Wheelie Deals is a wholesale distributor of closeout bicycle parts. The warehouse is based in Albany, Oregon. Wheelie Deals services the national retail bicycle industry with manufacturer closeouts, seconds, and last-year model bicycle parts and components.
2.1 Start-up Summary
Wheelie Deals will incur the following start-up costs:
- Pallet racking.
- Pallet truck.
- Pallet shelving.
- Forklift (used).
- Three computer systems including CD-RW, printer, DSL connection, Microsoft Office, and QuickBooks Pro.
- Three desks and chairs.
- File cabinets.
- Three phone lines.
Please note that the following items which are considered assets to be used for more than a year will labeled long-term assets and will be depreciated using G.A.A.P. approved straight-line depreciation method.
|Total Start-up Expenses||$1,300|
|Other Current Assets||$0|
|Start-up Expenses to Fund||$1,300|
|Start-up Assets to Fund||$63,700|
|Total Funding Required||$65,000|
|Non-cash Assets from Start-up||$34,750|
|Cash Requirements from Start-up||$28,950|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$28,950|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Friends and family||$40,000|
|Additional Investment Requirement||$10,000|
|Total Planned Investment||$65,000|
|Loss at Start-up (Start-up Expenses)||($1,300)|
|Total Capital and Liabilities||$63,700|
2.2 Company Ownership
Wheelie Deals is an privately held Oregon corporation founded and owned by Dan Psycle.