Business Plan – Reid and Trudeau Paralegal Services, LLP

Sarah Reid and Brandon Trudeau

PLP 454 SPD

Seneca College

June 3, 2022
 REID AND TRUDEAU PARALEGAL SERVICES LLP
55 COMMERCE VALLEY DR W, SUITE 550-09
MARKHAM, ON L3T 7V9
TEL. 416-341-7677

May 30, 2022

BY REGULAR MAIL

Rosemarie Li Calzi
Branch Manager
RBC Royal Bank
936 Kingston Road
Toronto, Ontario M4E 1S7

Dear Ms. Calzi:

RE: Loan Request

We write to request a secured loan in the amount of $1,786,200.00 for the purpose of
establishing a law firm, REID AND TRUDEAU PARALEGAL SERVICES LLP, in the
community of Markham.

Please find our business plan and budget for the next 12 months for review. We feel
that REID AND TRUDEAU PARALEGAL SERVICES LLP will be a safe credit risk.

The only employees we have are the name partners (Sarah Reid and Brandon
Trudeau). We request this loan for expenses and the ability to hire a receptionist for the
firm. At 8% interest, we calculate a monthly 15-year payment plan of $16,015.43.

Please review this letter and attached financial documents. REID AND TRUDEAU
PARALEGAL SERVICES LLP would appreciate an opportunity to talk to you.

Please contact me if you have any concerns or questions.

Yours truly,

REID AND TRUDEAU PARALEGAL SERVICES LLP

Sarah Reid and Brandon Trudeau

Licensed Paralegals

Encl – Reid and Trudeau LLP Business Plan, Reid and Trudeau 12-Month Budget
 Business Plan – Reid and Trudeau Paralegal Services, LLP

Firm Information
Business Name
Reid and Trudeau Paralegal Services, Phone
LLP 416-341-7677

Address Email
Reid and Trudeau Paralegal Services, info@reidandtrudeaullp.ca
LLP
55 Commerce Valley Dr W Website
Suite 550-09 www.ReidandTrudeauLLP.ca
Markham, Ontario, L3T 7V9

• Limited Liability Partnership

Mission Statement
We work to improve access to justice and remove information barriers for individuals in

the Greater Toronto Area. We aim to create a supportive, safe and comfortable

environment for clients in need of legal advice, advocacy and administrative tasks and

work extensively in both Ontario tribunals and Small Claims Court to settle disputes

efficiently and cost effectively.

Principals

Sarah Reid
Sarah Reid is a Licensed Paralegal in good standing with the Law Society of Ontario

since 2023. She graduated from the Accelerated Paralegal Diploma Program at the

School of Legal, Public & Office Administration in Seneca College in 2022, and has an

extensive background in intersectional sociology and non-profit business development.

She is passionate about advocacy in the areas of human rights and Indigenous law and

is proficient in drafting and legal research. She was certified in Alternative Dispute

Resolution in 2022.

Brandon Trudeau
Brandon Trudeau is a Licensed Paralegal in good standing with the Law Society of

Ontario since 2023. He graduated from the Accelerated Paralegal Diploma Program at

the School of Legal, Public & Office Administration in Seneca College in 2022. He is

proficient in drafting and legal research and is an advocate for both Small Claims and

criminal law matters. He was certified in Alternative Dispute Resolution in 2022.

Opportunity
Our firm provides Small Claims Court and tribunal representation for clients. We work in

accordance with Rule 3.01 of the Paralegal Rules of Conduct, being competent to

provide legal services in the areas of tribunal and Small Claims advocacy, drafting and

legal research. Both principals completed a recognized paralegal program and are in

good standing as licensed paralegals in Ontario.

Our firm provides services focusing on the client’s level of comfort first, including

facilitating interpreter services and in-home meetings on request. In addition, we are in

the process of securing an Administrative Assistant who is fluent in Cantonese for

clients who are more comfortable with a language other than English.

All services and meetings can be performed remotely (utilizing secure video

calling and phone lines) in the client’s home or in our Markham office. We are able to

offer Alternative Dispute Resolution measures in-house or refer out to one of our ADR

Institute of Ontario, Inc. recognized partners. For matters beyond our scope of practice,

we connect clients with other, fully vetted and licensed legal representatives.

Full professional liability insurance has been secured and we aim to procure an

accountant and law clerk by the end of 2023.

2
Service and Markets
Target Clients
Our target clients are “every day Ontarians” with questions or concerns related to Small

Claims Court or tribunal matters. They will generally be located in the GTA for access to

our in-person services, however services such as letters or form completion and filing

can be provided remotely to clients throughout Ontario. Our ideal client has a moderate

income level, though payment plans for unique circumstances can be negotiated given

that a retainer is provided

For the 2022-2023 period, we are focusing on clients with simple and

administrative matters in order to build a strong base clientele and reputation in the

market. We are looking to take on approximately 50-75 clients in this first year.

According to the Government of Canada Job Bank, there will be a steady demand for

paralegals for the foreseeable future, and being located outside of the Toronto

downtown core allows us to access clients who may otherwise have to commute long

distances to Toronto paralegals or hire lawyers at greater cost.

Competition
Potential competition in the area of our practice include SucceClaim Legal Services

(North York), Solomon Jones LLP (Markham), Sivapatham Legal Services Professional

Corporation (Scarborough), Graham Scott Legal Services, WL Paralegal Services

(Markham). These firms all provide services for Small Claims court matters and

tribunals, and Solomon Jones LLP offers Cantonese services. The majority of these

firms consist of a blend of paralegal and lawyer members.

3
Projected Marketing Summary
All marketing is in accordance with Rule 8.03 of the Paralegal Rules of Conduct. We

plan to enroll in the Law Society of Ontario Lawyer and Paralegal Directory and the Law

Society Referral Service as a main source of clientele, however we are also securing a

web domain through GoDaddy ($5.99/mo) and social media accounts on Instagram,

Facebook and LinkedIn where multiple posts per week will drive engagement from the

public. Principals will continue regular volunteer positions at Legal Aid clinics and will

attend networking events and conferences (~ $25 /event) hosted by affiliate groups 2-4

times per year. We have strong business relationships with other paralegals throughout

the Toronto area and are beginning to network with teams of lawyers, employers and

other professionals with the goal to develop a referral relationship.

Funding Requirement
Brandon Trudeau and Sarah Reid are each supplying $55 000 of capital for this venture

in addition to receiving a Racialized and Indigenous Supports for Entrepreneurs

(RAISE) Grant 1 of $10 000 following Ms. Reid’s completion of their training and

Business Coaching program. We are seeking additional funding in the form of a loan

from the Royal Bank of Canada in the amount of $1 760 507. This loan is unsecured

and is borrowed at an interest rate of 18% with a 15-year repayment term.

1
https://digitalmainstreet.ca/wp-content/uploads/2022/03/RAISE-Program-Outline-FAQs-v2.pdf

4
REID AND TRUDEAU PARALEGAL SERVICES, LLP 12-MONTH BUDGET
PLANNED EXPENSES

January February March April May June July August September October November December Total

EMPLOYEE COSTS $ 133,408.32 $ 133,408.32 $ 133,408.32 $ 133,408.32 $ 102,550.19 $ 102,550.19 $ 102,550.19 $ 133,408.32 $ 133,408.32 $ 133,408.32 $ 133,408.32 $ 133,408.32 $ 1,508,325.45

Benefits $ 240.00 $ 240.00 $ 240.00 $ 240.00 $ 160.00 $ 160.00 $ 160.00 $ 240.00 $ 240.00 $ 240.00 $ 240.00 $ 240.00 $ 2,640.00

Tax from Government (Pension, Employment etc.) $ 2,561.86 $ 2,561.86 $ 2,561.86 $ 2,561.86 $ 1,975.24 $ 1,975.24 $ 1,975.24 $ 2,561.86 $ 2,561.86 $ 2,561.86 $ 2,561.86 $ 2,561.86 $ 28,982.46

Life and Disability Insurance $ 197.87 $ 197.87 $ 197.87 $ 197.87 $ 139.11 $ 139.11 $ 139.11 $ 197.87 $ 197.87 $ 197.87 $ 197.87 $ 197.87 $ 2,198.16

Payroll (Sarah/Brandon - 50k, receptionist hired in August -30k) $ 130,000.00 $ 130,000.00 $ 130,000.00 $130,000.00 $ 100,000.00 $ 100,000.00 $ 100,000.00 $130,000.00 $130,000.00 $130,000.00 $130,000.00 $130,000.00 $ 1,470,000.00
Professional Liability Insurance $ 375.00 $ 375.00 $ 375.00 $ 375.00 $ 250.00 $ 250.00 $ 250.00 $ 375.00 $ 375.00 $ 375.00 $ 375.00 $ 375.00 $ 4,125.00

WCB Tax $ 33.59 $ 33.59 $ 33.59 $ 33.59 $ 25.84 $ 25.84 $ 25.84 $ 33.59 $ 33.59 $ 33.59 $ 33.59 $ 33.59 $ 379.83

OFFICE COSTS $ 20,410.24 $ 24,910.24 $ 24,910.24 $ 20,310.24 $ 34,839.65 $ 21,560.24 $ 20,660.24 $ 20,410.24 $ 20,410.24 $ 20,310.24 $ 25,010.24 $ 22,889.82 $ 275,431.87

OFFICE COSTS JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER TOTAL

Bookkeeping /Accountancy Fee (3 times per year) $ - $ 4,500.00 $ 4,500.00 $ - $ - $ - $ - $ - $ - $ 4,500.00 $ - $ 13,500.00

General Account for Firm (minimal fee) $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 1,200.00

Trust Account for Clients (minimal fee) $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 5.00 $ 60.00

Computer Hardware and Equipment $ - $ - $ - $ - $ 8,299.83 $ - $ - $ - $ - $ - $ - $ - $ 8,299.83

Computer Software and Licences $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 600.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 3,900.00

Copier Rental with Supplies (Toner, including Paper) $ 200.00 $ 300.00 $ 200.00 $ 200.00 $ 300.00 $ 200.00 $ 200.00 $ 300.00 $ 200.00 $ 200.00 $ 300.00 $ 200.00 $ 2,800.00

Courier Charges $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 1,800.00

Credit Card Usage $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 1,200.00

File Disbursement (as necessary) $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 1,200.00

File Storage (on the cloud) $ 6.63 $ 6.63 $ 6.63 $ 6.63 $ 6.63 $ 6.63 $ 6.63 $ 6.63 $ 6.63 $ 6.63 $ 6.63 $ 6.63 $ 79.56

Furniture (1-time charge) $ - $ - $ - $ - $ 4,000.00 $ - $ - $ - $ - $ - $ - $ - $ 4,000.00

Interest Charges $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 1,200.00

Internet Access (with Utilities) $ 425.46 $ 425.46 $ 425.46 $ 425.46 $ 425.46 $ 425.46 $ 425.46 $ 425.46 $ 425.46 $ 425.46 $ 425.46 $ 425.46 $ 5,105.52

Law Society Annual Fee (2-installments) $ - $ - $ - $ - $ 539.58 $ - $ - $ - $ - $ - $ - $ 539.58 $ 1,079.16

Legal Manuscripts and Publications (most available online; update December) $ - $ - $ - $ - $ - $ 1,000.00 $ - $ - $ - $ - $ - $ 1,000.00 $ 2,000.00

Loan Payment (15-year, 8% interest rate) $ 16,015.43 $ 16,015.43 $ 16,015.43 $ 16,015.43 $ 16,015.43 $ 16,015.43 $ 16,015.43 $ 16,015.43 $ 16,015.43 $ 16,015.43 $ 16,015.43 $ 16,015.43 $ 192,185.16

Miscellanous $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 1,200.00

Rent $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 12,000.00

Office Cleaning ("Deep Clean" [ summer and winter] at 2 times per year) $ - $ - $ - $ - $ 1,040.00 $ - $ - $ - $ - $ - $ - $ 1,040.00 $ 2,080.00

Office Supplies (Paper, Pens, Highlighter, etc.) $ 1,000.00 $ 900.00 $ 1,000.00 $ 900.00 $ 900.00 $ 900.00 $ 1,000.00 $ 900.00 $ 1,000.00 $ 900.00 $ 1,000.00 $ 900.00 $ 11,300.00

Online Research (includes through other Contractors) $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 3,600.00

Point-of-Sale Technology in Office $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 150.00 $ 1,800.00

Property and Casualty Insurance $ 117.72 $ 117.72 $ 117.72 $ 117.72 $ 117.72 $ 117.72 $ 117.72 $ 117.72 $ 117.72 $ 117.72 $ 117.72 $ 117.72 $ 1,412.64

Temporary Employee $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

Shredding and Disposal Service (Blue-Pencil) $ 140.00 $ 140.00 $ 140.00 $ 140.00 $ 140.00 $ 140.00 $ 140.00 $ 140.00 $ 140.00 $ 140.00 $ 140.00 $ 140.00 $ 1,680.00

Telephone Answering Service $ - $ - $ - $ - $ 250.00 $ 250.00 $ 250.00 $ - $ - $ - $ - $ - $ 750.00

MARKETING COSTS $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 1,200.00

MARKETING COSTS JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER TOTAL

Collateral printing $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 100.00 $ 1,200.00

TRAINING / TRAVEL $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

TRAINING/TRAVEL JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER TOTAL

Training classes (Everyone responsible for hours) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - - - $ -

Travel costs (if money avails, will travel for training at later opportunity) $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -

MONTHLY TOTAL $ 153,918.56 $ 158,418.56 $ 158,418.56 $ 153,818.56 $ 137,489.84 $ 124,210.43 $ 123,310.43 $ 153,918.56 $ 153,918.56 $ 153,818.56 $ 158,518.56 $ 156,398.14 $ 1,786,157.32