Play Time for Kids

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Company Summary

Current Family Entertainment Centers (FECs) have a primary emphasis on hands-on discovery learning through free spontaneous play, but can also incorporate some elements of pure entertainment. Most adults don't fully understand and appreciate the value of spontaneous play to the social, physical, mental, and emotional development of their children, so these new types of children's centers are marketed in the U.S. as children's discovery or edutainment centers. This communicates to the parents that their children will learn by visiting them. Therefore, the parents show up with their children because it's good for them, and the children show up because it's just plain fun. Play Time for Kids is a new company that will provide high-level Play Care, Edutainment and Customer Service in the following categories:

  • Play care
  • Educational play with learning
  • Children's activities
  • Birthday parties
  • Special events
  • Staffing that adds that "personal touch"
  • Photography available for birthday parties and other events (includes digital photos on CD)
  • Souvenirs (T-shirts, hats etc.)
  • Special events
  • Special requests
  • Convenient hours of operation

What will set Play Time for Kids apart from the competition is the commitment to provide all these services in one convenient location.

2.1 Start-up Summary

The company will obtain use of a new structure. Start-up costs will cover a number of details to convert the structure to suit the owner's concept both visually and functionally. Included in start-up costs are all the necessary expenditures to cover the pre-opening, hiring, staff training, addition and revision of equipment needs, supplying toys, soft play equipment, inventory, and other essentials.

Long-term assets represents the value of the barn and the land on which it sits. Renovations are expensed.

Start-up
Requirements
Start-up Expenses
Legal Fees $7,300
Insurance $5,800
Rent $2,500
Computer - Administrative $4,000
Marketing and marketing strategy $6,500
Architect/Remodeling $15,000
Equipment (i.e. toys) $8,000
Projector & Screen $1,500
TVs & video game consoles $1,250
Computers - Learning $2,000
Cleaning supplies $900
Office Supplies $1,000
Total Start-up Expenses $55,750
Start-up Assets
Cash Required $65,000
Start-up Inventory $1,000
Other Current Assets $2,500
Long-term Assets $14,000
Total Assets $82,500
Total Requirements $138,250

2.2 Company Ownership

Play Time for Kids is a privately-held S corporation co-owned by Carry Tayker and Wanda Magic. To achieve our objectives, Play Time for Kids seeks financial backing. The loans will be repaid from the cash flow of the business, and will be secured by the assets of the company, and backed by the character, experience, and personal guarantees of the owners.