Businnes Plan

Accounting & Bookkeeping Business Plan


Accounting & Bookkeeping Business Plan


Max Greenwood CPA in Chicago, Illinois is the owner and operator of The Sorcerer&#8217 s Accountant. The firm offers training and support for small business clients, including management accounting and tax accounting. The business is expanding its services to include bookkeeping for small businesses in order to move beyond a one-person operation. This will require investments in marketing and staff to increase the business’s expansion to this new business. This business plan organizes and sets goals for growth in the next three year.

The company will provide bookkeeping services to clients with the supervision of a CPA at an affordable price. This involves the hiring of undergraduate students as bookkeepers and graduate students as managers. Fixed costs are kept as low as possible and Sorcerer’s Accountant continues to expand its expertise through its website resources. The effect will be sales more than doubling over three years as 8 part-time bookkeepers are deployed to client businesses as needed, and salary and dividends to Greenwood increase substantially.

Objectives

The Sorcerer&#8217s accountant wants to launch a new range of services “small business bookkeeping” which will be offered for the same clients as the Sorcerer&#8217s accountant currently serves.

The following objectives have been set by the Sorcerer’s Accountant:

  • To slowly start the bookkeeping services, we started with two part time bookkeepers
  • Bookkeeping service annual revenues equal or more than current total revenue within three years (effectively doubled revenue).
  • To earn a net profit exceeding $60,000 over three years
  • To hire 8 part-time bookkeepers within three years

Mission

The Sorcerer&#8217’s Accountant offers a full range of tax and management accounting services to small business owners in Chicago, Illinois. They help them not only to save money and comply with tax laws but also to make good management decisions using their numbers.

Keys to Success

These are the keys to success in an accounting business:

  • Building trust between clients
  • Maintaining current CPA certification. Continuing education in accounting practices.
  • Clients don’t just save money; they want to be able to see how they can improve their revenue.
  • Legal and ethical guidelines in transparency, reporting and taxes