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.
| Start-up | |
| Requirements | |
| 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 |
| Assets | |
| 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 | |
| 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 | $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.
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