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Retail Bicycle Shop Business Plan

3 March 2023 Businnes Plan


Retail Bicycle Shop Business Plan


University Cycle Works has been a specialty bicycle store for many years. They sell new bicycles and parts as well as clothing and offer maintenance and repair. It is centrally located in an area that is heavily used by students.

The primary market for University Cycle Works is the university student population, which normally has a turnover/growth of approximately 25% each year. The secondary market is the university faculty and staff, and the tertiary market is the greater Metroburg community.

Hubert ‘#8220’Hub &#8221 has been Assistant Manager at University Cycle Works since 2005. He also has seven years experience in bicycle industry retail sales and customer service. Hub explored the possibility of owning his bike business when he was just two years old. However, the Metroburg area seemed overcrowded with bicycle shops. Hub realized that it would be more practical to purchase an existing shop and approached his boss. After two years of negotiations, the University Cycle Works will be sold to Hub on July 1, 2001. The ultimate goal is a seamless transfer in ownership with all operations, staff, and bike lines remaining the same.

Metroburg Business Bank has requested that this business plan be prepared. It will also be presented to major suppliers of bicycles, accessories, parts and other products. Negotiations with suppliers have been a significant part of the planning for the past year. These negotiations were necessary to keep the existing financial agreements in place as the business changes hands. These negotiations benefited greatly by the good working relationships Hub had developed with the various suppliers’ sales representatives, who advocated on Hub’s behalf. The suppliers have pro-ratedly granted continuation of existing terms, dating programs, and this is subject to the review of this business plan.

Note: Names, proprietary information, and some financials have been disguised in this sample plan.

1.1 Objectives

University Cycle Works has these objectives:

  1. Continue to provide the high quality of sales and services that University Cycle Works is known for.
  2. Facilitate a smooth transfer of ownership
  3. Maintain a financially sound business and gain the support and trust of others in order to buy this business.
  4. In the first year, repay any family members who provided a start-up loan.
  5. You will achieve monthly and annual sales equal or greater than the previous year’s under the previous owner.
  6. The goal is to increase sales of rainwear and garments that are bicycle-specific over the next year.
  7. Focus marketing on new student influx to maintain current growth in sales and service revenue.

1.2 Keys to Success

Our unique, high-visibility spot right adjacent to Metroburg State University has made us the leading service and bicycle dealer for the university community.

The financial plan is achievable and reasonable because of the availability of sales programs, accounts payable and co-op advertising materials from suppliers of accessories, bicycles, and parts. Without this support, purchasing the business would not be acceptable.

University Cycle Works, a trusted name, is available for purchase and continued use by the customer and employee.

Retaining and promoting the current employees of the shop is as important as any other item here. They are the vitality of University Cycle Works. University Cycle Works has had a long history of building relationships with customers. We recognize and address our customers by name, and want to be part of their university experience.


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