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Open Monday-Friday: 11am-9pm Saturday-Sunday: 8am- 9pm Located at 10 Frontier Drive Gibsonia, PA 15044 Open Monday-Friday: 11am-9pm Saturday-Sunday: 8am-

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Presentation on theme: "Open Monday-Friday: 11am-9pm Saturday-Sunday: 8am- 9pm Located at 10 Frontier Drive Gibsonia, PA 15044 Open Monday-Friday: 11am-9pm Saturday-Sunday: 8am-"— Presentation transcript:

1 Open Monday-Friday: 11am-9pm Saturday-Sunday: 8am- 9pm Located at 10 Frontier Drive Gibsonia, PA 15044 Open Monday-Friday: 11am-9pm Saturday-Sunday: 8am- 9pm Located at 10 Frontier Drive Gibsonia, PA 15044 Owner: Alex Romoff

2 My personal skills and experience: 8 yrs. of playing lacrosse I played on 3 travel teams so I know a lot of coaches and players in the area Have been stringing sticks for 8 yrs. I understand and am in touch with the lacrosse culture and community My business will be successful because my commitment and loyalty to the lacrosse community that will power me to offer the most personal service as well as the best line of products offered in the Pittsburgh area. My potential customers are individual customers from the youth level of 8yr. olds to college and post graduate players +24yr. olds living in the Pittsburgh area. Lacrosse players are usually white middle to upper class. They will buy my products and services because lacrosse players regularly need new gear but other stores are either too expensive or do not offer a wide enough selection. I want my business to portray a wide selection, the best, most welcoming customer service and expertise, along with competitive prices.

3 Type of business Retail Enterprise status Start-up Legal form of organization Sole proprietorship List of products/services Lacrosse sticks (heads/shafts) Lacrosse equipment (helmets, pads) Lacrosse clothes Lacrosse stringing offered along with supplies Balls, Nets, accessories… ALL AT THE LOWEST PRICE POSSIBLE Why “Lax N’ At”? “Lax” is an abbreviation for lacrosse “N’ At” is a Pittsburgh expression that means “and other things”

4 10 Frontier Drive Gibsonia, PA 15044 500 sq. ft. Rent: $2,156.36/mo. Free Standing This location is favorable because Gibsonia is a neutral location for the broad lacrosse community in Northern Pittsburgh

5 Monday: 2 workers for 22 Hrs. total (11Hrs. Each) Tuesday: 2 workers for 22 Hrs. total (11Hrs. Each) Wednesday: 2 workers for 22 Hrs. total (11Hrs. Each) Thursday: 2 workers for 22 Hrs. total (11Hrs. Each) Friday: 2 workers for 22 Hrs. total (11Hrs. Each) Saturday: 2 workers for 26 Hrs. total (13Hrs. Each) Sunday: 2 workers for 26 Hrs. total (13Hrs. Each) Lax N’ At needs 5 workers (Associates) in addition to myself (Owner) In order to find workers, I will let local coaches know that I am starting a lacrosse business and would like them to refer any responsible players to interview for a job. I will hire workers by narrowing down the applicants based on their criteria of experience, skills and abilities. Then I will interview the applicants individually and make my decision based on each interview. Lax N’ At is open 81 total hours each week. 2 workers are needed to run the store. So 162 hours of labor

6 Position: Associate Supervisor: (Owner) Mr. Alex Romoff Rate of pay: $7.25/Hr. Necessary education: High school diploma Experience: Must have at least 5yrs of lacrosse experience Physical requirements: Able to stand for long periods of time Mandatory skills: Preferably able to string a lacrosse stick, Do basic math (give change) interact with customers Training program: Associates will shadow the supervisor for 3-4 days learning all the details of the products and how to do daily tasks

7 Major job tasks: stocking the showroom, carrying and stacking boxes in the storage room Specific job duties: working the register, stringing lacrosse sticks, assisting customers and restocking the show-room. Max Hours per week: 35hrs.Minimum hours per week: 15hrs. Normal Work Schedule: Daily: 11am-4pm or 4pm-9pmWeekly: Expected to work 5-6 Days per week Employee Benefits: Vacation: None Insurance: None Other: 25% off all products

8 Dicks Sporting Goods, Dunham’s Sports, QC Lax Dick’s Sporting Goods Large store Overpriced products Overwhelming amount of products, yet limited line of lacrosse equipment Poor customer service lacks individualized experience Dunham’s Sports Large store Very high prices Mostly outdoors gear, only a few lacrosse sticks QC LAX Store is nicely sized Competitive priced products Store is located in the South Hills and is hard to find (hidden in industrial park)

9 Purchases Must Be $15 Or More To Receive A “Punch” Advertising and Promotion PUNCH CARD

10 Advertising and Promotion FLYERS Grand Opening will include: Flyers Every stick strung will be strung for free First 100 customers get a free Lax N’ At T-Shirt

11 Floor Plan

12 Alex Romoff Balance Sheet 5/9/12 AssetsLiabilities Cash$6.00Friends Payable $10.00 Accountable Receivable $60.00Family Payable $5.00 Car $8,500.00Cafeteria Payable $- Electronics $1,000.00Library Payable $- Sporting Goods $600.00Car Loan Payable $- Stock $-Total Liabilities $15.00 Clothes $500.00Capital Alex Romoff Equity $10,651.00 Total Assets $10,666.00Total Liability and Capital $10,666.00

13 Lax N' AtAlex Romoff Income Statement For Month Ended December 31, 2012 JuneJulyAugustSeptemberOctoberNovember Revenue from Sales $38,400.00 Avg. Customers/Day 20 Avg. Purchase Price $80.00 Days open per month 24 Cost of Goods from Sales $19,200.00 Avg. Industry Markup 50% Gross Profit $19,200.00 Operating Expenses: Owner's Yearly Salary $55,000.00 $4,583.33 Wage Expense $3,944.00 Rent Expense $6,000.00 Advertising Expense $768.00 Supplies Expense $1,000.00 Utilities Expense $500.00 Cell phone & Internet $100.00 Insurance Expense $100.00 Loan Payment $2,156.36 *4% interest for 10 years Total Operating Expense $19,151.69 Net Income $48.31

14 Lax N' At Equipment List Note: List any Equipment needed for start-up Required Equipment for Start UpAmountTotalResource Technology Computer(s) $330.00 Office Depot Printer(s) $50.00 Office Max Phone(s) $38.00 Amazon Web Page $13.00 Go Daddy Cash Register(s) $69.00 Amazon Total Technology Cost $500.00 Equipment Ladder $50.00 Sears Batting Cage $200.00 Amazon Lacrosse Net $100.00 Amazon Radar Gun and Display $2,000.00 On Deck Sports Total Equi;pment Cost $2,350.00 Furniture & Fixtures Product Racks $300.00Sports Authority Display Table $100.00Walmart Stools $50.00 Total Furniture Cost $450.00 Other Assets Total Cost of Other Assets $- TOTAL COST OF EQUIPMENT $3,300.00

15 Lax N' At Start Up Costs Note: Required Start-up Funds for New Business Required Start-Up FundsAmountTotals Fixed Assets Technology $500.00 Equipment $2,350.00 Furniture and Fixtures $450.00 Other Fixed Assets $- Total Fixed Assets $3,300.00 Start-up Costs (one-time) Legal and Accounting Fees $1,000.00 Licenses $1,000.00 Rent Deposit $6,000.00 Utility Deposit $500.00 Other one-time costs Total Start-up One-time Costs $8,500.00 TOTAL START-UP COSTS $11,800.00 Note: Copy from Income Statement Operating Expenses One-Month Cost of Goods Sold $18,000.00 Owner's Yearly Salary $4,583.33 Wage Expense $3,944.00 Rent Expense $6,000.00 Advertising Expense $720.00 Supplies Expense $1,000.00 Utilities Expense $500.00 Cell phone & Internet $100.00 Insurance Expense $100.00 Total Operating Capital $34,947.33 Six-Month Operating Expenses + One-time Costs $209,683.98 Total Start-up Funds Required $ 212,983.98 **Start-up Funds + Six-Month Operating Expenses


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