Plynthe Insurance is founded by Kolem Plynthe as a local, independent insurance agent providing personal insurance products to residents of Peristyle Gardens and its neighboring towns. The business will begin as a home-based business with Kolem Plynthe as the owner and only employee, and continue to grow through the establishment of a local office and the addition of associate agents to better serve the community. Kolem Plynthe is an experienced salesperson and newly certified insurance agent. The business will broker insurance purchases for property insurance (home & contents, valuable possessions, renter’s insurance), personal liability, and life insurance.
Plynthe Insurance is founded and owned entirely by Kolem Plynthe. The business is currently incorporated as a sole proprietorship with a registered DBA, but will reincorporate as an LLC when there is a need to hire additional employees and open an office.
Plynthe Insurance requires very little in the way of start-up funding. Expenses include the licenses for Kolem Plynthe and the business, business insurance, stationery (business cards and brochures), and a basic website. Rent will not be required at the outset as Kolem Plynthe will operate out of a home office. Most of the start-up funding is required to cover operating expenses until break even is achieved halfway through the first year of operation.
|Legal (license and permits)||$2,000|
|Total Start-up Expenses||$8,000|
|Other Current Assets||$0|