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Web Applications, Inc.

Company Summary

Web Applications, Inc. was established in 1998 to provide a Web-based business application with features that give users the ability to remain in touch with operations at all times from anywhere in the world. The company was formed by Mr. Lester Andrews and is a Georgia incorporated S-Corporation.

2.1 Start-up Summary

Start-up costs, expenses and funding sources are laid out in the tables and chart below.

Online services business plan, company summary chart image

Start-up Funding
Start-up Expenses to Fund $60,100
Start-up Assets to Fund $57,500
Total Funding Required $117,600
Non-cash Assets from Start-up $5,000
Cash Requirements from Start-up $52,500
Additional Cash Raised $0
Cash Balance on Starting Date $52,500
Total Assets $57,500
Liabilities and Capital
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $1,000
Other Current Liabilities (interest-free) $0
Total Liabilities $1,000
Planned Investment
Investor 1 $15,000
Investor 2 $101,600
Other $0
Additional Investment Requirement $0
Total Planned Investment $116,600
Loss at Start-up (Start-up Expenses) ($60,100)
Total Capital $56,500
Total Capital and Liabilities $57,500
Total Funding $117,600
Start-up Expenses
Legal $500
Stationery etc. $300
Sales Campaign $5,000
Dynamic Communications fees $4,200
Phone Lines $800
Rent $800
Hardware $23,500
Software $25,000
Total Start-up Expenses $60,100
Start-up Assets
Cash Required $52,500
Other Current Assets $5,000
Long-term Assets $0
Total Assets $57,500
Total Requirements $117,600

2.2 Financial Risks and Contingencies

The company recognizes that it is subject to both market and industry risks. We believe our risks are as follows, and we are addressing each as indicated.

  • Start-up company. We face all the risks associated with being a start-up company. We feel that we can overcome these with our experience in the industry and by quickly establishing desired relationships.
  • Security. Security is a major issue, but all features provide security options; documents and directories can be password-protected and have specific, user-only access rights.