The company anticipates that its first FEC will be located in Weber County, Utah facing the Majestic Wasatch Front Mountains. The company's FEC will be the most modern in the Northern Wasatch area.
Initially named the Wasatch Family Fun Center, the company anticipates that its facility will have a positive impact on the local environment and economy.
Mr. Bill Rameson, CEO of Palace Entertainment, the largest FEC chain in the world, has observed, "With most family entertainment centers having a 15 to 20 mile reach and in today's climate, you've got to understand what you're trying to accomplish. You've got to understand your market. You've got to understand construction. The attractions have to be both interactive and competitive."
I&B Investments proposes to choose its locations after thoughtful and detailed research and demographic profiling.
Consultants / Non-Partners (retained):
For Phase 1 the Start-up table reflects the cost of the center, activities and 8.5 +/- acres.
All Construction cost are included in the gross loan, but not detailed in the "Start-up Cost table" because these costs happen before the projected pro forma begins.
In the Start-Up Funding table there are two forms/types of investors listed:
The Seed Investors/Partners that come under #1-11, are considered the seed funding group and company management team. Their investment is not secure and carries a greater risk of loss. Therefore, the percentage of the company that this group receives for their investment equals a much greater company ownership than the secure partners do for their investment (these partners are also earning sweat equity shares for their involvement/efforts rather than wages during development).
The Start-up Investors/Secure Partners that come under #1 -4, are considered the start-up funding partners. They may or may not be part of the company's management team but are the voting and percentage controlling partners. Their investment will be escrowed and secure until the company has secured funding for the entire project. There is no risk of loss that is associated with these investors.
The Use of Funds table details many of the Start-up Expenses.
The first proposed site / property has two different aspects to it:
Therefore, within this business plan we will present a primary look at both possibilities, including the basic business structure, the start-up cost, the company's projected growth, the market, the local demographics, the economic impact, the industry trends, the construction costs, the development of the land, the oversight of operations during the development of the infrastructure and the companies future management and marketing team.
Our proposed site is the 44.6 +/- acres running along the west side of the Interstate, with three planned future (roads) accesses/easements.
The entire property is zoned commercial and the owner has stated that he supports our project and will carry a contract. Phase 1 would place our FEC just north of the other existing commercial establishments.
The latest traffic figures report an average daily traffic count of 30,685 cars exiting and entering the interstate at this junction and the interstate (north and south bound) carries an average daily traffic count of 56,490 cars. Source: Utah Department of Transportation.
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