Burly Skate Shop
Company Summary
Burly is organized as a partnership between Nollie and Ollie Casperflip.
We will be located at 1234 Skate Rd. N, Suburb, Oregon, with the Suburb Central Chariots bus stop on the corner, approximately three blocks from the Suburb skate park, in the highly trafficked School House Square Mall. Burly will be the only skate shop in Suburb, Oregon.
The hours of operation will be Monday – Thursday 11 a.m. – 8 p.m., Friday – Saturday 10 a.m. – 10 p.m., and Sunday 12 p.m. – 6 p.m.
All product purchases will be subject to the company’s mission of providing only high-quality, cutting-edge items.
2.1 Start-up Summary
Burly’s costs are listed below. The company will start with three months’ inventory on hand for apparel and accessories, as this is the main revenue generator. The majority of the company’s assets will reside in inventory.
The purpose of this business plan is to secure a $50,000 small business loan. This supplemental financing is required to work on site preparation, inventory, and operational expenses.
The owners’ cash investment of $5,600 will be applied towards any required qualifications for small business loan and will be applied towards the start-up cost. The owners will also contribute current assets consisting of racks, hangers, shelves, etc. valued at approx. $1,200.
Successful operation and building a loyal customer base will allow Burly to be self sufficient and profitable at the end of one year.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $250 |
| Stationery etc. | $300 |
| Remodeling | $3,000 |
| Web Site | $293 |
| Insurance | $1,100 |
| Rent | $3,750 |
| Research and Development | $1,000 |
| Expensed Equipment | $2,000 |
| Utilities/phone/POS system | $2,344 |
| Total Start-up Expenses | $14,037 |
| Start-up Assets | |
| Cash Required | $1,563 |
| Start-up Inventory | $40,000 |
| Other Current Assets | $1,200 |
| Long-term Assets | $0 |
| Total Assets | $42,763 |
| Total Requirements | $56,800 |
| Start-up Funding | |
| Start-up Expenses to Fund | $14,037 |
| Start-up Assets to Fund | $42,763 |
| Total Funding Required | $56,800 |
| Assets | |
| Non-cash Assets from Start-up | $41,200 |
| Cash Requirements from Start-up | $1,563 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $1,563 |
| Total Assets | $42,763 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $50,000 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $50,000 |
| Capital | |
| Planned Investment | |
| Cathy Falgout | $2,800 |
| Claude Falgout | $2,800 |
| Current Assets | $1,200 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $6,800 |
| Loss at Start-up (Start-up Expenses) | ($14,037) |
| Total Capital | ($7,237) |
| Total Capital and Liabilities | $42,763 |
| Total Funding | $56,800 |
2.2 Company Ownership
Burly is organized as a partnership between Nollie Casperflip and Ollie Casperflip. Nollie Casperflip will handle all merchandising while Ollie Casperflip will handle all administrative duties. Both will share managerial duties.
Nollie Casperflip has been the Founder and Executive Director of Operations for a foster-care and family advocacy group, for the past 18 years. Nollie holds two Masters Degrees and was a Professor for 9 years.
Ollie Casperflip has been the Executive Director of Administrations for the same foundation for the past 11 years. Ollie Casperflip holds a Masters Degree in Administration, and has been an avid skateboarder since the age of 14.
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