Thread: Business Plan
11-06-2008, 08:19 PM #1
Hey guys. For school I need to be in some competition thing for business crap. I need to make a business plan. My business is going to be a watercraft dealership, but not only a dealership. What I want is sea-doos, ski-doos and sport boats. Also I wanna sell performance parts and also do repairs and those other types of things. This competition is basically presenting your business like you would to a bank trying to get a loan. One of the things is how much you want your loan to be. My question for anyone out there who happens to know a thing or two about a dealership is how much money would it take to start something like this? I have no idea what I should "ask" for as far as a loan goes. Any tips on presenting or little things I should add to my plan would be greatly appreciated too.
Thanks for any help.
11-06-2008, 09:39 PM #2
- Join Date
- Nov 2007
- Odessa, TX
11-07-2008, 11:06 PM #3
11-09-2008, 01:44 PM #4
11-10-2008, 07:01 PM #5
So im making my business plan and have a few questions. If anyone has made a business plan then maybe you could answer these few questions:
1. How long should the description of my business be?
2. What is an Executive Summary
3. What is a customer profile
4. Isn't a business strategy and Marketing analysis kinda the same thing?
Sorry for all these questions, you guys are the only ones I can think of who could possibly help
11-10-2008, 07:56 PM #6
First, I'd remove the watercraft dealership in a sort... I'd rather open a used skis or ski's with blown engines...etc (dirt cheap). I'd open my business with a salvage yard too, start thinking of ways to scrounge around (call some local dealerships to buy older boats/salvage). I'd also get in wholesale on pit bikes, I bought one for $650 (125cc) and everyone that has ridden it loves it... those would be cheap to stock if you bought in bulk... 5 to 7K, nice return.
For performance parts once you set up as a business call around and then offer to be a retail outlet. Or get them off the salvage skis's and sell those!
You want product, but inventory control/stock costs ,more cash... Gotta have a semi decent show room/cust waiting area... describe the place, that could take space up...
I think openening a "brand new watercraft" shop would be more difficult than going more of a repair/refubished ski reapair sales/pit bike sales and parts. Then ebay the rest.
Easier budget calculation, cheaper to start, less cash... more info to semi sidetrack the above products to bring in customers.... and end the paper like you put a bunch of thought into it.
11-10-2008, 08:25 PM #7
well this is just a theoretical business plan for a competition, basically my dream business.
11-16-2008, 02:11 PM #8
Sorry to bother again, but I need to do some research. I need to do some research on customers. Its winter here so nobody would be at a boat launch. I need to do like an interview on my projected customers. I know you wouldn't be customers of mine, but you guys are the type I am targeting. I totally understand if you don't want to fill this out, but it would be greatly appreciated. If you don't feel comfortable posting on the thread you could just PM me the answers.
6. What you would spend on a "toy":
1) $2,000 - $5,000
2) $5,000 - $7,500
3) $7,500 - $10,000
4) $10,000 - $12,500
5) $12,500 - $15,000
6) $15,000 +
7. How much you would Spend on after market parts:
1) $0 - $200
2) $200 - $500
3) $500 - $1,000
4) $1,000 - $1,500
5) $1,500 - $2,000
6) $2,000 - $3,000
7) $3,000 - $4,000
8 ) $4,000 - $5,000
Again, if you don't want to fill this out you don't have to, but it would be a lot of help to me and greatly appreciated. Just PM me answers if you don't want to reply on the thread.
O, and also, if anyone knows how to find the watercraft population in my area that would be really great too, I cant find it anywhere, ive googled everything
11-16-2008, 09:12 PM #9
11-16-2008, 10:26 PM #10
I have incorporated multiple times.
When dealing with banks you have to prove that you either have the amount your asking for in assets, liquid, or some type of worth. There's an addage that says banks will only lend if you already have. There's quite a few ways to get around this but on paper something has got to be there or they cannot approve you.
Most businesses fail within 3 years and the #1 reason is undercapitalization. The second reason is mis-management of money and third is bad management. Find out what yor monthly nut will be (fixed expenses plus averaged variable expenses). Ask for your monthly nut x 36 + 10% cushion. Then present how the books and business will be flex-managed.
One thing I would input into your report is the heart of the entrepenuer. There's people that have accomplished great things in business with nothing. Entrepenuers are gamblers at heart and are willing to put it all in when they have that feeling (max out ccs, borrow, borrow, borrow, etc). While just having the entrepneur spirit will never get you approved for a loan, mentioning your anticipated sacrifices and gameness may be worth a few plugs in your report to make your presentation stand out.
Present yourself as the potential account with all the answers, confidence, and some personal points to make it real (your plan to live without drawing a salary for 3 years, etc).
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
By Shibby1485 in forum 4-Tec PerformanceReplies: 6Last Post: 11-13-2005, 01:52 PM
By Jeff C in forum Sea Doo Open DiscussionReplies: 6Last Post: 09-22-2005, 02:52 PM
By Snkypete in forum Sea Doo Open DiscussionReplies: 4Last Post: 06-27-2005, 06:30 PM
By Bambeezer in forum Sea Doo Open DiscussionReplies: 2Last Post: 06-27-2005, 05:03 PM
By MikeTrin in forum Sea Doo Open DiscussionReplies: 17Last Post: 05-24-2005, 08:13 PM