Our biggest savings of the year
Enchanted Vineyard B & B
The Enchanted Vineyard Bed & Breakfast, located in the Lorane Valley, will offer a luxurious, quaint B&B for people to enjoy. The Enchanted Vineyard Bed & Breakfast will have four individual rooms with private baths, a central living room/socializing area, a garden patio, and an adjoining vineyard for its guests.
2.1 Company Ownership
The Enchanted Vineyard Bed & Breakfast is a sole proprietorship of Missy Stewart. The B&B uses John and Missy’s home as the Inn.
2.2 Start-up Summary
The Enchanted Vineyard Bed & Breakfast start-up expenses include:
- Home office equipment including: computer, copier, fax machine, extra telephone line, desk and filing cabinet.
- Extra computer for the living room with Internet access via a DSL line.
- Website creation.
- Advertising/association dues for the local B&B association.
- Remodeling of the house to add two individual bedrooms with baths, a patio and to enlarge the common areas.
Please note that the cost of the remodeling will be depreciated using the straight line method over a 30-year schedule. Although the Inn will have to finish their research into tax law, it does appear that the Inn will be allowed to depreciate the remodeling as the additions will be used only for business.
|Research and Development||$0|
|Total Start-up Expenses||$1,800|
|Other Current Assets||$1,500|
|Start-up Expenses to Fund||$1,800|
|Start-up Assets to Fund||$214,200|
|Total Funding Required||$216,000|
|Non-cash Assets from Start-up||$203,000|
|Cash Requirements from Start-up||$11,200|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$11,200|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$2,000|
|Additional Investment Requirement||$0|
|Total Planned Investment||$201,600|
|Loss at Start-up (Start-up Expenses)||($1,800)|
|Total Capital and Liabilities||$214,200|