Business Plan

for an Independent
Bookkeeping, Financial,
and
Payroll Service

Table of Contents

2224. Form of Business

2225. Short Term Objectives
2226. Long Term Objectives
2227. Personnel
2228. Insurance
2229. Location
2230. Business Risk
2231. Products and Services
2232. Customers/Clients
2233. Locating Clients
2234. Competition
2235. Marketing Plan
2236. Equipment and Materials Needed
Chosen Name ____________________________________________
(Location) ____________________________________________
____________________________________________

Form of Business Proprietorship

A proprietorship business form has been chosen. This will create personal
identification and responsibility. Each client will be dealt with on an
individual basis and confidence and good reputation will be used for
business growth.

Short Term
Objectives Business Establishment

9680. The aim of the business is to establish a professional

accounting/bookkeeping service that will reflect quality performance and
fill a wide range of business needs.

9681. To create for clients proper accounting, inventory, and financial

controls that will aid them by giving constant business growth on a
profitable basis.

9682. To make available to clients accounting systems that have been

designed for their business, and have these systems available for both
hand-posted and computerized usage.

Long Term
Objectives A Growing Business

15120. The aim is to create and continue the business on a sound and
conservative basis.

15121. To promote (through direct mail and personal contact) services and
products to prospective clients in a way that will cause business growth on
a continuing steady pattern.

15122. To gradually expand the business through the inclusion of

qualified associates who have been adequately trained in business
management.

Personnel Trained and Qualified

672. Present. My own background includes exclusive training in

business management and accounting systems. I have completed a wide
variety of different company’s books which include general sales,
 manufacturing, construction, automotive, and finance. They include the
preparation of financial reports and statements.

673. My educational and professional background includes graduation

from , , and
, all specializing in Accounting and
Business Management.

674. Future. Any additions to personnel will be based on their

individual training in all facets of business accounting with the ability to
converse with clients on a professional and knowledgeable basis.

Insurance Insurance Coverage

All business insurance will include full coverage of all assets of the
business in case of loss by theft, fire, or other related reasons. Personal
life coverage, in the event of death, will be in the sum of $ .

Location The location of the business will be in my home located at

. Overhead costs will be kept at a minimum. A
room within the home will be fully equipped and utilized for the
bookkeeping service business. My present residential location is within an
area where over 1,000 small prospective business clients are located.

Business Risk 1. The normal business risks which result from unprepared
management, inadequate capital, and lack of accounting have been
given careful consideration and are being covered as part of this
business plan.

2. The current business climate shows a definite need and a future

expansion potential for those who are qualified to give professional
accounting services.

Products and
Services Provided General Business Bookkeeping Products

3232. The products I have available to clients include hand-posted

accounting systems for partial or full-charge accounting. They include
bound manuals covering journalized bookkeeping, the general ledger, and
a variety of subsidiary ledgers.

3233. A complete filing system for daily transactions is furnished to

clients for their use in giving stronger financial control.
 3234. A computer accounting program covering the entire integrated
field of business bookkeeping is available for distribution to clients when
such becomes requested or desired.

Services

2112. Complete bookkeeping services are included as needed and

requested by clients, including data entry for all sales, disbursements,
payrolls and standard entries.

2113. Detailed computation and completion of financial statements are

made available as a separate service for those clients who already maintain
in-house journalized bookkeeping.

2114. Special services covering business financing, year-end tax returns,

word processing, and corporate management are optional services
available to clients on a contract basis.

Customers and
Clients Types and Size of Businesses

832. All small businesses are potential clients. Where in-house

bookkeeping is maintained, the professional completion of financial
statements, business financial packages and corporate creations, special
consultations and services will be available when requested.

833. For businesses that have no complete bookkeeping systems, these

will be provided and serviced on a daily, weekly, or monthly basis as
needed.

834. Final year-end closings, tax returns, and management reports will
be made available to all clients and customers.

Locating Clients Advertising for New Clients

10032. The advertising budget will be maintained on a very conservative

basis. Direct mail to new businesses and businesses within the close
vicinity of the office will be the primary source of clients. Each of these
businesses will be given personal contact with a visual display of all
products and services offered.

10033. All direct mail advertising will come from proven solicitation
methods covering the exclusive systems designed and available for the
client’s specific business.
 10034. Referrals will be gained from satisfied clients and used in the
promotion of new customers.

10035. Direct telephone solicitation will be used when personnel (able to

give proper presentations) can be located and utilized. All clients will be
kept in contact on a monthly personalized basis.

Competition Other Competitive Bookkeeping Services

9792. Other bookkeeping services within the city should create a

constant source of new clients. This would be caused due to the many
additional services I will offer. With the utilization of updated systems
and programs, plus a weekly contact, financial statements can be
completed immediately at the end of each month, which is what clients
desire. Lack of prompt service will create immediate interest from those
who want quicker action.

9793. Some competition (having been in business for many years)

becomes lax and not willing to give complete service to clients.

9794. Having many additional business services available through the

furnishing of financing loan packages, corporate articles, and year-end
closings will add to client interest.

9795. My pricing and billing structure gives great flexibility and provide
prospective clients quick service quotations.

Equipment and
Materials Needed
for Professional
Service Electronic Equipment and Materials

In order to prepare modern financial documentation in a computerized

fashion, the following equipment is considered necessary:

21952. An IBM compatible 386 computer with a color monitor.

21953. A wide and narrow (track fed) printer for use in preparing journals
and columnar presentations.
21954. A laser printer for high quality financial statements.
21955. A full capacity printing calculator.
21956. An electric typewriter for quick service.

Computer Programs and Materials

20672. WordPerfect 5.1 Computer Software

20673. LOTUS 1-2-3, ver. 2.3 Computer Program
20674. A Payroll Plus Program
20675. Computer Paper and Office Supplies
20676. Hand-posted Bookkeeping Systems for clients and full-charge
service