The Bike Shop # 2
You are opening a bike shop and there are certain things you have to do. Follow the instructions carefully and write down what you do so that it is clear. List all of the things you buy remembering that you will buy lots of one thing rather than ones of lots of things !
1. You start with £5,000 to spend on stock (things to sell in the shop)
2. You must spend 25% on clothing, 50% on bikes 12.5% and helmets and 12.5% on other things.
Tip....... to find 25% of 5,000 using the calculator = 5,000 X 25 %
3. Add 20% to the cost of each group of items
Tip....... to add 20% using the calculator = amount + 20 %
4. Work out how much profit you will make when you sell these items.
Tip....... Take the buying prices away from the selling prices, this equals profit.
5. The money you make can now be used to buy more stock. You choose what to buy.
6. Keep making a profit and watch how the shop starts to make more and more money !
You could try different percentages or have a sale where you make less profit.