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Velocipede / Snowpede Borrow Bank

Company Summary

Velocipede/Snowpede Borrow Bank is a bicycle rental company operating in Eugene, OR. VS rents road bikes, mountain bikes, and tandems (two person bicycles) as well as snowshoes. In addition to providing rental equipment, VS offers detailed maps which indicate suggested rides/hikes. While there are other companies that offer rentals, none have as large  a selection or as detailed a trail system.

2.1 Start-up Summary

Velocipede/Snowpede Borrow Bank will incur the following start-up costs:

  • Three tandems, seven road bikes, 10 mountain bikes (five rigid bikes, five suspension bikes). GT will be the manufacturer of the road and mountain bicycles. KHS will manufacture the tandems.
  • Two repair stands and all of the necessary assorted tools.  The stands and tools will be manufactured by Park.
  • Twenty pairs of snowshoes of assorted sizes (different sizes have different weight capacities as well as different floatation capacities for varying depths of snow).
  • Twenty pairs of trekking poles.
  • A computer with a POS terminal and software.
  • A back-end computer with CD-RW and printer.
  • Fax machine and copier.
  • Counters and shelving units.
  • Office desk and chair.

Please note that the following items which are considered assets to be used for more than a year will be labeled long-term assets and will be depreciated using G.A.A.P. approved straight line depreciation method.

Sports equipment rental business plan, company summary chart image

Start-up Expenses
Legal $1,000
Stationary $200
Expensed Equipment $0
Other $0
Total Start-up Expenses $1,200
Start-up Assets
Cash Required $24,900
Other Current Assets $0
Long-term Assets $25,900
Total Assets $50,800
Total Requirements $52,000
Start-up Funding
Start-up Expenses to Fund $1,200
Start-up Assets to Fund $50,800
Total Funding Required $52,000
Non-cash Assets from Start-up $25,900
Cash Requirements from Start-up $24,900
Additional Cash Raised $0
Cash Balance on Starting Date $24,900
Total Assets $50,800
Liabilities and Capital
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Planned Investment
Investor 1 $52,000
Investor 2 $0
Other $0
Additional Investment Requirement $0
Total Planned Investment $52,000
Loss at Start-up (Start-up Expenses) ($1,200)
Total Capital $50,800
Total Capital and Liabilities $50,800
Total Funding $52,000

2.2 Company Ownership

Velocipede/Snowpede Borrow Bank is a privately held Oregon corporation owned entirely by Dan Jalopee.