Financial business plan

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Business plans serve as a success manual for entrepreneurs and operate as a road map for venturing down uncharted territory. The firm's success is determined by its capacity to create a realistic plan that considers market conditions (Swallow, 2012). Our company will be in the profitable business of financial planning, which I wish to enter in order to stand apart from what is already being provided. The operations, marketing, and management plans of the organization will be methodically guided by the plan of activities.

Plan of Action

The organization's long-term direction is to be directed by the strategy. The goal of the organization is to offer financial advice to people and a guide as to where they can put their savings to earn them returns. The market opportunity is promising as people have plans and need a place they can set aside funds for the future. The business will focus on all classes of individuals starting with those that can save minimally and those that have more money. Starting the business will take three months that will entail identifying a suitable location, furnishing the office and hiring appropriate staff. The strategic plan above is fundamental as it ensures all critical areas of running the business are covered in the short term and the long term. It enables us to do a SWOT analysis that identifies the strengths, weaknesses, opportunities and threats existing in the market. It allows the relevant stakeholders to think outside the box to ensure sustainability and growth (Abraham, 2012).

An important niche that the firm aims to fill is a market that is hungry to understand personal financial planning as a necessity. The market is offering a broad range of financial products ranging from stocks, bonds, and real estate. People have a need to utilize their savings to generate them a revenue that is fundamental to the preservation of wealth to be used for retirement or future projects. People lack a clear understanding of the products for which our experts will seek to deliver. Another key advantage is that people have millions of dollars in their accounts that we would assist in investing (Gerrans, & Hershey, 2016). Our mission is to deliver advice to clients that are realistic through professionalism and maintaining integrity in an efficient manner. The vision is the creation of a community of people that preserve and create wealth for financial freedom.

Company Description

Our company will be located in the city where the flow of clients is high and will be known as Finplan financial services. Location choice is due to the large number of people with minimal financial literacy and in need of our services. It will be a limited liability company with shareholding based on capital contribution by the partners.

The capabilities of the organization will lie on the expertise of the staff. The focus will be employing people who are certified in the finance field. Such certification creates confidence in people that their financial plans are based on facts and not just speculation. Research through technology will be applied to ensure we keep up with trends and new products that are lucrative to clients. The core of the business will be client centered on ensuring their needs are consistently met. We already have deep connections in the local market that provide exposure to acquiring potential customers and finances.

Products and Services

Our service will be based on client needs. We will sit in with our customers to understand together their financial situation. We will then understand what their goals are such as saving for retirement, for a project or putting their funds to better use. We will then advise on the most lucrative short term and long terms investment plans such as stocks, bonds, and real estate under which we will be allowed access to information. After the clients have put down their funds on various platforms, we will continually give progress reports to them and advise on necessary changes or adjustments. The financial situation of clients will be reviewed on a monthly basis and reports sent to the clients.

Financial Plan

Starting and running the business will require a capital contribution of $ 30,000. The money will be put down to the startup expenses of the firm as per the breakdown below (Figure 1).

Figure : Budget

Revenue will be generated through a commission based on the amount to be invested in a month and the level of engagement required by the clients. Licensing required to start operations is from the financial industry regulatory authority (FINRA). FINRA requires taking an exam to exhibit competence in the field.

Management and Staffing Plan

Operations at the start of operations will be run by five people where everyone will actively be involved in the functioning of the entity. The organization structure will be as per the organizational chart below (Figure 2). The financial advisors will be in charge of staying in contact with clients and advising on the progress of the business. The accountant will manage the financials of the entity and advice on profitability. They will all report to the financial manager who reports to the shareholders. I will serve the role of the financial manager since I have all the desired certifications required. I will be in charge of acquiring the business for the entity, and it is, therefore, critical that financial advisors report to me to ensure client needs are consistently being met and challenges handled adequately. Consultants such as lawyers will be hired on a need basis and paid consultancy fees based on the services offered. As the business expands, hiring will be done as necessary.

Figure : Organizational Chart


Abraham, S. (2012). Strategic planning (1st ed.). Bingley, UK: Emerald.

Gerrans, P., & Hershey, D. (2016). Financial Adviser Anxiety, Financial Literacy, and Financial Advice Seeking. Journal Of Consumer Affairs, 51(1), 54-90.

Swallow, J. (2012). Business plans - making them realistic and effective (1st ed.). Raleigh, North Carolina: Lulu Com.

February 01, 2023

Business Life Economics

Subject area:

Business Plan Money Budgeting

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