Bra~vo Intimates
Company Summary
Our corporation is organized as a Limited Liability Corporation, and will be doing business as Bra~vo, located in the downtown shopping district of Royal Oak. Rapid growth, retail development and easy access from all freeways made this the prime location. The merchandise will be purchased according to our area of focus/expertise with the remaining stock in sizes that fall on the fringe. The product lines have been selected on the following criteria: reputation, quality and extensive size range offered.
2.1 Company Ownership
A family owned and operated business, each member working in their area of expertise, having over 20 years of experience their field.
Corporate ownership is as follows:
| Rebecca Autumn | 55% | Owner, Store Manager, Key Salesperson and Buyer |
| Lucille Winters | 26% | Co-owner, Merchandising Consultant |
| Deborah Summers | 19% | Co-owner, Operations Manager |
2.2 Start-up Summary
Start-up costs will be financed as follows:
- Owners’ investment $39,000
- Five-year bank loan $157,190
- Short-term revolving line of credit $35,000, for inventory replenishment and new purchases, during months of high receipts.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Rent & Security Deposit-3 Months | $10,000 |
| Grand Opening Event | $3,000 |
| POS Supplies | $1,000 |
| Travel-Market Buying Trips | $2,250 |
| Business & Inventory Insurance | $2,100 |
| Permits | $250 |
| Advertising & Promotion | $8,840 |
| Build-out | $15,880 |
| Bank Card Machine & Supplies | $355 |
| Store Fixtures | $17,000 |
| Alterations Equipment | $385 |
| Software Retail Pro | $10,500 |
| Logo and Stationery, Business Cards | $2,000 |
| Window Lettering and Store Sign | $1,450 |
| Organizational Dues & Subscriptions | $260 |
| CPA-Christine Hamill | $400 |
| Payroll-3 Months | $23,595 |
| Real Estate Attorney | $3,000 |
| Company Car Payments-2 Months | $1,040 |
| Business Supplies | $750 |
| Utilites & Telephone-3 Months | $2,100 |
| Credit Card Processing Fees-3 Months | $1,690 |
| Building Taxes & Insurance-3 Months | $1,575 |
| Other | $1,770 |
| Total Start-up Expenses | $111,190 |
| Start-up Assets | |
| Cash Required | $5,000 |
| Start-up Inventory | $80,000 |
| Other Current Assets | $0 |
| Long-term Assets | $0 |
| Total Assets | $85,000 |
| Total Requirements | $196,190 |
| Start-up Funding | |
| Start-up Expenses to Fund | $111,190 |
| Start-up Assets to Fund | $85,000 |
| Total Funding Required | $196,190 |
| Assets | |
| Non-cash Assets from Start-up | $80,000 |
| Cash Requirements from Start-up | $5,000 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $5,000 |
| Total Assets | $85,000 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $157,190 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $157,190 |
| Capital | |
| Planned Investment | |
| Investment Cash-Rebecca Autumn | $22,000 |
| Investment Cash-Lucille Winters | $10,000 |
| Investment Cash-Deborah Summers | $7,000 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $39,000 |
| Loss at Start-up (Start-up Expenses) | ($111,190) |
| Total Capital | ($72,190) |
| Total Capital and Liabilities | $85,000 |
| Total Funding | $196,190 |
2.3 Company Locations and Facilities
The store will be located in the downtown shopping district of Royal Oak, Michigan. Situated on South Washington street, the main upscale avenue in town. The space is 2,000 (10 x 200) square feet. All business, deliveries and shipments will be handled through the store, with the exception of in-home appointments and outside promotional events.
Royal Oak is located in the Southeastern section of Oakland county, bordering on Wayne and Macomb counties, (see 4.1 Target Marketing Analysis for county details) one mile off the 6-96 and I-75 intersection, and four blocks east of Woodward Avenue. In addition we are only five miles from the Lodge (10) Freeway and the Southfield Expressway.
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