HandyMan Stan has been formed as a Minnesota Limited Liability Company (LLC) by Stan Roberts. Stan will be the sole employee and owner of the company. The company will incur certain start-up costs, primarily tools, detailed in the Start-up Summary section.
2.1 Start-up Summary
HandyMan Stan will incur start-up costs associated with the beginning of the business. The following table details the start-up costs as well as indicated the needed capital for initial operations. Stan will be using his personal tools for jobs but will need to purchase the following additional equipment/tools:
- Assorted plumbing tools including: slip wrenches, snakes, teflon tape, and assorted caps, nuts, and bolts.
- Electrical tools including: electrical gauge meters, wire cutters, various wires and wire caps, and soldering iron.
- Painting material including: paint brushes, paint roller, pneumatic paint sprayer, air compressor, sand papers, spackle tools and masking tape.
- Pressure washer.
- Various general tools.
- Assorted power tools (drill, saw, sander, Dremel).
- Assorted nails, bolts, screws, and fixtures.
- Laptop with portable printer for mobile invoice printing and submission.
- Mobile phone.
|Total Start-up Expenses||$1,500|
|Other Current Assets||$0|
|Start-up Expenses to Fund||$1,500|
|Start-up Assets to Fund||$28,500|
|Total Funding Required||$30,000|
|Non-cash Assets from Start-up||$8,000|
|Cash Requirements from Start-up||$20,500|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$20,500|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$0|
|Loss at Start-up (Start-up Expenses)||($1,500)|
|Total Capital and Liabilities||$28,500|
2.2 Company Ownership
Stan Roberts is the founder and owner of HandyMan Stan. The company will remain a one-man operation for the foreseeable future.