RETAIL BICYCLE REPAIR AND SALES SHOP BUSINESS PLAN TEMPLATE
A bicycle shop business is one of the many businesses that can be set up and managed by people that do not have any special training or business skill. 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, great customer service and a business plan sample.
This article contains a bicycle shop business plan sample. With this business plan sample, you can effortlessly come up with the perfect business plan that is 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 and is 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 that we leased is just the ideal facility for the type of bicycle store that we have in mind.
Our Products and Services
Shiny Metals Bicycle Shop is in this industry to offer a very broad range of service to residents of Miami, Florida as well as make maximum profit. Therefore, we will do everything that the law permits to make maximum profits at the same time offer 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 provision of bicycle spare parts.
At Shiny Metals Bicycle Store, our vision is to become a household name in the bicycle store industry in Miami, Florida, in other parts of the United States and also 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 store in our city as well as in other cities in the United States and Canada.
Finally, we intend to sell our franchise after being in operation for 5 years.
There are lots of average bicycle store businesses in the United States. Our aim of 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 very big plans for our bicycle store and we know that these plans will only become reality if we put the right measures in place. As a result of this, we will only hire individuals that can work at the highest level in this industry.
We will also make sure that our workers work in a very conducive environment and are very well paid.
In very recent times, the benefits of cycling to the health, environment, and economy have become known by a lot of 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 a growth in this industry, thereby making it a very lucrative one.
Also, as a result of innovations in technology, bicycle shops with very strong 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 of these, there is a very high level of competition. Now, as a new business that is looking to break into the market in this industry, we have carefully come up with strategies that will help us effectively market our products and services to our prospective customers.
Some of our marketing strategies are;
- We will ensure that we have a very strong 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 cheaper prices to our first set of customers as well as our regular customer.
We have carried out our research, and we have 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 is not one that requires so much capital. Therefore, we will require $30,000 to set up our bicycle store business. We already 80% of the amount that we need. The other amount will be gotten 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 that is 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.