GFX: Gravestat Farm eXchange
GFX is a retail sales organization targeted at the needs of the middle to upper class pleasure horse owner/buyer. It serves this purpose in two primary ways. First, by providing a legitimate and professional horse buying experience, virtually unavailable anywhere else. Second, by providing a “1-Stop Shop” source for a complete line of products needed to support, care for, and enjoy their horse.
2.1 Company Ownership
GFX will be wholly owned and privately held by Edward and Leanna Graves, most likely as an LLC entity. The final business form however, will be decided after consultation with a business attorney to determine the most advantageous form given the specifics of our business. The expense for this legal consultation and execution has been included in the Start-Up Costs section of this business plan.
2.2 Start-up Summary
The following table shows the start-up funding requirements, and use thereof, for GFX to become operational. It contains $68,500 in start-up expenditures, $14,500 in inventory investment, and $42,000 in operating capital for the first six months of GFX operation.
To fund these requirements, we are seeking a ten-year loan of $110,000 for the business, to be backed by the equity in the owners’ home.
|Consolidated Credit Card Debt||$15,000|
|Laptop Computer System for Office||$1,000|
|Tractor & Equipment||$5,000|
|Total Start-up Expenses||$68,500|
|Other Current Assets||$0|
|Start-up Expenses to Fund||$68,500|
|Start-up Assets to Fund||$56,500|
|Total Funding Required||$125,000|
|Non-cash Assets from Start-up||$14,500|
|Cash Requirements from Start-up||$42,000|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$42,000|
|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)||($68,500)|
|Total Capital and Liabilities||$56,500|
2.3 Company Locations and Facilities
GFX will be located and primarily operated at our residential address on State Highway 18, nine miles north of the Turner Turnpike (I-44) Chandler exit, in Central Oklahoma.
The property presently includes 15 sectioned and fenced acres, a 50′ x 100′ barn, 2800 sq.ft. brick home, mobile home, and small storage shed. This location is ideal for the sale of horses as it is directly on a state highway nearly equidistant (1 hour’s drive) from Oklahoma City and Tulsa, and less than 30 minutes from Stillwater, Chandler, Cushing, Stroud, and Shawnee, Oklahoma. It offers sufficient space to maintain, train, show, and sell the horses and product lines offered by GFX in a rural setting centrally located to the vast majority of Oklahoma.
As part of this business plan, GFX intends to add a small tack shop and business office at this location. We also intend to purchase 50 – 60 acres of additional nearby land for the keeping of additional horse inventory and the production of sufficient hay to feed the stock.
Business done at this location only accounts for one segment of the overall operation.
GFX will regularly attend horse events at the Oklahoma City Fairgrounds, Tulsa Expo Square Fairgrounds, and Purcell Expo Center, (three of the most active horse competition venue’s in America) as a product vendor on a regular basis.
GFX will execute a third, major segment of its business via e-commerce, utilizing an active website featuring an online catalog for tack and equipment sales executed over the World Wide Web. This site is currently in operation at www.gfarmx.com and the reviewer is encouraged to visit for a working demonstration of this segment of the GFX overall strategy.