Burly Skate Shop, a skateboarding, apparel and shoe shop, caters to young people in the Salem/Suburb area. We offer apparel, shoes and accessories in a high-end, industrial-chic environment. We will showcase the most recent trends and products in our store. We are determined to be this area’s top-rated retail store and will continue to strive for that goal.
We are the first and only skateboard shop in the city of Suburb. Our market research within Suburb has indicated that local skaters are frustrated with current retailers in the nearest cities. Our goal is to capture 80% of the market and create a central hub for shopping activity for skateboarding residents as well. Burly will be located at 1234 Skate Rd N, Suburb, Oregon. This location places us squarely in the center of the residential and social areas frequented by our target market. We feel that this is an essential location for our initial success as well as long-term growth.
Burly will be owned and managed by Ollie and Nollie Casperflip. Nollie, the merchandising director, was the founder and executive director of operations for a foster-care advocacy and family advocacy group for the last 18 years. Nollie holds two Masters Degrees and taught at a local college for 9 years. Ollie, who is both a marketing and personnel manager, has been the Executive director of administrations for the foundation for the past 11 year. Ollie Casperflip holds a Masters Degree in Administration, and has been an avid skateboarder since the age of 14. Both of the owners have vast experience working with people aged 12-25. In addition to raising their own son (a former skateboarder), the Casperflips’ work in the foster-care agency brought them into daily contact with children or parents in that age range.
Based on market research, our conservative sales forecasts are expected to yield a net loss of $6,000 in its first year. The profit will grow to nearly $20,000 in years three and four. To support this plan and to set it into motion, the owners contribute $5600 in cash and another $1200 in shortterm assets. We are seeking an additional $50,000 in short-term loans, to be repaid over three years, to cover our start-up requirements.
1.1 Mission
Burly’s mission is to provide the highest quality, cutting edge, and newest merchandise in an industrial-chic atmosphere where they can meet, socialize, and learn from each other about the latest trends and moves. Our goal is to increase skateboarding culture by hosting safe and drug-free events.
Success Keys 1.2
The primary keys to success for Burly are:
- Sell products that offer the most recent styles in boards, clothing, equipment to our clients, and allow them to have a positive association with skateboarding culture.
- PROVIDE customized services such a grip application in-store, and tools for fixing and applying newly purchased parts. Customers can be retained to make repeat purchases and to send their friends.
- COMMUNICATE WITH our customers through newspaper advertising, print magazines, and postcard mailings. Promote skateboarder events and bring in semi-pro and pro skaters sponsored and sponsored by manufacturers. Marketing and sales will also be possible through our website.
- ESTABLISH a highly visible, accessible, friendly, and interactive website for all of our products and services.
- Ensure that daily management practices reflect Burly’s mission to ensure that a business that is growth-oriented and succeeds is maintained.
1.3 Objectives
Burly has established three firm objectives it wishes to achieve in the next five years:
- Four stores located in superb retail areas by the end of year five.
- Gross Margin of 45% or more.
- Net after-tax profits above 15% of sales