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Fargo Medical Laboratories
Company Summary
Fargo Medical Laboratories has been formed as an L.L.C., registered in North Dakota. Fargo Medical Laboratories is a single member entity owned by Dave Gigsted. Fargo Medical Laboratories will lease office space in the Main Street Professional Building. This building has over 120 offices, 93 of which are leased by medical professionals. Of the 93, a high percentage of those are primary care physicians or general practitioners. There currently is no laboratory within this professional building, and doctors are forced to send their patients across town to have blood drawn and analyzed.
2.1 Company Ownership
The owner of Fargo Medical Laboratories is Dave Gigsted. Dave has received bank debt financing and will have a long term loan to pay off.
2.2 Start-up Summary
Fargo Medical Laboratories will require the following equipment for the start up of the business:
- Waiting room furniture
- Two computers with QuickBooks Pro, Microsoft Office, and insurance billing software, sharing a laser printer and a broadband Internet connection.
- Five portable ice coolers.
- Four chairs for the blood drawing rooms.
- Latex gloves, syringes, needles.
- Autoanalyzer.
- Complete blood testing machine.
- Centrifuge.
- Refrigerator/freezer unit.
| Start-up Funding | |
| Start-up Expenses to Fund | $5,000 |
| Start-up Assets to Fund | $165,000 |
| Total Funding Required | $170,000 |
| Assets | |
| Non-cash Assets from Start-up | $73,000 |
| Cash Requirements from Start-up | $92,000 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $92,000 |
| Total Assets | $165,000 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $170,000 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $170,000 |
| Capital | |
| 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) | ($5,000) |
| Total Capital | ($5,000) |
| Total Capital and Liabilities | $165,000 |
| Total Funding | $170,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $1,000 |
| Stationery etc. | $0 |
| Brochures | $500 |
| Consultants | $0 |
| Insurance | $500 |
| Rent | $1,000 |
| Research and Development | $0 |
| Expensed Equipment | $2,000 |
| Other | $0 |
| Total Start-up Expenses | $5,000 |
| Start-up Assets | |
| Cash Required | $92,000 |
| Other Current Assets | $0 |
| Long-term Assets | $73,000 |
| Total Assets | $165,000 |
| Total Requirements | $170,000 |