JTB's Integrated Technologies, Inc. will be located in Richfield, Louisiana. This location is very close to the I-82 corridor providing excellent access to the Mississippi, Arkansas, and Texas Industrial Markets. JTB's management acquired it's roots in the Industrial marketplace while managing RL&I Tool and Machine, Inc, a privately held corporation that operated in Missouri for over twenty-five years.
Further experience was also acquired while managing RL&I's Industrial supply division of RL&I Tool and Machine. RL&I also produced its own line of tools. In late 1999 the Missouri corporation was closed and the management shown in this plan relocated here to Louisiana.
The primary partners in this plan are responsible for all phases of business and product development, with special emphasis on bringing the latest integrated technologies design into the business. With our roots firmly planted in the Industrial marketplace, JTB will provide integrated business development technology to Industrial and Commercial manufacturing accounts acquired over the last twenty-five years while working with the following business types:
JTB will be a privately held corporation co-owned by Rachel L. Jeremy and her husband, Mitchell R. Jeremy. Rachel Jeremy has 10 years of experience in production management and customer services, acquired while she worked with RL&I Tool and Machine, Inc., where she was also the Secretary for that corporation. Rachel will also add a large percentage to the minority-owned shares, allowing the firm to participate in larger contracts requiring minority involvement.
Mitchell R. Jeremy owns and operates Technical Marketing Technologies LLC, a technology and marketing consulting firm. Mr. Jeremy is an innovator with over 25 years of technical experience in the Industrial tool market with an additional 15 years of integrating computers and other technologies into the manufacturing and distribution of industrial products.
Mr. Jeremy has a proven track record of success in launching new business projects and directing operations for a previous MIssouri-based corporation as President of RL&I Tool and Machine, Inc. To achieve our objectives, Jeremy is seeking $27,150 in loan financing and $225,000 in investment for JTB's Integrated Technologies Division. The loan will be repaid from the cash flow of the business. It will be secured by the assets of the company, and backed by the character, experience and personal guarantees of the owners.
Initial investors will have a choice in year three of opting out, with a repayment of $300,000, or of maintaining their equity investment and receiving yearly dividends over the next five years, after software is developed and sales are reaching full potential via all revenue streams. We anticipate that within 48 months of start-up, we will be in a position to attract new investment. Details of the first option are illustrated in the Cash Flow table, in the Financial Plan outlined below.
Initially, the Integrated Technologies Division will work from the offices of JTB's Industrial Sales Division. Start-up will consist of hiring two Application developers and one Web Developer to begin development of the Internet-based software to later drive the inventory-sharing and customer-interactivity aspects of the business. We will hire database experts and Web-based application specialists to achieve the desired results. The expense line for "Headhunter fees" represents anticipated fees to head-hunters with whom we are working to complete the hiring process.
Our largest Start-up expenses are for office and computer equipment to set up our development center, and licensing of a proprietary version-control software to help maintain the integrity of the code during development and upgrades. Other Current Assets includes networkable servers and backup systems as insurance for the software-development process.
In addition to the above, we will buy and install approximately $15,000 of high-speed color printing equipment, and specialty CD duplicator equipment in the business development office area. This equipment will allow the JTB's sales and marketing department to produce the businesses marketing literature, custom burn our developed applications, and resell the latest technology in printing equipment.
Our start-up period, after receiving funding, is one month. We have already scouted some potential developers, and this will give us the time to complete their employment contracts and set up the offices for software development, including the networked servers and backup drives.
JTB will initially work from its Richfield, Louisiana location, alongside the Industrial Sales Division. This proximity will allow us to test the inventory-sharing and customer-support functions of the software with real-time feedback from employees of the other JTB divisions. In addition, warehousing space in the Industrial Sales Division can support the storage of completed CD-packages of the standard software.
The Richfield location provides sufficient space for offices for each of the developers, for a server room, and for backup storage. Additional backup plans include off-site storage at a contracted secure location in the Northeast, in the event of physical damage to the Richfield area (floods, hurricanes, etc.).