Reference no: EM133163308
Business Plan for ROBINSON ASSOCIATES
Scope of the Business
Personal. I plan to start a business consulting service affiliated with USA consultants (a nationwide business consulting firm).
History of USA Consultant. USA is over 30 years old. It originated in Boston and Atlanta. It started out as P. Miller Management Consultants. The name changed to USA in 1972. Paul Miller III is the current president of USA, which has over 160 consultants in more than 50 cities.
Specific Areas of Focus
Company (Brochure Available on Request)
1. Analysis Phase
2. Implementation Phase (selected examples)
a. Marketing programs
b. Organization planning
c. Personnel training programs
d. Cost reduction programs
e. Loan package preparation
f. Inventory control systems
g. Financial control and reporting
h. Mergers and acquisitions
i. Strategic planning
j. Business evaluation
Personal. With my accounting background (CPA-inactive) and current experience consulting with small businesses, I would concentrate on:
1. Analysis phase
2. Implementation phase-especially on:
a. Organization planning
b. Loan package preparation
c. Strategic business planning
d. Financial control and reporting systems
3. USA continuing education programs in various areas in which I could update my skills.
Goals
Personal
1. I plan to begin the business July 1 and operate it part-time for three months. I will limit my hours to 32 per week. I will still be eligible for full-time benefits including health insurance and tuition remission. I will go into the business full-time starting October 1.
2. I plan to continue pursuing a Ph.D. in business administration. This is entirely compatible with the consulting business. (See attached projected cash flow statements).
Financial. I plan to reach the following cumulative gross billing goals:
|
Six months
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$22,500
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|
Twelve months
|
$86,500
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|
Eighteen months
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$137,000
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Twenty-four months
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$191,000
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Management Capability
See attached résumé
Strong Points
1. Four years of consulting experience with Small Business Development Centers.
2. Admitted to Ph.D. program at the university in business administration. Major: Management; minor: International Business, with current G.P.A. of 4.0, out of possible 4.0.
3. Accepted by USA. USA advertised in the Wall Street Journal, Inc., and USA Today. To date, they have received over 3,000 applications but approved only 158.
4. Education will be continued through schooling and USA's continuing education program.
Marketing
Competition
External:
1. Review of the Minneapolis-St. Paul Webb's Directory on Management consultants shows no direct competition.
2. Typically, consultants specialize in one to three areas. No firm can offer the wide range of services that USA can.
Internal: There are two other USA consultants in Minneapolis-St. Paul area. One started his business in December of last year, and the second is just starting. Both are on the Minneapolis side of the river. There appears to be plenty of room in the market for a third USA consultant.
Customer Analysis: USA billing rates are $125/hour to $300/hour. These rates will preclude very small businesses from using my services in most cases. The firms that appear to be best suited for using a USA consultant would be firms with 30 to 400 employees. These firms can be identified through the use of Webb's Directory and various other publications.
Reaching the Customers. There are three primary methods to reach customers:
1. Salespersons. USA will assist the consultant in hiring and training.
2. MAS services to small accounting firms. USA works with accounting firms that do not have an MAS department to provide them with consulting services.
3. Personal contacts. Extensive contacts have been developed on both sides of the river and will be used to assist in identifying potential customers.
Market Trends. Many businesses today are downsizing. Typically, the person that businesses are outpacing is in middle management. Businesses will still have the same problems as before. Businesses will then turn to a consultant to assist in solving these problems.
Questions for Business Plan for ROBINSON ASSOCIATES
o Does this business plan include all the major components? What additional information should be added to strengthen the plan?
o What part of the plan would impress a potential investor most favorably? What part seems weakest
o Under what conditions and circumstances is it not to your advantage to prepare a business plan?
Attachment:- Business Plan for ROBINSON ASSOCIATES.rar