Are you about starting an immigration consulting firm? If YES, here is a complete sample immigration consulting business plan template & feasibility report you can use for FREE.
If you are a lawyer or someone who has a background in immigration matters, and you yet are thinking about starting your business, then you should consider starting your own immigration consulting firm. There are many migrants who are trapped simply because they don’t know who to talk to when they have challenges with immigration issues that is why it is important to set up your own immigration attorney agency.
Being an immigration consultant or attorney means that you will help your clients handle all their immigration concerns, help to become a citizen of a new country of their choice, you will help defend your clients who have deportation case with the government from being deported.
You can also help your clients obtain work permits in their new country of residence; you can help your client start a business in another country and any other immigration related issues. Starting an immigration consulting firm is not too expensive except for the money required to rent and furnish an office space.
Running this type of business requires that you should be trained as a lawyer and it is indeed a very lucrative business in the United States, Canada, Australia and The United Kingdom simply because of the inflow of migrants from different parts of the world.
If you are truly convinced that starting an immigration consulting firm is the right business for you to do, then you need to write your own business plan. Below is a sample immigration consulting firm business plan template that will help you successfully write yours with little or no stress;
A Sample Immigration Consulting Firm Business Plan Template
1. Industry Overview
Players in the immigration consulting firms industry offer services relating to the legal status of individuals, including permanent residency and visa services. These services include submitting visa applications, providing visa advice, and preparing for and representing before a court of review authority in relation to visa applications and related matters.
Basically, immigration lawyers and attorneys who are major players in this industry assist individuals in obtaining visas and gaining US citizenship, defend the rights of immigrants, navigate the issues of illegal immigration and assist businesses in understanding immigration issues in a global marketplace.
In spite of high levels of immigration, the growth experienced in the industry was stifled due to falling per capita disposable income and corporate profit, causing individuals and corporations to find alternatives to industry services. Nevertheless, revenue is expected to rise as post – recessionary conditions benefit corporate profit and stricter federal and state immigration laws are implemented.
The Immigration Consulting Firms cum Immigration Lawyers & Attorneys Industry is indeed a large industry and pretty much active in countries such as United States of America, United Kingdom, France, Italy, Holland, Switzerland, Australia and Canada et al.
Statistics has it that in the united states of America alone, there are about 6,171 registered and licensed immigration consulting firm scattered all across the United States responsible for employing about 39,677 and the industry rakes in a whooping sum of $6 billion annually.
The industry is projected to grow at 0.1 percent annual growth within 2011 and 2016. It is important to state that there is no establishment in this industry that has a lion market share. The geographic distribution of immigration consulting firms and revenue in the industry is based on population levels and business locations.
Immigration consulting firms tend to be located in areas with high populations; as such areas tend to have higher migrant levels, which can lead to visa applications for family members and for students. As businesses use immigration consulting firms for employer sponsored visa applications, many industry firms generally tend to locate near business regions.
Lastly, one thing is certain about starting an immigration consulting firm, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to secure clients because there are always individuals, and corporate organization who would want to hire your services from time to time.
2. Executive Summary
Johnson & Calvin® Consulting, LLP is a registered and licensed immigration consulting firm that will be based in New York City – New York.
The firm will handle all aspect of immigration related services; services such as assisting individuals in obtaining visas and gaining US citizenship, defend the rights of immigrants, navigate the issues of illegal immigration and assist businesses in understanding immigration issues in a global marketplace.
We are aware that to run a standard immigration consulting firm can be demanding which is why we are well trained, certified and equipped to perform excellently well. Johnson & Calvin® Consulting, LLP is a client – focused and result driven immigration consulting firm that provides broad- based services at an affordable fee that won’t in any way put a hole in the pocket of our clients.
We will offer a standard and professional immigration consulting services to all to our individual clients, and corporate clients at national, and international level. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they hire our services.
At Johnson & Calvin® Consulting, LLP, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in the immigration consulting industry
Johnson & Calvin® Consulting, LLP will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Our plan is to position the business to become the leading brand in the immigration consulting industry in the whole of New York City – New York, and also to be amongst the top 20 immigration consulting firms in the United States of America within the first 10 years of operations.
This might look too tall a dream but we are optimistic that this will surely be realized because we have done our research and feasibility studies and we are enthusiastic and confident that New York City – New York is the right place to launch our immigration consulting firm before sourcing for clients from other cities in The United States of America.
Johnson & Calvin® Consulting, LLP is founded by Johnson Brownstone and Calvin Jefferson, his business partner for many years. The organization will be managed by both of them since they have adequate working experience to manage such business.
Johnson Brownstone has well over 5 years of experience working at various capacities within the immigration consulting industry in the United States of America. Johnson Brownstone and Calvin Jefferson are Immigration Attorneys. They both have the required experience and qualifications to build a world class immigration consulting firm.
3. Our Products and Services
Johnson & Calvin® Consulting, LLP is going to offer varieties of services within the scope of the immigration consulting industry in the United States of America. Our intention of starting our immigration consulting firm is to favorably compete with leading players in the immigration consulting industry both in the United States of America and in the world at large.
We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition. Our business offerings are listed below;
- Provide legal advice about the ability to reside in the United States and country of their choice
- Collect and submit appropriate documentation to prove a case
- Helps obtain the type of documentation needed to legally reside within the country
- Obtain immediate access to citizenship in emergency situations
- Represent our clients in court
- Assist with citizenship tests
- Defend a person’s case to prevent him or her from being deported
- Handle family-sponsored immigrants, employment-based immigrant visas, Diversity programs, Refugees and Asylees and other categories
4. Our Mission and Vision Statement
- Our vision is to build an immigration consulting brand that will become the number one choice for both individual and corporate clients in the whole of New York City – New York. Our vision reflects our values: integrity, service, excellence and teamwork.
- Our mission is to position our immigration consulting firm to become the leading brands in the immigration consulting industry in the whole of New York City – New York, and also to be amongst the top 20 immigration consulting firms in the United States of America within the first 10 years of operations.
Our Business Structure
Normally we would have settled for two or three full – time staff members, but as part of our plan to build a standard immigration consulting firm in New York City – New York, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent, honest and hardworking employees to occupy all the available positions in our organization.
The picture of the kind of immigration consulting firm we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around New York City – New York. We will ensure that we only hire people that are qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our set target. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- Immigration Lawyers / Attorneys and Consultants
- Admin and HR Manager
- Marketing and Sales Executive
- Accountant
- Customer Care Executive / Front Desk Officer
5. Job Roles and Responsibilities
Chief Executive Office:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Immigration Attorneys / Lawyers and Consultants
- Provides legal advice about the ability to reside in the United States and country of their choice
- Collects and submits appropriate documentation to prove a case
- Helps obtain the type of documentation needed to legally reside within the country
- Obtains immediate access to citizenship in emergency situations
- Represents our clients in court
- Assists our clients with citizenship tests
- Defends a person’s case to prevent him or her from being deported
- Handles family-sponsored immigrants, employment-based immigrant visas, Diversity programs, Refugees and Asylees and other categories
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Designs job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Oversees the smooth running of the daily office activities.
Marketing and Sales Executive
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of relevant projects.
- Writes winning proposal documents, negotiate fees and rates in line with company policy
- Responsible for handling business research, marker surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents the organization in strategic meetings
- Helps to increase sales and growth for the organization
Accountant
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- create reports from the information concerning the financial transactions recorded by the bookkeeper
- Prepares the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper.
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the organization
Client Service Executive / Front Desk Officer
- Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the organization’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
- Receives parcels / documents for the organization
- Distributes mails in the organization
- Handles any other duties as assigned the line manager
6. SWOT Analysis
Johnson & Calvin® Consulting, LLP engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a well – structured immigration consulting firm that can favorably compete in the highly competitive immigration consulting industry.
Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Johnson & Calvin® Consulting, LLP. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Johnson & Calvin® Consulting, LLP;
- Strength:
Our core strength lies in the power of our team; our workforce. We have a team of highly qualified immigration attorneys and support staff members that can go all the way to give our clients value for their money; a team that are trained, qualified and equipped to pay attention to details and to deliver excellent immigration consulting services. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.
- Weakness:
As a new immigration consulting firm, it might take some time for our organization to break into the market and gain acceptance especially from big corporate clients in the already saturated immigration consulting industry; that is perhaps our major weakness. So also, we may not have the required cash to give our business the kind of publicity we would have loved to.
- Opportunities:
The opportunities in the architectural services industry is massive considering the number of construction and real estate companies who can’t do with key services provided by only the architectural industry. As a standard and well – positioned architectural service firm, we are ready to take advantage of any opportunity that comes our way.
- Threat:
Some of the threats that we are likely going to face as an immigration consulting firm operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing / spending power.
There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
7. MARKET ANALYSIS
- Market Trends
The immigration consulting industry is indeed a very large industry and of course it is one industry that works for individuals and corporate organizations.
The big catch in this industry is the fact that loads of people from other countries especially from developing countries will give up anything to migrate and become legal citizens of the United States or to visit, study and do business in the United States. This is the chief reason why the immigration consulting industry is a thriving business venture in the United States
It is a bit challenging for new entrant to come into this industry; the primary barrier to the entry for new establishment is the stiff registration requirements applicable in most countries not just the United States of America.
As a matter of fact, immigration consulting firms cum immigration attorneys must comply with local licensing criteria set out by registration boards and professional associations to obtain registration in their country or the state they want to operate from.
This usually requires applicants to hold an accredited tertiary qualification before they can undertake written tests of skills, knowledge and abilities.
Lastly, the geographic distribution of immigration consulting firms and revenue in the industry is based on population levels and business locations. Immigration consulting firms tend to be located in areas with high populations; as such areas tend to have higher migrant levels, which can lead to visa applications for family members and for students.
As businesses use immigration consulting firms for employer sponsored visa applications, many industry firms generally tend to locate near business regions.
8. Our Target Market
The demographic and psychographics composition of those who need the services of immigration consulting services providers cut across individuals, small businesses and large corporations.
Johnson & Calvin® Consulting, LLP will initially serve small to medium sized business, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to be able to compete with the leading immigration consulting firms in the United States.
As a standard and licensed immigration consulting firm, Johnson & Calvin® Consulting, LLP offers a wide range of immigration consulting services hence we are well trained and equipped to services a wide range of clientele base. Our target market cuts across businesses of different sizes in both the individual and corporate clients.
We are coming into the industry with a business concept that will enable us work with individuals, small businesses and bigger corporations in and around New York City – New York and other cities in the United States of America. Below is a list of the people and organizations that we have specifically design our products and services for;
- International Students
- Undocumented Migrants
- Sport Clubs
- Construction Companies
- Real Estate Firms
- Individuals
- Households
- Blue Chips Companies
- Corporate Organizations
- Religious Organizations
- Hotels and Restaurants
- The Government (Public Sector)
Our competitive advantage
The level of competitions in the immigration consulting services industry depends largely on the location of the business and of course the Business model. If you can successfully create a unique brand identity for your immigration consulting firm or carve out a unique market, you are likely going to experience less competition.
For instance, if you are one of the few immigration consulting firms in your locations that has the most qualified and experienced immigration attorney under your payroll, you are likely going to have a competitive advantage over your competitors.
We are quite aware that to be highly competitive in the immigration consulting industry means that we should be able to deliver expected results, our clients should be able to pay for our services and we should be able to meet the expectations of clients.
Johnson & Calvin® Consulting, LLP might be a new entrant into the immigration consulting 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 immigration attorneys and 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 among the best within our category (start – ups immigration consulting firms) 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 objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Johnson & Calvin® Consulting, LLP is established with the aim of maximizing profits in the immigration consulting 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. Johnson & Calvin® Consulting, LLP will generate income by offering the following immigration consulting services;
- Provide legal advice about the ability to reside in the United States and country of their choice
- Collect and submit appropriate documentation to prove a case
- Helps obtain the type of documentation needed to legally reside within the country
- Obtain immediate access to citizenship in emergency situations
- Represent our clients in court
- Assist with citizenship tests
- Defend a person’s case to prevent him or her from being deported
- Handle family-sponsored immigrants, employment-based immigrant visas, Diversity programs, Refugees and Asylees and other categories
10. Sales Forecast
One thing is certain, there would always be undocumented migrants, international students, individuals, sport clubs, expatriates and corporate organizations et al that would need the services of professional architectural services providers.
We are well positioned to take on the available market in New York City – New York and other key cities in the United States of America and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond New York City to other cities in New York and other states in the U.S.
We have been able to critically examine the immigration consulting services 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 projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in New York City – New York.
Below are the sales projections for Johnson & Calvin® Consulting, LLP, it is based on the location of our business and the wide range of immigration consulting and advisory services that we will be offering to our clients;
- First Fiscal Year-: $250,000
- Second Fiscal Year-; $450,000
- Third Fiscal Year-: $950,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are mindful of the fact that there are stiffer competitions amongst immigration consulting firms and other related immigration service providers in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing.
Our sales and marketing team will be recruited base 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 speak for us in the market place; we want to build a standard and world – class immigration consulting firm that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).
Our goal is to grow our immigration consulting firm to become one of the top 20 immigration consulting 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 New York City – New York, but also in other cities in the United States of America.
Johnson & Calvin® Consulting, LLP is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our immigration consulting firm business by sending introductory letters alongside our brochure to migrant communities, sport clubs, corporate organizations, households and key stake holders in New York City and other cities in New York.
- Advertise our business in relevant magazines, newspapers, TV stations, and radio station.
- List our immigration consulting firm business on yellow pages’ ads (local directories)
- Attend relevant international and local immigrations, international studies 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 immigration consulting services to them
- Leverage on the internet to promote our immigration consulting firm
- Engage in direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
- Join local chambers of commerce and industries with the aim of networking and marketing our services.
11. Publicity and Advertising Strategy
Any business that wants to grow beyond the corner of the street or the city they are operating from must be ready and willing to utilize every available means (both conventional and non – conventional means) to advertise and promote the business. We intend growing our business which is why we have perfected plans to build our brand via every available means.
We know that it is important to create strategies that will help us boost our brand awareness and to create a corporate identity for our architectural services firm business. Below are the platforms we will leverage on to boost our brand and to promote and advertise our business;
- Place adverts on community based newspapers, radio stations and TV stations.
- Encourage the use of word of mouth publicity from our loyal customers
- Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
- Ensure that we position our banners and billboards in strategic positions all around New York City – New York
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Contact migrant communities, sport clubs, and corporate organizations et al by calling them up and informing them of Johnson & Calvin® Consulting, LLP and the services we offer
- Advertise our business in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.
12. Our Pricing Strategy
Hourly billing for immigration consulting services is a long – time tradition in the industry. However, for some types of immigration consultancy services, flat fees make more sense because they allow clients to better predict consultancy costs.
As a result of this, Johnson & Calvin® Consulting, LLP will charge our clients a flat fee for many basic services such as assist individuals in obtaining visas and gaining US citizenship, defend the rights of immigrants, navigate the issues of illegal immigration and assist businesses in understanding immigration issues in a global marketplace et al.
At Johnson & Calvin® Consulting, LLP 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.
We are aware that there are some clients that would need regular access to immigration consultancy and advisory services and assistance, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.
- Payment Options
The payment policy adopted by Johnson & Calvin® Consulting, LLP is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Johnson & Calvin® Consulting, LLP will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards / Point of Sale Machines (POS Machines)
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for all immigration consultancy and advisory services rendered.
13. Startup Expenditure (Budget)
When it comes to calculating the cost of starting an immigration consulting firm, there are some key factors that should serve as a guide. Besides, in setting up any business, the amount or cost will depend on the approach and scale you want to undertake.
If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.
As for the detailed cost analysis for starting an immigration consulting firm; it might differ in other countries due to the value of their money. Below are some of the basic areas we will spend our start – up capital in setting up our immigration consulting firm;
- The total fee for incorporating the Business in the United States of America – $750.
- The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400
- The amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000
- The total cost for hiring Business Consultant – $2,500
- The cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $5,000
- Marketing promotion expenses for the grand opening of Johnson & Calvin® Consulting, LLP in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- The cost for purchase of the required software applications (Visa tracking Software, Payroll Software, CRM software, and Accounting Software et al) – $10,500
- The cost of launching our official Website – $600
- Budget for paying at least three employees for 3 months plus utility bills – $10,000
- Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
- Miscellaneous: $1,000
Going by the report from the market research and feasibility studies conducted, we will need over one hundred and fifty thousand (150,000) U.S. dollars to successfully set – up a small scale but standard immigration consulting firm in the United States of America.
Generating Funds / Startup Capital for Johnson & Calvin® Consulting, LLP
No matter how fantastic your business idea might be, if you don’t have the required money to finance the business, the business might not become a reality. No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through.
Johnson & Calvin® Consulting, LLP is a business that will be owned and managed by Johnson Brownstone and his business partner Calvin Jefferson. 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.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. 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.
14. 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. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Johnson & Calvin® Consulting, LLP 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 immigration consultancy and advisory 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.
Johnson & Calvin® Consulting, LLP will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.
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.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Securing a standard office facility (renovation of the facility inclusive): Completed
- Purchase of All form of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founder: Completed
- Applications for Loan from our Bankers: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the Needed software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in the industry: In Progress