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Sammy's Family Entertainment Center
Company Summary
Sammy’s is a Family Entertainment Center with a world class, natural looking miniature golf course acting as the initial anchor for other attractions to be added later. Sammy’s hallmark will be a large, natural looking waterfall and water features. Family Entertainment is a highly profitable industry that has been growing rapidly over the past decade. This is due largely to a trend within the country to return to family values. The initial profit centers will be:
- miniature golf course
- video arcade
- climbing wall
- food service
Miniature golf is NOT golf in miniature. However, miniature golf does have a lot in common with regulation golf. To be interesting, miniature golf holes must have the contour changes found on a regulation green, which cause the ball to break and turn as it rolls toward the cup. Undulations and banking give the game an element of challenge and fun.
The anchor of Sammy’s is a “new concept” miniature golf course. The industry also refers to these as “sports courses.” Unlike miniature golf courses of old, windmills and standing bears are not found on today’s courses. Miniature golf courses, however, do need unique elements to hold the players’ interest. Greens that bring water, sand traps and rough turf into play add this uniqueness to miniature golf, while still maintaining an interesting and challenging game. Modern miniature golf courses are designed with attractive landscaping, water features, and elevation changes. A waterfall is the focal point of the Sammy’s course design. The water is a defining characteristic, in both its sight and sound.
The golf course is being designed and built by the most respected miniature golf course company in the United States, Mulligan-Bogey Leisure Builders, Inc. Four other builders were considered, but did not meet the professional standards of Mulligan-Bogey Leisure Builders. Mulligan-Bogey has built more than 400 profitable courses during their 40 years in business. They have demonstrated knowledge of what is required to make a successful facility. The course will be challenging, but not overly so. This will bring customers back to attempt to better their previous score.
2.1 Start-up Summary
Total start-up cost include construction, equipment, initial expenses, and working capital. Start-up assets required include short-term assets (office furniture and kitchen equipment), and we need initial cash to handle the first month of operations. The details are included in the start-up table.
Owners are making a cash investment. Additional loan financing is currently being arranged for ramp up and launch.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $1,250 |
| Brochures | $1,000 |
| Insurance | $7,500 |
| Rent | $1 |
| Start-up Food costs | $500 |
| Supplies and Disposables | $3,250 |
| Total Start-up Expenses | $13,501 |
| Start-up Assets | |
| Cash Required | $13,769 |
| Other Current Assets | $23,230 |
| Long-term Assets | $649,500 |
| Total Assets | $686,499 |
| Total Requirements | $700,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $13,501 |
| Start-up Assets to Fund | $686,499 |
| Total Funding Required | $700,000 |
| Assets | |
| Non-cash Assets from Start-up | $672,730 |
| Cash Requirements from Start-up | $13,769 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $13,769 |
| Total Assets | $686,499 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $560,000 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $560,000 |
| Capital | |
| Planned Investment | |
| Owners Equity Investment | $140,000 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $140,000 |
| Loss at Start-up (Start-up Expenses) | ($13,501) |
| Total Capital | $126,499 |
| Total Capital and Liabilities | $686,499 |
| Total Funding | $700,000 |
2.2 Company Ownership
Sammy’s will be created as a privately owned Subchapter C Corporation, registered in Firefly County. Stock will be equally held by the principal investors John and Michelle Putteer. As of this writing, the corporation has not been chartered. Other options of legal formation are still being investigated.