Kingfishers retail Fly Shop offers supplies, guided tours, fishing/hunting logs and other services to Anglers from all over. We are centrally positioned in the middle this popular area, along Highway frontage of one of the busiest Highways. We are an ideal base camp, meeting place and location for success.
Ausable Wilfff and Brassie Nymph are now the new owners.
Our competitive edge is huge. Our unique customer “interest points” and our excellent location give us an advantage in advertising. We are experts in fly fishing these rivers and can stock the best supplies as well as offer expert advice to our customers so that they can really enjoy their fishing vacations. Our welcoming and supportive attitude towards even novice fisherman will turn first-time visitors into repeat customers. We also offer lodging at affordable rates. We are conveniently located between four major blue-ribbon rivers and the famous Trout River. The keys to our success lie in our great location, the ambiance of our store, and most importantly, our attitude.
This plan will outline what the company needs to launch a successful venture and how it plans to do it. It shows that even using conservative projections, the company will have positive cash flows, tremendous gross margins of over 50%, and steady/solid growth. We will show a modest profit in the first year, and our profits increase steadily. The projections are based primarily on the past performance and profit potential of the business as it was run by its previous owner. These conservative projections show that we will outperform the industry in almost every aspect.
Sixteen thousand dollars has been contributed by the owners to finance the purchase and renovation of the business. We are also seeking a 10-year loan of $513,000, secured with the owners’ collateral (3 houses), at an 8% interest rate.
1.1 Objectives
To bring the business back on track, we have several key objectives. We must achieve these goals in order to maximize revenue and profitability today. These are our goals to achieve this:
- Through advertising and web presence, double the number clients who visit the door in the first year and increase customer traffic each year by 20% for five year.
- Remodeling the retail space to increase floor sales by 30% and re-merchandising products in flow patterns will make it more customer- and ‘#8220’-friendly.
- To take full advantage of all revenue sources in the geographic area by offering Hunting products to the substantiated large number of hunters in the area during the fall and winter months, increasing revenue by at least 25% the first year, 33% the second year, and 40% the third year.
- Book minimum 125 trips using independent contracted guides and 1 employed guide the first year, 250 the second and third years using independently contracted guides. 300+ will be booked using independently hired and 1-2 employed Kingfishers Outfitters’ License guides. We can also rent 2-3 drift boats out to anglers who do not want professional guides. This will help us increase revenue and gain market share.
- To gain market share and increase revenue by offering quality lodging at affordable rates in the most attractive location for hunters and anglers. We would accomplish this by building 5 custom log cabins the first year, and adding one cabin per year for three years starting in Year 3. This will allow us to increase both lodging and product sales revenues.
1.2 Mission
To provide an Angler’s and Outdoorsman’s shop where the customer is the priority and arrogance is left at the door… where patience is a practice and everyone we meet is a friend… where questions are answered without demeaning glances, and cold stares are unheard of…
Where you are invited to stop by for a cup and a chat, rather than being asked for money and then escorted out. Kingfishers aims to provide Anglers & Hunters with the right equipment and knowledge and make them return time and again.
1.3 Keys to Success
There are four key keys to success in the retail Fly Shop or Hunting Store business:
- Our central location is within minutes of five major Trout Rivers as well as 4,000 acres of public land. We are located along a major highway that links Yellowstone National Park to Glacier National Park. Also, it is the highway that leads directly to one of the state’s top tourist attractions.
- Quality/Variety Of Products and Services: Both anglers & hunters can find top-quality, budget-priced goods here. We also offer guide services, boat rental, lodging, and boat rentals. We also offer products and services unique to this shop.
- Atmosphere This store is situated in a rustic log building that represents our state. It offers a warm and spacious atmosphere, which is conducive to stress-free selling.
- Visibility/Marketing: Kingfishers is located on one of the busiest highways in the southwest portion of our state. The store is visited by 3000-4000 vehicles each day in the spring, summer, fall months. We will use both passive (billboards etc) and active (direct mail, commercials etc) advertising to draw customers into the store from both in-state, and out of state.
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