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Free VC Directory

With any B-Plan Purchase
425 Page Capital Directory
Through Oct. 31


Business Plan Writer
$425 Flat Rate
No Templates Used
7 Day Turnaround

All Purchased Plans
Are Updated for 2017

Business Startup Guides
Checkout our new sister site!

Free Paralegal Firm Business Plan
For Raising Capital from Investors, Banks, or Grant Companies!

Please note that the financials in this complete free business plan are completely fictitious and may not match the text of the business plan below. This free business plan demonstration purposes only. If you are interested in purchasing the completed editable MS Word and Excel documents for this business plan, please click the button below! Also, the text of the business plan is formatted with a fully automated table of contents.



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It should be noted that there is no special software required to use these templates. All business plans come in Microsoft Word and Microsoft Excel format. Each business plan features:

  • Excecutive Summary
  • Company and Financing Summary
  • Products and Services Overview
  • Strategic Analysis with current research!
  • Marketing Plan
  • Personnel Plan
  • 3 Year Advanced Financial Plan
  • Expanded Financial Plan with Monthly Financials
  • FREE 30 Page Sample Private Placement Memorandum
  • FREE PowerPoint Presentation for Banks, Investors, or Grant Companies!

1.0 Executive Summary

The purpose of this business plan is to raise $100,000 for the development of a paralegal service business while showcasing the expected financials and operations over the next three years. Paralegal Service, Inc. (“the Company”) is a New York based corporation that will provide preparation of legal documents to individuals on behalf of attorneys and the courts in its targeted market. The Company was founded by John Doe.

1.1 Products and Services

The primary revenue center will come from producing documents to individuals on and attorneys throughout the New York metropolitan area. The business will be appropriately licensed to produce these documents under the supervision of an attorney. The third section of the business plan will further describe the services offered by the Paralegal Service, Inc.

1.2 The Financing

Mr. Doe is seeking to raise $100,000 from as a bank loan. The interest rate and loan agreement are to be further discussed during negotiation. 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: • Development of the Company’s Paralegal Service 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

The Paralegal Service’s mission is to become the recognized leader in its targeted market for paralegal services.

1.4 Mangement Team

The Company was founded by John Doe. Mr. Doe has more than 10 years of experience in the paralegal and legal support 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 law firms that have paralegal needs within the target market.

2.0 Company and Financing Summary

2.1 Registered Name and Corporate Structure

Paralegal Service, Inc. The Company is registered as a corporation in the State of New York.

2.2 Required Funds

At this time, the Paralegal Service requires $100,000 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 the Paralegal Service, 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 the Paralegal Service. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings.

3.0 Products and Services

Below is a description of the services offered by Paralegal Service, Inc.

3.1 Paralegal Service

As discussed in the executive summary, the Paralegal Service will provide a substantial amount of documentation directly to individuals and attorneys that have ongoing paralegal needs. In regards to working with attorneys, the business will focus on working with smaller firms that do not employ paralegals in house. All work completed by the Paralegal Service will be done under the supervision of a retained attorney.

 

 

4.0 Strategic and Market Analysis

4.1 Economic Outlook

This section of the analysis will detail the economic climate, the legal support 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. The meltdown of the sub prime mortgage market coupled with increasing gas prices has led many people to believe that the US is on the cusp of a double dip economic recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. However, Paralegal Service, Inc. will generate high margins from its services, and as such, the business will be able to remain profitable and cash flow positive at all times.

4.2 Industry Analysis

Within the United States, there are approximately 2,500 companies that are involved with drafting legal documents to individuals and businesses. Each year, these businesses generate approximately $1.9 billion of revenue while providing jobs to more than 15,000 people. Annual payrolls in each of the last five years has exceeded $500 million. This is a mature industry, and the future expected growth rate is anticipated to remain on par with that of the general economy. Again, this industry is relatively immune from negative changes in the economy.

4.3 Customer Profile

Paralegal Service, Inc.’s average client will be a law firm or individual attorney practicing in the Company’s target market. Common traits among clients will include: • Annual billings exceeding $300,000 per year. • Operates within 15 miles from the Company’s location. • Will spend $200 per development of documents to an individual or business.

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

The Paralegal Service 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 the Paralegal Service.

5.1 Marketing Objectives

  • • Develop an online presence by developing a website and placing the Company’s name and contact information with online directories.

  • • Establish relationships with individually practicing attorneys, law firms, and government agencies within the Company’s targeted New York market.

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5.2 Marketing Strategies

Mr. Doe intends on using a number of marketing strategies that will allow Paralegal Service to easily the demographics discussed in the fifth section of the business plan 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. The Paralegal Service will also use an internet based strategy. This is very important as many people seeking local services, such as paralegals, now the Internet to conduct their preliminary searches. Mr. Doe will register the Paralegal Service with online portals so that potential customers can easily reach the business. The Company will also develop its own online website showcasing the paralegal operations of the business. Mr. Doe will also directly contact attorneys and law firms in regards to developing ongoing relationships for their legal documentation needs.

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.

6.0 Organizational Plan and Personnel Summary

6.1 Corporate Organization

6.2 Organizational Budget



6.3 Management Biographies

In this section of the business plan, you should write a two to four paragraph biography about your work experience, your education, and your skill set. For each owner or key employee, you should provide a brief biography in this section.

7.0 Financial Plan

7.1 Underlying Assumptions

  • • The Paralegal Service will have an annual revenue growth rate of 16% per year.

  • • The Owner will acquire $100,000 of debt funds to develop the business.

  • • The loan will have a 10 year term with a 9% interest rate.

7.2 Sensitivity Analysis

Management does not anticipate that any further negative issues with the economy will hinder the Company’s ability to generate revenues as courts and law firms will continue to require document production in any economic climate.

7.3 Source of Funds


7.4 General Assumptions

7.5 Profit and Loss Statements 

7.6 Cash Flow Analysis

 

7.7 Balance Sheet

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7.8 General Assumptions

7.9 Business Ratios

Expanded Profit and Loss Statements

Expanded Cash Flow Analysis