Prepare a draft report that addresses what are in your opinion the 3 most important realities of this situation (based on the materials in the business for sale advertisement) that the banker will certainly be looking for to be addressed in the Business Plan. You may make reasonable, significant assumptions. You must state them and explain why you feel they are both reasonable and significant. For EACH Reality, in your own words: a) Describe the Reality and connect it to the information provided to you. [2 points]; b) Explain why the banker would be interested in what the Business Plan has to say about this particular Reality; [4 points] c) Outline what the Business Plan should address with respect to this particular Reality [4 points]. Business for sale [adapted from a real bike business for sale]. Bike and accessories store for sale in a town of 400,000 residents. In business for over 15 years, this store has a good reputation amongst local families and serious bikers in the town and surrounding area. There is a good base of loyal customers. There is much repeat business. The store sells a broad range of bicycles and related accessories including sports clothing. Products are all very good quality. The entire inventory of bicycles as well as all parts on hand and all retail goods inventory is included in the sale. This Bike store is locally known for excellent customer service and knowledgeable staff. Jim Baker, the owner goes sking during the winter months when the store remains open with a skeleton staff. Spring, Summer and Fall always make up for the winter slowdown in sales. There is much potential for expansion and growth. Although there is competition from larger chains such as Walmart and Canadian Tire, the "personal touch" is our strength. Our business has been built on personal connections with our customers. We have a Facebook page and a Website. The current owners are planning to retire and move to a warmer climate after the sale. Most of the current staff has been with the business since it began and all are dedicated to the well-being of the business. The store operates from rented premises. The lease will be negotiable on expiry in May, 2023. All serious offers considered. Terms: Cash (no vendor financing). Closing August 31, 2023. Prepare a draft report that addresses what are in your opinion the 3 most important realities of this situation (based on the materials in the business for sale advertisement) that the banker will certainly be looking for to be addressed in the Business Plan. You may make reasonable, significant assumptions. You must state them and explain why you feel they are both reasonable and significant. For EACH Reality, in your own words: a) Describe the Reality and connect it to the information provided to you. [2 points]; b) Explain why the banker would be interested in what the Business Plan has to say about this particular Reality; [4 points] c) Outline what the Business Plan should address with respect to this particular Reality [4 points]. Business for sale [adapted from a real bike business for sale]. Bike and accessories store for sale in a town of 400,000 residents. In business for over 15 years, this store has a good reputation amongst local families and serious bikers in the town and surrounding area. There is a good base of loyal customers. There is much repeat business. The store sells a broad range of bicycles and related accessories including sports clothing. Products are all very good quality. The entire inventory of bicycles as well as all parts on hand and all retail goods inventory is included in the sale. This Bike store is locally known for excellent customer service and knowledgeable staff. Jim Baker, the owner goes sking during the winter months when the store remains open with a skeleton staff. Spring, Summer and Fall always make up for the winter slowdown in sales. There is much potential for expansion and growth. Although there is competition from larger chains such as Walmart and Canadian Tire, the "personal touch" is our strength. Our business has been built on personal connections with our customers. We have a Facebook page and a Website. The current owners are planning to retire and move to a warmer climate after the sale. Most of the current staff has been with the business since it began and all are dedicated to the well-being of the business. The store operates from rented premises. The lease will be negotiable on expiry in May, 2023. All serious offers considered. Terms: Cash (no vendor financing). Closing August 31, 2023