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Watch This Video Before Starting Your Bike shop Business Plan PDF!

Checklist for Starting a Bike shop Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a Bike shop business. This will allow you to predict problems before they happeen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

For more insightful videos visit our Small Business and Management Skills YouTube Chanel.

Here’s Your Free Bike shop Business Plan DOC

This is a high quality, full blown business plan template complete with detailed instructions and all related spreadsheets. You can download it to your PC and easily prepare a professional business plan for your Bike shop business.
Click Here! To get your free business plan template

Free Book for You: How to Start a Business from Scratch (PDF)

A Step by Step Guide to Starting a Small Business
This is a practical manual in a PDF format, that will walk you step by step through all the essential phases of starting your Bike shop business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to Apply.

Copy the following link to your browser and save the file to your PC:

https://www.bizmove.com/free-pdf-download/how-to-start-a-business.pdf

Sample Business Plan - Risk/Opportunity

Business Risks

This is also a critically important part of the plan. Knowing your risks and having a strategy is a must for attracting an investor. There are several kinds of risk, especially among entrepreneurial, growing businesses. Be sure to address the following, and provide your strategy for dealing with them;

Some of the major risks facing our development include [limited operating history; limited resources; market uncertainties; production uncertainties; limited management experience, dependence on key management].

Moneyhunter's Mentors know a thing or two about taking risks. See http://www.moneyhunter.com/htm/mentor/mentors.htm.

Opportunities

This is also a critically important part of the plan. Use it to provide excitement and promise.

Although our business today has its share of risk, we feel we can overcome these risks because of [x]. We will address [market risk] by [doing a comprehensive study, partnering with a larger company who knows the market]. We feel we can address [pricing risk, product risk, management risk] by focusing on [x].

  If we are able to overcome these risks, our company has the opportunity to [dominate a niche in the marketplace, become a major force in the industry]. We feel our brand could become know as the [place entrepreneurs look for financing help, the place people look for good tasting, low fat cheese]. We think we can achieve this goal in the next [x] years.

Specifically, our lead product [x], has the chance to [change the industry, affect many lives, improve performance in the [x] field]. This would also enable us to tap markets we have not yet begun to approach, such as [international sales, ethnic market, genX].

Management Team

It םs clichי but true:  investing is a people business. Tell us not only about your managers, but how they work together as a team.

Our team has the following members to achieve our plan. [x] men and women who have a combined [x] years of  experience; [y] years in marketing, [y] years in product development, and [y] years in [other disciplines].

Frankly, if you have more than a few people filling these positions, you're lucky. Tell us who you have, how much they have aged, and how much of the company they own.

Officers and Key Employees / Age / Stock

[A], President

[B], Vice President of Marketing

[C], Vice President of Sales

[D], Vice President of Finance

[E], Vice President of R & D

[F], Vice President of Operations

[G], Controller

[H], Corporate Attorney

Ownership

The company has authorized [x] shares of common stock, of which [100] are issued and outstanding. The following persons or organizations are significant owners of the company;

Name / # Shares Held / % Ownership

[A. B. Founder] / 52 / [52%]

[C. R. Inventor] / 22 / [22%]

Management Team / 10 / [10%]

[Seed Ventures] / 10 / [10%]

Professional Support

We have strung together a team of professionals, including;

[Corporate Attorney]

[Accounting Firm]

[Other Consultants]

Board of [Advisors, Directors]

We have also secured the assistance and support of the following business and industry experts to help in the decision making, strategizing, and opportunity pouncing process;

Highlight your board members, detailing where and why they add strategic importance, what experience they have and what contacts they can contribute.

Capital Requirements

Needless to say, this is important -- state what your capital requirements are.

Money Hunter can help you find investors to back you. Go to Rolodex at http://www.moneyhunter.com/cfm/grolodex2.htm

We seek [$] of additional [equity, sub-debt, or senior financing] to fund our growth for the next [two years, year, month]. At that time, we will need an additional [$x] to reach a positive cash flow position.

The initial stage of funding will be used to [complete development, purchase equipment, introduce and market our new/next product line, fund working capital, acquire a competitor]. Here is a breakdown of how the funds will be spent;

complete development - [$x]

purchase equipment - [$x]

market our new/next product line - [$x]

fund working capital - [$x] 

We can provide and exit for this [loan, investment] within [x] years by [a dividend of excess profits, recapitalizations, sale of company, or public offering].

Define how much time you will require to pay back the loan or provide a return to investors. And tell us how the repayment will be accomplished, and what strategy will be used to achieve that exit.

Conclusion

Be bold, amigo(a). This is the finale of the entire document.

Based on our projections, we feel an [investment in, loan to] our Company is a sound business investment. In order to proceed, we are requesting an [investment, loan] of $[x] by [date].

Financial Plan

Needless to say, this is important -- state what your capital requirements are.

Money Hunter can help you find investors to back you. Go to Rolodex at http://www.moneyhunter.com/cfm/grolodex2.htm

Assumptions

The attached projections assume the following;

Income statements

We recommend that financial statements be monthly for the first year or two, then quarterly thereafter. Incorporate year to date figures if they exist.

Sales will increase with the introduction of the [new line, improved line]. We plan to introduce these products roughly on the following schedule: [detail here]. And we expect to be able to sell at the rate of [x] units per month within [x] months of introduction.

Cost of good sold will [decrease as a percentage] as we are able to buy more efficiently in the marketplace and use our new equipment to produce more units at lower cost.

Gross profit will remain static as [new introductions will be at higher margins, while we expect margins of older lines to erode].

Selling and administration expense will increase in absolute dollars, but decrease as a percentage because while expense is increasing, [name largest items here, or items that will change most significantly] our sales will be growing faster.

Research and Development, which will appear as a high percentage of sales early, will be reduced as a percentage over time.

Our head count will increase after funding to [x], which will include a [VP-Sales, paid on commission; VP R&D, $[x], VP Finance, $[x]; VP Operations, $[x].

Keep in mind that projections do not stand on their own. The rationale of how you prepared the numbers- and how sober you were when you did them- is important to investors. Expect to tie in the discussions you made about market size, time to market, market acceptance, and competitive pressures to tie into these numbers.

Discuss any large numbers or numbers that change significantly from period to period. Include discussion of sales growth rationale, expense growth, etc.

Balance Sheet Summary

Comment on any large or unusual items, such as other current assets, other accounts payable, or accrued liabilities.

Cash Flow and Break Even Analysis

These are critical statements, even more so than the Balance Sheets and Income Statements. Cash, and how much you have at the end of the day, is everything to investors.

We have assumed that our suppliers will be willing to grant us terms of [x] until we reach monthly purchases of [x]. At that time, we have assumed that our terms will be stretched to [x] days.

We have also assumed that we can collect our billings within [x] days because of [special programs with large customers, factoring arrangement, credit card and COD sales].

We have assumed that the first part of our [loan, investment] will be made in [month], and the balance in [month].

We can reach break even by the [x] month. Sales are expected to be at the [$x] level by that date.

 

 

Getting the Cash Required to Starting a New Small Business. Now that You have computed your initial financing requirements, where
are you going to get the money? The first source is your personal savings. Then relatives, friends, or other individuals may be
found who are willing to"enterprise" their savings in your company. Before obtaining too big a share of cash from outside sources,
remember you ought to have private control of sufficient to guarantee yourself ownership.

After you can show that you have closely worked out your fiscal Requirements and can demonstrate expertise and ethics, a lending
institution might be willing to finance part of your operating needs. This may be done on a short term basis of from 60 days to as
much as one year. Any institution which has money to give is primarily concerned with safety. The security might be a business
advantage, but when you are just starting the best safety is usually your home or some other personal asset.

The second thing that the lender will want to see is some sort of Business plan. If you complete a business plan - which includes
a cash flow forecast - the lender will observe that you have completed some serious and realistic thinking about your company and
be more likely to consider your request.

Be familiar with your banker. In selecting a banker consider Progressiveness, mindset toward your company, credit services
provided, and also the size and direction policies of the bank. Is the bank innovative? The physical appearance of the lender may
provide you some indication. When the employees are reasonably young, considering your problems and active in civic affairs the
lender is very likely to be innovative. The character of the bank's advertising may also be a clue for its progressiveness.

To succeed the banker should be interested in helping you to Become a better manager, and build a lasting relationship which will
mean rewarding business for you and the lender over time.

Will the bank offer you the type of credit you need? By Way of Example, If seasonal accumulations of stock become an issue will
the bank make a loan against public or field warehouse receipts? If your funding is tied up in accounts receivable throughout your
heavy selling year, will the lender take these receivables as collateral for a loan? Will the bank consider a term loan?

Finally, know the dimensions and management policies of the lender. Will Your maximum requirements fall nicely within the
bank's"legal limit"? If you plan to do some export company, does it have a currency department? In the event that you or your
dealers sell on installation conditions does the lender have facilities for handling installment paper? How profoundly is the
lender concerned with the rise and prosperity of the local community?

When you handle your banker, then sell yourself. Whether or not you Need a bank loan, make it a practice to visit your banker at
least once every year. Openly discuss your plans and difficulties. It is the bank's business to not betray a confidence. If you
need financial assistance carefully organize, in written form, complete information that will present a thorough understanding of
your whole proposition. Many business-people or prospective small business operators destroy their chances of getting financial
aid by failing to present their proposal correctly.

Trade creditor or equipment manufacturer, Firms from which you Buy equipment or product may also provide capital for you in the
form of extended credit. Manufacturers of store fixtures, cash registers, and industrial machines frequently have funding plans
under which you might purchase on an installation basis and pay from future income. You don't need to cover the merchandise at
once. If products are for resale, then no safety aside from repossession rights of the unsold merchandise is involved. However,
too extended a use of charge can prove expensive. Usually money discounts are offered when a bill is paid within 10, 30, or 60
days. For instance, a duration of sale offered because"2-10; net 30 days" means that a cash discount of 2 percent will be awarded
if the invoice is paid within 10 days. If not paid in 10 days, the whole amount is due in 30 days. If you do not take advantage of
the cash discount, you're paying 2% to use money for 20 days, or 36 percent each year. That can be high interest. Avoid it.

One of the main causes of failures among businesses is Inadequate financing. Should you enter business, remember it is your
responsibility to provide, or obtain from other people, sufficient money to supply a firm foundation for your enterprise.

Sharing Ownership With Others. Now that you have decided what Company to begin and about how much capital will be required, you
may find it necessary to connect with a couple of partners to establish the enterprise.

If you lack specific technical or management skills that are of Major importance to your chosen company a partner with these
abilities may prove a satisfactory way to pay the deficiency. If you are very proficient in your particular area but lack
management training and abilities, you might search for a partner with a background in management. If you might want more startup
money, sharing the ownership of the company is one way to obtain it. Fantastic care ought to be taken in deciding upon a partner.
Personality and temperament, as well as capability to render financial or technical assistance, influence the achievement of a
pa333ship.

A partnership may be a mixed blessing. A partner who places in time Or cash has got a right to expect a share in conducting the
business.

In a partnership the liability for the debts of the firm is Unlimited, as it is in one proprietorship. Therefore, the owners are
Personally accountable for the firm's debts, even in excess of the sum that they Have invested in the organization. In a business
the accountability of the owner is limited To the amount they pay for their shares of stock. A partnership, such as a single
proprietorship, lacks continuity. Thus, the Company terminates upon the Death of the proprietor or a partner, or on the withdrawal
of a spouse.


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