1. Executive Summary
InternetGurus is a start-up web
development company that will be located in Duluth, Minnesota. The company will
specialize in website design, CD-ROM development, custom programming services,
and other business web-related services.
1.1 Business Opportunity
The writing has been "on the
wall" for quite some time for Internet-related businesses. Everyone in the
U.S. has heard of the Internet and most businesses attempt to market their
wares on it. However, since the "dot com" bust, many companies have
shied away from the Internet or re-focused on more traditional forms of doing
business. This gives InternetGurus a tremendous business opportunity. Consider
the following Internet facts:
"The number of people in the U.S.
with internet access rose from 88 million in the first half of 2000 to 104
million by the second half."
Internet News 4/6/2001
"135 million Americans went online
in 2000, more than half every day, putting the U.S. at the top of the total
online population heap."
The Pew
Internet American Life Project 2/21/2001
"Internet penetration has reached
60 percent in the U.S., with more than 168 million people having Web access
from either the home or the workplace."
Nielsen/NetRatings 2/14/2001"Minnesota is the fastest-growing
state in the Midwest."
Minnesota Planning State Demographic
Center
2/1/2000
The current lull in Internet-related
activity will be short-lived. InternetGurus could not ask for a more
appropriate time to enter the web services business than today. Currently,
there is no dominant web development company in the Duluth market, making it a
ripe opportunity for InternetGurus.
With InternetGurus requiring only a
single-start up loan, its debt load will be very light. Within three years, the
company's balance should look like this:
1.2 Services Description
InternetGurus will target Duluth
industries including tourism, healthcare, financial/banking, mining, paper,
communications, education, and shipping. The type of services the company will
offer include Web Site Design, CD-ROM Development, Database Design, and other
web based services.
1.3 Current Business Position
InternetGurus is very near to launch.
The principal, Ms. Michelle Richards, has many years of web development
experience with Microsoft. Her experience will give InternetGurus a significant
competitive advantage over all other companies in Duluth offering web-related
services.
1.4 Financial Potential
InternetGurus
has tremendous financial potential. Unlike the competition, the company will be
staffed with technology experts. This gives InternetGurus the possibility of
achieving a significant return on sales.
Follows is a 3-year income projection
for InternetGurus:
1.5 The Request
InternetGurus is a requesting a start-up
loan in the amount of $85,000. These funds will be used to purchase equipment
and start-up advertising, as well as provide sufficient working capital during
the company's first few months of operation.
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