Are you about starting a bookkeeping business?

If YES, here is a complete sample

bookkeeping service business plan template & feasibility study you can use for
FREE.
ideas for bookkeeping firms. So let’s proceed to the business planning section.
Have you ever dreamt of becoming your own boss? Did you by chance study Accountancy
or Bookkeeping and are finding it difficult to get your ideal job? You don’t need to worry
because your dream of becoming your own boss and still work as an accountant can be
fulfilled with little or no start-up capital.
Why Start a Bookkeeping Firm?
In case you didn’t know, there are loads of small businesses, mom and pop businesses,
amongst a few without the faintest idea of any bookkeeping, payroll and accounting skills.
These businesses struggle with their books a lot. Research shows that one of the reasons
why many small businesses remain small and sometimes close shop is not because they
don’t have clients or capital to run the business but because they fail to keep their books
properly. If you are an accountant, then you can leverage on this read to start your own
bookkeeping and payroll services Business.
You can be sure that your services would always be in demand by those small businesses
that can’t afford to hire a full time accountant. They know that it would save them cost and
the good thing is that you can handle up to 20 clients per time depending on how organized
and hardworking you are.
Here is a sample bookkeeping business plan that will come in handy as you start your
business;

A Sample Bookkeeping Service Business Plan Template

 Business Overview

The financial services industry is indeed a broad industry and one of the active lines of
businesses in the industry is bookkeeping and payroll services business. Bookkeeping is all
about recording of financial transactions especially in businesses. It is part of the process of
financial accounting in business.
The basic transactions that bookkeepers keep for businesses include purchases, sales,
receipts, and payments by an individual person or an organization/corporation. Although
there are quite a few standard methods of bookkeeping. Methods such as the single-entry
bookkeeping system and the double-entry bookkeeping system are used.
The bookkeeping and payroll services industry has loads of small business operators
servicing a wide range of clients ranging from start – ups to well established businesses.
Basically, bookkeeping and payroll services firms offers outsourced payroll services for
clients’ employees and basic bookkeeping services as requested.
The Bookkeeping and Payroll Services industry is indeed in a mature stage of its growth.
The industry is characterized by growth in line with the overall outlook of the economy,
consolidation from the largest players in the industry and wholehearted market acceptance
of industry products and services.
The bookkeeping and payroll services line of business will continue to be in high demand by
business establishment in the United States, most especially as the number of businesses
and employees increases. Corporate organizations are also expected to continue to
outsource their human resource functions such as payroll et al so as to focus their attention
on their core area of operations.
The Bookkeeping and Payroll Services industry is indeed a large industry and pretty much
active in countries such as United States of America, United Kingdom, France, Italy,
Nigeria, South Africa Japan, China, Germany, and Canada et al. Statistics has it that in the
United States of America alone, there are about 285,212 registered and licensed
Bookkeeping and Payroll Services firm responsible for employing about 929,849 and the
industry rakes in a whooping sum of $81 billion annually. The industry is projected to enjoy
7.8 percent annual growth.
One thing is certain about starting a bookkeeping and payroll services business, 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 mom and pop shops, start – ups and
even corporate organization who would want to hire your services.
Lastly, with bookkeeping and payroll services business, you can afford to partner with other
smaller firms that are into financial related services. You can partner with tax consulting
firm, you can partner with auditing firms and you can partner with human resources
consulting firms et al. The bottom line if that, if you are have a robust network and you are
well positioned, you can indeed maximize your bookkeeping and payroll services business.

Bookkeeping Service Business Plan – Executive Summary

Chris Morgan Financial Consulting, LLC is a registered and licensed financial consulting
firm with biased in bookkeeping and payroll services and will be based in Las Vegas –
Nevada. The company will handle all aspect of bookkeeping and payroll related services
such as:

 Full-service payroll services

 Payroll services sold separately
 Billing services
 Bookkeeping and compilation services
 General accounting services
 Tax planning and consulting services
 Tax preparation and representation services and other related financial services.

We are aware that to run an all – round and standard bookkeeping and payroll services firm
can be demanding which is why we are well trained, certified and equipped to perform
excellently well.
Chris Morgan Financial Consulting, LLC is a client-focused and result driven bookkeeping
and payroll services firm that provides broad- based services at an affordable fee that won’t
in any way put a hole in the pocket of our clients. We will offer a standard and professional
bookkeeping and payroll 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 hire our services.
At Chris Morgan Financial Consulting, LLC, 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 financial consulting services
industry with bias in accounting, bookkeeping and payroll administration.
Chris Morgan Financial Consulting, LLC 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 bookkeeping and payroll
services line of business in the whole of Nevada, and also to be amongst the top 20
bookkeeping and payroll services businesses in the United States of America within the first
10 years of operations.
This might look too tall a dream but we are optimistic that this will surely be realized
because we have done our research and feasibility studies and we are enthusiastic and
confident that Las Vegas is the right place to launch our bookkeeping and payroll services
business before sourcing for clients from other cities in The United States of America.
Chris Morgan Financial Consulting, LLC is founded by Chris Morgan and Mark Lake, 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. Chris Morgan has well
over 5 years of experience working at various capacities within the financial consulting
services industry in the United States of America. Mr. Chris Morgan graduated from both
University of California – Berkley with a Degree in Accounting, and University of Harvard
(MSc.) and he is a chartered account. Mark Lake has ample experience in the area of tax
consulting and financial auditing.

 Our Product and Services

Chris Morgan Financial Consulting, LLC is going to offer varieties of services within the
scope of the financial consulting services industry in the United States of America. Our
intention of starting our bookkeeping and payroll services firm is to work with both smaller
organizations (start – ups and mom and pop shops) and also well – established corporate
organizations who would want to outsource the payroll and bookkeeping concerns.
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
offering are listed below;

 Provide Full-service payroll services

 Provide Payroll services sold separately
 Provide Billing services
 Provide Bookkeeping and compilation services
 Provide General accounting services
 Provide Tax planning and consulting services
  Provide Tax preparation and representation services
 Other financial consulting and advisory related services

Our Vision Statement

Our vision is to build a bookkeeping and payroll services brand that will become the number
one choice for both smaller businesses and corporate clients in the whole of Las Vegas –
Nevada. Our vision reflects our values: integrity, service, excellence and teamwork.

 Our Mission Statement

Our mission is to provide professional, reliable and trusted bookkeeping and payroll
services that assist start – ups, corporate organization and non-profit organizations in
organizing their books and financial related concern. We will position the business to
become the leading brand in the bookkeeping and payroll services line of business in the
whole of Nevada, and also to be amongst the top 20 bookkeeping and payroll services firms
in the United States of America within the first 10 years of operations.

 Our Business Structure

Ordinarily we would have settled for two or three staff members, but as part of our plan to
build a standard Bookkeeping and Payroll services firm in Las Vegas – Nevada, 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 firm.
The picture of the kind of bookkeeping and payroll services business 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 Las Vegas – Nevada as long as they are willing and
ready to work with us to achieve our business goals and objectives.
Below is the business structure that we will build Chris Morgan Financial Consulting, LLC;

 Chief Executive Officer

 Bookkeeper and Payroll Administrator
 Admin and HR Manager
 Marketing and Sales Executive
 Accountant
 Customer Care Executive / Front Desk Officer

Roles and Responsibilities

Chief Executive Office:

 Increases management’s effectiveness by recruiting, selecting, orienting, training,

coaching, counseling, and disciplining managers; communicating values, strategies,
and objectives; assigning accountabilities; planning, monitoring, and appraising job
results; developing incentives; developing a climate for offering information and
opinions; providing educational opportunities.
  Creates, communicates, and implements the organization’s vision, mission, and
overall direction – i.e. leading the development and implementation of the overall
organization’s strategy.
 Responsible for fixing prices and signing business deals
 Responsible for providing direction for the business
 Creates, communicates, and implements the organization’s vision, mission, and
overall direction – i.e. leading the development and implementation of the overall
organization’s strategy.
 Responsible for signing checks and documents on behalf of the company
 Evaluates the success of the organization

Bookkeeper and Payroll Administrator

 Responsible for ensuring that all transactions whether it is cash transaction credit
transaction are recorded in the correct daybook, supplier’s ledger, customer ledger,
and general ledger
 Brings the books to the trial balance stage
 Provides Full-service payroll services
 Provides Payroll services sold separately
 Provides Billing services
 Provides Bookkeeping and compilation services
 Provides General accounting services
 Provides Tax planning and consulting services
 Provides Tax preparation and representation services
 Handles other financial related services

Admin and HR Manager

 Responsible for overseeing the smooth running of HR and administrative tasks for
the organization
 Design 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.
 Defining job positions for recruitment and managing interviewing process
 Carries out staff induction for new team members
 Responsible for training, evaluation and assessment of employees
 Responsible for arranging travel, meetings and appointments
 Updates job knowledge by participating in educational opportunities; reading
professional publications; maintaining personal networks; participating in
professional organizations.
 Oversees the smooth running of the daily office activities.
Marketing and Sales Executive

 Identifies, prioritizes, and reaches out to new partners, and business opportunities et
al
 Identifies development opportunities; follows up on development leads and contacts;
participates in the structuring and financing of projects; assures the completion of
relevant projects.
 Writs 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 to increase sales and growth for the company

Accountant

 Responsible for preparing financial reports, budgets, and financial statements for the
organization
 create reports from the information concerning the financial transactions recorded by
the bookkeeper
 Prepares the income statement and balance sheet using the trial balance and
ledgers prepared by the bookkeeper.
 Provides managements with financial analyses, development budgets, and
accounting reports; analyzes financial feasibility for the most complex proposed
projects; conducts market research to forecast trends and business conditions.
 Responsible for financial forecasting and risks analysis.
 Performs cash management, general ledger accounting, and financial reporting for
one or more properties.
 Responsible for developing and managing financial systems and policies
 Responsible for administering payrolls
 Ensures compliance with taxation legislation
 Handles all financial transactions for the company
 Serves as internal auditor for the company

Client Service Executive / Front Desk Officer

 Welcomes guests and clients by greeting them in person or on the telephone;

answering or directing inquiries.
 Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides
the client with a personalized customer service experience of the highest level
 Through interaction with clients on the phone, uses every opportunity to build client’s
interest in the company’s products and services
  Manages administrative duties assigned by the manager in an effective and timely
manner
 Consistently stays abreast of any new information on the company’s products,
promotional campaigns etc. to ensure accurate and helpful information is supplied to
clients
 Receives parcels / documents for the company
 Distributes mails in the organization
 Handles any other duties as assigned my the line manager

Bookkeeping Service Business Plan – SWOT Analysis

Chris Morgan Financial Consulting, LLC engaged the services of a core professional in the
area of business consulting and structuring to assist the firm in building a well – structured
bookkeeping and payroll services firm that can favorably compete in the highly competitive
financial consulting services industry.
Part of what the team of business consultant did was to work with the management of our
organization in conducting a SWOT analysis for Chris Morgan Financial Consulting, LLC.
Here is a summary from the result of the SWOT analysis that was conducted on behalf of
Chris Morgan Financial Consulting, LLC;

 Strength:

Our core strength lies in the power of our team; our workforce. We have a team that can go
all the way to give our clients value for their money; a team that are trained and equipped to
pay attention to details and to deliver excellent jobs. We are well positioned and we know
we will attract loads of clients from the first day we open our doors for business.

 Weakness:

As a new travels and tours agency, it might take some time for our organization to break
into the market and gain acceptance especially from corporate clients in the already
saturated financial consulting services industry; that is perhaps our major weakness. So
also we may not have the required cash to give our business the kind of publicity we would
have loved to.

 Opportunities:

The opportunities in the financial consulting services industry is massive considering the
number of mom and pop businesses, start – ups and of course corporate organizations who
can’t afford to do without the services of bookkeeping and payroll service providers. As a
standard and well – positioned bookkeeping and payroll service provider, 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 bookkeeping and payroll service
firm operating in the United States are unfavorable government policies, the arrival of a
competitor within our location of operations and global economic downturn which usually
affects purchasing / spending power. There is hardly anything we can do as regards these
threats other than to be optimistic that things will continue to work for our good.

Bookkeeping Service Business Plan – MARKET ANALYSIS

 Market Trends

The financial consulting services industry is indeed a very large industry and of course it is
one industry that works for businesses across different industries. If you are conversant with
the trend in the financial consulting services industry, you will agree that loads of mom and
pops, businesses, and start – up ventures that do not have the capacity to hire chatter
accountants to keep their books would naturally hire the services of bookkeeping and
payroll services providers who would usually charge them service charge.
Relatively, it is cheaper and less stressful to hire the services of bookkeeping and payroll
service providers as against employing a qualified accountant. The truth is that, it is
common to find even bigger firms contracting their bookkeeping and auditing concerns to
competent financial / auditing firms because it is cost effective to do so.
Another notable trend in the financial consulting services industry is that in the last five
years, the industry has performed impressively as a large reduction in unemployment
boosted the revenue generated in the industry. So also, the financial consulting services
industry has benefited from the advancement of online and computer payroll and
bookkeeping services, with new cloud-based offerings providing a new revenue stream for
operators, and attracting new customers.
Going forward, increasing product penetration and of course an expanding customer base
is expected to drive growth in the industry.

 Our Target Market

The demographic and psychographics composition of those who need the services of
bookkeeping and payroll services providers cuts across both small businesses and large
corporations.
Chris Morgan Financial Consulting, LLC 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 bookkeeping and
payroll service firms in the United States.
As a standard and licensed bookkeeping and payroll service firm, Chris Morgan Financial
Consulting, LLC offers a wide range of financial consulting services hence we are well
trained and equipped to services a wide range of clientele base.
Our target market cuts across businesses of different sizes and industries. We are coming
into the industry with a business concept that will enable us work with the small businesses
and bigger corporations in and around Las Vegas – Nevada and other cities in the United
States of America.
Below is a list of the businesses and organizations that we have specifically design our
products and services for;

 Mom and Pop Businesses

 NGOs
 Blue Chips Companies
 Corporate Organizations
 Religious Organizations (Pilgrimage journeys et al)
 Political Parties / Politicians
 Hotels and Restaurants
 The Government (Public Sector)
 Schools (High Schools, Colleges and Universities)
 Sport Organizations
 Entrepreneurs and Start – Ups

Our Competitive Advantage

The level of competitions in the financial consulting services industry depends largely on the
location of the business and of course the niche of your financial consulting services. If you
can successfully create a unique brand identity for your bookkeeping and payroll services
firm or carve out a unique market, you are likely going to experience less competition.
For instance if you are one of the few bookkeeping and payroll firms in your locations that
also offer tax consulting and financial auditing services you are likely going to have a
competitive advantage over your competitors.
Although the competition in the bookkeeping and payroll services line of business is not just
within same service providers but also other financial consulting related service providers in
the financial consulting services industry. For example, it is now easier for you an auditing
firm to also handle bookkeeping and payroll services for its clients.
We are quite aware that to be highly competitive in the financial consulting services industry
means that we should be able to deliver consistent quality service, our clients should be
able to experience remarkable difference cum improvement and we should be able to meet
the expectations of clients.
Chris Morgan Financial Consulting, LLC might be a new entrant into the financial consulting
services industry in the United States of America, but the management staffs and owners of
the business are considered gurus. They are people who are core professionals and
licensed and highly qualified bookkeeping and payroll experts in the United States. These
are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be amongst
the best within our category (start – ups bookkeeping and payroll service providers) in the
industry meaning that they will be more than willing to build the business with us and help
deliver our set goals and achieve all our aims and objectives.
Bookkeeping Service Business Plan – SALES AND MARKETING STRATEGY
We are mindful of the fact that there is stiffer competition amongst bookkeeping and payroll
service providers and other related financial consulting service providers in the United
States of America; hence we have been able to hire some of the best business developer to
handle our sales and marketing.
Our sales and marketing team will be recruited 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 the organization. We will also ensure that our excellent job
deliveries speaks for us in the market place; we want to build a standard bookkeeping and
payroll service business that will leverage on word of mouth advertisement from satisfied
clients (both individuals and corporate organizations).
Our goal is to grow our bookkeeping and payroll consulting firm to become one of the top 20
bookkeeping and payroll firms in the United States of America which is why we have
mapped out strategy that will help us take advantage of the available market and grow to
become a major force to reckon with not only in the Las Vegas but also in other cities in the
United States of America.
Chris Morgan Financial Consulting, LLC 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, schools, households and key stake holders in Las Vegas
and other cities in Nevada.
 Promptness in bidding for financial consulting contracts from the government,
religious organizations and other cooperate organizations
 Advertise our business in relevant financial and business related magazines,
newspapers, TV stations, and radio station.
 List our business on yellow pages ads (local directories)
 Attend relevant international and local finance and business expos, seminars, and
business fairs et al
 Create different packages for different category of clients (start – ups and
established corporate organizations) in order to work with their budgets and still
deliver quality 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

Sources of Income
Chris Morgan Financial Consulting, LLC is established with the aim of maximizing profits in
the travels and tours 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.
Chris Morgan Financial Consulting, LLC will generate income by offering the following
financial consulting services for start – ups, NGOs and for corporate organizations;

 Provide Full-service payroll services

 Provide Payroll services sold separately
 Provide Billing services
 Provide Bookkeeping and compilation services
 Provide General accounting services
  Provide Tax planning and consulting services
 Provide Tax preparation and representation services
 Other financial consulting and advisory related services

Sales Forecast
One thing is certain, there would always be mom and pop shops, start – ups, NGOs and
corporate organizations who would need the services of professional bookkeeping and
payroll services providers.
We are well positioned to take on the available market in Las Vegas – Nevada and other
key cities in the United States of America and we are quite optimistic that we will meet our
set target of generating enough income / profits from the first six month of operations and
grow the business and our clientele base beyond Las Vegas to other cities in Nevada and
other states in the U.S.
We have been able to critically examine the financial consulting 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 projection is based on information gathered on the field and some
assumptions that are peculiar to startups in Las Vegas – Nevada.
Below is the sales projection for Chris Morgan Financial Consulting, LLC, it is based on the
location of our business and the wide range of financial consulting services that we will be
offering;

 First Year-: $150,000
 Second Year-: $350,000
 Third 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 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.

 Our Pricing Strategy

Hourly billing for financial consulting services is a long – time tradition in the industry.
However, for some types of financial consultancy services, flat fees make more sense
because they allow clients to better predict consultancy costs. As a result of this, Chris
Morgan Financial Consulting, LLC will charge our clients a flat fee for many basic services
such as bookkeeping and payroll services and business advisory services and tax
consulting et al.
At Chris Morgan Financial Consulting, LLC 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 financial
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

At Chris Morgan Financial Consulting, LLC our payment policy will be all inclusive because
we are quite aware that different people prefer different payment options as it suits them.
Here are the payment options that we will make available to our clients;

 Payment by via bank transfer

 Payment via online bank transfer
 Payment via check
 Payment via bank draft
 Payment with cash

In view of the above, we have chosen banking platforms that will help us achieve our plans
with little or no itches.
Bookkeeping Service Business Plan – 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 financial consulting services industry by storm which is why
we have made provisions for effective publicity and advertisement of our travels and tours
agencies.
Below are the platforms we intend to leverage on to promote and advertise Chris Morgan
Financial Consulting, LLC;

 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 Las Vegas – Nevada.
 Engage in road show from time to time
 Distribute our fliers and handbills in target areas
 Ensure that all our workers wear our branded shirts and all our vehicles are well
branded with our company’s logo et al.

Bookkeeping Service Business Plan – Financial Projections and Costing

Starting a bookkeeping and payroll services firm 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.
This is the financial projection and costing for starting Chris Morgan Financial Consulting,
LLC;

 The Total Fee for incorporating the Business – $750.

 The budget for basic insurance policy covers, permits and business license – $2,500
 The Amount needed to acquire a suitable Office facility in a business district 6
months (Re – Construction of the facility inclusive) – $40,000.
 The Cost for equipping the office (computers, software applications, printers, fax
machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) –
$ 5,000
 The cost for purchase of the required software applications (CRM software,
Accounting and Bookkeeping software and Payroll software et al) – $10,500
 The Cost of Launching your official Website – $600
 Budget for paying at least three employees for 3 months plus utility bills – $10,000
 Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) –
$2,500
 Miscellaneous: $1,000

Going by the report from the market research and feasibility studies conducted, we will need
over one hundred and fifty thousand (150,000) U.S. dollars to successfully set – up a
medium scale but standard bookkeeping and payroll services firm in the United States of
America.
Generating Funding / Startup Capital for Chris Morgan Financial Consulting, LLC
Chris Morgan Financial Consulting, LLC is a business that will be owned and managed by
Chris Morgan and his business partner Mark Lake. They are the sole financial of the firm,
but may likely welcome partners later which is why they decided to restrict the sourcing of
the start – up capital for the business to just three major sources.
These are the areas we intend generating our start – up capital;

 Generate part of the start – up capital from personal savings

 Source for soft loans from family members and friends
 Apply for loan from my Bank

N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft
loan from family members $10,000) and we are at the final stages of obtaining a loan facility
of $100,000 from our bank. All the papers and document has been duly signed and
submitted, the loan has been approved and any moment from now our account will be
credited.
Chris Morgan Financial Consulting, 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 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
 Conducting Feasibility Studies: Completed
 Generating part of the start – up capital from the founder: Completed
 Applications for Loan from our Bankers: In Progress
 Writing of Business Plan: Completed
 Drafting of Employee’s Handbook: Completed
 Drafting of Contract Documents: In Progress
 Design of The Company’s Logo: Completed
 Graphic Designs and Printing of Packaging Marketing / Promotional
Materials: Completed
 Recruitment of employees: In Progress
 Purchase of the Needed software applications, furniture, office equipment, electronic
appliances and facility facelift: In progress
 Creating Official Website for the Company: In Progress
 Creating Awareness for the business (Business PR): In Progress
 Health and Safety and Fire Safety Arrangement: In Progress
 Establishing business relationship with vendors and key players in the industry: In
Progress