SAFEassure, LLC was founded in Portland, Oregon, and created as a Limited Liability Corporation. SAFEassure, LLC develops and markets soaps utilizing time-sensitive dyes promoting sanitary and safe environments to businesses and parents interested in maximizing cleanliness. The company will initially be based out of a residential apartment in Portland.
The executive team will retain at least 70% of the equity in the company. Every $2,500 dollars of investment in the company will secure up to 1% equity in the company. Assuming 30% of the company is owned by investors, Devon Nevius will retain 40% ownership, with Kevin Meinert retaining 30%.
Total funding required to get the business started is estimated at $250,000, of which the executive management team – Devon Nevius and Kevin Meinert – will invest $100,000 and $75,000, respectively. An additional $75,000 investment necessary to develop a product and effectively bring SAFEassure’s products to an initially limited geographic region is sought from other investor(s).
The key elements in the start-up plan for the company are:
- Development of a working prototype.
- Funding of working capital requirements and promotional materials for the principal operating activities of the company.
- Gaining patent approval.
- Establish a strong brand image early to position ourselves in the market.
The founders have already developed a rough prototype of the product. Our start-up period includes 5 months of work by an independently-contracted chemist at a local lab who will perfect this design into a finished prototype, with the correct balance of soap and dyes in four colors. The final two months of this start-up period include safety tests per government regulations to assure high quality.
|Research and Development||$100,000|
|Total Start-up Expenses||$123,300|
|Other Current Assets||$0|
|Start-up Expenses to Fund||$123,300|
|Start-up Assets to Fund||$126,700|
|Total Funding Required||$250,000|
|Non-cash Assets from Start-up||$50,000|
|Cash Requirements from Start-up||$76,700|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$76,700|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$250,000|
|Loss at Start-up (Start-up Expenses)||($123,300)|
|Total Capital and Liabilities||$126,700|
Company Locations and Facilities
The management team of SAFEassure, LLC will initially use a residential apartment in Portland to run operations. In Year 2, we will move to a rented office. Distribution will remain outsourced.