• Business overview
Having $150,000 acquired in cash to be used specifically for a distressed real estate purchase, I would buy a two story building that is between 2000-4000 square feet. The ideal location is in a progressive lower-middle class, urban area accessible to public transportation. The first floor will be a renovated and designed to meet the needs of a commercial space. iSOAR© will occupy the space. The second floor will be renovated and designed as a residential space to be rented out for extra annual residual.
iSOAR© established in 2008, is a non-profit helping young girls and women with anger management. Women offenders have different needs than that of men and very few programs offer effective, and permanent, positive change. It is my greatest desire to contribute to the rehabilitation of our young girls and often forgotten women regain the life deserved.
iSOAR© Mission Statement: Learning to fly with two legs.
iSOAR© Goal: Break destructive cycles, encourage & provide effective tools for individuals who have made mistakes but want a chance to reshape their futures. Each individual has the ability to create positive change and have the desired life past unlikely situations and experiences.
• Financial plan
Because one half of the building will be used for a commercial, non-profit space I have no intentions of renting or leasing. I will invest less than one third of the seed money, $20,000 on the property.
One-Time Start-Up Costs (estimates):
Building purchase price: $20,000 (approximately $5-$10 per sq ft)
Renovations (including decorating and remodeling): $30,000
Vending machine: $1000
Starting inventory, computer hardware/software etc.: $250.00
Setup, installation and consulting fees: $100.00
Business cards and stationery: $25.00
Legal and other professional fees: $200.00
Business licenses and permits: $200.00
Advertising and promotion: (State aide referrals, free); other $50.00
Reoccurring Monthly Expenses (estimate) | Commercial Space, first floor:
Salary of owner-manager: Commercial space, first floor: Non-profit
Other salaries, wages & commissions: $1000 per/month, stipends
*Utilities: $300.00-$500.00 (seasonal)
*Telephone / Internet services: $130.00
General business insurance: $130.00
*Miscellaneous Repairs/Supplies: $2000.00
*includes outgoing expenses for residential space
Additional Income | Residential, second floor:
Commercial space, first floor: Vending machine: $50-$150 per month
Residential space, second floor: Rented by a tenant: $1000.00 per month, includes electricity, water, gas, trash included. Lease, 12 month minimum.
Fees (rounded estimate):
Starter costs: $55,000
Reoccurring costs: $4050
Starter costs + Reoccurring costs = $59,050
$59,050 - $150,000 (seed money) =...