Safe Kids Child Care is a start-up managed by two partners. Both have extensive experience in the child care industry, and have maintained excellent reputations in this same industry. In addition, these two partners are capable of handling the sales/management and finance/administration areas, respectively.
This business will start out as a simple proprietorship, owned by its founders. As the operation grows, the owners will consider re-registering as a limited liability company or as a corporation, whichever will better suit the future business needs.
The company founders, Ms. Child and Ms. Freelander, will handle day-to-day operations of the business and will work collaboratively to ensure that this business venture is a success.
It is estimated that the start-up expenses will be $3,000 (including legal costs, advertising, and related expenses). An additional amount of $67,000 will be required as start-up assets. The start-up costs are to be financed in equal portions by the owners' personal funds and by a $30,000 5-year loan.