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Hamlin and Park Design

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Company Summary

Courtney Hamlin and Katherine Park will start Hamlin and Parks Design to offer a wide range of interior design services to clients in southwest Claremont. The company has a high level of expertise in interior design and will provide superior personal services to all clients. Courtney and Katherine take pride in knowing that 50% of their business comes from repeat clients and their referrals.

Our responsibility as interior design professionals is to take the client's design goals and utilize our skills and resources to exceed the client's expectations for service, value, functionality, and beauty.

2.1 Company Ownership

The owners and designers of Hamlin and Park Design are Courtney Hamlin and Katherine Park.

2.2 Start-up Summary

Courtney Hamlin and Katherine Park will invest $60,000 in Hamlin and Park Design. They will also secure a $50,000 loan.

The following table and chart show projected initial start-up costs for Hamlin and Park Design.

Start-up Funding
Start-up Expenses to Fund $20,550
Start-up Assets to Fund $79,450
Total Funding Required $100,000
Assets
Non-cash Assets from Start-up $20,000
Cash Requirements from Start-up $59,450
Additional Cash Raised $0
Cash Balance on Starting Date $59,450
Total Assets $79,450
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $30,000
Accounts Payable (Outstanding Bills) $10,000
Other Current Liabilities (interest-free) $0
Total Liabilities $40,000
Capital
Planned Investment
Investor 1 $30,000
Investor 2 $30,000
Additional Investment Requirement $0
Total Planned Investment $60,000
Loss at Start-up (Start-up Expenses) ($20,550)
Total Capital $39,450
Total Capital and Liabilities $79,450
Total Funding $100,000
Start-up
Requirements
Start-up Expenses
Legal $900
Stationery etc. $2,000
Brochures $4,000
Insurance $200
Rent $3,000
Answering Service $200
Utilities Start Up $250
Office Furnishings $4,000
Expensed Equipment $3,000
Business Software $2,000
Office Supplies $1,000
Total Start-up Expenses $20,550
Start-up Assets
Cash Required $59,450
Other Current Assets $20,000
Long-term Assets $0
Total Assets $79,450
Total Requirements $100,000
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Start-up Funding
Start-up Expenses to Fund $20,550
Start-up Assets to Fund $79,450
Total Funding Required $100,000
Assets
Non-cash Assets from Start-up $20,000
Cash Requirements from Start-up $59,450
Additional Cash Raised $0
Cash Balance on Starting Date $59,450
Total Assets $79,450
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $30,000
Accounts Payable (Outstanding Bills) $10,000
Other Current Liabilities (interest-free) $0
Total Liabilities $40,000
Capital
Planned Investment
Investor 1 $30,000
Investor 2 $30,000
Additional Investment Requirement $0
Total Planned Investment $60,000
Loss at Start-up (Start-up Expenses) ($20,550)
Total Capital $39,450
Total Capital and Liabilities $79,450
Total Funding $100,000
Start-up
Requirements
Start-up Expenses
Legal $900
Stationery etc. $2,000
Brochures $4,000
Insurance $200
Rent $3,000
Answering Service $200
Utilities Start Up $250
Office Furnishings $4,000
Expensed Equipment $3,000
Business Software $2,000
Office Supplies $1,000
Total Start-up Expenses $20,550
Start-up Assets
Cash Required $59,450
Other Current Assets $20,000
Long-term Assets $0
Total Assets $79,450
Total Requirements $100,000