Try QuickBooks Free How to Start a Bookkeeping Business Running your own bookkeeping firm offers more flexibility and control than you can get working for an employer. You also have to set up an office, find clients, manage your time, and deal with countless other small tasks. Get Certified Even if you have a host of experience, you may want to consider certification. Certifications show your clients that you have extensive training, and it helps to reassure them that they can trust you with their books.
Schools High Schools, Colleges and Universities Sport Organizations Entrepreneurs and Start — Ups Our Competitive Advantage The level of competitions in the financial consulting services industry depends largely on the location of the business and of course the niche of your financial consulting services.
If you can successfully create a unique brand identity for your bookkeeping and payroll services firm or carve out a unique market, you are likely going to experience less competition. For instance if you are one of the few bookkeeping and payroll firms in your locations that also offer tax consulting and financial auditing services you are likely going to have a competitive advantage over your competitors.
Although the competition in the bookkeeping and payroll services line of business is not just within same service providers but also other financial consulting related service providers in the financial consulting services industry.
For example, it is now easier for you an auditing firm to also handle bookkeeping and payroll services for its clients. We are quite aware that to be highly competitive in the financial consulting services industry means that we should be able to deliver consistent quality service, our clients should be able to experience remarkable difference cum improvement and we should be able to meet the expectations of clients.
Chris Morgan Financial Consulting, LLC might be a new entrant into the financial consulting services industry in the United States of America, but the management staffs and owners of the business are considered gurus.
They are people who are core professionals and licensed and highly qualified bookkeeping and payroll experts in the United States. These are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be amongst the best within our category start — ups bookkeeping and payroll service providers in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and business plan for bookkeeping business.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.
We will also ensure that our excellent job deliveries speaks for us in the market place; we want to build a standard bookkeeping and payroll service business that will leverage on word of mouth advertisement from satisfied clients both individuals and corporate organizations.
Our goal is to grow our bookkeeping and payroll consulting firm to become one of the top 20 bookkeeping and payroll firms in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Las Vegas but also in other cities in the United States of America.
Chris Morgan Financial Consulting, LLC is set to make use business plan for bookkeeping business the following marketing and sales strategies to attract clients; Introduce our business by sending introductory letters alongside our brochure to corporate organizations, schools, households and key stake holders in Las Vegas and other cities in Nevada.
Promptness in bidding for financial consulting contracts from the government, religious organizations and other cooperate organizations Advertise our business in relevant financial and business related magazines, newspapers, TV stations, and radio station.
List our business on yellow pages ads local directories Attend relevant international and local finance and business expos, seminars, and business fairs et al Create different packages for different category of clients start — ups and established corporate organizations in order to work with their budgets and still deliver quality services to them Leverage on the internet to promote our business Engage direct marketing approach Encourage word of mouth marketing from loyal and satisfied clients Sources of Income Chris Morgan Financial Consulting, LLC is established with the aim of maximizing profits in the travels and tours industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer — ship with most of our clients.
Chris Morgan Financial Consulting, LLC will generate income by offering the following financial consulting services for start — ups, NGOs and for corporate organizations; Provide Full-service payroll services Provide Payroll services sold separately Provide Billing services Provide Bookkeeping and compilation services Provide General accounting services Provide Tax planning and consulting services Provide Tax preparation and representation services Other financial consulting and advisory related services Sales Forecast One thing is certain, there would always be mom and pop shops, start — ups, NGOs and corporate organizations who would need the services of professional bookkeeping and payroll services providers.
We have been able to critically examine the financial consulting market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Las Vegas — Nevada.
Below is the sales projection for Chris Morgan Financial Consulting, LLC, it is based on the location of our business and the wide range of financial consulting services that we will be offering; First Year-: Please note that the above projection might be lower and at the same time it might be higher.
Our Pricing Strategy Hourly billing for financial consulting services is a long — time tradition in the industry. However, for some types of financial consultancy services, flat fees make more sense because they allow clients to better predict consultancy costs.
As a result of this, Chris Morgan Financial Consulting, LLC will charge our clients a flat fee for many basic services such as bookkeeping and payroll services and business advisory services and tax consulting et al.
At Chris Morgan Financial Consulting, LLC we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance.
In addition, we will also offer special discounted rates to start — ups, nonprofits, cooperatives, and small social enterprises. Payment Options At Chris Morgan Financial Consulting, LLC our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them.
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. Business Planning and Bookkeeping. If you want to get on the road to achieving your dreams of small business ownership, you’ll need . The Sorcerer's Accountant accounting and bookkeeping business plan services. The Sorcerer's Accountant is an existing one-person accounting and tax preparation service, planning to expand by adding bookkeeping services.
Here are the payment options that we will make available to our clients; Payment by via bank transfer Payment via online bank transfer Payment via check Payment via bank draft Payment with cash In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.
Bookkeeping Service Business Plan — Publicity and Advertising Strategy We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.
We are set to take the financial consulting services industry by storm which is why we have made provisions for effective publicity and advertisement of our travels and tours agencies. Bookkeeping Service Business Plan — Financial Projections and Costing Starting a bookkeeping and payroll services firm can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment.
Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount to purchase the required software applications, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.
They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start — up capital for the business to just three major sources. These are the areas we intend generating our start — up capital; Generate part of the start — up capital from personal savings Source for soft loans from family members and friends Apply for loan from my Bank N.
All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
Sustainability and Expansion Strategy The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. One of our major goals of starting Chris Morgan Financial Consulting, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our financial consulting services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Chris Morgan Financial Consulting, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization.
We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams. Completed Opening Online Payment Platforms: In Progress Application for business license and permit: Completed Purchase of All form of Insurance for the Business: Completed Conducting Feasibility Studies:Starting Your Own Bookkeeping Business —should it be a home office?
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Free Bookkeeping Practice Business Plan For Raising Capital from Investors, Banks, or Grant Companies! Please note that the financials in this complete free business plan are completely fictitious and may not match the text of the business plan below.
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