The key elements of The Spot are:
- Focus on attracting college-age women. The company will focus on design and musical themes that have mass appeal to college-age women.
- Location. One of the major advantages that the Spot will have over its competition will be its location next to the university campus.
- Exceptional service. In order to reach and maintain a unique image of quality, the Spot will provide attentive and friendly service.
2.1 Start-up Summary
The Spot has three owners, Robert Shaw, Jill Morse, and Sheila Thompson, who will each invest £70,000.
| Start-up Funding |
| Start-up Expenses to Fund |
£112,500 |
| Start-up Assets to Fund |
£97,500 |
| Total Funding Required |
£210,000 |
|
|
| Non-cash Assets from Start-up |
£20,000 |
| Cash Requirements from Start-up |
£77,500 |
| Additional Cash Raised |
£0 |
| Cash Balance on Starting Date |
£77,500 |
| Total Assets |
£97,500 |
|
|
|
|
|
|
| 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 |
|
| Robert Shaw |
£70,000 |
| Jill Morse |
£70,000 |
| Sheila Thompson |
£70,000 |
| Other |
£0 |
| Additional Investment Requirement |
£0 |
| Total Planned Investment |
£210,000 |
|
|
| Loss at Start-up (Start-up Expenses) |
(£112,500) |
| Total Capital |
£97,500 |
|
|
|
|
| Total Capital and Liabilities |
£97,500 |
|
|
| Total Funding |
£210,000 |
| Start-up |
|
|
| Legal |
£2,000 |
| Stationery etc. |
£500 |
| Consultants |
£0 |
| Insurance |
£1,000 |
| Rent |
£4,000 |
| Research and Development |
£0 |
| Interior Refit |
£30,000 |
| Expensed Equipment |
£20,000 |
| Air Cond. Upgrade |
£5,000 |
| Audio/Lighting |
£10,000 |
| Bar Equipment/Supply |
£10,000 |
| Fees and Permits |
£7,000 |
| Bathroom Upgrades |
£5,000 |
| Initial Marketing |
£3,000 |
| Opening Salaries Deposits |
£15,000 |
| Other |
£0 |
| Total Start-up Expenses |
£112,500 |
|
|
| Cash Required |
£77,500 |
| Start-up Inventory |
£0 |
| Other Current Assets |
£0 |
| Long-term Assets |
£20,000 |
| Total Assets |
£97,500 |
|
|
| Total Requirements |
£210,000 |
2.2 Company Ownership
The Spot has three owners, Robert Shaw, Jill Morse, and Sheila Thompson.
Robert Shaw has a BS in business administration from State University. He successfully managed three bars over the past 10 years. He is currently in his fifth year as manager of Tom's Landing, the most popular bar in the university area.
Jill Morse holds a BA in marketing. She has held a marketing positions with Nike and Sony before starting the Olympus nightclub with Sheila Thompson in 1996.
Sheila Thompson has a BS in business administration. Before co-owning the Olympus, Sheila managed two successful nightclubs, the Arena and the Power Plant, over a 10 year period.
