Dribbling Indoor Soccer
Les Klew has been a fixture of the county’s soccer community for the past twenty years. Over the years he has coached hundreds of children. Many of his first players now have children of their own. Currently, he is the supervisor of soccer officials for Wingback County area. His level of expertise in soccer has made him an important contributor to the development of the sport in Wingback County. He has instant credibility with players and coaches.
Like Les, his wife Noh has been an important booster of soccer in Wingback County, especially women’s soccer. Noh has coached numerous girls teams and has served as the chairperson of the Wingback County Soccer Association.
The opening of Dribbling Indoor Soccer is a natural next step for this couple that has been so important to the growth and love of soccer in the county.
Both will actively use their contacts to promote the facility to players and coaches.
2.1 Company Ownership
Dribbling Indoor Soccer is owned by Lester (Les) and Naomi (Noh) Klew. The business will maintain a sole proprietorship status for at least the first two years of operation. The business projects that the Ouisterfield facility will be so popular that a second indoor operation will be established in the nearby city of Midfield. At that time the business will reorganize to become an S Corporation.
2.2 Start-up Summary
The start-up cost of Dribbling Indoor soccer is focused primarily on the field installation and the setup of the soccer store. The Les and Noh Klew will invest in the business, and, addition, the Klews will obtain a long-term loan. Details of start-up expenses and funding and shown in the tables and chart below.
|Start-up Expenses to Fund||$80,000|
|Start-up Assets to Fund||$80,000|
|Total Funding Required||$160,000|
|Non-cash Assets from Start-up||$50,000|
|Cash Requirements from Start-up||$30,000|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$30,000|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Klew, Les and Noh||$60,000|
|Additional Investment Requirement||$0|
|Total Planned Investment||$60,000|
|Loss at Start-up (Start-up Expenses)||($80,000)|
|Total Capital and Liabilities||$80,000|
|Soccer Shop Setup||$10,000|
|Total Start-up Expenses||$80,000|
|Other Current Assets||$5,000|
2.3 Company Locations and Facilities
Dribbling Indoor Soccer is located on West 18th Street in the city of Ouisterfield. The 30,000 square foot facility is a former warehouse that will be converted into a playing facility. The location is easily accessible to all city residents. It is nearby Southtowne Park with is the largest and most popular city park. This unique location is perfect. In addition, the facility has ample off-street parking.