Counseling Private Practice Business Plan [Sample Template]

Are you about starting a counseling private practice? If YES, here is a complete sample psychological counseling private practice business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a counseling private practice. We also took it further by analyzing and drafting a sample counseling private practice marketing plan template backed up by actionable guerrilla marketing ideas for counseling private practice companies. So let’s proceed to the business planning section.

Are you a Psychologist, Social Worker or a Marriage Counselor? Do you know that you can make money from a thriving industry by going into private practice as any of the above practitioner?

Yes indeed, the Psychologists, Social Workers and Marriage Counselors industry is one pretty large and profitable industry in the united states that is open for aspiring entrepreneurs who are qualified and competent to come in as a private practitioner and rake in huge revenue.

This is true because, reliable statistics has it that the Psychologists, Social Workers and Marriage Counselors industry in the United States of America generates roughly $15 billion annually. If you are qualified and well positioned, you can get your own fair share of the available market in the industry and smile to the bank on a regular basis.

If you want to partake in this thriving industry, you would need to obtain all the necessary licenses and certifications and then launch your own counseling private practice business. The truth is that, the market is still pretty much open for new practitioners to come in.

Although there are competitions at various levels in the industry, but if you are able to come up with a good business strategy, you are sure of getting your own fair share of the available market in the industry.

So, if you have decided to start a counseling private practice business in the United States, then you should make sure that you carry out thorough feasibility studies and also market survey. Below is a sample counseling private practice business plan template that will help you successfully write yours without much stress;

A Sample Counseling Private Practice Business Plan Template

1. Industry Overview

The Psychologists, Social Workers and Marriage Counselors industry of which professionals who are into counseling (private practice belongs to) is composed of mental health practitioners who diagnose and treat mental, emotional and behavioral disorders brought about by mental illness, substance abuse or physical and emotional trauma.

These practitioners consist of psychologists, social workers and marriage counselors. It is important to state that the industry mental health professionals who have a Doctor of Medicine (MD) degree or a Doctor of Osteopathy (DO) degree are not included in this industry.

A close study of the Psychologists, Social Workers and Marriage Counselors industry shows that in the last half a decade, the industry has grown consistently. Private counseling services are needed regardless of economic conditions, which insulate the industry from economic fluctuations.

Going forward, as people continue to be employed and regain a steady income, private health insurance will become more affordable, prompting consumers to seek private counseling services when needed.

A recent report published by IBISWORLD shows that the Psychologists, Social Workers and Marriage Counselors industry has a low level of concentration, with the majority of firms employing less than five people and no industry firm accounting for more than 1.0 percent of total industry revenue.

The practices and theories of psychology are highly fragmented. For instance, cognitive and behavioral psychologies have developed in isolation from each other. This makes it difficult to create large practices that dominate any particular area.

The report further stated that, the benefits to achieving scale in the industry are minimal because fixed costs are low. Group practices are increasing in number, but these are not large operations either. One major benefit of group practices is the ability to spread administrative costs across several practitioners

The Psychologists, Social Workers and Marriage Counselors industry is a thriving sector of the economy of the United States of America and they generate a whopping sum of well over $15 billion annually from more than 141,495 registered and licensed Psychologists, Social Workers and Marriage Counselors scattered all around the United States of America.

The industry is responsible for the employment of well over 231,393people. Experts project the industry to grow at a 3.4 percent annual rate within 2011 and 2016. It is important to state that there is no single organization that has a lion share of the available market in the Psychologists, Social Workers and Marriage Counselors industry.

It can’t be over emphasized that the demand for the services offered by the private counselors grows when public confidence declines and people’s ability to handle the issues on their own wanes. When the housing bubble burst and the US economy fell into a recession, consumer confidence plummeted.

This decline, coupled with high unemployment, falling incomes and bleak outlooks, caused Americans to seek out the assistance of professional psychologists and counselors, benefiting the industry.

However, as the economy slowly continues to recover and consumer confidence returns, demand for their services is expected to diminish. Going forward, clients and potential clients alike will likely require less guidance, high-income households will serve as the primary vehicle of growth for the industry

Lastly, as a private counselor, the key attributes needed to be able to make good success from the trade is patience, enthusiasm, passion about the specific area to be handled, and constant positivity. You are also expected to be highly proactive; you would need to be good at planning, preparation, and certain other organizational skills.

It is one thing to have a skill and it is another thing to know how to counsel people into becoming successful; which is why you must constantly get feedbacks from your clients to be able to measure their progress and your performance.

2. Executive Summary

Safe Refuge Private Counselors®, LLP is a professional and licensed counseling (private practice) firm that is specialized in helping her clients overcome their challenges and achieve their personal goals and improving their competence, capacity and productivity.

The scope of our business offerings cover areas such as clinical psychology, industrial-organizational psychology, all other psychology, mental health social work, marriage and family therapy, child, family and school social workers, online counseling Services and retailing of self – help books and materials et al.

Our business will be located in – between a well – populated residential estate and a business district in Smethport – Pennsylvania, United States of America.

Safe Refuge Private Counselors®, LLP is a client-focused and result driven private counseling organization that provides broad-based counseling, learning approaches and experience at an affordable fee that won’t in any way put a hole in the pocket of our clients.

We will ensure that we work hard to meet and surpass all our clients’ expectations as it relates to their career and personal goals whenever they hire our services. At Safe Refuge Private Counselors®, LLP, our clients’ overall best interest would always come first, and everything we do is guided by our values and professional ethics.

We will ensure that we hire professional and certified psychologists, social workers and counselors with various skills set who are well experienced and passionate in helping our clients achieve their personal goals within record time.

Safe Refuge Private Counselors®, LLP will at all times demonstrates her commitment to sustainability, both individually and as a private counseling organization, 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 clients’ 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 overall business goal is to position our private counseling organization to become the leading private counseling brand in the psychologists, social workers and marriage counselors industry in the whole of Smethport – Pennsylvania, United States of America, and also to be amongst the top 10 private counseling business in the United States of America within the first 5 years of operations.

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 Smethport is the right place to launch our private counseling business.

Safe Refuge Private Counselors®, LLP is founded by Dr. Boston Smith and he will run the business with his business partner for many years Dr. Becky Allison. Dr. Boston Smith is a certified and renowned psychologist and marriage counselor.

He has well over 20 years of experience working with top government officials, corporate executives, celebrities and sports people both in the United States of America and Canada.

3. Our Products and Services

Safe Refuge Private Counselors®, LLP is going to offer varieties of psychology and counseling services within the scope of the psychologists, social workers and marriage counselors industry in the United States of America.

Our intention of starting our private counseling business is to help our clients overcome their challenges, achieve their personal goals and improving their competence, capacity and productivity and of course to also make profits from the psychologists, social workers and marriage counselors industry and we will do all that is permitted by the law in the US to achieve our aim and business goal.

Our service offerings are listed below;

Clinical psychology
Industrial-organizational psychology
All other psychology
Mental health social work
Marriage and family therapy
Child, family and school social workers
Online counseling services
Retailing of self – help books and materials

4. Our Mission and Vision Statement

Our vision is to build a highly competitive and effective private counseling business that will become the number one choice for both individuals and corporate organizations in Smethport – Pennsylvania and the whole of the United States of America.
Our mission is to provide affordable, professional and highly effective private counseling services to a wide range of clients that cuts across different divides. We want to position Safe Refuge Private Counselors®, LLP to become one of the leading private counseling brands in the industry in the whole of Smethport – Pennsylvania, and also to be amongst the top 10 private counseling firms in the United States of America within the first 5 years of operations.

Our Business Structure

Safe Refuge Private Counselors®, LLP, is a private counseling firm that intend starting small in Smethport – Pennsylvania, but hope to grow big in order to compete favorably with leading firms in the psychologists, social workers and marriage counselors industry both in the United States and on a global stage.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.

At Safe Refuge Private Counselors®, LLP, we will ensure that we hire people that are qualified, hardworking, creative, passionate, result driven, 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 / partners and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company.

In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

Principal Partner / Chief Executive Officer
Psychologists, Social Workers and Marriage Counselors
Office Administrator
Accountant
Marketing Executives
Client Service Executive

5. Job Roles and Responsibilities

Principal Partner / Chief Executive Officer:

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

Psychologist, Social Worker and Marriage Counselor

In charge of clinical psychology services
Responsible for handling industrial-organizational psychology services
Handles all other psychology services
Handles mental health social work
Provides marriage and family therapy
Handles child, family and school social works
In charge of online private counseling services
Retails of self – help books and materials
Handles any other duty as assigned by the Principal Partner / CEO.

Office Administrator

Responsible for overseeing the smooth running of HR and administrative tasks for Safe Refuge Private Counselors®, LLP
Designs job descriptions with KPI to drive performance management for psychologists, social workers and marriage counselors
Regularly hold meetings with key stakeholders to review the effectiveness of the organizations’ 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 activities of Safe Refuge Private Counselors®, LLP.

Marketing Executive

Identifies, prioritizes, and reaches out to new students, 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 organizations’ policy
Responsible for handling business research, market surveys and feasibility studies for clients
Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
executes and evaluates new plans for expanding increase sales
Documents all customer contact and information
Represents Safe Refuge Private Counselors®, LLP in strategic meetings
Helps to increase sales and growth for Safe Refuge Private Counselors®, LLP

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 Safe Refuge Private Counselors®, LLP
Serves as internal auditor for Safe Refuge Private Counselors®, LLP.

Client Service Executive

Welcomes clients and visitors 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 principal partners in an effective and timely manner
Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
Receives parcels / documents for Safe Refuge Private Counselors®, LLP

6. SWOT Analysis

Safe Refuge Private Counselors®, LLP engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured private counseling business that can favorably compete in the highly competitive psychologists, social workers and marriage counselors industry in the United States and the world at large.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Safe Refuge Private Counselors®, LLP. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Safe Refuge Private Counselors®, 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 private counseling practice.

Aside from the synergy that exist in our carefully selected team members and our strong online presence, Safe Refuge Private Counselors®, LLP is well positioned in a community with the right demography 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 private counseling organization in Smethport – Pennsylvania, 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 psychologists, social workers and marriage counselors industry; that is perhaps our major weakness.

Opportunities:

No doubt, the opportunities in the psychologists, social workers and marriage counselors industry is massive considering the number of individuals and corporate organizations who would want to overcome their challenges and achieve their goals and to perform excellently well in their jobs and personal life. As a standard private counseling organization, we are ready to take advantage of any opportunity that comes our way.

Threat:

Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the business.

Some of the threats that we are likely going to face as a private counseling organization operating in the United States of America are unfavorable government policies that might affect business such as ours, the arrival of a competitor within our location of operations and global economic downturn which usually affects spending / 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 trend in the psychologists, social workers and marriage counselors industry shows that in the last half a decade, the industry has grown consistently. Private counseling services are needed regardless of economic conditions, which insulate the industry from economic fluctuations.

Going forward, as people continue to be employed and regain a steady income, private health insurance will become more affordable, prompting consumers to seek private counseling services when needed.

One thing is certain, the trend in the psychologists, social workers and marriage counselors industry is such that if you want to be ahead of your competitors, you should be able to acquire as much certifications as possible and you should be able to have loads of testimonies from your clients.

The truth is that, if your clients experienced huge difference in their life as a result of hiring the services of your organization, then they will be compelled to help promote your organization.

Another notable trend in this industry is the influence of technology; the advent of technology is responsible for the increase in income generated by private counselors all over the world. With technology, it is no easier for private counselors to counsel their clients that are thousands of kilometers away from them.

Tools like video calling / Skype, YouTube, live chat and Webcast et al are being used by private counselors to counsel clients in different parts of the world.

8. Our Target Market

The target market for private counseling firms is all encompassing. Safe Refuge Private Counselors®, LLP is a professional and licensed private counseling firm that is specialized in helping her clients over life challenges, achieve their personal goals and improving their competence, capacity and productivity.

As a standard private counseling organization, Safe Refuge Private Counselors®, LLP offers a wide range of services hence we are well trained and equipped to services a wide range of clients (public figures, celebrities and non – celebrities alike).

Our target market as a private counseling firm cuts across people of different class and people from all walks of life. We are coming into the psychologists, social workers and marriage counselors industry with a business concept and company’s profile that will enable us work with the clients from different background and different status. Below is a list of the clients that we have specifically design our private counseling services for;

About to wed couples
Married couples
Religious organizations
Working class adults / corporate executives
Politicians
Business people / entrepreneurs
Government officials
Celebrities
Public figures
Applicants / school Leavers
Sports men and women
College students
People with undergoing depression
People with mental challenges

Our competitive advantage

No doubt, the psychologists, social workers and marriage counselors 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 overcome their challenges, and achieve their personal goals.

It is the practice for private counselors to acquire as much certifications as it relates to their area of specialization; it is part of what will make them stay competitive in the industry

We are quite aware that to be highly competitive in the psychologists, social workers and marriage counselors industry means that you should be able to deliver consistent quality service, your clients should be able to experience remarkable difference and improvement and you should be able to meet the expectations of your clients at all times.

Safe Refuge Private Counselors®, LLP might be a new private counseling firm in Smethport – Pennsylvania, 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 psychologists and marriage counselors that can successfully help her clients overcome their challenges and achieve their 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 psychologists, social workers and marriage counselors, we have a very strong online presence that will enable us counsel 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 private counseling businesses 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

Safe Refuge Private Counselors®, LLP is established with the aim of maximizing profits in the psychologists, social workers and marriage counselors 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. Safe Refuge Private Counselors®, LLP will generate income by offering the following private counseling services;

Clinical psychology
Industrial-organizational psychology
All other psychology
Mental health social work
Marriage and family therapy
Child, family and school social workers
Online counseling services
Retailing of self – help books and materials

10. Sales Forecast

One thing is certain, there would always be corporate organization and individual who would need the services of psychologists, social workers and marriage counselors in other for them to overcome their challenges and achieve their personal goals and also to enable them become peak performer in the career and in their family life.

This is the major reason why the services of private counseling firms will always be needed. We are well positioned to take on the available market in Smethport – Pennsylvania 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 our private counseling business and our clientele base.

We have been able to critically examine the private counseling 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 Smethport – Pennsylvania.

Below are the sales projections for Safe Refuge Private Counselors®, LLP, it is based on the location of our personal training and coaching company and of course the wide range of trainings that we will be offering;

First Fiscal Year-: $150,000
Second Fiscal Year-: $350,000
Third Fiscal Year-: $750,000

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 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 private counseling firms in the United States of America; hence we have been able to hire some of the best marketing experts to handle our sales and marketing.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of Safe Refuge Private Counselors®, LLP.

We will also ensure that our clients’ overcome their challenges in record time; we want to build a standard and first – class private counseling business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow Safe Refuge Private Counselors®, LLP to become one of the top 10 private counseling organization 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 Smethport – Pennsylvania but also in other cities in the United States of America.

Safe Refuge Private Counselors®, LLP is set to make use of the following marketing and sales strategies to attract clients;

Introduce our private counseling firm by sending introductory letters alongside our brochure to corporate organizations, religious organizations, households and key stake holders in Smethport – Pennsylvania.
Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
Use friends and family to spread word about our private counseling firm
Post information about our private counseling firm on bulletin boards in places like schools, libraries, and local coffee shops.
Placing a small or classified advertisement in the newspaper, or local publication about our private counseling firm
Advertise our private counseling firm in relevant educational magazines, newspapers, TV stations, and radio station.
Attend relevant educational expos, seminars, and business fairs et al
Engage direct marketing approach
Encourage word of mouth marketing from loyal and satisfied clients.

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 become the number one choice for both corporate clients and private clients in the whole of Smethport – Pennsylvania which is why we have made provisions for effective publicity and advertisement of our business. Below are the platforms we intend to leverage on to promote and advertise Safe Refuge Private Counselors®, 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 BillBoards on strategic locations all around Smethport – Pennsylvania.
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 Safe Refuge Private Counselors®, LLP and the services we offer
List our private counseling firm in local directories / yellow pages
Advertise our life private counseling firm 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

Generally counseling and consulting services are billed on per hour billing rate and flat fees on a weekly or monthly basis as it applies. As a result of this, Safe Refuge Private Counselors®, LLP will charge our clients flat fees except for few occasions where there will be need for us to charge special clients on hourly basis.

At Safe Refuge Private Counselors®, 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 all our clients at regular intervals.

We are aware that there are some clients that would need special 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 Safe Refuge Private Counselors®, 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 Safe Refuge Private Counselors®, 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 private counseling 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)

In setting up a personal training and life coaching business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a higher amount of capital as you would need to ensure that your employees are well taken care of.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The start – up capital for a home based private counseling business without any overhead might fall between $500 and $2,000, while that of a medium and large scale would definitely be higher.

The materials 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 a standard private counseling firm with a handful of employees; it might differ in other countries due to the value of their money.

However, this is what it would cost us to start our own standard and world class private counseling firm in the United States of America;

Business incorporation 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 private counseling firm 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 Safe Refuge Private Counselors®, LLP

Safe Refuge Private Counselors®, LLP is a partnership business that will be owned by Dr. Boston Smith and he will run the business with his business partner for many years Dr. Becky Allison. 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 Safe Refuge Private Counselors®, 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 private counseling 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.

Safe Refuge Private Counselors®, 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
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