Construction Business Plan

Fosse Commercial Contractors

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Company Summary

Fosse Commercial Contractors, LLC began in 1985 when Mr. Robert Fosse began his own company, Fosse Painting and General Construction in the Houston area. In 1993 the original company was merged with another small-scale local company, West General Contractors, and the company began to bid successfully for larger scale projects.

In 2002 the company's management came to the conclusion that the firm had grown sufficiently to alter its primary target market segment from the residential construction segment to the higher margin office and commercial construction segment. The company plans to implement this change by the middle of Year 1.

As part of its growth and altered focus, FCC is planning on changing its charter from a limited liability company to a class C corporation registered in Texas, allowing greater access to investment funds to fuel its growth.

2.1 Company History

Fosse Commercial Contractors, LLC began in the Houston area in 1985 when Mr. Robert Fosse, who had worked in the residental construction business for ten years began his own company, Fosse Painting and General Construction in the Houston area. For the next eight years the company grew slowly, working mostly on small scale residential projects while gaining a reputation for quality services and reliability. In 1993 the original company was merged with another small-scale local company, West General Contractors and the company began to bid successfully for larger projects. The company maintains a General Contractor's license in the state of Texas.

In 2002 the company's management came to the conclusion that the firm had grown sufficiently to alter its primary target market from the residential construction segment to the higher margin office and commercial construction segment. The company plans to implement this change by the middle of 2004.

Past Performance
2001 2002 2003
Sales $523,276 $547,870 $571,976
Gross Margin $94,190 $98,124 $111,364
Gross Margin % 18.00% 17.91% 19.47%
Operating Expenses $41,129 $43,063 $44,957
Collection Period (days) 42 45 48
Inventory Turnover 2.00 2.00 2.00
Balance Sheet
2001 2002 2003
Current Assets
Cash $36,705 $38,430 $40,428
Accounts Receivable $18,215 $22,403 $23,157
Inventory $39,240 $41,083 $43,220
Other Current Assets $37,300 $35,661 $37,991
Total Current Assets $131,460 $137,577 $144,796
Long-term Assets
Long-term Assets $18,540 $19,411 $20,421
Accumulated Depreciation $6,000 $7,000 $8,000
Total Long-term Assets $12,540 $12,411 $12,421
Total Assets $144,000 $149,988 $157,217
Current Liabilities
Accounts Payable $23,300 $22,600 $25,400
Current Borrowing $17,000 $18,000 $20,000
Other Current Liabilities (interest free) $20,600 $23,162 $21,677
Total Current Liabilities $60,900 $63,762 $67,077
Long-term Liabilities $17,438 $18,164 $19,039
Total Liabilities $78,338 $81,926 $86,116
Paid-in Capital $0 $0 $0
Retained Earnings $65,662 $68,062 $71,101
Earnings $0 $0 $0
Total Capital $65,662 $68,062 $71,101
Total Capital and Liabilities $144,000 $149,988 $157,217
Other Inputs
Payment Days 15 15 15
Sales on Credit $156,983 $164,361 $171,593
Receivables Turnover 8.62 7.34 7.41

2.2 Company Ownership

Fosse is a Limited Liability Company registered in the state of Texas. Fosse Commercial Contractors, LLC is exclusively owned by Mr. Robert Fosse (50%) and his partner, Michael West (50%). The company is expecting to alter to a Class C corporation chartered in Texas in 2004. This will create greater investment opportunities through the acquisition of investment capital from a limited number of shareholders.

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Past Performance
2001 2002 2003
Sales $523,276 $547,870 $571,976
Gross Margin $94,190 $98,124 $111,364
Gross Margin % 18.00% 17.91% 19.47%
Operating Expenses $41,129 $43,063 $44,957
Collection Period (days) 42 45 48
Inventory Turnover 2.00 2.00 2.00
Balance Sheet
2001 2002 2003
Current Assets
Cash $36,705 $38,430 $40,428
Accounts Receivable $18,215 $22,403 $23,157
Inventory $39,240 $41,083 $43,220
Other Current Assets $37,300 $35,661 $37,991
Total Current Assets $131,460 $137,577 $144,796
Long-term Assets
Long-term Assets $18,540 $19,411 $20,421
Accumulated Depreciation $6,000 $7,000 $8,000
Total Long-term Assets $12,540 $12,411 $12,421
Total Assets $144,000 $149,988 $157,217
Current Liabilities
Accounts Payable $23,300 $22,600 $25,400
Current Borrowing $17,000 $18,000 $20,000
Other Current Liabilities (interest free) $20,600 $23,162 $21,677
Total Current Liabilities $60,900 $63,762 $67,077
Long-term Liabilities $17,438 $18,164 $19,039
Total Liabilities $78,338 $81,926 $86,116
Paid-in Capital $0 $0 $0
Retained Earnings $65,662 $68,062 $71,101
Earnings $0 $0 $0
Total Capital $65,662 $68,062 $71,101
Total Capital and Liabilities $144,000 $149,988 $157,217
Other Inputs
Payment Days 15 15 15
Sales on Credit $156,983 $164,361 $171,593
Receivables Turnover 8.62 7.34 7.41