RETAIL BICYCLE REPAIR AND SALES SHOP BUSINESS PLAN GUIDE
A bicycle shop business is one of the many businesses that can be set up and managed by people without special training or business skills. To set up a bicycle shop business, there are certain things that you should possess.
Some of them are a bicycle repair toolbox, a great location, access to a cheap supply of bicycle parts, excellent customer service, and a sample business plan.
This article contains a bicycle shop business plan sample. With this business plan sample, you can effortlessly develop the perfect business plan needed to set up a bicycle shop business.
Here is a sample business plan for starting a bicycle retail shop.
Business Name: Shiny Metals Bicycle Shop Business
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
Shiny Metals Bicycle Shop Business will be located in Miami, Florida. It is a standard bicycle store owned by Tim Jerry, a retired professional cyclist.
For a start, we have gotten a near-perfect facility in a choice part of town.
The facility we leased is just the ideal facility for the type of bicycle store we have in mind.
Our Products and Services
Shiny Metals Bicycle Shop is in this industry to offer an extensive range of services to Miami, Florida, residents and make maximum profit.
Therefore, we will do everything that the law permits to make maximum profits while offering our prospective clients all that they require from a bicycle store.
Some of the products and services that we will make available are:
- The provision of bicycle repair and rental services
- The provision of bicycle maintenance services
- The sale of brand new as well as fairly used quality bicycles
- The condition of bicycle spare parts.
See: Electric Bike Business Plan
At Shiny Metals Bicycle Store, our vision is to become a household name in the bicycle store industry in Miami, Florida, other parts of the United States, and major cities in Canada.
At Shiny Metals Bicycle Store, our mission is to set up a standard bicycle store business that will meet all the needs of bicycle lovers in Miami, Florida. We are also interested in competing favorably with more established bicycle stores in our city and in other cities in the United States and Canada.
Finally, we intend to sell our franchise after operating for five years.
There are lots of average bicycle store businesses in the United States.
Our aim in setting up a bicycle store business is to make available a standard bicycle store that offers services that are obtainable in top-notch bicycle stores in other parts of the world.
We have huge plans for our bicycle store, and we know that these plans will only become a reality if we put the proper measures in place. As a result, we will only hire individuals who can work at the highest level in this industry.
We will also ensure that our workers work in a very conducive environment and are well paid.
Recently, the benefits of cycling to the health, environment, and economy have become known by many people.
The awareness of the many benefits that are associated with cycling has brought about a steady rise in the level of patronage of bicycles. This has brought about growth in this industry, making it very lucrative.
Also, due to technological innovations, bicycle shops with a robust online presence have made more sales than they did in the past.
Sales and Marketing Strategies
The bicycle store industry is very lucrative and easy to set up. As a result, there is a very high level of competition. NowAsnew business looking to break into the market in this industry, we have carefully developed strategies to market our products and services to our prospective customers effectively.
Some of our marketing strategies are;
- We will ensure that we have a robust online presence
- We will ensure that we create awareness about the existence of our business by distributing fliers in public places.
- We will also sell at lower prices to our first set of customers as well as our regular customers.
We have conducted our research and come up with the best group of people to offer our services to. Those that fall into this category are
- Nursing Mothers
Source of Startup Capital
This business does not require so much capital. Therefore, we will require $30,000 to set up our bicycle store business. We already have 80% of the amount that we need. The other amount will be from family, friends, and the bank.
We will be working with some of the best marketers in the city. Also, our facility is located in a part of town close to one of the most densely populated estates. This, we believe, will help us enjoy great patronage.
This is a business plan sample for a bicycle shop business. This business is owned by a retired professional cyclist and will be located in Miami, Florida.