Seminars is a focused seminar company that offers a powerful combination of seminars along with the software to make them useful. This company is about realizing the potential of its founder, John Doe, to develop his skills and knowledge into a viable business.
2.1 Start-up Summary
Start-up costs and initial financing are shown on the following table. John Doe will be investing $25,000 of savings and guaranteeing a loan for another $30,000 with personal assets. The Web development vendor, Designato, has agreed to develop the website for $10,000 to be paid in a year’s time. That will go on the books as an interest-free loan.
|Total Start-up Expenses||$15,800|
|Other Current Assets||$2,000|
|Start-up Expenses to Fund||$15,800|
|Start-up Assets to Fund||$49,200|
|Total Funding Required||$65,000|
|Non-cash Assets from Start-up||$2,000|
|Cash Requirements from Start-up||$47,200|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$47,200|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$10,000|
|Additional Investment Requirement||$0|
|Total Planned Investment||$25,000|
|Loss at Start-up (Start-up Expenses)||($15,800)|
|Total Capital and Liabilities||$49,200|
2.2 Company Locations and Facilities
Seminars will be located in Eugene, OR. Eugene is not an ideal location for a seminar business, because it is not within any major market; but local costs are lower than average, and it is striking distance from Seattle, San Francisco, Los Angeles, and of course Portland, OR. The main consideration is that the founder lives in Eugene, and this business is for his benefit.
2.3 Company Ownership
At its initial stages, Seminars is a sole proprietorship owned by John Doe, founder and president. It will be registered with the county as a fictitious business name. We will move up to incorporate as recommended by our attorney later, based on growth of the business and conditions as they arise.