House of Projectors
Company Summary
House of Projectors is an Ohio based company that participates in the office equipment rental industry. More specifically the company, founded by John Laaklytte, rents computer projectors.
2.1 Company Ownership
HOP was founded and is owned by John Laaklytte. The company has been formed as a Limited Liability Corporation as a means of enjoying personal liability protection while avoiding the double taxation effect found with the business formation arrangement of corporations.
2.2 Start-up Summary
HOP has identified the following equipment and services that will be needed as start-up service provider.
- Attorney fees: An attorney will be used for the business formation and registration as well as review of contracts (such as equipment vendors, and the office lease).
- Business consultant: Because of the pricey hourly rates, a business consultant while quite useful, will be used sparingly.
- Four computers, including two laser printers. QuickBooks Pro will be used for accounting software as well as for customer invoicing. ACT! will be used for customer database management as well as for the reservation system.
- Four desks, chairs, and assorted office/desk supplies.
- Fax, paper shredder, phone system with five terminals, and hardware based voice mail.
- Lighting units, shelving units.
- Website development, brochures, and stationery.
- Rental stock. Initially twenty-five projector units will be purchased, divided somewhat equally between three different models. Two laptop computers will also be available.
| Start-up Funding | |
| Start-up Expenses to Fund | $6,900 |
| Start-up Assets to Fund | $118,100 |
| Total Funding Required | $125,000 |
| Assets | |
| Non-cash Assets from Start-up | $50,000 |
| Cash Requirements from Start-up | $68,100 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $68,100 |
| Total Assets | $118,100 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $0 |
| Capital | |
| Planned Investment | |
| Owner | $75,000 |
| Investor 2 | $50,000 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $125,000 |
| Loss at Start-up (Start-up Expenses) | ($6,900) |
| Total Capital | $118,100 |
| Total Capital and Liabilities | $118,100 |
| Total Funding | $125,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $2,000 |
| Stationery etc. | $200 |
| Brochures | $200 |
| Consultants | $3,000 |
| Insurance | $0 |
| Rent | $0 |
| Research and Development | $0 |
| Website Development | $1,500 |
| Other | $0 |
| Total Start-up Expenses | $6,900 |
| Start-up Assets | |
| Cash Required | $68,100 |
| Other Current Assets | $0 |
| Long-term Assets | $50,000 |
| Total Assets | $118,100 |
| Total Requirements | $125,000 |
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