2021

Business Plan

Nicole Allende
Nic’s Biz Credz
0 3/20/2021
1 TABLE OF CONTENTS
Confidentiality Agreement..............................................................................................................3
Purpose of the Business Plan...........................................................................................................4
1 Executive Summary.................................................................................................................5
1.1 Keys to Success.................................................................................................................6
1.2 Mission Statement.............................................................................................................7
1.3 Our Vision.........................................................................................................................7
1.4 Business Objectives..........................................................................................................8
1.4.1 Non-financial Objectives...........................................................................................8
1.4.2 Financial Objectives..................................................................................................8
2 Business Model Canvas............................................................................................................9
3 Company Summary................................................................................................................11
3.1 Company Location/ Proposed Location..........................................................................11
3.2 Services Description.......................................................................................................11
3.3 Pricing Strategy...............................................................................................................12
3.4 Management Team..........................................................................................................12
3.5 Operational Framework..................................................................................................12
3.5.1 Business System......................................................................................................12
3.6 Growth Plan....................................................................................................................12
4 Industry Analysis....................................................................................................................15
4.1.1 Target Market..........................................................................................................19
4.1.2 Market Segmentation for training and consulting services.....................................19
4.2 Market Opportunity.........................................................................................................19
4.3 Porters’ Five Forces Of Profitability...............................................................................21
4.3.1 Threats of New entrants...........................................................................................21
4.3.2 Threat of Substitutes................................................................................................21
4.3.3 Competitive Rivalry.................................................................................................22
4.3.4 Bargaining power of Buyers....................................................................................22
4.3.5 Bargaining power of suppliers.................................................................................22
4.4 Analysis of Competition.................................................................................................23
4.4.1 Competitive Advantages..........................................................................................23

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 4.5 Risk Analysis..................................................................................................................24
4.6 SWOT Analysis..............................................................................................................26
4.6.1 Strength....................................................................................................................26
4.6.2 Weaknesses..............................................................................................................26
4.6.3 Opportunities...........................................................................................................26
4.6.4 Threats.....................................................................................................................26
4.6.5 Weaknesses and Threats Mitigations.......................................................................27
5 Marketing And Sales Plan......................................................................................................28
5.1 Marketing Objectives......................................................................................................28
5.2 Marketing Strategies And Implementation.....................................................................28
5.3 Marketing Budget...........................................................................................................32
5.4 Sales Strategy..................................................................................................................33
6 Financial Plan.........................................................................................................................34
6.1 Startup Analysis..............................................................................................................34
6.2 Financial Overview.........................................................................................................34
6.3 Profit and Loss................................................................................................................35
6.4 Cash Flow Statement......................................................................................................37
6.5 Balance Sheet..................................................................................................................39
6.6 Break-even Analysis.......................................................................................................41

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 CONFIDENTIALITY AGREEMENT
The undersigned reader of the Nic’s Biz Credz Business Plan hereby acknowledges that the
information provided is completely confidential. Therefore, the reader agrees not to disclose
anything found in the business plan without the express written consent of Nicole Allende.

It is also acknowledged by the reader that the information to be furnished in this business plan is
in all aspects confidential in nature, other than information that is in the public domain through
other means and that any disclosure or use of the same by the reader may cause serious harm and
or damage to Nic’s Biz Credz.

Upon request, this business plan document will be immediately returned to Nicole Allende.

This is a business plan. It does not imply an offer of any securities.

This contract shall be governed by the laws of the state of New Jersey and any applicable Federal
law in the United States.

________________________ __________________________

Signature Printed Name

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 PURPOSE OF THE BUSINESS PLAN
This business plan is written to describe the business activities of Nic’s Biz Credz under the
management of Nicole Allende and to secure adequate investment in capital funding. The
acquired funds will provide adequate capital to acquire staff, increase marketing, and cover
operating expenses so that we can focus on making other businesses successful. We will also put
adequate marketing strategies in place to ensure that a large part of our target market is informed
about the availability of our consulting services and training programs and the benefits of
allowing us to serve them. We are poised to be successful and project revenue of $200,000 at the
end of the first business year.

The business plan is also intended to:

 Provide a blueprint for the business and provide details of its activities.

 Provide market insights that aid the feasibility study of the business and brew a new
market area.

 To highlight our operational plan, our vision and mission statements, the business
objectives, our products and services, market analysis, as well as the financial
projections, among other contents of the business plan.

4
1 EXECUTIVE SUMMARY
Nic’s Biz Credz is a New Jersey-based business consultancy that provides services that border on
Business Structure and Formation, Business Branding, Business Coaching, and Building
Business Fundability to receive business credit and funding. We offer bespoke business
management and consulting solutions to meet unique client’s expectations with a focus on cost-
effective solutions and business improvement.

Nic’s Biz Credz is a Startup Management Consulting Business that offers small businesses from
the minorities with the necessary tools and resources to jumpstart their business. We provide and
link startups with wraparound services and resources. Following successful funding of our
business expansion, we will feature business management programs to help our individual and
corporate clients find good footage in their chosen niches, help struggling businesses maintain a
good stand and grip, and help existing businesses have a good understanding of consistency in
excellent service delivery and how to achieve the same.

Nurturing a business to fruition in this modern day is often seen as a tasking job. The success or
failures of business can be linked to many factors that every entrepreneur must know if they
desire to be successful and not be forced out of business in no time. Often times, a touch of
professional advice from qualified and competent experts is all that stands between a successful
business and career and the not too successful ones. And as a company with vast expertise and
experience in business management consulting, we clearly cannot be a bystander and allow an
individual’s career, businesses, and corporations to crumble; hence, the establishment of our
company, Nic’s Biz Credz.

Nic’s Biz Credz has come to provide professional advice to entrepreneurs and organizations and
provide them with excellent business management service. As a boutique consulting firm, we
can provide optimum attention and satisfactory services to our clients as we are well-focused on
our service-offering. Our primary purpose is to provide access to industry-specific specialists and
subject matter experts who have in-depth knowledge in their various niche areas and industries.
We also have a good understanding of deficiencies within the team structure and other factors
and resources required for efficient business management and service delivery.

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Nic’s Biz Credz's target market is categorized into individual entrepreneurs and small to large
corporate organizations in the United States. The business targets financial and non-financial
institutions in emerging markets. We would be helping them plan for evolving competitive and
regulatory landscapes, manage risks, find innovative ways to optimize processes and reduce
back-office costs, among many other services.

Nicole Allende will be the lead driving force of the company. She will be in charge of the
management and operation of the company with a host of other experienced staff. Our
management team is made up of dedicated professionals who will bring the latest technology and
skills in the management consulting industry into use.

We are quite optimistic that our values and the quality of our service offering will help us drive
Nic’s Biz Credz to enviable heights and also help us attract clients that will make the business
highly profitable. We will be dedicated to establishing good business relationships with our
clients, giving them value for their money and reasons to hire our services. We will also leverage
word-of-mouth marketing and referrals alongside online marketing to keep clients in our location
informed about our services.

In a bid to optimize our potential and make room for proper service delivery, we seek an equity
investment of $50,000 with an anticipation of $100,000 in revenue in the first year of launch.

1.1 KEYS TO SUCCESS

 Excellent Management and Staff: We have a host of experienced professionals who
are experts in their various niches and industries. They are well trained and informed
of the latest developments in the management business consulting industry, and we
are confident of their excellent delivery of assigned tasks and responsibilities.
 Market Focus: We are strategically focused on the United States market. The
country houses many entrepreneurs, aspiring entrepreneurs, and business
organizations with more future investments. This presents limitless opportunity for
our expansion.
 Staying Updated: We ensure to stay updated on the latest trends and technologies in
the consulting industry to ensure that our clients are well trained and equipped for

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 successful ventures and are never disappointed in their expectations for excellent
service delivery and management service.
 Marketing: We put adequate effort into our marketing and advertisements to be
edged above all other competitors in the industry. Our marketing means will be
mainly traditional and digital media campaigns, with a special focus on word-of-
mouth advertisements.
 Versatility: With our vast array of skills, experience, and technical know-how, we
serve diverse sectors of industries and market niches. We provide expertise in every
particular field to improve performance and impact the bottom line of our clients. We
have an eye for business and personal improvement. Hence, our team is reinforced
through ample and continuous in-house training and development that works in the
industry.
 Quality Assurance: Our business process is augmented by our flair for 100% service
quality. In so doing, our quality assurance team assiduously ensure best practice,
adherence to business process, ascertain high performance and drive process
improvements.

1.2 MISSION STATEMENT

Our mission is to build generational wealth for small startup businesses by ensuring they have all
of the resources needed for their business to be successful. We aim to make our service available
to minority communities, to add jobs for not only our business but for other businesses in the
community. We want to build a cost-effective business consulting company with the highest
standard in terms of quality, principles, performance, and customer satisfaction.

1.3 OUR VISION

Our vision is to be a resource to small business owners in the United States and to assist business
owners grow their business and build financial freedom. We envision becoming a top company
offering nothing short of quality in management consulting services as we help individuals and
corporate entities actualize their dreams.

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1.4 BUSINESS OBJECTIVES

1.1.1 Non-financial Objectives

 To build a management consulting company that will be a force to reckon with in the
industry.
 To provide quality and expertise for our clients' management consulting needs.
 To provide economically viable solutions in a bit to improve productivity and impact the
bottom line of our clients.
 To create a work environment that fosters talents and inspires innovation.
 To keep abreast of the changing pulse of the niche market.
 To leverage advanced technology to offer cost-effective solutions and make our service
offering more comprehensive.
 To achieve 100% customer satisfaction and ensure project continuity for our clients.
 To recruit the best employees, provide them with training and development opportunities,
and empower them to ensure that we are best-in-class in our business activities.

 Continuously measure, monitor, and evaluate marketing metrics, loyalty programs, and
Sales KPIs to make tweaks, improvements, and refine processes.

1.1.2 Financial Objectives

 To raise $100,000 in capital funding.
 To achieve revenue of $200,000 in the first year and more in subsequent years.
 To attain breakeven in the first year of launch

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2 BUSINESS MODEL CANVAS
KEY PARTNERS KEY ACTIVITIES VALUE CUSTOMER CUSTOMER
PROPOSITION RELATIONSHIP SEGMENTS

 Top-quality  Individual
 Investors/Banks/Financia corporate training  Top-notch entrepreneurs
l lenders programs project  Office facility  Corporate
 Professional management in New Jersey. organizations
project consulting
management services  Company
consulting website
services  A good
 Advertising and collection of  Social
marketing competent staff networks:
activities with to be deployed
relevant agencies on service Facebook, Twitter,
request Instagram, Snapchat,
etc.
 Quality training
KEY RESOURCES CHANNELS
sessions

 Human  Direct sales in

 Non-restricted
resources: our office
training
facility
Experienced management sessions
team
 Webinars, and
 Timely delivery
other online

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  Other resources: of services training
platforms
Employee Management
 Excellent
System customer
Zoom, WebEx, Skype and service
Webinars
CRM Systems
Computers
Website
Mobile Phones
Social media presence
Internet access.
Cost Structure Revenue Streams

 Marketing  Consulting services

 Equipment and software purchase  Training services

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3 COMPANY SUMMARY
Nic’s Biz Credz is a Business Management Consulting company dedicated to re-shaping the
industry by providing high level expertise in business management consulting services for clients
in the public and private sector. Our effective hybrid consulting model which is committed to
ensuring clients’ needs are adequately and efficiently met will provide them with highly skilled
and top-quality business approaches and resources to guarantee successful corporate operations
between our company and its clients.

3.1 COMPANY LOCATION/ PROPOSED LOCATION

The company is a New Jersey registered company whose headquarters will be located at 320 S.
Harrison Street East Orange, NJ 07018. This location was chosen because it is the heart of the
United States with a large number of small businesses industry and as such, we will be closer to
our target market.

3.2 SERVICES DESCRIPTION

Nic’s Biz Credz is a Startup Management Consulting Business. We offer startup businesses with
the necessary tools and resources to jumpstart their business. We provide and link startups with
wraparound services/resources. Some of the resources that we offer are linkage to a business
attorney, CPA and financial advisor. Our services will include:

 Business Structure and Formation

 Business Branding
 Business Coaching
 Building Business Fundability to receive business credit and funding.
 Business Development
 Business Management
 Sales of digital products such as EBook.

We offer as an option a dedicated Virtual Assistant Services to jumpstart businesses. We provide

step by step instructions on how to structure businesses. We guide to build a strong foundation
for the businesses we service to become successful for the years ahead. We create strategic
individualized plans to ensure businesses are successful. We provide weekly coaching calls and
we are available to provide guidance and support unlimitedly via emails.

3.3 PRICING STRATEGY

We will offer value-based price for each service by charging clients and individuals a cost
effective and flexible prices for each service based on the capability of our team to deliver.

3.4 MANAGEMENT TEAM

The company is owned by Nicole Allende and it will be managed by her. Nicole Allende has one
year experience working in her own business structure. However, she has 18 years of experience
spearheading four nonprofit programs in NYC.

3.5 OPERATIONAL FRAMEWORK

3.5.1 Business System

In providing customer-centric business consulting services, Nic’s Biz Credz will uniquely
operate a sustainable and profitable business. This service can be requested by clients through a
signed statement of works which details service offering and agreed deliverables within key
services level agreement (SLA). Having requested for a specific consulting service, the
consulting fees will be paid and service will be delivered promptly.

In-house consultants will work directly with clients either onsite or remotely to deliver the scope
of works within agreed timelines whilst ensuring effective communication with clients. Service
delivery will be reviewed to ascertain customer satisfaction.

3.6 GROWTH PLAN

TIME MARKET ACTIVITIES STRATEGIES TARGET GOAL

PERIOD OBJECTIVES

Year 1 ● Initial ● Market ● Seek private ● Financing

&2 funding and Penetration investments through private
Investments ● Perform the funding
● Securing required activities ● Build client
necessary to obtain needed base
permits and license and ● Gain a
licenses professional remarkable
needed to accreditation market
operate ● Carry out market presence
● Develop a research, trends,
unique industry reports
database of and KPIs to build
key leads unique database
across our ● Training staff in
target service
market competencies
● Pitch service ● Conduct effective
to potential online and offline
clients marketing
● Focus on strategies
New Jersey ● Develop a well
Market optimized and
localized website
and portal
Year 3 ● Increase ● Service ● Improve on ● Ensure proper
&4 income Expansion existing processes functioning of
● Improve the ● Conduct regular our website
quality and training to ● Ensure
delivery of improve skillset increased
service of employees workforce
● Improve ● Reaching out to ● Ensure
efficiency more potential excellent
of clients service
employees ● Gain a remarkable delivery
market presence ● Establish a
through brand/network
aggressive
marketing
strategies
Year 5 ● Increase ● Market ● Reaching out to ● Increase our
& up sales development more service customer
● Increase ● Diversification areas segment
 customer ● Conduct market ● Expanding to
segment research to new markets
● Expand into determine the
more market needs
countries ● Increasing our
customer base
● Training staff in
service
competencies
4 INDUSTRY ANALYSIS
The Business Management Consulting industry also referred to as the Management Consulting
1
industry is a $250 billion industry is a client-driven industry that focuses in providing virtual
service across all aspects of business globally ranging from business operations, business
strategies, financial advisory, tax, human resources and internet technology.

The global management consulting market according to Statista recorded $274.86 billion in size
in 20182 and was projected to grow to $343.52 billion by 20253. The industry experiences huge
growth yearly due to internationalization and the growth of new segments such as design
thinking, digital and cybersecurity. Globally, operations, IT and financial advising amounted for
the largest consulting services, having more than double the strategy and human resources
markets4.

In 2019, the United States was the world's largest management consulting market. In that year,
management consulting services were valued at approximately 71.2 billion U.S. dollars. 5  Due to
the disruptive social, political and technological changes being experienced in the US currently,
a lot of organizations are being compelled to require services being offered by the industry to
help them face these challenges, adapt and transform quickly while maximizing opportunities.

Industry Segments 6
Based on service lines, the industry is segmented into
 Technology - 28%
 Finance & Risk - 15%
 Operations - 13%
 Strategy - 10%
 People & Change - 10%
Based on client industries, the industry is segmented into;
1
https://www.inc.com/soren-kaplan/the-business-consulting-industry-is-booming-and-it.html
2
https://www.statista.com/statistics/466460/global-management-consulting-market-size-by-sector/
3
https://www.globenewswire.com/news-release/2019/04/15/1803716/0/en/Management-Consulting-Services-
Market-to-Hit-343-52-Billion-by-2025-Adroit-Market-Research.html
4
https://www.consultancy.uk/consulting-industry/management-consulting
5
https://www.statista.com/statistics/1065188/management-consulting-market-size-country/
6
https://www.consultancy.uk/consulting-industry/united-kingdom
  Financial Services - 33%
 Public Sector - 21%
 Consumer or Industrial Products - 14%
Industry Trends7
 Increased Digitization – Businesses in the industry will shift their reliance on humans
for research, analysis, process and management as well as facilitation i.e., labor intensive
to digitization. This will impact their billing structure from its current time-based
business model i.e., billable hours into a flat-rate system.
 Political Structure –Business as they are concerned about the uncertainty in terms of
legislation i.e., demand of new hires, overall demand for services etc.
 Digital Integration – New technologies like cloud computing, software, social media,
and automation are used by companies in the industry to reduce costs and accelerate
growth.
 Recruitment Process – New online services are being used to perform research to
determine the best individual suited for a particular task. These new methods eliminate
the “who you know” aspect and referrals and reduces the act of hiring to pure expertise.
 Continued Education – With new skill sets being required for consultant and analysts to
meet the pace of technological change in the industry, individuals in the industry must
transition to a practice of constant education to remain relevant. New specific knowledge
areas include; big data analysis, data mining, data cleansing and data strategy.
 Multi-sourcing Mode – Companies in the industry work with niche firms and other
similar consultancies outside the industry, academics, digital agencies and technology
companies to carry out specific more effectively and efficiently.

According to Businesswire, the global management consulting market was valued at $977.3
billion in 2018, growing at a CAGR of 8.6% from 2014 and is expected to grow at a CAGR of
10.6% to nearly $1.46 trillion by 2022. 8  The increasing need for compliance with regulations,

7
https://linchpinseo.com/trends-in-the-management-consulting-industry/
8
https://www.businesswire.com/news/home/20190507005765/en/Management-Consulting-Global-Market-
Opportunities-Strategies-2022
operational efficiency, and technological advancements are contributing immensely to the
growth of the market. 9

Management consulting firms provide services which help the organizations improve their
efficiency. The firm analyzes the operations and understand the existing organizational
inefficiencies ranging from high cost of raw materials to HR policies in the organization. Post
which the firm uses its expertise develops a plan to tackle all the issues in the best possible way.
With growing competition in the market in various industries, profit margins are shrinking and
one of the best ways to improve the profits is through increasing the organizational performance.
Considering the wealth of experience these consulting firms bring businesses competing at the
highest level cannot afford to not have access to management consulting services.

Key Market Trends

Increased emphasis on understanding client's requirement

The biggest challenge management consulting firms face is the change in customer demands.
Over half of the firms in US have reported this as one of the major challenges which they
consistently face. The clients request for a particular information and when the information is
provided the client would want more or claim that the information provided was not what he
wanted. Occasionally such situations can boost the revenue of the company as they demand more
money for additional hours put in the report but often it hinders the business efficiency.
Considering the same, consulting firms are expected to improve their communication with
clients and eliminate re work of the project. 

Considering clients demands are becoming more complex, as competition increases resulting in
decreasing profit margins staying ahead of the market has become a paramount importance to the
clients. Hence, clients seek more information and this issue will continue to persist. Majority of
the clients will take measures to tackle the issue in next five years.

9
https://www.globenewswire.com/news-release/2019/04/15/1803716/0/en/Management-Consulting-Services-
Market-to-Hit-343-52-Billion-by-2025-Adroit-Market-Research.html
Growth of new market research market

The 'new' generation market research firms have grown in prominence in last decade. One of the
major factors being that management consultancy firms are fast becoming as expensive
proposition to partner with. The growth of 'new' research firms and availability of various
databases has resulted in the rise of business analytics tools. This has made it possible for
businesses to collect important and actionable data at fraction of a cost management consultancy
firms would charge. This could act as a huge disrupter in the management consultancy market. 

However, management consultancies still have their niche as majority of fortune 500 companies
would still prefer partnering with a management consultancy firm over a market research firm
citing credibility and the fact that these firms act as a one-stop destination for all their
consultancy needs ranging strategy consulting to legal consulting. The new research market is
growing 6.48% between 2013 and 2018 while Traditional research firms grew at 3.16% CAGR
during the same period.
4.1.1 Target Market
In offering cost-effective and customer-centric management consulting services, the target
market for Nic’s Biz Credz is the;

 Start-ups/ aspiring entrepreneurs

 Small and Medium-sized Enterprises (SMEs)

4.1.2 Market Segmentation for training and consulting services

The management consulting market is segmented into; Small Enterprise, Medium Enterprise,
Large Enterprise.10

 IT services
 Manufacturing
 Financial services
 Mining and oil & gas
 Construction
 Others

In 2018, the financial services industry was the largest end-use industry segment of the
management consulting market at 28.6%, while the IT services segment is expected to be the
fastest-growing segment going forward at a CAGR of 14.4%.11

Although Nic’s Biz Credz can offer training and consulting services to large enterprises, we will
focus more on Start-ups and small and medium-sized Enterprises. We know quite well that the
SMEs are the major contributors to economic growth.

4.2 MARKET OPPORTUNITY

Nic’s Biz Credz is ready to bring good innovations into the market and foster efficient
management and delivery of business processes in SMEs by thriving on its commitment to offer
only highly skilled staff and industry-specific experts in each service request.

10
https://www.prnewswire.com/news-releases/global-367-6-billion-corporate-training-market-analysis-
opportunities-and-forecasts-2017-2018--2019-2024--300971259.html
11
https://www.businesswire.com/news/home/20190507005765/en/Management-Consulting-Global-Market-
Opportunities-Strategies-2022
The global corporate training spending has maintained a consistent increase over the past years.
It was estimated at a sum of $366.2 billion in 2018. 12 According to Businesswire, the global
management consulting market was valued at $977.3 billion in 2018, growing at a CAGR of
8.6% from 2014 and is expected to grow at a CAGR of 10.6% to nearly $1.46 trillion by 2022. 13
However, owing to the impact of the COVID-19 pandemic, the global size of the management
consulting market is expected to decrease. Due to the short-term closure of some non-essential
businesses all over the country, demand in the industry is expected to experience some decline.
This has therefore forced many of the players in the industry to reduce the consultation fee, and
many are reducing the expenses they incur on the short term to benefit from this restructuring.

The bright side to the effect of the COVID-19 pandemic on management consulting market is
that there is greater opportunity to offer services to clients in the manufacturing, financial
services, energy, and healthcare sectors on the economic effect of the COVID-19 pandemic on
their operations and help them strategize on how to operate towards profitability efficiently.

With the growing market projection in the industry, Nic’s Biz Credz has come to introduce
strategies to stage a takeover of the industry. We will offer standard practice in the industry
alongside unique marketing and advertisement strategies that will provide us with leverage to
capture a good market share, some of which will include SEO marketing, newspaper
advertisements, blogging, and partnerships with many other marketing agencies. We are
passionate about our work and give our best to every session of our training programs and
consulting services. We will also make use of available technologies for our training programs to
overcome the distance barriers and reluctance that might be caused by the risk of contracting
coronavirus. We are ready to take advantage of the potentials in the United States market and
have a great share in the market through excellent service delivery.

12
https://trainingindustry.com/wiki/leadership/the-leadership-training-market/
13
https://www.businesswire.com/news/home/20190507005765/en/Management-Consulting-Global-Market-
Opportunities-Strategies-2022
4.3 PORTERS’ FIVE FORCES OF PROFITABILITY
We will assess the nature of the industry’s competitiveness using Porter’s Five Forces and
develop unique strategic decisions to operate a profitable business.

Threats of
New
Entrants
MEDIUM
Bargaining
power of
Buyers
MEDIUM
Competitive
Rivalry
HIGH
Threats of
Substitutes
MEDIUM
Bargaining
power of
Suppiers
LOW

4.3.1 Threats of New entrants

The threats of new entrant are considerably MINIMAL as the industry requires professionalism
and experience in delivering best practice while it requires low capital investment on a low scale.
However, advances of artificial intelligence with a potential to replace management consultants
and potential of digital platforms and AI in the training landscape will pose a low threat of new
entrants in the niche market. We will stay informed in the market to maximize the opportunities
in trends.

4.3.2 Threat of Substitutes

Threats of substitutes is considered MINIMAL because the only possible substitute comes from
internal in-house training and consulting. This is, however, considered to be expensive and affect
business core competencies. We will differentiate our business in the industry by offering highly
skilled staff and trainings affording our clients the opportunity to focus on their core
competencies and customer-centric service through creativity and good use of modern
technologies. Apart from these, we will offer competitive prices, excellent customer approach,
and dynamic sales strategies, among others.

4.3.3 Competitive Rivalry

The competitive rivalry is considered HIGH owing to growing urbanization and increasing
disparity of skills and jobs which has resulted in a growing number of competitors and their
fierceness. This has caused reduction in business profitability. Nic’s Biz Credz will differentiate
its business in the niche market through professionalism, quality service delivery, unique
methodologies i.e. market research and market insights, employing advanced technology in the
industry to offer services to our ideal customers, employ effective marketing strategies to stay
ahead in the niche market, stay abreast with information about the competitors and their
strategies, employ dynamic business model, offer flexible payment model and highly skilled staff
to increase retention rate and subsequently revenue, etc.

4.3.4 Bargaining power of Buyers

The bargaining power of buyers is quite MINIMAL, but it is increasing because of low
switching costs between training and consulting firms. Large buyers have strong buying power
because they have the option of offering sustained business to the consulting firms. Nic’s Biz
Credz will employ smart business strategies to stay on top of our business domain, turning
our customers into effective advocates for our brand. Also, we will ensure to have competitive
pricing to win the interest of our potential clients.

4.3.5 Bargaining power of suppliers

Bargaining power of suppliers is considerable LOW as there is diffusion of suppliers and the
will power of the suppliers is limited with low switching costs.
4.4 ANALYSIS OF COMPETITION
Our competitors are other business management companies that offer the same services. Nic’s
Biz Credz will compete ethically in the marketplace and formulate strategic plans that will
stimulate differential advantages for growth and business sustainability.

4.4.1 Competitive Advantages

 Onsite and remote work options

 Professionalism
 Unique methodologies
 Best practice and quality assurance

 Innovative and cost-effective solutions for training

 Unparalleled service delivery

 World-class training facilities and well-refined curriculum for training programmes

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4.5 RISK ANALYSIS
This section identifies and analyses the likelihood of potential risks that may impede the growth
of Nic’s Biz Credz in the course of its business operation. We will proactively and constantly
examine potential challenges and manage them through thorough risk management approach to
ensure that we achieve our key business initiatives.

Risk Type Description Mitigation Strategy

Market Low brand recognition and low  Recruiting expert and professional
Risk conversion rate (low consultants versed in the latest and
acquisition of users) of our various skill sets.
service to reach its potential  Enter new markets to acquire more clients
target audience. and promote the brand
 We will provide a wide range of solutions
for our clients
Competitive The likelihood of not reaching  Tapping into the needs of the target
Risk our goals (declining sales market; understanding their specific needs
revenue and margin) due to and developing a unique selling
competitive forces in the proposition for differentiation
marketplace. Competition may  Improved customer service to build loyal
be from direct or indirect clients
competitors from either  Employ effective marketing strategies to
emerging and major player in attract new clients
the industry both globally and  Conduct regular competitor analysis
in the US  Base decisions on robust research and
figures
 Adopt diversification of strategy in a
volatile market situation
 Build networks and spur strategic
partnership
 Employ advanced technology
Operational This is the likelihood of not  Employing high quality, experienced and

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Risk meeting the expectation of expert consultants. Background check,
corporate clients and private employment history verification etc. will
individuals such as inadequate be conducted for new employees
resources, lack of information,  Improved communication to build good
lack of motivation, budget relationship with clients and individuals
overrun, etc.  Increase focus on compliance to
stakeholders
 Modularization of services
 Full disclosure and estimation of costs and
all charges during contract negotiation
 Adopting efficient quality assurance
standards to ascertain the company is
working at an optimum level and
producing top notch results
Financial Insufficient funding to operate  Maintain a higher degree of flexibility
Risk at an expected level and  Adopt diversification strategies
maintain a solidbusiness  Practice proper and strategic cash flow
operation. Loss of profit, poor management
cash flow, low sales  Create a budget that factors in overhead
costs and reduce expenses
 Adopt ideal pricing strategy

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4.6 SWOT ANALYSIS
Nic’s Biz Credz will conduct a thorough SWOT analysis in the competitive environment to
build the organization’s strengths, maximize opportunities, reverse weaknesses, and overcome
threats by acquiring vital information to develop strategic planning for a thriving and sustainable
business.

4.6.1 Strength

 Expertise
 Integrity
 Innovation
 High-quality service
 Excellence
 Multiple revenue streams
 Adoption of technology and system for cost-effectiveness

4.6.2 Weaknesses
 Limited fund for business operation
 Low brand recognition

4.6.3 Opportunities
 Growing diversity in learning requirements at the workplace
 The growing urban and working population
 The focus of companies on enhancing the skills of employees
 Growing urbanization
 The increasing disparity of skills and jobs
 The emergence of cost-effective e-learning training modules
 The need for operational efficiency, compliance with regulations, and technological
advancements

4.6.4 Threats

 Government policies

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  Economic downturn: This may shrink the spending behavior of the target market and
as a result leads to low sales and profitability
 Emergence and growth of freelance consulting industry and in-house consulting
groups 
 Legal and regulatory issues
 Democratization of knowledge
 The emergence of new and giant competitors

4.6.5 Weaknesses and Threats Mitigations

 Seek investment funding of $50,000 to cover for marketing, working capital, etc.
 Modularization of services
 Adoption of value-oriented revenue model
 Increased focus on technology advisory
 Focusing on expanding portfolio through collaborations
 Expanding advisory services to small and medium social enterprises
 Expanding in other strategic locations and emerging markets

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5 MARKETING AND SALES PLAN

5.1 MARKETING OBJECTIVES

 To build brand awareness
 To increase sales at a significant margin
 To grow and improve client base
 To enhance customer relationship

5.2 MARKETING STRATEGIES AND IMPLEMENTATION

To achieve our business objectives, we will employ and implement sustainable online and offline
marketing strategies to enhance visibility, productivity and business growth. Nic’s Biz Credz
will use the following strategic plans to attract and retain clients while increasing sales and
revenues;

OFFLINE ONLINE
 Partnership and network  Website Improvement
 Event Marketing  Search Engine Optimization (SEO)
 Word of Mouth Marketing  Social Media Marketing
 Print Media  Content Marketing
 Email Marketing
 Targeted Ads
ACTION: Partnership and Networking
TIMEFRAME: This should be constantly.
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Partnership  Spur strategic partnership with  Reach more clients and
and corporate organizations, businesses, increase client base
Networking schools, etc. who require our  Drawing on a wider pool of
services technical expertise
 Build and maintain a sustainable  Make presentations that will
relationship capacity outline our service
 Increase network on social media deliveries

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  Attend relevant international and  Give clients an avenue to
local conferences expos, seminars, connect with us, make
and business fairs to network, learn inquiries and make
new technologies and participate in assessment based on our
workshops. pitch.
 Join relevant associations to acquire  Achieving genuinely earned
valuable information on industry organizational reputation
trends and also share personal and greater credibility
progress
ACTION: Online Presence
TIMEFRAME: This should be done at least within the first four (4) weeks of plan
execution.
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Website  Build a stronger brand
 Social Media  Develop an optimized company  Increase credibility
Accounts website with direct WhatsApp and  Brand visibility
 Listings and inquiry form which will serve as a
 Increase communication
Directories vital marketing outlet allowing us to
and interaction
describe our services, outline
 Increase sales leads
business process and provide
 Increase sales revenue
contact information
 Boost website traffic
 Integrate it with appealing designs,
 Faster word of mouth
features, and contents for massive
 Accumulate emails from
traffic
regular clients to promote
 Creating and maintain active Social email marketing.
Media platforms on – Facebook,
Instagram, Twitter, YouTube, etc.
 Creation of Business to Business
using LinkedIn
 Listing on online directories and
listings such as Google My

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 Business, Finelib, etc.
 Build an email list
ACTION: Content Creation
TIMEFRAME: This should be done at least twice a week
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Website  Creative use of keywords that  Increase brand awareness
 Social Media match our service offering  Improved brand loyalty
Accounts  Testimonials from organizations we  Higher conversion rate
 Listings and have worked with will be added on  Better ranking of website.
Directories the website  Better visibility through
 Regular update our pages with organic searches on search
educating information and contents engines.
about the culture of our company  Increased traffic on website
and benefits in outsourcing for  Better customer satisfaction
potential clients
 Use a social media integration
platform to organize all our media
accounts to promote effective
engagements

ACTION: Email Campaigns

TIMEFRAME: This should begin after the first month of marketing plan execution.
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Across  Build an email list from our existing  Better participation
contact clients and purchase relevant list of  Improved engagement
points. our target clients from dealers  Reinforced credibility
 Gathering database and emails of
website visitors and customers.
 Develop intriguing contents and
progress updates
 Keep subscribers up to date with the
latest happenings and promote

30
 events
 Integrating social sharing buttons
into emails
ACTION: Google Ads; Social Media Ads; Online Reviews.
TIMEFRAME: This should be done quarterly and be reviewed constantly.
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Google page.  Setting up a Google Ads  Build strong brand
 Social Media account/grants awareness
Accounts.  Creating Ads (Video, Image or  Increased engagement.
 Other Web text).  Improved visibility of the
pages as  Post Ads on platforms. brand.
suggested by  Targeted contents to
Google. specific demographics
ACTION: Print Materials; Signage.
TIMEFRAME: This should be done continuously and subject to review at least, twice a
year.
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Signage  Printing of materials with  Convey the uniqueness,
 Brochures company’s name, logo, contact professionalism and
 Flyers information and description. competence of our service

 Flex banner  Mailing of print materials to target  Establish business authority

audience. and credibility
 Distribution and placement of  Increase brand awareness
materials at strategic points.  Improved brand popularity
 Business visibility
 Build Trust
 Increased website traffic.
ACTION: Word of Mouth/Referral
TIMEFRAME: This should be done continuously and subject to review at least quarterly
in a year
CHANNELS WHAT IS INVOLVED EXPECTED RESULTS
 Online.  Website visitors will be requested  Increase brand awareness

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 Offline. to make referrals and reputation
 Craft a compelling narrative  Increase marketing reach
 Keep clients satisfied by delivering  Improved brand exposure
excellent jobs and satisfying  Increased number of
service. returning clients and new
 Providing quality service from clients from referrals
highly experienced and dedicated
staffs

5.3 MARKETING BUDGET

Marketing Type Description Cost per Month
($)
Website Maintenance Costs of hiring professionals to upgrade
website
Creation of Online Presence. Social media marketing
Search Engine Optimization Costs for hiring a freelancer to perform the
(SEO). task.
Email marketing. Costs of getting email lists and sending mails
Google Ads; Social Media Ads; Total cost for ads on every platform used.
Online Reviews.
Print Materials; Signage. Cost design, printing, and distribution.
Total

5.4 SALES STRATEGY

 Referral - We will improve brand awareness, attract prospective clients and increase
retention rate by adopting referral programs; there will be a special incentive for every client
that recommends our services to their networks.
 Direct Mail and E-Mail Campaigns – this will be done through our email list to ensure that
our target market is aware of our presence

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 Discount - we will offer discounted rates to increase awareness about our business and also
attract the needed clients to our business i.e., early bird discounts, loyal customer discounts,
custom offer for retargeting visitors, new visitors with special offer, seasonal discounts,
holiday discounts etc.
 Customer Loyalty Programs: We will offer customer loyalty programs, such as a certain
percentage for every order when prospective clients enter their email on the company
website, extend special offerings for large amounts, offer discounts for first order and
referrals etc.
 Service Delivery – we will reply to messages from clients promptly as well as carry out
projects efficiently and effectively to translate into repeat business

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6 FINANCIAL PLAN
The following section contains the financial information for Nic’s Biz Credz. Tables and charts
show annual projections for the first five business years.

6.1 STARTUP ANALYSIS

       
     
Nic’s Biz Credz
  Startup Expenses
 
  Capital Expenditure Cost
  Startup Expenses $
100,000
  Total Startup Expenses $ 100,000
  Owner's Investment $ -
  Investors' Fund $ 100,000

6.2 FINANCIAL OVERVIEW

Below is the financial overview showing the profitability of the business as the sales increases
with little change in the cost. The profit is seen to increase with sales.

Financial          
Overview
  Year 1 Year 2 Year 3 Year 4 Year 5
Total Revenue $ $ 240,000 $ $ 345,600 $ 414,720
200,000 288,000
Total Expenses $ $ 42,936 $ $ 46,207 $ 48,092
41,520 44,494
Net Profit $ $ 184,511 $ $ 280,322 $ 343,274
148,385 227,995

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 Financial Overview
$500,000
$400,000
$300,000
$200,000
$100,000
$-
1 2 3 4 5
Year

Total Revenue Total Expenses Net Profit

35
6.3 PROFIT AND LOSS
The below table is the profit and loss projection for the first five business years. The sales are
seen to increase each year, causing a considerable increase in the net profit too.

Profit and Loss          

  Year 1 Year 2 Year 3 Year 4 Year 5

  $ $ $ $ $
Sales

Total Sales 200,000 240,000 288,000 345,600 414,720

Total Cost of Sales 0 0 0 0 0

Gross Margin
200,000 240,000 288,000 345,600 414,720
Gross Margin % 100.00% 100.00% 100.00% 100.00% 100.00%

Operating Expenses
Website 1,200 1,200 1,200 1,200 1,200
Rent 23,760 23,760 23,760 23,760 23,760
Phone 2,160 2,376 2,614 2,875 3,162
Office Supply 6,000 6,600 7,260 7,986 8,785
Insurance 2,400 2,400 2,400 2,400 2,400
Advertising 6,000 6,600 7,260 7,986 8,785
Total Operating Expenses 41,520 42,936 44,494 46,207 48,092

Operating Income
158,480 197,064 243,506 299,393 366,628
Operating Margin 79.24% 82.11% 84.55% 86.63% 88.40%

EBITDA
158,480 197,064 243,506 299,393 366,628
Depreciation and Amortization 0 0 0 0 0
Interest Expense 0 0 0 0 0
Tax Incurred (6.370% Income 10,095 12,553 15,511 19,071 23,354
Tax)

Net Profit $ 148,385 $ 184,511 $ 227,995 $ 280,322 $ 343,274

Net Profit/Sales % 74.19% 76.88% 79.16% 81.11% 82.77%

From the above analysis, it is projected that the business will have a total revenue of $200,000 in
the first year of business activities. Every business always aspires to increase its sales. With the

36
marketing strategy adopted, it is assumed that this will yield an increase in the subsequent years
of business operations, thereby, causing the revenue for each year to increase too.

The volume of revenue influences the profit that will be made during the year, therefore revenue
generated in the course of running the business results in an increase in profit made by the
business after taking care of all expenses.

Chart: Profit and Loss

Net Profit
$343,274
$350,000
$280,322
$300,000
$227,995
$250,000
$184,511
$200,000 $148,385
$150,000
$100,000
$50,000
$-
Year 1 Year 2 Year 3 Year 4 Year 5

37
6.4 CASH FLOW STATEMENT
Below is cash flow statement projection for five years showing the movement of cash within the
business. The owner seeks $100,000 from investors (for a dividend of 10%) for the business
funding.

Cash Flow          
  Year 1 Year 2 Year 3 Year 4 Year 5
  $ $ $ $ $
Cash From Operations
Cash Sales
200,000 240,000 288,000 345,600 414,720
Subtotal Cash From
Operations 200,000 240,000 288,000 345,600 414,720

Additional Cash Received

Owner's Investment 0 0 0 0
-
Investor's Fund 0 0 0
100,000
New Long-term Liabilities 0 0 0 0 0
Sales of Other Current 0 0 0 0 0
Assets
Sales of Long-term Assets 0 0 0 0 0
New Investment Received 0 0 0 0 0
Subtotal Cash Received
300,000 240,000 288,000 345,600 414,720

Expenditures Year 1 Year 2 Year 3 Year 4 Year 5

Expenditures from
Operations
Total Cost of Sales 0 0 0 0 0
Total Operating Expenses
41,520 42,936 44,494 46,207 48,092
Interest Expense 0 0 0 0 0
Tax Incurred
10,095 12,553 15,511 19,071 23,354
Subtotal Spent on
Operations 51,615 55,489 60,005 65,278 71,446

Additional Cash Spent

Other Liabilities Principal 0 0 0 0 0
Repayment

38
 Long-term Liabilities 0 0 0 0 0
Principal Repayment
Startup Expenses 0 0 0 0
100,000
Purchase Long-term 0 0 0 0 0
Assets
Investors' Dividend
14,838 18,451 22,800 28,032 34,327
Owner's Drawing 0 0 0 0 0
Subtotal Cash Spent
166,454 73,940 82,804 93,310 105,773

Net Cash Flow $ $ $ $ $

133,546 166,060 205,196 252,290 308,947
Cash Balance $ $ $ $ $
133,546 299,606 504,802 757,091 1,066,038

Chart: Cash Flow

Cash Flow
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$-
1 2 3 4 5

Year

Net Cash Flow Cash Balance

The graph above shows an upward movement of closing cash balance which indicates that there
is an increase in cash balance at the end of every period.

39
6.5 BALANCE SHEET
Below is the financial forecast of the balance sheet for the business. The below table shows the
steady growth in the net worth of the organization, this shows that the business is a very
profitable one.

Table: Balance Sheet

Balance Sheet            

  Starting Bal. Year 1 Year 2 Year 3 Year 4 Year 5

  $ $ $ $ $ $
Assets            

Current Assets
Cash - 299,606 504,802 757,091 1,066,038
133,546
Other Current 0 0 0 0 0 0
Assets
Total Current - 299,606 504,802 757,091 1,066,038
Assets
133,546

Long-term Assets
Long-term Assets 0 0 0 0 0 0
Accumulated 0 0 0 0 0 0
Depreciation

Total Long-term 0 0 0 0 0 0
Assets
Total Assets - 133,546 299,606 504,802 757,091 1,066,038

Liabilities and
Capital

Current Liabilities
Accounts Payable 0 0 0 0 0 0
Current Borrowing 0 0 0 0 0 0
Other Current 0 0 0 0 0 0
Liabilities
Subtotal Current 0 0 0 0 0 0
Liabilities

Long-term 0 0 0 0 0 0
Liabilities
Total Liabilities 0 0 0 0 0 0

Paid-in Capital 0 0 0 0 0 0

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Retained Earnings 0 332,896 560,891 841,213 1,184,487
148,385
Earning 0 148,385 184,511 227,995 280,322 343,274
Total Capital - 299,606 504,802 757,091 1,066,038
133,546
Total Liabilities and - 133,546 299,606 504,802 757,091 1,066,038
Capital

Net Worth $ - $ 133,546 $ 299,606 $ 504,802 $ 757,091 $ 1,066,038

Chart: Net Worth

Net Worth
$1,066,038

$757,091

$504,802

$299,606
$133,546

1 2 3 4 5
Year

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6.6 BREAK-EVEN ANALYSIS
Break-even is the point where the business neither makes profit nor loss. This means that at
break-even, the business is only able to pay up its expenses both fixed and variable cost without
any excess. The essence of break-even is to determine the number of sales that could lead to
profitability

Breakeven Analysis          

  Year 1 Year 2 Year 3 Year 4 Year 5

Fixed cost $ 41,520 $ 42,936 $ 44,494 $ 46,207 $ 48,092
Variable Cost % 0.00% 0.00% 0.00% 0.00% 0.00%
Gross Margin % 100.00% 100.00% 100.00% 100.00% 100.00%
Break Even $ 41,520 $ 42,936 $ 44,494 $ 46,207 $ 48,092
Income
Revenue $ 200,000 $ 240,000 $ 288,000 $ 345,600 $ 414,720

The business is seen to break the even in the first year of business activities. This means that
there must be more than $41,520 worth of sales yearly before any profit can be recorded. The
above analysis can be seen in the below graph showing the breakeven income and revenue.

Breakeven Curve
$414,720
$345,600
$288,000
$240,000
$200,000

$41,520 $42,936 $44,494 $46,207 $48,092

1 2 3 4 5
Year

Break Even Income Revenue

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