BizWings Startup Plan & Expenses

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BizWings Startup Plan & Expenses

  1. 1. Business Model and Start Up Expenses Ryan Agnew MAN 4801
  2. 2.  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.
  3. 3.  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
  4. 4. Startup ExpensesLegal $10,000.00Logo design $500.00Initial website design $2,000.00Insurance $30,000.00Payroll $90,000.00Rent/Security deposit $10,000.00Computer and office equipment $3,500.00Training $5,000.00Pre-opening marketing $4,000.00Office supplies $1,000.00Consultants $-Misc and other $10,000.00 Total Expenses $166,000.00 Startup AssetsCash in the bank $25,000.00Starting inventory $-Other current assets $10,000.00Office furniture $2,000.00Signage $4,000.00Leasehold improvements $2,000.00Plant and equipment $1,000,000.00Land $-Other assets $- Total Assets $1,043,000.00 Recurring CostsRent $10,000.00Utilities $3,000.00Payroll $7,500.00Inventory $1,000.00Marketing $1,500.00All other $1,000.00Number of months 12 Total Recurring Expenses $288,000.00Total Startup Costs $1,497,000.00
  5. 5.  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.
  6. 6.  Utilizing a 3-year break-even plan and turning a profit after 4 years. $2,500,000.00 $2,000,000.00 $1,500,000.00 $1,000,000.00 Expenses $500,000.00 Revenue Profit $0.00 -$500,000.00 Year One Year Two Year 3 Year 4
  7. 7.  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.
  8. 8.  Utilize online surveys such as Surveybuilder or SurveyMonkeys. Build automatic points of distribution for survey information combined with mobile technology.

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