Royal’s Software creates scalable inventory software products that can be customized to meet customer’s needs. Royal’s Software is unique in that it sells a product that can be used in any inventory environment. The engineers can then add enhancement to the product that will tailor the product features to the customer’s specific needs.
2.1 Company Ownership
Royal’s Software is owned by John Royal and Dan Whiteaker. The company will be set up as a C Corporation. It is expected that this form of incorporation will allow room for growth and an exit strategy of selling the business in five to seven years.
- John Royal has ten years of experience as an application software developer for Rogue Wave Software. John was the Lead Developer for New Products for the last four years. He was the principal designer of Rogue Wave’s Ace Software Suite.
- Dan Whiteaker has seven years of programming experience with Rogue Wave Software. Dan assisted the Ace Software Suite Development Group. He lead the Customer Modifications Group for the past two years.
2.2 Start-up Summary
The following is the start-up summary for Royal’s Software. As is typical for software companies the largest portion of start-up funds will go towards product development.
|Start-up Expenses to Fund||$115,500|
|Start-up Assets to Fund||$184,500|
|Total Funding Required||$300,000|
|Non-cash Assets from Start-up||$10,000|
|Cash Requirements from Start-up||$174,500|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$174,500|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$200,000|
|Loss at Start-up (Start-up Expenses)||($115,500)|
|Total Capital and Liabilities||$184,500|
|Research and Development||$100,000|
|Total Start-up Expenses||$115,500|
|Other Current Assets||$10,000|