Hamlin and Park Design
Company Summary
Courtney Hamlin and Katherine Park will start Hamlin and Parks Design to offer a wide range of interior design services to clients in southwest Claremont. The company has a high level of expertise in interior design and will provide superior personal services to all clients. Courtney and Katherine take pride in knowing that 50% of their business comes from repeat clients and their referrals.
Our responsibility as interior design professionals is to take the client’s design goals and utilize our skills and resources to exceed the client’s expectations for service, value, functionality, and beauty.
2.1 Company Ownership
The owners and designers of Hamlin and Park Design are Courtney Hamlin and Katherine Park.
2.2 Start-up Summary
Courtney Hamlin and Katherine Park will invest $60,000 in Hamlin and Park Design. They will also secure a $50,000 loan.
The following table and chart show projected initial start-up costs for Hamlin and Park Design.
| Start-up Funding | |
| Start-up Expenses to Fund | $20,550 |
| Start-up Assets to Fund | $79,450 |
| Total Funding Required | $100,000 |
| Assets | |
| Non-cash Assets from Start-up | $20,000 |
| Cash Requirements from Start-up | $59,450 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $59,450 |
| Total Assets | $79,450 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $30,000 |
| Accounts Payable (Outstanding Bills) | $10,000 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $40,000 |
| Capital | |
| Planned Investment | |
| Investor 1 | $30,000 |
| Investor 2 | $30,000 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $60,000 |
| Loss at Start-up (Start-up Expenses) | ($20,550) |
| Total Capital | $39,450 |
| Total Capital and Liabilities | $79,450 |
| Total Funding | $100,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $900 |
| Stationery etc. | $2,000 |
| Brochures | $4,000 |
| Insurance | $200 |
| Rent | $3,000 |
| Answering Service | $200 |
| Utilities Start Up | $250 |
| Office Furnishings | $4,000 |
| Expensed Equipment | $3,000 |
| Business Software | $2,000 |
| Office Supplies | $1,000 |
| Total Start-up Expenses | $20,550 |
| Start-up Assets | |
| Cash Required | $59,450 |
| Other Current Assets | $20,000 |
| Long-term Assets | $0 |
| Total Assets | $79,450 |
| Total Requirements | $100,000 |
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