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SWOT ANALYSIS
OPPORTUNITIES
STRENGHTS
WEAKNESSES
THREATS
Quality
our products have one of the highest quality on the market
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Individualization
we have products for both professionals and amateurs
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Support
you get the best recommendations and help from our well trained staff
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Experience
we have been on the market for more than 14 years
High price
we have a relatively high price on the market
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Marketing
we are not very well known on the market yet
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Volatility
our production has been volatile in the last 4 years, alternating between production volumes
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Availability
our products are not being delivered worldwide yet
New markets
recently we expanded to America, and we intend to continue expanding
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New products
in the near future we plan on launching a new line of production with bikes for children
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Higher quality
we intend to keep increasing the quality of our products; making them the best on the market
Competition
new, strong competitors on the market
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Innovation
new technologies could be implemented in time
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Sales
possible drop in demand for sales
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Recognition
dramatic loss of popularity on the market because of better marketing strategies from competitors
Taking over a company is never a simple task. The mission changed and the customer satisfaction became the priority for this company. Therefore, we wanted to reduce the stock turnover as much as possible in order to keep our delivery time relatively short. As a result, our plan was more than accomplished.
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However, delivering in a short time does not mean much when the quality is not up to par. What makes our product feel different, good different? An increased quality, which represents another aspect we wanted to implement. We were hoping to increase our customers satisfaction by delivering the best products. In order to accomplish that we constantly invested in R&D, increasing the productivity of our operational work. Furthermore, by selling many old machines, that require too many workers and materials, we bought a few new machines, making our production much more efficient. One more fact that contributed to a great quality increase is switching to a higher level or raw materials. Combined with a decrease in energy and waste consumption, the cost of production reduced considerably. Followed by a lot of testing by top athletes as well as amateurs, we discovered that we are on the right track in regard to our quality.
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During the last four years we wanted to increase our production. We managed to successfully increase it until year 2013, when we took a larger risk that did not do us any favors. Because of it, we had an undesirable degree of capacity of 100% that did not permit us to produce as much as we originally planned. As a consequence, many previously good ratios decreased as well, like ROI, ROA, the change in net sales and the operational cash flow as well as the profit. With a final loss of -€ 8.537.000 in year 14, our company suffered a temporary defeat.
As a conclusion, there are never losses, only lessons, and we plan to come back stronger than ever, doing our best for our customers.
Our collection of bicycles we've manufactured with passion.
OUR PRODUCTS
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ABOUT US
Hi there! We are a fictional company that sells bikes. We sell products for both professional and amateur cyclists. Our company strives for the best quality at a reasonable price, using the best materials in order to bring you a reliable, safe and above all a complete and enjoyable bicycle. In our company we like to lead by example, we use our bicycles and would not recommend them if we truly did not believe it would bring you nothing but a smile.
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SMART
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Investing large amounts into waste reducing equipment is our way of saying 'we care!'.
RUBBER RECYCLING
We must congratulate our friends at Formula 1 for their recycling of rubber. We have joined McLaren in order to help this cause. 25% of the tires this F1 team uses in competition are reused to make high quality bicycle tires.
CONTRIBUTION TO THE COMMUNITY
To stimulate people to use their bicycle in Brussels, our hometown, we give cycling lessons to young kids. They can learn how to ride their bike and move safely in traffic.
DONATING TO CHARITY
We ask our customers to give back old bicycles, which we will work on and give to less fortunate children in different orphanages. We hope to see you contribute to this if possible.
SUSTAINABLE DEVELOPMENT
CO2 is already history for our company! We aim to use only renewable energy through solar panels and windmills in the next few years.
BIODEGRADABLE PAINT
WASTE REDUCTION
GREEN ENERGY
We take extreme precaution to every detail and even the small things make a difference in the long run. This is why we use biodegradable paint as a small step for this company but a big step for mankind!
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MISSION & VISION
Our duly sworn mission is to provide the best possible experience for you, our customer. What you look for in a bike is what we request from our engineers and staff. We strive for a better production volume but only if we can keep our customers satisfied. We want to increase our market share because good news should travel fast and far, just like you on our bikes! Our vision is that each ride you go on is not just an occurrence, but an experience.
MAKE EVERY STRIDE COUNT.
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MEET THE TEAM
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MANAGING DIRECTOR
Emilien Boulard
Jana Van Vynckt
PRODUCTION & LOGISTICS MANAGER
Petar Vlahovic
HR MANAGER
Nele Van de Maele
FINANCIAL MANAGER
Otilia Lazarenco
MARKETING MANAGER
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FREQUENTLY ASKED QUESTIONS
How can I contact the company?
Contact us by mail at info@bikesmart.com or by phone on 02/394.05.60. Our customer service will gladly help you with your questions.
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How do I buy a bike?
First, select the bike you desire and click on “add to cart”. It will be added to your shopping cart. After you selected your product, follow the instructions to fulfil the payment.
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What do I do if my bike is broken?
If there are any problems with your bicycle, please return it to the nearest dealer. We will take care of it.
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How long will it take for my order to arrive?
Please allow 3 to 5 business days for order processing and shipment. The estimated delivery time for the United States is 5 to 8 business days.
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How much are the shipping costs?
Shipments in Belgium are free. For shipments to the United States we count an additional 20 EUR fee.
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Will I receive a full refund if I return my bike?
All items returned 14 days after delivery are fully refunded. Returns outside this delay are not accepted.
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What are the payment options?
We accept Visa, MasterCard, American Express and PayPal.
After selecting your preferred payment method, you will be redirected to the chosen payment gateway. Once your payment has been completed, you will receive your payment confirmation by e-mail.
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I have a problem with my payment, what should I do?
If you have any trouble to complete the payment, contact our helpdesk by mail or phone.
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How can I stay informed about the new BikeSmart products?
Make sure to like our social media pages on Facebook and Instagram. These are the easiest ways to stay informed about us and our most recent products. You can also subscribe to our newsletter.
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How long is my bike covered by BikeSmart’s warranty?
Every BikeSmart bicycle has a warranty of 5 years.
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FINANCE
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PRODUCTION & LOGISTICS
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HUMAN RESOURCES
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MARKETING
THE NUMBERS
During the four financial years, BikeSmart has undergone a multitude of decisions and compromises, which had a great impact on the financial health of the company. Because of a young but eager to learn management team, our company went through positive, productive times, as well as through less pleasant periods.
During the first financial year, Y11, the majority of our company’s ratios dropped, except the personal expenses that relatively doubled. This effect was caused by the decision to produce less during that year, and use more of the stock that we already had stored, in order to reduce some of our costs. It created a loss in productivity and other important ratios, but only by giving us the financial advantage of having a smaller stock rotation and less expenses related to stock storage.
Because of the previous decision, starting with year 12 we decided to concentrate on increasing our production and maintaining a relatively lower stock volume and stock rotation. We decided to produce enough products that would allow us to cover the demand, and leave a stock of 500-800 units per product. By doing that, most of our ratios increased, ROI being up to 10%, and the productivity increasing substantially as well. The degree of capacity became 96%, which is close to the target percentage that we set of 90-95% and the stock rotation was of an exemplar 81 days for Product A and 59 days for Product B. Our management team finally went on the right track and all managers started to feel more confident.
In Y13 the situation changed when we were proposed the opportunity to enter the American market, a decision that presumes much risk, responsibility and calculations. After many discussions, we decided to participate on the American market only with Product A. It was the product that we concentrated on the most, and we regularly worked on its quality by investing in R&D and in training the workers that are producing it. We also bought many new machines that would increase our company’s productivity. Furthermore, after analyzing the price range that was demanded by the American market, we decided that Product A will be a competitive good on the market, with a very good price-quality ratio. We also decided that our company is not able to supply the entire demand of both markets, so we went to the American market targeting just a partial market share. In order to finance all our activity and eliminate the short term loan that was very costly, we decided to take a new long term loan of 3.000.000 EUR and emit 10.000 shares.
The result was a positive ROE for the first time in the last few years, with a 2,3 % increase. The change in net sales increased substantially, especially for Product B, that experienced an additional 72%, an unprecedented result. Thus, productivity rose and operational expenses decreased because of a constant investment in R&D, training of the personnel and the procurement of new machines. We also assigned an important amount of money to equipment that would decrease the energy and waste consumption, decreasing it by respectively 14,4% and 19,2%. Everything started to feel naturally right, everyone started to feel the rhythm of work and production was going better than ever.
The final year Y14 is the one that took a hit, because of a rather risky decision took by the managers. In order to increase productivity and be able to supply the European and the American market better, we decided to increase the capacity of production of our company. In order to do that, we planned to sell 15 of the old machines, and buy only 3 new ones, making our workers to produce in shifts, but on fewer and more productive machines. On paper and calculations our idea worked, but what all our managers missed is the problem of how possible would it be to put our plan onto action.
After receiving the results of Y14, we realized that 182 people could not work on so few machines, and thus all our representative ratios declined dramatically. Because of that, it was impossible to produce all the planned volume, and our company only made all the possible Products A, until the degree of capacity utilization was 100%. As a result, Product B could not even be produced.
ROI went to an all-time low of -14% as well as ROE at -47 %. We also witnessed a decrease in productivity, sales, operational cash flow, stock rotation and a loss of -€ 8 537 000 in the end of Y14. The one plan that was realized is the planned decrease of energy and waste consumption.
As a conclusion, we can say that we experienced during the 4 years both highs and lows, but the most important is that we learned many lessons. We are now sure that plans need a rather realistic approach, and a small miscalculation can have a great impact. All in all, our managers are happy to have had the opportunity to do everything in their power to achieve the best results possible.