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Sporting Goods Store Business Plan Example
Below is our sporting goods store business plan template and sample plan created using what we consider the best free ai business plan generator:
I. Executive Summary
Company Overview
Sport Gear Co. is the newest sporting goods store in Jefferson City, MO, offering a comprehensive selection of sports equipment, athletic apparel, footwear, and fitness equipment. As a locally owned and operated business, we are dedicated to filling the gap in high-quality local sporting goods availability. Our extensive range of products caters to athletes and fitness enthusiasts, providing everything needed for various sporting activities, gym workouts, and outdoor adventures. Located in the heart of Jefferson City, we are committed to enhancing the active lifestyles of our local community with our convenient and accessible store.
Success Factors
Our success at Sport Gear Co. stems from our founder’s extensive experience in the sporting goods industry and our ability to offer a wide range of products that cater to different sporting and fitness activities. Since our establishment as an S Corporation on January 4, 2024, we have developed a strong brand identity, secured a prime location for our store, and positioned ourselves as the go-to one-stop-shop for sporting goods in Jefferson City. Our commitment to quality and community engagement are key drivers behind our confidence in the continued success of our business.
Industry Analysis
The sporting goods store industry is highly competitive and deeply influenced by consumer trends towards health and fitness. A significant shift towards personalized and home-based fitness routines, coupled with a growing interest in outdoor activities, has expanded the market for sports equipment and athletic apparel. The industry’s success is also tied to the innovation and quality of products. As consumers become more health-conscious and interested in maintaining an active lifestyle, retailers that can offer a broad range of high-quality, specialized products are well-positioned to capitalize on these trends.
Customer Analysis
Our target customers are athletes and fitness enthusiasts of all ages in Jefferson City, MO, who prioritize quality and variety in their sporting goods. They range from amateur to professional athletes, outdoor adventurers, fitness regulars, and those new to active lifestyles looking for reliable, high-performance gear. Understanding their diverse needs and preferences is crucial to our strategy, allowing us to curate a selection that appeals to individuals committed to sports, fitness, and outdoor activities.
Competitive Analysis
Direct competitors include local and national sporting goods stores, as well as online retailers. However, our competitive advantages lie in our founder’s industry experience, our wide product range that serves various fitness and sporting activities, and our strong community engagement and brand identity. These factors set us apart in Jefferson City’s market, enabling us to offer unmatched value and convenience to our customers.
Marketing Plan
At Sport Gear Co., we offer an extensive range of sports equipment, athletic apparel, footwear, and fitness equipment designed to meet the varied needs and preferences of our customers. Our pricing strategy is competitive, offering high-quality products at accessible price points to cater to a broad customer base. Our promotions plan includes targeted social media campaigns, local community events, and partnerships with local sports teams and fitness centers to build brand awareness and drive foot traffic to our store. By leveraging these platforms and community engagement, we aim to build a loyal customer base and establish ourselves as the premier sporting goods destination in Jefferson City.
Operations Plan
Our key operational processes encompass inventory management, customer service, and community engagement activities. We focus on maintaining a well-stocked, diverse inventory that reflects current trends and customer needs. Training our staff to provide exceptional service is another cornerstone of our operations. We have outlined milestones that include expanding our product range, launching online sales, and hosting community sporting events to further entrench our brand in the local community.
Management Team
The management team at Sport Gear Co. comprises individuals with extensive experience in retail, sporting goods, and business management. Our founder’s previous success in running a sporting goods store lays a solid foundation for our operations, while the collective expertise of our team ensures we are equipped to navigate the challenges of the retail industry and capitalize on growth opportunities.
Financial Plan
To achieve our growth goals, Sport Gear Co. requires significant investment in inventory, marketing, and store improvements. Our financial plan is designed to support these areas, ensuring we can offer a wide product range, engage effectively with our target market, and provide a shopping environment that meets and exceeds customer expectations.
Summary
Below is an overview of our expected financial performance over the next five years:
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | |
---|---|---|---|---|---|
Revenues | $1,854,983 | $2,008,632 | $2,175,007 | $2,355,163 | $2,550,242 |
Direct Expenses | $611,344 | $642,489 | $675,220 | $709,620 | $745,772 |
Gross Profit | $1,243,639 | $1,366,142 | $1,499,786 | $1,645,543 | $1,804,470 |
Gross Profit (%) | 67% | 68% | 69% | 69.9% | 70.8% |
Other Expenses | $97,085 | $100,030 | $103,065 | $106,192 | $109,414 |
EBITDA | $1,146,554 | $1,266,112 | $1,396,720 | $1,539,350 | $1,695,055 |
Depreciation | $37,000 | $37,000 | $37,000 | $37,000 | $37,000 |
Amortization | $0 | $0 | $0 | $0 | $0 |
Interest Expense | $34,000 | $34,000 | $34,000 | $34,000 | $34,000 |
Income Tax Expense | $376,443 | $418,289 | $464,002 | $513,922 | $568,419 |
Net Income | $699,110 | $776,822 | $861,718 | $954,427 | $1,055,636 |
II. Company Overview
Sport Gear Co. is the newest Sporting Goods Store in Jefferson City, MO. As a fresh addition to the local retail landscape, we take pride in being a locally owned and operated business. The absence of high-quality local sporting goods stores in the area inspired us to fill this gap, ensuring that our neighbors have access to the best in sports equipment, athletic apparel, footwear, fitness equipment, and outdoor gear all under one roof.
At Sport Gear Co., we offer an extensive selection of products to meet the diverse needs of athletes and fitness enthusiasts alike. Whether you’re gearing up for your next game, going for a run, hitting the gym, or embarking on an outdoor adventure, we have everything you need to perform your best. Our range includes top-quality sports equipment for a variety of activities, the latest in athletic apparel to keep you comfortable and stylish, footwear that provides the support and performance you need, and fitness equipment that helps you maintain your workout routine at home. Plus, we haven’t forgotten the outdoor enthusiasts, with a selection of gear that’s ready for any adventure.
Located right here in Jefferson City, MO, Sport Gear Co. is dedicated to serving our local community. We understand the needs of our fellow residents and are committed to providing products and services that enhance their active lifestyles. Our central location makes it convenient for customers to visit us and find everything they need to stay active and healthy.
Our confidence in Sport Gear Co.’s success is rooted in several key factors. Firstly, our founder brings a wealth of experience from previously running a successful sporting goods store, ensuring that we understand the market and our customers’ needs. Additionally, our comprehensive range of products sets us apart from the competition by catering to a wide spectrum of sporting and fitness activities. This breadth of offerings positions us as a one-stop-shop for active lifestyle enthusiasts in Jefferson City.
Since our founding on January 4, 2024, Sport Gear Co. has achieved several important milestones as a S Corporation. We’ve developed a distinctive logo and company name that reflect our brand’s commitment to quality and community. Finding the perfect location for our store was a crucial step in making our vision a reality, and we’re proud to have established ourselves in a spot that’s both accessible and welcoming to our customers.
III. Industry Analysis
The Sporting Goods Store industry in the United States is thriving, with a current market size of over $47 billion. This industry encompasses stores that primarily retail new sporting goods, including equipment and apparel for various sports and outdoor activities.
Market research indicates that the Sporting Goods Store industry is expected to continue growing steadily in the coming years. The market is forecasted to reach a size of over $50 billion by 2023, driven by factors such as increasing health consciousness among consumers and the popularity of sports and recreational activities.
Recent trends in the Sporting Goods Store industry, such as the rise of athleisure wear and the growing demand for eco-friendly and sustainable products, bode well for Sport Gear Co. These trends align with Sport Gear Co.’s mission to provide high-quality, eco-friendly sporting goods to customers in Jefferson City, MO, positioning the company for success in this competitive market.
IV. Customer Analysis
Below is a description of our target customers and their core needs.
Target Customers
We will target local residents, focusing on families and individuals interested in sports and outdoor activities. This demographic is likely to include parents purchasing sporting goods for their school-aged children and young adults engaged in recreational sports. Our marketing efforts will emphasize community engagement to build strong local brand loyalty.
We will also cater to high school and college athletes who require specialized gear for their sports. This segment will benefit from our selection of high-performance equipment and apparel. By forming partnerships with local schools and universities, we will position ourselves as the go-to retailer for student athletes.
In addition, we will target fitness enthusiasts and gym-goers seeking quality workout gear and accessories. This group will appreciate our curated selection of fitness equipment, apparel, and nutritional supplements. Hosting in-store events and fitness workshops will help us connect with this active customer base.
Tourists visiting Jefferson City for its outdoor attractions will also be a key customer segment. They will find value in our hiking, camping, and water sports products. Strategic online marketing and partnerships with local tourism boards will drive this segment to our store.
Customer Needs
Customers in Jefferson City expect access to high-quality sports equipment and athletic apparel. They seek reliable products that enhance their performance and ensure safety during physical activities. Sport Gear Co. can cater to these needs by offering a carefully curated selection of top-tier brands and products.
Local athletes and fitness enthusiasts have a demand for specialized gear that accommodates a variety of sports. From running shoes to weightlifting gloves, customers look for equipment that is durable and tailored to their specific activities. Sport Gear Co. can fulfill this need by providing a diverse range of sporting goods.
Convenience and knowledgeable customer service are also crucial for customers. They appreciate a shopping environment where staff are well-informed and can offer expert advice on product selection. Sport Gear Co. can meet this expectation by training employees to assist customers effectively and providing an easy-to-navigate store layout.
Additionally, customers value competitive pricing and promotional offers. They want quality products without breaking the bank. Sport Gear Co. can attract and retain customers by offering regular discounts, loyalty programs, and price matching services.
V. Competitive Analysis
Direct Competitors
Sport Gear Co.’s competitors include the following companies:
Famous Footwear
Famous Footwear offers a wide range of footwear, including athletic shoes, casual shoes, and dress shoes for men, women, and children. They also sell various accessories such as socks, insoles, and shoe care products. Their price points range from budget-friendly options to mid-tier brands.
The company’s annual revenue is substantial, driven by its extensive network of stores and online sales. Famous Footwear operates numerous locations nationwide, including several in Missouri.
They primarily target families, athletes, and fashion-conscious consumers. The company’s key strength lies in its diverse product range and strong brand partnerships, while a notable weakness is the intense competition from other footwear retailers.
Hibbett Sporting Goods
Hibbett Sporting Goods specializes in athletic apparel, footwear, and equipment. They cater to a variety of sports, including basketball, football, baseball, and fitness activities. The store offers products from well-known brands such as Nike, Adidas, and Under Armour.
Hibbett’s pricing is competitive, with options ranging from affordable to premium. The company generates significant revenue through its physical stores and online platform.
With locations across the United States, including several in Missouri, Hibbett serves athletes, sports teams, and fitness enthusiasts. Their strengths include a strong brand portfolio and knowledgeable staff, while a potential weakness is their reliance on the athletic market, which can be seasonal.
Tractor Supply
Tractor Supply offers a diverse range of products, including agricultural supplies, livestock feed, and outdoor power equipment. They also provide a selection of workwear, footwear, and outdoor recreational gear. Their prices vary widely, from budget-friendly items to higher-end equipment.
The company enjoys robust revenue streams due to its broad product offerings and extensive store network. Tractor Supply operates over 1,900 stores across the United States, with several locations in Missouri.
They serve a wide customer base, including farmers, ranchers, and outdoor enthusiasts. The key strengths of Tractor Supply are its extensive product range and strong community presence. However, a notable weakness is that their primary focus on rural markets may limit their appeal to urban customers.
Competitive Advantages
At Sport Gear Co., our wide range of sporting and fitness products sets us apart from the competition. We cater to various interests, from team sports like soccer and basketball to individual activities such as running, yoga, and weightlifting. This extensive selection helps our customers participate in their favorite activities and maintain an active lifestyle. Our knowledgeable staff is always ready to assist customers in finding the right equipment and apparel, ensuring they have the best possible experience.
Additionally, we pride ourselves on fostering a community-oriented atmosphere. Our store regularly hosts events, workshops, and local sports meetups, creating a hub for fitness enthusiasts in Jefferson City. We focus not only on selling products but also on building relationships with our customers, which strengthens our loyalty and brand reputation. Through these efforts, we can offer a personalized shopping experience that stands out in the competitive sporting goods market.
VI. Marketing Plan
Our marketing plan, included below, details our products/services, pricing and promotions plan.
Products, Services & Pricing
Sport Gear Co. offers a comprehensive range of products and services that cater to the diverse needs of sports enthusiasts. Customers can find high-quality sports equipment that includes gear for popular sports such as basketball, soccer, baseball, and tennis. The average selling price for sports equipment ranges from $20 for individual items like balls and gloves to $500 for more specialized equipment like bats and racquets.
Athletic apparel is another key offering at Sport Gear Co. The store provides a variety of clothing options designed for performance and comfort, including jerseys, shorts, leggings, and compression wear. Prices for athletic apparel generally range from $15 for basic shirts to $80 for high-performance gear and branded items.
The store also features an extensive selection of footwear suitable for various sports and fitness activities. Customers can choose from running shoes, cleats, basketball shoes, and cross-training footwear. The average price for footwear at Sport Gear Co. ranges from $50 to $150, depending on the brand and type of shoe.
Fitness equipment is available to help customers achieve their health and wellness goals. The store stocks items such as dumbbells, kettlebells, resistance bands, and yoga mats. For those looking for larger investments, treadmills, stationary bikes, and weight benches are also available. Prices for fitness equipment can range from $10 for smaller items to $1,000 for high-end machines.
Outdoor gear is another important category at Sport Gear Co. Customers can find equipment and apparel for outdoor activities such as hiking, camping, and fishing. This includes tents, backpacks, fishing rods, and camping stoves. Prices for outdoor gear vary widely, with smaller items starting at $15 and more specialized equipment going up to $300.
Promotions Plan
Sport Gear Co. employs a range of promotional methods to attract customers and build a strong presence in Jefferson City, MO. By leveraging online marketing, we increase our visibility and reach a broader audience. Our online marketing strategy includes a comprehensive social media presence on platforms such as Facebook, Instagram, and Twitter, where we engage with customers, share updates on new products, and promote special offers. Additionally, we invest in search engine optimization (SEO) to ensure our website ranks highly on search engines, making it easier for customers to find us.
We also utilize email marketing to keep our customers informed about the latest arrivals, exclusive discounts, and upcoming events. By building a robust email list, we create a direct line of communication with our customers, fostering loyalty and repeat business.
In-store promotions play a crucial role in our marketing efforts as well. We regularly host events such as product demonstrations, workshops, and fitness classes to engage the local community and showcase our products. Offering limited-time discounts and seasonal sales creates a sense of urgency, encouraging customers to visit our store and make purchases.
Partnerships with local sports teams, schools, and fitness centers further enhance our visibility and reputation within the community. By sponsoring events and providing gear for local teams, we build strong relationships and increase brand recognition.
Additionally, we invest in targeted advertising through Google Ads and social media platforms to reach potential customers who are actively searching for sporting goods. This ensures that our ads are seen by those most likely to convert into customers.
By combining these promotional methods, Sport Gear Co. successfully attracts and retains customers, establishing ourselves as the go-to sporting goods store in Jefferson City, MO. Our multi-faceted approach ensures that we reach our target audience through various channels, driving traffic to our store and increasing sales.
VII. Operations Plan
Our Operations Plan details:
- The key day-to-day processes that our business performs to serve our customers
- The key business milestones that our company expects to accomplish as we grow
Key Operational Processes
To ensure the success of Sport Gear Co., there are several key day-to-day operational processes that we will perform:
- Inventory Management: Maintain accurate inventory levels through regular stock checks, reordering popular items promptly, and managing supplier relationships effectively.
- Customer Service: Provide exceptional customer service by training staff to be knowledgeable about products, assisting customers with their needs, and resolving any issues promptly.
- Sales Transactions: Process sales efficiently using a reliable point-of-sale system, ensuring smooth and quick transactions for customers.
- Merchandising: Keep the store visually appealing by organizing products neatly, creating attractive displays, and ensuring the store is clean and welcoming.
- Marketing and Promotions: Develop and implement marketing strategies, including social media campaigns, email newsletters, and in-store promotions to attract and retain customers.
- Financial Management: Monitor daily sales and expenses, manage cash flow, and maintain accurate financial records to ensure the store’s profitability.
- Staff Management: Schedule staff shifts, provide ongoing training and development, and ensure a positive work environment to maintain high morale and productivity.
- Customer Feedback: Collect and analyze customer feedback to make informed decisions on improving products, services, and overall customer experience.
- Compliance and Safety: Ensure the store complies with all local regulations and safety standards, including maintaining proper documentation and conducting regular safety checks.
- Technology Maintenance: Keep all technological systems, including POS systems and inventory software, updated and functioning smoothly to prevent disruptions in operations.
- Vendor Relations: Negotiate with suppliers to secure favorable terms, manage delivery schedules, and maintain strong relationships to ensure a steady supply of products.
- Community Engagement: Engage with the local community through sponsorships, events, and partnerships to build a loyal customer base and enhance the store’s reputation.
Milestones
Sport Gear Co. expects to complete the following milestones in the coming months in order to ensure its success:
- Secure Initial Funding: Obtain the necessary capital through loans, investors, or grants to cover startup costs, inventory, and initial operating expenses.
- Lease and Prepare Retail Space: Find a suitable location in Jefferson City, MO, negotiate a lease, and renovate the space to meet the needs of the sporting goods store.
- Obtain Required Permits and Licenses: Secure all necessary business licenses, sales tax permits, and any other regulatory approvals required to legally operate in Missouri.
- Source and Stock Inventory: Establish relationships with suppliers and vendors, and stock the store with a wide range of sporting goods that cater to the local market.
- Launch Marketing Campaign: Develop and execute a comprehensive marketing strategy that includes online, social media, and local advertising to create awareness and attract customers.
- Grand Opening Event: Host a grand opening event to introduce the store to the community, including promotional activities and special offers to drive initial traffic and sales.
- Hire and Train Staff: Recruit, hire, and train employees to provide excellent customer service and ensure smooth store operations.
- Establish Customer Loyalty Program: Implement a customer loyalty program to encourage repeat business and foster customer loyalty.
- Achieve $15,000/Month in Revenue: Reach a consistent monthly revenue of $15,000 through effective sales strategies, customer engagement, and inventory management.
- Analyze and Optimize Operations: Continuously monitor business performance, gather customer feedback, and make necessary adjustments to improve efficiency, sales, and customer satisfaction.
VIII. Management Team
Our management team has the experience and expertise to successfully execute on our business plan.
Management Team Members
Sport Gear Co. management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:
Stella Morales, President
Stella Morales has a storied history of success in the sporting goods industry. She has effectively managed and grown a sporting goods store business in the past, demonstrating her capability in the field. Stella brings a wealth of knowledge in retail management, customer relationships, and strategic planning to Sport Gear Co. Her extensive experience and proven leadership make her an invaluable asset to the company, driving the team towards achieving sustainable growth and market leadership.
IX. Financial Plan
Summary
Below is an overview of our expected financial performance over the next five years:
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | |
---|---|---|---|---|---|
Revenues | $1,854,983 | $2,008,632 | $2,175,007 | $2,355,163 | $2,550,242 |
Direct Expenses | $611,344 | $642,489 | $675,220 | $709,620 | $745,772 |
Gross Profit | $1,243,639 | $1,366,142 | $1,499,786 | $1,645,543 | $1,804,470 |
Gross Profit (%) | 67% | 68% | 69% | 69.9% | 70.8% |
Other Expenses | $97,085 | $100,030 | $103,065 | $106,192 | $109,414 |
EBITDA | $1,146,554 | $1,266,112 | $1,396,720 | $1,539,350 | $1,695,055 |
Depreciation | $37,000 | $37,000 | $37,000 | $37,000 | $37,000 |
Amortization | $0 | $0 | $0 | $0 | $0 |
Interest Expense | $34,000 | $34,000 | $34,000 | $34,000 | $34,000 |
Income Tax Expense | $376,443 | $418,289 | $464,002 | $513,922 | $568,419 |
Net Income | $699,110 | $776,822 | $861,718 | $954,427 | $1,055,636 |
Funding Requirements/Use of Funds
To accomplish our growth goals, Sport Gear Co. needs $340,000 in funding. Key uses of this funding will be as follows:
Capital Investments | |
---|---|
Location Buildout | $100,000 |
Furniture | $20,000 |
Equipment | $50,000 |
Machines | $10,000 |
Computers and Software | $5,000 |
Non Capital Investments | |
---|---|
Working Capital | $50,000 |
Initial Rent/Lease | $10,000 |
Staff Salaries for the First 3 Months | $60,000 |
Initial Marketing and Advertising | $20,000 |
Supplies | $10,000 |
Insurance | $5,000 |
Financial Projections
5 Year Annual Income Statement
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
Revenues | ||||||
Revenues | $1,854,983 | $2,008,632 | $2,175,007 | $2,355,163 | $2,550,242 | |
Total Revenues | $1,854,983 | $2,008,632 | $2,175,007 | $2,355,163 | $2,550,242 | |
Direct Costs | ||||||
Direct Costs | $611,344 | $642,489 | $675,220 | $709,620 | $745,772 | |
Total Direct Costs | $611,344 | $642,489 | $675,220 | $709,620 | $745,772 | |
GROSS PROFIT | $1,243,639 | $1,366,142 | $1,499,786 | $1,645,543 | $1,804,470 | |
GROSS PROFIT % | 67% | 68% | 69% | 69.9% | 70.8% | |
Other Expenses | ||||||
Salaries | $72,814 | $75,023 | $77,299 | $79,644 | $82,060 | |
Marketing Expenses | $6,067 | $6,251 | $6,441 | $6,637 | $6,838 | |
Rent/Utility Expenses | $6,067 | $6,251 | $6,441 | $6,637 | $6,838 | |
Other Expenses | $12,135 | $12,503 | $12,883 | $13,274 | $13,676 | |
Total Other Expenses | $97,085 | $100,030 | $103,065 | $106,192 | $109,414 | |
EBITDA | $1,146,554 | $1,266,112 | $1,396,720 | $1,539,350 | $1,695,055 | |
Depreciation | $37,000 | $37,000 | $37,000 | $37,000 | $37,000 | |
Amortization | $0 | $0 | $0 | $0 | $0 | |
EBIT | $1,109,554 | $1,229,112 | $1,359,720 | $1,502,350 | $1,658,055 | |
Interest Expense | $34,000 | $34,000 | $34,000 | $34,000 | $34,000 | |
PRETAX INCOME | $1,075,554 | $1,195,112 | $1,325,720 | $1,468,350 | $1,624,055 | |
Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
Taxable Income | $1,075,554 | $1,195,112 | $1,325,720 | $1,468,350 | $1,624,055 | |
Income Tax Expense | $376,443 | $418,289 | $464,002 | $513,922 | $568,419 | |
NET INCOME | $699,110 | $776,822 | $861,718 | $954,427 | $1,055,636 | |
Net Profit Margin (%) | 37.7% | 38.7% | 39.6% | 40.5% | 41.4% |
5 Year Annual Balance Sheet
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
ASSETS | ||||||
Cash | $791,964 | $1,595,491 | $2,482,963 | $3,466,800 | $4,206,460 | |
Other Current Assets | $159,225 | $172,413 | $186,694 | $196,263 | $212,520 | |
Total Current Assets | $951,190 | $1,767,905 | $2,669,657 | $3,663,063 | $4,418,981 | |
Intangible Assets | $0 | $0 | $0 | $0 | $0 | |
Acc Amortization | $0 | $0 | $0 | $0 | $0 | |
Net Intangibles | $0 | $0 | $0 | $0 | $0 | |
Fixed Assets | $185,000 | $185,000 | $185,000 | $185,000 | $185,000 | |
Accum Depreciation | $37,000 | $74,000 | $111,000 | $148,000 | $185,000 | |
Net fixed assets | $148,000 | $111,000 | $74,000 | $37,000 | $0 | |
Preliminary Exp | $0 | $0 | $0 | $0 | $0 | |
TOTAL ASSETS | $1,099,190 | $1,878,905 | $2,743,657 | $3,700,063 | $4,418,981 | |
LIABILITIES & EQUITY | ||||||
Current Liabilities | $60,079 | $62,972 | $66,006 | $67,984 | $71,265 | |
Debt outstanding | $340,000 | $340,000 | $340,000 | $340,000 | $0 | |
Total Liabilities | $400,079 | $402,972 | $406,006 | $407,984 | $71,265 | |
Share Capital | $0 | $0 | $0 | $0 | $0 | |
Retained earnings | $699,110 | $1,475,933 | $2,337,651 | $3,292,079 | $4,347,715 | |
Total Equity | $699,110 | $1,475,933 | $2,337,651 | $3,292,079 | $4,347,715 | |
TOTAL LIABILITIES & EQUITY | $1,099,190 | $1,878,905 | $2,743,657 | $3,700,063 | $4,418,981 |
5 Year Annual Cash Flow Statement
FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
---|---|---|---|---|---|---|
CASH FLOW FROM OPERATIONS | ||||||
Net Income (Loss) | $699,110 | $776,822 | $861,718 | $954,427 | $1,055,636 | |
Change in Working Capital | ($99,145) | ($10,296) | ($11,246) | ($7,590) | ($12,975) | |
Plus Depreciation | $37,000 | $37,000 | $37,000 | $37,000 | $37,000 | |
Plus Amortization | $0 | $0 | $0 | $0 | $0 | |
Net Cash Flow from Operations | $636,964 | $803,526 | $887,471 | $983,836 | $1,079,660 | |
CASH FLOW FROM INVESTMENTS | ||||||
Fixed Assets | ($185,000) | $0 | $0 | $0 | $0 | |
Intangible Assets | $0 | $0 | $0 | $0 | $0 | |
Net Cash Flow from Investments | ($185,000) | $0 | $0 | $0 | $0 | |
CASH FLOW FROM FINANCING | ||||||
Cash from Equity | $0 | $0 | $0 | $0 | $0 | |
Cash from Debt financing | $340,000 | $0 | $0 | $0 | ($340,000) | |
Net Cash Flow from Financing | $340,000 | $0 | $0 | $0 | ($340,000) | |
Net Cash Flow | $791,964 | $803,526 | $887,471 | $983,836 | $739,660 | |
Cash at Beginning of Period | $0 | $791,964 | $1,595,491 | $2,482,963 | $3,466,800 | |
$791,964 | $1,595,491 | $2,482,963 | $3,466,800 | $4,206,460 |
What Is a Sporting Goods Store Business Plan?
A sporting goods store business plan is a document that outlines the strategies you have developed to start and/or grow your sporting goods store business. Among other things, it details information about your industry, customers and competitors to help ensure your company is positioned properly to succeed. Your sporting goods store business plan also assesses how much funding you will need to grow your business and proves, via your financial forecasts, why the business is viable.
Why You Need a Business Plan for your Sporting Goods Store Business
A business plan is required if you are seeking funding for your sporting goods store business. Investors and lenders will review your plan to ensure it meets their criteria before providing you with capital. In addition, a sporting goods store business plan helps you and your team stay focused. It documents the strategies you must follow and gives you financial projections you should strive to achieve and against which you can judge your performance.