Phaethon's Chariot Restorations
Phaethon’s Chariot is an auto restoration shop located in Centerton, Ohmstate. The company is engaged in the restoration of 1970 and earlier American cars, and the building of custom hot rods. Body work and rust repair is the majority of our work. The total market for auto restoration in the communities which the company targets is approximately $2.7 million. The share of this market channeled through auto restoration shops and word of mouth is directly proportional to disposable income.
Phaethon’s Chariot Restorations is best suited to serving the high-end customer share of the auto restoration market because clients of auto restoration can afford expensive materials and custom solutions. The company is unable to compete with large shops geared to mass production runs, nor can it’s pricing compete with the many “insurance job” body repair shops. The company is dedicated to providing the highest quality workmanship, meeting the agreed delivery dates, and executing the custom work exactly in accordance with the customers concept.
2.1 Company Ownership
The company, Phaethon’s Chariot Restorations, is a corporation registered in Ohmstate, owned by Isoroku Tarnmaclahan.
2.2 Start-up Summary
The company founder, Mr. Isoroku Tarnmaclahan, will manage day-to-day operations of the business and will work collaboratively with all employees to ensure that this business venture is a success.
It is estimated that the start-up costs will include legal costs, advertising, one month’s rent and utilities, and related expenses. An additional amount will be required as start-up assets, including heavy equipment and cash on hand. The owner’s existing tools comprise part of the current assets. Total Start-up Requirements are detailed in the table below.
Some of the heavy equipment long-term assets that will be acquired include:
- Air Compressor System
- Air Filtration System
- Air Powered Tools
- Car Lift/Hoist
- Computerized Engine Diagnostic Equipment
- Hand Tools
- Jigs and Work Stands
- Auto Hand Tools
- Spray Painting Equipment
Inventory will consist of restoration materials. Custom panels, parts, seats, fabrics, instruments, etc. will be purchased either by the car owners, or by Phaethon’s Chariot on a just-in-time, as needed basis.
|Logo Design – Artwork||$3,000|
|Computer Network – Office/Shop||$6,000|
|Total Start-up Expenses||$23,500|
|Other Current Assets||$30,000|