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Pita Pal
Company Summary
Pita Pal is a recently formed PA based L.L.C. formed by Steve Jones. The company is wholly owned by Steve. The business will be based in downtown Washington and will serve the lunch and early evening crowd.
2.1 Start-up Summary
As a start-up organization, Pita Pal will require a decent amount of equipment to begin operations. The following is a somewhat complete list of the needed equipment:
- Cash register;
- Computer system, including printer, CD-RW, Internet connection;
- Convection oven;
- Refrigeration unit;
- Blender/food processor;
- Assorted knives, cutting boards, serving dishes, silverware, food containers;
- Shelving units;
- Tables, chairs, table clothes and other table accessories;
- Lighting units;
- Espresso machine and coffee maker (these items are subsidized by the coffee vendor who sells the coffee/espresso beans).
| Start-up Funding | |
| Start-up Expenses to Fund | $5,500 |
| Start-up Assets to Fund | $59,500 |
| Total Funding Required | $65,000 |
| Assets | |
| Non-cash Assets from Start-up | $25,000 |
| Cash Requirements from Start-up | $34,500 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $34,500 |
| Total Assets | $59,500 |
| 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 | |
| Entrepreneurship Program Loan | $40,000 |
| Investor 2 | $25,000 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $65,000 |
| Loss at Start-up (Start-up Expenses) | ($5,500) |
| Total Capital | $59,500 |
| Total Capital and Liabilities | $59,500 |
| Total Funding | $65,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $3,000 |
| Stationery etc. | $300 |
| Brochures | $500 |
| Consultants | $1,000 |
| Rent | $700 |
| Total Start-up Expenses | $5,500 |
| Start-up Assets | |
| Cash Required | $34,500 |
| Other Current Assets | $0 |
| Long-term Assets | $25,000 |
| Total Assets | $59,500 |
| Total Requirements | $65,000 |
2.2 Company Ownership
Pita Pal has been formed as a limited liability company in Pennsylvania. The L.L.C. business formation has been chosen as a way of protecting the owner from personal liability while avoiding double taxation associated with a traditional corporation.