Owned by Carl Wilkinson
Owned by Carl Wilkinson IV
NATURE OF BUSINESS
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
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
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
Business Description Retail and Service store
sell firearms and restore old or broken Firearms
Allow test firing of firearms
Business Mission Sell Firearms , Accessories, Ammunition
Restore old firearms
Educate people about firearms
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
Consultants needed
•Lawyer
•Accountant
•Insurance agent
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.
Layout
Of the
store
Organization Plan
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
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
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
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
Hiring Process Local Ranges, Colleges, High Schools
Review Applications
Interview Potential employees
Background/Drug test
Hire
Marketing
Pricing Strategy Cost Plus Pricing
Makes price reasonable
still gives a profit
Security of higher prices
Potential Customers
Age: 25-40Gender: Male
Socio-economic: Middle to Upper class
Ethnic: WhiteAllegheny county
How will people see My business
Good quality Items=higher prices
more knowledge on products then competitors
Friendly workers
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
Grand Opening Flyers passed out to local Schools,
shooting ranges
Uncover Billboard
Giveaway of 1 Rifle and 1 shotgun (Raffle)
Local Radio station (Y108)
Come visit us at:5439-Babcock Boulevard, Babcock Square or call: 412-587-48671
Billboard
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
FINANCIAL PLAN
Source For Markup http://www.atf.gov/forms/firearms/
http://www.defensivecarry.com/forum/defensive-carry-guns/13595-what-mark-up-guns.html
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
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
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
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
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
LOAN INFORMATIONLoan Amount: $303,923
Loan Term: 20 years at 4% interest
Monthly Loan Cost: $1,842