Scholarship Assist
Company Summary
ScholarshipAssist has been founded on the idea that there are a wealth of scholarships available to students that few are aware of. By becoming professionals in this arena, ScholarshipAssist can generate significant profit while helping clients make college a reality. ScholarshipAssist has chosen Boston as its headquarters because of the huge pool of students in town including but not limited to Tufts, M.I.T., Harvard, Boston College, and the University of Massachusetts.
2.1 Company Ownership
ScholarshipAssist is a Massachusetts L.L.C. with Steve Tracker as the main shareholder.
2.2 Start-up Summary
ScholarshipAssist will require the following start-up equipment/expenses:
- Assorted office furniture for four work spaces, including desk, chair, light, computer;
- Computer server with laser printer, broadband Internet connection, fax machine;
- Assorted furniture for the waiting room;
- Legal consultation for the business organization formation, review of contracts, etc.;
- Business consultation – this service will be a fairly broad area of consulting from HR to marketing.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $3,000 |
| Stationery etc. | $300 |
| Brochures | $350 |
| Consultants | $2,000 |
| Rent | $1,000 |
| Research and Development | $4,000 |
| Expensed Equipment | $700 |
| Total Start-up Expenses | $11,350 |
| Start-up Assets | |
| Cash Required | $22,350 |
| Other Current Assets | $1,300 |
| Long-term Assets | $10,000 |
| Total Assets | $33,650 |
| Total Requirements | $45,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $11,350 |
| Start-up Assets to Fund | $33,650 |
| Total Funding Required | $45,000 |
| Assets | |
| Non-cash Assets from Start-up | $11,300 |
| Cash Requirements from Start-up | $22,350 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $22,350 |
| Total Assets | $33,650 |
| 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 | |
| Investor 1 | $45,000 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $45,000 |
| Loss at Start-up (Start-up Expenses) | ($11,350) |
| Total Capital | $33,650 |
| Total Capital and Liabilities | $33,650 |
| Total Funding | $45,000 |
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