HodgePodge Sealcoating Company
HodgePodge Sealcoating Company, soon to be based in Washington, PA, is a sealcoating company that serves the residential market. HodgePodge will based out of a garage with a room attached to serve as the storage facility and office. The truck will be stored in this facility as well as the raw materials. Attached to this space is small room that will serve as the office.
HodgePodge is a seasonal business as a sealcoat cannot be applied when it is too cold or if it is wet. The garage/office set up is located in an industrial area which will lower the rental cost enough so it is not a burden to hold on to the office during the off-season.
2.1 Company Ownership
HodgePodge is a sole proprietorship owned and operated by Dan Slopster.
2.2 Start-up Summary
HodgePodge will incur the following start-up costs:
- Computer system with CD-RW, printer, Microsoft Office, QuickBooks Pro, and Internet connection.
- Desk, chair, file cabinet and cellular phone.
- Pickup truck and gasoline leaf blower.
- Sealcoating mixer and hot crack filler mixer.
- Squeegees for sealcoat and crack filler application.
- Containers for raw ingredient storage and sand (for filling cracks larger than 1/8th inch in depth).
- Work clothing and water container.
Some items are considered assets to be used for more than a year, and will be labeled long-term assets and will be depreciated using G.A.A.P. approved straight-line depreciation method.
|Research and Development||$0|
|Total Start-up Expenses||$400|
|Other Current Assets||$0|
|Start-up Expenses to Fund||$400|
|Start-up Assets to Fund||$39,600|
|Total Funding Required||$40,000|
|Non-cash Assets from Start-up||$10,800|
|Cash Requirements from Start-up||$28,800|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$28,800|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$40,000|
|Loss at Start-up (Start-up Expenses)||($400)|
|Total Capital and Liabilities||$39,600|