Abbey Electronic Services

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Electronics Repair Business Plan

Company Summary

Abbey Electronic Services is a start-up business managed by Richard Abbey. The economic growth of Cherry Grove in the last several years has resulted in a revitalized community with numerous new services and businesses. As a result, the area's need for reliable and convenient electrical repair services has substantially risen as well. Abbey Electronic Services will position itself to capitalize on the growing need of the middle- and upper-class market for quality electrical repair service in the metropolitan area. The company will be privately owned by Richard Abbey, with most of the additional funding coming from a ten year SBA loan.

2.1 Start-up Summary

Richard Abbey will invest personal funds. The remainder of the required financing will come from a ten-year Small Business Administration (SBA) loan. The following table and chart show projected initial start-up costs Abbey Electronic Services.

Start-up Funding
Start-up Expenses to Fund $40,800
Start-up Assets to Fund $109,200
Total Funding Required $150,000
Assets
Non-cash Assets from Start-up $100,000
Cash Requirements from Start-up $9,200
Additional Cash Raised $0
Cash Balance on Starting Date $9,200
Total Assets $109,200
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $100,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $100,000
Capital
Planned Investment
Richard $50,000
Investor 2 $0
Other $0
Additional Investment Requirement $0
Total Planned Investment $50,000
Loss at Start-up (Start-up Expenses) ($40,800)
Total Capital $9,200
Total Capital and Liabilities $109,200
Total Funding $150,000
Start-up
Requirements
Start-up Expenses
Legal $3,000
Stationery etc. $300
Rent $1,000
Start-Up Inventory $15,000
Leased Equipment $1,500
Start-Up Equipment $20,000
Other $0
Total Start-up Expenses $40,800
Start-up Assets
Cash Required $9,200
Other Current Assets $0
Long-term Assets $100,000
Total Assets $109,200
Total Requirements $150,000

2.2 Company Ownership

Abbey Electronic Services is privately owned by Richard Abbey.