How full are your 2016 summer camps? What is each camp's breakeven point (how many campers in order to breakeven?) How many staff per camp and camper/staff ratio in your calculations of breakeven?

Hi Nico. Great questions! This summer, we are 72% full across the board with 4 sessions at capacity out of 11. We need about 25-30 girls per session depending on the specifics of the site. We employ 4-5 staff members minimum and our ultimate size is about 45 girls with 6 staff members.

What's included in COGS vs SG&A vs Partner Distributions? Why are partner distributions so much larger than net income? Is there a predetermined amount or percentage for your past distributions, and will those distributions continue and for how long? How is Glitter and Raz...

COGS is majority payroll for our summer employees and rent for our summer programs. It also includes the supplies and materials for the programs. SG&A is our full-time, year-round staff (not including owners), rent for the storage of our supplies, marketing, professional fees, etc. Partner Distributions are the salaries that Allison and I have taken. We have to live off of our business, it's always been that way so we have, until now, prioritized making sure that we were paid. Before this...

Any plans to expand into STEM activities? Or are you solely focused on expanding and developing creative and social skills?

Hi Eric, thanks so much for your question. Our focus is very much on creative and social/emotional skills. We feel that is where we have the most to influence girls sense of individuality and skills around boundaries and safety. We believe that when girls get the chance to make something brand new in collaboration with other girls, magical things happen. That being said, we are always innovating our programming and have already expanded from traditional arts (theater, music, visual art) into ...

This is clearly a popular brand with a following. However, as an investor I have to ask, why have partner distribution incomes been so high (above Bay Area median incomes), when the company is running a negative net income? Santa Clara County median income is about $75k. At th...

Hi Sean, thank you so much for your question. In 2015, we drew approximately $106K in partner distributions. This salary was split 50/50 between me and my co-founder, Allison Kenny as both of us were working full-time in the business. This gave us each a salary of approximately $50K. The change this year is that Allison, although still a majority shareholder, will no longer be drawing a salary from the business. The $60K is just for my salary. Much of the needed capital is for the creation of...

A few more questions: 1) Your financial statements indicate partner salary distributions of approximately $189k and $145k, for 2015 and 2014 respectively. Why is 2015's salary distributions different than the number stated above (indicating $106k in distribution)? 2) Why did y...

Hi Sean, sorry for the delay...happy to answer your questions the best I can. 1) When I read my balance sheet for 2015 and 2014, I see that it starts with an opening balance and that the distributions are added on from there. I know for sure that my partner and I only drew the amount after that opening balance. We definitely did not take home $189k last year. 2) Glitter & Razz had name recognition with different kinds of programs and wanted a name that was more fitting to our focus on emp...

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