Golden Dreams Bike Rental and Repair Store Team A David Dong Kelvin Manbir Amy Mohammad

Introduction Golden Dreams Bike Rental Owned by Adam Craig Nester’s Market Strip Mall Been in business for 1 year Amy

Main Problems Not enough clients during the winter season Lack of advertisements in central locations Limited variety of bikes Amy

Facts 80% rental capacity in June, July and August 50% in September and October 10% for rest of the year Currently have advertisements in: Pique and Whistler Question Free weekly papers Yearly cost: $5000 Manbir

Assumptions Dude Taylor stays employed at the store Technology is unchanged No other bike shops open in the area Manbir

Competitive Analysis Competition: Strengths: Large bike shop Located at Whistler Mountain Bike Park Caters to hotels and individuals Manbir

SWOT: Strengths Large inventory space Dude Taylor for bike repairs and maintenance Only bike store in the Nester’s Market Strip Mall Kelvin

SWOT: Weaknesses Currently have 2 broken bikes Limited capital for expansion Store hours can be revised Limited variety of bikes Kelvin

SWOT: Opportunities Rent town centre location More space and better car traffic Move to Function Junction Cater to local market and home owners Larger than current location Rent is lower, but may increase Close to new Whistler Creek development Kelvin

SWOT: Threats Weather leading to low demand Competition Winter season Competition Large bike shop If move to alternative locations: Higher rent New competition Kelvin

Target Market 16-30 year olds Male and female Sports-loving families Risk takers Health-conscious people Weekenders Mohammed

Recommendations Relocation Diversify products Promotion Mohammed

Relocation Advantages: Disadvantages: Bigger market (new target market) More inventory space Easier access Disadvantages: Higher expenses (i.e. rent) More competition Possibility of bankruptcy Mohammed

Diversify Products Advantages: Disadvantages More potential customers More stable revenue during winter season Make use of idle inventory space Disadvantages Don’t know if products will have market More competition (i.e. Ski shop) Need more staff to look over new products Mohammed

Promotion Advantages: Disadvantages: Reach and attract more customers Free advertisements on the web Can create free website for store Disadvantages: More costs for advertisements Some customers and markets are not responsive Mohammed

Solution Establish a new mission statement Diversify his products Provide new service to community for sports lovers (i.e. bike training) Diversify his products Have more variety of products for people of all experience levels i.e. beginners to experts Establish customer excellence i.e. more public events for bikers Dong

Plan of Action Product -Service-oriented -Establish customer excellence through training courses and public events Price -Set up a competitive price -Promotions for beginners -Discounts for regular clienteles (i.e. membership) Promotion More public events for bikers Bike training packages for beginners Setup a website Advertise on social media websites Place -Remain in the same location because there is sufficient amount of population Dong

Plan of Action Establish a mission statement Schedule a training program for new and beginner bikers Create public events for bikers (i.e. contests) David

Plan Action Setup a website and advertise on social media websites Have winter products available i.e. ski bikes, toboggan, sleds David

Course Concepts Diversification Market penetration STP SWOT Customer excellence Marketing mix David