Company Profile Vault Tec Storage, Inc. - 1446 Words

Company Profile Company Name: Vault-Tec Storage, Inc. Address: 899 Portland St Dartmouth, NS B2W 2N4 Twitter Handle: @VaultTecStorage Upper Management: Rahib Ahmad – CEO Sean Reardon – COO Peter Smith – CFO General Staff: General Manager (from year 3 onwards) Sales Representative Sales Representative (from year 3 onwards) Sales Representative (from year 4 onwards) Overview: Vault-Tec Storage is a self-storage facility that allows customers to store their excess items when they don’t have space for them. With a convenient location just minutes away from Highway 111, Vault-Tec is easy to access regardless of your residence. Sizes are available from 25 square feet up to 200 square feet, and there are even options for climate†¦show more content†¦One of the reasons behind this structure is due to our high cost of capital. With a high cost comes a high level of liability. By incorporating, we remove the liability from ourselves, and rather put it on the entity that is the corporation. Another reason why we decided to incorporate, more specifically as a private corporation, was so we could follow the Accounting Standards for Private Enterprises (ASPE), instead of the public standard, the International Financial Reporting Standards (IFRS). With our initial financial position, it’s best that transparency isn’t required, as that could worry investors. We have a long term plan for our company, so we don’t need investors who only worry about the quarter to quarter earnings. It has been shown by John Asker, a professor at UCLA, that public corporation’s investment decisions are influenced by short-term issues. With the high upfront cost, selling equity to raise capital is certainly an option. With a private corporation, we can sell shares, but still control them, as they are not publicly traded. This allows the 3 founding members to control who has stakes in the company, rather than open it up. Our future plans to expand the business after we have maximized our profit at this location would be to franchise. When we gain brand recognition, we can look into other markets and try to capitalize on our brand. Maritimes expansion would be the first step, with potential locations in