2.6 Company Ownership

Skyworld is a privately held Oregon Limited Liability Corporation Mahmoud Ibrahim, the founder of Skyworld, is the majority owner. Saida Usman, Haleema Idris, and Asha Sinare, all hold minority stock positions as private investors.

2.6.1 Start-up Summary

Skyworld's start-up costs will cover coffee making equipment, site renovation and modification, capital to cover losses in the first year, and the communications equipment necessary to get its customers online.

The communications equipment necessary to provide Skyworld's customers with a high-speed connection to the Internet and the services it has to offer make up a large portion of the start-up costs. These costs will include the computer terminals and all costs associated with their set-up. Costs will also be designated for the purchase of two laser printers and a scanner.

In addition, costs will be allocated for the purchase of coffee making equipment. One espresso machine, an automatic coffee grinder, and minor additional equipment will be purchased from Allann Brothers.

The site at 10th and Oak will require funds for renovation and modification. A single estimated figure will be allocated for this purpose. The renovation/modification cost estimate will include the costs associated with preparing the site for opening business.

Start-up Expense Details:

• 11 computers = N22,000

• two printers = N1,000

• one scanner = N500

• software = N810

• one espresso machine = N10,700

• one automatic espresso grinder = N795

• other fixtures and remodeling:

  • two coffee/food preparation counters = N1,000

  • one information display counter = N1,000

  • one drinking/eating counter = N500

  • sixteen stools = N1,600

  • six computer desks w/chairs = N2,400

  • stationery goods = N500

  • two telephones = N200

  • decoration expense = N13,000

Start-up
Requirements
Start-up Expenses
Legal	N500
Stationery etc.	N500
Brochures	N500
Consultants	N2,000
Insurance	N700
Rent	N1,445
4-group Automatic Coffee Machine	N10,700
Bean Grinder	N795
Computer Systems (x11), Software, Printer, Scanner	N24,310
Communication Lines	N840
Fixtures/Remodel	N20,000
Total Start-up Expenses	N62,290
Start-up Assets
Cash Required	N24,000
Start-up Inventory	N2,000
Other Current Assets	N0
Long-term Assets	N0
Total Assets	N26,000
Total Requirements	N88,290