I. Executive Summary
This Section's Contents
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[Company Name] is a new bitcoin mining business located in [Location]. It is run by [Founder’s Name] who has been mining bitcoin for [X] years. He established this company after deciding to pool his resources with other miners to increase the chances of successfully mining bitcoin. [Company Name] currently has ten mining rigs and three miners in the pool. In the future, the company will be open to bringing in more miners for a membership fee.
[Company Name]’s only goal is to mine bitcoin. All miners in the pool will work towards this goal and all profits earned will be divided equally amongst pool members. Future miners who wish to join the pool will have to pay a membership fee.
As a bitcoin mining company, [Company Name] does not have a traditional customer base. The company only focuses on making sure the pool is mining enough bitcoin so everyone can make a profit. The pool currently has three miners but is open to expanding and bringing more on board.
[Company Name] is led by [Founder’s Name] who has been bitcoin mining since 2015. He has made $100,000 in profit through mining bitcoin and is eager to expand his business. He recently connected with two other local bitcoin miners and they all decided to pool their resources together. [Founder’s Name] also holds an MBA from [University] which has given him the education and expertise to run a business.
[Company Name] is qualified to succeed due to the following reasons:
- Bitcoin mining is a very popular industry and there is incredible demand for more bitcoin mining pools.
- The management team has a track record of success with bitcoin mining.
- Bitcoin mining businesses have a proven track record of success throughout the world.
[Company Name] is currently seeking $400,000 to launch. Specifically, these funds will be used as follows:
- Location design/build: $50,000
- Equipment purchase and upkeep: $250,000
- Working capital: $100,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even
Top line projections over the next five years are as follows:
|Financial Summary||FY 1||FY 2||FY 3||FY 4||FY 5|
|Pre Tax Income||$219,152||$378,458||$505,670||$672,098||$912,948|
|Income Tax Expense||$76,703||$132,460||$176,985||$235,234||$319,532|
|Net Profit Margin||25%||31%||31%||32%||35%|