Our biggest savings of the year
It’s Scrappy! is a scrapbook supply store that will stock hundreds of different types of products used for this hobby along with the knowledge of where to obtain those hard-to-find items a customer may want that are not part of our regular stock.
It’s Scrappy! will offer weekly classes to our customers to teach them the ongoing techniques used in creating beautiful scrapbook pages to preserve and protect their photographs.
In addition, It’s Scrappy! will provide design and implementation of original scrapbook pages.
2.1 Company Ownership
It’s Scrappy! is a Sole Proprietorship. The owner is investing $20,000 of their own money to start the business.
2.2 Start-up Summary
The primary start-up costs will be for inventory, shelving and Point-of-Sale equipment as well as initial advertising. The owner will invest $20,000.
The following table shows a breakdown of the expected start-up expenses.
|Start-up Expenses to Fund||$9,000|
|Start-up Assets to Fund||$10,000|
|Total Funding Required||$19,000|
|Non-cash Assets from Start-up||$9,500|
|Cash Requirements from Start-up||$500|
|Additional Cash Raised||$1,000|
|Cash Balance on Starting Date||$1,500|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$20,000|
|Loss at Start-up (Start-up Expenses)||($9,000)|
|Total Capital and Liabilities||$11,000|
|RENT – TWO MONTHS||$3,000|
|CASH REGISTER/CREDIT CARD TERMINAL||$900|
|Total Start-up Expenses||$9,000|
|Other Current Assets||$0|