Business plan Essay Example

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[Main Business Address]


Kelly’s Accountant]

Business Plan

Table of Contents

3The Business

3Business details

3Registration details

3Business premises

4Organisation chart

4Management & ownership

4Key personnel


8The Market

8Market research

8Market targets

8Your customers

9S.W.O.T. analysis

10Your competitors

12The Future

12Vision statement

12Mission statement


12Action plan

13The Finances

13Key objectives & financial review


14Start-up costs for [YEAR]

15Profit and loss forecast

16Expected cash flow

The Business

Business Details/registration and business premises

Kelly’s accountant is a small and accounting and tax preparation service that is owned by Kelly with the help of one senior analyst, one junior accountant and one administration individual in Melbourne Australia. The firm will offer tax accounting, QuickBooks set-up, management accounting as well as training for next small business clients. Additionally, to move beyond its original status, Kelly’s accounting firm aims at expanding its existing business services to encompass bookkeeping for small corporations. In this case, this will need investment in staff and marketing so as to grow the firm to incorporate complimentary business aspects (Luther, 33). Therefore, this business plan can organize and establish the tactics and organizational strategy that will ensure that Kelly’s accounting firm expands and set objectives for the upcoming three years.

Kelly’s accounting firm will provide accounting and bookkeeping services at a very affordable price. To realize this objective, Kelly will need help from two undergraduate bookkeepers and one graduate administration manager, promoting its services through online advertisement on their official website, and trying as much as possible to keep its fixed costs low.

Organisation chart

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[Mr Morgan Duane

Marketing Manager

[Mr James tucker

Office Manager]

[Mr. Chris Morgan

Management & ownership

Kelly is the owner and the CEO of Kelly’s accounting firm. Additionally, with the establishment and the launch of the bookkeeping services, this company will also need a senior accountant who will also help in overseeing the bookkeeping tasks. In this case, the senior manager will have to be MBA graduates who possess adequate professional work experience in accounting and bookkeeping services. A junior accountant who would preferably be just starting their MS accounting program will also be needed to help in the accounting services so that they may be considered for a full-time job immediately they complete their program. An administration manager will also be required in this firm to help with the administration matters of the enterprise.

Key personnel

Job title

Expected staff turnover

Skills or strengths

Bookkeeper manager

Mrs. Jennifer Lupita

12-18 months

Holds an MBA in accounting, three years’ experience in professional bookkeeping

Operations manager

Mr. Morgan Duane

12-18 months

Holds an undergraduate degree in business management, relevant experience as an operations manager

Senior Accountant

Mrs. Christine Willock

A graduate of MS accounting program, five years relevant experience as a professional accountant

Marketing Manager

Mr. James Tucker

12-18 months

Holds an MBA in marketing, a bachelor of commerce graduate and has five years professional experience in marketing, award winner in marketing and sales

Office Manager

Mr. Chris Morgan

12 -18 months

Holds a degree in office practice, three years work experience as an office administrator.




Tax services

Tax planning, preparation, addressing tax challenges and problems

Cost/management accounting services

Cost and margin analysis, audits, financial projection, credit card processing set up

QuickBooks Services

QuickBooks training tips via official web page, QuickBooks sales, and setup

The Market

Market research

After working for several years for Big Money Grabbers Accounting in Albury, I realized that there was a market gap when it comes to bookkeeping and accounting services as far as small firms are concerned. In other words, very many accounting firms focus on large corporations, which provide an opportunity for Kelly’s Accounting firm since it will be involved in delivering of so many accounting and cost management services to small organizations.

Your customers

Some of the potential customers include Non-employer firms seeking to establish their tax liability, small business corporations, and other accounting firms

Key customers

Kelly’s Accounting firm will concentrate on small business firms when it comes to bookkeeping services. Additionally, small businesses are believed to lack the necessary resources that may enable it to offer adequate training to its bookkeepers. Hence, Kelly’s firm will provide a solution to their problems.

S.W.O.T. analysis



  • Qualified Certified Public Accountants with relevant experience backed by a solid reputation in the accounting market

  • High client retention who in the process provide word of mouth advertisement of the firm

  • Highly qualified and experienced staff

  • Inability to establish billable hours during the off-season periods

  • Over-reliance on individual tax preparations hence resulting in lack of diversification as far as revenue resources are concerned


  • Benefiting from the population increase in Melbourne

  • Increasing levels of incomes of Melbourne’s population over age 60 who are believed to have retirement benefits but have issues with sophisticated tax planning

  • Increasing competition from new firms and other sole practitioners

  • Continued sophistication and software innovation reduces the demand for accounting professionals

  • Negative Individuals perceptions about accounting firms

Your competitors

Most of Kelly’s accounting firm competitors have been in the accounting business for a very long time. To improve on what they offer, Kelly’s accounting firm has seen to it that its products are differentiated such that they not only focus on tax management but they also provide accounting and cost management services.

Competitor details


Established date

Market share

Value to customers



Vawxdrey Axton Tuner

Over 40 years in accounting business

It has two major accounting offices

Helping customers to realize their financial objectives and achieve their dreams

A very strong brand name

Concentration on tax management(lack of service differentiation)

The Future

Vision statement

The primary purpose of Kelly’s accounting firm id to provide high-quality accounting and bookkeeping services both in content and appearance based on honesty, integrity, trust, profitability, enthusiasm and a well-cultivated culture of growth throughout the firm.

Mission statement

Kelly’s Accounting firm seeks to offer a full suite of management accounting and tax management for small corporations, and other accounting firms in Melbourne Australia by enabling the business owners to not only save money and resources but also to make profitable decisions when it comes to management


  • To slowly launch bookkeeping services starting with two accountants and an administration manager

  • To realize annual revenues greater than the current ones

  • To hire six more part-time bookkeepers in a span in the next 12-18 months

Action plan


Date of expected completion

Person responsible

Increase the number of staff members by 8

In the next 12-18 months

Operations Manager

Increase the net revenues by increasing service delivery

Marketing Manager

The Finances

Primary objectives & financial review

Financial objectives

  • To increase the net revenues by 50 percent from the current revenues in the next three years

  • To increase the average revenues by 20 percent in the next 12-18 months

Finance required

The amount needed to start this business is approximate $130000 that accrued as a result of personal savings worth $40,000 and $90,000 bank loan


  • Increase the number of part-time bookkeepers and accountants with the firm over the next two years.

  • During the first year, the two other analysts will be working for approximately 15 hours a week each for some months with the hope that two more bookkeepers will join during the year

Start-up costs for [YEAR1)

Start-up costs

Legal/Business Registration

Stationery and office supplies



Research and development

Business name


Marketing and advertising

Equipment/capital costs

Business purchase price

Franchise fees

Start-up capital


Computer equipment

Fax machine

Security systems

Profit and loss forecast

Profit and Loss statement

Total sales

Gross margin

Gross margin percentage





Software and computer expenses

Total expenses


Net profit (gross margin-total expenses)

Works cited

. New York: AMACOM, 2001. Print.The Marketing Plan: How to Prepare and Implement It Luther, William M.

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