Foosball Hall, a start-up business has been formed as a Wisconsin Limited Liability Corporation (L.L.C.) with the main purpose as a table game (foosball) operation that offers soft drinks, beer, and light food.
2.1 Company Ownership
Foosball Hall is an L.L.C. registered in Wisconsin. The L.L.C. business formation structure was chosen as a personal liability shield for the owner Stan Spinner. While Stan has outside investors who possess a note securing their investment, Stan is the majority owner.
2.2 Start-up Summary
The following list details the expenses associated with the start up of this organization:
- Foosball tables: There are 10 U.S.-based manufacturers of tables. The specific vendor will be chosen soon based on a competitive bidding process. All of the manufacturers produce high quality tables and compete primarily on price. Foosball Hall is in need of 10 tables @ approximately $3,000 each. In addition to the tables, two large white boards will be needed for tournament play.
- Lighting: While the chosen space has lights for the area in general, additional lighting will need to be set up for proper table play.
- Stools, tables, counter top and chairs: These items will be purchased to provide a place for non-players to relax and socialize.
- Kitchen equipment: These are the items necessary for serving a bar menu and liquid refreshments. Needed items include: glasses, silverware, plates, microwave, convection oven, refrigerator and freezer, serving/cooking utensils, a beer tap system, a fountain dispenser for soft drinks.
- Attorney fees: The needed legal services include business formation advice and assistance, basic contract reviews, and general business advice.
- Consultants: A business consultant will be utilized for assistance in setting up various operating systems for the entity.
- Various marketing information such as brochures, stationery, etc.
- Website: The website will be developed as a form of communication regarding the activities of Foosball Hall and the game of foosball. This includes disseminating information regarding tournaments as well as advertising the fact that there is a place that offers foosball. There are numerous foosball associations that will then link Foosball Hall’s site to theirs for general game promotion.
|Research and Development||$0|
|Total Start-up Expenses||$7,700|
|Other Current Assets||$3,000|
|Start-up Expenses to Fund||$7,700|
|Start-up Assets to Fund||$87,300|
|Total Funding Required||$95,000|
|Non-cash Assets from Start-up||$43,000|
|Cash Requirements from Start-up||$44,300|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$44,300|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$95,000|
|Loss at Start-up (Start-up Expenses)||($7,700)|
|Total Capital and Liabilities||$87,300|