SAFEassure
Company Summary
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.
Company Ownership
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%.
Start-up Summary
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.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $15,000 |
| Stationery etc. | $100 |
| Brochures | $5,000 |
| Consultants | $1,000 |
| Insurance | $500 |
| Rent | $0 |
| Website Development | $450 |
| Research and Development | $100,000 |
| Expensed Equipment | $250 |
| Other | $1,000 |
| Total Start-up Expenses | $123,300 |
| Start-up Assets | |
| Cash Required | $76,700 |
| Start-up Inventory | $50,000 |
| Other Current Assets | $0 |
| Long-term Assets | $0 |
| Total Assets | $126,700 |
| Total Requirements | $250,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $123,300 |
| Start-up Assets to Fund | $126,700 |
| Total Funding Required | $250,000 |
| Assets | |
| 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 |
| Total Assets | $126,700 |
| 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 | |
| Devon Nevius | $100,000 |
| Kevin Meinert | $75,000 |
| Other Investor(s) | $75,000 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $250,000 |
| Loss at Start-up (Start-up Expenses) | ($123,300) |
| Total Capital | $126,700 |
| Total Capital and Liabilities | $126,700 |
| Total Funding | $250,000 |
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.
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