will be creating a business plan for the opening of your own paralegal firm. You are to complete the following components of a business plan:

1. Introductory page

2. Executive Summary

3. Management Plan

4. Marketing Plan

5. Financial Plan

Please see below for a further explanation of what should be included in each component.

1. Introductory page:

a. Your Name

b. Your Business Name

c. Business Address and Contact Information I.

business address should be a real place - not a fake address

2. Executive Summary

a. Explain the legal structure of your business (sole proprietorship, LLP, Professional Corporation)

b. Describe the areas of law you intend to practice

c. Describe your business concept, the market you will serve, your target client and your competitive advantage

d. Summarize your projected financial performance including projected gross revenue and net profit for the first year of business (further detail and explanation to be included in the financial plan component, just a summary is needed in this section)

3. Operations Plan

a. Identify and explain the key personnel required to run your business (if you choose not to hire any key personnel explain why you made that decision) i. Include wages/salaries of any personnel or costs involved with outside hirings (ie accountant)

b. Identify any future hirings for the next five years (if any) i. You may consider using a diagram to show your hiring plan

c. Identify who will be responsible for each task involved in running the business

d. Outline all aspects of day to day activities within the business

e. Facilities - where will your business be run?

f. Equipment requirements

g. Insurance requirements

h. Describe your fee structure and what your fees will be

4. Marketing Plan

a. Who are your potential clients?

b. What avenues of advertising will you use?

c. What are your future advertising plans over the next five years?

d. Who are your competitors? i. Include a SWOT analysis in this section of at least 2 competitors

5. Financial Plan

a. Outline your intended avenue to finance your firm (ie obtain a business loan, personally finance the start up with your own savings, etc)

b. Outline your startup costs

c. Outline your advertising budget

d. Outline your projected fixed monthly costs i. Be sure to include salaries (including your own)

e. Break-even analysis i. This should analyze how much money you will need to break even every month (break even = covering all expenses but no profit)

f. Cash flow projection for each of the first year of business i. Break down the year into each month's cash in and cash out.