The business plan for CPA firm describes an industry that's well known and has a wide body of research in support of it. Accounting is a major field, in the US and aboard, and as such you should be able to pinpoint helpful data for both the market analysis portion and for the financial model itself. If you already have a CPA business underway, you should consider showing the past performance of the business – this is typically accomplished by including a summary table and graph that give an overview of three years of P&L statements and balance sheets. If your CPA firm will be a start-up, emphasize that you'll have the certifications in place to make it work – showing in the management section that you will have CPAs on staff and/or a strong advisory board will help your plan along its course to funding. Other topics that should be covered in your business plan:
How many CPA firms are there in the region?
Which will be your closest competitive comparables?
What industry stats in support of the market opportunity are the most compelling?
How many employees will you have, and when will new hires come onboard and at what pay rates?
What amount of seed/expansion capital do you need?
The business plan for a CPA firm should also show the anticipated use of funds as exactly as possible, along with a break-even point for the infusion and, as appropriate, a loan repayment schedule or equity share going out to investors. The business plan needs to offer some ideas for how you will market to customers, give a sense of the potential scope of clientele in the area, and concisely describe each of the service elements common to your firm. Finally, a full pro forma providing a revenue forecast, a profit and loss statement, a cash flow and break-even analysis, and a balance sheet is imperative. (A monthly breakdown for the financials in year one post-funding is also a requirement of the SBA.) Want to learn more about this sort of business plan? Call in the experts. MasterPlans has written dozens of successful CPA business plans over the years, and our group of in-house writers and modelers can deliver a great plan to you in as little as two weeks. Call us today: 877-453-2011.
