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 |
| Assets | |
| 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 | |
| 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 | |
| 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 | |
| Requirements | |
| 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 |
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