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Mojo Music

Company Summary

Mojo Music offers popular new CDs, used CDs, DVD rentals, and CD/DVD recording media.  The target customers for the store are the 23,000 students of the State University.  The store is located one half block from the major entrance to the university.  The student group represents a unique music buying and DVD rental group that is not being served by the area’s existing CD stores or video rental outlets.

2.1 Start-up Summary

The start-up cost of Mojo Music will consist primarily of inventory and display equipment. Karl Payne will invest $50,000.  In addition to securing a $100,000 SBA loan, Karl has also obtained an investment of $100,000 from a silent partner.

Music retail business plan, company summary chart image

Start-up Expenses
Legal $1,000
Stationery etc. $0
Brochures $0
Consultants $0
Insurance $0
Rent $4,000
Inventory $120,000
Expensed Equipment $20,000
Display Equipment $6,000
Other $0
Total Start-up Expenses $151,000
Start-up Assets
Cash Required $49,000
Start-up Inventory $0
Other Current Assets $0
Long-term Assets $50,000
Total Assets $99,000
Total Requirements $250,000
Start-up Funding
Start-up Expenses to Fund $151,000
Start-up Assets to Fund $99,000
Total Funding Required $250,000
Non-cash Assets from Start-up $50,000
Cash Requirements from Start-up $49,000
Additional Cash Raised $0
Cash Balance on Starting Date $49,000
Total Assets $99,000
Liabilities and Capital
Current Borrowing $0
Long-term Liabilities $100,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $100,000
Planned Investment
Karl Payne $50,000
Investor 2 $100,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $150,000
Loss at Start-up (Start-up Expenses) ($151,000)
Total Capital ($1,000)
Total Capital and Liabilities $99,000
Total Funding $250,000

2.2 Company Ownership

The store owner is Karl Payne who has worked in CD stores for over ten years.  Most recently, he was the store manager for CD Warehouse for seven years supervising a staff 10.