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.
|Office Supplies, Stationary||$500|
|Total Start-up Expenses||$9,550|
|Other Current Assets||$12,000|
|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|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$50,000|
|Loss at Start-up (Start-up Expenses)||($9,550)|
|Total Capital and Liabilities||$40,450|
2.2 Company Ownership
U&ME Dance is a Limited Liability Company owned and operated by Mary Evans and Toni Simler.