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Simplistic Labyrinth Design Studio
Company Summary
Simplistic Labyrinth Design Studio is a company that designs products, primarily outdoor gear, that is then licensed. Some of the products are designed and then a licensee is searched for to purchase the design. Other times a manufacturer will come to Simplistic and ask them to develop a product for them.
Simplistic Labyrinth Design Studio was founded by Ikan Fabreekate and is based out of Ikan’s studio in his home in Portland, Oregon. Simplistic Labyrinth Design Studio’s revenue is from license fees and one-off prototypes. Simplistic Labyrinth Design Studio will reach profitability by month four and will have yearly revenues of $6,000 for year two.
2.1 Company Ownership
Simplistic Labyrinth Design Studio is a sole proprietorship owned by Ikan Fabreekate.
2.2 Start-up Summary
Simplistic Labyrinth Design Studio will incur the following start-up expenses:
- Computer system with CD-RW, printer, Microsoft Office, QuickBooks Pro, CAD/CAM software, and a DSL connection.
- A commercial walking foot sewing machine.
- A serger.
- A heat press for applying 2-ply hot tape, 3-ply hot tape, polyurethane hot tape, and nitrile hot tape.
- Hot knife.
- Bar tacker.
- Assorted threads, needles, scissors, and fabric cutters.
- Extra phone line.
- Web page development.
Please note that the following items which are considered assets to be used for more than a year will labeled long-term assets and will be depreciated using G.A.A.P. approved straight-line depreciation method.
| Start-up Funding | |
| Start-up Expenses to Fund | $200 |
| Start-up Assets to Fund | $17,800 |
| Total Funding Required | $18,000 |
| Assets | |
| Non-cash Assets from Start-up | $6,350 |
| Cash Requirements from Start-up | $11,450 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $11,450 |
| Total Assets | $17,800 |
| 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 | |
| Ikan | $18,000 |
| Investor 2 | $0 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $18,000 |
| Loss at Start-up (Start-up Expenses) | ($200) |
| Total Capital | $17,800 |
| Total Capital and Liabilities | $17,800 |
| Total Funding | $18,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $100 |
| Stationery etc. | $100 |
| Other | $0 |
| Total Start-up Expenses | $200 |
| Start-up Assets | |
| Cash Required | $11,450 |
| Other Current Assets | $0 |
| Long-term Assets | $6,350 |
| Total Assets | $17,800 |
| Total Requirements | $18,000 |