A Universal Business Plan

for an Independent
Bookkeeping, Financial,
and
Payroll Service
Table of Contents
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Form of Business
Short Term Objectives
Long Term Objectives
Personnel
Insurance
Location
Business Risk
Products and Services
Customers/Clients
Locating Clients
Competition
Marketing Plan
Equipment and Materials Needed

Chosen Name
(Location)

____________________________________________
____________________________________________
____________________________________________

Form of Business

Proprietorship
A proprietorship business form has been chosen. This will create personal
identification and responsibility. Each client will be dealt with on an
individual basis and confidence and good reputation will be used for
business growth.

Short Term
Objectives

Business Establishment
.
The aim of the business is to establish a professional
accounting/bookkeeping service that will reflect quality performance and
fill a wide range of business needs.
.
To create for clients proper accounting, inventory, and financial
controls that will aid them by giving constant business growth on a
profitable basis.
.
To make available to clients accounting systems that have been
designed for their business, and have these systems available for both handposted and computerized usage.

Long Term
Objectives

A Growing Business
.
The aim is to create and continue the business on a sound and
conservative basis.
.
To promote (through direct mail and personal contact) services and
products to prospective clients in a way that will cause business growth on
a continuing steady pattern.
.
To gradually expand the business through the inclusion of qualified
associates who have been adequately trained in business management.

Personnel

Trained and Qualified

.
Present. My own background includes exclusive training in
business management and accounting systems. I have completed a wide
variety of different companys books which include general sales,
manufacturing, construction, automotive, and finance. They include the
preparation of financial reports and statements.

.
from

My educational and professional background includes graduation

,
, and
, all specializing in Accounting and Business
Management.

.
Future. Any additions to personnel will be based on their individual
training in all facets of business accounting with the ability to converse with
clients on a professional and knowledgeable basis.
Insurance

Insurance Coverage
All business insurance will include full coverage of all assets of the business
in case of loss by theft, fire, or other related reasons. Personal life
coverage, in the event of death, will be in the sum of $
.

Location

The location of the business will be in my home located at

. Overhead costs will be kept at a minimum. A
room within the home will be fully equipped and utilized for the
bookkeeping service business. My present residential location is within an
area where over 1,000 small prospective business clients are located.

Business Risk

1.

The normal business risks which result from unprepared

management, inadequate capital, and lack of accounting have been
given careful consideration and are being covered as part of this
business plan.

2.
The current business climate shows a definite need and a future
expansion potential for those who are qualified to give professional
accounting services.
Products and
Services Provided

General Business Bookkeeping Products

1536. The products I have available to clients include hand-posted
accounting systems for partial or full-charge accounting. They include
bound manuals covering journalized bookkeeping, the general ledger, and a
variety of subsidiary ledgers.
1537. A complete filing system for daily transactions is furnished to clients
for their use in giving stronger financial control.
1538. A computer accounting program covering the entire integrated field
of business bookkeeping is available for distribution to clients when such
becomes requested or desired.

Services
.
Complete bookkeeping services are included as needed and
requested by clients, including data entry for all sales, disbursements,
payrolls and standard entries.
.
Detailed computation and completion of financial statements are
made available as a separate service for those clients who already maintain
in-house journalized bookkeeping.
.
Special services covering business financing, year-end tax returns,
word processing, and corporate management are optional services available
to clients on a contract basis.
Customers and
Clients

Types and Size of Businesses

.
All small businesses are potential clients. Where in-house
bookkeeping is maintained, the professional completion of financial
statements, business financial packages and corporate creations, special
consultations and services will be available when requested.
.
For businesses that have no complete bookkeeping systems, these
will be provided and serviced on a daily, weekly, or monthly basis as
needed.
.
Final year-end closings, tax returns, and management reports will be
made available to all clients and customers.

Locating Clients

Advertising for New Clients

.
The advertising budget will be maintained on a very conservative
basis. Direct mail to new businesses and businesses within the close
vicinity of the office will be the primary source of clients. Each of these
businesses will be given personal contact with a visual display of all
products and services offered.
.
All direct mail advertising will come from proven solicitation
methods covering the exclusive systems designed and available for the
clients specific business.
.
Referrals will be gained from satisfied clients and used in the
promotion of new customers.
.
Direct telephone solicitation will be used when personnel (able to
give proper presentations) can be located and utilized. All clients will be
kept in contact on a monthly personalized basis.

Initial Promotion
.
Two hundred and fifty personal letters to friends and relatives will
be sent announcing the opening of my new business, asking for referrals,
and offering a thank you. Business cards will be included with each
letter.
.
Ten personal letters will be mailed each business day to all small
businesses within a one-mile radius of my business location advising them
of my business service and confirming a specific personal visit with an
accounting and financing presentation.
.
Ten letters with brochures will be mailed each business day to new
businesses within the trade area advising them of the available bookkeeping
systems and offering financing preparation services.
.
A one-column by five inch local newspaper ad will be run weekly
for the first month of business (together with a FREE published article
written about me, personally, and the service I offer printed in the same
newspaper). A personal picture will be included with the article.
.
Ten personal contacts will be made daily as a follow-up to the
written requests for appointments.
.
Ten follow-up telephone calls will be made daily to new businesses
who have been mailed letters and brochures.
.
All letters mailed and telephone calls made will emphasize the
personally designed accounting systems, and financing services I have
available.
.
Each presentation visit will include a display of the filing system and
simplified accounting forms available for client use.
Competition

Other Competitive Bookkeeping Services

.
Other bookkeeping services within the city should create a constant
source of new clients. This would be caused due to the many additional
services I will offer. With the utilization of updated systems and programs,
plus a weekly contact, financial statements can be completed immediately
at the end of each month, which is what clients desire. Lack of prompt
service will create immediate interest from those who want quicker action.
.
Some competition (having been in business for many years)
becomes lax and not willing to give complete service to clients.

.
Having many additional business services available through the
furnishing of financing loan packages, corporate articles, and year-end
closings will add to client interest.
.
My pricing and billing structure gives great flexibility and provide
prospective clients quick service quotations.
Overall Marketing

An Expanding Area
.
The location of my business is in a growing commercial area. New
retail stores are being created each year. Shopping centers are large and
fully occupied.
.
Based on present studies, the need for professional accounting
services becomes greater each year. A recent government circular shows
accountants as being #3 in the demand professions during the next ten
years.
.
Small businesses are maintaining a continual growth pattern.
Population within the area is increasing and demand for services is
following the same pattern.
Why Will Clients be Attracted
.
The products and services offered are more complete than those
offered by the competition and are in increasing demand as a greater
number of small businesses are created.
.
The personal on site service given by me together with
exclusively designed systems for businesses will create interest.
.
My training and background plus that of personnel will be a
positive plus in present and future marketing.

Equipment and
Materials Needed
for Professional
Service

Electronic Equipment and Materials

In order to prepare modern financial documentation in a computerized
fashion, the following equipment is considered necessary:
.
An IBM compatible 386 computer with a color monitor.
.
A wide and narrow (track fed) printer for use in preparing journals
and columnar presentations.
.
A laser printer for high quality financial statements.
.
A full capacity printing calculator.
.
An electric typewriter for quick service.

Computer Programs and Materials

.
ABC Full Charge Bookkeeping Software
.
WordPerfect 5.1 Computer Software
.
LOTUS 1-2-3, ver. 2.3 Computer Program
.
A Payroll Plus Program
.
Client file displays
.
Computer Paper and Office Supplies
.
Hand-posted Bookkeeping Systems for clients and full-charge
service
Furniture and Fixtures
1.
2.
3.
4.

An executive size office desk and chair

A four-drawer business filing cabinet
Two customer arm chairs
Office bookcase, decorations and planters