Accounting/Buisness Plan term paper 13998

Accounting term papers
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were it say my name add yours Peaks and CreeksIncorporation or Business Form Peaks and Creeks is a sole proprietorship format of business form because it is a small and easily run business. I will not have a limited liability setup because of my internet business doesn't have a store front, therefore no one will hurt themselves entering or exiting my business and won't sue me for negligence. I also won't be borrowing very much money so there is very little risk of going bankrupt and I won't be carrying much if any stock my merchandise will not become overstocked. Ownership Paul Emerson Reid will be the owner, operator , manager and sole employee of Peeks and Creeks. Research Team All past, present and future research will be conducted by myself, Paul Reid. Legal and Accounting Due to the size of my business and the lack of employees and contracts I do not believe lawyers will be necessary. As for the accounting I do not plan on making a large business as well as a very large profit so most of the books will be relatively simple to keep track of. Banking I plan on staying with the same financial institution that I am currently with the O' Leary Central Credit Union because I do not need a very large loan and they can provide me with a small loan at fairly low interest for this sort of small business venture. Company History My company hasn't yet started out yet so the history is non-existent. The ProductProduct Description My service is supplying consumers with outdoor sporting equipment for affordable prices. Product History Outdoor equipment in the past has always been very highly priced and my business is going to make an effort to make it more affordable to consumers. Product Pricing We are going to try and have the most competitive prices for very high quality outdoor sporting equipment. The MarketMarket Niche My product(s) is/are focused at outdoor enthusiasts who want high quality outdoor sporting equipment at affordable, competitive prices.Market Research According to the latest statistics internet shopping is supposed to rise 75 billion dollars by the year 2002. I also ed John Clarke co-owner of The Trail Shop , Nova Scotia's number one outdoor sporting equipment store and he recommended only going into this business if it was a warehouse type format of business which doesn't carry much stock because sporting equipment is very trendy and stuff goes in and out of style so quickly if you get stuck with leftover stock it will be with you for eternity. Customer Profile Double Income No Kids because they have a lot of spending power and are focused on living healthy and living forever. Total Market Size The market is quite large due to it's online availability anyone can surf on in to my page and my 800 number ads in sporting magazines will help me gain a larger slice of the market. Market Growth My outdoor sporting business is definitely a sunrise business because of the large growth in eco- tourism and outdoor sporting. Market Penetration The first three years in business should hopefully help me achieve .5% of the internet outdoor sporting goods market because large outdoor sporting goods companies make up only 25% of the market while 75% is small businesses like my own. Proposed Distribution My method of sales would be direct distribution via the internet and I will carry very little stock, my business would act more as a middle man between the large manufacturing companies and the consumers. Sales Support I will attend trade shows to promote my business as well as a method to find high quality products to sell. The internet will become clogged with banners and advertisements for my company in return I will give the web page authors store credits and/or discounts. I will also advertise in Canadian Geographic and Mountain Bike Action magazines. Warranties We service what we sell, the customer pays the postage. Aftermarket There would be very little aftermarket because we would sell mostly big ticket items but there would be the odd promotional gift. Competition Most of my competition are severely overpriced and provide a less then adequate service over the internet because they focus mainly on their store front operation. Without the burden of a store front I have more time to answer phones and work on upgrading my web page. Competition will also help us keep our prices reasonable. Manufacturing and Operations Geographical Location My location doesn't really affect my business much because I don't have a store and my business is simply an internet 800 number business but due to the fact that the postal service is horrible everything will be sent courier.

Facilities Required My house ( my mother's house) will be my business' headquarters with my bedroom being my office with my computer in there and the basement will act as the warehouse. Warehousing The basement will act as the warehouse where anything needing to be shipped will be temporarily stored. Machinery and Equipment I do not require any equipment because anything that isn't assembled at the plant you assemble at home for shipping purposes Financial InformationSee Appendix Strategic Plan and TimetableImmediate Objectives Within the next year I plan on selling 40 big ticket items ( priced between 800$ and 3000$) as well as contracting six major companies including K2,Specialized , Rossignal, Giant and a few that I am still deliberating over. Intermediate and Long- Term Objectives After I have worked out most of the kinks of a my new business I hope to enter the clothing market and sell more smaller items (helmets , climbing equipment etc.) which would help me procure a larger customer base. Timetable - 4 months I hope to sell 5-10 big ticket items - 12 months I hope to sell 35-40 big ticket items -18 - 26 months get into the business of selling large orders of clothing. -36 months start selling more lower priced items -5 years perhaps put out a catalogue -5 years move out of my house into a true warehouse -7 years buy mold and make custom small water crafts Projections Sales Projections Within the next year the market should increase by 25% giving me an extra 1.5% increase in the internet market. I hope to sell 40 big ticket items in my first year making about 6,000$- 8,000$ profit. Then the next year I hope to increase my market by 2% earning 8,000$ - 12,000$ profit. Financial Projections I should break even after my 5th or 6th sale because I am putting very little money into this project. This business is starting mostly as a second job then hopefully in 5 years time becoming my principle source of income. Economic BenefitsCreation of Exports I expect to sell most of my goods to Americans who want to get a high value for their dollar. I expect to sell 55% of my sales internationally. Disclaimer-The information set forth herein is believed by the company to be reliable; it must be recognized , however, that projections and predictions as to the company's future performances are necessarily subject to a high degree of uncertainty and no warranty of such projections is expressed or implied hereby. Appendix Cash Flow Within the next year the market should increase by 25% giving me an extra 1.5% increase in the internet market. I hope to sell 40 big ticket items in my first year making about 6,000$- 8,000$ profit. Then the next year I hope to increase my market by 2% earning 8,000$ - 12,000$ profit. Income Statements Peeks and Creeks Outdoor Sporting Equipment For the six months ending December 7th 1999Revenue: Profit Earned 4,500$Expenses:800 number 1,500$Internet 180Advertisements 600Web page 135 Total Expenses 2,415 Net Income 2,085$ Balance Sheet Peeks and Creeks Outdoor Sporting Goods As at June 7th 2000 ASSETS LIABILITIESCash $6,500 Accounts Payable $2,415Computer 1,200 Total Liabilities $2,415 OWNER'S EQUITY Paul Reid, Capital 5,285 Total Liabilities andTotal Assets $7,700 Owner's Equity $7,700

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