Computers
1 x 21.5 inch iMac at £1,299.00
1 x 27 inch iMac at £1,749.00
Total: £3,048.00
External Hard Drives
2 x 2TB external hard-drives at £89.99 each
Total: £179.98
Software
2 x annual plans at £53.20 each
1 x fontographer bundle at £237.40
Total: £343.80
Grand Total For Computers and Software: £3,571.78
Furniture
1 x grey desk £120.00
1 white desk £120.00
Total: £240.00
1 x black lamp £26.00
1 x white lamp £26.00
Total: £52.00
1 x black chair £35.00
1 x white chair £35.00
Total: £75.00
1 x black floor lamp £50.00
1 x white floor lamp £50.00
Total: £100.00
1 x black bin £15.00
1 x white bin £15.00
Total: £30.00
2 x black wall shelves £10.00
2 x white wall shelves £10.00
Total: £20.00
1 x storage cabinet £155.00
Total: £155.00
2 x noticeboards £4.50
Total: £9.00
1 x wall clock £7.50
Total: £7.50
Pens, pencils, rubbers, paints, general materials...
Total Budget: £200.00
1 x black sofa for customers £495.00
Total: £495.00
2 x cushions at £2.50 each
Total: £5.00
2 x white cushion covers at £3.00 each
Total: £6.00
Grand Total For Furniture & Materials: £1,394.50
Our Vision:
Ultimate Total For Start Up: £4,966.28
Graduate Loans with HSBC
By applying for the maximum loan with HSBC, we can borrow up to £25,000 and pay this back at a monthly cost of £312.91 over 96 months (8 years). This would allow us to start up our business successfully and allow the cost of wages, rent (wifi, heating etc included) and other expenses, such as travel costs and food.
£312.91 seems like a lot of money to pay back per month, but when we thought about the grand scheme of things, if I had one 5 hour job (charging £100 per hour) in the first month of working, we would earn £500 which will pay off the loan cost for that month, with £187.09 left over. This money would be profit and shared between the partnership. For the first two years, we will focus on paying off the loan as well as paying our wages so that we can live. From the third year onwards, we will focus on expanding the company and aim to hire new employees. By year 5 we hope to have a fully working business with 20-30 employees.
We thought that we could defer our first loan repayment for the first 3 months in order to get things going in the business and settle in to the new working environment.
We also thought that we would save up for a couple of years to pay for our start up costs outside of the loan, this means that we might not necessarily have to borrow as much money, due to £5,000 of the costs would already been taken care of! (plus more as we'll aim to save as much as possible over 2-3 years before starting).
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