Outdoor Gear Designer Business Plan

Simplistic Labyrinth Design Studio

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Company Summary

Simplistic Labyrinth Design Studio is a company that designs products, primarily outdoor gear, that is then licensed.  Some of the products are designed and then a licensee is searched for to purchase the design.  Other times a manufacturer will come to Simplistic and ask them to develop a product for them. 

Simplistic Labyrinth Design Studio was founded by Ikan Fabreekate and is based out of Ikan's studio in his home in Portland, Oregon. Simplistic Labyrinth Design Studio's revenue is from license fees and one-off prototypes.  Simplistic Labyrinth Design Studio will reach profitability by month four and will have yearly revenues of $6,000 for year two.

2.1 Company Ownership

Simplistic Labyrinth Design Studio is a sole proprietorship owned by Ikan Fabreekate.

2.2 Start-up Summary

Simplistic Labyrinth Design Studio will incur the following start-up expenses:

  • Computer system with CD-RW, printer, Microsoft Office, QuickBooks Pro, CAD/CAM software, and a DSL connection.
  • A commercial walking foot sewing machine.
  • A serger.
  • A heat press for applying 2-ply hot tape, 3-ply hot tape, polyurethane hot tape, and nitrile hot tape.
  • Hot knife.
  • Bar tacker.
  • Assorted threads, needles, scissors, and fabric cutters.
  • Extra phone line.
  • Web page development.

Please note that the following items which are considered assets to be used for more than a year will labeled long-term assets and will be depreciated using G.A.A.P. approved straight-line depreciation method.

Start-up Funding
Start-up Expenses to Fund $200
Start-up Assets to Fund $17,800
Total Funding Required $18,000
Assets
Non-cash Assets from Start-up $6,350
Cash Requirements from Start-up $11,450
Additional Cash Raised $0
Cash Balance on Starting Date $11,450
Total Assets $17,800
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Capital
Planned Investment
Ikan $18,000
Investor 2 $0
Other $0
Additional Investment Requirement $0
Total Planned Investment $18,000
Loss at Start-up (Start-up Expenses) ($200)
Total Capital $17,800
Total Capital and Liabilities $17,800
Total Funding $18,000
Start-up
Requirements
Start-up Expenses
Legal $100
Stationery etc. $100
Other $0
Total Start-up Expenses $200
Start-up Assets
Cash Required $11,450
Other Current Assets $0
Long-term Assets $6,350
Total Assets $17,800
Total Requirements $18,000
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Start-up Funding
Start-up Expenses to Fund $200
Start-up Assets to Fund $17,800
Total Funding Required $18,000
Assets
Non-cash Assets from Start-up $6,350
Cash Requirements from Start-up $11,450
Additional Cash Raised $0
Cash Balance on Starting Date $11,450
Total Assets $17,800
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Capital
Planned Investment
Ikan $18,000
Investor 2 $0
Other $0
Additional Investment Requirement $0
Total Planned Investment $18,000
Loss at Start-up (Start-up Expenses) ($200)
Total Capital $17,800
Total Capital and Liabilities $17,800
Total Funding $18,000
Start-up
Requirements
Start-up Expenses
Legal $100
Stationery etc. $100
Other $0
Total Start-up Expenses $200
Start-up Assets
Cash Required $11,450
Other Current Assets $0
Long-term Assets $6,350
Total Assets $17,800
Total Requirements $18,000