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Transcript of Mycycles
- In 2011, the Company President of LameBikes Inc announced his intention to retire in 3 years time.
- Vinnie Laudicina and Gayle Tadler were selected as his successor team.
- Starting as Marketing Managers, over the next few years they were gradually given more control over the company, eventually becoming the Executive Officers.
Definition of Mycycles
- Original term to describe the a person's ideal bicycle - Websters Dicionary, 2015
- Combines the word My and Cycle to incorporate a whole new level of individuality in bicycles
"Its not just a bicycle, its MYcycle." The mission of Mycycles is to create good quality bicycles to reach a variety of customers from all walks of life in order to introduce and expose them to the wonders of cycling.
Mycycles vows to:
1. Make products accessible to anyone through reasonable pricing
2. Be favorably available to active and prospective customers through public relations,
3. Work to provide and increase value for shareholders,
4. Treat all employees as well as the environment with respect.
Mycycles strives to provide everyone with a wonderful cycling experience that will work to increase and perpetuate the popularity of cycling as both a leisurely activity as well as a competitive sport. Objective #1 Plan - To become the leader in market share within the biking industry within five years.
Objective #2 Plan - To have its youth bicycle to be selling a greater amount of units than the mountain bicycle within seven years from now.
Objective #3 Plan - To distribute a dividend of $1.00 per share to shareholders within eight years.
Objective #4 Plan - To release a road bicycle product within ten years. Mycycles intends to be a prominent force in all three primary bicycle segments with the goals of obtaining large market share and giving shareholders value for their investments.
Diversified firm competes in all three segments of the bicycle market
mountain, youth, and road.
Incorporated Competitive with Penetration Pricing: lower end of the medium range for the mountain and youth segments.
Because these segments are volume sales driven, the firm believes reasonable prices will appeal to consumers and lead to increased revenue.
Aggressive marketing campaign.
By the time the firm expands into the road bicycle market, Mycycles will likely price their road bicycles competitively with those of other road bicycles in the market. Products Advertising MycycleKid Other Share Holder Value - $60.26
Net income - $3.8 million
Debt to equity - .10
Profit Margin - 24.9%
Gross Margin - $15.4 million
Market Share - 15.1% MyMountain MyRoadcycle Introduced year 2020
$600 Introduced year 2015
$350 Introduced year 2021
$1750 Best interest of
to increase interest in investment
consumer base Aggressive Marketing Capacity Branding Capacity Efficiency Quality Stock Geared mostly towards production to effectively use resources to build a strong brand awareness associated with our product - Started issuing dividends in 2016 with an average annual increase of $.50
- Began buying back shares in 2021 to increase demand for stock
Final number of shares - 900,000
Final Dividend - $5.00 $400,000 to $1.8 mil .83 Production 84%
Idle time 5% .88 Expanded Products Issued Dividends
then Repurchased Stock Original MyMountain Introduced year 2012
$700 Current Ratio: 5.85
Profit Margin: 24.90%
Return on Investment: 39.26% Both team members plan to collaborate in all aspects of running the business Vinnie Laudicina - oversees the accounting and financial data
Gayle Tadler - is in charge of the marketing, distribution, production Market Share
Road Bike Increase Market Share
Continue to expand in road bike market
Phase Out Original MyMountain
New Youth Bike
Don't be afraid of debt
Increase Shareholder Value Groundwork- slow growth, reserved marketing, accumulating cash
Peak Growth- youth bike takes off, aggressive marketing, more cash, dividend
Bump in the Road- new mountain bike, inaccurate forecast, cash drained, lower profits
Recovery and Moving Forward- new road bike, increased SHV, better cashflow, net income increasing