PeoplesWay Basketball Academy + Ministry, Olean-NY
Donation protected
Dear Prospective Investor(s),
My name is David Andoh. I am a 25-year-old Canadian citizen from Montreal, Quebec, Canada. I graduated from St. Bonaventure University in 2017 with a BA in Sociology. I then went on to pursue an MBA but withdrew after realizing I was ready to further my entrepreneurial (and ministry) dreams. I then joined the National Basketball League, Canada, and played a quarter of the season with the Halifax Hurricanes before being released.
I am back in Olean, New York with my back against a wall. My student visa expires on the last day of add/drop at St. Bonaventure University. The approximate date is January 27, 2019. At this point, I'll have to leave the country. It is my heart’s desire to call Olean, New York my home. A little over a year ago, I took a leap of faith by moving my little brother, Isaac, to New Life Christian School, here in Olean. My next step is to build a business here in Olean, New York with my brother and former teammate Caleb McGuire.
Caleb is a Belmont, New York native and also a St. Bonaventure University Graduate. Earning his degree in 2017, he studied Journalism and Mass Communications. Like me, Caleb is an entrepreneur. In our time together in school, he founded a podcast that gained recognition from ESPN, among other media outlets. Most importantly, Caleb and I are both Christians.
Our plan is to establish an elite level sports training facility and marketing initiative here in Olean, New York. Long-term, our facility will create jobs, aid in retaining the regions current workforce, and attract new graduates and young families.
We are in need of $77,160 for our first year of operations. The following two years of our start-up phase will conclude at an expense of $46,800, respectively. The total expenditure through the end of FY3 will amount to $170,760.
Our anticipated revenue for each of the three start-up years is estimated at FY1––$107,394; FY2––$140,388; and FY3––$163,176.
Justifiably, this would leave us with a profit of: FY1––$27,114; FY2––$87,348; and FY3––$103,896. This amount totals to conclude at $410,958 for the entirety of our business' 3-year start-up phase.
Phase one of our business venture includes an athletic training program, a marketing initiative for local and extended residents, and a home/office space/studio (3-in-1) for operational needs. For this home, we will need to place a down payment of 20%.
For this reason, we are asking for a total of $150,000 to fund our business venture. Of this $150,000, $77,160 will go to FY1 expenses. No more than $50,000 will be allotted to a mortgage structure. And this will leave an excess of $22,840 in the bank for cashflow and additional programming, as needed. At the end of FY3, we anticipate a profit of $218,358 or 145% of our original ask.
Thank you so much for your time and consideration. We look forward to working with you to re-ignite Olean, New York as an economic hot-spot within its extended region.
Sincerely,
David Andoh & Caleb McGuire
PeoplesWay
My name is David Andoh. I am a 25-year-old Canadian citizen from Montreal, Quebec, Canada. I graduated from St. Bonaventure University in 2017 with a BA in Sociology. I then went on to pursue an MBA but withdrew after realizing I was ready to further my entrepreneurial (and ministry) dreams. I then joined the National Basketball League, Canada, and played a quarter of the season with the Halifax Hurricanes before being released.
I am back in Olean, New York with my back against a wall. My student visa expires on the last day of add/drop at St. Bonaventure University. The approximate date is January 27, 2019. At this point, I'll have to leave the country. It is my heart’s desire to call Olean, New York my home. A little over a year ago, I took a leap of faith by moving my little brother, Isaac, to New Life Christian School, here in Olean. My next step is to build a business here in Olean, New York with my brother and former teammate Caleb McGuire.
Caleb is a Belmont, New York native and also a St. Bonaventure University Graduate. Earning his degree in 2017, he studied Journalism and Mass Communications. Like me, Caleb is an entrepreneur. In our time together in school, he founded a podcast that gained recognition from ESPN, among other media outlets. Most importantly, Caleb and I are both Christians.
Our plan is to establish an elite level sports training facility and marketing initiative here in Olean, New York. Long-term, our facility will create jobs, aid in retaining the regions current workforce, and attract new graduates and young families.
We are in need of $77,160 for our first year of operations. The following two years of our start-up phase will conclude at an expense of $46,800, respectively. The total expenditure through the end of FY3 will amount to $170,760.
Our anticipated revenue for each of the three start-up years is estimated at FY1––$107,394; FY2––$140,388; and FY3––$163,176.
Justifiably, this would leave us with a profit of: FY1––$27,114; FY2––$87,348; and FY3––$103,896. This amount totals to conclude at $410,958 for the entirety of our business' 3-year start-up phase.
Phase one of our business venture includes an athletic training program, a marketing initiative for local and extended residents, and a home/office space/studio (3-in-1) for operational needs. For this home, we will need to place a down payment of 20%.
For this reason, we are asking for a total of $150,000 to fund our business venture. Of this $150,000, $77,160 will go to FY1 expenses. No more than $50,000 will be allotted to a mortgage structure. And this will leave an excess of $22,840 in the bank for cashflow and additional programming, as needed. At the end of FY3, we anticipate a profit of $218,358 or 145% of our original ask.
Thank you so much for your time and consideration. We look forward to working with you to re-ignite Olean, New York as an economic hot-spot within its extended region.
Sincerely,
David Andoh & Caleb McGuire
PeoplesWay
Organizer
DAVID ANDOH
Organizer
Saint Bonaventure, NY
