Are you about starting a resume writing service? If YES, here is a complete sample resume writing business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a resume writing business. We also took it further by analyzing and drafting a sample resume writing service marketing plan template backed up by actionable guerrilla marketing ideas for resume writing businesses. So let’s proceed to the business planning section.
Table of Content
- 1 Why Start a Resume Writing Service Business?
- 2 Resume Writing Service Business Plan – Executive Summary
- 3 Resume Writing Service Business Plan – SWOT Analysis
- 4 Resume Writing Service Business Plan – MARKET ANALYSIS
- 5 Resume Writing Service Business Plan – SALES AND MARKETING STRATEGY
- 6 Resume Writing Service Business Plan – Publicity and Advertising Strategy
- 7 Resume Writing Service Business Plan – Financial Projections and Costing
- 8 RESUME WRITING BUSINESS GROWTH: Sustainability and Expansion Strategy
Why Start a Resume Writing Service Business?
As a human resource professional who is looking towards becoming your own boss and earning good money from the human resource consulting industry, one of the low start – up capital but profitable business that you can successfully start is to start a resume writing agency.
This type of business is indeed a viable business- especially if you are able to position the business in location with the right demographic composition. A place with the right demographic composition for this type of business are locations where you have loads of fresh graduates, locations with loads of job applicants and any other location in and around a recruitment hub in your city.
Factors that encourage entrepreneurs to start their own resume writing agencies or Human Resource related consulting firms could be that the business is easy to set up and the start – capital is indeed affordable; you can actually start your own resume writing consulting business from the comfort of your house.
All you need to do is to create an office somewhere in your house. People usually pay you for helping them write standard and compelling CV and you can communicate with your client from start to finish via email and telephone calls without seeing them physically.
If you have made up your mind to start your own resume writing agency business, then you would need to undertake a thorough market survey and feasibility studies to be sure you would have market for your services in the location you intend launching the business.
Apart from a thorough market survey and feasibility studies, you would also need a workable business plan document. The sample resume writing agency business plan template below will guide you towards writing yours.
A Sample Resume Writing Service Business Plan Template
- Industry Overview
The human resource consulting industry in the United States of America is indeed a big and thriving industry and resume writing agency is a subset of the industry and can be safely classified under the Document Preparation Services Industry.
Those who run resume writing agencies are classified as Human Resources consultant. Resume writing agencies are responsible for helping individuals (applicants) and even corporate organization write standard and winning resume. They are involved in letter or resume writing; document editing or proofreading; word processing or desktop publishing; transcription or dictation; and other secretarial services.
When it comes to getting paid, some resume writing agencies charge their clients; applicant administrative fees so as to help draft a compelling CV that will suit the job they are applying for and in some cases they also help them processes their applications. Processing the application of an applicant includes helping them restructure their CVs and cover letters so as to fit into the expectation of the recruiter (the organization they want to work for).
The Document Preparation Services Industry is indeed a thriving and viable business in most countries of the world (United States of America, Italy, France, United Kingdom, China, Nigeria and India et al). Statistics has it that in the United States of America alone, the Document Preparation Services industry generates a whooping sum of well over $5 billion annually from more than 87,859 registered and licensed document preparation services cum resume writing agency scattered all around the United States of America.
The industry is responsible for the employment of well over 130,576 people. Experts project the document preparation services cum resume writing industry to grow at a 0.3 percent annual rate. The establishment in this industry that has a dominant market share in the United States of America is Nuance.
The Document Preparation Services industry cum resume writing agency line of business will continue to blossom because more and more fresh graduates and other job applicants are beginning to realize that somehow they need the services of resume writing firms to help them take aware the stress of writing CVs that may not meet with the expected standard of the recruiting agencies or organizations.
From all available statistics, it is safer to say the document preparation services industry is growing steadily despite the competitive nature of the industry. One thing is certain if you are well positioned, and have the required business skills, network and good testimonial from your clients, you may likely not have to struggle to compete favorable in the document preparation services industry cum resume writing line of business.
Lastly, one good thing about resume writing agencies is that there are readily available markets for their services. This is simply because schools will continue to churn out graduates who would want to apply and work for corporate organization hence the need to write a professional and compelling CV.
Resume Writing Service Business Plan – Executive Summary
The Golden Pen® HR Consulting, LLC is a is a standard and registered HR consulting services company with strong bias for resume writing and document preparation services that will be located in the heart of Albany–New York; in an ideal location highly suitable for the kind of HR consulting business we want to establish. We have been able to lease a small but standard office facility in a strategic business location in the heart of town.
The Golden Pen® HR Consulting, LLC will offer a wide range of document preparation cum resume writing related services. We will be involved in desktop publishing services, medical transcription, dictation services, audio or documental transcription services, editing and proofreading services, and letter and Resume writing services, word processing services and other document preparation and secretarial related services.
We are set to services a wide range of clientele not just in the Albany – New York, but also in all parts of the United States and the globe at large since we will have a very strong online presence.
We are aware that there are several large and small document preparations cum resume writing agencies all around the United States of America, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.
The Golden Pen® HR Consulting, LLC is a client-focused and result driven resume writing agency that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients. We will offer a complete range of document preparation cum resume writing services to our local, state, national, and multi-national clients and we will ensure that we work hard to provide the required consulting services and resume writing solutions needed by our clients to accomplish their goals and objectives.
At The Golden Pen® HR Consulting, LLC, our client’s best interest come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire consultants cum resume writers and editors who are well experienced in a wide variety of human resources consulting.
\We will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
The Golden Pen® HR Consulting, LLC is a private registered business that is owned by Matt Daytona and his immediate family members. The organization will be managed by Matt Daytona, he graduated from University of California – Berkley (First Degree in Personnel Management), and Brock School of Business at Stamford University (MBA).
Matt Daytona is a Certified Recruiting Specialist (CRS), a Certified Personnel Consultant (CPC) amongst other certifications in Human Resources. He has well over 10 years of hands on experience working for some of the leading HR consulting firm in the United States prior to starting The Golden Pen® HR Consulting, LLC.
- Our Product and Services
The Golden Pen® HR Consulting, LLC is going to offer varieties of related document preparation cum resume writing related services within the scope of the HR consulting services industry in the United States of America. Our intention of starting our resume writing agency is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.
Our business offering are listed below;
- Letter and Resume writing services
- Desktop publishing services
- Medical transcription
- Dictation services
- Audio or documental transcription services
- Editing and proofreading services
- Word processing services
- Other human resources cum secretarial related services
Our Vision Statement
Our vision is to be amongst the top 10 document preparation cum resume writing agencies in the United States of America. Our vision reflects our values: integrity, service, excellence and teamwork.
- Our Mission Statement
Our mission is to provide professional and trusted document preparation cum resume writing consulting services that assist individuals, businesses and non-profit organizations in meeting up with their application need. We provide workable document preparation cum resume writing solutions in combination with our own business backgrounds, and deliver valuable services in a timely and cost-effective way.
- Our Business Structure
Ordinarily we would have settled for two or three staff members, but as part of our plans to build a standard document preparation cum resume writing agency business in Albany – New York, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent, creative, qualified, honest and hardworking employees to occupy all the available positions in our firm.
The picture of the kind of document preparation cum resume writing agency business we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around Albany – New York as long as they are willing and ready to work with us to achieve our business goals and objectives.
Below is the business structure that we will build The Golden Pen® HR Consulting, LLC;
- Chief Executive Officer / Lead Consultant
- Resume Writers / Editors / Document Preparation Consultants
- Admin and HR Manager
- Business Developer (Marketing and Sales Executive)
- Customer Service Executive
- Front Desk Officer
Roles and Responsibilities
Chief Executive Office / Lead Consultant:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- 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.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Reports to the board.
Resume Writers / Editors and Document Preparation Consultant
- Handles Letter and Resume writing services
- In charge of Desktop publishing services
- Responsible for handling medical transcription services
- Responsible for handling dictation services
- Responsible for handling audio or documental transcription services
- Responsible for handling editing and proofreading services
- Responsible for handling word processing services
- Produces information by transcribing, formatting, inputting, editing, retrieving, copying, and transmitting text, data, and graphics; coordinating case preparation.
- Provides historical reference by developing and utilizing filing and retrieval systems; recording meeting discussions; maintaining transcripts; documenting and maintaining evidence.
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Responsible for drawing up contracts and other legal documents for the company
- Designs job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Oversees the smooth running of the daily office activities.
Business Developer (Marketing and Sales Executive)
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyze the volumes of transactional data generated by customer purchases
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Client Service Executive
- Ensures 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
- Thorough 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 manager in an effective and timely manner
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
- Distributes mails in the organization
- Handles any other duties as assigned my the line manager
Resume Writing Service Business Plan – SWOT Analysis
The Golden Pen® HR Consulting, LLC engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a solid document preparation cum resume writing firm that can favorably compete in the highly competitive HR consulting industry.
Part of what the team of business consultant did was to work with the management of our firm in conducting a SWOT analysis for The Golden Pen® HR Consulting, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of The Golden Pen® HR Consulting, LLC;
Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in resume writing and document preparation related services.
Aside from the synergy that exist in our carefully selected workforce and our strong online presence, The Golden Pen® HR Consulting, LLC is well positioned in a business district with the right demography and we know we will attract loads of corporate clients from the first day we open our doors for business.
As a new business document preparation cum resume writing firm, it might take some time for our organization to break into the market; that is perhaps our major weakness.
No doubt, the opportunities in the document preparation cum resume writing industry is indeed massive and we are ready to take advantage of any opportunity that comes our way. This is so because resume writing agency line of business will continue to blossom since more and more fresh graduates and other job applicants are beginning to realize that somehow they need the services of resume writing firms to help them take aware the stress of writing CVs that may not meet with the expected standard of the recruiting agencies or organizations.
Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the business.
Some of the threats that we are likely going to face as a document preparation cum resume writing agency operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects spending / purchasing power. There is hardly anything we could do as regards these threats other than to be optimistic that things will continue to work for our good.
Resume Writing Service Business Plan – MARKET ANALYSIS
- Market Trends
To a certain extent a number of distinct trends have emerged in recent time in the consulting industry of which document preparations cum resume writing services are part of. This is why HR consulting agencies (document preparation cum resume writing agencies) are positioning their organizations to survive the peaks and troughs of an ailing economy.
As a matter of fact, most of these trends aid document preparation cum resume writing services organizations to become more creative, competitive, efficient, and productive in a global market. Some other trends in the HR consulting industry could be attributed to changing demographics, attitudes and work styles.
Another common trend in the document preparations cum resume writing services line of business is that most players in this industry do not just settle for clients within their immediate environment; they now have strong online presence hence they are able to work for clients in other parts of the world.
Lastly, it is now becoming trendy in the document preparation cum resume writing services industry to have their own customized resume writing software apps that they can comfortably retail to clients. Resume writing apps make it easier for applicants and rookies to write a standard and compelling resume from the scratch.
- Our Target Market
Although The Golden Pen® HR Consulting, LLC will initially serve fresh graduates and job applicants, but that does not in any way stop us from growing to be able to compete with the leading HR consulting firms and document preparations cum resume writing services agencies in the United States.
We hope to someday merge or acquire other smaller HR consulting firms and expand our document preparation cum resume writing services beyond the shores of the United States of America.
As a full service and standard document preparations cum resume writing services firm, The Golden Pen® HR Consulting, LLC have a variety of practice areas to help fresh graduates and applicants especially as it relates to document preparation and resume writing services.
While we works with a variety of organizations and industries, The Golden Pen® HR Consulting, LLC will also specialize in working with startups, real estate investors, and contractors, manufacturers and distributors et al.
Our target market cuts across people of different class and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses.
In other words, our target market is the whole of the United States of America and subsequently other parts of the world. Below is a list of the people and organizations that we have specifically design our products and services for;
- Fresh graduates
- Job Applicants at all levels
- Traveling Agencies
- Sport Organizations
- Entrepreneurs and Start – Ups
Our Competitive Advantage
The level of competitions in the document preparations cum resume writing industry depends largely on the location of the business and of course the demographic composition of your chosen location. If you can successfully create a unique niche for your document preparations cum resume writing agency, you are likely going to experience little or no competition.
For instance; if you are the only document preparations cum resume writing agency that operates online and also sell resume writing apps in your location, you are sure of monopolizing that aspect of the market.
The Golden Pen® HR Consulting, LLC might be a new entrant into the staffing and training consulting industry in the United States of America, but we are able to create an easy to use resume writing apps and also we have a strong online presence that will help us work for clients all across the world.
Our competitive advantage also lies in the power of our team; our workforce. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in resume writing and document preparation related services.
Aside from the synergy that exist in our carefully selected workforce and our strong online presence, The Golden Pen® HR Consulting, LLC is well positioned in a business district with the right demography and we know we will attract loads of corporate clients from the first day we open our doors for business. These are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups document preparation cum resume writing agencies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
Resume Writing Service Business Plan – SALES AND MARKETING STRATEGY
We are mindful of the fact that there are stiffer competitions amongst document preparations cum resume writing services agencies in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing.
Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent job deliveries speaks for us in the market place; we want to build a standard document preparation cum resume writing services business that will leverage on word of mouth advertisement from satisfied clients (both individuals and organizations).
Our goal is to grow our document preparations cum resume writing services agency to become one of the top 10 document preparations cum resume writing services agencies in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the U.S but in the world stage as well.
The Golden Pen® HR Consulting, LLC is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our business by sending introductory letters alongside our brochure to organizations and key stake holders in Albany – New York and other parts of the U.S.
- Promptness in bidding for document preparations and resume writing services contracts from the government and other cooperate organizations
- Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
- List our business on yellow pages ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver quality document preparations and resume writing services to them
- Leverage on the internet to promote our business
- Engage in direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
Resume Writing Service Business Plan – Publicity and Advertising Strategy
We have been able to work with our in house consultants and other brand and publicity specialist to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the document preparations cum resume writing services industry by storm which is why we have made provisions for effective publicity and advertisement of our organization.
Below are the platforms we intend to leverage on to promote and advertise The Golden Pen® HR Consulting, LLC;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
- Install our Bill Boards on strategic locations all around Albany – New York and major cities in the United States of America
- Engage in road show from time to time in targeted communities
- Distribute our fliers and handbills in target areas
- Position our Flexi Banners at strategic positions in the location where we intend getting clients to start patronizing our services.
- Ensure that all our staff members wear our customized clothes, and all our official cars are customized and well branded.
Sources of Income
The Golden Pen® HR Consulting, LLC is established with the aim of maximizing profits in the document preparations cum resume writing services industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign ‘retainer – ship’ contract with most of our clients.
The Golden Pen® HR Consulting, LLC will generate income by offering the following document preparations cum resume writing services for individuals and for organizations;
- Letter and Resume writing services
- Desktop publishing services
- Medical transcription
- Dictation services
- Audio or documental transcription services
- Editing and proofreading services
- Word processing services
- Other human resources cum secretarial related services
The opportunities in the document preparation cum resume writing industry is indeed massive and we are ready to take advantage of any opportunity that comes our way. This is so because resume writing agency line of business will continue to blossom since more and more fresh graduates and other job applicants are beginning to realize that somehow they need the services of resume writing firms to help them take aware the stress of writing CVs that may not meet with the expected standard of the recruiting agencies or organizations.
We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond New York City, New York to other states in the U.S. and even the global market.
We have been able to critically examine the document preparations cum resume writing services agency market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Albany – New York.
Below are the sales projection for The Golden Pen® HR Consulting, LLC, it is based on the location of our business and the wide range of document preparations and resume writing services that we will be offering;
- First Fiscal Year-: $120,000
- Second Fiscal Year-: $300,000
- Third Fiscal Year-: $450,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Our Pricing Strategy
Hourly billing for consulting services is a long – time tradition in the industry. However, for some types of consultancy services especially document preparations and resume writing services, flat fees or per head billings make more sense because they allow clients to better predict consultancy costs.
As a result of this, The Golden Pen® HR Consulting, LLC will charge our clients a flat fee or per head for many basic services such as document preparations and resume writing et al.
At The Golden Pen® HR Consulting, LLC we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to fresh graduates, start – ups, nonprofits, cooperatives, and small social enterprises.
We are aware that there are some clients that would need regular access to consultancy and advisory services as it relates to staffing and performance management, we will offer flat rate (commission / percentage) for such services that will be tailored to take care of such clients’ needs.
- Payment Options
The payment policy adopted by The Golden Pen® HR Consulting, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that The Golden Pen® HR Consulting, LLC will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via Point of Sale Machine (POS)
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.
Resume Writing Service Business Plan – Financial Projections and Costing
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. On the average, starting a document preparation cum resume writing services firm can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment.
Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications. Basically, these are the area we are looking towards spending our start – up capital on;
- The total fee for incorporating the Business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
- The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400.
- The amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000.
- Marketing promotion expenses for the grand opening of The Golden Pen® HR Consulting, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- The total cost for hiring Business Consultant – $2,500
- The cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $2,000
- The cost of launching our official Website – $600
- Budget for paying at least two employees for 3 months and utility bills – $30,000
- Additional expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
- Miscellaneous – $1,000
Going by the report from the research and feasibility studies, we will need about $150,000 to set up a small scale but standard document preparation cum resume writing services agency business in the United States of America.
Generating Funds / Startup Capital for the Golden Pen® HR Consulting, LLC
The Golden Pen® HR Consulting, LLC is going to start as a private business that will be solely owned by Matt Daytona and his immediate family members. The family will be the sole financial of the firm, but may likely welcome partners later which is why they have decided to restrict the sourcing of his start – up capital to 3 major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
RESUME WRITING BUSINESS GROWTH: Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting The Golden Pen® HR Consulting, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer nothing short of excellent services at highly affordable prices especially for fresh graduates.
The Golden Pen® HR Consulting, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Leasing a standard office facility (renovation of the office facility inclusive): Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up 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
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed 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 key players in the industry: In Progress
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