Strategic Analysis with current research!
Everyone who resides in our target locations Our Competitive Advantage A close study of the bicycle dealership and repair shops industry reveals that the market has become much more intensely competitive over the last decade.
As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry. We are aware of the stiffer competition and we are well prepared to compete favorably with other leading bicycle dealership and repair shops in Little Rock — Arkansas and throughout the United States and Canada.
Our bicycle dealership and repair shop is located in a corner piece property on a busy road directly opposite one of the largest residential estates in Little Rock — Arkansas. We have enough parking spaces that can accommodate well over 20 cars per time. One thing is certain; we will ensure that we have a wide range of new bicycles and bicycle spare parts and accessories from leading manufacturers available in our shop at all times.
It will be difficult for customers to visit our shop and not see the type and size of bicycle they are looking for.
Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us. Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category startups bicycle dealership and repair shops in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time. We are in the bicycle dealership and repair shops industry to maximize profits and we are going to go all the way out to ensure that we achieve or business goals and objectives.
In essence, our source of income will be the retailing of a wide range of new bicycles and bicycle spare parts and accessories at affordable prices. Sales Forecast One thing is certain when it comes to bicycle dealership and repair shop business, if your shop is well stocked with various types of bicycles, bicycle spare parts and accessories from different brands and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.
We have been able to critically examine the Bicycle Dealership and Repair Shops Industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.
The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Little Rock — Arkansas.
Please note that the above projection might be lower and at the same time it might be higher.
We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time. We hired experts who have good understanding of the bicycle dealership and repair shop industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Little Rock — Arkansas.
In other to continue to be in business and grow, we must continue to sell the bicycles, bicycle spare parts and accessories that are available in our store which is why we will go all out to empower or sales and marketing team to deliver.
We are going to explore all available means to promote our bicycle dealership and repair shop. As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand.
Our Pricing Strategy Aside from quality, pricing is one of the key factors that gives leverage to retailing business such as bicycle dealership and repair shops, it is normal for consumers to go to places bicycle dealership shop outlets where they can get bicycles, bicycle spare parts and accessories at cheaper price.
Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for purchase of bicycles, bicycle spare parts and accessories and for repair and maintenance services.
Start — Up Expenditure Budget In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a bicycle dealership and repair shop business; it might differ in other countries due to the value of their money.
Legal expenses for obtaining licenses and permits as well as the accounting services software, P. The cost of launching a website: Please note that this amount includes the salaries of all the staff for the first month of operation.
They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start — up capital to 3 major sources.
These are the areas we intend generating our start — up capital; Generate part of the start — up capital from personal savings Source for soft loans from family members and friends Apply for loan from my Bank N.
All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount. Bicycle Shop Business Plan — Sustainability and Expansion Strategy The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure.
We know that one of the ways of gaining approval and winning customers over is to retail our wide range of quality bicycles, bicycle spare parts and accessories a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.First established in , the Manasquan Bike Shop is now a third and fourth-generation family-run business.
We proudly offer friendly, personal service, and our careful pricing will keep you coming back for all of your family's cycling needs. Visit our Bike Shop here in Manchester to see our range of Mountain Bikes, Road Bikes, Folding Bikes and Cycle Accessories.
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