Barnum Painters
Company Summary
Barnum Painters is a start-up limited liability company consisting of three principle officers with combined industry experience of 40 years. The company was formed to take advantage of the perceived weakness and inadequacies of other regional companies in terms of quality and customer satisfaction. Barnum Painters will be a partnership between Mr. William Barnum, Mr. Anthony Barnum and Mr. Michael Kruger. The principles in the company will be investing significant amounts of their own capital into the company and will also be seeking a loan to cover start-up costs and future growth.
Barnum Painters will be located in a rented suite in the Rucker Industrial Park on 710 Snoquamie Route, Suite 250 in Edmonds, WA. The facilities will include a reception area, offices for the principals, storage area for inventory, and employee lounge.
The company plans to use its existing contacts and the combined customer base of Mr.’s Barnum and Kruger to generate short-term residential contracts. Its long-term profitability will rely on focusing on commercial contracts that will be obtained through strategic alliances and a comprehensive marketing program.
Company Ownership
Barnum Painters is a privately owned limited liability partnership with each of the principal officers holding an equal share in the company.
Start-up Summary
The following table and chart show the start-up costs for Barnum Painters.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $400 |
| Stationery etc. | $300 |
| Brochures | $500 |
| Consultants | $750 |
| Insurance | $600 |
| Rent | $4,000 |
| Expensed equipment | $0 |
| Expensed Equipment | $0 |
| Other | $0 |
| Total Start-up Expenses | $6,550 |
| Start-up Assets | |
| Cash Required | $40,150 |
| Start-up Inventory | $850 |
| Other Current Assets | $0 |
| Long-term Assets | $4,000 |
| Total Assets | $45,000 |
| Total Requirements | $51,550 |
| Start-up Funding | |
| Start-up Expenses to Fund | $6,550 |
| Start-up Assets to Fund | $45,000 |
| Total Funding Required | $51,550 |
| Assets | |
| Non-cash Assets from Start-up | $4,850 |
| Cash Requirements from Start-up | $40,150 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $40,150 |
| Total Assets | $45,000 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $7,000 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $7,000 |
| Capital | |
| Planned Investment | |
| William Barnum | $15,000 |
| Anthony Barnum | $18,550 |
| Michael Kruger | $11,000 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $44,550 |
| Loss at Start-up (Start-up Expenses) | ($6,550) |
| Total Capital | $38,000 |
| Total Capital and Liabilities | $45,000 |
| Total Funding | $51,550 |
Company Locations and Facilities
Barnum Painters will be located in a rented suite in the Rucker Industrial Park on 710 Snoquamie Route, Suite 250 in Edmonds, WA. The facilities will include a reception area, offices for the principals, storage area for inventory, a painting booth, tool area and employee lounge.
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