Business Plan

Pakmarica Painters is a new company and is a sole- proprietor business made of one principal owner with combination of experience of 30 years in the painting industry. Pakmarica Painters will be owned and directed by Anisa P Khan. The owner will be contributing a considerable amount of her own resources into the business and will also be trying to obtain funding of $50,000 to cover start the business and future development of the business. the company. The business has secured a $20,000 overdraft that is withheld for expenses that may turn up and not budgeted for. Pakmarica Painters has a twelve month lease and is located in Boynton Beach Industrial Park on 5277 Cedar Lake Drive, Suite 250 in Boynton Beach, Florida. The business structure has a reception area, office for the director, area to store materials, and conference room. Pakmarica Painters offers a range of services focusing on painting residential homes and commercial buildings both interior and exterior. The company will provide services such as repairing popcorn ceiling, drywall plastering, acoustical ceilings, pressure washing, handyman services and other related services. Our mission is to provide a range of services for our customers with a wide range of different services that will eliminate their need to hire various contractors. Pakmarica Painters role is to enroll in a low-cost leadership strategy that will always maintain high standards of quality and service.
The business will cater mainly on commercial buildings and private homes in the West Palm Beach and Palm Beach area. According to the projected figures at the end of fiscal term, the business planss to brooden its services throughout the Palm Beach County area. The company has reviewed its financial projected figures and has decided that they are both considerate in gaining profitable and keeping their expenditures at a minimal level by purchase materials and labour that are only related or required to perform the work. This was anticipated to provide for unexpected costs. The company's principal believes that cash flow projections are reliable and realistic.
The goal for Pakmarica Painters over a twelve month period are: * To achieve revenues of approximately $120,000 by the end of the first year * To achieve a customer mix of 40% commercial 60% residential building contracts.
The business will reassure customers to provide painting services in a professional manner and include a control system of quality and service that when gain 100% customer satisfaction. The company’s director vision is that to view each contract as a bond not just between a business and its customers, but between partners that wish to create a close and mutually-beneficial long-term relationship. This will enable the company to achieve greater long-term profits through referrals and repeated business. Pakmarica Painters will implement following procedures to achieve its objectives: * Detailed budget for the months that follow the business's launch * Implementing systems that have proper control on checks, balances and internal controls to be in place such as Accounts receivable and accounts payable should be handled separately--either by more than one person or on alternate days; and all financial recordings should be carefully examined. * Monthly financial information which reflects revenue and expenditure against budgets. * Accounting software to record transactions as they occurred such as deposits, invoices, debtors ledger, creditors ledger, fixed-asset register, inventory, customer job and class. * The preparation of financial reports, Profit and Loss statements , balance sheet, cash flow statement * Hiring of skilled Accounting Staff with knowledge and experience and a degree in Accounting will be required.
The role of my accountants will help set up simplified systems that can enable to run my business accurately and profitably. They will among others do: * Budgeting vs Actual monitoring, internal control, contractual costs, cash flow and profit margins. * Inventory control to protect the business from overrunning working capital. * Referrals on the financing of the business through credit line, loans, equipment lease, investment . * Advising and Introducing to various sources of finance and also assist with advertising and promoting the business. * Preparation of Tax returns, PAYE, social security, medicare and other employees deductions. Managment should use financial information and be able to tell how the business looks at thet, present, and future. Reports must be reliable and tells the operation of expenses, revenues profits/loses. Production costs, profit margins, salaries payments on rental of the building, utilities, employee expenses, benefits company pays, workers compensation insurance payments, supply costs, lease of equipment, every outgoing expense of the business compared to "profits"must be clearly stated or recorded. Cited “small business accounting guide.” *