Master Minders Mission and Keys to Success - Essay Example

Master Minders will start as a private proprietorship, owned by its founders, Ms. Fakiri and Ms. Stefanova. As the operation grows, the owners will consider re-registering as a limited liability company. This start-up is principally managed by its two founders. Both are capable of handling the sales/management and finance/administration areas, respectively. There are also three other partners Ms. Tapp, Ms. Powell, and Mr. Stilling Each of them owns 5% of the business. They will offer their assistance in some management decisions.

III.2 Start-up Expenses and Capitalization

Costs will vary depending on how the business is structured as it may be possible to run the business from home. However, it may be preferable to set up in proper office premises.
Start-up and running costs will therefore include a variety of the following:

• Office rent and rates (this may include a premium for a lease).
• Professional indemnity and other insurance.
• Stationery – some print shops offer start-up packages for approximately ₤500 which include printed letterhead paper, compliment slips, business cards, invoice pads, and envelopes. Alternatively, we may be able to design and print by ourselves using a PC and a software package such as Microsoft Publisher.
• Promotional material – this may include leaflets outlining our services and the cost of advertising.

• Computer/printer/modem – from ₤1,000.
• Desk and office chair – around ₤200.
• Fax/telephone – from ₤150.
• Photocopier – from ₤250.
• Website design – from around ₤250 upwards.

The table below reflects the projected start-up expenses for Master Minders which will be ₤10,000. Master Minder’s owners will finance solely these costs with their cash funds. Future expansion, growth, and franchising strategy will be self-financed. Master Minders provides a complex blend of services to distinct populations. The company serves clients by connecting them with the contingent workforce. It also serves the babysitter by connecting them with clients, at no charge, and providing benefits not often provided by other employment agencies such as employee group health insurance.  Read More