Wheelie Deals
Company Summary
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.
- Pallets.
- 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.
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $1,000 |
| Stationery etc. | $100 |
| Brochures | $200 |
| Other | $0 |
| Total Start-up Expenses | $1,300 |
| Start-up Assets | |
| Cash Required | $28,950 |
| Start-up Inventory | $10,000 |
| Other Current Assets | $0 |
| Long-term Assets | $24,750 |
| Total Assets | $63,700 |
| Total Requirements | $65,000 |
| Start-up Funding | |
| Start-up Expenses to Fund | $1,300 |
| Start-up Assets to Fund | $63,700 |
| Total Funding Required | $65,000 |
| Assets | |
| 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 |
| Total Assets | $63,700 |
| 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 | |
| Dan | $15,000 |
| Friends and family | $40,000 |
| Other | $0 |
| Additional Investment Requirement | $10,000 |
| Total Planned Investment | $65,000 |
| Loss at Start-up (Start-up Expenses) | ($1,300) |
| Total Capital | $63,700 |
| Total Capital and Liabilities | $63,700 |
| Total Funding | $65,000 |
2.2 Company Ownership
Wheelie Deals is an privately held Oregon corporation founded and owned by Dan Psycle.
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