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Fiberglass World, Inc.

Company Summary

Fiberglass World is a start-up manufacturing company with patented products that will revolutionize the building industry. It is the exclusive manufacturer in the U.S. and is protected by a licensing agreement with the inventor of the Fiberglass Plate products, Mr. John Thompson.

The company boasts many features which directly lead to it being the premier manufacturer of fiberglass materials in the United States. The following subtopics outline the some features of Fiberglass World: its locations, a description of what it will take to get the company up and running, and other elementary aspects of the company.

2.1 Company Ownership

Fiberglass World was founded in Tulsa, Oklahoma in September of 1999 by Mr. John Thompson. Fiberglass World is an Oklahoma C-Corporation, with principal offices located in Tulsa.

2.2 Start-up Summary

The company is seeking first round financing for the purpose of acquiring starting inventory of raw materials, purchasing land, building construction, utility hook-up and site improvement, machinery and equipment, working capital, legal and accounting costs, and miscellaneous start-up expenses. Additionally, the company will seek second round financing for fourth year, Phase II operations. Projected revenues will double during the 2000 to 2002 period.

Construction manufacturer business plan, company summary chart image

Start-up Expenses
Legal $50,000
Building construction/Site improvement $200,000
Accounting $20,000
Insurance $100,000
Rent $56,000
Research and development $0
Utility hookup $1,000
Other $5,000
Total Start-up Expenses $432,000
Start-up Assets
Cash Required $35,000
Start-up Inventory $80,000
Other Current Assets $0
Long-term Assets $300,000
Total Assets $415,000
Total Requirements $847,000
Start-up Funding
Start-up Expenses to Fund $432,000
Start-up Assets to Fund $415,000
Total Funding Required $847,000
Non-cash Assets from Start-up $380,000
Cash Requirements from Start-up $35,000
Additional Cash Raised $0
Cash Balance on Starting Date $35,000
Total Assets $415,000
Liabilities and Capital
Current Borrowing $50,000
Long-term Liabilities $476,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $526,000
Planned Investment
Mr John Thompson $70,000
Mrs. Kim Thompson $38,000
Other Investors $213,000
Additional Investment Requirement $0
Total Planned Investment $321,000
Loss at Start-up (Start-up Expenses) ($432,000)
Total Capital ($111,000)
Total Capital and Liabilities $415,000
Total Funding $847,000

2.3 Company Locations and Facilities

The location of the first operating plant is planned for Tulsa, Oklahoma. This location was chosen because of its proximity to both road and rail transportation. The area has been designated by the state as an Enterprise Zone, thus offering us benefits and incentives to set up our operation.