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Owned by Carl Wilkinson Owned by Carl Wilkinson IV.

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Presentation on theme: "Owned by Carl Wilkinson Owned by Carl Wilkinson IV."— Presentation transcript:

1 Owned by Carl Wilkinson Owned by Carl Wilkinson IV

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3  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

4 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

5  Monday-Friday: 9 a.m. to 8 p.m.  Saturday: 9 a.m. to 5 p.m.  Sunday: Closed  Holidays: Closed  Compete with competitors

6  Retail and Service store  sell firearms and restore old or broken Firearms  Allow test firing of firearms

7  Sell Firearms, Accessories, Ammunition  Restore old firearms  Educate people about firearms

8  Rifles  Shotguns  Pistols  Air soft Guns  Paintball guns  Crossbows  Accessories  Restoration services  Range to test fire weapons  Hunting and fishing Licenses  Co2 filling station

9 Lawyer Accountant Insurance agent

10  $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.

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13  Bachelor Degree in Business  Knowledgeable about firearms  hunter and gun collector  There is a demand for guns and restoration services

14  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

15 Job Specification Form Company: Gunsmoke Rate of Pay: $7.25-$8.25 Job title: Sales Rep. Supervisor: Carl Wilkinson (owner) Qualifications Education: Hunters Safety course, high school diploma, Firearms Safety Course Experience: Hunter (not required), previous job in sales (not required) Skills: Know how to work some firearms, Salesmanship Training Provided: Will teach: How to sell firearms, Teach about Firearms in Stock, Range safety through courses and shadowing Job Responsibilities Main Job: Sell Firearms and accessories Other 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: Closed Weekly: 30-40 Hours per week

16  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

17  Local Ranges, Colleges, High Schools  Review Applications  Interview Potential employees  Background/Drug test  Hire

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19  Cost Plus Pricing  Makes price reasonable  still gives a profit  Security of higher prices

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21  Good quality Items=higher prices  more knowledge on products then competitors  Friendly workers

22  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

23  Flyers passed out to local Schools, shooting ranges  Uncover Billboard  Giveaway of 1 Rifle and 1 shotgun (Raffle)  Local Radio station (Y108)

24 Come visit us at: 5439-Babcock Boulevard, Babcock Square or call : 412-587-48671

25 Now opening! GunSmoke: Shop, Range Restoration We offer Quality Firearms and accessories A private range Co 2 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

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27  http://www.atf.gov/forms/firearms/ http://www.atf.gov/forms/firearms/  http://www.defensivecarry.com/forum/defe nsive-carry-guns/13595-what-mark-up- guns.html http://www.defensivecarry.com/forum/defe nsive-carry-guns/13595-what-mark-up- guns.html

28 Gunsmoke Equipment List Note: List any Equipment needed for start-up Required Equipment for Start UpAmountTotalResource 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) $ 2,000.00storesupply.com Display case locks (5) $ 15.00storesupply.com Floor Display Shelves (12) $ 2,400.00 storesupply.com Floor Display Aisle Unit (6) $ 1,800.00storesupply.com Total Furniture Cost $ 6,215.00 Other Assets Total Cost of Other Assets $ - TOTAL COST OF EQUIPMENT $ 12,065.00

29 First 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

30 Gunsmoke Start Up Costs Note: Required Start-up Funds for New Business Required Start-Up FundsAmountTotals Fixed 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 Statement Operating 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

31 Gunsmoke Income Statement For Month Ended June JulyAugustSeptemberOctoberNovember 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 Wage Expense $ 5,900.00 Rent Expense $ 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 Utilities Expense $ 700.00 Cell phone & Internet $ 100.00 Insurance Expense $ 300.00 Loan Payment $ 1,842.00 Total Operating Expense $ 18,185.33 Net Income $ (1,385.33) $ (881.33) $ (362.21) $ 172.48 $ 723.21 $ 1,290.47

32 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

33  Loan Amount: $303,923  Loan Term: 20 years at 4% inter est  Monthly Loan Cost: $1,842


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