XXX Properties, LLC’s general business concept is to construct and sell infillcommercial office buildings within the core city of Brighton, Colorado. Infilllocations will be in the Brighton Enterprise Zone and Brighton Urban RenewalAreas. The infill lots may be vacant or occupied with 40+ year old houses, 800to 1,000 square feet in size, that are rundown, unattractive, or an eyesore to theneighbors.XXX Properties, LLC (previously doing business as XXX Homes, LLC) is anexisting company having started operations in April 200X. The firm is currentlybased in Brighton, Colorado, and is located at XXX, Brighton, Colorado 80601. The firm is owned by Jane Doe (80%) and John Doe (20%). Through the development of property in the Brighton Colorado Enterprise Zone,XXX Properties, LLC will provide commercial space for sale to professionals inthe area. The reason that XXX Properties, LLC is targeting Brighton, Colorado, is thataccording to XXX, as of 2006 the five-mile radius of Brighton, Colorado, has anestimated total of 33,047 people. This population is projected to grow over 15%by 2011. The 2006 average household income for this area was $66,452,compared to the US average which was $63,629.With population increase comes an increase in demand for various professionalservices. The owners of XXX Properties, LLC have identified three groups of customers for their new XXX Avenue Center’s prime office space:
Professional, Scientific, and Technical Services
Administrative and Support Services
Ambulatory Health Care Services The State of Colorado projects a 57% increase statewide in these threeindustries: Professional, Scientific, and Technical Services, Administrative andSupport Services, and Health Care & Social Assistance. More locally, the stateprojects increases of 54.4%, 44.3% and 33.3% for the same industries,respectively. The owners of XXX Properties, LLC have over 45 years of combined experiencein semi-custom home building, interior design, commercial and industrialproject development, and residential development and sales in California andColorado.XXX Properties, LLC’s first year funding totals $3,460,000. The owner willfinance $50,000 of this total and is seeking $2,725,000 of the total inConstruction Loans, with the remainder, $685,000, to be in the form of a TermLoan. These funds will be used for furniture and fixtures, software, the XXXAvenue Center construction, refinancing outstanding debt, and to provide forworking capital. Additional funding of $959,865 for advertising, constructionand build-out of office space, will be required in the second year, but will befunded through business operations. The firm expects to realize a profit of $1,765,099in 2008.
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