sales and service premier, high visibility location immediately adjacent to the state university in metroburg has been critical to our success as the bicycle sales and service purveyor of choice to the university continuance of established accounts payable, sales programs, and co-op advertising resources by suppliers of bicycles, accessories, and parts makes the financial plan reasonable and attainable. Without this support, the purchase of the business would be unacceptably and continuing to use the recognized, well respected name university cycle works provides continuity for the customers, the owner, and the ing and promoting the current employees of the shop is as important as any other item here.

Bicycle business plan

We recognize and address our customers by name, and want to be part of their university your own business plan »your business plan can look as polished and professional as this sample plan. Just wrote my first business plan in 24 hours using liveplan and it's beautiful and complete. With 500 complete sample plans, easy financials, and access anywhere, liveplan turns your great idea into a great plan for more about research reports for miscellaneous retail d business ng e-commerce site business plancosmetics manufacturing business planathletic shoe store franchise business retail and online store plansmore sporting goods 't bother with copy & can download this complete sample plan as a text document for the #1 business planning software risk-free for 60 contract, no risk. Built for entrepreneurs like shipaboutprogramsresearcheducation & eventsnewsresourceson-line following outline for business planning has been provided by bicycle industry veteran ed benjamin, who owned and operated successful stores in florida for many years. It is targeted for people who may be looking at buying or starting a bicycle retail business, but can also be very useful to existing bicycle ons to consider before buying or starting a bicycle store…. Answering these, you will create a list of concerns, information and goals that you can use to start your business plan. What is unique about you or your situation that will enable you to be successful at this business? Check the yellow pages, add to this information clippings of newspaper ads and notes about any advertising the other bike shops are doing. Have you talked to merchants in similar businesses, in the local community, about their business experiences?

Have you made a financial plan that defines the capital you will need, projects your sales and projects your profits? What is happening with the increase or decrease in supp1iers to the bike business? Describe your objectives in starting this business, and how you will know if you reach them. Review all of the above, and write an executive are a lot of people, including myself, who would tell you that the bike business has been good to them. A well run bike shop can make money, and while no one ever got rich, a lot of dealers have been very , this is a flat out warning. Going into business is dangerous to your lifestyle, your net worth, your relationships with family and friends, and to your peace of i seem to overstate this, it is because i believe that i am doing you a favor by giving you simple honest advice that being an independent bicycle dealer is not for everyone. And it may not be for entering into a business, you should contemplate the following:You are probably in a pretty good situation right now. By starting a business, you may alter the fabric of your life so much that you will lose all the friends you have, and be taken over by the interests of your business to such a degree that you (and others) will find your life monotonous or stressful to a unpleasant degree. You may make money, but you may also lose everything you have, and wind up bankrupt or with crushing do not have to start a business, it is a choice.

If you choose not to start a business, that may be the better of the two must believe this to the point where if the plan does not shape out to meet your goals, you will drop the business idea, and smile while you do who find problems in the planning stages and go ahead anyway are usually doomed to failure. By telling yourself it is ok to not start the business, you make your chances of a successful business much more upon a tune, a friend came to me and said, "ed! When asked what was the matter, he replied: "i bought this bike shop, and now i have to start work long before starting time, and i have to stay long after quitting time, and i have to work weekends, and now my wife has to help me! We sell new bicycles, predominantly in the mountain bike style, retro-cruiser is a close second, and sport/touring/racing road bikes a distant third. Parts generally refers to pieces or materials necessary to the basic functioning of the bicycle. 1 competitive almost any retail industry a specialty shop will be slightly more expensive than a mass retailer, due to the higher prices charged by suppliers. The prices we charge for bicycles, parts, and accessories is higher than the prices charged by a k-mart, gi joe's, target, or by mail-order. People do not go into the bicycle business because they want to get rich quickly. That kind of passion and committment comes across to customers when they find a sales person who can fit them to a bicycle so they feel comfortable and want to ride it.

A mega retail can sell a bicycle, but it takes a trained service technician to keep it in fine running order. We base our shop time fees on an industry standard, which we then adjust for our target market. This shop rate is comparable to other specialty bicycle shops in location is a competitive advantage for us. Litespeed titanium--serious top-of-the-line bicycles of unique materials and the very best components for road racers, tourists, and mountain bikers who will spend whatever they need to get the performance enhancing machine they porco (road hog)--custom sizes and framesets, fillet brazed by a local frame builder, for cyclists looking for the perfect fit and a long-term for the repair and maintenance of bicycles are available from a variety of suppliers. Four that we regularly order from are listed y bicycle productstrek bicycle corporationunited bicycle partsunited bicycle tools--a supplier of specialty tools for the bicycle industry. They sell shop grade tools, and consumer grade tools for retail sales by bike ories are a huge part of the retail sales in the bike industry. Three of the largest suppliers are listed sportsspecialized bicycle componentstrek bicycle corporationbicycling clothing can be either technology-oriented or simple. We also regularly purchase small lots of other brands to test their popularity in our design pearl izumi sierra designs trek bicycle corporation. This means that the bike shop must maintain replacement parts to repair old groups, stock parts for early replacements of new models, and have an inventory of high priced gruppos for the equipment-focused bike nobs who want to upgrade their bikes with the newest and greatest.

Additionally, the shop must regularly order manuals and specialty tools to service the new bikes and ing the trends in technology and futuristic products is as much fun as it is work for hub and his staff. They work on bicycles because they love your own business plan »your business plan can look as polished and professional as this sample plan. The financial sales forecasting tool is very intuitive and makes writing a business plan more fun. Built for entrepreneurs like business plan pro to edit this sample plan and make it your own. Bicycles are an obvious and popular transportation location, in the first block off campus in a commercial area featuring the university bookstore, a private bookstore, bank, cafes, coffee shops and popular watering holes is ideal. For the student customer, on foot, in a hurry, university cycle works is the immediate solution to their that first parking ticket, we are the first bike shop the new pedestrian sees. This is an advantage over a start-up bicycle shop, but, is more a leveling of the bike path when compared to other established shop in metroburg. Traditionally a start-up store will be placed on a cash on delivery (cod) status by bicycle manufacturers and parts/accessories suppliers. The cod status stays in effect until the new shop demonstrates its ability to manage its orders and cash flow.

This also means the new shop must have more funding to be able to write checks on a moments notice, for large sity cycle works will be continuing an established system of dating programs, ordering, delivery, and invoicing/accounts payable, stabilizing our funding needs and monthly cash flow. We want the university population to see us as their bike shop, even our name says so, university cycle works. We want them to see us as part of their daily experience, and a shop they can depend on for quick repair and maintenance service. Of bicycles is very tight with a markup of between 30% and 40% depending upon the brand and model. Many people believe that bicycles are priced like automobiles and are open for negotiation, and make almost insulting offers. When new technology arrives in bicycles, and if the supply is limited, almost any price can be demanded. While this drives demand and brings people into the shop to get these items, the suggested manufacturer's retail price may limit markup on clothes, shoes, jackets, gloves can vary from keystone to triple keystone, depending upon product, manufacturer, country of origin, and customer perception of value. It has been and always will be a demanding job for us to adequately stock garments at the various price try to maintain a basic "hourly shop rate" at $45/hour. Examples:All parts used in repairs are priced at keystone, and added to the labor service several other bicycle shops in the city, there are some price constraints based on competition.

We believe that cyclists will regularly access our site for the valuable information we will provide, and this will reinforce their of awareness of university cycle works, and we will become their bike shop of advertising. Sales and current promotions will also be sity bike paths, parking areas and campus bike rules, provided by the university security urg city bike path /statutes synopsis of rules of the road for sity bike map and y maps and directions for both a road and a mountain bike sity security office-bicycle urg parks department-bicycle ment of motor vehicles/state laws about bicycles on the public al forest bike of land management  bike trails. Business picks up in august with the return of the students and staff, and flourishes in september. If we don't have the bike then, and make the sale immediately, many riders will decide that they really can get another season out of their old bike, and will spend their discretionary income on some other onally, we have some special buys available for june get some small monthly revenue from these sources:Sale of used bicycles taken in on classes taught at the university outdoor center, once a y service contract for repairs and parts with the university security 2002fy 2003fy bicycles$116,000$133,400$153,ories and parts$150,000$172,500$198,ng$68,000$78,200$89, and service$166,000$190,900$219,sity patrol service contract$1,200$1,380$1, sales$501,200$576,380$662, cost of salesfy 2002fy 2003fy bicycles$78,880$90,712$104,ories and parts$75,000$86,250$99,ng$23,800$27,370$31, and service$0$0$sity patrol service contract$0$0$al direct cost of sales$177,680$204,332$234, monthly click to by year click to enlarge. 1 company & on bikes is a retail bike shop located in the university district of pullman, washington. The company, operating from a 3,000 square foot building in prime location, is solely owned by a long time bicycle enthusiast, rick austin. Austin has many years of experience in the retail bicycle industry, as well as a business degree from washington state university, where the bike shop is located. In addition to bike sales, the shop offers services, accessories and parts, which are installed by certified mechanics. Biking hats and apparel are also shop is conveniently located in the heart of campus, which houses approximately 20,000 full-time students.

In the area, there are three competing bike shops; however, none are able to offer the popular brands that are exclusive to ride on bikes. 1 company & on bikes is a full service bicycle repair and retail shop located in pullman, washington. The shop, which serves the large university population, caters to many different segments including: cross-country, downhill, commuter and road enthusiasts. The company is solely owned by rick austin, a lifelong bicycle on bikes is a new company being launched by rick austin. As a teenager he worked for a bike shop after school and during the summer, where he eventually became a certified bike mechanic. After relocating to the pullman area to attend college for a business degree, rick realized the need for a bike shop in the area. Following the completion of a bachelor’s degree in business administration, rick decided to open ride on bikes. The 3,000 square foot shop has over 1,600 square feet of retail space and 800 square feet of service area. 2 features & shopping at ride on bikes, customers receive many features not found at competing stores.

For competitive riders, the shop also offers discounts on products and competition in pullman is minimal. In the nearby city of lewiston there are two other bike shops, which concentrate on mountain bikes. These factors will allow ride on bikes to overcome its the surrounding areas, indirect competition consists of mass retailers, such as wal-mart, k-mart and shopko. With only three other bike shops in this area, ride on bikes will be able to capture a large amount of the market share due to its unique location and exclusive distribution bicycle market is always evolving. In addition, with fuel prices increasing, more people have chosen bicycles for commuting to work and school. This has caused an increase in demand for bicycles and accessories, where markups are often 50% or greater. Service sales have also increased as more people are tuning up old bikes and regularly maintaining their new ths: location near campus center; gt, kona, specialized and diamondback exclusive distribution rights; certified mechanics; low lease sses: most of the target market returns home during the summer, making summer months less busy; new in the unities: lack of competition with certain brands will allow higher margins; group rides, events and races will attract new customers; 4 colleges in area provide large and ever-changing s: competing bike shops already have established customer bases; trends my shift away from bicycling if gas prices drop; weather (too hot, rainy or snowy) causes fewer people to ride. 0 strategy & on bikes will be the quad cities’ premier bicycle shop, offering a cycling solution for everyone from the mountain biking enthusiast to the daily commuter. The company will also advertise in the student newspapers and promote events through the activities planning board and area chambers of in the bicycle industry are very cyclical, varying with seasons and weather.

Particularly with ride on bikes, sales will be slower in the summer months due to the university, contrary to many other bike shops. The staff will be motivated by sales bonuses for each bicycle on bikes has secured an ongoing contract with the university’s security department to provide all new bikes and service to its officers. Rick is a lifelong bicycle enthusiast with many years of experience riding and working on bikes. He spent much of his teenage years working in a bike shop in his hometown of enumclaw, washington, where he gained many contacts and inside knowledge of the bike industry. He attended washington state university and received a bachelor of business administration focusing on with rick, ride on bikes will employ two full-time certified mechanics. The part-time staff will likely be university students who are looking to supplement their income by working at a fun company receives advice from various friends and business professionals. In addition, rick consults with some of his former business professors who taught him at washington order for ride on bikes to successfully open with the required inventory and staff, the company will need $200,000 in capital. The remaining cash will be used for working capital for wages, rent, utilities and operational costs for the first year of business. Gross margin on bicycle sales will average 30%, while parts, accessories and apparel will be sold at a 50% margin.

4 breakeven fixed monthly expenses equaling $25,000, and a combined average margin of 62%, the business will break even at approximately $40,000 per month in revenues. In the event that suppliers extend credit to the business, the balance sheet will reflect an increase in inventory and an equal adjustment to liabilities. 7 important sity enrollment remains the surrounding universities continue to cooperate with marketing initiatives and ts payable terms with suppliers are net prices remain biking industry continues to grow or remains d articlesmore from ia business apparel store business cturing business food restaurant business tourism business ainment business ia business plan. Common failures in sales and how to avoid r topicsbusiness planning390business startup tips286marketing tips258general247management ideas222marketing & advertising tips145human resources133business strategy & tactics131. Who has been in business for any length of time knows that keeping a good employee is much less expensive and time consuming than having to find, hire and train a new employee.