Max Greenwood CPA in Chicago, Illinois is the owner and operator of The Sorcerer’ s Accountant. The firm provides small-business clients with tax accounting, management accounting, QuickBooks setup and training. To expand beyond a single person business, the company will also offer bookkeeping services for smaller businesses. This will require investments in marketing and staff to increase the business’s expansion to this new business. This business plan organizes strategy and tactics for business expansion, and sets objectives for growth over three years.
The company will provide bookkeeping services to clients with the supervision of a CPA at an affordable price. This involves the hiring of undergraduate students as bookkeepers and graduate students as managers. Fixed costs are kept as low as possible and Sorcerer’s Accountant continues to expand its expertise through its website resources. The effect will be sales more than doubling over three years as 8 part-time bookkeepers are deployed to client businesses as needed, and salary and dividends to Greenwood increase substantially.
The Sorcerer’’s Accountant plans to launch a new service -#8211 small business bookkeeping -#8211 – which will be offered the same clients that Sorcerer’s Accountant currently offers.
Sorcerer’s Accountant has set the following objectives:
- To launch the bookkeeping business slowly, you will need two part-time bookkeepers
- Bookkeeping service revenue equal to or greater than the total revenues in three years (effectively, doubling revenue).
- To achieve net profit of $60,000 in three years
- To hire 8 part-time bookkeepers within three years
The Sorcerer’’s Accountant offers a full range of tax and management accounting services to small business owners in Chicago, Illinois. They help them not only to save money and comply with tax laws but also to make good management decisions using their numbers.
Keys to Success
These are the keys to success in an accounting business:
- Building trust between clients
- CPA education and certification on accounting practices and laws.
- Beyond saving clients money, we also suggest ways to increase our clients’ revenues
- Transparency, reporting and taxes: Legal and ethical considerations