Third Degree I.D.
Company Summary
Third Degree I.D. is located in Savannah, Georgia. It sells instructional design products and services to the corporate, education, government and healthcare e-learning markets. The company is committed to high quality instructional design and educational new media development. It sells program/curriculum design and development, course design and development, program/curriculum and course evaluation, content analyses and revision, rich-media production, e-learning training, e-learning consulting, and additional services, such as market research, editing, document workflow, and translation. Third Degree I.D. employs an object-oriented design methodology that yields flexible, scalable, and reusable content. This approach provides clients with rich, targeted solutions that are easily replicated and maintained.
2.1 Start-up Summary
To begin the business, we require $5,924 in start-up expenses, and another $13,000 in non-cash assets. Details of these requirements can be found below.
Expenses
Legal Expenses
- Attorney Consultation — $300
- Initial Filing Fee for LLC — $400
- Name and Logo Trademark — $300
Website Expenses
- Website Domain (2 Years) — $14
- Website Hosting (1 Year) — $96
Communications
- Stationery/Letterhead + Envelopes (500 set) — $500
- Business Cards (500 x 3) — $300
Memberships and Subscriptions
- Coastal Beta — $75
- eLearning Guild — $95
- Faculty Finder.com — $745
Software
- Authoring and Multimedia Software for Sony Vaio — $1,000
- Authoring and Multimedia Software for Mac Powerbook — $1,000
- Authoring and Multimedia Software for SH Desktop — $300
Long-term Assets
Computer Hardware
-
DS Laptop (Sony Vaio) — $2,500
-
MH Laptop (Mac 15″ Powerbook — $2,500
-
SH Desktop + Laser Printer + Scanner — $2,000
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Networked Content Server — $6,000
Start-up Investment
Each of the the founding partners will make an equal investment of $35,000 in starting the business. In addition, the partners intend to secure a 2-year commercial loan in the amount of $30,000 to cover the working capital requirements for the initial period of operations.
All startup expenses and funding requirements are summarized in the tables below.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $1,000 |
| Annual State Fees | $300 |
| Insurance | $200 |
| Website domain and hosting | $109 |
| Stationary/ Business Cards | $800 |
| Office Supplies | $100 |
| Wireless Home Network (Airport) | $200 |
| Memberships/Subscriptions | $915 |
| Software | $2,300 |
| Total Start-up Expenses | $5,924 |
| Start-up Assets | |
| Cash Required | $116,076 |
| Other Current Assets | $0 |
| Long-term Assets | $13,000 |
| Total Assets | $129,076 |
| Total Requirements | $135,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $5,924 |
| Start-up Assets to Fund | $129,076 |
| Total Funding Required | $135,000 |
| Assets | |
| Non-cash Assets from Start-up | $13,000 |
| Cash Requirements from Start-up | $116,076 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $116,076 |
| Total Assets | $129,076 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $30,000 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $30,000 |
| Capital | |
| Planned Investment | |
| S.Hines | $35,000 |
| M. Meyer | $35,000 |
| D. Stanford | $35,000 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $105,000 |
| Loss at Start-up (Start-up Expenses) | ($5,924) |
| Total Capital | $99,076 |
| Total Capital and Liabilities | $129,076 |
| Total Funding | $135,000 |
2.2 Company Ownership
Third Degree I.D. is structured as a limited-liability company (LLC), consisting of three executive partners: Susan Hines, Mona Meyer, and Daniel Stanford, who will function in the roles of chief executive officer (CEO), chief learning officer (CLO), and chief creative officer (CCO).
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