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Information Management Hawaii

Company Summary

Information Management Hawai’i, Inc., will sell and service digital office information systems for Hawai’i’s businesses, with a focus on the Neighbor Island business community. IMH will be formed as the result of the acquisition of three existing businesses: Maui Office Machines, Inc.; Electronics Hawai’i, Inc.; and, Kauai Office Equipment, Inc.

2.1 Company Ownership

IMH will be privately-held [C corporation] owned in majority by the IMH Employee Stock Ownership Trust. There are currently 15 employees, and all will own equal shares in the ESOT. New employees will be given the opportunity to become vested in the Employee Stock Ownership Plan (ESOP) after a suitable probationary period.

2.2 Start-up Summary

Our start-up costs will be $1M, which includes $450,000 for the acquisition of the Maui and Hilo operations of Servco Integrated Office Technology.

The remainder of the funds will be used for:

  • Initial Inventory: $200,000
  • Initial Capitalization: $225,000
  • Legal, Insurance, Rent & Misc: $125,000

The start-up funding will be financed by loans arranged through the Small Business Development Center, and by the Hawai’i Community Loan Fund, and the Small Business Administration as a guarantor. Start-up assumptions are shown in the following table and chart.

Information technology business plan, company summary chart image

Start-up Expenses
Legal/Accounting $10,000
Stationery etc. $1,500
Brochures $1,000
Consultants $7,500
Insurance $25,000
Rent $15,000
Software & IT (Web) $40,000
SPI Buyout $450,000
Setup New Company/ESOP $25,000
Total Start-up Expenses $575,000
Start-up Assets
Cash Required $225,000
Start-up Inventory $200,000
Other Current Assets $0
Long-term Assets $0
Total Assets $425,000
Total Requirements $1,000,000
Start-up Funding
Start-up Expenses to Fund $575,000
Start-up Assets to Fund $425,000
Total Funding Required $1,000,000
Non-cash Assets from Start-up $200,000
Cash Requirements from Start-up $225,000
Additional Cash Raised $0
Cash Balance on Starting Date $225,000
Total Assets $425,000
Liabilities and Capital
Current Borrowing $1,000,000
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $1,000,000
Planned Investment
Investor 1 $0
Investor 2 $0
Other $0
Additional Investment Requirement $0
Total Planned Investment $0
Loss at Start-up (Start-up Expenses) ($575,000)
Total Capital ($575,000)
Total Capital and Liabilities $425,000
Total Funding $1,000,000

2.3 Company Locations and Facilities

We have two locations, one in Kahului, Maui and the other in Hilo, Hawai’i. The two offices are presently being leased by Servco Pacific, Inc., and we will rent from them on a month-to-month basis until we are able to relocate to more suitable facilities. On Kauai, we have a sub-contractor agreement with Kauai Office Equipment to handle installations and service.