Building a Business Plan for a Process Serving Company
A proper business plan for a process serving company is a blueprint that’ll help guide you through all the different stages your business will go through. You'll need to follow your business plan as though it is a detailed roadmap leading you to success. Your business plan will help you navigate through the treacherous water of the process serving industry .
A well detailed business plan can help a process server get funding to start their own company. And having a well detailed business plan can help investors feel confident in giving you funding. Think of your business plan in the same way mechanics think of their tools.
The business plan you write can help you solve difficult problems when they arise.
How To Write Your Business Plan
Don’t stress over writing the perfect business. The important thing to remember is that if your business plan has everything you need from the beginning it could lead to Success.
How to format your business plan
If you're a detailed person, writing a comprehensive business plan will help organize your business's future and secure future funding . Here is the formatting you should follow in order to achieve the best results when writing your process serving business plan.
Executive summary
In your executive summary you would want to briefly explain your overall plan for success. Including what your process server does, information on high level employees, if you have a brick in mortar location, and your mission statement. Also you would want to include brief financial projections for three years.
Company description
In this section you would want to give a detailed description of how you plan to operate. Detail all the problems you plan to solve with your process service. You would want to describe the services you plan to offer.
Explain what gives your company a competitive edge over other process services. What makes your team experts in the legal process serving field? Give a description of the ideal location you’ve found? In the section you would want to talk your company up if you plan on looking for investors.
Market analysis
In this section you would want to do your research on your competitors and potential clients. After doing your research on other process serving companies in your market. You would want to look for common treads and themes in your local market. You would want to figure out what other process serving companies are doing well and emulate their actions.
Organization and management
You would need to list in this section how you plan to structure your business. Whether you want to start as a sole-proprietor or as an LLC. List your team members and if you plan on having partners, describe their role in the company and what percentage of the company they own. Resumes from your partners usually are a good source of information.
Services
In this section you would want to describe all the services you plan on performing such as process serving, court filing, document retrieval, skip tracing, and notary service.
Marketing and sales
Marketing your process service should be constantly evolving and changing. So, there is no exact strategy that every process server follows but finding a few options and listing them in the section will give you a starting point.
Funding request
If you are looking for an investor this is the section where you would want to boast about your company. You would want to explain how much money you’ll need to get your process service started and how you plan to use the funding.
Financial projections
Once you get going on financial projections you would want to include a five year outlook. Also include forecasted balance sheets, capital expenditure budgets, income statements, and cash flow statements. You would want to be as specific as possible in your projection for the first year.
Appendix
In the Appendix you should give all material supporting your company. Such as business permits, process serving licenses, or legal documents.
Comments