Salvador's was founded by Ricardo & Patricia Torres and has operated without the burden of any payroll or salary expense to this point.
Patricia Torres - President Patricia is currently responsible for the preparation of salsa and maintaining the various inventories of raw materials; purchasing of food ingredients; assistance with packaging and shipping. In addition, she maintains the company records and is in direct communication with the accountant and other advisors.
Ricardo Torres - Vice President Ricardo assists with the preparation and production of salsa; maintains the inventory of the finished products; is responsible for packing and shipping; assists with recordkeeping and cost containment. Ricardo also shares in the marketing and promotion of the product.
Current plans are to bring Patricia on board in a paid capacity on or about August 1st, and we have forecast the proper expenses to do so. As orders are processed and goals met, Ricardo will take charge of the logistics and become a full time paid employee as well. We are currently forecasting this to transpire in the first quarter of 1997. We plan on hiring additional personnel as the need for them arises, and as we have the ability to pay them.
6.1 Organizational Structure
Salvador's planned organization calls for sales and marketing, product development, finance and administration. Actual production falls under the finance and administrative area. We are currently using outside consultants to assist in these areas.
6.2 Management Team
The management team is currently comprised of Ricardo and Patricia Torres, the founders of Salvador's, Inc. In addition, they have a board of advisors with over 78 years of administrative, financial, and sales management experience to assist them with management decisions on daily operations, and the long-range planning necessary for continued, consistent growth.
The team is currently compose of the following professionals:
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6.3 Management Team Gaps
The gaps in the management team are currently being addressed through the use of outside consultants as mentioned above, and will continue to be until the cash flow allows for the hiring of employees to fill those capacities. The identifiable gaps are in administration, finance management, and marketing.
6.4 Personnel Plan
The current personnel plan calls for Patricia to become a paid employee on or about August 1st. Although she has been working for Salvador's since its inception two years ago, she has not drawn a salary or been reimbursed for expenses. We are then planning on Ricardo taking a paid position with Salvador's by early 1997, or the successful approval of a Link Deposit Loan; whichever comes first.