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
| Start-up Funding | |
| Start-up Expenses to Fund | $17,900 |
| Start-up Assets to Fund | $182,100 |
| Total Funding Required | $200,000 |
| Assets | |
| 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 | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $85,000 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $85,000 |
| Capital | |
| 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 | |
| Requirements | |
| 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.
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