bizwings startup plan & expenses
DESCRIPTION
TRANSCRIPT
BIZWINGSBusiness Model and Start Up
ExpensesRyan AgnewMAN 4801
OBJECTIVES
Easy, affordable, private air travel for everyone in the Southeastern US.
Be the solution for those who need to travel over a 30+ radius for their work needs.
Offer top-notch service with excellent amenities in a comfortable, professional manner.
LIST OF STARTUP NEEDS Eclipse 500 Very Light (3) Staff
Ryan Agnew Ed Iaccobucci 3 Pilots 3 Mechanics
On-board refreshments Plane fuel, parts, etc. Hangar space rental/lease Airport gate rental/lease Government permits, regulations and taxes FAA clearance Marketing tools (ads, signage, social media placement) Insurance Flight tracking software Reservations software Internet access Landline telephone services Mobile telephone services Survey equipment Computer & Office Equipment
STARTUP COSTSStartup Expenses
Legal $10,000.00
Logo design $500.00
Initial website design $2,000.00
Insurance $30,000.00
Payroll $90,000.00
Rent/Security deposit $10,000.00
Computer and office equipment $3,500.00
Training $5,000.00
Pre-opening marketing $4,000.00
Office supplies $1,000.00
Consultants $-
Misc and other $10,000.00
Total Expenses $166,000.00
Startup Assets
Cash in the bank $25,000.00
Starting inventory $-
Other current assets $10,000.00
Office furniture $2,000.00
Signage $4,000.00
Leasehold improvements $2,000.00
Plant and equipment $1,000,000.00
Land $-
Other assets $-
Total Assets $1,043,000.00
Recurring Costs
Rent $10,000.00
Utilities $3,000.00
Payroll $7,500.00
Inventory $1,000.00
Marketing $1,500.00
All other $1,000.00
Number of months 12
Total Recurring Expenses $288,000.00
Total Startup Costs $1,497,000.00
STRATEGIES FOR SUCCESS
Locate and sell membership to individuals who travel more than 4 hours driving distance several times per week.
Utilize “test markets” in various areas to determine where core customer is located.
Conduct surveys at local and national airports to determine specific needs and desires of potential customers.
Man operations from non-brick and mortar headquarters to keep overheads low.
RETURNING A PROFIT
Utilizing a 3-year break-even plan and turning a profit after 4 years.
Year One
Year Two
Year 3
Year 4
-$500,000.00
$0.00
$500,000.00
$1,000,000.00
$1,500,000.00
$2,000,000.00
$2,500,000.00
ExpensesRevenueProfit
PERSONNEL/STAFFING
Form a partnership with Ed Iacobucci to ensure business success and limit payroll and liability expense.
During research and trial periods, Ryan Agnew will handle all operations and strategy decisions while Ed does fieldwork for surveys, test locations, etc.
Hire and man 3 planes initially for each trial location.
SURVEY & TEST STRATGIES
Utilize online surveys such as Surveybuilder or SurveyMonkeys.
Build automatic points of distribution for survey information combined with mobile technology.