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Company Summary

BikeArt is a stand alone kiosk located in the Valley River Mall that sells pieces of art, furniture, and other items manufactured out of recycled bicycle parts.  While some of the items are functional, they all can be considered art as they are aesthetically pleasing.  In addition to the kiosk, BikeArt will warehouse their purchased products as well as do the back end accounting in Steve Useitagyen’s home.  Steve is the founder and operator of BikeArt.

BikeArt will use three part-time employees to man the kiosk, in addition to Steve who will take care of the hiring, payroll, and purchasing.

The business is forecasted to reach profitability by month nine and will have revenues of $147,000 by the end of year two.

2.1 Company Ownership

BikeArt is a sole proprietorship founded and owned by Steve Useitagyen. 

2.2 Start-up Summary

BikeArt will incur the following start-up costs:

  • Wheeled kiosk.
  • Cash register.
  • Computer system with printer and Internet connection.
  • Desk, chair, and file cabinet.
  • Legal fees associated with business formation and contract review.
Bicycle art business plan, company summary chart image

Start-up Expenses
Legal $300
Insurance $0
Rent $0
Other $0
Total Start-up Expenses $300
Start-up Assets
Cash Required $41,600
Start-up Inventory $0
Other Current Assets $0
Long-term Assets $3,100
Total Assets $44,700
Total Requirements $45,000
Start-up Funding
Start-up Expenses to Fund $300
Start-up Assets to Fund $44,700
Total Funding Required $45,000
Non-cash Assets from Start-up $3,100
Cash Requirements from Start-up $41,600
Additional Cash Raised $0
Cash Balance on Starting Date $41,600
Total Assets $44,700
Liabilities and Capital
Current Borrowing $0
Long-term Liabilities $20,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $20,000
Planned Investment
Steve $25,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $25,000
Loss at Start-up (Start-up Expenses) ($300)
Total Capital $24,700
Total Capital and Liabilities $44,700
Total Funding $45,000