Reed properties is a single-agent real estate brokerage that will serve the Richmond Metro area.
2.1 Company Ownership
Reed Properties is owned by Claudia Reed.
2.2 Start-up Summary
The start-up costs are outlined in the following chart. Start-up costs derive from office equipment, computer station complete with software, stationery, legal costs, furnishings, office advertising and services, and expenses associated with opening our office. The start-up costs are to be financed by direct owner investment. The assumptions are shown in the following table and chart. Lease office space averages $1.10-1.60 per square foot to equal an approximate of $1,500 per month, plus utilities, for efficient leased office space. Commercial lease will be for a three to five year agreement with the first month and a security deposit equal to the monthly lease rate payable at the time of lease start date.
|Start-up Expenses to Fund||$15,050|
|Start-up Assets to Fund||$9,950|
|Total Funding Required||$25,000|
|Non-cash Assets from Start-up||$0|
|Cash Requirements from Start-up||$9,950|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$9,950|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$25,000|
|Loss at Start-up (Start-up Expenses)||($15,050)|
|Total Capital and Liabilities||$9,950|
|Utilities Start Up||$250|
|Total Start-up Expenses||$15,050|
|Other Current Assets||$0|
2.3 Company Locations and Facilities
Reed Properties will be located downtown in the new Richmond Bank Building.