Are you about starting a professional organizer business? If YES, here is a complete sample professional organizer business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a professional organizer business. We also took it further by analyzing and drafting a sample professional organizer marketing plan template backed up by actionable guerrilla marketing ideas for professional organizers. So let’s proceed to the business planning section.
Being a professional organizer means that you will be engaged in promoting the professional interest of members of your organization and their profession as a whole. You will also conduct research, develop statistics and certification standards, lobby and publish materials for your members and clients.
Starting a professional organizer company 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 and certified in relevant field and it is indeed a very lucrative business in the United States, Canada, Australia and The United Kingdom.
If you are truly convinced that starting a professional organizer company is the right business for you to do, then you need to write your own business plan. Below is a sample professional organizer company business plan template that will help you successfully write yours with little or no stress;
A Sample Professional Organizer Business Plan Template
1. Industry Overview
The professional organizations industry comprises of organizations that are basically engaged in promoting the professional interest of their members and their profession as a whole. These organizations also conduct research, develop statistics and certification standards, lobby or publish materials for their members.
A close study of the Professional Organizations industry shows that the industry has indeed benefited from growing employment, which increases the potential pool of members for a range of organizations, as well as disposable income and corporate profit levels, which raises the propensity of employees or employers on behalf of employees to pay membership dues for industry services.
Going forward, declining unemployment and of course rising disposable income and corporate profit will no doubt increase the number of potential members who would pick up membership from professional organizations.
The Professional Organizations 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 6,506 registered and licensed professional organizer company scattered all across the United States responsible for employing about 87,366and the industry rakes in a whooping sum of $21 billion annually.
The industry is projected to grow at 2.2 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.
A recent report published by IBISWORLD shows that the Professional Organizations industry has a low level of capital intensity. They projected that in 2016, wages are expected to account for 31.6 percent of industry revenue and depreciation costs, which stand in as a proxy for capital expenditure, are estimated to account for 2.5 percent in the same year.
As a result, for every $1.00 spent on wages, only $0.08 is allocated toward capital. Although operators are increasingly investing in computers and software to engage members and market their organizations online, the industry remains highly labor intensive.
The research further states that professional organizations companies rely much more heavily on labor than technology to conduct their operations.
Lastly, one thing is certain about starting a professional organizer company, 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. Just ensure that the business is properly located and you have the right business network.
2. Executive Summary
Dwight McGregor & Co®, LLP is a standard and licensed professional organizer company that will be based in Annapolis – Maryland close to Washington DC, the capital of the United States. We have been able to secure a standard and well – positioned office facility in a business district in the heart of the city capital.
Dwight McGregor & Co®, LLP will handle all aspect of professional organizer services such as promoting the professional interests of our members and the profession as a whole, conducting research, developing statistics, sponsoring quality and certification standards, lobbying public officials, organizing seminars, conferences, trade shows and other events, publishing directories, periodicals and books and providing training, testing and examination services et al.
We are aware that to run a standard professional organizer company can be demanding which is why we are well trained, licensed and equipped to perform excellently well.
Dwight McGregor & Co®, LLP is a client-focused and result driven professional organizer company 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 standard and professional services to all to our individual clients, and corporate clients at local, state, national, and international level.
We will ensure that we work hard to meet and surpass our clients’ expectations whenever they pick up membership our organization. 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 professional organizations et al.
Dwight McGregor & Co®, 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 professional organizer line of business in the whole of Annapolis – Maryland, and also to be amongst the top 20 professional organizer companies in the United States of America within the first 10 years of launching the business.
This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Annapolis – Maryland, a location close the Washington DC is the right place to launch our professional organizer company before spreading to other parts of The United States.
Dwight McGregor & Co®, LLP is founded by Dwight McGregor 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.
Dwight McGregor who is the lead partner has well over 10 years of experience working at various capacities within the professional organizer industry in the United States of America. Dwight McGregor and Calvin Jefferson are Lawyers. They both have the required experience and qualifications to build a world class professional organizer company.
3. Our Products and Services
Dwight McGregor & Co®, LLP is going to offer varieties of services within the scope of the professional organizations industry in the United States of America. Our intention of starting our professional organizer company is to favorably compete with leading players in the professional organizations 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;
- Promoting the professional interests of members and the profession as a whole
- Conducting research
- Developing statistics
- Sponsoring quality and certification standards
- Lobbying public officials
- Organizing seminars, conferences, trade shows and other events
- Publishing directories, periodicals and books
- Providing training, testing and examination services
4. Our Mission and Vision Statement
- Our vision is to build a professional organizer company brand that will become one of the preferred choices for both individual clients and corporate clients in the whole of Annapolis – Maryland. Our vision reflects our values: integrity, service, excellence and teamwork.
- Our mission is to provide professional and trusted professional organizer services that assist individuals, businesses and non-profit organizations in achieving their personal and business goals.
We are going to position the business to become one of the leading brands in the professional organizer line of business in the whole of Annapolis – Maryland, and also to be amongst the top 20 professional organizer companies in the United States of America within the first 10 years of launching the business.
Our Business Structure
Normally we would have settled for two or three full – time employees, but as part of our plans to build a standard professional organizer company in Annapolis – Maryland, 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 professional organizer company 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 Annapolis – Maryland.
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 / Principal Partner
- Event Planning Consultant
- Professional Lobbyist / Training and Development Consultant
- Company Lawyer
- Admin and HR Manager
- Business Developer
- Accountant
- Customer Care Executives
5. Job Roles and Responsibilities
Chief Executive Office / Principal Partner:
- 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
Event Planning Consultant
- Organizes seminars, conferences, trade shows and other events
- Responsible for interviewing and hiring vendors, selecting and ordering materials, negotiating rates, coordinating the sequence of events, following up with guests and vendors and producing full-scale events.
- Plans, designs and produces events while managing all project delivery elements within time limits
- Liaises with clients to identify their needs and to ensure customer satisfaction
- Conducts market research, gathers information and negotiate contracts prior to closing any deals
- Provides feedback and periodic reports to stakeholders
- Proposes ideas to improve provided services and event quality
- Organizes facilities and manage all events’ details such as decor, catering, entertainment, transportation, location, invitee list, special guests, equipment, promotional material etc.
- Ensures compliance with insurance, legal, health and safety obligations
- Specify staff requirements and coordinate their activities
- Cooperates with marketing and PR to promote and publicize event
- Proactively handle any arising issues and troubleshoot any emerging problems on the event day
- Conducts pre- and post – event evaluations and report on outcomes
- Researches market, identify event opportunities and generate interest
Professional Lobbyist / Training and Development Consultant
- Provides training, testing and examination services
- Promotes the professional interests of members and the profession as a whole
- Conducting research
- Develops statistics
- Sponsors quality and certification standards
- Lobbies public officials
- Manages the organization’s training school
- Coordinates training programs facilitated by Dwight McGregor & Co®, LLP
- Writes winning proposal documents, negotiate fees and rates in line with company policy
- Identifies trains and develops needs for staff through job analysis, appraisals and consultation
- Facilitates and coordinates strategic sessions.
- Works directly with clients in a non-advising capacity, such as answering questions, scheduling appointments and making sure all training concerns are properly taken care off
- Responsible for handling all trainings both internal and external trainings
Company’s Lawyer / Secretary / Legal Counsel
- Handles mitigation and remediation regarding any maintenance issues, generally within a budget, with prior or conveyed consent via a Limited Power of Attorney legally agreed to by the property owner.
- Responsible for drawing up contracts and other legal documents for the company
- Consults and handles all corporate legal processes (e.g. intellectual property, mergers & acquisitions, financial / securities offerings, compliance issues, transactions, agreements, lawsuits and patents et al)
- Develops company policy and position on legal issues
- Researches, anticipates and guards company against legal risks
- Represents company in legal proceedings (administrative boards, court trials et al)
- Plays a part in business deals negotiation and take minutes of meetings
- Responsible for analyzing legal documents on behalf of the company
- Prepares annual reports for the company
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 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 development 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 company in strategic meetings
- Helps increase sales and growth for the company
Accountant
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- 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 company
Client Service Executive
- 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 company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
- Receives parcels / documents for the company
- Handles enquiries via e-mail and phone calls for the organization
- Distribute mails in the organization
- Handles any other duties as assigned by the line manager
6. SWOT Analysis
Going by our vision, our mission and the kind of business we want to set – up, we don’t have any other option than to follow due process. Following due process involves hiring business consultant to help us conduct SWOT analysis for our business.
Dwight McGregor & Co®, LLP hired the services of a seasoned business consultant with bias in start – ups in the United States to help us conduct a thorough SWOT analysis and to guide us in formulating other business strategies that will help us grow our business and favorable compete in the professional organizations industry.
As a company, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Dwight McGregor & Co®, LLP.
- Strength:
Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in the professional organizations industry.
Aside from the synergy that exist in our carefully selected team members and our strong online presence, Dwight McGregor & Co®, LLP is well positioned in a city with the right demography close to Washington DC and we know we will attract loads of corporate and individual clients from the first day we open our doors for business.
- Weakness:
As a new professional organizer company in Annapolis – Maryland, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated professional organizations industry; that is perhaps our major weakness. So also, we may not have the required money to give the business the kind of publicity that we would love to give the business.
- Opportunities:
The opportunities available in the professional organization industry is massive considering the number of people lobbying for government positions, contractors and events that takes places on a daily basis in the United States. As a standard and licensed professional organizer company, 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 a professional organizer company operating in the United States of America are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing 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 professional organizations industry is in a continuous state of evolution and as such, ground breaking strategies and ideas that are once highly successful are no longer as productive as they were in time past. Close observation of the trend in the industry reveals that the past few years have seen the rise and proliferation of social media and new tech tools.
The trend also extend to increased attention paid to engagement and new market segments, adopting eco-friendly measures and sustainability when planning events, and of course increase in demands from event sponsors.
Although operators in the professional organizations industry are increasingly investing in computers and software to engage members and market their organizations online, the industry remains highly labor intensive. The research further states that professional organizations companies rely much more heavily on labor than technology to conduct their operations.
As a matter of fact, social media has now become one of the most important tools event planners and lobbyists leverage on to disseminate information about their events, interact with attendees, solicit feedback, and create year-round engagement with their target audience.
Furthermore, new software apps and emerging technology have made it easier for event planners cum professional organizers to gather all the needed data and information that will help them plan and project for the future.
In recent time, mobile event apps are becoming more popular; event planner cum professional organizers can now successfully host events via social media platforms / online platforms. In the United States for example, there several vendors providing mobile apps with more event planners patronizing the apps.
Over and above, with the invention of event apps, it is now compulsory for event planners and venue owners to offer Wi-Fi throughout the event, in all meeting rooms. The truth is that it will no longer be acceptable to not have Wi-Fi accessible at events; people will hardly rent halls without Wi-Fi facility.
8. Our Target Market
Even though Dwight McGregor & Co®, 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 professional organizer companies in the United States.
As a standard and licensed professional organizer company, Dwight McGregor & Co®, LLP offers a wide range of services hence we are well trained and equipped to services a wide range of clientele base.
Our target market cuts across people of different class and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us work with the highly – placed people and companies in the country and at the same with the lowly placed people and smaller businesses.
Below is a list of the people and organizations that we have specifically design our products and services for;
- Government contractors
- Blue – chips companies
- Corporate organizations
- Religious organizations
- Political parties / politicians
- Households / families
- The government (public sector)
- Schools (high schools, colleges and universities)
- Sport organizations
- Celebrities and public figures
- Entrepreneurs and Start – Ups
Our competitive advantage
No doubt, the professional organizations industry is indeed a very prolific and highly competitive industry. Clients will only hire your services if they know that you can successfully help them organize their events, win government contracts, secure government positions and achieve their personal and professional goals.
We are quite aware that to be highly competitive in the professional organizations industry means that you should be able to deliver consistent quality service, your clients should be able to improve the business and PR of your clients and you should be able to meet the expectations of your clients at all times.
Dwight McGregor & Co®, LLP might be a new professional organizer company in Annapolis – Maryland, but the management team and the owner of the business are considered gurus in the industry.
They are people who are core professionals, licensed and highly qualified, people that can successfully help her clients win government contracts, secure political appointment and achieve their professional and personal goal within a short period of time. These are part of what will count as a competitive advantage for us.
Aside from our robust experience and expertise of our team of experts, we have a very strong online presence that will enable us train and promote clients in different parts of the world from our online portals.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups professional organizer companies in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Dwight McGregor & Co®, LLP is established with the aim of maximizing profits in the professional organizations 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.
Dwight McGregor & Co®, LLP will generate income by offering the following services to individual clients and for corporate organizations;
- Promoting the professional interests of members and the profession as a whole
- Conducting research
- Developing statistics
- Sponsoring quality and certification standards
- Lobbying public officials
- Organizing seminars, conferences, trade shows and other events
- Publishing directories, periodicals and books
- Providing training, testing and examination services
10. Sales Forecast
One thing is certain, there would always be politicians and contractors who are lobbying for contracts and political appointments and also there would always be parties and events in the United States of America and as such the services of professional organizer companies will always be needed.
We are well positioned to take on the available market in the United States 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 Annapolis to other cities in Maryland and other states in the U.S.
We have been able to critically examine the professional organizations market space 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 Annapolis – Maryland.
Below are the sales projections for Dwight McGregor & Co®, LLP, it is based on the location of our business and the wide range of services that we will be offering;
- First Fiscal Year-: $150,000
- Second Fiscal Year-: $650,000
- Third Fiscal Year-: $1,000,000
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 professional organizer companies 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 marketplace; we want to build a standard professional organizer business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).
Our goal is to grow our professional organizer company to become one of the top 20 professional organizer companies 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 Annapolis – Maryland, but also in other cities in the United States of America.
Dwight McGregor & Co®, LLP is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our business by sending introductory letters alongside our brochure to corporate organizations, contractors, households and key stake holders in Annapolis and other cities in Maryland.
- Promptness in bidding for event planning / event management contracts from the government and other cooperate organizations
- Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
- List our business on yellow pages ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver quality event planning 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
- Join local chambers of commerce and industries with the aim of networking and marketing our services
11. 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 professional organizations industry by storm which is why we have made provisions for effective publicity and advertisement of our company. Below are the platforms we intend to leverage on to promote and advertise Dwight McGregor & Co®, LLP;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events / programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote our brand
- Install our Bill Boards on strategic locations all around Annapolis – Maryland
- Engage in road show from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- Contact corporate organizations by calling them up and informing them of Dwight McGregor & Co®, LLP and the services we offer
- List our private counseling firm in local directories / yellow pages
- Advertise our professional organizer company in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles are well branded with our schools’ logo et al
12. Our Pricing Strategy
Just like in consulting business, hourly billing for event planning / event management / training services is also a long – time tradition in the industry. However, for some types of professional organizations services like lobbying for a contract or political appointment, flat fees make more sense because they allow clients to better predict the overall service charges.
As a result of this, Dwight McGregor & Co®, LLP will charge our clients both flat fee and hourly billing as long as it favors both parties.
At Dwight McGregor & Co®, 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 professional organizations 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 Dwight McGregor & Co®, 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 Dwight McGregor & Co®, LLP will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via mobile money
- Payment via Point of Sales Machines (POS Machines)
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for our services 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 our services.
13. Startup Expenditure (Budget)
Starting a professional organization business 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.
However, this is what it would cost us to start our own standard and world class professional organizer company in the United States of America;
- Business incorporating fees in the United States of America will cost – $750.
- The budget for liability insurance, permits and license will cost – $3,500
- Acquiring an office space that will accommodate the number of employees we intend employing for at least 6 months (Re – Construction of the facility inclusive) will cost – $35,000.
- Equipping the office (computers, printers, projectors, markers, pens and pencils, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
- The cost for accounting software, CRM software and Payroll Software – $3,000
- Other start-up expenses including stationery – $1000
- Phone and Utilities (gas, sewer, water and electric) deposits – ($3,500).
- Launching an official website will cost – $500
- Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
- Miscellaneous – $5,000
Going by the report from the market research and feasibility studies conducted, we will need about one hundred and fifty thousand (150,000) U.S. dollars to successfully set – up a medium scale but standard professional organizer company in the United States of America. Please note that the salary for the payment of staff members for the first 3 months is included.
Generating Funds / Startup Capital for Dwight McGregor & Co®, LLP
Dwight McGregor & Co®, LLP is a partnership business that will be owned by Dwight McGregor and he will run the business with his business partner for many years Calvin Jefferson. They are the sole financial of the business 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 and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $50,000 (Personal savings $35,000 and soft loan from family members $15,000) 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 Dwight McGregor & Co®, 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 professional organization 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.
Dwight McGregor & Co®, 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 re – training 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
- Purchase of All form of Insurance for the Business: Completed
- Leasing a standard office facility in a good location plus reconstruction: In progress
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founders: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of Logo for the school: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the business: In Progress
- Creating awareness for the business in Smethport – Pennsylvania: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in various industries: In Progress