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U&Me Dance

Company Summary

U&ME Dance, soon to be located in Bellingham, Washington, will provide the community with a comfortable, friendly environment in which to learn the art of partnership dancing. U&ME Dance will offer private dance instruction, group classes, social dance parties and rental facilities for local events.

Ballroom dance, as a sport, as well as an art, has become increasingly popular worldwide. As a result, the studio can expect to attract a wide cross section of customers from Bellingham and Whatcom County. U&Me Dance will appeal to people of all ages, abilities and backgrounds, looking for creative self expression, exercise and/or social opportunities through dance.

2.1 Start-up Summary

U&ME Dance’s start-up costs are based on an assumption that it will lease space at the Majestic. This space is ready for occupancy but will need a few minor renovations. The renovations include building out an office on the main floor and a caterer kitchen.

The other category includes items such as memberships to the Chamber of Commerce, Visitor and Convention Bureau, and anything else that we may have forgotten or underestimated.

The current assets include the deposit of $12,000. Long-term assets include items which will need to be purchased for the business. See the attached table for more details.

We are not currently requesting a loan, but may need to for operating costs if the sales forecast is less that anticipated. The owners are investing $50,000 initially.

Dance studio business plan, company summary chart image

Start-up Expenses
Legal $1,000
Accountant $300
Office Supplies, Stationary $500
Brochures $250
Grand Opening $5,000
Signage $500
Other $2,000
Total Start-up Expenses $9,550
Start-up Assets
Cash Required $10,750
Other Current Assets $12,000
Long-term Assets $17,700
Total Assets $40,450
Total Requirements $50,000
Start-up Funding
Start-up Expenses to Fund $9,550
Start-up Assets to Fund $40,450
Total Funding Required $50,000
Non-cash Assets from Start-up $29,700
Cash Requirements from Start-up $10,750
Additional Cash Raised $0
Cash Balance on Starting Date $10,750
Total Assets $40,450
Liabilities and Capital
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Planned Investment
Owner Loan/Investment $50,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $50,000
Loss at Start-up (Start-up Expenses) ($9,550)
Total Capital $40,450
Total Capital and Liabilities $40,450
Total Funding $50,000

2.2 Company Ownership

U&ME Dance is a Limited Liability Company owned and operated by Mary Evans and Toni Simler.