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Security First Shredding
Company Summary
Security First Shredding is a professional paper shredding company, providing the most secure, efficient, simple and cost effective plan available for destroying a company’s confidential information. Security First Shredding provides complete on-site and off-site document destruction services. The company will be organized as a limited partnership.
Security First Shredding has an 8,000 square foot facility located in the Westside Industrial Park. The park anchors the industrial section of the city and is within easy access of 80% of the potential customers.
2.1 Start-up Summary
The start-up expenses for the Security First Shredding is focused primarily on disposal equipment, disposal bins, and disposal trucks. Janet Wilson and the silent partner will each make substantial investments in the company. In addition, Wilson will secure a long-term loan business loan.
| Start-up Funding | |
| Start-up Expenses to Fund | $249,600 |
| Start-up Assets to Fund | $80,400 |
| Total Funding Required | $330,000 |
| Assets | |
| Non-cash Assets from Start-up | $0 |
| Cash Requirements from Start-up | $80,400 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $80,400 |
| Total Assets | $80,400 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $100,000 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $100,000 |
| Capital | |
| Planned Investment | |
| Janet Wilson | $80,000 |
| Silent Partner | $150,000 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $230,000 |
| Loss at Start-up (Start-up Expenses) | ($249,600) |
| Total Capital | ($19,600) |
| Total Capital and Liabilities | $80,400 |
| Total Funding | $330,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $2,000 |
| Stationery etc. | $600 |
| Brochures | $4,000 |
| Insurance | $1,000 |
| Rent | $2,000 |
| Disposal Trucks | $110,000 |
| Disposal Bins | $50,000 |
| Disposal Equipment | $80,000 |
| Total Start-up Expenses | $249,600 |
| Start-up Assets | |
| Cash Required | $80,400 |
| Other Current Assets | $0 |
| Long-term Assets | $0 |
| Total Assets | $80,400 |
| Total Requirements | $330,000 |
2.2 Company Ownership
Security First Shredding is owned by Janet Wilson and a silent partner.