Burly Skate Shop is a new apparel, shoe and skateboarding shop that caters to the youth and young adults in the Salem/Suburb community. Our focus is to provide apparel, shoes, boards and accessories in an upper scale, industrial chic environment. Our store will exemplify the latest in cutting edge products and trends. We expect to be, and will strive to position ourselves as, the top retail store servicing this particular market.
We are the first and only skateboard shop in the city of Suburb. Our market research within Suburb has indicated that local skaters are frustrated with current retailers in the nearest cities. Our intentions are to obtain 80% market share and become a central hub of shopping activity for the local skateboarding population, as well as for others who would enjoy wearing the latest trends and fashions. Burly will be located at 1234 Skate Rd N, Suburb, Oregon. This location places us squarely in the center of the residential and social areas frequented by our target market. We believe that this location is critical to our initial success and long-term growth.
Burly will be owned and managed by Ollie and Nollie Casperflip. Nollie Casperflip, the merchandising manager, has been the Founder and Executive Director of Operations for a foster-care and family advocacy group for the past 18 years. Nollie holds two Masters Degrees and taught at a local college for 9 years. Ollie Casperflip, personnel and marketing manager, has been the Executive Director of Administrations for the same foundation for the past 11 years. Ollie Casperflip holds a Masters Degree in Administration, and has been an avid skateboarder since the age of 14. Both owners have extensive experience working with people in the age range of the customer base - 12-25. In addition to raising their own son (a former skateboarder), the Casperflips' work in the foster-care agency brought them into daily contact with children or parents in that age range.
Our conservative sales forecasts, based on solid market research, will yield a net profit over $6,000 in the first year, increasing to almost $20,000 in year three. To support this plan and set it in motion, the owners are contributing $5,600 in cash, and another $1,200 in short-term assets. We are seeking an additional $50,000 in short-term loans, to be repaid over three years, to cover our start-up requirements.
Burly's mission is to provide the highest quality, cutting edge, and newest merchandise in an industrial-chic atmosphere where they can meet, socialize, and learn from each other about the latest trends and moves. Our intention is to enhance the skateboard culture in our communities, by promoting drug-free and violence-free events in our communities.
The primary keys to success for Burly are:
Burly has established three firm objectives it wishes to achieve in the next five years: