The money transfer business plan shows the profit potential of a business model that facilitates the movement of money, typically between individuals, for a modest processing fee. The ability to capitalize on differences in exchange rates is also an important part of the money transfer business model. For your business plan, describe in detail the services you offer and outline any ancillary or future services that could be introduced. Pre-paid cards, phone calling cards, and small personal items are commonly also sold at these locations, and can help bolster revenues. Other important questions for your business plan include these:
• What is the primary competition you face (Western Union, Moneygram, regional players, etc.)?
• Can you provide helpful stats about the growth rate of your industry or the expansion of your business since its inception?
• Who will be on the management team and what roles will each person play?
• How will you market your money transfer services -- online, point of sale displays, etc.?
• Do you have any industry or affiliate relationships worth exploring?
Money transfer businesses make their money on a simple business model, so preparing a decent plan is not difficult. Preparing a great plan, however, is very hard. If you need global research, an assumptions-driven financial model, a compelling presentation of past performance, and a dedicated team and project manager, call MasterPlans. We have written for several money lending and money transfer businesses since we started in 2002. We can deliver you a great business plan in about 2 weeks. Call 877-453-2011 today!