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letter
A
business
plan
is
an
important
document
for
your
business.
The
business
plan
should
be
created
before
you
launch
your
new
business
venture,
and
you
should
review
every
few
months
to
make
sure
youre
covering
all
your
plans.
A
business
plan
is
required
when
you
go
to
banks
or
other
financial
institutions
in
an
attempt
to
receive
a
loan
for
your
business.
This
business
plan
is
written
for
a
bicycle
retail
store
in
an
attempt
to
receive
a
loan
from
Small
Business
Administration.
Beantown
Bikers
is
a
bicycle
retail
store
that
sells
all
kinds
of
bikes
and
also
accessories
and
apparels,
as
well
as
provides
repair
services.
Beantown
Bikers
Business
Plan
Huiying
Zhao
1 2 0 1 N e w b u r y S t . , B o s t o n , M A 0 2 1 2 0
Bicycles:
We
sell
new
bicycles
and
also
used
bikes.
The
mountain
bikes
are
our
primary
product,
and
road
bikes
are
secondary
product.
Beyond
that,
we
also
sell
youth
bikes.
Service
Repair
Service:
We
offer
full-service
for
all
of
our
bicycles.
First
year
of
warranty,
we
offer
our
services
for
free.
Beyond
one
year,
we
charge
for
maintenance
or
repair
services
depending
on
the
condition
of
bicycles.
the
crowded
neighborhood.
As
long
as
new
students
enrolled
in
university
each
year,
our
market
growth
is
stable.
4.0
Main
Competitors
competitor. Back Bay Bicycles is a retail store located in Back Bay area. They carry
different kinds of bicycles like us and also provide repair services. However, they already
have more than 5 years of experience of doing business in Boston and have a certain local
loyal customers.
4.1
Competitive
Edge
located
at
Newbury
Street,
which
is
one
of
most
crowded
commercial
area
in
Boston.
Besides,
schools
are
few
blocks
away
from
Newbury
Street
such
as
Northeastern
University
and
Berkeley
College
of
Music.
5.0
Sales
Strategy
The pricing of bicycles is very tight and almost not open for negotiation like
automobiles.
Apparels
and
accessories
are
generally
keystone
priced.
Some
small
items
cost
more
in
handling
and
sales
than
they
do
to
buy
from
supplier.
The
Beantown
Bikers
attracts
customers
by
providing
coupons
or
discounts.
5.1
Sales
Forecast
The following chart is our sales forecast in three years. The chart is made
based on historical data of existing stores and conclusions from industry researches.
100,000
90,000
80,000
70,000
60,000
50,000
Year
3
40,000
30,000
Year
2
20,000
Year
1
10,000
-
Jan
Feb
Mar
Apr
May
Jun
The owner of Beantown Bikers, Huiying Zhao, will also manage the business.
Rotating staff of 6-8 salespeople: 2 needed on regular days, 3-4 for weekends.
1-2
bike
technicians
on
any
given
day
depending
on
seasonality
and
volume
of
repairs.
It
will
be
necessary
that
staff
keep
close
contact
and
maintain
good
communication
with
the
manager.
The
manager
will
need
to
be
close
in
tune
with
all
operations
of
the
business,
and
decisions
made
will
need
to
go
through
them.
The financial plan is developed based on previous years data of the existing
stores.
We
did
a
lot
of
research
on
bicycle
market
in
Boston
to
make
this
financial
plan
be
more
accurate.
The
seller,
buyer,
and
the
accountant
worked
together
on
the
plan
to
balance
optimism
with
reality.
We
require
total
funding
of
$200,000
including
start-up
expenses
and
assets.
7.1
Operational
Expenses
investing
some
of
her
own
money,
partially
a
home
equity
in
the
company.
This
plan
calls
for
these
loans
to
be
repaid
in
the
first
year.
Start-Up
&
One-time
Expenses
Legal
$6,000
Stationery
etc.
$250
Promotional
Materials
$300
Consultants
$800
Insurance
$350
Lease
Deposit
$10,000
Total
Start-up
Expenses
$17,700
The Break-even Analysis gives us a rough estimate on how much product and
service
we
need
to
sell
each
month
to
cover
all
our
expenses.
The
following
chart
is
drawn
from
data
in
the
Sales
Forecast
tables.