Passion Soles is an upscale women’s shoe store located in Eugene, OR., an un-serviced niche. Customers looking for these shoes must travel up to Portland. Passion Soles will be able to offer a wide selection because they will typically only have one size available per style. This one size is used as a demonstrative model. All other sizes are available within two days.
2.1 Company Ownership
Passion Soles is a sole proprietorship owned by Holly Heels.
2.2 Start-up Summary
Passion Soles will incur the following start-up costs:
- Computer system with CD-RW, printer, Microsoft Office, QuickBooks Pro, and POS software.
- POS terminal/cash register.
- Back office desk and chair.
- Front of store counter.
- Shelving racks.
- Display racks.
- Chairs, mirrors.
- Assorted halogen track lighting.
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 Expenses to Fund||$600|
|Start-up Assets to Fund||$29,400|
|Total Funding Required||$30,000|
|Non-cash Assets from Start-up||$14,368|
|Cash Requirements from Start-up||$20,032|
|Additional Cash Raised||$0|
|Cash Balance on Starting Date||$20,032|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$0|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|Total Planned Investment||$30,000|
|Loss at Start-up (Start-up Expenses)||($600)|
|Total Capital and Liabilities||$29,400|
|Total Start-up Expenses||$600|
|Other Current Assets||$0|