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Writing a Business Plan
While it may be tempting to put off, creating a business plan is an essential part of starting your own business. Plans and proposals should be put in a clear format making it easy for potential investors to understand. Because every company has a different goal and product or service to offer, there are business plan templates readily available to help you get on the right track. Many of these templates can be adapted for any company. In general, a business plan writing guide will recommend that the following sections be incorporated into your plan.
Executive Summary
The executive summary is the first section that business plans open with, but is often the last section to actually be written as it’s the most difficult to write. The executive summary is a summary of the overall plan that highlights the key points and gives the reader an idea of what lies ahead in the document. It should include areas such as the business opportunity, target market, marketing and sales strategy, competition, the summary of the financial plan, staff members and a summary of how the plan will be implemented. This section needs to be extremely clear, concise and engaging as you don’t want the reader to push your hard work aside.
Company Description
The company description follows the executive summary and should cover all the details about the company itself. For example, if you are writing a business plan for an internet café, you would want to include the name of the company, where the café would be located, who the main team members involved are and why, how large the company is, who the target market for the internet cafe is, what type of business structure the café is, such as LLC, sole proprietorship, partnership, or corporation, what the internet café business mission and vision statements are, and what the business’s short-term objectives are.
Services and Products
This is the exciting part of the plan where you get to explain what new and improved services or products you are offering. On top of describing the product or service itself, include in the plan what is currently in the market in this area, what problems there are in this area and how your product is the solution. For example, in a business plan for a food truck, perhaps there are numerous other food trucks in the area, but they are all fast –food style and unhealthy so, you want to introduce fast food that serves only organic and fresh ingredients every day. This is where you can also list your price points and future products or services you anticipate.
Market Analysis
The market analysis section will take time to write and research as a lot of effort and research need to go into it. Here is where you have the opportunity to describe what trends are showing up, what the growth rate in this sector looks like, what the current size of this industry is and who your target audience is. A cleaning business plan, for example, may include how this sector has been growing by 10% every year due to an increase in large businesses being built in the city.
Organization and Management
Marketing and sales are the part of the business plan where you explain how you will attract and retain clients. How are you reaching your target customers and what incentives do you offer that will keep them coming back? For a dry cleaner business plan, perhaps if they refer customers, they will get 10% off their next visit. In addition, you may want to explain what needs to be done in order for the business to be profitable. This is a great way of showing that you are conscious about what clear steps need to be taken to make a business successful.
Financial Projections & Appendix
The financial business plan section can be a tricky one to write as it is based on projections. Usually what is included is the short-term projection, which is a year broken down by month and should include start-up permits, equipment, and licenses that are required. This is followed by a three-year projection broken down by year and many often write a five-year projection, but this does not need to be included in the business plan.
The appendix is the last section and contains all the supporting documents and/or required material. This often includes resumes of those involved in the company, letters of reference, product pictures and credit histories. Keep in mind that your business plan is always in development and should be adjusted regularly as your business grows and changes.
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Your Guide to Writing a Business Plan
If you’re starting a new business, then you need an effective plan. Not only does this enable you to plan your company, but it also gives potential clients an insight into how your business works. A business plan is also vital if you want to attract investors or secure a loan from the bank. Drafting a business plan is a complex process, but it doesn’t have to be. This guide will ensure you create a definite plan to impress investors and clients.
When creating your business plan, there are some essential elements you must include. The Executive Summary provides a description of your business, and what you hope to achieve. People usually write at least one page, but leave their Executive Summary until last.
You’ll also need to detail what your business offers and define your target audience. This makes it easier for people to see whether your company has a chance of succeeding. The opportunity section is also an excellent way for you to see what competitors offer and how you can create a USP to stand out from the competition.
Appealing to Investors
Every business that wants growth and prosperity must ensure they promote themselves to potential investors. Business plans aren’t just about what the business is, but who is part of it too. Detail your current team members and explain what they bring to the company. Investors want to know they’re making a wise investment.
Your current finances and financial forecast are also essential aspects of your business plan. Look at your products, how much you’re selling them for and what kind of profit margin you expect to gain. It’s also vital you detail your outgoings and look at how various economic situations could affect your finances.
Writing a Winning Executive Summary
There are problems in every market, and a successful business solves that problem. If you can show how you’ll be able to offer solutions in your business plan, you’ll appeal to investors. Choose your target audience based on research and ensure you show your research. There are many ways to conduct market research including defining SOMs, SAMs and TAMs.
TAM stands for Total Available Market and comprises everyone you want your product to reach. Your Segmented Addressable Market (SAM) is a specific portion of the market you’ll target. This is important because it shows you’re able to direct your product at the right people and not just everyone. Your SOM (Share of the Market) is what you feel you’ll gain with your product.
How to Determine Pricing
Pricing your product is one of the most challenging things you’ll have to do. There are many things to consider, such as how much it’s worth and making sure you don’t charge unrealistically. Many new businesses believe undercharging is the best way to go, but doing this can undermine your company’s authority and cause fewer people to be interested in investing.
Market-based pricing involves looking at your competitors and evaluating their prices. Which company has the most customers? How does their pricing match others? These are all vital aspects you should consider. Remember, customers expect quality and a fair price, so make sure you combine the two.
Future Goals
Investors and banks want to know that you’ve considered what the future will hold for your company. When you write your business plan, be sure to take into account how you see the company growing, what you’ll do to ensure it thrives and that you understand the potential risks. Banks and investors want to know that you can build a business and are aware of the obstacles you’ll have to overcome.
Starting your own business doesn’t have to be difficult. If you ensure you produce a robust business plan, it can be an exciting process. Your business is part of your future, so start by outlining your goals and look forward to seeing results.
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Motorcycle Shop Business Plan
Start your own motorcycle shop business plan
Recycled Riding Dreams
Company summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">.
Recycled Riding Dreams will offer quality used motorcycles and motorcycle parts to a growing market of motorcycling hobbyists. The shop will purchase used and damaged bikes as well as used motorcycle parts.
2.1 Company Ownership
Recycled Riding Dreams is owned by Brian Jefferson.
2.2 Start-up Summary
Brian Jefferson will invest $55,000 in Recycled Riding Dreams. Brian will also secure a $20,000 loan. The initial inventory for Recycled Riding Dreams will be $45,000. The focus of this inventory will be on engine and electrical parts. The source of these parts are motorcycle hobbyists who sell the parts in order to purchase upgrade parts for their own motorcycles.
The following table and chart show projected initial start-up costs for Recycled Riding Dreams.
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Motorcycle Store Business Plan
Apr 13, 2022
If you are planning to write the Motorcycle Store business plan on your own, then this sample Motorcycle Store business plan can be great for guidance. However, if you are looking for a professional business plan writer for a business loan , SBA loan or to find out the possibility of success for your new business then let’s talk!
Executive Summary
Overview : Recycled Riding Dreams will cater to a rising market of motorcycle enthusiasts by providing high-quality used motorcycles and motorcycle parts. Recycled Riding Dreams offers good value in a first bike that will not break the customer’s budget for the beginner. Quality second-hand components will save the skilled biker 50 percent to 75 percent on repairs and upgrades.
Bike riding has gained a completely new consumer base among baby boomer men aged 40 to 65 in the last ten years. Motorcycle sales for this age group were twice as high as for young males aged 18 to 25 last year. Motorcycle sales in Montclair surpassed $6 million in 2000, and sales are expected to increase by 15% this year.
Montclair has a population of 650,000 people with a median household income of $28,000. The city is home to seven motorcycle clubs and hosts an annual cycling event as part of its spring festival.
• Used Motorcycles: These motorcycles have been inspected and, in some cases, refurbished to provide the best value to the consumer.
• Used Parts: Engine parts, bodywork, gas tanks, electrical parts, frame, and chassis wheels and brakes are among the high-quality parts available.
Mission : Recycled Riding Dreams’ mission is to become Montclair’s principal source for used motorcycle parts.
Vision : We want to be so effective that we can help others.
Industry Overview: Over the last decade, motorbikes have become increasingly popular as a cost-effective mode of individual transportation. Through 2021-2031, the motorcycle industry is expected to develop at a steady 3.5 percent CAGR. While technological developments in the automotive industry have boosted sales significantly, macroeconomic factors such as increased disposable income and urbanization are also driving motorcycle sales across regions. Fact.MR has released a new analysis that examines the global motorcycle market in terms of new trends, growth drivers, restraining factors, and demand-supply dynamics, with an emphasis on lucrative regions like Asia Pacific, Europe, and North America.
Financial Overview
Financials is one of the most important sections of a Motorcycle Store business plan. You can get an idea of your projected revenue, required investment amount, is the business sustainable without additional funding, etc.
Financial Highlights
Use of funds.
Industry Analysis
The industry analysis section of the Motorcycle Store business plan will help you get better insights into competitors, market growth, and overall industry prospects. You can order a custom market research report for your Motorcycle Store business.
The market for motorcycles in the United States was valued at USD 7.85 billion in 2016 and is expected to increase at a CAGR of 3.7 percent over the next five years. Over the projected period, high disposable income is expected to boost demand for motorbikes in this region.
While working on the industry analysis section of the Motorcycle Store business plan make sure that you add significant number of stats to support your claims and use proper referencing so that your lender can validate the data.
According to the Motorcycle Industry Council, 8.4 million motorcycles were registered in the United States in 2014. New and various types of vehicles, such as scooters and motorcycles, are being developed by market players. They also offer personalized designs that are tailored to the needs of the rider in order to attract more clients and hence increase market demand. Furthermore, the motorbike is a popular product due to its higher fuel efficiency supplied by improved engines in compared to autos, low cost, and ease of operation in congested places. According to the Motorcycle Industry Council, overall motorcycle sales in the United States hit 413,128 units in the first nine months of 2015, a rise of 4.7 percent. Market growth can be ascribed to a surge in demand for a better and more efficient means of transportation. Bikes are also more appealing to the younger generation. Female motorcycle ownership grew to 14% in 2014, according to the Motorcycle Industry Council. This sector has an entirely new consumer base in the form of women. As a result, manufacturers are concentrating on designing smaller, lighter bikes. All these factors are boosting the growth of the industry.
Marketing Plan
A key part of the marketing plan in a Motorcycle Store business plan is the marketing budget. The growth in the number of customers is proportional to the budget and dependent on the CAC .
The motorbike industry is rapidly evolving. Today’s biker is 47 years old, up from 40 in 2009 and 32 in 1990. It’s undeniable that riders are becoming older and purchasing fewer bicycles. As a result, the motorcycle sector, which is still hurting from the recession, is turning to the future.
Manufacturers of motorcycles are betting on the Millennial generation. However, this generation, the largest since the Baby Boomers, isn’t as enthusiastic about bikes as their forefathers. Because of the shifting tide, manufacturers and dealers must learn about their new audience and how to interact with them.
More motorcycle manufacturers are beginning to design bikes that appeal to a younger market in order to achieve this goal. What about motorcycle dealers, though?
Dealers must understand their audience—and how to sell to this new generation—in an e-commerce environment where Millennials prefer digital buying. Only approximately a quarter of the motorbike market was made up of those aged 50 and older in 2003. That number has virtually doubled in the last few years. Because older riders are starting to put down their helmets, obtaining them does not generate a high lifetime return. As a result, motorcycle manufacturers are producing new, simplified (and affordable) models to appeal to younger riders who will be buying motorcycles for the rest of their lives.
Smaller, more cost-effective bikes that are more entry-level friendly are preferred by these younger audiences over the daunting 1000cc displacement bikes. The race for horsepower is gone, and the era of 300cc and 500cc bikes has arrived.
Organizational Plan
Financial Plan
T his s ection of th e Motorcycle Store business plan helps your lender figure out whether you will be able to pay off the loan, whether the business is sustainable, what are the growth prospects, etc.
Income Statement:
Cash Flow Statement:
Balance Sheet:
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- Motorcycle Dealership and Racetrack Business Plan
Motorcycle Dealership and Racetrack
Zoom Motors
34 Badger Blvd. Waukesha, WI 53186
Patrick J. Kuyath
Zoom Motors will be a totally new kind of motorcycle and ATV dealership that many riders have been waiting to come along. In its current state, Zoom Motors is strictly a home–based racing team that is backed by national sponsor Smith ATV for racing. There is also business that takes place at our current shop on the side, the repair and selling of motorcycles and ATVs. We already have a big consumer base from the quality of work that we complete on the side and we are often forced to turn away business due to our lack of time and space.
Zoom Motors will be using a $1,000,000 line of credit to start the business. This will include fifteen acres of land, a 10,000 square foot building, and national worthy motocross track.
EXECUTIVE SUMMARY
Zoom Motors is a motorcycle dealership that will be located just 40 miles from Milwaukee in Racine County. The focus of this dealership is off–road recreation and racing. Zoom will offer the major brands and their products; which are Honda, Yamaha, Suzuki/Kawasaki, and Ducatti. There will also be a selection available of sport motorcycles and personal watercraft available for purchase.
Zoom Motors will have two on–site motocross tracks that will attract customers to the business—one of which will be the main race track, with another small one in front for displays. This dealership will be unique because it will not only be selling the product, but it will be also providing a place for the customers to ride and race their motorcycles and ATVs at the track.
From the second a customer walks through the door they will experience a totally new kind of dealership. Customers will be encouraged to sit on and tryout the products. There is going to be an extensive amount of inventory and bikes throughout the entire store. This is not going to be the typical modern day trend of selling to the Harley Davidson crowd. This will be the type of dealership that is seen in mail order catalogs that is specifically designed for off–road enthusiasts.
The street legal motorcycles will be concentrated towards the sport bikes rather than cruisers or touring bikes. These are the motorcycles that are raced throughout the world and are available for the public to buy. A customer will be able to come in and purchase their motorcycle and then customize it to the kind of riding they wish to do. This includes things like a better exhaust system or bigger foot pegs for more stability and performance. Zoom Motors will be set up for the action adventure seeking individual who is into extreme sports.
Along with offering a catalog and internet sight for orders, Zoom Motors will pride itself on having the availability of their products in store. If a customer walks in and is looking for a popular off–road product they won't have to pay for it up front, order it, and then return a week later to pick it up. We will have it and we will also have all the needed goods for riding at reasonable prices. This includes oils, gases, safety equipment, boots, and much more.
The race track at the dealership will be sanctioned by the American MotorcyclistAssociation (this is the sanctioning organization of U.S. on– and off–road motorcycle and ATV racing); this way the A.M.A. puts all responsibility in the arms of the rider. To become a member all you have to do is fill out the application that waves the riders rights from holding the A.M.A. or the track owners from any liability due to the rider or other rider's actions. The cost of a membership is $39 per year.
There will also be riding lessons and advanced training available for those interested. These courses will encourage safety and responsibility for new riders along with teaching them the skills that are necessary to be a good rider. The advanced classes will be more focused on racing which will teach important speed techniques and riding styles to improve riders for racing. Along with this there will also be special clinics at times throughout the year that will be taught by past racing legends and current stars of the sport today.
Zoom Motors will be funded by a family loan of $1,000,000; the dealership will be able to pay this back within ten years and be self sufficient. The initial start up cost will cover the initial purchase of heavy equipment for the track, and then fund the building of the dealership. Finally the money will be used for the cost of stocking parts and inventory. The total start up costs included should be under $800,000; this is based off of $300,000 for track and equipment, $250,000 for construction of building, and $250,000 for inventory, supplies, and licensing.
PRODUCTS & SERVICES
As mentioned in the executive summary, Zoom Motors will be driven towards off–roading and performance–based street bikes. To go along with the products that are offered at the dealership there will also be a great amount of service. Zoom Motors will pride itself in addressing the customer's needs. There will be no three week waiting period at this dealership for your bike to be looked at before it can be serviced. Zoom Motors will be able to diagnose on sight what is wrong with the motorcycle or ATV and then have it fixed in a week or less. Most motorcycle dealerships take the better part of three weeks to rebuild a single cylinder engine which only requires about three hours of work. We will be able to do the same service in one week or less because of our extensive inventory of parts and our own machine shop on site. This way all work takes place and gets done in a timely fashion all at one location.
The on–site motocross track is another service that is available at Zoom Motors that is not available at any other dealerships. Not only will the customers and racers be able to come and enjoy riding, but there will be riding classes and lessons to teach upcoming racers how to ride, as well as existing racers how to improve upon their ability. The services of Zoom Motors will start first with the opening of the track when the land is acquired and a track is built. It will remain open while the dealership is constructed and eventually open. The track will be functional for a full year before the dealership is open.
Also with being able to place orders in the store, consumers will be able to order either over the phone or through the internet from our parts catalog. The parts catalog will list all of our products that we stock and can order along with our services such as rebuilding of components. A big contribution to our part catalog is that we will be the only dealership other than Smith to sell Smith custom ATV products. This is a high–end line of accessories for motorcycles and ATVs that are currently only available through Smith. Smith is a very popular and well known business throughout the entire United States. This will better improve Zoom Motors' business along with Smith's because they will then have an established distributor in the Midwest. Once the dealership is open and attending racing events other than its own, the dealership will set up the system of selling parts and accessories at races other than its own. This will be done by having an extra trailer come to other races that will be stocked with products.
The NAICS code for a dealership is 441221 and for a race track it is 711212; SIC dealership code is 5571. According to the database this industry is growing rapidly with a lot of profit being made. The 1997 Economic Census showed that the NAICS 441221 motorcycle dealers showed 3,635 establishments with sales ($1,000) of 7,369,260. The SIC code showed that from 1992 to 1997 the number of establishments had grown from 3,585 to 3,635 and sales ($1,000) had jumped from 4,162,684 to 7,369260. The Payroll had gone from ($1,000) 427,155 to 712,065 and paid employees had gone from 22,184 in 1992 to 29,026 in 1997. So, while there had only been 1.4% increase in establishments, there had been a 77% growth in sales, a 66.7% growth in payroll and a 30.8% growth in employees. A more recent 2002 survey that was conducted by ATV Aficionado showed increases since 1997; these were a 4.3 % in establishments and a 45% growth in sales. This proves that the business is growing at a quick pace and that new establishments are successful.
Currently in 2005, there are seven motocross tracks in Wisconsin and five in Illinois. These tracks will be distant enough that permission is not required for A.M.A. sanctioning. Of the tracks that do exist, they are general purpose tracks that are not laid out in the fashion that Zoom's will be; there will be an easy distinction between the tracks. There are a number of other riding areas in the state of Wisconsin, but they are of a different layout and are therefore separate from Zoom's side of business and competition would not exist.
MARKET ANALYSIS
The target market for Zoom Motors is very broad, it reaches out to families who are wanting something fun to do together, farmers who are looking for an ATV to help with the chores, and racers interested in dirt and street racing. The bull's–eye for this dealership is the off–road racer and enthusiast, but everyone else is not far off. A family will be able to come in and buy small dirt bikes and ATVs for their children and more advanced ones for themselves. The children can then be properly instructed with the professional judgment and obtain skills that are necessary to be safe and have fun while riding their motorcycles and ATVs. Zoom Motors is also chasing after the mail–order consumer who takes care of their bike themselves. A mail–order consumer is a person involved in the sport but acts as their own mechanic by ordering their own parts and doing their own maintenance. Zoom Motors will be able to satisfy this crowd as well because of our long line of parts that are offered through our own catalog and out of numerous parts that we keep in stock at all times. Our consumer area is the entire United States, due to the mail order catalog. However, our main concentration of customers will be anyone within a four hour drive of Zoom Motors. This is so because the enthusiasts of the sport are used to traveling for races and are more than happy to travel in order to get the right part when they need it. Because Zoom Motors will be able to attract customers from different backgrounds, the profitability will be continually growing each year.
The industry closely associated is the American Motorcyclist Association and its members. In order to race at Zoom Motors, the participant would have to be a member. Currently the A.M.A. has around 270,000 members with an average household income of $84,000. Out of the 270,000 members there are 50,000 that would fall into the specific target area of Zoom Motors. This is a big industry base to pull customers off of and it would be easily accomplished by placing an ad in the monthly A.M.A. magazine.
COMPETITION
Direct competition would be minimal and mainly be on the mail–order side of the business with catalogs and magazines. Other dealerships in the area of Zoom Motors address themselves to a different following that we do, except for one. Wisconsin Cycles is this dealership; however they mainly address themselves to the sales of Polaris, all terrain vehicles; which is the agricultural side of the business that Zoom Motors would not be investing in. Since Zoom Motors will be offering Honda, Yamaha, Kawasaki/Suzuki, and Ducatti, Wisconsin Cycles is a very insignificant threat to business. The closest dealer of any brand of motorcycle and ATV would be Amazing Motors in New Berlin. This business is only ten miles from the location of Zoom Motors, but they would be at the disadvantage of this dealership. Amazing Motors sells only two brands of machines, KTM and Arctic Cat. Both are off brand versions and are very much less sought after in the U.S. Their product line would keep them distinguished to their customers and Amazing Motors. Amazing Motors will actually help out Zoom Motors by referring them to us for the brands that we carry.
Competition on the racetrack side would be any track in the state of Wisconsin and Illinois. There are only eight tracks in the state of Wisconsin and ten in Illinois. The closest one to Zoom Motors would be the track located in Pewaukee, Wisconsin, approximately a half hour away. They would also be the only direct barrier to entry as well. However, this obstacle is already overcome. In order to become an A.M.A. sanctioned track and hold events you must get the permission of anyone else that has a track within a 50 mile area. The owner of the Pewaukee track has already given the go ahead for a track at Zoom Motors. This is so because the Pewaukee track is very long and motocross style (smaller jumps), while the Zoom Motors track will be significantly shorter with more of a supercross layout (larger jumps). Because of this, all competition between the two tracks is eliminated. There are two other area sanctioned A.M.A. tracks but they are enduro tracks which do not affect a motocross track because it is a different form of racing.
MARKETING & SALES
The marketing strategy for Zoom Motors is very simple; let consumers know we have what they want and at a fair price. In order to achieve this, Zoom Motors will have a race trailer at every major race in the area as well as at the national events and will be promoting the business and giving out promotional spark plugs to racers. This is something that will attract much attention because spark plugs normally cost three dollars, but at a race track they can sell for anywhere from six to ten dollars. It costs eighteen dollars for a twenty pack of sparkplugs and racers in need will be sure to remember who gave them that sparkplug.
Another marketing strategy that Zoom Motors wi11 use is sponsorship. Any rider who wins in their class at the Zoom Motors race track will be offered sponsorship of 10% off of any purchases for the rest of the season; this will be an advantage over competition because no one else can offer this due to our on site track. There will also be more sponsorship available for selected riders who go to the nationals along with the development of the dealership owned race team. Other competitors offer sponsorship at many different levels, however the Midwest has been left behind in some areas of this because most of the bigger dealers who offer this are located on the east and west coasts.
A big advantage in marketing that the dealership has over any other competitor is the race track available on site. The dealership will sponsor its own events along with selected promoters and will advertise their products by having the dealership open during race days. This way anyone who came to watch a race, or racer who is participating in it, can buy any product on the race day.
Web site marketing will also help move product, this will be so because the website will be accessible around the clock so that the customer can place their order any time. The product catalog will also help with marketing because it will be freely distributed at racing events and mailed out to any customer that has made a purchase of twenty dollars or more from the previous year. These two forces combined will inform customers of our new and existing products and bring their attention to what exactly Zoom Motors has to offer. Another thing as mentioned in the industry description that would be taken advantage of to promote Zoom Motors is the A.M.A. magazine. Advertisements placed in this would be seen by key consumers that are specifically being targeted by the business.
Location is a very big key element to any business, which is why Zoom Motors has precisely chosen its location in an area that has a high demand for our product. Zoom Motors will be located right along the side of Hwy. 18 in Waukesha, WI. This is only forty miles from downtown Milwaukee and two hundred from Cheboygan. Customers will be able to simply exit at the Waukesha exit and make a right on the north service road and come right back to the dealership. And not only is the dealership visible from the highway, the motocross track is as well. This location will sell itself when people passing by will see the track and people riding on it.
As far as the track is concerned, this location will bring in many customers. I have not been to a single motocross track that is not out of the way. Every one seems to be at least fifty miles off the main roadway on a dirt road with no hotels or amenities near by. This location is seconds from the highway which makes it very easy to find and will draw in many participants because of this.
The physical facility of the dealership will be a 10,000 square foot steel erection building. It will have a divider directly in the center of it which will divide the service/inventory area from the show room which will contain motorcycles and apparel. Hours of operation for the dealership will be Monday through Friday 9:00 a.m.- 7:00 p.m., and Saturday from 8:00 a.m. -5:00 p.m. Hours of operation for the motocross track will be Tuesday through Friday from 12:00 a.m. -6:00 p.m., Saturday and Sunday from 7:00 a.m. -6:00 p.m. Also, zoning for the location will not be a factor because the physical approval paperwork is currently being approved and will be official in a matter of weeks. This was an easy barrier to get around because there are no homes close to the site of the business.
Management Summary
The service department of the dealership will be growing and advancing rapidly along with the rest of the company. The plan is for one mechanic starting out (Kyle Pelz), who will also run the parts department, and then add a new mechanic to the business each year as business grows. Kyle holds Motorcycle Mechanics Institute Certification for mechanics on motorcycles and ATVs; along with five years experience. The office/paperwork portion of the business will be handled by the secretary of the business (Megan Brown) and she will maintain the human resources portion of the business as well. Megan has six years experience of running two different businesses; this is a proven track record that she has what it takes to make an office work. The owner (Greg Johnston), will be the overseer of the entire business and concentrate most of his time towards sales and the race track. Greg currently runs Zoom Motors out of his race garage where he currently maintains inventory, oversees maintenance of customers' bikes, sells bikes to customers, and preps a private race track.
There will also be the hiring of a sales person in the second year to better serve customers. The human resource side of the business is planning on employing about two new employees per year until needs are satisfied. An employee will not be hired until the business has grown to the point that additional help is needed beyond the three initial employees. This means that there could be an extra mechanic hired the second week of business or the second month, work load is determined on this. There will also be a seasonal part time worker for the preparation of the track and maintenance of the facility.
For race day staffing there will be a number of local part time workers and volunteers that are friends or family of the racers. There is also a volunteer force for motocross events, the Motocross Parents Association. This group of individuals shows up at races where their family is racing and they help out at the track by filling in a number of different jobs. There will be a total employed work force of eight for race days and on average twenty volunteers.
FINANCIAL ANALYSIS
The plan of attack for the financials is to first construct and open the motocross track portion of the business first. By doing this the word will get out to a large number of consumers about a new motocross track that is open in the area to go riding at and that holds races. Once there, they will be able to see the ongoing construction of the dealership and they will realize that this is going to be much more than just a track. By implementing this plan, Zoom Motors will have a big customer base before the doors of the business even open. Once the dealership is open for business there will already be an established customer base and consumers will be coming for all of their needs. The financial schedule plans for there to be an average start in the sales and service of the business with a major emphasis on the revenue from the track. Sales of new and used motorcycles and ATVs along with parts should start out sufficient with the four product lines offered and then grow rapidly once a broad customer base is achieved.
On the financial schedule the motorcycles show up as not that much; that is because this is only the price of used and custom built machines that are at the dealership. All new motorcycles, ATVs, and personal watercraft are under contract from the manufacturers and belong to them until time of sale. This means that Zoom Motors can have at any time upwards of $500,000 of motorcycles available for sale, but only a fraction of that is actual property of the dealership.
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How to Start a Motorcycle Shop
Hitting the open road, with nothing but a motorcycle and a few essentials, has long been a favored American pastime. Those active within the motorcycling community regularly require maintenance and repair on their motorcycles and enjoy spending their hard-earned money on accessories that enhance their riding experience. From selling new and used parts, to bike repair and rebuilds, motorcycle shops offer a variety of goods and services that fit the immediate and long-term needs of bike enthusiasts.
Ready to form your LLC? Check out the Top LLC Formation Services .
Learn how to start your own Motorcycle Shop and whether it is the right fit for you.
Start a motorcycle shop by following these 10 steps:
- Plan your Motorcycle Shop
- Form your Motorcycle Shop into a Legal Entity
- Register your Motorcycle Shop for Taxes
- Open a Business Bank Account & Credit Card
- Set up Accounting for your Motorcycle Shop
- Get the Necessary Permits & Licenses for your Motorcycle Shop
- Get Motorcycle Shop Insurance
- Define your Motorcycle Shop Brand
- Create your Motorcycle Shop Website
- Set up your Business Phone System
There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your motorcycle shop. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
Exploring your options? Check out other small business ideas .
STEP 1: Plan your business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
- What are the startup and ongoing costs?
- Who is your target market?
How much can you charge customers?
What will you name your business.
Luckily we have done a lot of this research for you.
What are the costs involved in opening a motorcycle shop?
Veteran motorcycle shop owners recommend a budget of approximately $55,000. This number could vary significantly, depending upon the inventory you choose to carry and services you intend to offer.
Initial investments should include:
- Shop location - first and last month’s rent is typically required
- Inventory - engine and electrical parts, accessories, parts for repair services, and motorcycles
- Display equipment
- Marketing supplies and a website
If your intention is to manage a larger dealership, your start-up budget should be significantly higher. Prior to writing your business plan, focus on building relationships with wholesale retailers. They set the prices and can offer valuable insight into what your initial and ongoing investment should be.
What are the ongoing expenses for a motorcycle shop?
As a repair and retail establishment, you will be facing a number of ongoing expenses. In addition to the standard rent, utilities, phone, and Internet, you will need to budget for the following:
Established shop owners indicate a break even budget of $16,000 per month.
Who is the target market?
Men falling in the 18 - 25 and 40 - 65 age brackets represent more than 80% of motorcycle sales. While your shop will generate revenue from novice bikers, the bulk of your marketing campaign should be geared towards experienced bikers.
How does a motorcycle shop make money?
Your shop will generate income based on the goods and services offered. Some businesses operate on a local level only, while others sell goods online, expanding their reach to a much broader audience.
Fees for maintenance, repair, and bike customization are based on labor and parts. Parts and accessory price are generally marked up 100%.
How much profit can a motorcycle shop make?
Unlike many businesses, motorcycle shops often see a profit in the first year. While the first three years may generate a profit of $13,000 to $17,000, this is a positive sign and sets the business up for long-term growth and success. Total annual profits vary, depending upon the specifics of what services you offer, what parts and accessories you sell, and how you plan to sell them. Annual profits can range between $35,000 to $64,000 or more.
How can you make your business more profitable?
Many motorcycle shop owners report having significant success operating an online motorcycle parts business. Since bike shops are often a place to congregate, offering food and drinks, along with a comfortable seating area, will ensure your customers are comfortable and happy. This is an effective way to increase your profits without a large increase in overhead costs. Shop owners have also realized success by offering airbrushing services, selling second-hand bikes, and offering motorcycle tutorials to educate those interested in learning more about their hobby.
Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Motorcycle Shop Name Generator
If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.
When registering a business name , we recommend researching your business name by checking:
- Your state's business records
- Federal and state trademark records
- Social media platforms
- Web domain availability .
It's very important to secure your domain name before someone else does.
Find a Domain Now
Powered by godaddy.com, step 2: form a legal entity.
The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .
Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your motorcycle shop is sued.
Form Your LLC
Read our Guide to Form Your Own LLC
Have a Professional Service Form your LLC for You
Two such reliable services:
You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.
Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.
STEP 3: Register for taxes
You will need to register for a variety of state and federal taxes before you can open for business.
In order to register for taxes you will need to apply for an EIN. It's really easy and free!
You can acquire your EIN for free through the IRS website, via fax, or by mail. If you would like to learn more about EINs and how they can benefit your LLC, read our article, What is an EIN?.
Learn how to get an EIN in our What is an EIN guide or find your existing EIN using our EIN lookup guide.
Small Business Taxes
Depending on which business structure you choose, you might have different options for how your business will be taxed. For example, some LLCs could benefit from being taxed as an S corporation (S corp).
You can learn more about small business taxes in these guides:
- Sole Proprietorship vs LLC
- LLC vs Corporation
- LLC vs S Corp
- How to Start an S Corp
- S Corp vs C Corp
There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.
STEP 4: Open a business bank account & credit card
Using dedicated business banking and credit accounts is essential for personal asset protection.
When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .
Additionally, learning how to build business credit can help you get credit cards and other financing in your business's name (instead of yours), better interest rates, higher lines of credit, and more.
Open a business bank account
Besides being a requirement when applying for business loans, opening a business bank account:
- Separates your personal assets from your company's assets, which is necessary for personal asset protection.
- Makes accounting and tax filing easier.
Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.
Open net 30 accounts
Net 30 accounts are used to establish and build business credit as well as increase business cash flow. With a net 30 account, businesses buy goods and repay the full balance within a 30-day term.
NetMany net 30 credit vendors report to the major business credit bureaus (Dun & Bradstreet, Experian Business, and Equifax Business Credit). This is how businesses build business credit so they can qualify for credit cards and other lines of credit.
Recommended : Read our best net 30 vendors , guide and start building business credit.
Get a business credit card
Getting a business credit card helps you:
- Separate personal and business expenses by putting your business' expenses all in one place.
- Build your company's credit history, which can be useful to raise money later on.
Recommended: Apply for an easy approval business credit card from Divvy and build your business credit quickly.
STEP 5: Set up business accounting
Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
Make LLC accounting easy with our LLC Expenses Cheat Sheet.
STEP 6: Obtain necessary permits and licenses
Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.
State & Local Business Licensing Requirements
Certain state permits and licenses may be needed to operate a motorcycle shop business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .
Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .
For information about local licenses and permits:
- Check with your town, city or county clerk’s office
- Get assistance from one of the local associations listed in US Small Business Associations directory of local business resources .
Certificate of Occupancy
A motorcycle shop business is generally run out of a standalone building. Businesses operating out of a physical location typically require a Certificate of Occupancy (CO). A CO confirms that all building codes, zoning laws and government regulations have been met.
- If you plan to lease a location :
- It is generally the landlord’s responsibility to obtain a CO.
- Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to a motorcycle shop business.
- After a major renovation, a new CO often needs to be issued. If your place of business will be renovated before opening, it is recommended to include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.
- If you plan to purchase or build a location :
- You will be responsible for obtaining a valid CO from a local government authority.
- Review all building codes and zoning requirements for your business’ location to ensure your motorcycle shop business will be in compliance and able to obtain a CO.
STEP 7: Get business insurance
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.
There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.
Learn more about General Liability Insurance .
Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.
Recommended: Learn what business insurance for your Motorcycle Shop will cost.
Business Insurance for Motorcycle Shop
STEP 8: Define your brand
Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.
If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.
Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .
If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.
How to promote & market a motorcycle shop
Bike shop owners who generate the most sales have an established and respected reputation within the community. They are active in local motorcycle organizations and are known for their skills in repairing and/or customizing bikes and for their extensive knowledge on the culture and history. Because this is such a tightly knit community, much of your marketing will be through word of mouth and staying active. An involved and informative social media presence will be critical in reaching potential customers that might otherwise be unaware of your sound reputation. Online registries and ads in motorcycle magazines will also assist you in reaching a broader audience.
How to keep customers coming back
Motorcycle shops often morph into much more than just a place of business. They become social hubs, attracting regular business and, ultimately, like a family. While this is a retail and repair shop, it would prove beneficial to create a space that is comfortable for those who wish to socialize during shop hours. Offering a discount to local motorcycle organizations will also help ensure repeat customers.
Still unsure about what kind of business you want to start? Check out the latest Small Business Trends to help inspire you.
STEP 9: Create your business website
After defining your brand and creating your logo the next step is to create a website for your business .
While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.
Here are the main reasons why you shouldn’t delay building your website:
- All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
- Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
- Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.
Using our website building guides , the process will be simple and painless and shouldn’t take you any longer than 2-3 hours to complete.
Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .
Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .
STEP 10: Set up your business phone system
Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.
There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.
Recommended Business Phone Service: Phone.com
Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.
Start a Motorcycle Shop in your State
- Connecticut
- District of Columbia
- Massachusetts
- Mississippi
- New Hampshire
- North Carolina
- North Dakota
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
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Is this Business Right For You?
If motorcycles and their subculture are your passion and you possess both the knowledge and drive to manage your own business, opening a motorcycle shop may be the perfect fit for you. The motorcycle community is a tightly-knit group of people; so entrepreneurs who are well-known and respected within this circle are set up to realize the most significant long-term success.
Want to know if you are cut out to be an entrepreneur?
Take our Entrepreneurship Quiz to find out!
Entrepreneurship Quiz
What happens during a typical day at a motorcycle shop?
You and your team’s daily activities will be defined by the services you offer and how you structure your business. In addition to administrative duties, such as paying bills and answering customer questions, the shop must be properly managed and client’s needs should be attended to. Once implemented, marketing strategies will need to be tweaked regularly, to ensure your target audience is reached. Much of your shop’s marketing will require taking advantage of networking opportunities, such as community rides, fundraisers, and meetings.
What are some skills and experiences that will help you build a successful motorcycle shop?
Those considering embarking on this new business path must possess significant knowledge of motorcycles. You should be educated on parts, repair, various models, and safety, as well as the community and its history. Most motorcycle shop owners have been fully immersed in the culture for many years, having built a positive reputation in the process. Previous experience in repair and sales shops will provide you with the knowledge and experience to care for your customers and maneuver through the obstacles that come with running your own business.
What is the growth potential for a motorcycle shop?
The biking industry has expanded significantly over the last decade, reaching a previously untapped customer base. As the number of motorcyclists increases, so does their need for bikes, both new and used, as well as parts and accessories. Entrepreneurs with strong business acumen should utilize this unique opportunity, expanding their businesses on both a local and national level.
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Take the Next Step
Find a business mentor.
One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.
Having a support network in place to turn to during tough times is a major factor of success for new business owners.
Learn from other business owners
Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.
Resources to Help Women in Business
There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:
If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.
What are some insider tips for jump starting a motorcycle shop?
Veteran motorcycle shop owners offer some valuable advice:
- While it can prove beneficial to keep some of your inventory on display outside of the shop, consider the elements before doing so. Keep motorcycles outside for short periods of time to avoid a loss in value.
- Prior to opening your own shop, work with someone else in the community. Learn as much as you can about every aspect of the business. Even if you are required to work for free, this will prove to be a worthy investment.
- Building a successful shop requires stellar service and fair prices. Find out what others in the community are charging and charge 20-30% less.
- The retail and service industry requires a really thick skin; particularly in the motorcycle community.
- Require all repair jobs to be paid in full before the customer leaves the shop.
How and when to build a team
Given the family like atmosphere of these establishments, your team will likely build itself organically. As you get to know the skills and knowledge of those within the community, you will be able to assemble a crew that helps solidify your business’ reputation in the industry.
Get more ideas with our Business Ideas Generator .
Check out our How to Start a Business page.
Sign up at the Business Center to access useful tools for your business.
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It should be noted that there is no special software required to use these templates. All business plans come in Microsoft Word and Microsoft Excel format. Each business plan features:
- Excecutive Summary
- Company and Financing Summary
- Products and Services Overview
- Strategic Analysis with current research!
- Marketing Plan
- Personnel Plan
- 3 Year Advanced Financial Plan
- Expanded Financial Plan with Monthly Financials
- Loan Amortization and ROI Tools
- FREE PowerPoint Presentation for Banks, Investors, or Grant Companies!
1.0 Executive Summary
The purpose of this business plan is to raise $250,000 for the development of a motorcycle dealership while showcasing the expected financials and operations over the next three years. The Motorcycle Dealer, Inc. (“the Company”) is a New York based corporation that will provide sales of motorcycles, sales of after market parts, and mechanical services to customers in its targeted market. The Company was founded by John Doe.
1.1 Products and Services
The primary revenue source for the business will be the direct sales of motorcycles to customers. Mr. Doe is currently developing a number of dealership relationships with major motorcycle manufacturers so that the business can quickly acquire its motorcycle inventories. Furthermore, Mr. Doe expects that the business will sell 8 to 12 motorcycles per month, each with an average purchase price of $7,000 to $8,000. The business will also offer maintenance services and motorcycle upgrades in parts, paint, add-ons, detailing and anything else the customer requests and is willing to pay. This is an extremely important business unit for the Company as the recurring streams of revenue generated by the business will help to offset any potential risks associated with the business. The third section of the business plan will further describe the services offered by the Motorcycle Dealer.
1.2 The Financing
Mr. Doe is seeking to raise $250,000 from as a bank loan. The interest rate and loan agreement are to be further discussed during negotiation. This business plan assumes that the business will receive a 10 year loan with a 9% fixed interest rate.
1.3 Mission Statement
The Motorcycle Dealer’s mission is to become the recognized leader in its targeted market for motorcycle sales and mechanical services.
1.4 Mangement Team
The Company was founded by John Doe. Mr. Doe has more than 10 years of experience in the retail management industry. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.
1.5 Sales Forecasts
Mr. Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years.
1.6 Expansion Plan
The Founder expects that the business will aggressively expand during the first three years of operation. Mr. Doe intends to implement marketing campaigns that will effectively target individuals within the target market.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Motorcycle Dealer, Inc. The Company is registered as a corporation in the State of New York.
2.2 Required Funds
At this time, the Motorcycle Dealer requires $100,000 of debt funds. Below is a breakdown of how these funds will be used:
2.3 Investor Equity
Mr. Doe is not seeking an investment from a third party at this time.
2.4 Management Equity
John Doe owns 100% of the Motorcycle Dealer, Inc.
2.5 Exit Strategy
If the business is very successful, Mr. Doe may seek to sell the business to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Motorcycle Dealer. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings.
3.0 Products and Services
Below is a description of the motorcycle sales and mechanical services offered by the Motorcycle Dealer.
3.1 Sales of Motorcycles
As stated in the executive summary, the business will carry a diverse line of motorcycles from a number of brand name manufacturers both domestically and internationally. At this time, Mr. Doe is actively sourcing manufacturers that will develop distributor relationships with the Company so that it can acquire its wholesale inventories of motorcycles. The Company will maintain a 2000 square foot show room. Management expects to sell 8 to 12 motorcycles on a monthly basis.
3.2 Parts and Services
In addition to the products above, the Company will also provide motorcycle parts and service to clients. Mr. Doe anticipate that the business will earn a 95% gross margin from the sale of maintenance services and a 70% gross margin on the sales of after-market parts. This is an important revenue and profit center for the Company. The service aspect to the Motorcycle Dealer’s operations will ensure that the business will remain profitable and cash flow positive despite any declines in new/used motorcycle sales.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
This section of the analysis will detail the economic climate, the motorcycle dealer industry, the customer profile, and the competition that the business will face as it progresses through its business operations. Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid-2010, at which point the economy will begin a prolonged recovery period.
4.2 Industry Analysis
In the United States there are over 5,600 established businesses that actively engage in the sale of motorcycles. The industry employs approximately 52,000 people and generates average annual payrolls exceeding $1.5 billion dollars. The industry generates approximately $18 billion dollars on an annual basis. This is a mature industry, and the expected future growth rate will equal that of the economy in general. As the current economic climate in the United States is difficult, the Company may have issues with top line income. However, the Company’s mechanical services (which generate high margin income) will ensure the continued profitability of the business on a month to month basis.
4.3 Customer Profile
The Motorcycle Dealer’s average client will be a middle to upper middle class man or woman living in the Company’s target market. Common traits among clients will include: • Annual household income exceeding $50,000 • Lives or works no more than 25 miles from the Company’s location. • Will spend $7,000 to $8,000 on a new motorcycle. • Will spend $500 to $1,000 per year on motorcycle maintenance services.
4.4 Competitive Analysis
This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. If there are a number of competitors in the same industry (meaning that it is not feasible to describe each one) then showcase the number of businesses that compete with you, and why your business will provide customers with service/products that are of better quality or less expensive than your competition.
5.0 Marketing Plan
The Motorcycle Dealer intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of the Motorcycle Dealer.
5.1 Marketing Objectives
• Develop an online presence by developing a website and placing the Company’s name and contact information with online directories.
• Implement a local campaign with the Company’s targeted market via the use of flyers, local newspaper advertisements, and word of mouth advertising.
• Acquire a highly visible location with expansive signage to increase visibility among drivers and passers-by in the target market.
5.2 Marketing Strategies
Mr. Doe intends on using a number of marketing strategies that will allow the Motorcycle Dealer to easily target men and women within the target market. These strategies include traditional print advertisements and ads placed on search engines on the Internet. Below is a description of how the business intends to market its services to the general public. The Motorcycle Dealer will also use an internet based strategy. This is very important as many people seeking local businesses, such as motorcycle dealers, now the Internet to conduct their preliminary searches. Mr. Doe will register the Motorcycle Dealer with online portals so that potential customers can easily reach the business. The Company will also develop its own online website showcasing the Company’s current inventory, its mechanic services, its Management Team, hours of operation, and location information. The Company will maintain a sizable amount of print and traditional advertising methods within local markets to promote the motorcycles and motorcycle repair services that the Company is selling.
5.3 Pricing
In this section, describe the pricing of your services and products. You should provide as much information as possible about your pricing as possible in this section. However, if you have hundreds of items, condense your product list categorically. This section of the business plan should not span more than 1 page.
6.0 Organizational Plan and Personnel Summary
6.1 Corporate Organization
6.2 Organizational Budget
6.3 Management Biographies
In this section of the business plan, you should write a two to four paragraph biography about your work experience, your education, and your skill set. For each owner or key employee, you should provide a brief biography in this section.
7.0 Financial Plan
7.1 Underlying Assumptions
• The Motorcycle Dealer will have an annual revenue growth rate of 16% per year.
• The Owner will acquire $250,000 of debt funds to develop the business.
• The loan will have a 10 year term with a 9% interest rate.
7.2 Sensitivity Analysis
In the event of an economic downturn, the business may have a decline in its revenues. Motorcycles are usually purchased as secondary vehicles, and during deleterious economic climates, the business may have issues with top line income. However, and as stated before, the Company will be able to maintain profitability from its mechanical services.
7.3 Source of Funds
7.4 General Assumptions
7.5 Profit and Loss Statements
7.6 Cash Flow Analysis
7.7 Balance Sheet
7.8 General Assumptions
7.9 Business Ratios
Expanded Profit and Loss Statements
Expanded Cash Flow Analysis
Business Plan PDF
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Starting a small business as a Motorcycle Repair Shop
If you’re ready to start your small business as a Motorcycle Repair Shop, the first thing you need to do is get started with a Business Plan for Motorcycle Repair Shop. To achieve success, you must plan for it.
As a business owner you will need to understand all aspects of your business in order to keep it running like a well-oiled machine. Your business plan will organize every element of your business strategy and provide you a clear map for you to follow for the lifespan of your business.
This free business plan builder template will help you develop your own Business Plan for Motorcycle Repair Shop. The business plan template is an interactive tool that will quickly and easily create a custom business plan just by having you answer questions about your business. The result is a clean, professional plan that is both informative and convincing.
If you want your Business Plan for Motorcycle Repair Shop to be even better after you’ve completed the free tool, you can always get in touch with a business plan or a funding advisor to get a bit more help and guidance.
This is the perfect way to get a Motorcycle Repair Shop Business Plan created for free!
Other entrepreneurs who have successfully used the free business plan template tool have been able to create a Modeling School, Oriental Rug Store, Tree Farm, Chinaware Store, Lapidary, and for many more different business types.
Using the free business plan template tool to create a business plan for an a Motorcycle Repair Shop
The free business plan template builder is divided into a few easy to follow steps.
Step 1. Enter your business information
As you develop your business plan for a Motorcycle Repair Shop with the free business plan template, it’s important to answer the questions about your business such as; what your business is, what your products/services are, who your customers are and what your goals are.
A clear explanation of the products/services the Motorcycle Repair Shop business offers and what you intend on charging to make revenue is very important to ensuring a properly developed business plan. The free business plan builder tool helps you do exactly that by guiding you step by step.
Step 2. Entering your expected revenues
Sales and revenue figures are a critical step to any business plan. So, what do you think your business will make from each of its products/services? Simply list your products/services, enter the appropriate financial figures (costs and expenses).
If you don’t have the figures, in many cases it is recommend doing a bit more research on other Motorcycle Repair Shop business locally and within your own province to get an idea of potential revenue. You can do your best to estimate the figures and growth potential.
Step 3. Discuss your market
As a Motorcycle Repair Shop business, a clear explanation of the market you are in, the industry and the competition will help you take your business to the next level.
Explain your location of business, share specifics about your customers, showcase your competition and explain the advantages you have over your competition.
A properly developed business plan will go in detail and explain each of the above.
Step 4. Discuss the future plan
Getting your Motorcycle Repair Shop business off the ground is important and in order to ensure a solid business plan, it’s important to discuss how you intend on achieving success with your business. This means explaining your marketing plan, your sales strategy and clearly outlining a growth plan for the next few years.
Be sure to break this down step by step to show how you intend on making sure your Motorcycle Repair Shop business can grow each year.
Keep in mind that often business plans are focused around key people. Be sure to discuss yourself, your role and any other key figures in the business as well.
Step 5. Enter the financials
A critical piece to any business plan is the financials. No matter if you are seeking funding for your business or not, financials are a must. The business plan builder tool makes it easy to develop your financial charts by simply entering your expected revenues per month and year.
If you don’t have the figures as it’s a new business be sure to project the figures based on your expectations.
A clear breakdown of your funding needs is also recommended in case you are seeking funding and this free business plan template will help you with exactly that.
The above 5 steps are recommended steps to follow in order to develop a proper business plan. While there are other key points that are a must, the free business plan template will help you start.
Be sure to request a professional to review your business plan , to answer any questions you may have and to help you with the funding search once you’ve done the initial free template. You can request this directly via CanadaStartups.org and through the Small Business Startup Platform .
If you are considering other options aside from a Motorcycle Repair Shop business, consider some of these popular business’s others have chosen to startup.
- Modeling School
- Preparatory School
- Beer Distributor
- Parking Lot for Bicycles
It takes 30 seconds to learn more about small business funding and if your small business in Canada may be eligible for government funding.
Fill out the form below for more info or give us a call at 1-800-288-9691
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Preparing a financial plan for your business is important if you plan to pursue business finance options such as loans, according to Inc. Business finance companies look at the short-term viability as well as the long-term potential of a bu...
While it may be tempting to put off, creating a business plan is an essential part of starting your own business. Plans and proposals should be put in a clear format making it easy for potential investors to understand.
If you’re starting a new business, then you need an effective plan. Not only does this enable you to plan your company, but it also gives potential clients an insight into how your business works. A business plan is also vital if you want t...
For the beginner, Recycled Riding Dreams offers excellent value in a first bike that will not bust the customer's budget. For the experienced biker, quality
Recycled Riding Dreams will offer quality used motorcycles and motorcycle parts to a growing market of motorcycling hobbyists. The shop will purchase used
Financials is one of the most important sections of a Motorcycle Store business plan. You can get an idea of your projected revenue, required
Motorcycle Shop Business Plan Sample. This is presently a home based business and trying to branch out. Looked on the internet and all I get
There is also business that takes place at our current shop on the side, the repair and selling of motorcycles and ATVs. We already have a big consumer base
Plan your Motorcycle Shop · Form your Motorcycle Shop into a Legal Entity · Register your Motorcycle Shop for Taxes · Open a Business Bank Account
abroad, it is usually most profitable to buy damaged bikes, repair.
Furthermore, Mr. Doe expects that the business will sell 8 to 12 motorcycles per month, each with an average purchase price of $7,000 to $8,000. The business
The Business Plan for Your Motorcycle Store! Start Your Own Motorcycle Shop. Visit. Save. More like this. Service & Bike Fit | Giant Store Bristol Giant
Motorcycle parts in Dumalag. ... committed to its valued customers. ELMER F.
Using the free business plan template tool to create a business plan for an a Motorcycle Repair Shop · Step 1. Enter your business information · Step 2. Entering