Are you about starting a tech support company? If YES, here is a detailed sample remote tech support business plan template & feasibility report you can use for FREE.
In today’s world, computers are a standard part of every family and a major tool used by businesses. But the majority of the people have little to no knowledge when it comes to fixing these gadgets when an issue arises. That is why tech support businesses offer support to consumers on an as-needed basis.
Large and small ventures leverage the services of tech support companies to provide ongoing maintenance as part of their preventative maintenance strategy.
Their services include: installation and maintenance of equipment, software installation, system networking, system auditing, troubleshooting, repair and training. As a Tech support entrepreneur, most of your days will be spent troubleshooting and fixing your client’s computer and software issues.
What this entails vary depending upon the services you offer and the services your client needs. Additionally, you will need to spend five to ten hours each week networking and marketing and taking care of any other administrative duties that need your attention.
When starting this business, it will be wrong to classify your target market as “anyone that has a computer issue.” This is too vast.
Define your target customer based on your skills and experience, as well as what is needed in your area. Since residential clients are often on a tighter budget, consider targeting small businesses. Many tech support business owners have found success focusing on remote tech support.
Tech support companies make revenue from the services they offer, including management of servers, computers, and networks. Clients are billed by the hour. Recent report has it that the computer services industry generates more than $47 billion annually.
The employees you hire and your team’s education and background are, ultimately, what will define your organization’s long-term success. Also note that professional training and certification is vital to your success. A+ certification and Network + certification are both highly recommended.
Having strong computer skills, however, is only part of the equation. You should also have the ability to communicate with clients and possess the interpersonal and leadership skills required to network, market, and manage a business.
A Sample Remote Tech Support Business Plan Template
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
1. Industry Overview
Information Technology (IT) services are sometimes seen as an all-encompassing range of services, including computer programming, custom software design, hardware and software consulting, integrated systems design, training in software and hardware, systems management, and modifications of custom software.
Just like every other sector in the computer service industry, companies finding that they need one or all of these complex tasks often choose to hire an outside IT company rather than hire specialists in-house.
Industry reports have it that service providers in the industry compete not only with one another, but with manufacturers and retailers as well. Although IT service providers choose to serve a company’s entire bevy of needs, companies will frequently sign multiple providers for different services.
One factor that is becoming very popular for service providers is the “turn-key” system where an IT company negotiates to provide all the computer and software setup for a company as well as training, maintenance and continuing repair. Increasing wage costs have led to worries about profit margins in the industry getting tighter.
According to industry experts, there has also been a major push towards outsourcing, especially to india. One recent report estimated that 43% of US companies outsource at least some of their IT function. Internet service providers can also be said to be part of this industry as they provide internet access to businesses and individuals.
Far more than any of the other sectors, the ISP field is dominated by large companies. High speed internet, which consists of cable and DSL primarily, and newer technologies such as WiMax and FiOS, is dominant, replacing the earlier dial up connections which were prevalent in the 1990s.
The united states has 280m internet users as of 2015 – nearly 87% penetration. Nearly 90mm of those are broadband users.
Generally, computer service is a massive industry containing a number of different subfields. As computers continue to dominate our lives, there is more of a need than ever before for computer professionals. Because computers are always changing, that need should only increase as time goes forward.
2. Executive Summary
Eric Pearson® Remote Tech Support, Inc. is a remote technology and computer support firm registered and located in Seattle, Washington. We intend to serve corporate, customer-focused computer support companies. We plan to focus our service and support to differentiate our firm from more price-oriented computer support companies.
Computers and other technological gadgets are a standard part of our society and a major tool used by most businesses today. But even with the growing need and demand, most people have little to no knowledge when it comes to fixing these gadgets and most businesses cannot afford an in-house tech support department.
That is why we at Eric Pearson® Remote Tech Support, Inc. offer support for corporate individuals and businesses on an as-needed basis. We also believe that the current trend towards an increase in the number of entrepreneurs and competition amongst existing companies presents an opportunity for us to penetrate this market.
We understand that, for us to prosper, we need to be flexible and responsive, to delight clients by providing them with what they want, when they want it, and before the competition can offer it. One of our key objectives is to achieve this through a solutions approach that is customer-centric, and in which the customer’s business objectives enjoy top priority.
Immediately the needs and processes are understood and described, leading edge products and best-of-industry skills will be applied to develop a fitting solution in the most cost effective way.
Seattle’s economy is driven by a mix of older industrial companies, and “new economy” Internet and technology companies. Also, with Seattle being one of the fastest-growing U.S. city, with a 3.1% annual growth rate, it presents us with a viable market.
Our marketing strategy at Eric Pearson® Remote Tech Support, Inc. will ensure our clients know what need we are able to fulfill, and making the right service available to the market. We intend to implement a market penetration strategy that will ensure that our services are well recognized and respected in our industry.
We hope to ensure that our promotional strategy involves traditional advertising, Internet marketing, personal selling, public relations, and direct marketing, details of which are provided in the marketing section of this plan. Our intangible resources, such as our ability to relate to customers, our management style, corporate culture and commitment will go a long way to boost our brand.
We believe that these elements will differentiate us from our competitors and propel us towards the development of a sustainable brand. Our plan is not just to market and sell our product and services, but to provide customized services and products that will enable our clients to optimize their output and, assist in the attainment of their goals and objectives.
3. Our Products and Services
Our aim at Eric Pearson® Remote Tech Support, Inc. is to provide technological products and services to corporate and small businesses.
We will also provide wireless network systems and services and also design and install computer and technological gadgets, offer training, and support. In putting our business together, we have attempted to offer viable services to allow us to always be in demand.
4. Our Mission and Vision Statement
- Our vision at Eric Pearson® Remote Tech Support, Inc. is to serve our clients as trusted allies, providing them with the loyalty of a business partner and the economics of an outside vendor.
- Our mission at Eric Pearson® Remote Tech Support, Inc. is to be an established corporate firm that fulfills its obligations as a critical part of society. We believe that all our business decisions will offer appropriate weight and consideration to social and environmental impacts.
Our Business Structure
Eric Pearson® Remote Tech Support, Inc. understands that human resource element is a very crucial component in the delivery of service.
We believe that by rounding up enthusiastic, capable, and empowered people, we can be able to meet our clients’ needs. We hope to provide our teams enough leverage in decision-making to ensure that clients are handled promptly and to reduce lead-time in service delivery.
Our management philosophy at Eric Pearson® Remote Tech Support, Inc. will be based on responsibility and mutual respect.
We also appreciate the need to be constantly changing so as to adapt to the ever competitive environment. We will have a flexible structure allowing for all business processes to be undertaken swiftly and smoothly. We at Eric Pearson® Remote Tech Support, Inc. plan to start with the following business structure;
- Chief Executive Officer
- Technical Director
- Marketing and Advertisements manager
- Human Resources and Admin Manager
- Sales and Marketing manager
- Content designer and technical head
- Client Service Executive
5. Job Roles and Responsibilities
Chief Executive Officer
- Tasked with building the firm’s effectiveness by recruiting, selecting, orienting, training, coaching, counselling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
- Tasked with providing direction for the business
- Will also be tasked with creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Tasked with signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Works as the project manager of the organization; works directly with employees
- Tasked with designing advert concepts and winning business proposals for the organization
- Tasked with developing strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
- Tasked with accomplishing subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
- Should be able to coordinate efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
- Tasked with building company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
- Obligated to maintain quality service by establishing and enforcing organization standards.
- Tasked with maintaining professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
- Makes certain that operations and marketing department perform efficiently, coordinate employee efforts, and facilitate communications between management and employees
- Tasked with making sure that the organization work in line with international best practices.
Marketing and Advertisement manager
- Tasked with handling media planning, buying & representation
- Tasked with creating advertising campaigns
- Tasked with disseminating advertising campaigns through available mediums, such as TV, Radio and periodicals et al
- Tasked with handling core digital services such as brand affinity, banner advertising, video advertising, rich media advertising, sponsorship advertising, classifieds/directories, lead generation, mobile messaging/email, digital display advertising, mobile advertising, social media management
- Handle other related media and advertising advisory and consulting services
Human Resources and Admin Manager
- Tasked with overseeing the smooth running of HR and administrative tasks for the organization
- Will have to define job positions for recruitment and managing interviewing process
- Tasked with carrying out staff induction for new team members
- Tasked with training, evaluation and assessment of employees
- Oversee the smooth running of the daily office.
Sales and Marketing Manager
- Tasked with managing external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Obligated to model demographic information and analyze the volumes of transactional data generated by customer
- Should be able to identify development opportunities; follows up on development leads and contacts
- Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Tasked with handling business research, market surveys and feasibility studies for clients
- Tasked with supervising implementation, advocate for the customer’s needs, and communicate with clients
- Create new markets cum businesses for the organization
- Empower and motivates the sales team to meet and surpass agreed targets
- Tasked with preparing financial reports, budgets, and financial statements for the organization
- Tasked with providing the Companies management with financial analyses, development budgets, and accounting report
- Tasked with financial forecasting and risks analysis.
- Should be able to perform cash management, general ledger accounting, and financial reporting for one or more properties.
- Tasked with developing and managing financial systems and policies
- Tasked with administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for Eric Pearson® Remote Tech Support, Inc.
- Serves as internal auditor for Eric Pearson® Remote Tech Support, Inc.
Content designer and technical head
- Tasked with creating content for the organization as it relates to advertising
- Tasked with creating content/buzz words that will help attract traffic
- Tasked with Search Engine Optimization (SEO)
- Tasked with engaging internet users to get help statistics and leads
- Liaising and working effectively With other staff members to generate sales for our clients
Client Service Executive
- Tasked with welcoming clients and potential clients by greeting them in person, online or on the telephone; answering or directing inquiries.
- Makes sure that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the creative director in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ promotional campaigns etc. to ensure accurate and helpful information are supplied to clients when they make enquiries.
6. SWOT Analysis
We at Eric Pearson® Remote Tech Support, Inc. understand that conducting a SWOT Analysis is very necessary to any new venture, as it is an in-depth look at our Strengths, Weaknesses, Opportunities, and Threats. We also understand that we are in a highly competitive and profitable market in a growing economy.
We envisage our strengths as our ability to respond to the market and to provide custom designed technological services. Here is a summary of the SWOT Analysis;
- In-depth Knowledge. From our extensive research, our competitors are mostly retailers, pushing boxes. We know systems, networks, connectivity, programming, and data management.
- Relationship Business. Our plans to get to know our customers, one by one. Our direct sales efforts will seek to maintain a relationship with our customers.
- Diversified market segments. The array of products and services we intend to provide will ensure the lack of dependency on one particular market.
- Diversified workforce. Our management team at Eric Pearson® Remote Tech Support, Inc. plans to jointly develop business strategy and long-term plans with its strategic allies, having wide experience in their respective market and product know-how, and strong technical skills and business know-how.
- We understand that putting together new business practices and personnel who have not previously worked together presents a challenge to our company.
- Our limited financial base compared to the current major players in the computer service industry.
- Technological advancement. The growing opportunities presented everyday by technology offers us another area of strength in comparison to the box-on-the-shelf major stores. Our potential customers want more help with their network and gadgets, and we intend to be in a better position to give it to them.
- As our target market needs more service, our competitors are less likely than ever to provide it.
- Innovation reduces the life cycles of products and hence the need to act timely on the market.
- Issues of decision-makers over ease of access and overall security of new technologies may need to be addressed.
7. MARKET ANALYSIS
- Market Trend
We at Eric Pearson® Remote Tech Support, Inc. believe that staying ahead of the curve in our industry can be important to exceed expectations with customer service and make it a competitive advantage during the sales process. From our research, we were able to find out that some companies are starting to utilize external chat bots for requests like addresses, hours of operation, and phone numbers.
On the back end, complex automation rules created in customer service software are enabling agents in the industry to work more efficiently as applicable tickets and information are routed directly to them with little effort. As a remote tech support firm, we understand that having a cloud-based customer service software solution in place lets agents around the world help customers anywhere, any time.
It provides a full history of all past communication and detailed “notes” (i.e. top customer, demanding personality, etc.) so all team members can be in a better position to be successful. All of this information makes agents smarter than ever and better equipped to find the right answer and deliver it in a manner the customer will accept.
Another reason many companies are investing in customer service technology is because of the strong customer demand and response for customer self-service solutions. Now that these solutions are included automatically within customer service software, there is little reason for companies to not have an online support presence.
We at Eric Pearson® Remote Tech Support, Inc. expect the number of system integrations to grow and for B2B integration solutions to become not only more complex but also more seamless. The amount of information shared between systems will increase and a wider acceptance of “webhook” technology will make it easier for more integration to share information in real-time.
We also understand that over the past decade, mobile has significantly changed the ways companies provide customer service. With USA smartphone ownership in 2017 (77%) more than double what it was in 2011 (35%), companies will continue to pivot away from traditional phone support and become more well-versed in other offerings.
Self-service is obviously on the list, but one that will continue to grow and see increased usage is live chat. Having a chat solution built-in to customer service software with easy access to information and conversation history helps to boost response times and decrease the disconnection rate.
From our extensive research, there are only two common themes that remain consistent in our industry – technology and communication enablement. We believe that companies will continue to use technology so customers can find their own answers easier (through personalized self-service) and agents can be more efficient in assisting customers.
8. Our Target Market
We at Eric Pearson® Remote Tech Support, Inc. plan to focus on proactive, market seeking organizations that want to ensure an efficient and effective IT system that will assist in the realization of their business objectives.
We envisage that our target companies are big enough to need the high-quality IT management we offer, but too small to have a separate computer management staff. But, our most important group of potential customers will be business executives in large, medium, and small corporations.
They will include marketing managers, general managers, sales managers, and other decision makers who often need to access company data and information in their various business decisions. These individuals will not waste their time or money looking for bargain information, questionable expertise, or cheap computers and accessories.
We also hope to offer an attractive development alternative to the company that is management constrained and unable to address opportunities in new markets and new market segments, due to technological shortfalls. Our target businesses are dependent on reliable information technology.
They use the computers for a complete range of functions, beginning with the core administration information such as accounting and record entry, communications, and personal productivity.
- Our Competitive Advantage
A huge majority of proactive, market-oriented businesses understand the value of having an efficient computer system. They are much more likely to pay for them when the offering and benefits are clearly stated. We at Eric Pearson® Remote Tech Support, Inc. understand that we will compete more against the box pushers than other service providers.
We need to effectively compete against the idea that once a computer is outdated, businesses should buy new ones, when with ongoing service and support, they can be upgraded. The most crucial element of general competition, by far, is what it takes to keep clients for repeat business. Our competitive advantage at Eric Pearson® Remote Tech Support, Inc. is our positioning as a strategic ally with our clients.
We believe that by building a business based on long-standing relationships with satisfied clients, we will simultaneously build defenses against competition. We’ve noted that the longer the relationship stands, the more we help our clients understand what we offer them and why they need it.
9. SALES AND MARKETING STRATEGY
Our plan at Eric Pearson® Remote Tech Support, Inc. is to showcase our company as a strategic ally to our clients. We also plan to offer extremely reasonable prices in comparison to competition, and we need to be able to sustain that. Market penetration through lower prices shall be undertaken where need be, with premium pricing in the case of the upper-end of the market. We plan to use the following strategies to reach our targeted audience;
Our plan is to undertake extensive advertising of the services we offer. We will instill awareness and knowledge of our existence in the marketplace, which shall convert into market share. We will advertise in business and IT magazines that are read by our target market and will ensure we are adequately exposed on the market. Advertising will also be conducted through television, radio, newspapers/magazines, and the internet.
We plan to make sure that once we gain a customer, we never lose him/her. That is why to further accomplish this, we must work to create and maintain relationships. Word of mouth will be a powerful form of marketing due to the fact that its flexibility will enable us to match the customer’s needs to specific attributes of our services.
- Public Relations
Knowing that we are relatively new in our industry, there will be a need to organize an event to clearly introduce ourselves onto the market. We plan invite potential customers, senior officials, possibly including a government official and other stakeholders, so as to penetrate the market. We also intend to place news stories and features in magazines and newspapers to keep stakeholders updated on the latest developments and to increase awareness.
- Internet Marketing
We at Eric Pearson® Remote Tech Support, Inc. also plan to sell our services over the Internet as it is cost effective to reach a large number of potential clients.
10. Sales Forecast
One of our objectives at Eric Pearson® Remote Tech Support, Inc. is to create and maintain a follow-up strategy to gauge performance with all our clients. We will also formalize and measure cross-functional working communication so as to ensure that the various departments work harmoniously towards attainment of company objectives. We will also instill a culture of continuous improvement in customer satisfaction and efficiency.
For us to understand what we have and what we are expected to reach, we’ve analyzed and set out our sales forecast. This sales forecast was done after extensive research, discussion, and analysis of what is obtainable in the industry. Outlined below is the sales projection for Eric Pearson® Remote Tech Support, Inc.
- First Fiscal Year: $600,000
- Second Fiscal Year: $1,340,000
- Third Fiscal Year: $4,878,000
11. Publicity and Advertising Strategy
We will base our publicity strategy primarily on informing prospective customers of our existence and making the right information available to our target customer. We intend to make use of forearm promotional campaign to introduce all our products and services to the market. In alignment with our marketing plan, we will take advantage of several media sources in announcing our services and in the process enforcing awareness of our existence.
- Sources of Income
We at Eric Pearson® Remote Tech Support, Inc. will gain revenue streams from a combination of licensing agreements, sales commissions, monthly subscriptions, registration fees, network access charges, service fees, transaction charges, training, promotional incentive programs, and sales of hardware and software. We believe that our derived value will come from the key partnerships established.
12. Our Pricing Strategy
We understand that we will be competing more against the box pushers than other service providers. We plan to charge appropriately for the high-end, high-quality service and support we offer. We plan to ensure that our revenue structure matches our cost structure, so the salaries we pay to obtain good service and support must be balanced by the revenue we charge. That is why we must make sure that we deliver and charge for service.
- Payment Options
We at Eric Pearson® Remote Tech Support, Inc. are very much ready to provide a wide range of payment methods to suit our clients. We hope to make our business dealings so simple and comfortable for our customers. We’ve also employed the use of a banking platform to help us provide all the services we will be offering below.
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
- Payment via mobile money
- Payment with cash
13. Startup Expenditure (Budget)
Just like we stated above, our intangible resources, such as our ability to relate to customers regarding their needs and wants, management style, corporate culture and commitment will go a long way to boost our brand. We believe that these elements will differentiate us from our competitors and propel us towards the development of a sustainable competitive advantage.
Our plan was never to just market and sell our product and services, but to provide customized services and products that will enable our clients to optimize their output and, assist in the attainment of their goals and objectives. Outlined below is a detailed cost analysis of starting Eric Pearson® Remote Tech Support, Inc.;
- Incorporating fees in the United States of America will cost – $750.
- The budget for Liability insurance, permits and license will cost – $40,000
- Leasing/renting an office space in a good location in Silicon Valley that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $165,000.
- The cost for furnishing and equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $40,000
- The amount required to purchase the needed software applications – $3,500
- Launching an official Website will cost – $500
- Our budget for advertising and publicity – $40,000
- The amount needed to pay bills and staff members for at least 2 to 3 months – $100,000
- Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000
- Miscellaneous – $10,000
From the above cost analysis, we need about $640,000 to start Eric Pearson® Remote Tech Support, Inc.
Generating Funding/Startup Capital for Eric Pearson® Remote Tech Support, Inc.
We at Eric Pearson® Remote Tech Support, Inc. want to finance growth mainly through cash flow and equity. This means we will have to grow more slowly than we might like. But the most important factor in our case is collection days. We can’t push our clients hard on collection days, because they are in larger companies and will normally have marketing authority, not financial authority.
That is why we need to develop a permanent system of receivables financing, using one of the established accounting systems. In turn we intend to ensure that our investors are compatible with our growth plan, management style, and vision. Compatibility in this regard means:
- A mutual respect and understanding for giving our customers value, and for maintaining a healthy and congenial workplace
- Sticking to our realistic forecasts, conservative cash flow, and financial management
- Cash flow as first priority, growth second, profits third
- Ability to follow the project objectives and contribute valuable input to strategy and implementation decisions.
14. Sustainability and Expansion Strategy
We envisage major growth in sales and operating expenses, and a bump in our collection days as we spread the business during expansion. Although we acknowledge that collection days are very important, we do not want to let our average collection days get above 30 under any circumstances.
This could cause a serious problem with cash flow, because our working capital situation is chronically tight. However, we recognize that we cannot control this factor easily, because of the relationship with our clients.
We also acknowledge that our initial marketing and training expenses will be relatively high as we seek to become known on the market. We believe that this will be brought about by the development of sales literature, advertising expenses, and function expenses.
As our market share grows and revenue is generated, further marketing programs and the expansion of those in existence at the time will be undertaken, to ensure market development. However, with time, these programs will start generating revenue for the business, which we shall reinvest.
It is also important to state that our macro-environment is very promising. Our business is in the middle of an unprecedented boom, as unimaginable advancement offers information technology like we never dreamed of. Meanwhile, all other signs are positive.
We believe that the current drive by the government towards a more diversified economy presents an opportunity for our business to excel in our intended markets, benefiting from the support of the concerned institutions and trade bodies.
We plan to ensure that our marketing strategy emphasizes focus. Our target market will include key decision-makers in business, which often order or recommend on behalf of the whole organization. We also plan to initially build image and awareness through consistency and distinctiveness in our product and service provision. We will also focus on delivering quality services that produce good referrals, which can then generate revenue.
We intend to have a heavy personal selling component, supported by regular advertising and we will always be active in our personal relationships with clients and strategic allies. We also intend to achieve growth by establishing a more enthusiastic customer culture than our competitors.
The strategy is to grow the business by nurturing customers, differentiating the product/service offering through service and staff behavior. We also believe that through the implementation of a fair, effective, and competitive remuneration policy we will optimize our human resource output and advancement.
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Leasing, renovating and equipping our facility: Completed
- Generating part of the startup capital from the founder: Completed
- Applications for Loan from our Bankers: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Company’s Logo: Completed
- Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry: In Progress