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Passion Soles

Company Summary

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 Funding
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
Total Assets $34,400
Liabilities and Capital
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Planned Investment
Holly $30,000
Other $0
Additional Investment Requirement $0
Total Planned Investment $30,000
Loss at Start-up (Start-up Expenses) ($600)
Total Capital $29,400
Total Capital and Liabilities $29,400
Total Funding $30,000
Start-up Expenses
Legal $500
Stationery etc. $100
Other $0
Total Start-up Expenses $600
Start-up Assets
Cash Required $20,032
Other Current Assets $0
Long-term Assets $9,368
Total Assets $29,400
Total Requirements $30,000