Electric Bikes Case Study 2022

Running head: ELECTRIC BIKES
Formulating a Business Plan for the Launch of Electric Bikes
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Executive summary
Electric bikes are a booming business concept. The startup ventures find this an easy-to-go
option to make profits. This study serves a similar purpose. It does so in the context of a
proposed startup venture "Electric Bikes”. The study with the help of a business model canvas
and a business plan identifies the potential opportunities and challenges for the startup. This new
venture needs to be careful with the rising market competition. On the other hand, there are good
opportunities in people who are self-motivated to such bikes. The major success factor can be
how the owner of this venture manages to explore a wide array of entrepreneurial skills.

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Table of Contents
Introduction......................................................................................................................................3
Assumptions....................................................................................................................................3
Discussion........................................................................................................................................4
Skills needed to emerge a successful entrepreneur......................................................................4
Using a business model template.................................................................................................5
Justifying the elements in the business model.............................................................................6
Formulating a business plan......................................................................................................10
The business model, and sustainability and growth of the Electric Bikes.................................12
Conclusion.....................................................................................................................................13
References......................................................................................................................................14
Appendices....................................................................................................................................16
Appendix 1: Feasibility Analysis...............................................................................................16
Appendix 2: Business Model canvas.........................................................................................22

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Introduction
Startup ventures are good ways to address industry-based problems or utilize untouched
opportunities. However, not all startups become successful. There may be reasons for it;
however, much possibly this could be due to their incapability to run the startups efficiently.
What factors define efficiency should be clearly understood to entrepreneurs, so that, the
conversion rate for success is increased. This study is also on a similar topic as it discusses the
elements of a business plan to be used to facilitate and run the venture shortly (Barringer &
Ireland, 2019). The concept is a response to a growing demand for electric bikes. The importance
of electric bikes will be explained in places where it is suitable.
Assumptions
Assumptions will communicate the purpose behind this startup venture. On a broader
aspect, the assumption behind this innovative idea is that it is a good replacement to non-electric
bikes. Non-electric bikes are amongst the transport modes, which boost the CO2 content in the
air. The CO2 content in the air is on constant growth and the other hand, the political debates on
how to control this are also on a rise (Zehr, 2016). Such scenarios have created a situation where
entrepreneurs like the one who owns this proposed “Electric Bikes” to use their innovative
intelligence to bring something meaningful and refreshing to customers. The purpose of profit-
making is attached with all such ideas; however, in any way, such ideas are good to the
environment as well as to the society (Corner, Singh & Pavlovich, 2017).

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Discussion
This section discusses the actual idea using a business model canvass. Later on, it
formulates a business plan showing how related things will be managed. In the end, it gives
assumptions on how electric bikes can race to business sustainability.
Skills needed to emerge a successful entrepreneur
Entrepreneurs usually are highly excited for the innovative ideas, which they have
identified and developed using their skills and certain process to reach it. Very few of them do
possess the skills needed to manage a successful establishment of the venture and to run it
longer. However, those who have these rare qualities in them they only taste the success (Ratten,
2016). Studies on the entrepreneurship have identified a few necessary skills for an entrepreneur.
These are (Kraus, Ribeiro-Soriano & Schüssler, 2018):
 Practical skills
Being practical, entrepreneurs can deal with a situation by adopting a relevant strategy for it.
Practicality is required in devising an innovative idea, constructing a business plan and
effectively conducting the processes related to implementation. Practicality lets entrepreneurs
identify the needs and the necessities of a situation. It helps to understand the significance of
setting goals for a new venture. It helps to organize capabilities and generate business knowledge
required to run a venture.
 Time management

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While entrepreneurs need to possess the practical skills they should also be good in time
management skills. Entrepreneurs will be tested for time management skills in various related
situations such as priority planning, and explaining and executing the milestones identified for
the business growth.
 Creativity
Creativity is an inseparable element from an entrepreneur. Entrepreneurs must be good at being
creative. Creativity is needed to identify the most attractive business idea. It is also helpful in
identifying ways to manage problems and utilize resources to produce the best effect.
 Interpersonal skills
Entrepreneurs can never succeed with their innovative business plans unless they are good for
their peers also. The professional relationship with those who work for entrepreneurs is a must-
have skill for the entrepreneurs. By having a positive and trusted relationship with their peers, an
entrepreneur can drive their people in a problem situation and encourage them to work extra.
 Courage to take risks
There will be situations when taking calculated risks will become a necessity. A situation such as
criticism in public for a product-related issue will require entrepreneurs to take quick decisions to
ensure that there is no further damage done to the business and the society as well.
Using a business model template
The business model template or canvas helps to plot and identify activities to be
performed to start up a new venture. A business model canvas as proposed by (Weber & Jung,