BUMGT5928 Business Plan of Motorbike

Added on -2020-02-19

| BUMGT5928| 40 pages| 6683 words| 38 views

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Running head: BUSINESS PLAN OF MOTORBIKE RESTORATION AND CUSTOMIZATION
Business Plan of Motorbike Restoration and Customization
Name of the University:
Name of the Student:
Authors Note:
1BUSINESS PLAN OF MOTORBIKE RESTORATION AND CUSTOMIZATION
Table of Contents
1. Business Plan Summary.......................................................................................................4
1.1. The Business.....................................................................................................................4
1.2. The Market........................................................................................................................5
1.3. The Future.........................................................................................................................6
1.4. The Finances.....................................................................................................................6
2. The Business........................................................................................................................8
2.1. Business Details................................................................................................................8
2.2. Registration Details...........................................................................................................9
2.3. Business Premises.............................................................................................................9
2.4. Organization Chart..........................................................................................................10
2.5. Management and Ownership...........................................................................................10
2.6. Key Personnel.................................................................................................................11
2.7. Products/Services............................................................................................................11
2.8. Insurance.........................................................................................................................12
2.9. Risk Management............................................................................................................12
2.10. Legal Considerations.....................................................................................................13
2.11. Operations.....................................................................................................................13
2.12. Sustainability Plan.........................................................................................................13
2BUSINESS PLAN OF MOTORBIKE RESTORATION AND CUSTOMIZATION
3. The Market.........................................................................................................................14
3.1. Market Research..............................................................................................................14
3.2. Market Targets................................................................................................................14
3.3. Industry Analysis.............................................................................................................15
3.4. Company Customers.......................................................................................................16
3.5. SWOT Analysis...............................................................................................................17
3.6. Company Competitors.....................................................................................................17
3.7. Advertising and Sales......................................................................................................18
4. The Future..........................................................................................................................19
4.1. Vision Statement.............................................................................................................19
4.2. Mission Statement...........................................................................................................19
4.3. Goals/Objectives.............................................................................................................19
5. The Finances......................................................................................................................20
5.1. Key Objectives and Financial Review............................................................................20
5.2. Assumptions....................................................................................................................20
5.3. Start up Costs..................................................................................................................20
5.4. Balance Sheet Forecast....................................................................................................22
5.5. Profit and Loss Forecast..................................................................................................24
5.6. Expected Cash Flow........................................................................................................31
5.7. Break Even Analysis.......................................................................................................34
3BUSINESS PLAN OF MOTORBIKE RESTORATION AND CUSTOMIZATION
References..............................................................................................................................35
1. Business Plan Summary
1.1. The Business
The name of business that is proposed in India will be Motorbike restoration and
customization and the business will be carried out through being a sole trader. In the
business Motorbike restoration and customization are starting a new bike modification
company in which it will be modifying bikes. The customer will come to it and ask it about
these are the things that he needs in his bike like it may be modification in engine, design
modification or any other modification. In starting of the business, it will be just doing
designing and assembly part in our company and manufacturing part will be outsourced.
Later on as our business expands, then the manufacturing will be done in our company. The
company will be modifying them. It can be selling some of the parts are starting the business
in India. Business location of the new company will be in Delhi, India. The business was
initially commenced on November, 2015 in Australia. Business owner of the company is
Mike Nikelson sold his bikes business for opening a custom bike business focused on
modifying bikes in India (Barton, 2016). The owner has an experience of 5 years in running a
bikes shop business within Australia. The products and services offered by Motorbike
restoration and customization Company are described under:
Restoration and customary services- The company will give a wide scope of modifications
in a motorbike running from essential adjustments, for example, paint, composites and
4BUSINESS PLAN OF MOTORBIKE RESTORATION AND CUSTOMIZATION
headlamps to more perplexing and basic alteration that incorporates yet not restricted to
altering the motor details and streamlined parts of the vehicle. Likewise, it will be giving
helping aids to clients which are not ordinarily given in a motorbike. This can incorporate
sun based boards to make a cross breed motorbike which keeps running on both solar power
and fuel, a GPS highlight to enable the rider to explore effortlessly. In future, if the
innovation allows, a self-ruling driving knowledge can likewise be added to help the drivers
of exhaustion. This would not supplant a driver however it will be adequate to give a guide if
there should be an occurrence of fatigue.
Parts- Parts for the most part considers things or materials that are vital to proper function of
the bike. In addition to that, parts are presented with advantages and serve as extra charge
other than administration expenses. Parts, as crank sets, pedals, tires, derailleur or brakes, are
certain vital parts along with customization accessories. Other accessories for instance
spokes, headsets, chains, base sections, links and link lodgings are the maintenance, however
these might be sold to bikers who like to modify their bikes on their own (Yu & Wiklund,
2015).
1.2. The Market
Target Market
The college students are Motorbike restoration and customization Company’s fundamental
target market. There is a huge market for motorbike modification in India as there are a great
deal of bike aficionados. In the wake of doing some underlying exploration, New Delhi
would be the ideal place for the start up as it has promptly accessible extra parts, shabby
work, high populace and sufficient rivalry. (Béland, 2014).
College workers are another prime target market
5BUSINESS PLAN OF MOTORBIKE RESTORATION AND CUSTOMIZATION
Marketing Strategy
Motorbike restoration and customization have selected a business location in the
primary close off grounds in a business territory including the college Bookstore, a private
book shop, bank, bistros, cafés and mainstream watering gaps is perfect. The company gets
consistent, day by day visual introduction. Students and staff will throng the walkway outside
the company’s entryway and it can receive the rewards. The company’s closest rival is right
around a mile away. For the student consumer who is in a rush to reach college, Motorbike
restoration and customization is the quick answer for their necessities (Burlingham, 2016).
After that initially stopping ticket, Motorbike restoration and customization Company
is the principal bikes shop that is observed by any prospective consumer. Motorbike
restoration and customization Company is strategically placed when a biker gets a punctured
tire while transportation. Moreover, the company’s marketing strategy looks to streamline its
leverage of prime area. Motorbike restoration and customization Company needs college
population to consider it to remain their bikes shop, even its name indicates, Motorbike
restoration and customization. The company’s marketing strategy needs them to ensure it to
be an aspect of every day encounter and a shop they can focus on for brisk repair and support
benefit.
1.3. The Future
Vision of Motorbike restoration and customization ike Company is to delight target
clients through innovative services according to client prerequisite.
Business objectives set by Motorbike restoration and customization Company is
explained under:
6BUSINESS PLAN OF MOTORBIKE RESTORATION AND CUSTOMIZATION
Keep on providing the high caliber of offers and administrations that Motorbike restoration
and customization is known for.
Deal with a seamless transfer of possession.
Maintain a fiscally solid business along with maintaining the trust and support of other
individuals in help of business purchase (Vogel, 2016).
Repay start-up advance provided by relatives in first year.
Accomplish yearly and monthly deals equivalent to or superior to earlier year within
previous owner.
1.4. The Finances
INITIAL INVESTMENT:-
Particulars
Amount
Amount
Registration Cost:-
Business Registration
Charges 80
Domain Name & Logo
Registration Charges 60.00
License for Operation

2,100.00
Solicitor's Fees

5,000.00 7,240.00
Set-Up Cost:-
Security Deposit for Rented
Premises

27,000.00
Outsourcing Cost

50,000.00
Equipment

35,000.00
Furniture & Fixtures

60,000.00
Office Equipment

35,000.00

207,000.00
Operational Expenses:
Purchase of Supplies
7BUSINESS PLAN OF MOTORBIKE RESTORATION AND CUSTOMIZATION
8,000.00
Security Deposit for
Electricity

2,000.00
Telecommunication 900.00
Software Installation 250.00
Advertisement & Promotion

6,000.00
Stationery Items

1,000.00
Other Misc. Expenses 300.00

18,450.00
TOTAL INITIAL
INVESTMENT

232,690.00
Capital Contribution by
Partners:
Owner's contribution

50,000.00
Loan from Bank @2.47%
Interest p.a.

230,000.00
TOTAL CAPITAL

280,000.00
Balance Fund in Hand

47,310.00
2. The Business
2.1. Business Details
The products and services offered by Motorbike restoration and customization
Company are described under:
Restoration and customary services- The company will give a wide scope of modifications
in a motorbike running from essential adjustments, for example, paint, composites and
headlamps to more perplexing and basic alteration that incorporates yet not restricted to
altering the motor details and streamlined parts of the vehicle. Likewise, it will be giving

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