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Free Bookkeeping Business Plan
If you are setting up a Bookkeeping business then it is wise for you to put in writing a Bookkeeping business plan. If you need finance for your company this will help you with it and even if you are fortunate to have sufficient capital to set up your own business then a business plan will be of assistance to you in your business approach. This will improve the likelihood of your business being a triumph, which cannot be a bad thing.
Your plan ought to consist of the following...
Bookkeeping Executive Summary
Your Bookkeeping executive summary should be written at the end (even though it should appear at the top of your plan) subsequent to you having done all the ground work in preparing your business plan - it is after all intended to be an outline of your business. This is the page that will grab the attention of the reader and make them value what your Bookkeeping business is concerning. By and large it should give the person who reads it 3 years highlights of your business or longer if you carry out a more long term business plan - i.e. when the backer(s) are apt to start seeing some yield on their investment. The Bookkeeping executive summary ought to point out the key protagonists who are ready to assist run the business and generate the profits for the investors and if any new management will be needed in the process. Click here for more free advice on how to write your executive summary.
Bookkeeping Objectives
As the executive summary customarily includes the breakdown of the first 3 years - your objectives should also be set out for your first 3 years of operation - this may be a small number or could be a great deal more exhaustive - it's entirely up to you, however having unrealistic goals to complete for your Bookkeeping business in an unrealistic timeframe will put likely investors off rather than them being impressed at your lofty objectives.Read more about business objectives.
Bookkeeping Mission
Various people see objectives and mission as identical things but they aren't - objectives are there for you to meet your mission. The final mission of any business should be to get bought out! If you can build your Bookkeeping business up to sell it whilst retaining a quantity of shares then you will have achieved success. To attain your final mission you will most likely require a quantity of smaller missions - these may well be to attract a certain amount of earnings, to attain a certain amount of clients, to trade a certain number of units of a product or service and your objectives are there to meet this mission.
Check out some of these example mission statements before you have a go at writing your own mission statement.
Keys to Success
You need to advise people how and why your Bookkeeping business is going to be a success - if you cannot think of anything to write here then you are doomed. Even if your answer is just that you are going to work harder than the next guy - then at least that is something...but you will need to back it up with some substantiation in particular if you are looking for investment in your Bookkeeping business.
Company Summary
Here you should write a basic configuration of your business over the next 3 years unless you have a long term plan.
Company Ownership
Merely write who is going to own the Bookkeeping business and allocation of share ownership and voting rights for and allocation of share ownership and voting rights for the shares - it is relatively regular for someone to have possession of part of a business but hold no say in how that company is run. You must express if the business is a limited company, private, public or if you are a one man band.
Not sure which business structure to go for?
Location(s) and facilities
Where is your Bookkeeping business going to be trading from and why are you going to be trading from this site - you may well not be able to give a pinpoint address at this early stage but you ought to narrow it down as much as you can, as obviously this will have a critical effect on your business. It is more often than not easy to get premises for any Bookkeeping business in particular in this climate with so many businesses going out of business, but getting the appropriate business premises for the right money is a different prospect completely.
Read more about business premises.
Start-up Summary for your Business
Before you start trading it's a good idea to have a business bank account and you are also going to have to choose a new name for your Bookkeeping Business.
Before you can push any products or services you need to record accurately all of the things you are going to need and if you are going to require any funds in order to pay for all of these items. You may well require to play down your start-up summary depending on your monetary condition - so you may desire selected Bookkeeping equipment however not be able to have enough money for it until you have sold a few units of product / service.
Bookkeeping Start-Up Costs
This is a upfront inventory of things you need to buy and things you can bring into the business if you already be the owner of them before your Bookkeeping business can start the ball rolling. If you do not have sufficient money you ought to also incorporate who is going to offer this investment to get your Bookkeeping business going.
Visit this page for more typical start up costs.
Bookkeeping Investment
If you don't have adequate capital you should bring in the complete investment you are going to require and additionally include the breakdown of the parties that are going to bankroll the investment. Include the equity being given away to fund this or loan agreements in order to finance the contract. Will you require a small business bank loan? If you cannot get a bank loan don't worry there are alternative methods for funding your Bookkeeping Business.
Bookkeeping Business Plan Page 2
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