Visigoth Imports, Inc.

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Import Export Business Plan

Company Summary

Visigoth Imports will be a limited liability partnership registered in the state of Delaware for tax purposes. Its founder is Mr. Frank Curtiss, a former master distributor with Fisher-Mills. Mr. Curtiss has brought together a highly respected group of individuals who are well versed in the various aspects of foreign trade processes.

The company has a limited number of private investors and does not plan to go public. The company has its main offices in Wenatchee, Washington. The facilities include conference rooms and office spaces. The company expects to begin offering its services in June.

The company's main clients will be small import shops in the Leavenworth area and start-up farms throughout the state. By focusing on small niche market entrepreneurs, we believe we will be able to provide superior and more efficient service than other import/export firms.

2.1 Company Ownership

The company will have a number of outside private investors who will own 27% of the company's shares. The rest will be owned by the senior management including Mr. Frank Curtiss, (25%), Ms. Hannah Mills (20%), Mr. Steve Iltheus (20%), and Mr. Pierce Bolm (8%). All other financing will come from loans.

2.2 Start-up Summary

Start-up assets required include expenses and cash needed to support operations until revenues reach an acceptable level. Most of the company's liabilities will come from outside private investors and management investment, however, we have obtained current borrowing from Bank of America Commercial Investments, the principal to be paid off in two years. A long-term loan through Charter Bank of Nieurich will be paid off in ten years.

Start-up Expenses
Legal $2,000
Insurance $1,000
Utilities $200
Rent $2,000
Accounting and bookkeeping fees $2,000
Expensed equipment $2,000
Advertising $4,000
Other $8,000
Total Start-up Expenses $21,200
Start-up Assets
Cash Required $38,550
Other Current Assets $15,000
Long-term Assets $10,000
Total Assets $63,550
Total Requirements $84,750
Start-up Funding
Start-up Expenses to Fund $21,200
Start-up Assets to Fund $63,550
Total Funding Required $84,750
Non-cash Assets from Start-up $25,000
Cash Requirements from Start-up $38,550
Additional Cash Raised $0
Cash Balance on Starting Date $38,550
Total Assets $63,550
Liabilities and Capital
Current Borrowing $9,000
Long-term Liabilities $12,000
Accounts Payable (Outstanding Bills) $2,000
Other Current Liabilities (interest-free) $8,000
Total Liabilities $31,000
Planned Investment
Mr. Frank Curtiss $15,000
Ms. Hannah Mills $13,000
Mr. Steve Iltheus $13,000
Mr. Pierce Bolm $5,000
Others $7,750
Additional Investment Requirement $0
Total Planned Investment $53,750
Loss at Start-up (Start-up Expenses) ($21,200)
Total Capital $32,550
Total Capital and Liabilities $63,550
Total Funding $84,750