Kingfishers, a retail Fly Shop, offers guided tours and supplies as well as fishing/hunting cabins for Anglers and Hunters who visit our state from around the world. We are centrally situated in the heart of this popular area, at Highway frontage on one the busiest roads. We are an ideal base camp, meeting place and location for success.
Ausable and Brassie Wulff are the new owners. They purchased a modestly successful fly shop, renovated it, re-packaged it and turned it into a great destination spot for fly fishing enthusiasts across the south.
Our competitive edge is tremendous. We have a unique advantage in advertising due to our location, advertising techniques and customer ‘interest points’. Because we are experts at fly fishing these rivers, we can stock the right supplies and give expert advice to customers so they can enjoy their fishing vacations. Even novice fisherman can be converted by our welcoming and supportive attitude. Our lodging is not only affordable, but we also have some of the most exclusive and luxurious lodging in the region. We are close to 4 major blue-ribbon rivers as well as the world’s most popular Trout River. Our excellent location, the ambience of our store, but most importantly our attitude, are the keys to success.
This plan will explain what the business requires to start a successful venture. It also explains how we plan to accomplish it. It shows that even if we use conservative projections, there will be positive cash flows and a huge gross margin of over 50% as well as steady/solid growth. In the first year we will make a small profit, but over time our profits will grow steadily. Our projections are calculated based on past performance under the previous owner. He freely admits that he hasn’t maximized the profits potential of his business. These projections are conservative and will allow us to surpass industry standards in almost all areas.
In order to fund the purchase, renovation, and restocking of the business, the owners are contributing $64,000. We also seek a 10-year loan for $513,000 secured by the owners’ collateral (3 houses) at 8% interest.
1.1 Objectives
To return the business to its past success and maximize the revenue and profitability, there are several key objectives that we must accomplish. To accomplish this, our objectives are:
- Advertisement and Web presence will double the number and quality of customers who enter the building each year. In addition, customer traffic will increase by 20% each year for five consecutive years.
- Remodeling retail space, re-merchandising products and improving flow patterns are ways to increase floor sales.
- To maximise all income sources in the local area by offering hunting products during fall and winter to the confirmed large number of hunters. This increases revenue by at most 25% the first year, 33% second year, and 40% third year.
- To reinstate the guide service for anglers, booking a minimum of 125 trips the first year using independently contracted guides and 1 employed guide, 250 the second year by using independently contracted guides and 1-2 employed guides, and 300+ the third year by using independently contracted and 1-2 employed guides under the Kingfishers Outfitters’ License. We will also increase market share and revenue by renting 2-3 boats to anglers who don’t want professional guide services.
- To gain market share and increase revenue by offering quality lodging at affordable rates in the most attractive location for hunters and anglers. For the first five years, we would build 5 log cabins and add one each year until Year 3. As each component complements the other, we can increase revenue from guide trips/product sales as well as lodging.
1.2 Mission
Provide an Outdoorsman’s and Angler’s Shop where the customer is first and foremost… where patience is encouraged and everyone we meet is a friend… Where questions can be answered without being demeaning and where cold stares are not tolerated…
where you are asked to stay for a cup of coffee rather than just asked for your money and shown the door. Kingfishers is committed to providing Anglers as well as Hunters with the equipment they need, the knowledge they require, and experiences that make them want return.
1.3 Keys for Success
The four main keys to success in retail fly shop and hunting store business are:
- Located in Centrally located within minutes from 5 major Trout Rims and 4,000+ acres of public land. We are situated on the main highway that connects Yellowstone National Park to Glacier National Park. It also leads you to one of the most popular tourist attractions in our state.
- Quality/Variety Of Products and Services: Both anglers & hunters can find top-quality, budget-priced goods here. We also offer guide services, boat rental, lodging, and boat rentals. We also offer services and products that are exclusive to this shop.
- Atmosphere We have built our store in a log cabin that was once a log house. It is a symbol of our state and what it stands for. It is spacious and warm, with a comfortable atmosphere that encourages stress-free sales.
- Visibility/Marketing: Kingfishers is located on one of the busiest highways in the southwest portion of our state. In the spring, winter and fall months, the store is visited daily by between 3000-4000 vehicles. Passive (billboards, etc.) and active (directmail, commercials,sales etc. advertising will be used to attract customers from within and outside of the state.