Borrow My Tools is a CA registered S corporation. Registration took place in January of 2004. The main shareholder is Josh Taylor. Borrow My Tools offers a range of home improvement tools which may be rented for intervals of less than one month and leased for intervals of more than a month. Tools will serve both individuals interested in improving their home as well as handymen.
Borrow My Tools will incur a variety of expenses associate with the start up phase of the business. Some expenses will be equipment related, for inventory as well as for operations. Other expenses will be from service providers used to assist in the development of operations. The following is a partial list:
Attorney: Corporate formation.
Accountant: PeachTree set up including inventory module.
Inventory equipment Assorted range of all the tools that will be rented. For a current complete list of the available tools please view the Services section.
Three workstations with Microsoft Office licenses
PeachTree Accounting with network access
Two laser printers
Broadband Internet connection
Retail space equipment
Assorted shelving units
Three desk-based work areas
Assorted light fixtures
Repair area Variety of tools for maintenance and repair of the tool inventory.
Start-up Expenses to Fund
Start-up Assets to Fund
Total Funding Required
Non-cash Assets from Start-up
Cash Requirements from Start-up
Additional Cash Raised
Cash Balance on Starting Date
Liabilities and Capital
Accounts Payable (Outstanding Bills)
Other Current Liabilities (interest-free)
Additional Investment Requirement
Total Planned Investment
Loss at Start-up (Start-up Expenses)
Total Capital and Liabilities
Total Start-up Expenses
Other Current Assets
Borrow My Tools is an S Corp owned primarily by Josh Taylor.