The bankruptcy service business plan capitalizes on the problematic market conditions of the past few years to deliver a revenue-generating business model that services people's bankruptcy representation needs. While the economic fluctuations that began in 2008 have been a boon to very few industries, bankruptcy attorneys and service providers offering debt consolidation or representation to creditors have found a new market opportunity. For your bankruptcy service business plan, explain where your niche is and define your service suite as comprehensively as you can. Show what the typical engagement looks like, and if you envision some expansion opportunities (future services), lay those out as well. Also cover:
• What are the biggest threats to your business model?
• What strengths are unique to your business – could you create a SWOT to show the reader?
• Who are you competing against most directly?
• How many support team members will you need, or is this a one-man show?
• Do you already know your capital needs?
You should be able to lay out your use of funds by category so that investors in your business know where the money will be going up front. It is also import to show a proposition of their share at start-up, even if it isn't a true offering per se. This analysis will require a complete pro forma model that includes a revenue forecast, profit and loss, break-even point, cash flow, balance sheet, and an appendix with the first year broken down by month. A sensitivity analysis and separate assumptions/ratios table is also a smart piece to include. MasterPlans has worked with a wide variety of tax businesses on their business plans and we can help you finish yours as well. Call a consultant today at 877-453-2011.
