The only direct material required by the company is the business training information itself. To date, the company has developed approximately pages of business training information. By February, X we estimate the database will be complete and ready for distribution on the Internet. In essence, the only input is direct labor which is required in order to further develop the database of business training information.
Strategic Analysis with current research! The Bookkeeping Practice, Inc.
The Company was founded by John Doe. These services will primarily consist of accounts receivable, accounts payable, general ledger management, and cash flow management in conjunction with accounting software suites such as QuickBooks, Microsoft Money, and Peachtree Accounting.
The secondary streams of revenue will come from small business tax preparation services. During the primary tax season February to Aprilthe business will assist small business owners with preparing their yearly tax returns. The third section of the business plan will further describe the services offered by the Bookkeeping Practice.
The interest rate and loan agreement are to be further discussed during negotiation. Doe has more than 10 years of experience in the accounting industry. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations. Doe expects a strong rate of growth at the start of operations.
Below are the expected financials over the next three years. Doe intends to implement marketing campaigns that will effectively target individuals and corporations within the target market. The Company is registered as a corporation in the State of New York.
Below is a breakdown of how these funds will be used: Doe is not seeking an investment from a third party at this time. Doe may seek to sell the business to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of the Bookkeeping Practice.
Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings. The Bookkeeping Practice will bill its clients on a per hour basis. Pricing for these services will be further discussed in the fifth section of the business plan.
Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid, at which point the economy will begin a prolonged recovery period.
However, Bookkeepers operate with great economic stability as small and medium sized business owners will continue to require bookkeeping services despite deleterious economic conditions.
There are overaccountants in the United States. One of the most common trends within the accounting industry is to develop ancillary investment management and small lending services such as mortgage origination and loan rebate checks. In the future, the Bookkeeping Practice may develop these services to greatly increase the revenues of the business.
Common traits among clients will include: The key to writing a strong competitive analysis is that you do your research on the local competition.
Find out who your competitors are by searching online directories and searching in your local Yellow Pages. Below is an overview of the marketing strategies and objectives of the Bookkeeping Practice. Doe intends on using a number of marketing strategies that will allow the Bookkeeping Practice to easily target small and medium sized businesses within the target market.How to Write the Financial Section of a Business Plan: The Purpose of the Financial Section Let's start by explaining what the financial section of a business plan is not.
Free Accounting Firm Business Plan For Raising Capital from Investors, Banks, or Doe will hire an associate CPA and a bookkeeper to assist with running the day to day operations of the business.
During tax season, the Company will hire 3 tax preparers. The third section of the free business plan will further describe the services. BUSINESS PLAN SECTION 1 Business overview In this section, you LEGAL NAME give a brief Our office will provide bookkeeping services essential for business growth.
accountants will provide and what bookkeepers will provide.
describe the physical aspect of your business operations: your location, current and future capacity, lease details. Our plan is to position the business to become the leading brand in bookkeeping and payroll services line of business in the whole of Nevada, and also to be amongst the top 20 bookkeeping and payroll services businesses in the United States of America within the first 10 years of operations.
The Sorcerer's Accountant accounting and bookkeeping business plan executive summary. The Sorcerer's Accountant is an existing one-person accounting and tax preparation service, planning to expand by adding bookkeeping services/5(58).
The firm offers tax accounting, management accounting, and QuickBooks set-up and training for small business clients. To move beyond a one person model, the business will expand its services to include bookkeeping services for small businesses.