Sample Business Plans -> Inline Skating Products
"Inline Skating Products" Business Plan:
1.0 Executive Summary
Business Ideas applicable for this business plan:
Shooting Range and Store
This business plan was originally published
5.0 Strategy and Implementation Summary
Our involvement in roller skating goes back 25+ years in Venice, California. We have the reputation and skill that has gained respect from some of the most skilled skaters. We remain close to the skating community through contact with the local skate shops and by giving lessons. Close contact with the public has put us in a unique position to be able to get feedback from skaters of all types on our products and ideas, designed for them.
The target client is usually an Architect Manager.
5.1 Value Proposition
At Pegasus Sports International our emphasis is on quality at a fair price. Our pricing is determined by the cost of production and customer demand, so we pace production by need.
Speed skating's demographics, as shown in Sections 4.1 and 4.2, show affluent and prime candidates for our higher ticket items. We develop our products for all skaters, but some of our products are more segment-specific, such as our SkateSails which are more for the experienced to expert skater. For example, the speed skating segment is only 1.5% of the entire market, but this is roughly 7 million skaters.
5.2 Competitive Edge
Our company's competitive edge exists because we are the only company addressing the needs that have resulted from the extensive sales of in-line skates. We wish to fill the need for items which could double the life of a pair of skates.
Accessories such as BladeBoots™ encourage people and make it more convenient to include skating into their lifestyles.
There are several other projects we are currently working on that will broaden our product line and open up our market even more. We will be more than glad to discuss in length some of our future confidential plans, upon request.
5.3 Marketing Strategy
The key to our marketing strategy is focusing on the speed, health and fitness, and recreational skaters. We can cover about 80% of the skating market since we produce products geared towards each segment.
The speed and fitness skaters are an average age of 34 years old with a salary of about $54,000/year and an average of two years of college. This is our SkateSail market. We are in the process of designing more advanced safety equipment that is well-suited for skate sailing, in the future.
Our BladeBoots™ and SkateAids are items that can be useful to all segments of the market.
5.3.1 Positioning Statement
We design our products for the skaters who depend on their skating products to be well-designed and practical. We want to help lengthen and improve the life of our customers' investment--their skates.
The present skate companies concentrate on new skate sales with no support for products already sold, and that is our forte.
5.3.2 Pricing Strategy
Pegasus Sports products are priced to encourage the customer to impulse buy, experiment, and repeat buy.
SkateSails are priced from $350 to $500. Lower-priced items are BladeBoots™ at $24.95 and SkateAids for $45.00.
5.3.3 Promotion Strategy
Our long-range goal is to gain enough visibility to expand the product line into other industries and other regions, and to generate inquiries from potential inventors. To do that we need $50,000, or a Line of Credit.
We also plan on promoting our goods at various skating races held throughout the country.
5.3.3 Distribution Strategy
We plan to enter the now extensive specialty skate shop market with SkateAid. We feel this is the competitive edge skate shops need to compete with the large chain discount distributors. The additional products, such as BladeBoots™ and SkateSails, should also help stimulate skate shop sales.
5.4 Sales Strategy
For now, our products are sold through our web site. This earns us full retail price.
In nine months, we will gear sales towards the skate shops with SkateAids. Through retail skate shops, we will increase our sales.
Visibility will be very important, and we will gain exposure at skate racing events. We will target our advertising through the major in-line skate magazines and on the Internet.
5.4.1 Sales Forecast
We feel that our sales forecasting is conservative. We will steadily increase sales as our advertising budget allows. Please refer to the Sales Forecast Chart in the Appendix portion of this plan.
5.4.2 Sales Programs
Our sales program consists of Internet advertising and skating magazine ads in order to target our market. On the Internet, banner advertising utilizing link exchange services and high search engine placement will be our primary method of selling.
We presently accept credit card orders through our website. We plan to capture the impulse buyer market, which makes up 80% of all Internet sales.
5.5 Strategic Alliances
Cooperation between Pegasus Sports International and the local skate shops in both Venice and Santa Monica, California, is very good. We hope that our growth will be mutual, since some of our products are designed for the skate shops.
Since Terry's Cafe in Santa Monica is situated in a parking lot, where skate sailing can be taught and SkateSails can be sold, this can be our home site where we also can arrange the skate sailing excursions
Sal M. Chavez will concentrate on sales and promotion, teaching skate sailing lessons in addition to overseeing product development.
Sandi M. Arnold will be in charge of production by making sure we have ordered the products needed to maintain a smooth production. Sandi will see to it that our orders will be filled and shipped to their destination.
Beth A. Laird will be in charge of the administrative functions. Her duties will be to run the office. Beth is also our Web Master and will maintain and update our website.
We will work as a team and help each other with all the work required for a smooth running company. Together, we will do whatever it takes to succeed.