Visions has been a dream for the founders; it was essential for a salon/health club/spa to nurture mind, body, and spirit. This combination is hard to come by in Seattle, and so the four founders decided to create the Visions health club and sought the backing of three angel investors.
VS is located in the Queen Anne Hill district of Seattle, Washington, and provides a magical setting for this soothing building. It is downtown and in the heart of our target market.
2.1 Start-up Summary
The table that follows details projected starting costs.
|Research and development||$0|
|Total Start-up Expenses||$25,000|
|Other Current Assets||$75,000|
|Start-up Expenses to Fund||$25,000|
|Start-up Assets to Fund||$580,000|
|Total Funding Required||$605,000|
|Non-cash Assets from Start-up||$80,000|
|Cash Requirements from Start-up||$500,000|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$500,000|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$5,000|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$600,000|
|Loss at Start-up (Start-up Expenses)||($25,000)|
|Total Capital and Liabilities||$580,000|