The legal name of the company will be Mid-Atlantic Recycling, LLC. Mid-Atlantic Recycling will be formed as a Limited Liability Company in West Virginia. Due to its tax benefits, a LLC will be advantageous.
Mid-Atlantic Recycling is owned by its founder and president, Oliver Pyne. Mr. Pyne will be an active participant in management decisions.
Our start-up costs will be $1,000,000. The funds will be primarily used for the following:
|Capital Asset Purchases|
|Processing Plants 2 x $190,460|
|Processing Plants built in-house 2 x $40,000|
|Sheds 48'x72' 4 x $18,500|
|Skid Truck 2 x $73,000 (avg price)|
|Front-end Loader 2 x $50,000|
|Tandem Dump Trailer|
Detail of start-up assumptions are shown in the following tables and chart.
Mid-Atlantic Recycling will operate in Monroe County, WV, near the community of Lindside, WV. The Lindside location is approximately 10 miles from Peterstown, WV. The recycling facilities will be located on a 58+ acre property owned by company president, Oliver Pyne; 5 acres will be set aside for the recycling facility set up and operation. This site is ideal as it provides access to local municipalities and to Interstates 77 and 81. Also there is room for expansion as the business grows.
Additionally, Mid-Atlantic Recycling's business location is located in a federally designated "historically underutilized business zone" or HUBZone. As discussed under the Competitive Comparison section below, this designation gives Mid-Atlantic Recycling certain advantages in selling to the government.
As the business expands to additional counties in subsequent years, we will need to lease property on which to site our facilities.
Because Mid-Atlantic Recycling recycles a waste product and incorporates it into an environmental product, the company is under the potential jurisdiction of the Environmental Protection Agency. The recycling and sale of human waste may be regulated by federal or state authorities. Mid-Atlantic Recycling will obtain all required federal and state permits and licenses to operate its facilities.