The remainder of the staff, which will be adequately trained in product knowledge and sales, will be responsible for ensuring customer satisfaction and achieving sales goals. The store will be open daily from 10am until 7pm, with a reduction in hours during non-school sessions. Ride On Bikes has secured an ongoing contract with the university’s security department to provide all new bikes and service to its officers.
Jack Williams® Bike Sharing Company, Inc. is a private business that is solely owned and financed by Mr. Jack Williams and his immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the startup capital to 3 major sources. User rent fees may range from the equivalent of US$0.50 to 30.00 per day, rent fees for 15- or 20-minute intervals can range from a few cents to 1.00. Many bike share systems offer subscriptions that make the first 30 to 45 minutes of use either free or very inexpensive. Ensure that all our staff members wear our branded shirts and all our bicycles, docking facilities are well branded with our company logo et al. Our marketing strategies will be directed towards achieving specific objectives that will support the strategic goals of the organization.
Because of the competitive nature of the bike sharing business, there is an increasing degree of related business activities, with big players dominating the market. A study published in 2015 in the journal Transportation concludes that bike sharing systems can be grouped into behaviorally similar categories based upon their size. Cluster analysis shows that larger systems display greater behavioral heterogeneity amongst their stations, and smaller systems generally have stations which all behave similarly in terms of their daily utilization patterns. Most large scale urban bike sharing programs make use of several bike check-out stations, and operate much like public transit systems, catering to tourists and visitors as well as local residents. Their central concept is to provide free or affordable access to bicycles for short-distance trips as an alternative to motorized public transport or private vehicles, thereby reducing congestion, noise, and air pollution.
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. Download our free marketing plan example to create a detailed plan for your business. Rick is a lifelong bicycle enthusiast with many years of experience riding and working on bikes. He spent much of his teenage years working in a bike shop in his hometown of Enumclaw, Washington, where he gained many contacts and inside knowledge of the bike industry. He attended Washington State University and received a Bachelor of Business Administration focusing on Entrepreneurship. He will oversee daily transactions, as well as inventory levels, marketing, bulk sales and other miscellaneous duties.
- This is how businesses build business credit so they can qualify for credit cards and other lines of credit.
- It should state the purpose of your plan with details such as who you are and the services you provide.
- Below is a sample bike sharing business plan template that can help you write your own with little or no difficulty.
- Ride On Bikes’ primary target market consists of students and faculty of Washington State University.
In order for Ride On Bikes to successfully open with the required inventory and staff, the company will need $200,000 in capital. Rick Austin has invested $25,000 of personal money into the company, plus many of the required tools and equipment. The remainder of the funding will come in the form of an SBA loan, originated from a local bank. The company receives advice from various friends and business professionals. These include a CPA for financial and accounting matters, as well as an attorney for any legal requirements, such as liability waiver forms for events.
And tell us how the repayment will be accomplished, and what strategy will be used to achieve that exit. Specifically, our lead product , has the chance to [change the industry, affect many lives, improve performance in the field]. This would also enable us to tap markets we have not yet begun to approach, such as . Also, our facility is located in a part of town that is close to one of the most densely populated estates. We will also sell at cheaper prices to our first set of customers as well as our regular customer. We will ensure that we create awareness about the existence of our business by distributing fliers in public places.
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Your company description will also need to include a summary of company growth with financial or market highlights presented. Although it’s written last, the executive summary first appears in order of arrangement for good reason. It’s a concise and optimistic overview of the plan designed to capture or hold the reader’s attention. Despite the fact that our shop is well located, we will still go ahead to intensify publicity for the business.
In order to grow the business, Concrete Carbon needs to begin selling to new customers. The annual growth rate for individual customers is 10% with 343,009 potential customers. While the growth rate of distributors is not that high the sheer volume that distributors will sell and buy relative to the individuals makes the potential market very exciting. In addition to city bikes, events and bike paths, the city also offers financial assistance to residents keen to buy a bike by covering 25% of the bicycle purchase. Caen, which has 103,830 inhabitants, has a developed urban network and self-service bicycles which were set up by the city council in 2018. There are a total of 220 bicycles spread across 22 docking stations in the city.
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The subcontractors were chosen in part on Josh’s networking contacts established with them prior to Concrete Carbon. Numerous bicycle facilities are located on the outskirts and in downtown Caen to allow free movement for cyclists. The bicycle network covers a total of 101 kilometers with 2,550 bicycle racks, as well as 125 dual bicycle lanes providing cyclists with a safer route.
Knowing who is your target audience is necessary for you to have the right product, the right marketing strategy, and additional services. The bare essentials of a bike rental business are a station to store and repair bikes and conduct business, a small fleet of bikes, and seasonal employees at or near minimum wage. You could hire one mechanic to service bikes at multiple locations, or assume the responsibility yourself if you’re so inclined. Therefore, expansion is relatively easy once you’ve figured out how to successfully run one location. Review all building codes and zoning requirements for your business’ location to ensure your bike rental shop will be in compliance and able to obtain a CO. There is more to starting a business than just registering it with the state.