Social Media Consulting Business Plan [Sample Template]

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Are you about starting a social media consulting business? If YES, here is a complete sample social media consulting business plan template & FREE feasibility report. Okay, so we have considered all the requirements for starting a social media consulting business.

We also took it further by analyzing and drafting a sample social media consulting marketing plan template backed up by actionable guerrilla marketing ideas for social media consulting companies. So let’s proceed to the business planning section.

If you have a robust knowledge of how the social media works and you intend starting your business, then you should consider starting your own social media consulting firm. There are many corporate organizations, entrepreneurs and even startups that will be more than willing to patronize your services.

Being a social media consultant means that you will help your clients handle everything that has to do with their social media presence.

Your goal as a social media consultant is to ensure that an organization or client has active and interactive social media presence and also to help them reach out to their target market.

Starting a social media 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 social media specialist.

If you are truly convinced that starting a social media consulting firm is the right business for you to do, then you need to write your own business plan.

Below is a sample social media consulting firm business plan template that will help you successfully write yours with little or no stress.

A Sample Social Media Consulting Business Plan Template

1. Industry Overview

Social media consulting falls under social media marketing. Players in this industry provide internet marketing and search engine optimization (SEO) consultancy services.

SEO and internet marketing consultants provide expert advice and assistance in the fields of website search, web display and user functionality, social media development and integration and internet campaigns.

The Social Media Marketing industry is quickly expanding as a share of the economy. Before the year 2022, the Social media marketing industry value added, which represents its contribution to the economy, is projected to grow annually at a 26.2 percent rate. In the meantime, GDP growth is forecast to increase at a 2.2 percent average rate per year over the same 10-year period.

The growing trend which makes it easier for people to spend more time on the internet especially on social networking sites is a major boost in the revenue generated by social networking marketing companies.

It is common to find companies in this industry generating an increasing amount of advertising revenue per user by developing targeted advertising platforms and tools to measure the effectiveness of advertising.

Statistics has it that the Social Media Marketing industry in the united states of America is worth bn, with an estimated growth rate of 25.4 percent.

There are about 5,607 registered and licensed social media marketing companies cum social media consulting firms in the United States and they are responsible for employing about 66,623 people. It is important to state that no establishment can boast for having a lion share of the available market in the industry.

Firms that are into social media consulting make use social media platforms to create buzz, attract online traffic to their websites and the sell their products or services to their target market/customers.

As a matter of fact, social media marketing is perhaps the only form of marketing that can profile consumers at each and every stage of the consumer decision journey. Marketing through social media is just the way to go if indeed you want to push out your product and services to the entire globe.

When compared to traditional media that are often too expensive for startups and even SMEs, a social media marketing approach does not require expensive and out-of-reach budgeting.

This is why companies make use of platforms such as Facebook, Twitter, YouTube, LinkedIn and Instagram et al to reach a much wider target market as against making use of mainstream marketing tools which are expensive.

Over and above, social media firms have established themselves as an important entity especially when it comes to promoting businesses and individuals, not only to sell to consumers, but also to engage them.

It is now easier for organizations to expand their market from local level to national and even international markets with minimum capital investment.

2. Executive Summary

Drake Michelle™, Social Media Consulting Firm, LLC is a U.S based social media consulting firm. We have been able to secure a standard office facility in a central business district in Los Angeles – California.

We are a social media consulting firm that is set to compete in the highly competitive social media consulting industry not only in the United States market, but also in the global market because our clientele base will not be restricted to just businesses and organizations in the United States.

Drake Michelle™, Social Media Consulting Firm, LLC will offer robust social media consulting services to both corporate organizations and individuals.

We will offer services such as social medial communication and management services, blogging services and other social media related consulting and advisory services. Our business goal is to become one of the leading social media consulting firms in the United States of America with high profile clients scattered all around the world.

Our workers are going to be selected from a pool of talented and highly creative social media consultants in and around Los Angeles – California and also from any part of the world as the business grows.

We will make sure that we take all the members of our workforce through the required training that will position them to meet the expectations of the company and to compete with leading social media consulting firms in the United States and throughout the globe.

At Drake Michelle™, Social Media Consulting Firm, LLC, our client’s best interest will always come first, and everything we do will be guided by our values and professional ethics.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Drake Michelle™, Social Media Consulting Firm, LLC is partnership business that is founded by Drake Campbell and Michelle Milton.

They have a combined experience that revolves around market research, sales, web designing, graphic designing, corporate branding and advertising and business management et al.

3. Our Products and Services

Drake Michelle™, Social Media Consulting Firm, LLC was established with the aim of maximizing profits in the social medial consulting line of business.

We want to compete favorably with leading social media consulting firms in the United States of America and the world, which is why we have put in place a competent team that will ensure that we meet and even surpass our customers’ expectations.

We will work hard to ensure that Drake Michelle™, Social Media Consulting Firm, LLC do not just work for clients in the United States of America, but also for clients in other parts of the world. Our products and services are listed below;

Communication (advertising and branding) services
Blogging services
Specialty (image/profile boosting for individual clients) services
Social media management services
Social media training services
Social media marketing consulting and advisory services
Other social media marketing cum consulting related services

4. Our Mission and Vision Statement

Our vision is to establish a standard and world class social media consulting firm whose services and brand will not only be accepted in the United States of America, but also in other parts of the world.
Our mission is to provide professional and highly creative result oriented social media consulting services and other related services that will assist businesses, individuals and non-profit organizations in promoting their brands and reaching out to a wide range of potential customers all over the globe. We want to build a social media consulting firm that can favorably compete with other leading brands in the social media industry.

Our Business Structure

Drake Michelle™, Social Media Consulting Firm, LLC, is a social media consulting firm that intends starting small in Los Angeles, but hopes to grow big in order to compete favorably with leading social media consulting firms in the 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 operation.

At Drake Michelle™, Social Media Consulting Firm, LLC, we will ensure that we hire people that are qualified, hardworking, creative, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders.

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 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;

Chief Executive Officer (Drake Campbell)
Creative Director (Michelle Milton)
Social Media Consultant/PR Specialist
Human Resources and Admin Manager
Sales and Marketing Executive
Accountant
Client Service Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

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
Responsible for signing checks and documents on behalf of the company
Evaluates the success of the organization

Creative Director:

Serves as project manager of the organization; works directly with employees
Responsible for designing concepts and winning business proposals for the organization
In charge of copy writing and laying out chronological advertisement plans
Develops strategic plan by studying technological, and financial opportunities; presenting assumptions; recommending objectives.
Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
Maintains quality service by establishing and enforcing organization standards.
Makes certain that operations and marketing department perform efficiently, coordinate employee efforts, and facilitate communications between management and employees.
Ensures that the organization work in line with international best practices

Social Media Consultant/PR Specialist

Responsible for handling core social media consulting services such as communication (advertising and branding) services, blogging services, specialty (image / profile boosting for individual clients) services, social media management services and social media marketing consulting and advisory services
Responsible for training clients on how to use various social media platforms
Responsible for creating content/buzz words that will help attract traffic
Responsible for Search Engine Optimization (SEO)
Responsible for engaging internet users to get help statistics and leads
Handles other related corporate image advisory and consulting services

Human Resources and Admin Manager

Responsible for overseeing the smooth running of HR and administrative tasks for the organization
Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
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
Oversees the smooth running of the daily office

Sales and Marketing Manager

Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
Models demographic information and analyze the volumes of transactional data generated by customer
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
Develops, executes and evaluates new plans for expanding sales
Creates new markets cum businesses for the organization
Empowers and motivates the sales team to meet and surpass agreed targets

Accountant/Cashier:

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 organization
Serves as internal auditor for the organization

Client Service Executive

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 visitors/clients on behalf of the organization
Receives parcels/documents for the company
Handles enquiries via e-mail and phone calls for the organization
Distributes mails in the organization
Handles any other duties as assigned by the line manager

6. SWOT Analysis

Because of our quest for excellence, we engaged the services of a core professionals in the area of business consulting and structuring to assist our organization in building a structured social media consulting business that can favorably compete in the highly competitive social media marketing 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 Drake Michelle™, Social Media Consulting Firm, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Drake Michelle™, Social Media Consulting Firm, LLC.

Strength:

Our core strength lies in the power of our team. We have a team of creative, result driven and highly proficient social media consultants, a team with excellent qualifications and experience in various niche areas in the social media marketing industry. Aside from the synergy that exists in our carefully selected social media consultants, our services will be measurable, result driven and guided by best practices in the industry.

Weakness:

The truth is that as a new social media consulting firm in Los Angeles – California, it might take some time for our organization to break into the market and gain acceptance especially from high profile clients in the already saturated and highly competitive social media marketing industry; that is perhaps our major weakness. Another notable weakness is that we may not have the required cash to pump into promoting our business especially via main stream media (TV, Radio and Newspapers et al) the way we would want to.

Opportunities:

It is common knowledge that the opportunities available in the social media marketing industry is massive considering the number of individuals and corporate organizations who want to have active presence on the internet. As a standard and world class social media consulting firm, we are ready to take advantage of any opportunity that is available in the industry.

Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing/spending power. Another threat that may likely confront us is the arrival of a social media consulting firm or even social media marketing company in same location where our target market exists and who may want to adopt same Business model like us.

7. MARKET ANALYSIS

Market Trends

The growing trend which makes it easier for people to spend more time on the internet especially on social media networking sites is a major boost in the revenue generated by social media consulting firms. It is not common to find players in this industry generating an increasing amount of advertising revenue per user by developing targeted advertising platforms.

This has indeed changed the way organizations interact with consumers, as a substantial percentage of consumer interactions and profiling are now being carried out online and social media platforms with much higher visibility.

Another important factor worthy of mentioning in this industry is that as the target market keeps expanding, people and organizations are now seeing the need for them to have an official website and also to engage the services of social media consultants and marketing experts either in branding or packaging their products and services or in helping them directly sell their products and services to their target market.

Another common trend in the social media marketing industry is that most social media consulting firms no longer settle for clients within the location where their physical office is located but also from any part of the world. The truth is that with the advent of the internet, it is now easier for a social media consulting firm to work for clients in any part of the world.

A social media consulting firm can be located in India and have their biggest client in the United States of America or the united kingdom, many thanks to the power of the internet which has brought the world closer to us. Lastly, the social media marketing industry will continue to evolve due to the advancement of computer technology and software applications et al.

8. Our Target Market

Before starting our social media consulting business, we are certain that there is a wide range of both corporate and individual clients who cannot successfully run their businesses without the services and support of a social media consultants.

In view of that, we have created strategies that will enable us reach out to various corporate organizations and individuals who we know can’t afford to do without our services. We have conducted our market research and survey and we will ensure that we meet and surpass the expectations of our clients.

Below is a list of the people and organizations that we will specifically market our services to;

Banks, Insurance Companies and other related Financial Institutions
Corporate Organizations
Manufacturers and Distributors
Real Estate Owners, Developers, and Contractors
Research and Development Companies
Schools (High Schools, Colleges and Universities)
Hotels
Celebrities, Politicians, Public Figures and Public Speakers
Sport Organizations
Religious Organizations
Branding and Advertising agencies
Aspiring celebrities
Entrepreneurs and Startups

Our Competitive Advantage

Surviving in the business world as a social media consulting firm requires more than your expertise, knowing how to conduct your business but also how to network with key people that matters; decision makers that can decide who will get a contract or a business deal.

We are quite aware that to be highly competitive in the social media marketing industry means that you are not only expected to deliver consistent and excellent services, but you must be result driven and able to meet set targets.

Our competitive advantage lies in the power of our team. We have a team of creative, result driven and highly proficient social media consultants, a team with excellent qualifications and experience in various niche areas in the social media marketing industry. Aside from the synergy that exists in our carefully selected social media marketing experts, our services will be measurable, result driven and guided by best practices in the industry.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category 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

Drake Michelle™, Social Media Consulting Firm, LLC is established with the aim of maximizing profits in the social media marketing industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.

Drake Michelle™ Social Media Consulting Firm, LLC will generate income by offering the following social media consulting services and other related services;

Communication (advertising and branding) services
Blogging services
Specialty (image/profile boosting for individual clients) services
Social media management services
Social media marketing consulting and advisory services
Social media training services
Other social media marketing cum consulting related services

10. Sales Forecast

One thing is certain, there would always be corporate organizations and individuals who would need the services of social media consulting firms to help them increase sales or promote their brands.

We are well positioned to take on the available market in the social media marketing industry and we are quite optimistic that we will meet our set target of generating enough profits from the first six months of operation and grow our social media consulting firm to enviable heights.

We have been able to critically examine the social media consulting marketing space, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups in Los Angeles – California.

Below are the sales projection for Drake Michelle™ Social Media Consulting Firm, LLC, it is based on the location of our business and of course the wide range of our services and target market;

First Year: $250,000
Second Year: $600,000
Third Year: $950,000

N.B: This projection was 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 social media consulting 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 stiff competitions in the social media marketing industry, 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 social media marketing industry and they will be trained on a regular basis so as to be equipped to meet their targets and the overall business goal of Drake Michelle™, Social Media Consulting Firm, LLC.

Our corporate goal is to grow Drake Michelle™, Social Media Consulting Firm, LLC to become one of the leading social media consulting brands in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in the United States of America but also in other parts of the world.

Drake Michelle™, Social Media Consulting Firm, LLC is set to make use of the following marketing and sales strategies to attract clients;

Introduce our social media consulting firm by sending introductory letters alongside our brochure to individuals, corporate organizations, government agencies, religious organizations and key stake holders
Engage in aggressive online marketing
Promptness in bidding for social media consulting cum marketing contracts from the government and other cooperate organizations
Advertise our business in relevant business magazines, newspapers, TV and radio stations
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 consulting firm
Post information about our social media consulting firm on bulletin boards in places like schools, libraries, and local coffee shops
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 excellent design and services
Leverage on the internet to promote our business
Engage in direct marketing approach
Encourage the use of Word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We have been able to work with our in – house 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 and individual clients in the whole of the United States and beyond which is why we have made provisions for effective publicity and advertisement of our social medial consulting firm.

Below are the platforms we intend to leverage on to promote and advertise Drake Michelle™ Social Media Consulting Firm, LLC;

Place adverts on both print (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 services
Install our billboards on strategic locations all around Los Angeles
Engage in roadshows from time to time in targeted neighborhoods
Distribute our fliers and handbills in target areas
List our social media consulting firm in local directories/yellow pages
Advertise our social media consulting firm in our official website and employ strategies that will help us pull traffic to the site.

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, Drake Michelle™ Social Media Consulting Firm, LLC 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 Drake Michelle™ Social Media Consulting Firm, LLC we will keep our fees below the average market rate 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 as it relates to setting up and managing their social media accounts, 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 Drake Michelle™ Social Media Consulting Firm, LLC 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 Drake Michelle™ Social Media Consulting Firm, LLC will make available to her clients;

Payment via bank transfer
Payment via credit cards
Payment via online bank transfer
Payment via check
Payment via mobile money transfer

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.

13. Startup Expenditure (Budget)

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 a place, 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.

The materials and equipment that will be used are nearly the same cost everywhere, and any difference in price would be minimal and can be overlooked. As for the detailed cost analysis for starting a social media consulting firm; it might differ in other countries due to the value of their money. However, this is what it would cost us to setup Drake Michelle™ Social Media Consulting Firm, LLC in the United 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 for at least 6 months (Re – Construction of the facility inclusive) will cost – $100,000
Equipping the office (computers, printers, projectors, markers, servers/internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $30,000
The amount required to purchase the needed software applications – $3,500
The amount needed for launching an official Website will cost – $500
The 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

Going by the report from the market research and feasibility studies conducted, we will need about two hundred and fifty thousand (250,000) U.S. dollars to successfully set up a medium scale but standard social media consulting firm in the United States of America.

Generating Startup Capital for Drake Michelle™ Social Media Consulting Firm, LLC

Drake Michelle™ Social Media Consulting Firm, LLC is a business that will be owned and managed by Drake Campbell and his friend and business partner Michelle Milton. They are the sole financiers of the business which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.

These are the areas we intend generating our startup capital;

Generate part of the startup capital from personal savings and sale of his stocks
Generate part of the startup capital from friends and other extended family members
Generate a larger chunk of the startup capital from the bank

N.B: We have been able to generate about $100,000 (Personal savings $85,000 and soft loan from family members $15,000) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and documents have 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 number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business close shop.

One of our major goals of starting Drake Michelle™ Social Media Consulting Firm, LLC 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 social media consulting 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.

Drake Michelle™ Social Media Consulting Firm, LLC 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
Securing a standard office facility: Completed
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Conducting Feasibility Studies: Completed
Generating part of the startup 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 business: Completed
Secure trademark for our products: In Progress
Graphics Design and Printing of Promotional Materials: Completed
Recruitment of employees: In Progress
Purchase of the needed furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
Creating Official Website for the business: In Progress
Creating Awareness for the business: In Progress
Health and Safety and Fire Safety Arrangement: In Progress