May 18, 2024

Business Plan

by Michael Singh (author's profile)

Transcription

Michael Manjeet Singh, T-22165
R.j.d. (A4-126)
480 Alta Rd.
San Diego, CA 92179
5/1/24

Dear Between The Bars,

What's up to everyone out there!
I'm writing to share a copy of a business idea - a 26 page class assignment.
Please tell me what you think.

You can also text me by:
1. going to: gettingout.comm
2. Navigate to: PRISON R. J. DONOVAN
3. Enter my info to be registered: my name/cdc# Michael Manjeet Singh, T-22165

Business Plan Summary Cover Sheet

You must attach this cover sheet to your Business Plan Summary

Use this page as your cover sheet (or if necessary, you may create a similar cover sheet). This must be attached to your Business Plan Summary. This is the form your instructor will use to grade your report and will return to you with feedback. Have you included all of these things to make your Business Plan Summary the best you can?

This assignment is worth up to 150 points.

Print Name: Michael Manjeet Singh
Student ID Number: C02092528
Instructor: Elam, C.
5-Digit CRN: 43444

Business Plan Summary Sections | Points Earned
Introduction | /5
Executive Summary | /10
Mission Statement | /10
Product or Service Overview | /15
Value Proposition | /25
Customers | /15
Competitive Advantage | /15
Operations Summary | /15
Financial Viability and Breakeven Analysis | /25
College-level Writing and Professionalism | /15
Total Points Earned | /150

Instructor Comments and Grade:

- 25 - BUSINESS C141

Para Legal Unlimited Services (P.L.U.S.)
Michael Manjeet Singh #C-02092528
Business C-141 Introduction to Entrepreneurship
CRN #43444
4/15/2024

INTRODUCTION

Para Legal Unlimited Services (PLUS) is a full service document preparation company; customers provide basic necessary information, then we take it from there. PLUS then professionally and adeptly begins preparation of said document in a manner most advantageous to the client (with permitted use of their electronic signature). This venture will initially conduct with most (if not all) local business merchants and the rest of the surrounding community. PLUS has all of the necessary attributes as a professional document preparation company to attain consistent success: best prices, excellent customer service, multilingual (Hindi, Punjabi, and Spanish) services, great location (for target market) and the business owner born and raised in this very community.

Executive Summary

This marketing plan is for the business establishment PLUS services. Its orchestration is formulated by it's owner, Michael Manjeet Singh. This is a new business venture in its initial year, entering the market at the most opportunistic time. Inflation is high, money is tight and a genuine need exists for this necessary service, a feasible option at a very good price. Recent research has in fact shown a measureable, quantified increase in document filings at both: Alameda County Superior Court and Immigration Naturalization Services (INS) in San Francisco, CA. Additionally, a greater public interest for legal services without the exorbitant attorney fees for document preparation professionally done, in order to initiate various legal actions and file for U.S. Citizenship/Visas has been the recent trend.

Exec. Summ. Cont'd

Further, this enterprise will be an educational asset to the surrounding neighbor by also offering legal clinics and pro bono assistance to those in need. The variety of services ensures that most people across various spectrums can benefit from what PLUS has to offer. The surrounding community and business merchants serve as the initial atmospheric market. Additionally, product, pricing and promotion are compatible with geographic population. Over time and opportunity PLUS will increase services offered, expand service market options and grow into additional locations.

Mission Statement

We take care of the forms, so you can stick to your norms.
We put PLUS clients 1st and achieve a high level of success with our final, finished, professionally produced work product. We pay attention to detail and produce high level customer service with completion deadlines met. We speak your language!

Product/Service Overview

Product(s), Service(s) will be of high quality coupled with great customer service and dependable completion dates pertaining to deadlines. Prior to purchase, the customer has an initial purchase in mind. After placing order client sees newest technology in use, then also sees multiple service types offered, vast service areas and the multiple languages in which service is offered. All for a most cost efficient price. The multiple languages services is offered in: Hindi, Punjabi and Spanish. Various service areas include (but aren't limited to): notary public, document servers, courier services (drop-off/pick-up documents, the shop website (where special package are offered in deals) and wifi you wait for order in shop. Various fields of service are: (included but not limited to): taxes, wills, trusts, estates, financial (fafsa) aid forms, marriage, divorce, prenuptual agreements, social security, immigration, real estate, bankruptcy, contracts, business plans/proposals. Clients will see latest technology in use such as: laser printer, jet copier, jumbo document scanner, computer systems, modern production equipment (large banners, posters and signs). Areas of multilinguality: Hindi, Punjabi and Spanish. Marketing, advertising will occur via: Social media, the business shop website will list all services, prices and special rates/deals. Additionally, advertisements will be taken out in local community newspapers, Indian Newspapers, and The Indian Yellow Pages. Reliance will also be placed upon satisfied customers spreading "word of mouth" (merchants to their visiting customers, community to their family, friends).

Value Proposition

My business model will be: Direct Business - involving one-sided actors-users-becoming customers, (Once we conduct business on their behalf, they will see the benefits in conducting business with us: easy, very affordable, produce great work product, close by and in their, my (our) language). The Value Proposition Design: address/tackle difficult/expensive services that customers normally go to attorneys for and pay exhorbitant fees and expensive charges for. By obtaining forms, gathering needed info (customers) and strategically completing legal documents with adept skill and industry knowledge, it alleviates the stress of a legal document needing to be properly and thoroughly filled out; i.e. in English and effectively by a non-English speaker who can adequately convey info to/with client.

Value Proposition Cont'd

The value is: key info, correct documents obtained, knowing where to obtain them, skilfully and effectively filled out in a language foreign to an immigrant and the entire process explained to a client in their language (as they endure a new country's stressors, obstacles and barriers). In re: customer needs, we solve the clients needs of: language barriers, "Where do I get from?" "What do I say in them?" "Where do I send/file them?" All provided at the best rate for professional document preparation in skilfully obtaining positive results. All of the aforementioned is a product/service-relevant to successfully resolve client needs. Customers can expect to rely on: the benefits of no worries from intimidating forms. This issue will be resolved with skillful legal finesse, which will also serve as 'word of mouth' advertisement. My unique selling proposition, thereby my competitive advantage is the aforementioned above - cumulatively - as the high success rate, professionally done (obtaining documents, various forms, skilfully/adeptly) articulating customers position to place them in the most successful position to obtain the most favorable result (with all service to be provided in the language of their native tongue: Hindi, Punjabi or Spanish).

Customers

The shop is geographically located in the Indian Stores Area. The reason stems from the fact that it is a high frequency shop area and is close to where it can be visited by shoppers. Many shoppers visit the area to shop and 'find out' what's new. In so doing, often visiting family and relatives visit all new business ventures. Most all shoppers speak one of major Indian languages (Hindi or Punjabi). I too am Indian and speak my native tongue fluently. Therefore I'll be able to successfully conduct and negotiate full business transactions in my native tongue. Many immigrants visit the area looking for: jobs, services or opportunities. Some immigrants are: H1B-specialty skilled workers, others are visitors on a tourist VISA. Since I was born and raised in the area (Berkeley, CA), I personally know many of the store owners. This all translates to 'word of mouth' advertising and many references potentially creating a network of transactions. Also, I grew up playing sports in the area, am familiar with the Hispanic community and have many childhood acquaintances who still reside in the area, with their families. This is only considering local community people/visitors. Standing alone, my shop will also "subcontract" via attorneys who simply don't have the time to construct legalities on paper due to many court appearances. This proves some customers fit no profile. Whether an order for services is placed by a large merchant or simply one person, a dollar is the same, no matter whose hand spends it. Everyone can benefit from PLUS high quality, cost efficient professional services.

Competitive Advantage

An environmental assessment in the SWOT Business Analysis format is presented at the conclusion of this Business Plan Summary, S.W.O.T. is an acronym that represents the four letters, Strengths, Weaknesses, Opportunity, and Threats. Attracting and keeping competently trained Paralegals with a solid work ethic and is the common derivative of: great work product, impeccable customer service and offering a variety of fields within which we work can promote - via current clients word of mouth, i.e. free legal clinics and pro bono services for the indigent and/or English as a Second Language (ESL) community members by multilingual communication in various languages reflective of the local area: Hindi, Punjabi and Spanish. Also, the shop website will further attract orders by listing special prices and package deals. The immediate geographical area surrounding me presents no competition. Although there is a moderate competition level within the region, it is at much higher prices: attorneys cost two-thirds (2/3) more and other paralegals cost one-quarter (1/4) more. My business' competitive advantages are numerous and fall into four (4) categories. First, there's numerous service types offered: professional document preparation, notary public, document servers and courier services [(drop off, pick-up of documents) especially ADA/elderly clients]. Access to shop website and wifi for customers for completion of orders. Secondly, the various service areas (fields) are: taxes, wills, trusts & estates; financial (fafsa) aid forms, marriage, divorce, prenuptial agreements, social security, immigration, real estate, bankruptcy, contracts, business plans and proposals. Third, utilization of the latest technology. This will include but not be limited to laser printer, jet copiers, jumbo document scanners, up to date computer systems, modern production equipment (for large banners, posters and signs). Lastly, service can be provided in languages reflecting the surrounding areas. Hindi and Punjabi (of the Indian community) is available for the many Indian and business merchants/parties in the area. Additionally, Spanish is available for the many additional, surrounding Hispanic area residents and/or business ventures in the local area.

Operations Summary

Customers can be reached one of three ways: visit brick and mortar shop, shop website or pick-up/delivery services. Initially, a customer has two options to view service list and price list. This can be reached by said customer either visiting the shop website or the brick/mortar location. This will be after customer hears about us via: 'word of mouth' or seeing an ad in local community paper(s) or by seeing the shop visually. Generally speaking, the typical customer journey from initial contact to post-sales support will reflect: Initial customer contact - will be either a walk into PLUS store or visit the shop (PLUS) website. Numerous services offered by PLUS will be listed by categories which are: (various fields of service): taxes, immigration, wills, trusts, estates, financial (fafsa) aid forms, marriage, divorce, prenuptual agreements, real-estate, bankruptcy, contracts, business plans/proposals, (if it's not listed we can still do it, we just ran out of room). Once a purchase is made, the customer becomes a client. At a shop visit, the client/customer will see the latest technology used: laser printer, jet copier, jumbo document scanner, computer systems, modern production equipment (for large banners, posters and signs). Also, if visiting the site prompts questions (before order), clarifying answers can/will be provided. The potential client can also view the site, place the order and benefit from free courier service (pick-up/drop-off) of product/document. Document(s) will be prepared by a licensed/certified paralegal (as all of staff are) who will diligently undertake duties of the ordered work. Upon completion of the order, the original document will be timely filed (with clients electronic signature) or sent to the agency i.e. I.R.S./I.N.S. that will officially process the document. Two copies will be sent to client. Any follow questions are welcome.

Financial Viability & Breakeven Analysis

For purposes of this exercise, I will use simple round numbers so as to demonstrate a proficient understanding of the business terms utilized. There are also concepts used during this process, for which the specific definition is articulated immediately after its use. All of the necessary terms and quantified categories have been intentionally placed onto one page to facilitate a simultaneous viewing of all terms/numbers: as a principle in action.

Fixed and Variable Costs:

1* Fixed costs is a main category of costs. This includes expenditures with a non-changing cost: i.e. rent = $2000; insurance = $250; utilities = $250
Variable Costs: dependant of generated revenue level from sales. It is an unknown quantity that changes in value in accordance with revenue. Examples of this for a paralegal firm would be: cost of paper and ink = $5.00 Completed legal document packet = $105.00
2* Contribution Margin: gross profit derived from sale of a product (a legal packet completed) that goes toward paying other operating expenses. Once operating expense obligations are covered, any further revenue is (profit from each sold item - all added up together for a total sum) cumulatively added to profit. For example:
= (*Selling Price) - Legal Packet = $105 MINUS (*Variable Costs) Paper & Ink $5
Resulting *Contribution Margin of $100.00 per Legal Packet sold
3* Estimated Units (Sales) Needed: to be sold to cover operating expenses & not incur a loss.
If Rent = $2000; insurance = $250; utilities $250 =
= Cost coverage needed for: $2500.00
- Estimated number of legal packets (completed & filed) that need to be sold = 25 twenty-five units needing to be sold
4* Breakeven Point: units sold generating revenue to cover full costs.
- $2500.00 needs to be fully covered, to do so: see calculations below:
= Selling Price = $105 MINUS Variable Costs $5 = Contribution Margin $100
Contribution Margin of: $100 = Need to sell 25 units = Cost Coverage
= $2500 (covers: rent=$2000; insurance=$250; utilities=$250)
*25 units (@100 ea) = $2500 to cover all expenses - yield neither profit/loss.

SWOT Business Model Analysis

Internal Environment = Strengths & Weaknesses - under direct control of?

Strengths | Weaknesses
- Latest technological equipment | - High initial overhead costs
- Multilingual services: Hindi, Punjabi, Spanish | - High cost of labor
- High quality level services, work product | - Susceptible to staff defections
- Licensed staff, certified paralegals | - Limited cash
- Numerous additional ancillary services | - Low customer awareness level, weak public image
- Cost savings to clients: 2/3 less than
lawyers; 1/4 less than other paralegals

Opportunity | Threats
- We can expand current areas of service | - Completing paralegal forms
- We can enter new service markets | - "Do it yourself" websites
- Secure staff from competitors | - Financial crisis - recession
- Acquire already established firms
in possession of needed equipment

External Environment = Opportunity, Threats - outside market economic climate

SWOT Analysis Chart

[[see image]]

* Contemporary marketing, Boone & Kurtz, 2013, pg. 45

Awards this Certificate in
Legal Assistant/Paralegal
upon
Michael Manjeet Singh
who has fulfilled all the requirements prescribed by the School and is entitled
to all of the honors, rights and privileges thereunto appertaining.
In Testimony Whereof this recognition of achievement is
Given this 15th day of September 2020w

[signature] President
[signature] Director of Education

Blackstone Career Institute

Awards this Certificate in
Personal Injury/Torts
upon
Michael Manjeet Singh
who has fulfilled all the requirements prescribed by the School and is entitled
to all of the honors, rights and privileges thereunto appertaining.
In Testimony Whereof this recognition of achievement is
Given this 2nd day of August 2022

[signature] President
[signature] Director of Education

Blackstone Career Institute

Awards this Certificate in
Wills, Trusts, and Estates
upon
Michael Singh
who has fulfilled all the requirements prescribed by the School and is entitled
to all of the honors, rights and privileges thereunto appertaining.
In Testimony Whereof this recognition of achievement is
Given this 28th day of February 2023

[signature] President
[signature] Director of Education

Blackstone Career Institute
Est. 1890
Awards this Certificate in
Criminal Law
upon
Michael Manjeet Singh
who has fulfilled all the requirements prescribed by the School and is entitled
to all of the honors, rights and privileges thereunto appertaining.
In Testimony Whereof this recognition of achievement is
Given this 23rd Day of January 2024

[signature] President
[signature] Director of Education

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kat3005 Posted 2¬†weeks ago.   Favorite
Thanks for writing! I finished the transcription for your post.

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