Free Virtual Secretary 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.
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 $50,000 for the development of a virtual secretary service while showcasing the expected financials and operations over the next three years. Virtual Secretary, Inc. (“the Company”) is a New York based corporation that will provide outsourced business administration services to business customers in its targeted market and on a national basis. The Company was founded in 2008 by John Doe.
1.1 Products and Services
The primary revenue center for the business will come from business and individuals that enroll in the Company’s virtual secretary services, which will consist of answering phone calls, writing emails, preparing letters, and providing other non-core business administrative services. Each client will be given a Voice over Internet Protocol line to which they can forward their clients or associates calls. The Company will charge for its services on a monthly basis. The business will also generate ancillary streams of revenue from document preparation, faxing, and other services. The third section of the business plan will further describe the services offered by the Virtual Secretary.
1.2 The Financing
Mr. Doe is seeking to raise $50,000 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.
1.3 Mission Statement
The Virtual Secretary’s mission is to provide businesses and individuals with a comprehensive line of outsourced business administration services that will provide clients with the ability to lessen their workload while concurrently providing the highest level of professional business support.
1.4 Mangement Team
The Company was founded by John Doe. Mr. Doe has more than 10 years of experience in the outsourced business services 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 and businesses within the target market.
2.0 Company and Financing Summary
2.1 Registered Name and Corporate Structure
Virtual Secretary, Inc. The Company is registered as a corporation in the State of New York.
2.2 Required Funds
At this time, the Virtual Secretary 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 Virtual Secretary, 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 Virtual Secretary, Inc. 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 outsourced business administration services offered by the Company.
3.1 Virtual Secretary Services
The primary source of revenue for the Company, as discussed in the executive summary, will come from the outsourced administration of non-core business functions including taking phone calls, responding to emails, and answering mail. Each client will be billed $200 to $500 per month depending on the level of service they require. Furthermore, each client will be given their own VoIP line where they can have calls forwarded or directly routed. One of the Company’s virtual secretary specialists will answer the phone with the name of the client’s company or the name of the client.
3.2 Ancillary Services
The Company will also earn secondary streams of revenue from faxing service, mailing services, and document preparation services. These services will be billed on top of the Company’s monthly fees charged to individual and business clients. In the future, other services may include minor bookkeeping services for clients that use standard accounting software to manage their finances.
4.0 Strategic and Market Analysis
4.1 Economic Outlook
This section of the analysis will detail the economic climate, the outsourced business administration 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 in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid-2009, at which point the economy will begin a prolonged recovery period. However, outsourced business administration companies typically operate with a strong degree of economic stability as companies and individuals may seek to reduce their operating expenditures by outsourcing certain non-core business functions in lieu of hiring full time employees.
4.2 Industry Analysis
Within the United States, there are approximately 6,000 businesses that provide outsourced business administration and secretarial services to the general public. Each year, these businesses aggregately generate more than $2.5 billion of revenue and provide jobs to more than 50,000 people. Annual payrolls in each of the last five years have exceeded $1 billion. This is a mature industry, and the future expected growth rate is expected to mirror that of the general economy. However, as businesses continually seek to seek ways to reduce costs, even in this tumultuous economy, secretarial companies may actually see modest increases in revenues despite the current recession.
4.3 Customer Profile
In this section of the analysis, you should describe the type of customer you are seeking to acquire. These traits include income size, type of business/occupation; how far away from your business is to your customer, and what the customer is looking for. In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.
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
Virtual Secretary, Inc. 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 Company.
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.
5.2 Marketing Strategies
Mr. Doe intends on using a number of marketing strategies in order to promote enrollment in the Company’s virtual secretary service programs. Primarily, the Company will begin as a local business that will directly contact other local businesses that have outsourced business administration needs or are upper middle income people that need personal assistant services (phone call management, email responding, etc.). To that end, the Company will place advertisements in local newspapers, local publications, and will distribute flyers to businesses and individuals in the local market. Additionally, Mr. Doe intends to develop a highly interactive online website that will be marketed on a national level using pay-per-click and search engine optimization strategies. This way, the Company can solicit clients that solely want to work with Virtual Secretary, Inc. in a completely virtual capacity. This will maximize the revenues of the business, while ensuing a steady stream of new clients so that the business can effectively expand during its first three years of operation. The website will showcase the services offered by the business, the costs for services, how to open an account with the business, and relevant contact information.
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
• Virtual Secretary, Inc. 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
In the event of an economic downturn, the business may have a decline in its revenues. However, virtual secretary and outsourced business administration services are typically demanded in all business climates as companies seek to reduce their expenditures by outsourcing non-core business functions. Additionally, the high margin revenues of Virtual Secretary, Inc. will ensure that the business can remain profitable and cash flow positive in any economic environment.
7.3 Source of Funds
7.4 General Assumptions
7.5 Profit and Loss Statements
7.6 Cash Flow Analysis
7.7 Balance Sheet
7.8 General Assumptions
7.9 Business Ratios
Expanded Profit and Loss Statements
Expanded Cash Flow Analysis