Ideal Business Support Services
Company Summary
Ideal Business Support Services, soon to be located in Salem, OR, will offer business support services for the insurance industry. Ideal will concentrate on transcription, database management, word processing and website development. These services will be offered to insurance agents who do not have the staff to perform these functions. By providing these services to the agents, the agents do not need to pay the overhead for the equipment, personnel, and knowledge.
The business will be based in downtown Salem and will have four employees in addition to Sarah Helpinghand, the founder and owner. Ideal is projected to reach profitability by month 11.
2.1 Company Ownership
Ideal Business Support Services is an Oregon corporation owned by Sarah Helpinghand.
2.2 Start-up Summary
Ideal Business Support Services have the following start-up expenses:
- Computer system with three workstations, a printer, CD-RW, Microsoft Office, and Microsoft Access.
- Office furniture including four desks and chairs, three file cabinets.
- Legal fees regarding business formation and generating and reviewing contracts.
- Copier, fax, and two phone lines.
- Website development.
- Various office supplies.
- Two laptop computers with Pentium processors and Microsoft Office Professional version.
- Transcription machine.
Please note that any equipment that will be used for more than a year will be considered a long-term asset and will be depreciated using the straight-line method.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $1,000 |
| Stationery etc. | $100 |
| Other | $0 |
| Total Start-up Expenses | $1,100 |
| Start-up Assets | |
| Cash Required | $57,400 |
| Other Current Assets | $0 |
| Long-term Assets | $8,500 |
| Total Assets | $65,900 |
| Total Requirements | $67,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $1,100 |
| Start-up Assets to Fund | $65,900 |
| Total Funding Required | $67,000 |
| Assets | |
| Non-cash Assets from Start-up | $8,500 |
| Cash Requirements from Start-up | $57,400 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $57,400 |
| Total Assets | $65,900 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $0 |
| Capital | |
| Planned Investment | |
| Sarah | $67,000 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $67,000 |
| Loss at Start-up (Start-up Expenses) | ($1,100) |
| Total Capital | $65,900 |
| Total Capital and Liabilities | $65,900 |
| Total Funding | $67,000 |
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