GlobeSpan Meeting Planners, Inc.
Company Summary
GlobeSpan, in strategic alliance with HelmsBriscoe, will provide a time-saving and valuable event planning service to companies who have a lack of destination/meeting planning knowledge, are understaffed or unable to take on the time consuming task of site selection/meeting planning, or want to take advantage of our free expert site selection. With hotel/resort partners worldwide, as well as cruise/air/production/program planning partners at Resource One, the best fit for the clients’ needs will be found while generating maximum revenue for GlobeSpan.
3.1 Company Ownership
GlobeSpan Meeting Planners, Inc. will be a privately held Arizona S corporation based in Goodyear. The company is currently in the process of filing for incorporation with the Arizona Corporation Commission. The owners, Tracey Latkovic, former Director of sales of a major Arizona resort, and Kerry Feltenberg, former director of catering/conference services of a major Arizona resort, will have equal shares in the company.
3.2 Start-up Summary
Start-up costs are $4,800 and will be financed by the owners. An additional $50,000 is needed to cover the first six months of client searches. The following chart and table outline the assumed distribution of expenses, assets, investment, and loan liability.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Incorporation Fees | $150 |
| Accountant | $300 |
| Office Equipment | $2,500 |
| Software | $350 |
| Communication Lines 3 per office – 6 total | $400 |
| Meeting Planning Directories | $700 |
| Other | $400 |
| Total Start-up Expenses | $4,800 |
| Start-up Assets | |
| Cash Required | $50,000 |
| Other Current Assets | $0 |
| Long-term Assets | $0 |
| Total Assets | $50,000 |
| Total Requirements | $54,800 |
| Start-up Funding | |
| Start-up Expenses to Fund | $4,800 |
| Start-up Assets to Fund | $50,000 |
| Total Funding Required | $54,800 |
| Assets | |
| Non-cash Assets from Start-up | $0 |
| Cash Requirements from Start-up | $50,000 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $50,000 |
| Total Assets | $50,000 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $50,000 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $50,000 |
| Capital | |
| Planned Investment | |
| Kerry Feltenberg | $2,400 |
| Tracey Latkovic | $2,400 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $4,800 |
| Loss at Start-up (Start-up Expenses) | ($4,800) |
| Total Capital | $0 |
| Total Capital and Liabilities | $50,000 |
| Total Funding | $54,800 |
3.3 Company Locations and Facilities
The company will be located in Goodyear, Arizona, with a second office in Avondale, Arizona. The owner’s home offices will be linked electronically to ensure real-time communication.
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