Owned by Carl Wilkinson
description
Transcript of Owned by Carl Wilkinson
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Owned by Carl Wilkinson
Owned by Carl Wilkinson IV
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NATURE OF BUSINESS
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Ownership and Licenses It is a start-up business at a freestanding
building
The ownership is a S-cooperation
Limited liability
Will need a Federal Firearms License Business license Retail License
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Fee for License : $200
Good for 3 years
APPLICATION FOR A PENNSYLVANIA LICENSE TO SELL FIREARMS
http://www.atf.gov/forms/download/atf-f-5310-12.pdf
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Hours Monday-Friday: 9 a.m. to 8 p.m.
Saturday: 9 a.m. to 5 p.m.
Sunday: Closed
Holidays: Closed
Compete with competitors
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Business Description Retail and Service store
sell firearms and restore old or broken Firearms
Allow test firing of firearms
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Business Mission Sell Firearms , Accessories, Ammunition
Restore old firearms
Educate people about firearms
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What we sell Rifles Shotguns Pistols Air soft Guns Paintball guns Crossbows Accessories Restoration services Range to test fire weapons Hunting and fishing Licenses Co2 filling station
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Consultants needed
•Lawyer
•Accountant
•Insurance agent
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https://www.showcase.com/property/5439-Babcock-Boulevard/Pittsburgh/Pennsylvania/69742
$16/SF for each Year
$16* 2,700 SF = $43,200 for the whole year
$3,600 per month
Term:1-20 yrs
Visibility to main road.
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Layout
Of the
store
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Organization Plan
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Why I will be successful Bachelor Degree in Business
Knowledgeable about firearms
hunter and gun collector
There is a demand for guns and restoration services
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Employees needed Sales representatives # needed: 2
Sell firearms and accessories Keep store clean and organized Help customers on Firing Range
Restoration worker # needed: 1 Fix broken Firearms Restore older Firearms Give advice on how to maintain Firearms
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Job Specification FormCompany: Gunsmoke Rate of Pay: $7.25-$8.25Job title: Sales Rep.Supervisor: Carl Wilkinson (owner)
QualificationsEducation: Hunters Safety course, high school diploma, Firearms Safety CourseExperience: Hunter (not required), previous job in sales (not required)Skills: Know how to work some firearms, SalesmanshipTraining Provided: Will teach: How to sell firearms, Teach about Firearms in Stock, Range safety through courses and shadowing
Job ResponsibilitiesMain Job: Sell Firearms and accessoriesOther Duties: •Keep store clean and organized• Help customers on Firing Range •Bore-sight firearms
Number of Work Hours per Week:Minimum: 30 Hours Maximum: 40 Hours
Work Schedule•Mon- Fri: 5-7 Hours per week 9 a.m. to 8 p.m.•Sat: 9 a.m. to 5 p.m.•Sun: ClosedWeekly: 30-40 Hours per week
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Monthly Wages Sales Reps (2): $7.25/hr $1,700/ Month For Both : $3,400
Restoration Worker: $25/hr $2,500/ Month
Total Monthly Wages: $4,200
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Hiring Process Local Ranges, Colleges, High Schools
Review Applications
Interview Potential employees
Background/Drug test
Hire
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Marketing
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Pricing Strategy Cost Plus Pricing
Makes price reasonable
still gives a profit
Security of higher prices
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Potential Customers
Age: 25-40Gender: Male
Socio-economic: Middle to Upper class
Ethnic: WhiteAllegheny county
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How will people see My business
Good quality Items=higher prices
more knowledge on products then competitors
Friendly workers
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Competitors Dunham's- Firearms, Accessories, Ammunition No Firing Range, decent quality
Dicks- Firearms, Accessories, Ammunition No Firing Range, Higher prices
Wal-Mart- Air soft and Paintball guns, and supplies
Low Quality, No range
Online Retail Stores- Firearms, accessories
Cant Test, don’t know until you get it, shipping
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Grand Opening Flyers passed out to local Schools,
shooting ranges
Uncover Billboard
Giveaway of 1 Rifle and 1 shotgun (Raffle)
Local Radio station (Y108)
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Come visit us at:5439-Babcock Boulevard, Babcock Square or call: 412-587-48671
Billboard
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Now opening!GunSmoke: Shop, Range Restoration
We offer• Quality Firearms and accessories•A private range• Co2 Filling station•Hunting and Fishing Licenses•Restoration services•And much more
• Call us at• 412-587-GUNS(4867)
• Or visit us at• 5439-Babcock Boulevard,
Babcock Square0
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FINANCIAL PLAN
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Source For Markup http://www.atf.gov/forms/firearms/
http://www.defensivecarry.com/forum/defensive-carry-guns/13595-what-mark-up-guns.html
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Gunsmoke
Equipment List
Note: List any Equipment needed for start-up
Required Equipment for Start Up Amount Total Resource
Technology
Computer(s) $ 500.00 dell.com
Printer(s) $ 120.00 best buy
Phone(s) $ 120.00 best buy
Web Page $ 200.00 websitehomework.com
Cash Register(s) $ 360.00 http://www.crdw.com
Total Technology Cost $ 1,300.00
Equipment
Tools for restoration $ 4,000.00 Brownells.com
Cleaning Tools $ 300.00 Brownells.com
bore sighter $ 250.00 Brownells.com
Total Equi;pment Cost $ 4,550.00
Furniture & Fixtures
Glass Display Case (5) $ 2,000.00 storesupply.com
Display case locks (5) $ 15.00 storesupply.com
Floor Display Shelves (12) $ 2,400.00 storesupply.com
Floor Display Aisle Unit (6) $ 1,800.00 storesupply.com
Total Furniture Cost $ 6,215.00
Other Assets
Total Cost of Other Assets $ -
TOTAL COST OF EQUIPMENT $ 12,065.00
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COST OF INVENTORYFirst Month: $31,200
Second Month: $32,136
Third Month: $33,100.08
Fourth Month: $34,093.08
Fifth Month: $35,115.87
Sixth Month: $36,169.35
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Gunsmoke
Start Up Costs
Note: Required Start-up Funds for New Business
Required Start-Up Funds Amount TotalsFixed Assets
Technology $ 1,300.00
Equipment $ 4,550.00
Furniture and Fixtures $ 6,215.00
Other Fixed Assets $ -
Total Fixed Assets $ 12,065.00
Start-up Costs (one-time)
Legal and Accounting Fees $ 1,000.00
Licenses $ 1,300.00
Rent Deposit $ 3,600.00
Utility Deposit $ 700.00
Other one-time costs $ -
Total Start-up One-time Costs $ 6,600.00
TOTAL START-UP COSTS $ 18,665.00
Note: Copy from Income StatementOperating Expenses One-Month
Cost of Goods Sold $ 31,200.00
Owner's Yearly Salary $ 4,583.00
Wage Expense $ 5,900.00
Rent Expense $ 3,600.00
Advertising Expense $ 960.00
Supplies Expense $ 200.00
Utilities Expense $ 700.00
Cell phone & Internet $ 100.00
Insurance Expense $ 300.00
Total Operating Capital $ 47,543.00
Six-Month Operating Expenses + One-time Costs $ 285,258.00
Total Start-up Funds Required $303,923.00
**Start-up Funds + Six-Month Operating Expenses
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Gunsmoke
Income Statement
For Month Ended
June July August September October November
Revenue from Sales $ 48,000.00 $ 49,440.00 $ 50,923.20 $ 52,450.90 $ 54,024.42 $ 55,645.16
Avg. Customers/Day 10
Avg. Purchase Price $ 200.00
Days open per month 24
Cost of Goods from Sales $ 31,200.00 $ 32,136.00 $ 33,100.08 $ 34,093.08 $ 35,115.87 $ 36,169.35
Avg. Industry Markup 35%
Gross Profit $ 16,800.00 $ 17,304.00 $ 17,823.12 $ 18,357.81 $ 18,908.55 $ 19,475.80
Operating Expenses:
Owner's Yearly Salary $ 55,000.00 $ 4,583.33 $ 4,583.33 $ 4,583.33 $ 4,583.33 $ 4,583.33 $ 4,583.33
Wage Expense $ 5,900.00 $ 5,900.00 $ 5,900.00 $ 5,900.00 $ 5,900.00 $ 5,900.00
Rent Expense $ 3,600.00 $ 3,600.00 $ 3,600.00 $ 3,600.00 $ 3,600.00 $ 3,600.00
Advertising Expense $ 960.00 $ 988.80 $ 1,018.46 $ 1,049.02 $ 1,080.49 $ 1,112.90
Supplies Expense $ 200.00 $ 200.00 $ 200.00 $ 200.00 $ 200.00 $ 200.00
Utilities Expense $ 700.00 $ 700.00 $ 700.00 $ 700.00 $ 700.00 $ 700.00
Cell phone & Internet $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00
Insurance Expense $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00
Loan Payment $ 1,842.00 $ 1,842.00 $ 1,842.00 $ 1,842.00 $ 1,842.00 $ 1,842.00
Total Operating Expense $ 18,185.33 $ 18,185.33 $ 18,185.33 $ 18,185.33 $ 18,185.33 $ 18,185.33
Net Income $ (1,385.33) $ (881.33) $ (362.21) $ 172.48 $ 723.21 $ 1,290.47
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NET INCOME FOR FIRST 6 MONTHS
Month 1: $ (1,385.33)
Month 2: $ (881.33)
Month 3: $ (362.21)
Month 4: $172.48
Month 5: $ 723.21
Month 6: $1,290.47
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LOAN INFORMATIONLoan Amount: $303,923
Loan Term: 20 years at 4% interest
Monthly Loan Cost: $1,842