销售预测和假设
美国行业内老爷车经销商的总市场规模为20亿美元，经营1974年的业务（IBISWorld，2020）。没有主要的市场份额超过5％，这与我们从竞争分析得出的结论是一致的。
在头三年中，我们计划专注于销售稀有老爷车，尤其是日本和欧洲的老爷车。到第三年年底，我们应该处于增长后期的阶段。一开始，我们计划通过降低劳动力成本和广告投资来吸引客户。老式车辆是可自行决定购买的，因此，个人可支配收入会对其产生重大影响。
在未来五年中，经典汽车经销商行业预计将受到国内经济增长的支持。在非常有利的增长率的支持下，我们计划在这五年期末将业务规模扩展到2500万美元的年收入。
古董车和古董车销售是我们的主要业务，我们计划在头三年出售日本和欧洲的汽车。我们预计到第三年年底的年收入将达到1800万美元，我们计划扩大业务并以委托方式出售第三方本地车辆。我们还计划通过拍卖出售稀有和有价值的古董车，这将进一步提高我们从第4年开始的盈利能力。随着我们进入快速增长阶段，从第3年到第4年的收入增长率预计为20％。根据授权的市场研究机构的说法，市场潜力也将不断提高。

Sales Forecast and Assumptions

The total market size of classic car dealers in the U.S. industry is $2 billion with 1974 businesses in operation (IBISWorld, 2020). There is no major player with a market share of greater than 5% which is consistent with our conclusion from competitive analysis.

In the first three-year period, we plan to focus on selling rare classic cars especially from Japan and Europe. We should be in the stage of late growth phase by the end of year three. In the beginning, we are planning to attract customers by undercutting the cost of labour and investment in advertising. The vintage vehicles are strongly discretionary purchases therefore it is significantly impacted by the individual disposable income.

Over the next five years, the classic car dealer industry is expected to be supported by the growth in domestic economy. We are planning to scale our business to the annual income of $25 million by the end of this five-year period supported by a very favourable growth rate.

Classic and antique car sale is our major business line, and we plan to sell Japanese and European cars for the first three years. With an expectation of an annual revenue of $18 million by the end of year 3, we plan to expand our business and sell third-party local vehicle on consignment. We also plan on selling rare and valuable antique vehicles via auctions, which will further boost our profitability from year 4. The growth rate of revenues from year 3 to year 4 are projected to be 20% as we are entering the rapid growth stage. And the market potential will be increasing as well according to authorized market research agencies.

人员配备
参照我们的运营计划，我们的业务结构是平坦的。 在第一阶段，我们计划招募3名销售代表，1名客户服务人员，1名财务人员，1名汽车修理工和6名采购人员。 我们计划派遣采购人员到日本和欧洲与我们的供应商进行谈判。 尽管有搬迁费用，但第一年我们的创始团队的总启动费用总计为90万美元。

Staffing

Referring to our operation plan, the structure of our business is flat. In the first stage, we plan to recruit 3 sales representatives, 1 customer service staff, 1 financial staff, 1 car mechanics, and 6 purchase employees. We plan on sending our purchase staff to Japan and Europe to negotiate with our suppliers. The total start-up expenses for our founding team total to $0.9 million for the first year despite of the relocation expenses. 

销货成本
我们业务的售出商品成本（COGS）包括车辆的购买价格，销售佣金，修改成本和仓储成本。 同时，与办公室租金，职工培训费有关的费用也计入当期费用。 在第一年，我们的业务预计销售的COGS为400万美元。 随着销售量的逐年增长，COGS有望增长。 在第5年内，我们预计总的COGS最高金额约为1300万美元。

Cost of Goods Sold

The cost of goods sold(COGS) for our business include the purchase price of vehicles, sales commissions, modification cost, and storage costs. In the meanwhile, the expenses related to rental cost of office, training cost for employees are also included in the period cost. In the first year, our business has projected a COGS sold of $4 million. And the COGS is expected to grow as sales volume increases year by year. During the year 5, we project the total COGS to be about $13 million at maximum.  

开办费用
i。资本支出
为了使我们的业务起步，我们将需要租用建筑物作为办公室和仓库。我们计划以10年的租赁协议来保护我们的仓库。前三年的月租金约为5,000美元，比第四年每年增长3％。同时，我们需要稍微改善租赁权，以建立展示厅来展示我们的汽车，这将产生50万美元的支出，其中包括购买家具和设备。当我们计划在本地招聘会员时，位置费用主要来自海外员工。由于必要时我们将在日本和欧洲建立本地办事处以对汽车状况进行现场调查，因此预计第一年的管理和位置费用为80,000美元。从第二年开始，相关费用将降至50,000美元。
ii。其他启动费用
我们用于其他启动费用的总预算，包括对呼叫中心，网站和广告的投资。当我们计划将古董车销售给高收入人群时，我们需要大量的促销和营销费用来吸引客户。因此，我们计划在头三年支出300万美元的年度费用，并从拥有稳固客户基础的第5年开始将其逐步降低至1美元至150万美元。我们的营销经理将负责PR活动和相关的促销活动。我们的使命是将客户和员工都当作客人在家中。因此，我们将客户的满意度作为重中之重，并希望与客户建立终身的关系。我们计划在第一年投资100万美元建立我们的客户服务中心，预计每年的费用约为60万美元。

Start-up Expenses

i. Capital Expenditures

To take our business off the ground, we will need to rent building as our office and warehouse. We plan to secure our warehouse with a lease agreement of 10 years. The monthly rental payment for the first three year is about $5,000 with an annual increase of 3% from the fourth year. In the meanwhile, we need slight leasehold improvements to build up show rooms to display our cars, and it will incur an outlay of 0.5 million including purchase of furniture and equipment. As we plan to recruit our members locally, the location expenses are mainly resulted from the overseas staff. As we will build local offices in Japan and Europe to carry out on-spot investigation of car conditions if necessary, the administration and location fees are expected to be $80,000 for the first year. From the second year, the related expenses will fall to $50,000.

ii. Other Start-up Expenses

Our total budget for other start-up expenses including investment in call centers, websites and advertising. As we plan on selling vintage cars to high income groups, we need a significant outlay for promotion and marketing to attract customers. Therefore, we plan to spend an annual expense of $3 million in the first three years, and gradually reduce it to $1 to $1.5 million from the year 5 when we have a solid customer base. Our marketing manager will be responsible for PR campaigns and related promotion events. Our mission is to treat both customers and employees as guests in our home. So, we put customers’ satisfaction as our priority and we want to build a life-long relationship with our customers. We plan to invest $1 million in the first year to build our customer service center and annually expense is expected to be around $0.6 million. 

Profitability Projections

According to our projections for revenues and COGS in the first three years, the profits are expected to grow to $9 million by the end of year 5. Even though the high price of our vehicles might lead to increase in accounts receivables rather than instant cash inflow, we are confident that our operation will function efficiently to manage our working capital.

Funding

Our start-up expenses total to $4.64. To secure our operation activities, we will need a total amount of 5 million given the purchase expenses in the beginning. My partner and I will be investing $1 million as a cash reserve for operations. We project our amount of funding needed to be $4 million to cover the start-up expenses and the partial COGS. And we plan to finance $2 million for our business via bank loans. Considering we are a start-up business, we will expect an annual interest rate of 7.5%. Annual interest expense will be $150,000. We have a strong projected profitability based on attainable results and reasonable assumptions. Even thought the annual interest payment is a large amount, we will cover it given the dollar value of our vehicles we sell.

Reference:

IBISWorld (2020). Retrieved from: https://www.ibisworld.com/united-states/market-research-reports/classic-car-dealers-industry/