Sarrica’s Market is a new business located in downtown Moab, Utah on Main Street. The store is an upscale international grocery and delicatessen, with a distinct menu that includes authentic, hard-to-find ingredients from around the country and the world. The facility will include a sixteen person capacity eating area, deli/kitchen with counter & check out area, grocery/gift area, and a unisex public restroom.
The mission of Sarrica’s Market is to provide Moab, Utah’s residents and visitors with an upscale grocery store, gift shop, and delicatessen specializing in a combination of quality, authentic, hard-to-find grocery items from around the world. Our store motto is, “eat and enjoy,” and our decor depicts the warm feel of an old world outdoor market.
The deli will serve sandwiches, salads, speciality drinks, and picnic lunches. Gift items will complement the international theme of the store and include a limited selection of kitchen wares, cookbooks, picnic items, and original sewn items and jewelry. Gift baskets will also be available in the store and over the internet. All the recipes used in the deli will highlight the grocery items sold in the market.
2.1 Start-up Summary
Start-up costs and initial financing are shown in the following table. The founders are seeking a small business loan in the amount of $100,000 to supplement owner investment in covering these costs. The estimated start-up costs may be lower than projected here if the owners are able to purchase used equipment and do the renovation labor themselves.
We plan on a three month start-up period. Expenses are broken down as follows:
- Insurance @$300/month
- Rent @$2,500/month
- Initial Loan Repayment @$1,000/month
- Utilities @ $1,000/month
- Salaries: 2 managers @$2,000/month each
- Refrigeration Units
- Display Cabinets
- Kitchen Equipment
- Tables and Chairs
|Total Start-up Expenses||$63,300|
|Other Current Assets||$5,000|
|Start-up Expenses to Fund||$63,300|
|Start-up Assets to Fund||$60,700|
|Total Funding Required||$124,000|
|Non-cash Assets from Start-up||$45,000|
|Cash Requirements from Start-up||$15,700|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$15,700|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Andy and Cathy||$12,000|
|Rosie and Kenny||$12,000|
|Additional Investment Requirement||$0|
|Total Planned Investment||$24,000|
|Loss at Start-up (Start-up Expenses)||($63,300)|
|Total Capital and Liabilities||$60,700|
2.2 Company Ownership
Sarrica’s Market is a Limited Liability Company owned and operated by the founders Andy Boone, Cathy O’Connor, Rosie O’Connor, and Kenny VanStone. It will be registered with the country as Sarrica’s Market.