Table of Contents
• Business Overview
• Purpose of Funds
• Partner Histories
• Team Overview
• Mission and Vision Statements
• Loan Request
• Projected Revenue, Expenses and Cash Flows
The certified public accounting firm of is to be formally established on . The principal of the firm, , has experience in diverse industries and an extensive background in several tax specializations.
was a manager in the Tax department of , Norman and Company, Certified Public Accountants, prior to leaving to establish her own practice. At the firm, she was primarily responsible for foreign taxation and employee benefit programs.
plans to continue those specialties in her own practice and will locate in an area where these specialties are in demand. The firm will offer two primary services that capitalize on academic training and specialized practice experience in foreign taxation and estate planning. The marketing plan also projects a considerable effort directed toward general tax service currently being requested of CPAs.
According to a survey of over 350 accounting firms in the state, the average growth in services in the last three years is in excess of 16 percent annually. Further evidence of the demand for competent tax services is the continual search by established firms for experienced (three years or more) accountants to work in tax compliance.
Our office location is in the metropolitan area’s Northwest quadrant and is specifically located in the recently developed 80-acre Airport Industrial and Commercial Park. Some studies project this development to be the anchor of future development projects, particularly if contracts are let for the expansion of the airport. Though the firm is being established initially as a sole proprietorship, growth and expansion plans are already in the formulative stages, as a result of office-sharing and exchange of service arrangements.
Purpose of Funds
The business plan looking fund of .The loan will be in two parts, the first of which is for equipment, furnishings, and initial promotional efforts. That loan is to be amortized monthly for four years and collateralized by initial and hereinafter-acquired equipment and furnishings. The balance, , is to be a revolving line of credit collateralized by all other assets of the firm and necessary personal assets held outside the firm.
There are Investors who are interested in my business. We all share experience in the same industry and so we are able to contribute something unique to the concept.
One of the investors has experience in . His experience and expertise has helped us a lot in shaping our dream into reality. The other one has in house experience and is willing to offer his services to us.
graduated from Central State University with a BS in business administration. She earned a master of taxation degree in 2001 from the same school, while employed at an international accounting firm. She is a CPA who enjoys people and numbers. During a total of over seven years of public accounting with two different firms, she has
- • held the position of senior staff person in both foreign and employee benefit taxation at the time she left her most recent employment, a 25-person, two-office firm.
had client responsibilities in various industries and professions. This included extensive client interaction, tax planning, client billing, and problem resolution. She has also represented clients before the IRS..
Our goal is to help business owners successfully navigate the tax preparation and planning of their businesses in a way that helps to minimize their tax obligations. We also want to help clients improve their financial positions by providing clarity and insight into their businesses, which will help them operate their businesses more successfully.
Create a business that provides superior customer service. We will strive to consistently deliver value to
our clients and, as a result, grow our business through referrals. Our initial focus will be on general and international tax, as well as estate planning. We will consider other specialties that we believe we can master without sacrificing our core focus and add significant value to our clients.
The Airport Industrial and Commercial Park contains 23 businesses involved to some degree in importing and exporting products to the Far East. A number of the businesses have branch offices in Hong Kong, Tokyo, and Seoul. Even though most of those businesses are currently being served by other CPA firms, there are significant possibilities of either consulting projects with other CPAs or actual client acquisition.
Our specific marketing program includes the following:p
- • Creation of a basic website that will highlight the firms service offerings, post our newsletters and
webinars, as well as contain general information.
- • Mailing of announcements to approximately 250 individuals and firms with whom there exists a
personal, business, or client relationship. (Followed up with phone and in-person contact, as
- • Becoming involved in, or expanding activities in, three civic and community groups: the Airport
Industrial Park Business Association, the Lake Valley Optimist Club, and the Greater Metropolitan Estate
Planning Council. She will also continue professional activities in the state society of CPAs and the
American Institute of Certified Public Accountants.
- • will develop and offer three webinars on “Tax Advantages to Developing New Markets in the
Far East,” “Can You Sell ‘Made in the USA’ to the Far Eastern Market?” and “Fringe Benefits for Your
Employees and the Related Advantage to You.” These webinars will be offered on a no-charge basis. The
mailings for the webinars will concentrate on bankers, firms in the Airport Industrial and Commercial
Park area, and new businesses. She will personally call and visit prospective clients to invite them to
view the webinars.
- • Additional marketing efforts will include writing articles for national publications, service with industry
trade organizations, and target marketing of businesses in the Far East market sector.
Our total projected budget for the is
We are asking for an amount of as a loan. It will be repaid
over at a rate of interest, making payments of .
Other Documentation attached to this request includes income and cash flow projections for the
Cosmetics Manufacturing and alternative operational structures in the event our projections.