Kingfishers is a retail store and lodging place in a great location that provides industry specific products to Anglers and Hunters who travel to our state from all over the world for Fly Fishing and Big Game Hunting. The store flourished under its former owner using just one half (1/2) of the available retail space, and offering no other services. The business has been in operation for nearly 20 years and enjoys a solid and positive reputation. The business has serviced clientele from all over the U.S. and has a large repeat customer base from both local and out-of-state Anglers. Under its former owner, the business offered Fly Fishing Guide Services and had a very respectable client base which could be easily regained to maximize and increase revenues today.
2.1 Company Ownership
Kingfishers will be a Limited Liability Company owned and operated by Ausable Wulff and Brassie Nymph, located in the southwest corner of the state on US Hwy XX. Ausable owns another company in the Hunting and Fishing Industry that he started in two years ago, which manufactures innovative hunting and fishing accessories. Brassie has 15 years of experience in managing tourist lodging and has financial management skills.
2.2 Start-up Summary
The start up table below summarizes what we feel is needed to start this business on the right track and to set it up for success. We have been careful to plan for what was really needed and not extravagant or needless items. The following is a list of assets needed for the business to start.
- The lot, improvements and buildings currently known as XXX.
- Outfitters License
- All current inventory of XXX (current wholesale value of $68,000)
- All current fixtures and signage of XXX
- New logo and signage for business
- The bare lot located adjacent to the above mentioned lot and buildings
- 5 Custom Pre-Built log cabin structures to be placed on the bare lot as said above
- Fixtures and furnishing/linen for 5 cabins
- 3 Drift Boats
- 1 portable espresso/coffee maker
The table below shows the breakdown of the assets as they are needed, including $15,000 starting cash and $30,000 dollars for additional inventory to stock the store to make it sales ready. It also includes a figure for current assets needed such as additional fixtures, and a computer system designed for retail sales, as well as showing the full value of the long-term assets that will be part of the business.
|Total Start-up Expenses||$5,200|
|Other Current Assets||$6,400|