Executive Summary
ADVENTURE WORKS is a high-end design and remodeling firm with a reputation for
integrity, quality craftsmanship, and excellence in management. In three years annual sales
have increased to be well over a million dollars.
ADVENTURE WORKS was formed by Brian Groth as a Sole Proprietorship in December 1997.
In 1998 a combination of activities involving residential design, consulting, and general
construction brought Gross Sales of $250,000.
The Company experienced steady growth since its inception, and incorporated in March 1999,
(see Appendix 6, Articles of Incorporation). In 1999 Gross Sales of $750,000 were achieved. In
2000, signed contracts show that Gross Sales are expected to be $1,300,000 (see Appendix 2,
current Backlog).
The Company has its address in leased premises at 1234 A Street, Springfield, MD 40523. Its
activities fall under the Standard Industrial Classification SIC 1521 and 1522. The owners are
Brian Groth and Julie Bankert.
ADVENTURE WORKS is involved in four distinct activities:
1. Architectural Design
2. Residential & Light Commercial Construction
3. Property Services
4. Retail Floor Coverings (see Appendix 4).
Eighty to ninety percent of the Gross Sales are in design and construction. At the moment (May
2000), there are 25 permanent employees on the payroll and 10 subcontracted workers
excluding subcontracting companies (see Appendix 1 for resumes).
The company's Short Term Objectives (within the next three years) are to increase activity in all
Divisions, and to achieve annual profit, net after taxes, of $200,000 by 2005. Its Long term
objectives are: to maintain the level of current business achieved up to 2005, and then to move
into historical restorations, more light commercial work, and increased new custom home
construction.
To implement these objectives the company needs:
1. A loan of $100,000 at Prime plus 2%. This loan to be used for current near term expenses
including __________________, ______________ and ____________ It will be repaid in
five years.
2. A line of credit of $50,000 to take advantage of discounts available, avoid associated
penalties, and expand into high profit areas requiring positive cash flow.