Abbey Electronic Services
Abbey Electronic Services is a start-up business managed by Richard Abbey. The economic growth of Cherry Grove in the last several years has resulted in a revitalized community with numerous new services and businesses. As a result, the area’s need for reliable and convenient electrical repair services has substantially risen as well. Abbey Electronic Services will position itself to capitalize on the growing need of the middle- and upper-class market for quality electrical repair service in the metropolitan area. The company will be privately owned by Richard Abbey, with most of the additional funding coming from a ten year SBA loan.
2.1 Start-up Summary
Richard Abbey will invest personal funds. The remainder of the required financing will come from a ten-year Small Business Administration (SBA) loan. The following table and chart show projected initial start-up costs Abbey Electronic Services.
|Start-up Expenses to Fund||$40,800|
|Start-up Assets to Fund||$109,200|
|Total Funding Required||$150,000|
|Non-cash Assets from Start-up||$100,000|
|Cash Requirements from Start-up||$9,200|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$9,200|
|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)||($40,800)|
|Total Capital and Liabilities||$109,200|
|Total Start-up Expenses||$40,800|
|Other Current Assets||$0|
2.2 Company Ownership
Abbey Electronic Services is privately owned by Richard Abbey.