WorkChairs
Company Summary
WorkChairs is a small business based in Studio City, CA that sells specialty ergonomic products to local businesses and home office workers while also selling those products on their website online. The company is operated out of the home of owners Jake and Lisa Wilson. Their son Peter also is part of the company.
2.1 Company Ownership
Workchairs is a private C corporation owned by Jake and Lisa Wilson. They each own 50% of the company.
2.2 Start-up Summary
WorkChairs will require total start-up expenses which include legal fees in setting up the business, stationery, sales brochures and collateral, insurance, expensed computer equipment, and a domain name.
Jake and Lisa Wilson will be providing the investment which will cover the start-up expenses while also leaving a cash reserve. We have no start-up liabilities to be considered in our start-up phase. We will purchase examples of our products, as Current Assets, for customers to test-sit, but we will have very little inventory on hand.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $1,000 |
| Stationery etc. | $250 |
| Brochures | $1,000 |
| Insurance | $500 |
| Expensed Equipment | $1,000 |
| Domain Name | $75 |
| Total Start-up Expenses | $3,825 |
| Start-up Assets | |
| Cash Required | $6,175 |
| Other Current Assets | $2,000 |
| Long-term Assets | $0 |
| Total Assets | $8,175 |
| Total Requirements | $12,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $3,825 |
| Start-up Assets to Fund | $8,175 |
| Total Funding Required | $12,000 |
| Assets | |
| Non-cash Assets from Start-up | $2,000 |
| Cash Requirements from Start-up | $6,175 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $6,175 |
| Total Assets | $8,175 |
| 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 | |
| Jake and Lisa Wilson | $12,000 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $12,000 |
| Loss at Start-up (Start-up Expenses) | ($3,825) |
| Total Capital | $8,175 |
| Total Capital and Liabilities | $8,175 |
| Total Funding | $12,000 |
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