bar bike llc
TRANSCRIPT
BUSINESS PLAN
Bar Bike ®
Page 1
Business Plan & Funding Proposal
March 9, 2015
Bar Bike ®
BUSINESS
PLAN
Page 2
CONTENTS
1. Executive Summary ........................................................................................................................ 1
2. Vision & Mission Statements ......................................................................................................... 3
3. Business & Industry Profile ............................................................................................................ 4
4. Business Strategy ............................................................................................................................ 7
5. Company Products and Services ..................................................................................................... 9
6. Marketing Strategy .......................................................................................................................... 11
7. Location and Layout ........................................................................................................................ 15
8. Competitor Analysis........................................................................................................................ 19
9. Management Team .......................................................................................................................... 21
10. Plan of Operation .......................................................................................................................... 23
11. Financial Forecasts ....................................................................................................................... 24
12. Appendices.................................................................................................................................... 30
Bar Bike ®
BUSINESS
PLAN
Page 1
1. EXECUTIVE SUMMARY
Company
Information Bar
Bike, LLC 1310 K
Street
San Diego, CA 92101
(310) 571-8781
Company Description
Company Owners / Members
Operations & Planning: D a v i d C l a r k
Marketing & Sales: Kevin Fontana
Finance: Kavi Bajaj
Human Resources: Steven Chow
The Bar Bike is a 16-person bicycle, manually powered by its passengers and operated by a “captain”,
that is ideal for just about every type of group outing/celebration imaginable — from bar-hopping
with friends to team-building with colleagues. It’s a fun, easy and safe way to socialize while
enjoying local sights and being outdoors.
We will be launching pub-crawl tours around the historic Gaslamp Quarter, which is located in the
heart of the San Diego nightlife. We will begin with two different routes set throughout the
Gaslamp Quarter, which when followed, will give our guests an exciting and new way to get
around.
Our target market is primarily college students. The typical college student goes out every
weekend and likes to socialize with others at bars and clubs.
The Gaslamp Quarter is also visited by millions of tourists every year; so new customers are
expected often. Our job is to present them with an exciting and unique way of traveling from one
place to another; a way in which they have never experienced before. Though San Diego city policy
forbids drinking on board at this time, we are hopeful that we will eventually be able to get this
concession from the city, as has been achieved in numerous cities throughout the United States by
similar companies (see appendix 1).
Bar Bike LLC is a company run by 4 members. We are planning to launch our company with a
splash during Oktoberfest. Because we anticipate October to be the busiest month, we are
operating on a fiscal year of Nov 1 - Oct. 31. The 2015-year in all proceeding diagrams and charts
is a short 3-month year.
Objectives
• Successfully develop client base of college students and tourists ages 21 to 44
• Purchase additional Bar Bike at beginning of second year (J)
• To increase our monthly sales above $20,000 by November 1, 2016
• Convince San Diego City to allow open-container drinking on-board Bar Bike
Bar Bike ®
BUSINESS
PLAN
Page 2
Subtotal 95,885
External Debt Financing Required
Total Capital Costs in First 2 Year 183,736
Committed Capital (20,000)
15% Contingency 14,383
Total 110,268
Total 163,736
Additional Capital Investment on November 1, 2015
Bar Bike (made by BeerWheel Drive)
63,885
Financial Highlights We are seeking an SBA 7(a) 7-year loan of $200,000 at 5.25% (prime + 2%). Startup costs,
capital expenditures, and capital expenditures for the first 2 years are in the following table:
Startup Costs
Bar Bike (made by BeerWheelDrive) 63,885
Used 2007 Toyota Tundra Pickup Truck 15,000
Transportation Trailer & Hitch 5,000
Logo, Website Design & Social Media Setup 5,000
Legal Costs (Incorporation, IP, Licenses) 5,000
Warehouse Banners, Design 2,000
Committed Capital
Member 1: David Clark 5,000
Member 2: Kevin Fontana 5,000
Member 3: Kavi Bajaj 5,000
Member 4: Steven Chow 5,000
Total 20,000
15% Contingency 9,583
Total 73,468
Total Capital Costs in First 2 Years
Seeking $200,000 SBA 7(a) Loan @ 5.25% for 7 Years
Startup Costs 110,268
Additional Capital Investment 2014 73,468
Total 183,736
Bar Bike ®
BUSINESS
PLAN
Page 3
2. VISION & MISSION
STATEMENTS
Vision Statement
We endeavor to give tourists and college students an unforgettable social experience that will stay with
them for years, and will be one that they will share with all their family and friends.
Mission Statement
To continuously strive to exceed peoples’ expectations by building unforgettable memories
through the Bar Bike. We will accomplish this by providing highly enjoyable and innovative
quality tours stopping at famous pubs and visiting historical artifacts throughout the beach towns
of San Diego.
Keys to Success
• We will use social media to introduce our bar bike to the marketplace and offer
discounts through Yelp, Groupon and Living Social.
• Our bar bike will stand out from other forms of transportation in which we will have an
interactive tour guide and eventually permit to have beer and wine on board
Bar Bike ®
BUSINESS
PLAN
Page 4
3. BUSINESS & INDUSTRY PROFILE
Industry Background and Overview
The first group bicycle originated in Amsterdam in the late 1900’s1 , name the Pedal Pub. Since then, it has spread to other parts of the world. Dedicated competitor manufactures cropped up, one of which was Beer Wheel Drive, which we are using as the manufacturer for our Bar Bike.
The Pedal Pub industry has been growing in recent years such as in places like Berlin, the
Netherlands, Minneapolis, and is only expected to expand throughout the U.S. For current
operators within the US, please see appendix 1.
The principal target consumers are college students and tourists. We are targeting all students from
the Universities and Colleges in the surrounding San Diego area.
We are going to start off with only one location; the Gaslamp District. The Gaslamp District runs for
16 and a half blocks, and is referred to as the “Heart of San Diego’s Nightlife”. There are many
attractions around this area, which is what brings in hundreds of locals and tourists who are looking
for a place to relax and have a good time.
We intend to start up in a college-based environment because college students popularize alcohol.
These college students will be able to network with people from school. The growth rate will rise
substantially during the summer time, which is the off time of most college students. It will also be a
main attraction during spring break. Our environment will be friendly and attractive to college
students. Although our focus will be taking people to bars, customers can also enjoy shopping and
dining while cycling through the Gaslamp district.
Significant Industry Trends
The U.S. alcoholic industry continues to grow and brings in revenues by the billions every year. We
expect to get new customers every day, especially when the school years resume.
The Pedal Pub in Minneapolis has successfully managed to have their passengers bring alcohol
on board, but only bring drinks such as wine, beer and wine coolers. No hard liquor is allowed.
The Trolley Pub in North Carolina is also allowing people to take their own wine, beer, and
coolers on board, but again, no hard liquor is allowed.
1 http://www.nytimes.com/2012/05/31/world/europe/from-amsterdam-beer-bikes-popularity-
spreads.html?_r=0
Bar Bike ®
BUSINESS
PLAN
Page 5
Industry Growth Rate
The alcohol industry is a multi-billion dollar industry, and is alive and well. As the chart below
shows, 56% of beverages sold in the US were alcoholic. The estimated total alcohol industry size is
$189 billion.
Alcohol consumption among college students has remained very high throughout the last 10 years,
with no indication of reducing.
2 US Beverage Industry Sizing Chart (2011): http://www.parkstreet.com/industry/alcoholic-
beverage-market-overview/
3 Alcohol Consumption Among College Students Chart (2010): http://www.centurycouncil.org/
underage-drinking/college-drinking
Bar Bike ®
BUSINESS
PLAN
Page 6
Key Success Factors
• The alcohol industry has many key success factors that keep it thriving throughout the
years. One is being able to adapt to the new markets and another is being able to introduce
new and exciting alcoholic beverages.
• Having a good tour guide is also critical, if the tour guide is boring and does not entertain his
or her audience people will get bored easily and not use the tour services.
• Gaslamp Quarter is the heart of SD nightlife, so being able to introduce the crowd to good
pubs with the right “vibe” and not depressing dingy places is a must. Outlook for Future Growth in Industry
As is visible in appendix 1, there is substantial growth in the Pedal Pub / mobile, large-group bicycle
tours. PedalPub having started in only in the year 2000, there are already 38 cities in the US with one.
Startup Stage: Launch 1 Bar Bike in San Diego.
Growth Stage: Expand fleet to 2 Bar Bikes.
Maturity Stage: Once we have satisfied demand in the market, we can expand our fleet further, or
start expanding to other busy college locations such as Santa Barbara, Long Beach and Berkeley,
which are locations free of competitors.
The market for alcohol is big throughout the college life. Many college students spend their
weekends having fun and enjoying time with friends at bars and pubs. This is where a lot of the
sororities and fraternities like to hang out and socialize to meet new people.
Company Goals and Objectives
• Achieve 75% saturation of 2 Bar Bike’s scheduling capacity (18 hours/ week-day, 30
hours/week-end)
• Reach $100k annual profit by the end of 2017
• Convince San Diego city to allow drinking on board the Bar Bike
• Expand to other busy college location such as Santa Barbara, Long Beach, and Berkeley
Bar Bike ®
BUSINESS
PLAN
Page 7
4. BUSINESS STRATEGY Desired Image and Position in Market
Bar Bike will have a modern and fun vibe at a moderate price level marketed that will appeal
primarily to college students and tourists. Bar Bike does not seek to compete with high-end pub-
crawl services like limousine and private-car tours, nor free and spontaneous meet-ups. Bar Bike is
entering into a mid-range affordable pub-crawl segment that is barely developed, even in San Diego.
SWOT Analysis Strengths
• Innovative, fun idea that is relatively new, but has demonstrated enough popularity and
success in those markets where it has already been tried and tested.
• Low variable-cost (low maintenance, no fuel, etc.) business, so expansion is easy, and a
matter of raising capital for purchasing additional Bar Bikes. Business is cash-flow
positive very quickly.
• Superior social media and marketing plans due to Kevin’s familiarity and experience with
marketing via Yelp, Facebook, Twitter, Pinterest, Living Social, Groupon, etc.
Weaknesses
• Nobody in management team has prior experience running this type of business, since it
is so new.
Opportunities
• Additional web services such as Pinterest, Living Social, Groupon, Foursquare, etc. make it
easier and easier for people to discover new local attractions. It also makes offering
discounts and doing promotions much simpler.
Threats
• Relatively little preventing new market entrants. This would require Bar Bike to expand
quickly to meet market demand to make sure there is little room for additional competitors.
Bar Bike ®
BUSINESS
PLAN
Page 8
Competitive Strategy Cost leadership
• Bar Bike will be medium priced. Each tour will cost $200/hour on weekends, or $12.5/
hour per person (2-hour minimum), and $175/hour on weekdays, or $11.25/hour per person
(2-hour minimum).
• Bar Bike will also sponsor “Mixer” nights, where people can book only 1 spot - this will be
$18/hour per person, or $20/hour for “cling-on’s” Differentiation
• Provides a public-facing, attention-attracting way to crawl from pub to pub, as opposed to
limousine services and simply walking.
• Creates memorable photo opportunities for college student and tourists alike.
• Drinking water and soft-drinks on board while pedaling provides exercise and
additional recovery from drinking alcohol in pubs. Focus
• To be as entertaining and fun loving as possible, by having a “Captain” or driver that is very
engaging, and interacts well with riders.
• The focus is to create an experience that each participant will never forget, and share with
everyone he/she knows
Bar Bike ®
BUSINESS
PLAN
Page 9
5. COMPANY PRODUCTS & SERVICES Bar Bike Tours
Bar Bike is a 16-person bicycle, manually powered by its passengers and operated by a “captain”, that
is ideal for just about every type of group outing/celebration imaginable — from bar-hopping with
friends to team-building with colleagues. It’s a fun, easy, and safe way to socialize while enjoying
local sights and being outdoors.
The Bar Bike has a maximum speed of 5-8mph, and struggles to go up a 6% steep grade, so we pick
routes that are easier on the riders.
At time of launch, we will have 2 routes:
1. The Gaslamp Quarter: The route starts the Gaslamp Tavern at 5th avenue and E street,
continues down on 5th avenue and includes the following bars: Urban bar and Grill, Analog
bar, The Tipsy Cow.
2. Mission Beach: The route follows the beautiful Mission Blvd. along the coastline. It starts at
Guava Beach Bar and Grill, next stop is Coaster Saloon, and Beach Comb.
The Bar Bike may also be booked for private events such as bachelorette/bachelor parties or birthdays, as
well as scenic tours of San Diego.
Customer Benefits
• Unique and memorable experience that few have experienced today.
• Social bonding with friends and colleagues
• Get a little exercise while having fun! Warranties & Guarantees
At this time, the city of San Diego requires a $2 million dollar liability insurance policy for public
transport carriers.
Every rider must fill out and sign a release waiver (see appendix 2)
Patent & Trademark Protection
The Bar Bike logo, name, and vehicle design will be trademarked using the services of Seton & Associates
Law Firm in Beverly Hills, CA, for a cost of $5,000.
Bar Bike ®
BUSINESS
PLAN
Page 10
Production Process The Bar Bike will be built and manufactured to specification by Beer Wheel Drive (http://
beerwheeldrive.com), a subdivision of Caztek Egineering.
Please see appendix 3 for more information.
Future Service Offerings
In the future, Bar Bike intends to add scenic route day-tours during the week, as well as
ultimately expand into additional markets in Santa Barbara, Long Beach, and Berkeley.
Bar Bike ®
BUSINESS
PLAN
Page 11
6. MARKETING STRATEGY Target Market
The market segmentation is divided into the leading target markets. The division reflects the
differences in marketing strategy that will be used to target each different market:
• Middle class, “white collar” office workers. These are people seeking to have a drink or some
quick food during lunchtime and sometimes want to show out-of-towners some of the local
highlights. The growth of this market segment as demonstrated in the Market Analysis table is
based on the estimated growth of business establishments in the Gaslamp Quarter area.
• Late nighters and weekend partiers (college students). These are the folks that drop by and
stay for many hours socializing and drinking. Since San Diego has a lot of college students,
our main focus is on these students. Growth of this segment is based on the estimated
population growth of San Diego itself.
• Brew Connoisseurs. These customers are a relatively new type to the American scene.
Although there have been beer connoisseur all over since beer was invented, all this
has inspired new connoisseur in brewing that has revolutionized the industry. With so
many new types and brands of beer available, the customer that wants to try new types
is being wooed by all industry participants. These are perfect for the Pedal Pub tours,
people can try all the different brews at each stop.
• Tourists. These are another important target market since there is always a steady flow
of tourism in the Gaslamp Quarter. The profile of the Pedal Pub customer consists of the following geographic, demographic,
psychographic, and behavior factors:
Geographic’s
• Our immediate geographic market is the San Diego area, with a population of 3,211,252.
This also makes up the major population surrounding San Diego (U.S. Department of
Commerce- Bureau of Economic Analysis) as part of our overall target area.
Demographics
Our general target market is male and female age 21-44, but we have segmented our market
into two smaller and more identifiable groups:
• College students
• The avid rider, male and female, age 21-44 with an average income of $45,000 or higher
Bar Bike ®
BUSINESS
PLAN
Page 12
Psychographics
• Health and fitness is a priority
• Enjoys watching sporting events
• Enjoys going to bars
• Enjoys recreational activities
• Enjoys being outdoors and staying physically active
• He or she likes scenic tours Behaviors
• Take pride in how they look and feel
• Regularly goes to bars for fun
• Enjoy being outside and intermingling with people
• People who love attracting attention to themselves
• Likes to try new things
• Goes out to bars and pubs for recreational activities
Market Size & Trends
In order to figure out the market size and the trends that are associated with the Pedal Pub we have
to look at 2 different industries. First, the bar scene, second, the bicycle scene. Based on the
research:
1. IBISWorld expects revenue for the Bars and Nightclubs industry to grow at an annualized rate
of 0.02% over the five years to 2015, with an increase of 2.2% to $19.8 billion in 2013 alone.
2. The size of the industry has remained remarkably stable since 2003, with sales between
$5.8 billion and $6.1 billion each year (the exception being the recession year 2009).
For comparison purposes, the industry’s size is projected at $5.3 billion in 2002, $5.4
billion in 2003, $5.8 billion in 2004, $6.1 billion in 2005 (an all-time high), $5.8 billion
in 2006, $6.0 billion in 2007, $6.0 billion in 2008, $5.6 billion in 2009, $6 billion in 2010,
$6 billion in 2011, and $6.1 billion in 2012 and $5.8 billion in 2013. (The source is the U.S.
Bicycle Market 2013 report)
Bar Bike ®
BUSINESS
PLAN
Page 13
3. There is a demand for both industries, so by putting them together there is a wider target
market and it appeals to more people. The market is only going to get bigger with the growing
economy. Even in the recession, both industries were doing relatively well. Advertising & Promotion
Bar Bike’s primary means of marketing is going to be word-of-mouth and college campus
marketing.
Media Used & Costs
• Student campus reps - recruit San Diego students (San Diego State, USD, UCSD) to
advertise on campus and use bulletin boards, and word-of-mouth. Pay with 5%
commission and $10/hour wage.
• Groupon, Living Social, Yelp, Foursquare, Twitter, Facebook (hire social media intern once
the manager is busy all day. In the beginning, have the manager deal with it between phone
calls, which are estimated to be moderately infrequent in the beginning. The cost of these
services is in the discount promotion very little - between 5% and 10% of Bar Bike’s gross
sales attained through them.
• Press releases to local media and blogs (see appendix 4 for example Beer Wheel Drive
press coverage) Frequency of Use
The Pedal Pub will be used more often in the warmer summer months, as well as Oktoberfest but
will be active all year long as well. Since the Gaslamp Quarter is a tourist destination we will be able
to operate year round.
Plans for generating publicity
We will start with passing out flyers at colleges in the surrounding San Diego area.
Since we will not have the capital to do online advertising for a while, we will advertise in
local newspapers and radio stations.
Once we have raised the necessary capital we will then advertise online and on television.
Pricing Cost structure (seats 16 people)
Fixed: $18 per person or $200 to rent the whole bike
Variable: With the proper coupon get $50 off if booked 1 week in advance.
Bar Bike ®
BUSINESS
PLAN
Page 14
Distribution strategy Channels of distribution used
• We work with the bars and Pubs in the surrounding areas and bring the tourists to them.
• We also take them on planned out tours where they can visit gift shops and see the
historical aspects of the Gaslamp Quarter.
Sales techniques and incentives
• The bars and pubs we work with offer special deals on drinks like buy one get one free.
• If rented out a week in advance you can get a $50 rebate.
• If you are a college student you get a 1% discount.
• Groupon, Yelp, and Foursquare Deals
Bar Bike ®
BUSINESS
PLAN
Page 15
7. LOCATION & LAYOUT
Demographic Analysis of Location
The Bar Bike will be operating in San Diego, California, which, according to Census1 has a fast growing population (2.6% from April 1 – July 1 2012). Furthermore, the cities’ many colleges and universities provide a solid customer base of college students, which is one of our target customer groups. The student population, includes college students from the following universities,
• San Diego State University: 30,541 students in Fall 20142
• University of San Diego: 8, 317 students in Fall 20143
• University of California San Diego: 29,234 in Fall 20144
Note, that these are only the three biggest universities and exclude the eight community
colleges and eight smaller universities in the area so the student population is assumedly much
larger than these numbers above displays.
In Addition to college students, our business also targets tourists. According to San Diego’s
Chamber of Commerce, San Diego is listen the 14th best place to visit in the world. Furthermore,
the tourism in San Diego is a booming industry, “In March 2014 the number of total visitors
increased by 2.3% as compared to the previous year and total visitor spending increased by 9.9%
this rate the tourism industry can be expected to add to the existing
152,000+ employees in its workforce” 5. According to another source, San Diego has 32 million
visitors every year, which spends $8 billion annually6. These numbers certainly argues the fact
that a business, which targets college students and tourists in San Diego, has the potential to
be successful.
Routes: The Bar Bike will initially have two different routes, the one in Gaslamp quarter will start
at our warehouse at 1310 K Street, which is close enough for the passengers to pedal to the route.
• The Gaslamp Quarter - The route starts the Gaslamp Tavern at 5th avenue and E street,
continues down on 5th avenue and includes the following bars: Urban bar and Grill, Analog
bar, The Tipsy Cow.
The Gaslamp Quarter is an historic area of San Diego that was previously known as the Old
Town, it is a 16 blocks large area, packed with bars, restaurants, and nightclubs that attracts
both tourists and locals. The Gaslamp Quarter is known as the heart of the San Diego nightlife
and is the perfect spot for bar hopping. Approximately 10 million tourists visit the Gaslamp
Quarter every year ([7]) It’s location near the San Diego Conventional Center, makes it
possible to coordinates routes with different events held at the convention center.
Bar Bike ®
BUSINESS
PLAN
Page 16
• Mission Beach - The route follows the beautiful Mission Blvd. along the coastline. It
starts at Guava Beach Bar and Grill, next stop is Coaster Saloon, and Beach Comb.
Mission beach is one of the most popular beaches in San Diego, it contains a 3 mile long
beachfront boardwalk, and includes the popular Belmont Park that hosts an amusement part and
a entertainment center. The boardwalk has a vide variety of restaurants, shops and bars.
The Pedal pub may also be booked for private events such as bachelorette/bachelor parties or birthdays,
where the route could be changed.
Lease & Rental Rates
We will lease a warehouse where the Bar Bike will be stored when it is not being used. This is also
where the Bar Bike will be maintained by our repairman. We will lease a warehouse/ office space at
1310 K street, San Diego, CA 92101. This is adjacent to Gaslamp Quarter, making it the ideal
location for our bar hopping routes. These routes will start at the warehouse, this way there will be no
additional charge for transporting the BarBike to the Gaslamp quarter. The lease is approximately
$2,500/month The warehouse includes a roll up door, which will make the transportation of the
BarBike easier, as well as a small office and restroom.
Labor Needs and Supply
We will need one driver that will be steer, brake and ensure that all traffic rules are followed as
well as that the BarBike is operated safely.
There are no special competencies needed from the driver in terms of education and previous
experience. The main characteristics of the driver we are looking for is to be highly entertaining,
customer friendly, trustworthy and in good enough shape to be able to be pedaling for a couple of
hours. A driver with previous experience of similar work, such as a pedicab would also be
beneficial. There are multiple web sites were pedicab drivers are offering their services.
Furthermore, the driver needs to meet the following requirements:
1. Possess a valid State of California driver license or a valid driver license from their home
state. Those with out-of-state driver licenses must not have a currently cancelled, revoked or
suspended State of California driver license.
2. Be a minimum of eighteen (18) years old.
3. Shall not have had more than three (3) moving violations in the last three (3) years and no
more than two (2) moving violations in the last year.
4. Shall not have been convicted of careless or reckless driving or any violation of driving
Bar Bike ®
BUSINESS
PLAN
Page 17
while impaired within the past three years.9
Furthermore, a repairman, a driver that will drive the Bar Bike to between the different routes and the
warehouse, and a full time manager that will be responsible for booking, customer service etc. will also
be hired.
Wage Rates
The minimum wage rate in California is $9.00 per hour.10
One of the companies hiring pedal cab drivers in San Diego pays their drivers between $10-50 per hour.11
We will be paying a competitive price to our driver of $14/hour, not including tips he will
receive from riders. Please see appendix 5 for more detailed wage rates paid to employees.
Layout
Please refer to the layout of the Bar Bike in appendix 3.
Size requirements
We will order an already assembled Bar Bike from Caztek Engineering12. The size of the pedal pub
is 19’10” in Length, 6’3” in width and 9’1” in height and weighs 1,800lbs13. The warehouse
therefore has to have a garage door with a clearings height of 12’ feet, assuming that the Bar Bike
will be up on a two feet high trailer.
Americans with Disabilities Act compliance
Our pedal pub will contain a bench at the back, which is suitable for passengers with
disabilities, who are not able to pedal themselves but still would like to enjoy our tours.
Bar Bike ®
BUSINESS
PLAN
Page 18
Ergonomic issues
Our company is highly committed to our customers’ satisfaction and our pedal pub is therefore
equipped with ergonomic seats, since uncomfortable seats could pose an issue for
our passengers. Furthermore, there is overhead compartment and purse-hooks for bag storage
so one does not need to hold on to their belongings while pedaling. Lastly, the bench offers a place
to relax if one were to be tired of pedaling.
1 Census http://quickfacts.census.gov/qfd/states/06/06073.html 2 http://www.forbes.com/colleges/san-diego-state-university/ 3 http://www.forbes.com/colleges/university-of-san-diego/ 4 http://studentresearch.ucsd.edu/sriweb/Profile2014.pdf 5 http://www.sdchamber.org/assets/files/Website%20Resource%20Docs/San%20Diego%20
RCC%20Report_FINALv2.pdf 6 http://www.sandiego.org/industry-research.aspx 7 http://www.theheadquarters.com/uploads/media_items/demographicinfonearbyattractions.
original.pdf 8 http://www.cityfeet.com/cont/ForLease/CF1715800/4901-Morena-Blvd-San-Diego-
CA-92117 9 http://thepartybike.wordpress.com/ 10 http://www.dol.gov/whd/minwage/america.htm#California 11 http://www.pedicabforum.com/forums/jobs/3495-pedicab-drivers-wanted-san-ysidro-san-
diego.html 12 http://www.beerwheeldrive.com/index.php 13 http://www.beerwheeldrive.com/images/specs.pdf 14 http://www.beerwheeldrive.com/images/specs.pdf
Bar Bike ®
BUSINESS
PLAN
Page 19
8. COMPETITOR ANALYSIS Existing Competitors
Our existing competitors are bicycle rentals, companies that offer unique tour experiences and pub-crawls,
limousine services for college students and tourists.
Scale:
1: Major weakness
2: Minor Weakness
3: Minor strength
4: Major strength
Ray’s Rentals is a company that offers bicycle rentals at Mission beach and other locations in San
Diego. Ray’s Rentals’ strength is the fact that they are flexible as they do not only have physical
stores at three San Diego locations, but they also offer delivery. Another strength is their low prices,
renting bikes for as low as ten dollars per day. One of their weaknesses is that they do not offer a
unique customer experience; bicycles and Segway’s can be rented in all major cities all over the
world. Pedal pubs however, are still a unique and new experience that not many people have had the
chance to experience. This will give our company a competitive advantage. Furthermore, our
company offer’s our customers a flexible experience, as it can
be used for different routes such as barhopping, wine tasting, or customized for birthdays,
bachelor/bachelorette parties etc. Ray’s Rentals cannot offer this kind of specialized service to their
customers, which is one of their weaknesses when compared to our company.
San Diego Pub Crawl is a company that offers different kind of pub-crawls, they host weekly pub-
crawls offering pick up and drop off, discounts on drinks and free admission. Furthermore, they
have customized events birthday parties, hot balloon rides, packages with hotel nights and different
tours.
One of their strengths is that they are flexible as they can offer a wide range of different
Bar Bike ®
BUSINESS
PLAN
Page 20
type of pub-crawls and are able to customize birthday parties and other events. Furthermore they
are also able to offer low prices with their most basic weekly pub-crawl. One of their weaknesses
are that they offer pick up and drop of by bus or limousine, this makes their business less
environmental friendly if compared to the pedal pub which does not require gas at all. Another
weakness is that their business is mainly focused around alcohol consumption and nightlife. The
Bar Bike, on the other hand, is more flexible as it can also
be used as a tool of barhopping, but also during the day for a variety of activities such as pedal
along the beach or other scenic routes and allows a choice of alcohol-free beverages consumption. San Diego Limo Buses
San Diego Limo Buses is a company that provides limousines, party buses and similar vehicles
for college students, tourists and locals who wants to go barhopping or just cruise around San
Diego in a cool vehicle. They offer special events such as wine tasting, bachelorette parties,
as well as local tours. Their major strength is that they have a vide variety of vehicles which
can be used in many different settings, such as shopping tours, bachelorette parties as well as
basic transportation to air port or cruise ships. Their major weakness is that their business is
not as unique as our business, compared to a Bar Bike a party bus appears as rather plain and
can be provided by a vide variety of other companies. The Bar Bike’s unique appearance draws
more attention than a limousine and is more intimate than a large party bus. Potential competitors (companies that might enter the market)
Our potential competitors are companies that are currently operating pedal pubs in other cities and
are looking to expand. One example of such company is The Beach Barcycle, which is a pedal pub
currently operating in Santa Monica and Venice Beach, California.
If these competitors were to enter the market, it would certainly affect Bar Bike, as they would
compete for the same customers. However, they use a “simpler” version of the pedal pub, whereas
the type of pedal bar we use is more advanced and has features such as break lights, front and back
bumpers and ergonomic seats making our pedal bar the more safe and comfortable choice for the
customers.
Bar Bike ®
BUSINESS
PLAN
Page 21
9. MANAGEMENT TEAM Our company will hire only the best people qualified to run the Bar Bike. There will be four owners
of this limited liability company; Kavi Bajaj, Kevin Fontana, Steven Chow and David Clark. Each will
contribute $5,000 starting capital, and will all have 25% equity in the business.
• Kavi Bajaj will be responsible for the financing and the accounting for the company
• David Clark will be in charge of writing out business strategies and planning
• Steven Chow will take charge of hiring and training people
• Kevin Fontana will be in charge for marketing and sales
We will also hire four more personnel with the following pay and requirements:
Employees Warehouse Manager
The Warehouse manager will preferably have a bachelors degree, and will be getting paid
$17 an hour. He/She will be in charge of resolving issues with the customers, and therefore
should have great customer service skills and have great attention to detail. They should have
prior cash handling experience of at least 1 year and must be able to work face-to-face with
customers. Also, they must know how to work a register, know how to do an end of day close
out, and must be able to complete refunds and schedule route. The manager will be required
to stand for long periods of time and will be in charge for having customers sign the liability
waiver forms.
Bar Bike Driver/Tour Guide
The driver will preferably be a college student and have a high school diploma. They will get
paid $12/hour + tips. (This is according to the median wage that tour guides typically make.)
http://www.bls.gov/oes/current/oes397011.htm The tour guide should be fully aware of his/
her surroundings and should be very knowledgeable about the history of the Gaslamp Quarter.
The guide/driver should be able to answer questions that the customers may have as well
as be able to recommend the best bars and restaurants. Some other requirements include
being able to manage large crowds of people, enjoy working with people, have a good sense
of humor, ensures the safety of the customers, have exceptional knowledge in the alcoholic
industry, be able to work under pressure and able to work without being micromanaged. The
driver must have a clean driving record and should be able to work in a noisy setting. Bilingual
is a plus.
Truck Driver
The driver that will drive the truck that carries the Bar Bike to/form location will preferably
Bar Bike ®
BUSINESS
PLAN
Page 22
have a high school diploma. They will get paid $14/hour.(Other transit and ground transportation)
http://www.bls.gov/oes/current/oes533021.htm. This person is required to have at least two years of
driving experience along with at least one reference. They must also know the Gaslamp District area.
Repairman
The repairman will only need to work part-time and will get compensated $15/hour. They Must
know how to diagnose mechanical problems, should know how the bar bike operates, how to
estimate repair costs, and be able to demonstrate proficient trade skills.
College Promoter
The college promoter should be a current San Diego University student who demonstrates
excellent people skills, and is charismatic. They will be paid $10/hour + commissions which are
negotiable.
Bar Bike ®
BUSINESS
PLAN
Page 23
10. PLAN OF OPERATION Bar Bike LLC will be a Limited Liability Company for the ease of formation. An LLC serves beneficial
for this business plan as it offers owners a limited liability without imposing any ceiling on individual
revenues. This form of management will cause any restriction in member’s involvement in managing the
company and will also allow the company to avoid double taxation imposed by corporations.
Below is the organizational chart of the Bar Bike LLC owners and employees:
Bar Bike LLC
David Clark Kevin Fontana Kavi Bajaj Steven Chow Employees
Manager Bar Bike Driver Truck Driver Repairman College Promoter
Principle decision-making authority rests with David Clark, who is our strategic partner. However,
whenever possible, we vote by consensus for all business-related matters (3/4 must consent).
Owner Compensation
At this time, the 4 owners of the business will not be receiving a salary nor benefits packages, but
regular distributions from the profits of the business (see Financial Forecasts section).
Distribution Schedule
$ 500/month draw to each member in 2016 (recoup original $5,000 investment)
$1,000/month draw to each member in 2017
$1,500/month draw to each member in 2018
$2,000/month draw to each member in 2019
$3,500/month draw to each member in 2020
Market Exit
Though Bar Bike LLC does not anticipate being forced to exit the market, it does sometimes occur
due to unforeseen circumstances. In the case of bankruptcy, Bar Bike carries a substantial portion of
its overall value in the form of capital assets - which can be liquidated and the funds used to pay off
outstanding debts. Bar Bike LLC does not anticipate problems repaying the SBA loan due to it being
cash-flow positive from the very beginning. Please see the following Financial Forecasts section.
Bar Bike ®
BUSINESS
PLAN
Page 24
11. FINANCIAL FORECASTS
Sales Forecast 2015-2020
Bar Bike LLC will be launching for Oktoberfest 2015 - maximizing the growth potential and visibility
of the company. Based on a conservative estimate of booking 1 2-hour tour per week- day (Mon-Thu),
and 2 2-hour tours on each weekend-day (Fri-Su), we project the following growth rate for Bar Bike
sales:
Annual Gross Sales Annual Sales Growth
2015 (Partial Year) $ 16,466.67 N/A 2016 $ 199,766.67 N/A
2017 $ 281,233.33 40.78%
2018 $ 353,600.00 25.73%
2018 $ 423,800.00 19.85%
2019 $ 475,800.00 12.27%
Forecasted Annual Sales 2015-2020
$500,000
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$- 2015 (Partial
2016
2017
2018
2019
2020
Year)
For a detailed month-by-month sales forecast of the first 2 years, please see appendix 6.
Bar Bike ®
BUSINESS
PLAN
Page 25
Quarterly Growth 2016-2017
Due to the seasonal nature of tourist demand and college student availability, Bar Bike
experiences 2 major season of growth: June - October (Q4 Summer Tourism ending with Oktober
Fest) and March (Q2 Spring Break). We can see these seasonal fluctuations below:
Quarterly
Gross Sales
Quarterly
Growth Rate
2016 Q1 $ 35,533.33 N/A
Q2 $ 47,233.33 32.93%
Q3 $ 52,866.67 11.93%
Q4 $ 64,133.33 21.31%
2017
Q1 $ 58,500.00 -8.78%
Q2 $ 64,133.33 9.63%
Q3 $ 69,766.67 8.78%
Q4 $ 88,833.33 27.33%
Break-Even Analysis Bar Bike LLC will be generating profits within the first 4 months of operations, once revenues
exceed $130,000 annually ($2,500 / week).
Bar Bike ®
BUSINESS
PLAN
Page 26
Income Statement
Revenues
2015* 2016 2017 2018 2019 2020
Weekend Sales 10,400 111,800 150,800 208,000 260,000 312,000
Weekday Sales 6,067 87,967 130,433 145,600 163,800 163,800
Gross Sales 16,467 199,767 281,233 353,600 423,800 475,800
Less: Sales Discounts (1,647) (13,195) (18,373) (22,100) (26,488) (29,738)
Net Sales 14,820 186,572 262,860 331,500 397,313 446,063
Total Revenues
14,820
186,572
262,860
331,500
397,313
446,063
Expenses
Operating Expenses
Salaries & Wages
6,311
82,990
97,028
105,969
115,009
122,829
Rent 2,500 30,900 31,827 32,782 33,765 34,778
Maintenance & Repairs 651 7,815 15,179 15,179 15,179 15,179
Liability Insurance 833 10,000 10,000 10,000 10,000 10,000
Depreciation 20,913 18,267 31,237 22,178 15,746 11,180
Marketing & Advertising 593 7,463 10,514 13,260 15,893 17,843
Legal & Professional Fees 5,000 1,000 1,000 1,000 1,000 1,000
Utilities 109 1,300 1,300 1,300 1,300 1,300
Transportation 50 900 1,035 1,191 1,369 1,575
Total Operating Expenses 36,960 160,635 199,121 202,859 209,262 215,684
Other Expenses
Interest Expense
875
9,046
34,200
34,200
34,200
34,200
Merchant Account Fees 453 5,494 7,734 9,724 11,655 13,085
Total Other Expenses 1,328 14,540 41,934 43,924 45,855 47,285
Total Expenses
38,288
175,175
241,055
246,783
255,116
262,969
Net Income
(23,468)
11,397
21,805
84,717
142,196
183,094
* Partial Year. Fiscal Year is from Nov. 1 - Oct. 31
The 2 most significant expenses for Bar Bike are Salaries & Wages and Rent. As we can see from the
prof-forma income statement above, Bar Bike begins generating a profit within it’s first year of
operation (2015 is a 1-month partial year). Since the majority of the costs are fixed, or very inelastic
such as Wages - revenue increase is not accompanied with a substantial rise in variable costs. By year
2018, the company is already generating a substantial return on the original owners’ investment of
$20,000. By the 5th year, the company will be producing almost enough profit to pay for the entire
200k SBA loan requested.
Bar Bike ®
BUSINESS
PLAN
Page 27
Cash Flow Statement
It is a priority of Bar Bike LLC to remain highly capable of repaying its long-term debts. As a result,
our management has decided to operate with a significant cash reserve that allows for the company to
respond to outside threats (competitors) and lackluster demand, should it arise.
As we can see on the pro-forma cash flow statement - Bar Bike LLC produces a net cash inflow in
the 3rd year of operation. Based on regular performance reviews, the company reserves the right to
reduce the owner distributions schedule in order to make sure the company has sufficient cash.
Operating Activities
Net Income
2015*
(23,468)
2016
11,397
2017
21,805
2018
84,717
2019
142,196
2020
183,094
Add: Depreciation 20,913 18,267 31,237 22,178 15,746 11,180
Total Operating Activities (2,554) 29,664 53,042 106,895 157,943 194,274
Investing Activities
Purchase of 1x Bar Bike (83,885) (63,885) - - - -
Total Investing Activities (83,885) (63,885) - - - -
Financing Activities
200k SBA Loan
200,000
-
-
-
-
-
SBA Loan Repayment (1,975) (24,389) (25,701) (27,083) (28,540) (30,074)
Owner Contributions 20,000 - - - - -
Owner Draws - (24,000) (48,000) (72,000) (96,000) (168,000)
Total Financing Activities 218,025 (48,389) (73,701) (99,083) (124,540) (198,074)
Total Cash Inflows / Outflows 131,586 (82,610) (20,659) 7,812 33,403 (3,800)
Beginning Cash 0 131,586 48,976 28,316 36,129 69,532
Ending Cash 131,586 48,976 28,316 36,129 69,532 65,732
$500/month draw to each member in 2016 (recoup original $5,000 investment)
$1,000/month draw to each member in 2017
$1,500/month draw to each member in 2018
$2,000/month draw to each member in 2019
$3,500/month draw to each member in 2020
* Partial Year
Bar Bike ®
BUSINESS
PLAN
Page 28
Balance Sheet
Assets
2015* 2016 2017 2018 2019 2020
Cash 131,586 48,976 28,316 36,129 69,532 65,732
Plant, Property & Equipment
83,885
147,770
147,770
147,770
147,770
147,770
Less: Accumulated Depreciation (20,913) (39,180) (70,417) (92,595) (108,342) (119,522)
Net Plant Property & Equipment 62,972 108,590 77,353 55,175 39,428 28,248
Total Assets
194,557
157,565
105,669
91,304
108,960
93,980
Liabilities & Equity
Liabilities
Notes Payable (200k SBA Loan)
198,025
173,636
147,935
120,852
92,312
62,238
Total Liabilities 198,025 173,636 147,935 120,852 92,312 62,238
Equity
Member 1: David Clark
(867)
(4,018)
(10,567)
(7,387)
4,162
7,935
Member 2: Kevin Fontana (867) (4,018) (10,567) (7,387) 4,162 7,935
Member 3: Kavi Bajaj (867) (4,018) (10,566) (7,387) 4,162 7,936
Member 4: Steven Chow (867) (4,018) (10,566) (7,387) 4,162 7,936
Total Equity (3,468) (16,071) (42,266) (29,548) 16,648 31,742
Total Liabilities & Equity
194,557
157,565
105,669
91,304
108,960
93,980
* Partial Year.
Fiscal Year is from Nov. 1 - Oct. 31
Bar Bike ®
BUSINESS
PLAN
Page 29
Selected Ratios
Because Bar Bike LLC operates with free cash flow from the very first months, the company does
not carry short-term debt, as it’s only external financing is the SBA 7(a) loan of 200k. As a result,
several common liquidity-banking ratios do not exist for the company, such as the Current Ratio
and Quick Ratio.
The company also does not have Asset Management or Turnover ratios, as all payments are
received immediately via credit card, and Bar Bike LLC does not allow deferred payments.
Below are several of Bar Bike LLC’s pro-forma financial ratios:
Long-Term Solvency Ratios 2015 2016 2017 2018 2019 2020
Total Debt Ratio 1.02 1.45 1.40 1.32 0.85 0.66
Debt-to-Equity Ratio -57.10 -10.80 -3.50 -4.09 5.54 1.96
Profitability Ratios
Return on Assets
-0.12
0.07
0.21
0.93
1.31
1.95
Net Profit Margin -1.58 0.06 0.08 0.26 0.36 0.41
We can see from the solvency ratios that the company will be highly leveraged in the first
few years of operations, however in 2017 we see the beginning of a substantial increase in
profitability. In fact, by 2020, the company has a .41 net profit margin, which is only expected to
increase as revenues increase.
Loan Proposal
Due to the strong profitability and free cash flow the company expects, especially in the 2nd and 3rd
years, we believe that a $200k SBA 7(a) loan at 5.25% for 7-years is a very low risk proposal for a
lender. The company is profitable within the first year, and generating free cash inflows by the 3rd
year. In the 5th years of operations, the company can almost entirely repay the debt with one year’s
worth of profits.
Bar Bike ®
BUSINESS
PLAN
Page 30
12. APPENDICES
Appendix 1 - Current U.S. Competitor Market
Bar Bike ®
BUSINESS
PLAN
Page 31
21
Appendix 2 - Sample Liability Waiver
Name (print)
Date of birth
RIDER RELEASE OF LIABILITY:
I acknowledge that operating the Traveling Tap is a potentially dangerous activity. I assume the
risk that I may be injured and/or injure someone else while using the Traveling Tap. I assume all
risks associated with my use of the Traveling Tap and will not bring any action against Traveling
Tap, its successors and/or assigns, for personal injury, property loss, or property damage,
including any action for negligence, breach of warranty, products liability or strict liability. The
Traveling Tap is of proprietary manufacture, and I agree not to build or cause to be built any
vehicle of the same or similar construction.
I further agree to release, indemnify and hold harmless the owners and manufacturers of the
Traveling Tap from any liability against any and all claims, including damages or demands of
third parties as a result of my use of the Traveling Tap.
I decline the offer of the free use of a helmet while riding the Traveling Tap. (Initials)
1. All riders aboard on tours that serve alcohol must be 21 years of age or older.
2. Renters may bring beer or wine on board as allowed by law. No hard liquor.
3. All alcoholic beverages and people holding them must remain on the Traveling Tap at all
times.
4. Glass is strictly prohibited. No glass is allowed on the Traveling Tap.
5. The Traveling Tap driver is responsible for the Traveling Tap, and his/her decisions are final.
6. Inappropriate behavior before, during and after tours will result in the offending
passenger(s) being asked to disembark the Traveling Tap. These include but are not limited to:
t &YUSFNF JOUPYJDBUJPO t (JWJOH BMDPIPM UP OPO-QBTTFOHFST t -JUUFSJOH
t 1VCMJD VSJOBUJPO t -PJUFSJOH NPSF UIBO 5 NJOVUFT BGUFS UPVS t &YDFTTJWF OPJTF
7. Any open alcoholic beverages must be emptied immediately when the tour ends.
8. Severe transgressions of the above will result in the Pilot ending the tour immediately, and
causing a Late/Damage Fee of $200, to be charged to the Renter’s credit card.
9. All laws and rules regarding alcohol apply to all passengers before, during and after Traveling
Tap tours.
10. Any person arriving in an intoxicated condition shall not be allowed on the Traveling Tap.
I have read, understood, and I agree to the above provisions.
Rider Signature Date
ALL RIDERS MUST READ AND SIGN IN INK!
BEER WHEEL DRIVE Business Guide July 2014
Bar Bike ®
BUSINESS
PLAN
Page 32
4
Appendix 3 - Construction Sheet
BEER WHEEL DRIVE Business Guide July 2014
Bar Bike ®
BUSINESS
PLAN
8
Appendix 4 - Press (1 of 2)
BUZZ
Make Magazine has a readership of over 250,000 and 5.2 million monthly on-line page views.
BEER WD was featured in Volume 28.
BEER WHEEL DRIVE Business Guide July 2014 Page 33
Bar Bike ®
BUSINESS
PLAN
Appendix 4 - Press (2 of 2)
Wired.com is an award-winning technology website.
Page 34
Bar
Bik
e®
BU
SIN
ES
S
PL
A
N
Ap
pen
dix
5 - C
osts D
etail
Pag
e 35
Bar Bike LLC
Annual Costs
Detail 2015-2020
Costs 2015* 2016 2017 2018 2019 2020 NOTES
Salaries & Wages
Manager (9 hours / day @ $17/hour) 4,667 56,000 59,360 62,922 66,697 70,699 Assume 6% raise every year
Manager's Assistant (9 hrs / weekend-day @ $17/hour) - - 2,652 2,811 2,980 3,159 Assistant Starts in 2017, 6% raise annually
Vacation & Medical Benefits (14 days) - 1,904 3,808 3,808 3,808 3,808 Benefits added for assistant in 2017
Bar Bike Driver ($14/hour * total hours from sales forecast) 1,218 14,866 20,988 26,208 31,304 34,944
Truck Driver ($14/hour * 1 hour/day for year 1, 2 hours/day for y2) 426 10,220 10,220 10,220 10,220 10,220
Total Salaries & Wages 6,311 82,990 97,028 105,969 115,009 122,829
Storage Rent 2,500 30,900 31,827 32,782 33,765 34,778 assuming 3% rental increase per year
Maintenance and Repairs
Daily Cleaning of each vehicle - takes 1 hour 456 5,475 10,950 10,950 10,950 10,950 Second vehicle added in 2017
Allowance 3% of total vehicles (Bar Bikes & Truck) annually 195 2,340 4,229 4,229 4,229 4,229
Total Maintenance and Repairs 651 7,815 15,179 15,179 15,179 15,179
Insurance Policy
$2,000,000 liability insurance policy (via manufacturer estimate) 833 10,000 10,000 10,000 10,000 10,000
Depreciation
Bar Bike #1 913 18,267 12,970 9,208 6,538 4,642 200% DB MACRS Method over 7 years (29% annually)
Bar Bike #2 - - 18,267 12,970 9,208 6,538 200% DB MACRS Method over 7 years (29% annually)
Toyota Pickup Truck & Trailer (Section 179 of up to $25,000) 20,000 - - - - - IRS PUB 946 http://www.irs.gov/pub/irs-pdf/p946.pdf
Total Depreciation 20,913 18,267 31,237 22,178 15,746 11,180
Marketing / Advertising (4% of net sales) +7000 7,000 first year startup cost
Legal Fees 5,000 1,000 1,000 1,000 1,000 1,000 5,000 startup cost, assumed 1,000 annually
Utilities
Phone 17 200 200 200 200 200
Internet 75 900 900 900 900 900
Website Hosting & Registration 17 200 200 200 200 200
Total Utilities 109 1,300 1,300 1,300 1,300 1,300
Transportation Costs
Fuel (12mpg, 4 miles a day, 8 miles a day 2nd year) 50 900 1,035 1,191 1,369 1,575 Costs rising about 15% annuallly over last 10 years
Cost per mile = Cost per gallon / 12 * # of miles per day * 365 Per GasBuddy LLC: http://bit.ly/18ApWFZ
Interest Expense ($200,000, 5.25% over 7 years, monthly compound) 2,850 34,200 34,200 34,200 34,200 34,200
Credit Card Merchant Expense (2.75% of gross sales annually)
* Partial Year - Also Includes Expensed Startup Costs
# of 2-Hour Total Hours Week-day # of 2-Hour Total Hours Weekend-day Promos &
Tours / Day Per Week Sales (M-Thu) Tours / Day Per Week Sales (F-Su) Monthly Gross Discounts Monthly Net
Bar
Bik
e®
BU
SIN
ES
S
PL
A
N
Ap
pen
dix
6 - D
etailed
Sales F
oreca
st
Pag
e 36
Bar Bike LLC
Sales Forecast - Detailed Monthly
2015 - 2017
Week-Day ($175 / Hour) Weekend-Day ($200 / Hour)
2015
October
1
8 $
6,066.67
2
12 $
10,400.00
$
16,466.67
10%
$
14,820.00
2015 Summary $ 6,066.67 $ 10,400.00 $ 16,466.67 $ 14,820.00
2016
November 0.5 4 $ 3,033.33 1.5 9 $ 7,800.00 $ 10,833.33 5% $ 10,291.67
December 0.5 4 $ 3,033.33 1.5 9 $ 7,800.00 $ 10,833.33 5% $ 10,291.67
January 1 8 $ 6,066.67 1.5 9 $ 7,800.00 $ 13,866.67 5% $ 13,173.33
February 1 8 $ 6,066.67 1.5 9 $ 7,800.00 $ 13,866.67 5% $ 13,173.33
March 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 5% $ 18,525.00
April 1 8 $ 6,066.67 1.5 9 $ 7,800.00 $ 13,866.67 5% $ 13,173.33
May 1 8 $ 6,066.67 1.5 9 $ 7,800.00 $ 13,866.67 5% $ 13,173.33
June 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 5% $ 18,525.00
July 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 10% $ 17,550.00
August 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 10% $ 17,550.00
September 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 5% $ 18,525.00
October 2 16 $ 12,133.33 2.5 15 $ 13,000.00 $ 25,133.33 10% $ 22,620.00
2016 Summary $ 87,966.67 $ 111,800.00 $ 199,766.67 $ 186,571.67
2017
November 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 5% $ 18,525.00
December 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 5% $ 18,525.00
January 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 5% $ 18,525.00
February 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 5% $ 18,525.00
March 2 16 $ 12,133.33 2.5 15 $ 13,000.00 $ 25,133.33 5% $ 23,876.67
April 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 5% $ 18,525.00
May 1.5 12 $ 9,100.00 2 12 $ 10,400.00 $ 19,500.00 5% $ 18,525.00
June 2 16 $ 12,133.33 2.5 15 $ 13,000.00 $ 25,133.33 5% $ 23,876.67
July 2 16 $ 12,133.33 2.5 15 $ 13,000.00 $ 25,133.33 10% $ 22,620.00
August 2 16 $ 12,133.33 3 18 $ 15,600.00 $ 27,733.33 10% $ 24,960.00
September 2 16 $ 12,133.33 3 18 $ 15,600.00 $ 27,733.33 5% $ 26,346.67
October 2.5 20 $ 15,166.67 3.5 21 $ 18,200.00 $ 33,366.67 10% $ 30,030.00
2017 Summary $ 130,433.33 $ 150,800.00 $ 281,233.33 $ 262,860.00