Electronic Detectives, Inc. helps lawyers identify, acquire, restore, and analyze electronic data in litigation. Our full-time, certified forensic discovery and testifying specialists are well-versed in acquiring data, including tape restoration and hard drive imaging. As experts, our testimony will shape electronic discovery.
Electronic Detectives will be limited liability corporation, registered in Delaware for tax purposes. The company does not plan on going public and has only a few private investors. The company’s main office is located in Portland, Oregon. The companyâ€™s main clients will be law firms requiring identification, restoration, and analysis of electronic data.
47% of company shares will be held by private investors. The rest will be owned by the senior management including Mr. David Radcliffe, (20%), Mrs. Julie Walters (10%), Mr. Brad Rinke (15%), and Mr. William Orcott (7%). All other financing will be made possible by loans.
Electronic Detectives employs experts who are familiar with all commercial operating systems, including Unix, Linux and Novell. Electronic Detectives can assist with 30(b)(6) depositions. They will also go on-site to take inventory data and find hidden sources. To protect clients, the company plans to keep well-recorded chains-of custody. Written procedures and protocols ensure that all jurisdictions can examine our work. We will present detailed analyses, written reports and presentations to support our conclusions. We also have a wealth of experience providing expert testimony in federal and state court.
The electronic evidence-gathering business is an offshoot within the detective trade. As such, it is very new and difficult to collect market information. A glance at the profitability of a competitor will give you an idea about the potential profit and growth of this market. Computer Forensics of Bellevue, WA has been in business for four years now and has experienced explosive growth averaging 40% per year. The company’s net worth has risen to 65%, despite significant investment. This is a clear indication of the market’s potential growth and demand. This market is highly desirable and you can enter it now to gain a position that is strong based on customer satisfaction.
Considerations for Financial Planning
According to our estimates, we’ll begin to make monthly profit in November of the first and yearly profits in December of the third year. Electronic Detectives has received an additional $60,000 credit loan in the event that our predictions prove to be wrong. We need to complete six new projects per month in order to meet our monthly break-even. In the next three years, we plan to continue to generate positive cash flow and pay off our various loans.
The three year goals for Electronic Detectives are the following:
- Break-even achieved by year 2.
- Get 40 clients from law firms by the end year three.
- Establish minimum 95% customer satisfaction rate.
- Project completion in 10 days or less
1.2 Keys to Success
The keys to long-term survival and profitability for Electronic Detectives are:
- Attracting and maintaining the best computer science talent, and building close relationships with companies and institutions that do the most advanced research in computer security.
- Keeping close contact with clients and establishing a well functioning long-term relationship with clients to generate repeat business and a top notch reputation.
- Establishing procedures to ensure rapid, accurate retrieval of information, and client processing.
Electronic Detectives is dedicated to setting a new standard in detective work. Computers and the Internet have allowed for personal and business communication as well as data storage. Much of the court evidence required is stored on computers or PDA’s. These include personal files, emails, picture formats and other forms. There are currently very few companies offering investigative services to firms or institutions that need such information.
Electronic Detectives aims to be the market leader in providing customer service standards, prompt recovery, timeliness, professionalism and quality that will allow it to achieve significant market share.