Male Gear Wear
Company Summary
Gear Wear is a Ashland, Oregon based retailer of men’s aerobic sports clothing. Gear Wear will concentrate on running, cycling, cross country skiing and snowshoeing apparel.
Currently, there are local retailers that offer these types of garments, however most retailers are sport specific, such as a bicycle shop or a running store. The few retailers that have a wide range of sports have limited inventories. This company was founded on the premise that most aerobic sport athletes participate in more than one type of activity.
2.1 Start-up Summary
Gear Wear is in the process of starting up the company. Legal counsel was consulted for a variety of issues including business organization formation, contract negotiations, and etc. Gear Wear also utilized a business consultant to gain insight into business issues that were not intuitive to Stan. Gear Wear will incur $10,000 of build out expenses for the space. The following equipment will be needed for start-up:
- Cash register and bar code scanner.
- Computer system with printer, scanner, and Internet connection.
- Assorted display racks, shelves, mirrors, etc.
- Stereo system.
| Start-up Funding | |
| Start-up Expenses to Fund | $17,900 |
| Start-up Assets to Fund | $82,100 |
| Total Funding Required | $100,000 |
| Assets | |
| Non-cash Assets from Start-up | $9,000 |
| Cash Requirements from Start-up | $73,100 |
| Additional Cash Raised | $15,000 |
| Cash Balance on Starting Date | $88,100 |
| Total Assets | $97,100 |
| 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 | |
| Investor 1 | $45,000 |
| Investor 2 | $25,000 |
| Investor 3 | $45,000 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $115,000 |
| Loss at Start-up (Start-up Expenses) | ($17,900) |
| Total Capital | $97,100 |
| Total Capital and Liabilities | $97,100 |
| Total Funding | $115,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $3,000 |
| Stationery etc. | $300 |
| Brochures | $200 |
| Consultants | $2,500 |
| Rent | $900 |
| Research and Development | $1,000 |
| Other | $10,000 |
| Total Start-up Expenses | $17,900 |
| Start-up Assets | |
| Cash Required | $73,100 |
| Start-up Inventory | $0 |
| Other Current Assets | $0 |
| Long-term Assets | $9,000 |
| Total Assets | $82,100 |
| Total Requirements | $100,000 |
2.2 Company Ownership
Gear Wear is an Oregon L.L.C. founded by Stan Gearboy in late 2002.
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