Mobile Elctric Electronic Fixsing Station

Mobile Elctric Electronic Fixsing Station

Generation Mobile Electric Electronic Fixsing Station

Introduction

Generation Electronic Services is a full-service electronic repair business opening in the revitalized Cherry Grove section of Montclair. The opening of the business is in conjunction with the completion of the Cherry Grove Shopping Center. Two of the center's tenants, Harry's Electronics and Olson's Appliance Superstore, have signed third-party repair agreements with Generation Electronic Services. Generation Electronic Services is under contract to provide authorized warranty service for selected manufacturers. In addition to business clients, Generation's will be open to the general public for repairs of consumer electronics either with or without warranty service. The residential community in Cherry Grove has experienced explosive growth and will serve as a strong customer base for Generation Electronic Services. Generation's owner, Richard Generation, has 25 years of experience in the consumer electronics repair field. His reputation for excellence is well established and he is a highly-respected electronics instructor at the community college's Electronics Engineering Technology program.

Mission

Generation Electronic Services aims to offer high-quality electrical repair services with a focus on convenience and rapid service. Additionally, Generation Electronic Services is technologically savvy with computerized monitoring of all parts inventory, to ensure that critical parts are always in stock, while keeping a balanced level of inventory to maximize inventory turnover. Finally, Generation Electronic Services has strong relationships with the regional vendors who are capable of shipping major parts rapidly (on an overnight timeline in most cases). Generation Electronic Services is about building a strong professional relationship with all our customers that is grounded in honesty, fairness and integrity of service.

Keys to Success

Generation Electronic Services' keys to success include:

Exceptional, expedient, and convenient electrical repair services.

Building a strong professional relationship with the customer base.

Rapid order and delivery of electrical part items.

Company Summary

`Generation Electronic Services is a start-up business managed by Richard Generation. The economic growth of Cherry Grove in the last several years has resulted in a revitalized community with numerous new services and businesses. As a result, the area's need for reliable and convenient electrical repair services has substantially risen as well. Generation Electronic Services will position itself to capitalize on the growing need of the middle- and upper-class market for quality electrical repair service in the metropolitan area. The company will be privately owned by Richard Generation, with most of the additional funding coming from a ten year SBA loan.

Start-up Summary

Richard Generation will invest personal funds. The remainder of the required financing will come from a ten-year Small Business Administration (SBA) loan. The following table and chart show projected initial start-up costs Generation Electronic Services.

Start-up Funding

Start-up Expenses to Fund

$40,800

Start-up Assets to Fund

$109,200

Total Funding Required

$150,000

Assets

Non-cash Assets from Start-up

$100,000

Cash Requirements from Start-up

$9,200

Additional Cash Raised

$0

Cash Balance on Starting Date

$9,200

Total Assets

$109,200

Liabilities and Capital

Liabilities

Current Borrowing

$0

Long-term Liabilities

$100,000

Accounts Payable (Outstanding Bills)

$0

Other Current Liabilities (interest-free)

$0

Total Liabilities

$100,000

Capital

Planned Investment

Richard

$50,000

Investor 2

$0

Other

$0

Additional Investment Requirement

$0

Total Planned Investment

$50,000

Loss at Start-up (Start-up Expenses)

($40,800)

Total Capital

$9,200

Total Capital and Liabilities

$109,200

Total Funding

$150,000

Start-up

Requirements

Start-up Expenses

Legal

$3,000

Stationery etc.

$300

Rent

$1,000

Start-Up Inventory

$15,000

Leased Equipment

$1,500

Start-Up Equipment

$20,000

Other

$0

Total Start-up Expenses

$40,800

Start-up Assets

Cash Required

$9,200

Other Current Assets

$0

Long-term Assets

$100,000

Total Assets

$109,200

Total Requirements

$150,000

Company Ownership

Generation Electronic Services is privately ...