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1.0 Executive Summary
The purpose of this business plan is to raise $50,000 for the development of a career counseling service while showcasing the expected financials and operations over the next three years. Career Counselor, Inc. (“the Company”) is a New York based corporation that will provide career counseling services to teenagers in its targeted market. The Company was founded by John Doe.
1.1 Operations
As stated above, the business intends to provide career counseling focused on academic services to high school students. The Company, via independent contractors, will employ college students and teachers with a broad scope of academic knowledge with a focus on career counseling.
The Company intends to provide these services from the comfort of the customers’ homes rather than developing a formal facility. At the onset of operations, Mr. Doe intends to develop referral relationships with area schools, guidance counselors, and tutors in order to generate immediate revenues.
The third section of the business plan will further describe the services offered by the Career Counselor.
1.2 The Financing
Mr. Doe is seeking to raise $50,000 from as a bank loan. This business plan assumes that the business will receive a 10 year loan with a 9% fixed interest rate. The financing will be used for the following:
Financing to develop the Company’s office location.
Financing for the first six months of operation.
Capital to purchase a company vehicle.
Mr. Doe will contribute $10,000 to the venture.
1.3 Mission Statement
Career Counselor, Inc.’s mission is to become the recognized local leader in its targeted market for career counseling services.
1.4 Management Team
The Company was founded by John Doe. Mr. Doe has more than 10 years of experience in the career counseling industry. Through his expertise, he will be able to bring the operations of the business to profitability within its first year of operations.
1.5 Sales Forecasts
Mr. Doe expects a strong rate of growth at the start of operations. Below are the expected financials over the next three years.
1.6 Expansion Plan
The Founder expects that the business will aggressively expand during the first three years of operation. Mr. Doe intends to implement marketing campaigns that will effectively target individuals within the target market.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Career Counselor, Inc. The Company is registered as a corporation in the State of New York.
2.2 Required Funds
At this time, the Career Counselor requires $50,000 of debt funds. Below is a breakdown of how these funds will be used:
2.3 Investor Equity
Mr. Doe is not seeking an investment from a third party at this time.
2.4 Management Equity
John Doe owns 100% of Career Counselor, Inc.
2.5 Exit Strategy
If the business is very successful, Mr. Doe may seek to sell the business to a third party for a significant earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on behalf of Career Counselor, Inc. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings.
3.0 Operations
Career Counselor, Inc. will provide its students and enrolled colleagues with a plethora of services that relate to proving comprehensive advice as it relates to providing individuals with advice as it pertains to finding a career that is most suitable for them given their level of education and work background. The Company will generate fees on a per hour basis from the ongoing charges as it relates to providing these services to the general public.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
This section of the analysis will detail the economic climate, the career counseling industry, the customer profile, and the competition that the business will face as it progresses through its business operations.
Currently, the economic market condition in the United States is moderate. Unemployment rates have declined while asset prices have risen substantially. As such, the demand for career counseling will remain strong for the foreseeable future.
4.2 Industry Analysis
Specialized tutelage (including outsourced career counseling advice) outside of an accredited institution is a substantial industry in the United States. Currently, there are 5,500 organizations that provide educational programs that are not offered as part of a regular curriculum. Among these businesses aggregate revenues have exceed $2 billion dollars per year for each of the last five years.
4.3 Customer Profile
The Career Counselor’s average client will be a middle to upper middle class family with children that require career counselor services living in the Company’s target market. Common traits among clients will include:
Has a family with two children
Annual household income exceeding $50,000 per year
Is seeking to provide their children with assistance for advanced career counseling advice.
4.4 Competitive Analysis
This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages. If there are a number of competitors in the same industry (meaning that it is not feasible to describe each one) then showcase the number of businesses that compete with you, and why your business will provide customers with service/products that are of better quality or less expensive than your competition.
5.0 Marketing Plan
Career Counselor intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of Career Counselor, Inc.
5.1 Marketing Objectives
Develop an online presence by developing a website and placing the Company’s name and contact information with online directories.
Implement a local campaign with the Company’s targeted market via the use of flyers, local newspaper advertisements, and word of mouth advertising.
Establish relationships with schools, guidance counselors, and teachers within the targeted market.
5.2 Marketing Strategies
Mr. Doe intends on using a number of marketing strategies that will allow Career Counselor, Inc. to easily target families with high school aged and college bound teenagers within the target market. These strategies include traditional print advertisements and ads placed on search engines on the Internet. Below is a description of how the business intends to market its services to the general public.
Career Counselor will also use an internet based strategy. This is very important as many people seeking local services, such as outsourced career counselors, now the Internet to conduct their preliminary searches. Mr. Doe will register the Career Counselor with online portals so that potential customers can easily reach the business. The Company will also develop its own online website which will showcase the services offered by the Career Counselor, its advisors, preliminary pricing information, and relevant contact information.
The Company will maintain a sizable amount of print and traditional advertising methods within local markets to promote the outsourced career counseling that the Company is selling. Finally, Mr. Doe will work closely with local area schools, guidance counselors, and teachers for referrals.
5.3 Pricing
In this section, describe the pricing of your services and products. You should provide as much information as possible about your pricing as possible in this section. However, if you have hundreds of items, condense your product list categorically. This section of the business plan should not span more than 1 page.more than 1 page.
6.0 Organizational Plan and Personnel Summary
6.1 Corporate Organization
6.2 Organizational Budget
7.0 Financial Plan
7.1 Underlying Assumptions
The Company has based its proforma financial statements on the following:
Career Counselor will have an annual revenue growth rate of 16% per year.
The Owner will acquire $50,000 of debt funds to develop the business.
The loan will have a 10 year term with a 9% interest rate.
7.2 Sensitivity Analysis
The Company’s revenues are moderately sensitive to changes in the general economy. To many parents, their children’s career counseling are an absolute necessity, and only a more severe economic recession would result in a lower revenue base for the business. Additionally, Mr. Doe will strive to keep the costs of his Company’s services low, and as such, the business will be able to thrive despite deleterious economic conditions.
7.3 Source of Funds
7.4 General Assumptions
7.5 Profit and Loss Statement
7.6 Cash Flow Analysis
7.7 Balance Sheet
7.8 Breakeven Analysis
7.9 Business Ratios
