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SIC 1542 Building Cnstrctn - General Contractors & Operative Builders - Nonresidential construction, nec
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Construction Business Plan
Fosse Commercial Contractors
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.
