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Circuit Fitness Importing

Company Summary

Circuit Fitness Importing has been formed as an Oregon LLC with the express purpose of importing the finest fitness equipment from Italy into the U.S. The company was founded by Max Peruggio in January of this year.

2.1 Start-up Summary

Circuit Fitness Importing is in the process of opening an office in anticipation of receiving an exclusive importing contract from Wega regarding their innovative Esercitazione Diritta exercise equipment. The office is located in Portland and requires the following equipment and service provider expenses:

  • Three computer workstations with the following equipment:
    • three Microsoft Office licenses
    • broadband Internet connection
    • two laser printers
    • Peachtree Accounting
  • Fax machine
  • Copier
  • Three sets of office furniture
  • Large desk and chairs for meeting room
  • Two line phone system
  • Mobile phone
  • Attorney fees for contract generation and LLC formation
  • Accountant fees for accounting system set up
  • Website development set up fees
  • Brochure creation and printing
Fitness equipment business plan, company summary chart image

Start-up Funding
Start-up Expenses to Fund $17,900
Start-up Assets to Fund $182,100
Total Funding Required $200,000
Non-cash Assets from Start-up $15,000
Cash Requirements from Start-up $167,100
Additional Cash Raised $0
Cash Balance on Starting Date $167,100
Total Assets $182,100
Liabilities and Capital
Current Borrowing $0
Long-term Liabilities $85,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $85,000
Planned Investment
Max Perrugio $40,000
Family and Friends $75,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $115,000
Loss at Start-up (Start-up Expenses) ($17,900)
Total Capital $97,100
Total Capital and Liabilities $182,100
Total Funding $200,000
Start-up Expenses
Legal $2,000
Accountant fees $2,000
Brochures $750
Website development $4,000
Insurance $150
Rent $1,000
Research and Development $0
Expensed Equipment $8,000
Other $0
Total Start-up Expenses $17,900
Start-up Assets
Cash Required $167,100
Start-up Inventory $0
Other Current Assets $0
Long-term Assets $15,000
Total Assets $182,100
Total Requirements $200,000

2.2 Company Ownership

Max Peruggio is the sole owner of Circuit Fitness Importing. To finance operations, Max has invested $40,000 in the business, and has received money from friends and family as well as taken on bank debt.