GlobeSpan Meeting Planners, Inc.

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Global Event Planning Business Plan

Company Summary

GlobeSpan, in strategic alliance with HelmsBriscoe, will provide a time-saving and valuable event planning service to companies who have a lack of destination/meeting planning knowledge, are understaffed or unable to take on the time consuming task of site selection/meeting planning, or want to take advantage of our free expert site selection. With hotel/resort partners worldwide, as well as cruise/air/production/program planning partners at Resource One, the best fit for the clients' needs will be found while generating maximum revenue for GlobeSpan.

3.1 Company Ownership

GlobeSpan Meeting Planners, Inc. will be a privately held Arizona S corporation based in Goodyear. The company is currently in the process of filing for incorporation with the Arizona Corporation Commission. The owners, Tracey Latkovic, former Director of sales of a major Arizona resort, and Kerry Feltenberg, former director of catering/conference services of a major Arizona resort, will have equal shares in the company.

3.2 Start-up Summary

Start-up costs are $4,800 and will be financed by the owners. An additional $50,000 is needed to cover the first six months of client searches. The following chart and table outline the assumed distribution of expenses, assets, investment, and loan liability.

Start-up
Requirements
Start-up Expenses
Incorporation Fees $150
Accountant $300
Office Equipment $2,500
Software $350
Communication Lines 3 per office - 6 total $400
Meeting Planning Directories $700
Other $400
Total Start-up Expenses $4,800
Start-up Assets
Cash Required $50,000
Other Current Assets $0
Long-term Assets $0
Total Assets $50,000
Total Requirements $54,800
Start-up Funding
Start-up Expenses to Fund $4,800
Start-up Assets to Fund $50,000
Total Funding Required $54,800
Assets
Non-cash Assets from Start-up $0
Cash Requirements from Start-up $50,000
Additional Cash Raised $0
Cash Balance on Starting Date $50,000
Total Assets $50,000
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $50,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $50,000
Capital
Planned Investment
Kerry Feltenberg $2,400
Tracey Latkovic $2,400
Other $0
Additional Investment Requirement $0
Total Planned Investment $4,800
Loss at Start-up (Start-up Expenses) ($4,800)
Total Capital $0
Total Capital and Liabilities $50,000
Total Funding $54,800

3.3 Company Locations and Facilities

The company will be located in Goodyear, Arizona, with a second office in Avondale, Arizona. The owner's home offices will be linked electronically to ensure real-time communication.