Bowl Weevil
Company Summary
Bowl Weevil is a classic bowling alley owned by Sally Strike. Bowl Weevil specializes in league bowling and parties – a fun filled environment for the entire family. Bowl Weevil will be located in the old Miller building, where the vintage 1920’s charm will help to create an ambience of nostalgic fun.
2.1 Company Ownership
Bowl Weevil is a C Corporation owned by Sally Strike. It is incorporated in the state of Kentucky, and operates in King County.
2.2 Start-up Summary
Bowl Weevil’s start-up costs will include all equipment needed for the bowling alley, the restaurant, inventory and daily bank to cover the total winnings of all pull-tabs.
The bowling alley lanes and restaurant equipment will be the largest chunk of the start-up expenses. These long-term assets include 16 hardwood bowling lanes, 180 pins, 8 electronic scoring terminals, a commercial range and oven, a walk-in refrigerator, video games, pull tab equipment, a sink and dishwasher.
Start-up expenses will include rent during renovation (one month’s deposit and three month’s rent), construction costs of the renovation, and advertising. During the start-up period, we will use both television ads and fliers. We will also place an ad in the Yellow Pages, but this will not be available to potential clients until June, when the new phone book is delivered.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal Costs | $500 |
| Consulting | $500 |
| Construction | $20,000 |
| Advertising | $3,000 |
| Rent during renovation | $40,000 |
| Total Start-up Expenses | $64,000 |
| Start-up Assets | |
| Cash Required | $40,000 |
| Start-up Inventory | $7,000 |
| Other Current Assets | $35,000 |
| Long-term Assets | $77,900 |
| Total Assets | $159,900 |
| Total Requirements | $223,900 |
| Start-up Funding | |
| Start-up Expenses to Fund | $64,000 |
| Start-up Assets to Fund | $159,900 |
| Total Funding Required | $223,900 |
| Assets | |
| Non-cash Assets from Start-up | $119,900 |
| Cash Requirements from Start-up | $40,000 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $40,000 |
| Total Assets | $159,900 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $163,900 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $163,900 |
| Capital | |
| Planned Investment | |
| Owner | $60,000 |
| Investor | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $60,000 |
| Loss at Start-up (Start-up Expenses) | ($64,000) |
| Total Capital | ($4,000) |
| Total Capital and Liabilities | $159,900 |
| Total Funding | $223,900 |
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