Business Plan Report: FuturProfit Pty Ltd Expansion in Washington D.C.

This report presents a comprehensive business plan for FuturProfit Pty Ltd, focusing on its expansion into Washington, D.C. It begins with an introduction highlighting the competitive landscape and the company's strategic move to leverage AI, cloud computing, and blockchain technologies. The report includes an analysis of the advantages and disadvantages of leasing commercial property, followed by a business model canvas outlining key activities, partnerships, customer segments, and revenue streams. A detailed market analysis summarizes the small business accounting market in Washington, D.C., including the competitive environment and opportunities for growth. Management strategies focus on staff training, including onboarding, technical skill development, and leadership sessions. The report also outlines strategies to enhance business performance through online marketing and specialized service teams. Financial projections estimate revenue growth. The report concludes by emphasizing the importance of strategic planning and adaptation in a competitive market, and provides references and appendices including profit and loss and balance sheets.

Running Head: Business Plan 0
Business Plan
(Student Name)

Business Plan 1
Table of Contents
Introduction......................................................................................................................................2
Advantage and Disadvantage of leasing commercial property.......................................................2
Advantages...................................................................................................................................2
Disadvantage................................................................................................................................2
Business Model Canvas...................................................................................................................2
Market Analysis Summary..............................................................................................................4
Management Strategies....................................................................................................................5
Staff Training...............................................................................................................................5
Strategies to enhance business performance................................................................................5
Financial Projection.........................................................................................................................6
Conclusion.......................................................................................................................................6
References........................................................................................................................................7
Appendices......................................................................................................................................8
Profit & Loss A/C........................................................................................................................8
Balance Sheet...............................................................................................................................9

Business Plan 2
Introduction
In the recent scenario, the level of competition is increasing day by day that affect the overall
sales of the small and medium based company. One of the companies, FuturProfit Pty Ltd which
is managed by Jane is also facing the same issue. Due to the increase in the level of competition
and concern towards the sustainability of her practice, Janehas read the artificial intelligence,
cloud computing and block chain. Therefore, Jane is planning to implement her skills in the new
capital city which is Washington, D.C to automate her business for the financial stability
(Ferguson, Dahles and Prabawa, 2017).
The below information will provide a complete study of the market where the company is
planning to enter as well as the services it will provide to its consumers with the help of business
canvas model
Advantage and Disadvantage of leasing commercial property
Advantages
 Washington D.C is the capital of United Sates which is full of crowd. The price of the
property in such city high. Therefore, in such city more properties are available to lease
than to purchase that can be more affordable for the company at the initial stage.
 The commercial property requires high maintenance, every year insurance facility and
other costs and which distract company’s goals. Therefore, to manage it is very difficult.
 Leasing or renting property is more liquidity than property as if company does not feel
that its business is not working in such city then they can switch any time after
completing the lease (An et al., 2016).
Disadvantage
 It has been analyzed that paying rent is less stable as well as less economically liable. It
will cost high if comparison will be done after four years.
 The company will not able to fully customize its place in leasing or renting property that
can create an issue for FuturProfit Pty Ltd to the certain extent.

Business Plan 3
 FuturProfit Pty Ltd can face an issue of early termination clause that hamstrings the
tenant’s ability to control the rental space (Gulyaeva,2018).
Business Model Canvas
Business model canvas will facilitate Jane to provide conceptual and alignment strategy
execution of the strategies to the procedure of business in an efficient and in an effective manner.
Key Activities
 Accounting
 Bookkeepin
g
 Maintain up
to date CPA
certification
as well as
accounting
practices
 Audit
 Proposing
client in
which
manner they
can increase
their revenue
 Leal and
Ethical
Practice
 Xero Service
 Tax
Key Partnerships
 Small and
Medium
Enterprises
 Government
 Employees
 External
Auditor
 Co-sourcing
partner
 Chief of
Staff
Customer
Relationship
 Advisor on
Strategy
 Providing
assurance of
accuracy.
 Internal
Consultant
 Execution
 Address tax
issues
 Cost and
Margin
Analysis
Value
Propositions
 Helping
clients from
Government
risk and
Control
 Consultation
 Provide
team of
experts
 Quality
assurance
 Building
trust with
client
 Guiding
clients
related to
tax changes
occur
Customers
Segment
 Small
business
Enterprises
 Medium
Business
Enterprises
 SME at
growth
phase with
a minimum
turnover of
$1 million
per annum
 Companies
belong to
Health
Care
 Company
belong to
Education

Business Plan 4
preparation  Company
belong to
STEM
Channels
 Outlet or office will be set up for
clients
 The service will be also provided
through online by creating
ecommerce web-page
 Networking at local professional
association
 Third party services will be
provided to the consumers.
 Audit Report
Key Resources
 Capital
 Brand and Patent
 Employees
 Other Association
 Auditors
 Suppliers of Laptop and other
essential products
 Sponsors
 Trainee development
Cost Structure
 Building Rent
 Equipment’s
 Salaries
 Office Maintenance
 Duty
 Advertising Cost
 Logistics and Supply chain
 Training
 Tools
 Professional Licence
 Co-sourcing
Revenue Streams
 Cash Payment
 Web-Based Sales
 External Audit fees reduction
 Compliances Rework
 Advertisement and Promotion
 Credit or Debit Cards

Business Plan 5
Market Analysis Summary
The market of small business accounting involves almost all tiny business in Washington D.C. as
business expanded in the market other than sole proprietorship; they in general require an expert
that would help withat least their tax preparation with additional booking and accounting
services (Farber, Huang and Mauldin, 2018). Even through other non-employer sole
proprietorship in which city require help related to accounting at certain extent. While some
small business or education companies hire bookkeeper or CFO directly. However, many
successfully outsource such type of service to control over its cost and to concenter over their
work more properly (Amankwah-Amoah et al., 2019).
The accounting service market as a whole covers the following:
 Small business accounting
 Persona accounting
 Corporate accounting and auditing firms: The Big Four (PricewaterhouseCoopers, Ernst
& Young, Deloitte Touche Tohmatsu, and KPMG)
The National Society of Accountants claim that the city cover more than 30000 independents
practitioners who actually give services to more than 18 million individuals as well as business
in Washington D.C. the continuing evolution of U.S. tax also assures the work for tax
accountants on continuing source. The market of Washington D.C is free from recession
therefore, the companies that are contracting with the accountants, use its service to help cut
spending as well as limit the tax liabilities (Chiapello, 2017).
Management Strategies
Staff Training
The employees of FuturProfit Pty Ltd are not experienced in the field of leadership, technical,
analytical as well as consulting. It can create great impact over the growth and presentation of
the company to the certain level. Therefore, the company will adopt various training activities to
enhance their skills as they are explained in the below points:

Business Plan 6
 On-boarding trainingwill be arranged for the employee in which, the session will be taken
on analytical and consulting services that can be provided to the clients. In the session,
the live examples will be provided to the employees that can help them to understand in
more effective manner. Such training session will be taken between 15 days.
 Technical Skill Development Training will be arranging for the employees within a week
in which the practice on Xero software will be done. It will help them to understand the
use of such software and enhance the technical skills.
 Live session on leadership will be created for the employees in which the team will be
divided into different group and the team leader is required to lead the team. In such
activity, the leader will be given some situation according to which they are required to
lead its team. It will help in enhancing the leadership skills among the employees (Walsh
et al., 2018).
Strategies to enhance business performance
The strategies that can help in improving the business performance are as follow:
 The company must follow online marketing platform such as LinkedIn, Instagram
professional pages and Facebook pages which can help them to cover maximum number
of clients in limited period of time. it is required for the company to maintain marketing
team so that they can able to focus over promotional activities
 The company should manage the separate team for Xero software that can help them in
providing the quality service to their clients in a useful and proficient way. It can also
provide bookkeeping service through online source that can grab the attention of is
clients to the certain extent (Chuang and Huang, 2018)
Financial Projection
In order to analyze the economic projection of the company, it has been analyzed that the
company will earn profit of $99000 in the year first that will be further enhanced by $154000 in
the next year which represent that the company will earn great profit after expanding its business
in the new market due to the profitable environment is provided to the company. The company
can enhance its revenue at greater level my expanding its business in the international market.

Business Plan 7
Conclusion
The above information reflects that in this competitive and struggling market there is a
significant role of managing business in the company. FuturProfit Pty Ltd is one of the small
companies that cover its business in Canberra. Jane is the owner of the company who provide
service of accountancy and bookkeeping. In the recent scenario, the company faces an issue of
high level competition as well as enhances its concern towards sustainable growth. Therefore,
Jane is planning to enlarge its business in the global market which is Washington D.C. in order
to analyze the whole market; there is cut-throat competition in that city. The people are highly
dependent on the accountancy companies that can offer great opportunities to the company to
rise in the market in an effective manner. However, it is required for the company to train its
employee related to the leadership, technical as well asother skills that can help them to enhance
its service in the new city. The company an adopt different strategies such as focusing over
marketing and so on to achievetargeted objective. As the end by adopting the strategies the
company can earn sufficient revenue from its business which will support company to give tough
competition.

Business Plan 8
References
Amankwah-Amoah, J., Hinson, R.E., Honyenuga, B. and Lu, Y. (2019) Accounting for the
transitions after entrepreneurial business failure: An emerging market perspective. Structural
Change and Economic Dynamics, 50, pp.148-158.
An, X., Deng, Y., Fisher, J.D. and Hu, M.R. (2016) Commercial real estate rental index: A
dynamic panel data model estimation. Real Estate Economics, 44(2), pp.378-410.
Chiapello, E. (2017) Critical accounting research and neoliberalism. Critical Perspectives on
Accounting, 43, pp.47-64.
Chuang, S.P. and Huang, S.J. (2018) The effect of environmental corporate social responsibility
on environmental performance and business competitiveness: The mediation of green
information technology capital. Journal of Business Ethics, 150(4), pp.991-1009.
Farber, D.B., Huang, S.X. and Mauldin, E. (2018) Audit committee accounting expertise, analyst
following, and market liquidity. Journal of Accounting, Auditing & Finance, 33(2), pp.174-199.
Ferguson, J.E., Dahles, H. and Prabawa, T.S. (2017) The Indonesian tourism industry under
crisis: a Bourdieuan perspective on social boundaries among small-scale business owners. Asia
Pacific Business Review, 23(2), pp.171-191.
Gulyaeva, O.A. (2018) Commercial Mortgage Loan in the system of private ownership. The
Business & Management Review, 9(4), pp.438-446.
Walsh, S., Dagnall, N., Ryan, S., Doyle, N., Scarbrough-Lang, S.J. and McClean, B. (2018)
Investigating the impact of staff training in positive behavioural support on service users’ quality
of life. Learning Disability Practice, 21(5).

Business Plan 9
Appendices
Profit & Loss A/C

Business Plan 10
Balance Sheet