Bicycle Retail Store
 
Description of Business Plan
Bike Shop, Inc. (Bike Shop Business Plan) will provide "family oriented" sales of quality bicycles, technical and mechanical services, and related after-market accessories such as helmets, clothing, and tools. In order to broaden the sales base, the company will also offer indoor fitness equipment, exercise bikes, and all associated accessories. This will allow the company to appeal more effectively to total fitness lifestyles and will therefore increase both sales and profits.
Company Introduction
Bike Shop, Inc. has an expected Grand Opening date of January 10, 2000. Bike Shop, Inc. will be located at 1st Street and Main and will provide a convenient location for customers in the Metropolitan area. Bike Shop, Inc. will focus on quality and personal attention that stresses personal service. The funding for this venture will be provided by the owner through the sale of personal stocks and bonds.
Brief Description of the Marketing Program
Cycling participation is growing. Recreational and commuter riders alike are increasing the point where their numbers are over 100 million cyclists in the U.S. today. The largest share of recreational riders live in the Midwest, 31 percent compared to 24 percent of Americans across the U.S. This number is so high comparatively speaking because of the huge following of RAGBRAI (Registers Annual Great Bike Ride Across Iowa) and other recreational events scheduled during the summer months. The bicycle is not only the least expensive realistic transportation available, but it also allows one to cover great distances in a short period of time. This tied with health, vitality, and fun has a positive affect on people. In addition, it contributes to the betterment of the environment and can lower traffic congestion. It is the aim of Bike Shop, Inc. to promote bicycling, not only as a sport, but also as a transportation alternative. These tactics, coupled with the sponsorship of a variety of clinics will increase shop visits and provide more opportunities for after market sales. These clinics will include a variety of areas, including safety clinics and bicycle repair clinics, which will offer free help with minor adjustments and repairs.
Financial and Business Goals
For the first year of business, Bike Shop, Inc. goal is to sell at least $180,000 in bicycles and related accessories. Our second and third year goals will be to increase sales by at least 10 percent per year. Since most bicycle manufacturers place a price range in which their products will be sold, Bike Shop, Inc. will attempt to obtain the industry average of 35 percent gross profit on all units sold. It will also be the intent of Bike Shop, Inc. to achieve the industry average of 41 percent gross profit on all accessories sold.
 
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