Tropical Tan
Company Summary
Tropical Tan will, upon commencement of operations, provide the service of tanning booth rentals. We will provide an upscale, sanitary environment, along with quality lotions, swimwear, and sunglasses. Superior customer service and high quality tanning equipment will set Tropical Tan apart from the competition.
2.1 Company Ownership
Tropical Tan will be created as a Sole Proprietorship based in Chino Hills owned by its principal investors and principal operators.
2.2 Start-up Summary
Keith and Shelly Harwood have $65,000 to invest in the business and are looking to finance an additional $50,000 for the build out and start up of their salon. The funds will be used to finance start-up costs, remodel the location, purchase the equipment, and initial inventory. The funds will be repaid through earnings.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $250 |
| Stationery etc. | $100 |
| Brochures | $0 |
| Consultants | $0 |
| Insurance | $100 |
| Rent | $1,817 |
| Research and Development | $0 |
| Expensed Equipment | $27,000 |
| Other | $0 |
| Total Start-up Expenses | $29,267 |
| Start-up Assets | |
| Cash Required | $29,333 |
| Start-up Inventory | $250 |
| Other Current Assets | $0 |
| Long-term Assets | $27,000 |
| Total Assets | $56,583 |
| Total Requirements | $85,850 |
| Start-up Funding | |
| Start-up Expenses to Fund | $29,267 |
| Start-up Assets to Fund | $56,583 |
| Total Funding Required | $85,850 |
| Assets | |
| Non-cash Assets from Start-up | $27,250 |
| Cash Requirements from Start-up | $29,333 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $29,333 |
| Total Assets | $56,583 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $20,000 |
| Accounts Payable (Outstanding Bills) | $850 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $20,850 |
| Capital | |
| Planned Investment | |
| Keith Harwood | $40,000 |
| Shelly Harwood | $25,000 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $65,000 |
| Loss at Start-up (Start-up Expenses) | ($29,267) |
| Total Capital | $35,733 |
| Total Capital and Liabilities | $56,583 |
| Total Funding | $85,850 |
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