Business Plan and Entrepreneurship Analysis

This assignment delves into the world of business planning and entrepreneurship. It examines resources like 'How to Write a Business Plan' by McKeever and 'Business Plan Competitions' by Ross & Byrd, which provide insights into crafting effective plans. The analysis also covers entrepreneurial perspectives from texts like 'Entrepreneurship and Small Business Management' by Mariotti & Glackin and 'Risky Business?: Youth and the Enterprise Culture' by MacDonald & Coffield. Furthermore, it touches upon the influence of business plan competitions on new ventures, as explored in works by Thomas et al. and Turner & Suhr. Overall, this assignment provides a comprehensive look at the key elements involved in starting and growing a successful business.

Running head: BUSINESS PLAN OF STAFFING AGENCY
Business Plan of Career path Staffing Agency
Name of the University:
Name of the Student:
Authors Note:

1BUSINESS PLAN OF STAFFING AGENCY
1. Executive Summary
1.1. Company Identification
Career Path Staffing Agency is a recruitment agency that will be situated in Wisner
Street, Jackson in US. The company will be formed to develop a well connected colleague’s
network in the emerging company market niche along with being a sophisticated predictive
screening process. The company is deemed to attain success in the long run as it will offer
services to a number of offices in its business location (Abrams, 2013).
1.2. Mission of the Company
Mission of Career Path Staffing Agency is to contribute to the society through bringing
the gap regarding need of professional, specialised and contingent workers. The agency is
intended to offer workers with an independent a safe environment (Authority, 2016). It also has
the mission to offer businesses with employees having high caliber for permanent or contractual
work. Moreover, the mission of the company is also address individual needs and customizing
personal solutions for the employees and the businesses (Armstrong & Taylor, 2014).
1.3. Business Goals
In consideration to the mission statement of the company, two major business goals of
Career Path Staffing Agency are mentioned below:
 The goal of new staffing agency is to sustain positive and strategy growth
 Increase the overall never of referrals or repeat consumers by 7% in each quarter of the
year

2BUSINESS PLAN OF STAFFING AGENCY
1.4. Keys to Success
The major keys to success for Career Path Staffing Agency include:
 Maintaining accuracy in placements
 Anticipating future needs
 Servicing the needs of consumers
2. Company Summary
2.1. Industry History
In US, the staffing agencies are deemed to operate within the business services industry
that involves finding employees for client organizations. Different from the recruitment
organizations, staffing organizations majorly deal with contract based and temporary job
positions that us although not necessary exclusive (Berbegal-Mirabent, Gil-Doménech & Alegre,
2016). Staffing companies look for temporary staff in order to fill job positions for client
organizations that need staff for short term work assignments. From analyzing US staffing
industry it is gathered that such positions that are generally for less skilled jobs have certain
available vacancies for several reasons. These reasons include maternity leave, short duration
projects and high demand period in the organizations. Despite an employee working within an
organization, they tend to remain employees of staffing agency (Blackburn, Hart & Wainwright,
2013). This is not deemed to be the scenario for all positions for there is a chance that the
employee can be permanently hired by client organization. From analyzing the statistics of US
staffing agency, it is observed that the global staffing revenue is 428bn USD and the yearly
contract as well as temporary staffing employment is around 15.6m (Blank, 2013). It is also
evidenced that staffing industry revenue in US is around 133.3bn USD in which good work life

3BUSINESS PLAN OF STAFFING AGENCY
balance is the most attractive factor among millennial when they analyze international job
opportunities.
2.2. Legal Form of Ownership:
Major business decision that has to be taken by Career Path Staffing Agency is to identify
the most suitable legal form of ownership that will be taken by the company. Major decision
about the new business will be structure of the company as such decision is deemed to have
long-term implications (Burin, Roberts-Lombard & Klopper, 2015). This new staffing agency
will start its business as sole proprietorships. In this legal ownership for, the staffing agency will
be owned by just one individual who will be responsible for running of overall business. Being a
sole proprietor, Career Path Staffing Agency will own all its business assets long with profits
generated by the company (Cant, 2016). The company will also consider overall responsibility
for the company’s debts and liabilities. This legal form of ownership is selected for the new
business for the reason that it is the simplest and less expensive ownership form t organize.
Being a sole proprietor, Career Path Staffing Agency can be in total control and within the law
parameters and the company can make decision as per its suitability (Coe & Ward, 2014).
2.3. Location and Facilities:
Career Path Staffing Agency will be situating in newly renovated building designed by
architectural company in Wisner Street, Jackson in US. This facility will be segmented equally
between a staffing agency function along with the recruitment options (Correll et al., 2016). The
staffing agency will feature separate rooms in a building for different services such as counseling
services, recruitment services and employee training services. The rooms will have enough space
for 100 patrons to sit along with indoor/outdoor patio seating for additional 40 patrons.

4BUSINESS PLAN OF STAFFING AGENCY
2.4. Management Structure:
In several settings, the proprietor of Career Path Staffing Agency has efficient
management experience (Feenstra, 2014). The proprietor has the skills of being a good listener
and has the capability to draw out an individual’s needs by open-ended questions along with
having the capability to identify strengths and weaknesses of people. The person has a long
successful experience along with knowledge gathered over past 18 year’s professional working.
A great deal of “people” skills has been gathered during seven years spent in management roles
(Galai, Hillel & Wiener, 2016). Such long term experience with different background supports
the objectives of Career Path Staffing Agency. The company also plans to add a part-time office
staff and an employment specialist. In response to rapid staffing industry growth in US, the new
company will have manual procedures for in-house staff that makes sure information remains
clear. The management structure of this new staffing agency will include general and
administrative personnel, office employees and the proprietor (Galbraith, DeNoble, Ehrlich &
Horowitz, 2013).
2.5. Products and Services:
Career Path Staffing Agency is positioned exceptionally for attaining advantages of the
market opportunity due to the management and the proprietor’s field expertise (Leigh & Blakely,
2016). Sarah Gomes has working experience in temporary working industry for over three years
in association with ADIA personnel services and area account manager. The services of this new
staffing industry includes hiring employees, building business relationships, dealing with
employee concerns, working with consumers at the time of ADIA implementation along with
opening another office in Wisner Street, Jackson in US (Ghezzi, Cavallaro, Rangone & Balocco,
2015). Services are offered regarding excellent hiring, reviewing and offering incentives other

5BUSINESS PLAN OF STAFFING AGENCY
the salary. The company provides difficult cluster of services to different populations. Career
Path Staffing Agency is deemed to serve businesses through associating them with businesses,
such service will have no charge and these are services are not provided by any other
employment agencies. Most notable success of the proprietor is to bring down a branch of
Cellular West situated in Wisner Street, Jackson in US (Håkansson & Isidorsson, 2015). To
attain high revenues, the new staffing agency will employ motivational tools and provide sales
force with increased training. The company offers regular evaluations after checking the same
with worker and supervisors along with guiding them with trouble shooting or any needed
problem solving.
3. Market Analysis
3.1. Target Market:
The target market for Career Path Staffing Agency can be broken down into two major
segments that include the employee and the business market segment and both of these segments
are deemed to be lucrative (Kiznyte, Welker & Dechange, 2016). The two major target market of
the ne staffing agency are explained under:
 Business market targets- Major target market of Career Path Staffing Agency includes
offices in Wisner Street, Jackson in US region along with the non-profit companies, the
advertising sector, the publishing sector along with other large businesses (Liu, 2016).
 Employee target market- graphic artists, editors/writers, computer specialists, and fund
raisers, event planners along with language interpreters or translators working within
business target markets. The target market also includes certain job applicants with
exceptional talents and skills.

6BUSINESS PLAN OF STAFFING AGENCY
Based on the needs of the target consumer segments, the new staffing agency will focus
on positioning itself as a local company that is less expensive than an agency or consultant and
provides for both long-term needs and project (MacDonald & Coffield, 2015). The company will
target consumer segments those prefers easy pay and billing rate system which covers employed
payroll and insurance related with workers compensation. The target market segments of the new
staffing agency also include high tech and non-high tech companies. The high-tech companies
deals with certain factors of technology such as manufacturing or design (Mariotti & Glackin,
2014). These companies recently made up over 80% of the top 20 rapidly growing organizations
in Cellular West situated in Wisner Street, Jackson in US. Moreover, the non-tech company’s
category that is emerging is much smaller than the high tech organizations that must be
considered. There are several rapidly growing companies in this target segment and the executive
might be capable to solve them (Makeover, 2016).
3.2. Industry Analysis:
Staffing, recruitment and workforce solutions sector in US makes a major contribution in
its economy with offering excellent career and job opportunities for more than 15 million
employees each year. As per economic forecasters, employment agencies and financial services
in US are anticipated to have an increased industry growth in the upcoming 25 years (Parker et
al., 2016). Such trend towards businesses cutting knack on the employees along with their
advantages because of increased costs can generate high demand for Career Path Staffing
Agency services. In addition, from analyzing staffing industry in US, several companies in
Wisner Street, Jackson in US are not being served in the recent years. From the industry statistics
it is gathered that while permanent employment remains the highest priority for all staffing
employs, few of them also consider cite scheduling flexibility as vital reason for selecting

7BUSINESS PLAN OF STAFFING AGENCY
contract and temporary work (Rosenstock, 2016). In US, there are more than 20,000 staffing and
recruitment organizations that operates in more than 39,000 offices. More than 55% companies
along with 74% offices remain in contract or temporary staffing sector of US.
Staffing companies look for temporary staff in order to fill job positions for client
organizations that need staff for short term work assignments. From analyzing US staffing
industry it is gathered that such positions that are generally for less skilled jobs have certain
available vacancies for several reasons (Ross & Byrd, 2015). These reasons include maternity
leave, short duration projects and high demand period in the organizations. Despite an employee
working within an organization, they tend to remain employees of staffing agency. This is not
deemed to be the scenario for all positions for there is a chance that the employee can be
permanently hired by client organization. From analyzing the statistics of US staffing agency, it
is observed that the global staffing revenue is 428bn USD and the yearly contract as well as
temporary staffing employment is around 15.6m (Schaper, Volery & Gibson, 2014). It is also
evidenced that staffing industry revenue in US is around 133.3bn USD in which good work life
balance is the most attractive factor among millennial when they analyze international job
opportunities.
3.3. SWOT Analysis:
SWOT analysis is conducted for analyzing the strengths and weaknesses of Career Path
Staffing Agency services along with examining the opportunities and threats faced by the new
staffing agency in US.
Strengths
 Highly effective networking web in the
Weaknesses
 Poor initial cash flow

8BUSINESS PLAN OF STAFFING AGENCY
community
 Predictive and sophisticated screening
processes
 Industry insight relied on certain
pragmatic experience
 Lack of company brand equity that is a
function of a start-up company
 The inability to rapidly scale
Opportunities
 Participation within a rapidly growing
industry
 Decreased overhead
 The capability to decrease fixed costs
for each scale with advancement of
businesses
Threats
 Lack of ensured safety in case of
industry downturn
 Attractiveness of the industry has
encouraged entry of new entrants
because of which competition has
increased
 Strengths- Opening a new staffing agency within the selected location with a huge job
market requires temporary workers as strength.
 Weaknesses- Variations in job market that considers decreasing staff and no further
temporary employees can pose a threat for the company (Snell, Morris & Bohlander,
2015).
 Opportunities- New laws that need employees to attain at least 50 employees for
offering insurance to all the staff might present an opportunity for the agency.
 Threats- In presence of new healthcare laws, it depends on the way in which IRS
interprets law that indicates health insurance must be provided for the workers. This
might pose a threat to the new staffing agency increased profit is provided to healthy
insurance (Stark, 2016).

9BUSINESS PLAN OF STAFFING AGENCY
4. Market Strategy
4.1. 4Ps:
Marketing mix elements are developed for Career Path Staffing Agency in order to attain
competitive advantages and for positioning its brand along the target market.
 Product- The new staffing company will offer staff hiring and human resource
consulting services. Moreover, the company will work with its exceptional specified
paradigms that will lead to growth of the new business (Correll et al., 2016). The staffing
sectors that will be covered by the company are office, technical, legal, financial and
industrial. The company will offer entrepreneur environment with access to efficient
employees and it is highly specific regarding the programs run by it.
 Price- The staffing agency will follow tiered pricing strategy that will be relied on
credentials needed for every personnel category along with related experience (Correll et
al., 2016). This will be along with the demands of a position filled by an employee while
accepting a job position in a company.
 Place- The Company will offer talent development services along with making sure that
the new employees are prepared to face the competitive world. The company will try to
develop a rapport with employed as well as un-employed target candidates all through
Wisner Street, Jackson in US. The company will also offer its services through internship
at reputed companies (Correll et al., 2016). The company will offer ambitious jobs in the
contemporary world.
 Promotion- Promotional strategy of the company will be focused on networking and
advertising. Advertising will be done through certain local journals that cater to the
flourishing businesses. The major objective of such advertisements is to increase

10BUSINESS PLAN OF STAFFING AGENCY
visibility for employees searching for suitable companies for a job (Correll et al., 2016).
Advertisements through social media channels particularly LinkedIn can make the
promotional strategy effective to bring companies and clients together. Networking
promotional strategy will facilitate the company to spread the brand name of the new
staffing agency among target companies and candidates looking for jobs.
4.2. Price List:
The staffing agency will follow tiered pricing strategy that will be relied on credentials
needed for every personnel category along with related experience. This will be along with the
demands of a position filled by an employee while accepting a job position in a company
(Berbegal-Mirabent, Gil-Doménech & Alegre, 2016).
Staffing service Contracted Project based
Online training $ 445 for 4 employees $ 102 for each employee
Educational courses $ 320 for each employee on
yearly subscription
$ 130 for each course
Employee development programs $ 120 for every development
program
$ 142 for each program
Acquisition and retention of
human capital process
$ 135 for every hour $ 115 for every hour
Consulting services on health and
retirement
$ 135 for every hour $ 125 for every hour

11BUSINESS PLAN OF STAFFING AGENCY
4.3. Promotional Strategy:
Promotional strategy of Career Path Staffing Agency is focused on attaining a
competitive edge (Storey, 2014). When the business will be contracted and expressed interest in
contingent employees that it can provide, the following procedures will be considered:
 Consulting with consumers and generating a follow-up plan
 Completing the contract along with client and job sheet within the database
 All of them are pointed and forwarded with a copy of job sheet within yellow paper to the
employment consultant
 Matches will be searched from the database and all the folders similar to it will be
considered
 Consumers will be contacted through e-mail, fax and resumes will be considered for
review
Promotional strategy of the company is focused on sending emails and posting n social media
sites regarding benefits of signing up as service provider and attracting emerging companies.
Developing attraction for the emerging companies will be relied on ability of communicating
competitive advantages and the way they translate them into identifying qualified employees.
The marketing strategy will develop interests of the company and will be aligned with sales
strategy. This will be ensured through promoting via social media that the new staffing company
will offer superior consumer service relied on interpersonal communication skills. The
promotional strategies of the company will focus on inquiring more information through
developing a website that will also communicate comprehensive information collection
regarding services and the facilities that are provided by Career Path Staffing Agency.

12BUSINESS PLAN OF STAFFING AGENCY
4.4. Sales Forecast:
Sales forecast of Career Path Staffing Agency anticipates that sales for the company will
gradually increase over twelve months. Such sales forecast is developed based on analyzing
market conditions in the first year of its business (Thomas et al., 2014). Base on the sales
forecast effective sales strategy is developed by the company for the employees those seek to
work for it. This is explained below:
 Complete professional’s form within database.
 Employees are screened for analyzing their experience levels that need professional
experience in all aspect they desire to work (Berbegal-Mirabent, Gil-Doménech &
Alegre, 2016).
 A file for each employee is generated along with necessary paperwork with a copy of
professional’s form.
O
Oct
N
Nov
D
Dec
J
Jan
F
Feb
M
Mar
A
ar
M
ay
J
Jun
j
Jul
A
Aug
S
Sept
$
0
1
2,000
1
80,00
0
3
15,000
4
16,24
4
4
92,18
0
5
49,13
2
5
91,852
6
23,88
0
6
47,91
6
6
65,928
6
79,45
2

13BUSINESS PLAN OF STAFFING AGENCY
5. Implementation Strategy
5.1. Overall Strategy:
Marketing stratrgy of Career Path Staffing Agency will be focused on both the
professional and business workers. Strategy of targeting consumer base will be through cold
calling and networking. Moreover, marketing strategy of the company will also be developed
through targeting small business with fewer employees (Turner & Suhr, 2014). This is for the
reason that smaller businesses might not have the capability to evaluate, locate and appoint
potential professional employees through conducting public relations campaign.
Another strategy of the new staffing company is to join multiple business groups. Joining
such groups and attending meetings on monthly basis can increase its client base. Moreover, cold
calls can be highly effective in boosting business profits and increasing consumer base. This can
be done through brochure and business card (Tyson, 2014). Cold calling strategy can facilitate
the new company in attaining information regarding the inner of employees a targeted company
has, employees experience in certain aspects and the need for professional contingent staff.
Another strategy of Career Path Staffing Agency is to offer businesses with customized
personal solutions through connecting them with professional contingent employees. The new
staffing agency will develop strategies to develop an employee labor pool (Ward, 2016). It will
draw from a labor pool of qualified employees that includes people those work at home, retirees
and people looking for part-time jobs.
Goals for Implementation Target Date
Meet with attorney to file all required
organization paperwork
December 31, 2015

14BUSINESS PLAN OF STAFFING AGENCY
Obtain Business License January 31, 2015
Open Business checking account February 15, 2015
Join Chamber of Commerce March 15, 2015
Set up Website/Email April 15, 2015 – Go live by 3/1/15
Set up home office May 15, 2015
5.2. Monitoring Plan:
Tracking major metrics as indicated in the table below can facilitate in analyzing the
effectiveness of company’s goals and objectives. In addition, developing a tracking system can
facilitate the company in monitoring achievement of business goals (Wynne, 2016). Such goals
include attaining desired revenue per month, tracking revenue on weekly basis so that control
process can be developed and strategies can be modified. Along with the below mentioned
performance monitoring metrics, there can be other metrics that can facilitate the company in
attaining desired business profit goals. Such aspects include increased market research, market
competition and proper revenue projections (Yu & Wiklund, 2015). These aspects are to be
motored yearly, monthly or weekly for developing effective profit making strategies as these
aspects are subject to rapid change.
Monitoring Activity Frequency Responsible person
Monitor pricing and profits to
make sure that the company is
performing well
Quarterly Tom Ericson
Business statistics and analyzing
consumer demands can explain
the popular things
Monthly Smith Greg

15BUSINESS PLAN OF STAFFING AGENCY
Surveys on the target market
must be conducted to observe the
effective strategies.
Yearly Stella Michelson
Monitor the most used channels
for offering staffing services and
consider investing in the most
profitable ones.
Quarterly Greg Delon
6. Financial Statements and Projections
6.1. Forecasted Profit and Loss Statement

Running head: BUSINESS PLAN OF STAFFING AGENCY
Projected Profit & Loss Statement for 1st Year:-
Particulars 1st
Mo
nth
2nd
Mo
nth
3rd
Mo
nth
4th
Mo
nth
5th
Mo
nth
6th
Mo
nth
7th
Mo
nth
8th
Mo
nth
9th
Mo
nth
10th
Mo
nth
11th
Mo
nth
12th
Mo
nth
T
O
T
A
L
Sales Revenue 412
00
412
00
412
00
420
24
420
24
424
44
424
44
424
44
424
44
424
44
437
18
437
18
50
73
04
Cost of Sales:
Purchase of
Supplies
$8,
000
329
6
329
6
336
1.92
336
1.92
339
5.53
9
339
5.53
9
339
5.53
9
339
5.53
9
339
5.53
92
349
7.40
54
349
7.40
54
45
28
8
Add: Opening
Stock of
Supplies
$0 $40
0
$49
4
$49
4
$50
4
$50
4
$50
9
$50
9
$50
9
$50
9
$50
9
$35
0
52
94
Less: Closing
Stock of
Supplies
$40
0
$49
4
$49
4
$50
4
$50
4
$50
9
$50
9
$50
9
$50
9
$50
9
$35
0
$52
5
58
18
Supplies
Expenses
$7,
600
$3,2
02
$3,2
96
$3,3
52
$3,3
62
$3,3
90
$3,3
96
$3,3
96
$3,3
96
$3,3
96
$3,6
57
$3,3
23
44
76
4
Salary to Direct 120 120 120 120 120 120 120 120 120 120 120 120 14

1BUSINESS PLAN OF STAFFING AGENCY
Staffs 00 00 00 00 00 00 00 00 00 00 00 00 40
00
Total Cost of
Sales
$19
,60
0
$15,
202
$15,
296
$15,
352
$15,
362
$15,
390
$15,
396
$15,
396
$15,
396
$15,
396
$15,
657
$15,
323
18
87
64
Gross Profit $21
,60
0
$25,
998
$25,
904
$26,
672
$26,
662
$27,
054
$27,
049
$27,
049
$27,
049
$27,
049
$28,
061
$28,
395
31
85
41
Salary to
Support Staffs
370
0
370
0
370
0
370
0
370
0
370
0
370
0
370
0
370
0
370
0
370
0
370
0
44
40
0
Commission to
Direct Staffs
103
0
103
0
103
0
105
0.6
105
0.6
106
1.10
6
106
1.10
6
106
1.10
6
106
1.10
6
106
1.10
6
109
2.93
92
109
2.93
92
12
68
3
Electricity 250
0
200
0
200
0
200
0
200
0
200
0
200
0
200
0
200
0
200
0
200
0
200
0
24
50
0
Telephone &
Internet
150
0
900 900 900 900 900 900 900 900 900 900 900 11
40
0
Stationery
Charges
100
0
412 412 420 420 424 424 424 424 424 437 437 56
61

2BUSINESS PLAN OF STAFFING AGENCY
Legal Fees &
Registration
724
0
0 0 0 0 0 0 0 0 0 0 0 72
40
Software
Installation
$25
0
0 0 0 0 0 0 0 0 0 0 0 25
0
Rent 370
0
370
0
370
0
370
0
370
0
370
0
370
0
370
0
370
0
370
0
370
0
370
0
44
40
0
Advertisement $6,
000
$3,0
00
$1,5
00
$1,5
00
$1,5
00
$1,5
00
$1,5
00
$1,5
00
$1,5
00
$1,5
00
$3,0
00
$3,0
00
27
00
0
Insurance 350 350 350 350 350 350 350 350 350 350 350 350 42
00
Cleaning
Charges
550 550 550 550 550 550 550 550 550 550 550 550 66
00
Depreciation on
Equipments
729 729 729 729 729 729 729 729 729 729 729 729 87
50
Depreciation on
Furniture &
Fixtures
750 750 750 750 750 750 750 750 750 750 750 750 90
00
Depreciation on
Office
Equipment
146 146 146 146 146 146 146 146 146 146 146 146 17
50
Misc. Expenses $30
0
$30
0
300 600 600 700 700 700 700 700 750 750 71
00
Interior Cost $50 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 50

3BUSINESS PLAN OF STAFFING AGENCY
,00
0
00
0
Total
Operating
Expenses
797
45
175
67
160
67
163
96
163
96
165
11
165
11
165
11
165
11
165
11
181
05
181
05
26
49
34
Net Profit
before Interest
& Tax
($5
8,1
45)
$8,4
31
$9,8
37
$10,
276
$10,
266
$10,
543
$10,
538
$10,
538
$10,
538
$10,
538
$9,9
55
$10,
290
53
60
7
Less: Interest
Expenses
172
5
172
5
172
5
172
5
172
5
172
5
172
5
172
5
172
5
172
5
172
5
172
5
20
70
0
Net Profit
before Tax
($5
9,8
70)
$6,7
06
$8,1
12
$8,5
51
$8,5
41
$8,8
18
$8,8
13
$8,8
13
$8,8
13
$8,8
13
$8,2
30
$8,5
65
32
90
7
Less: Income
Tax Expenses
@11%
0 $73
8
$89
2
$94
1
$94
0
$97
0
$96
9
$96
9
$96
9
$96
9
$90
5
$94
2
10
20
5
Net Profit for
the Period
($5
9,8
$5,9
69
$7,2
20
$7,6
11
$7,6
02
$7,8
48
$7,8
44
$7,8
44
$7,8
44
$7,8
44
$7,3
25
$7,6
23
22
70

4BUSINESS PLAN OF STAFFING AGENCY
70) 1
6.2. Forecasted Balance Sheet
1st Year
Particulars Amount Amount
ASSETS
Cash in Hand $40,000
Closing Stock of Supplies $525
Security Deposit for Premises $27,000
Total Current Assets $67,525
Equipment (at Cost) $35,000
Less : Accumulated
Depreciation -$8,750 $26,250
Furniture & Fixtures $60,000
Less : Accumulated
Depreciation -$9,000 $51,000
Office Equipment $35,000
Less : Accumulated
Depreciation -$1,750 $33,250
Total Non-Current Assets $110,500
TOTAL ASSETS $178,025
LIABILITIES:-
Accounts Payable $874

5BUSINESS PLAN OF STAFFING AGENCY
Accrued Expenses:
Salary of Direct Staffs $12,000
Salary to Support Staffs $3,700
Commission to Staffs $1,093
Electricity $2,000
Rent $3,700 $22,493
Income Tax Payable $10,205
Total Current Liabilities $33,573
Loan from Bank $230,000
Total Non-Current
Liabilities $230,000
TOTAL LIABILITIES $263,573
NET ASSETS -$85,548
EQUITY:-
Owner's Capital $50,000
Reserves and Surplus $19,301
Retained Earnings $20,000
TOTAL EQUITY $ 89,301

6BUSINESS PLAN OF STAFFING AGENCY
7. Financial Report
7.1. Financial Projections:
After analyzing the balance sheet along with P&L statements, it is recommended to the
company that the company will start its small staffing business and operate it for two years
through maintaining operating costs of $ 79745 and $ 17567 in the first two months. This
initiative will be taken by Career Path Staffing Agency for making sure that it develops an
efficient and large consumer base that can facilitate it in establishing its brand name. Staffing
industry in US is observed to be increasingly competitive and so for the new company’s success
it might have to deal with new competitors that comes with similar business ideas (Galai, Hillel
& Wiener, 2016). From analyzing the forecasted balanced sheet and P&L statement, the
management of new company will decide to draw minimum salary in the initial two months.
Considering the same, the company can invest $40,000 in cash to address losses that it could face
in the first year of its business. Operating profit and sales of Career Path Staffing Agency can be
highest in the 12th month (November) and lowest in the 1st month (December).
7.2. Financial Position:
At the end of Career Path Staffing Agency’s twelve months business, the company is
deemed to gain profit of $ 21600 in the first month and $ 28395 in the twelfth month. Observing
such results, it is indicated that the new staffing business company will gradually attain increased
profits after experiencing loss in the initial two months (Galai, Hillel & Wiener, 2016). Realizing
that the small businesses overextend themselves in beginning business financially, the company

7BUSINESS PLAN OF STAFFING AGENCY
must take a careful decision for concentrating on establishing its brand and operating business in
smaller scale.
7.3. Estimated Capital/Investment Needs
From the table below, it is gathered that the owner plans to invest $280,000 in its
business startup through careful consideration of all expenses. However, it is also estimated that
if the company extends its operations in the future years, it might need a loan in the future years.
The company does not require excess capital in the initial months of its business (Galai, Hillel &
Wiener, 2016). The investment table makes sure that that the start-up capital for covering start-
up expenses and initial losses.
INITIAL INVESTMENT:-
Particulars Amount Amount
Registration Cost:-
Business Registration Charges $80
Domain Name & Logo
Registration Charges $60
License for Operation $2,100
Solicitor's Fees $5,000 $7,240
Set-Up Cost:-
Security Deposit for Rented
Premises $27,000
Interior Cost $50,000
Equipment $35,000

8BUSINESS PLAN OF STAFFING AGENCY
Furniture & Fixtures $60,000
Office Equipment $35,000 $207,000
Operational Expenses:
Purchase of Supplies $8,000
Security Deposit for Electricity $2,000
Telecommunication $900
Software Installation $250
Advertisement & Promotion $6,000
Stationery Items $1,000
Other Misc. Expenses $300 $18,450
TOTAL INITIAL
INVESTMENT $232,690
Capital Contribution by
Partners:
Owner's contribution $50,000
Loan from Bank @2.47%
Interest p.a. $230,000
TOTAL CAPITAL $280,000
Balance Fund in Hand $47,310

9BUSINESS PLAN OF STAFFING AGENCY
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