Auto Repair Shop Business Plan

F and R Auto Repair

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Company Summary

The company will be a partnership with John Ford and Michael Ronald each owning 50% of the company. The company will be a limited liability company registered in the state of Washington. The firm will have facilities on 1312 1st Ave NW in Ballard, a neighborhood of Seattle. The facilities will contain a two-bay garage, office space and storage space for tools, parts, etc.

The company is seeking a  loan in order to finance the start of operations for the company. Each of the owners will be putting up some of their own capital as equity.

2.1 Start-up Summary

The data obtained for the start-up comes from research done in the Seattle area with other small mechanic shops who have started their own business. Inflation has been taken into account between the estimates of these fellow business owners (and when they started) and the current prices for expensed items.

Much of the equipment to go into the facilities such as tools, air compressors, etc., are currently owned by the two partners.

Start-up
Requirements
Start-up Expenses
Legal $500
Stationery etc. $200
Advertising $600
Phone $200
Insurance $800
Rent $4,000
Utilities $200
Computer $2,000
Other $600
Total Start-up Expenses $9,100
Start-up Assets
Cash Required $2,900
Start-up Inventory $0
Other Current Assets $0
Long-term Assets $20,000
Total Assets $22,900
Total Requirements $32,000
Start-up Funding
Start-up Expenses to Fund $9,100
Start-up Assets to Fund $22,900
Total Funding Required $32,000
Assets
Non-cash Assets from Start-up $20,000
Cash Requirements from Start-up $2,900
Additional Cash Raised $0
Cash Balance on Starting Date $2,900
Total Assets $22,900
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $20,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $20,000
Capital
Planned Investment
John Ford $6,000
Michael Ronald $6,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $12,000
Loss at Start-up (Start-up Expenses) ($9,100)
Total Capital $2,900
Total Capital and Liabilities $22,900
Total Funding $32,000
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