Mobile Notary Business Plan Example

Mobile notary business plan for starting your own business

Even with all the modernization and the availability of biometric verification and digital signature services, the importance of good old notary publics cannot be neglected. In this mobile notary business plan pdf, we will walk you through everything, from start to end, that is involved in creating a franchise business plan for mobile notary services.

If you stick around till the end of this sample business plan for a mobile notary service, you can also get a business plan for green house that you can use if you don’t want to make a living seeing people sign boring documents.

Executive Summary

2.1 The Business

Walker Mobile Notary will be a notary public services business based in Cleveland, Ohio. It will provide all the services form document attestation to signature verification and from contract registration to affidavit registration.

2.2 Management of Mobile Notary Business

No sample business plan mobile notary can be complete without talking about the management structure that will be used to effectively run the business. Here, the business will be headed by the owner and CEO Paul Walker. Walker, who is a retired attorney, will hire a manager to handle the business and will employ five notary publics to provide the services. An accountant will also be hired to keep track of the money moving into and out of the business.

Just like starting a micro winery, this business will need to have a strong management structure to be run efficiently and to make profit.

2.3 Customers of Mobile Notary

We need to determine the customers this business will be serving. This is one of the most important part of writing business plan for investors. The main customers will be the following:

• People who want to get a contract verified.
• People who want to get an agreement registered.
• People who want to sign an affidavit in the presence of a notary public.
• People who are obligated by the law to get documents verified by a notary.

2.4 Business Target

The target of this business is to make a lot of money by providing notary services to people at their doorstep. To meet that target, the goals of the business will be divided into the following:

• Making a reputable name for the business.
• Expanding the services to the whole city of Cleveland and then the nearby areas.
• Making as much money as possible.
• Getting permanent clients for the business.

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Company Summary

3.1 Company Owner

The owner is one of the most important things in any sample notary public business plan. The owner of Walker Mobile Notary is Paul Walker. He is a retired district attorney and knows in detail how to make and execute a notary signing agent business plan. Let’s now see the next part of this free notary business plan.

3.2 Why the Mobile Notary Business is being started?

The next thing that we need to touch in this mobile notary business plan pdf is the reason why this business is being started. When Walker retired from his position as the district attorney, he felt that there was no mobile notary services provider in the whole city. He wanted to start a business of his own before all this. He went through a business plan for janitorial services and a business plan for the cyber security but finally decided that he needed to do something related to his field of experience and that turned out to be opening a mobile notary business.

3.3 How the Mobile Notary Business will be started?

Step1: Planning

The first thing that needs to be done to start a mobile notary business is planning. This was easy for Paul as he was in the same industry for a long time and knows how to plan and execute this business. He has carried out a survey and planned the feasibility of starting this business in the area.

Step2: Registration

The next thing that needs to be done is to register with the local law-enforcing authorities and justice system. A notary can only carry out notarial services if they are registered with the local justice department. This will also not be a problem for Paul.

Step3: Establishing an Office   

The next thing to do is to establish an office where the business will be based. Paul is looking to make the office in a place near the district courts so that he can provide mobile and on-the-spot notarial services.

Step4: Marketing  

Making the business known to the people who are expected to be customers will also be one of the most important things in starting the business. Paul plans to spare no expense in advertising and marketing the business.

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Start-up Expenses
Legal	$239,000
Consultants	$0
Insurance	$31,000
Rent	$28,000
Research and Development	$25,000
Expensed Equipment	$51,000
Signs	$4,100
TOTAL START-UP EXPENSES	$378,100
Start-up Assets	$344,000
Cash Required	$355,000
Start-up Inventory	$39,000
Other Current Assets	$235,000
Long-term Assets	$282,000
TOTAL ASSETS	$1,255,000
Total Requirements	$1,633,100
START-UP FUNDING
Start-up Expenses to Fund	$378,100
Start-up Assets to Fund	$1,255,000
TOTAL FUNDING REQUIRED	$1,633,100
Assets
Non-cash Assets from Start-up	$1,638,000
Cash Requirements from Start-up	$385,000
Additional Cash Raised	$54,000
Cash Balance on Starting Date	$39,000
TOTAL ASSETS	$2,116,000
Liabilities and Capital
Liabilities	$29,000
Current Borrowing	$0
Long-term Liabilities	$0
Accounts Payable (Outstanding Bills)	$48,000
Other Current Liabilities (interest-free)	$0
TOTAL LIABILITIES	$77,000
Capital
Planned Investment	$1,633,100
Investor 1	$0
Investor 2	$0
Other	$0
Additional Investment Requirement	$0
TOTAL PLANNED INVESTMENT	$1,633,100
Loss at Start-up (Start-up Expenses)	$405,900
TOTAL CAPITAL	$2,039,000
TOTAL CAPITAL AND LIABILITIES	$2,116,000
Total Funding	$1,633,100

Services

Document Attestation

We will provide document attestation services to people in Cleveland who cannot get to a notary’s office.

Contract Validation

People who want to sign a contract and get it registered by a notary will also be given the services where they can call us and get the contract validated.

Signature Verification

There are some documents that are only valid when signed in the presence of a notary public. We will provide these signature validation services too.

Agreement Validation

If someone wants an agreement to be registered at a notary’s office, we will offer the services for that.

Marketing Analysis of Mobile Notary

The next important thing in the mobile notary business plan examples is the marketing analysis of the market we are going to enter. This is the most important part of any law firm sample business plan as we need to be clear about what services we intend to provide and who is already providing the services. The difference between the availability and demand of these services is what makes the business profitable. Let’s now have a look at the market trends as they are also a very important part of this notary business plan.

5.1 Market Trends

Before making this notary business plan template, we ran a complete analysis of the market trends. It was evident from our surveys for this sample business plan for a mobile notary service that the demand for mobile notary services has been on a steady rise since the last 5 years. More and more people want mobile notary services, and the service providers are not increasing at the same rate as the demand. That makes this business more profitable than anything like a judgement recovery business plan.

5.2 Marketing Segmentation

The customers of Walker Mobile Notary will be from the following Segments:

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5.2.1 Corporate Clients

Big corporations where hundreds of agreements and contracts are signed on a regular basis will be a profitable market segment for us.

5.2.2 Small Businesses

The need for signing contracts and getting them attested by a notary public is also there in small businesses. These will not be very high-paying clients but will still be a considerable market segment for the business.

5.2.3 Private Customers

Private customers who want a sale deed or any other agreement signed and verified by a notary will also be a market segment for us.

5.2.4 Government Agencies

Government agencies can also sometimes need the services of a mobile notary and we will provide them just that.

Market Analysis
Potential Customers	Growth	Year 1	Year 2	Year 3	Year 4	Year 5	CAGR
Corporate Clients	30%	38,000	39,000	41,000	42,000	44,000	10.00%
Small Businesses	27%	31,000	32,000	34,000	35,000	37,000	10.00%
Private Customers	28%	34,000	35,000	36,000	38,000	40,000	10.00%
Government Agencies	15%	19,000	20,000	21,000	23,000	25,000	11.00%
Total	100%	122,000	126,000	132,000	138,000	146,000	10%

5.3 Business Target

• To become a well-reputed name in the business.
• To make as much money as possible.
• To deliver notary services at the doorstep of those in need.
• To provide all sorts of notary services to all market segments.

5.4 Product Pricing

Walker Mobile Notary will price the services twice as much as other notaries are charging. This will be done because there are no other mobile notary services providers in the area, and we can use that to our advantage. We will offer discounts to repeat customers and corporate clients.

Marketing Strategy

Another important thing that we need to touch in this notary public business plan is the marketing strategy that will be used for the business. To make a complete and actionable marketing strategy for any notary business plan pdf it is necessary to run a complete competitive analysis and then make a sales strategy according to the prevailing circumstances in the industry. Paul has done just that and here is the result of his research and working.

6.1 Competitive Analysis

1. We have gathered intel and have come to know that the area does not have any mobile notary service provider.
2. The notary publics working in the area are not sufficient for the needs of the are and people often have to wait for hours to get their documents attested.
3. There is an overwhelming demand for mobile notary services in the area with some people even saying thy are willing to pay 5 times the fee of a notary public if thy can get them to visit them at home.

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6.2 Sales Strategy

• Walker Mobile Notary will offer discounted rates for the first six months.
• The business will be advertised using all available media outlets.
• Free private attestation services will be provided to corporate clients.

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

Sales Forecast
Unit Sales	Year 1	Year 2	Year 3
Document Attestation	50,000	53,000	56,180
Contract Validation	40,000	42,400	44,944
Signature Verification	56,000	59,360	62,922
Agreement Validation	47,000	49,820	52,809
TOTAL UNIT SALES	193,000	204,580	216,855
Unit Prices	Year 1	Year 2	Year 3
Document Attestation	$40.00	$46.40	$53.82
Contract Validation	$60.00	$69.60	$80.74
Signature Verification	$65.00	$75.40	$87.46
Agreement Validation	$58.00	$67.28	$78.04
Sales
Document Attestation	$2,000,000.00	$2,459,200.00	$3,023,832.32
Contract Validation	$2,400,000.00	$2,951,040.00	$3,628,598.78
Signature Verification	$3,640,000.00	$4,475,744.00	$5,503,374.82
Agreement Validation	$2,726,000.00	$3,351,889.60	$4,121,483.45
TOTAL SALES	$10,766,000.00	$13,237,873.60	$16,277,289.38
Direct Unit Costs	Year 1	Year 2	Year 3
Document Attestation	$38.00	$43.00	$50.00
Contract Validation	$58.00	$66.00	$76.00
Signature Verification	$63.00	$72.00	$84.00
Agreement Validation	$56.00	$64.00	$74.00
Direct Cost of Sales
Document Attestation	$1,900,000.00	$2,279,000.00	$2,809,000.00
Contract Validation	$2,320,000.00	$2,798,400.00	$3,415,744.00
Signature Verification	$3,528,000.00	$4,273,920.00	$5,285,414.40
Agreement Validation	$2,632,000.00	$3,188,480.00	$3,907,880.80
Subtotal Direct Cost of Sales	$10,380,000.00	$12,539,800.00	$15,418,039.20

Personnel plan

Another part of enterprise due diligence is the assessment of manpower that will be needed to run the company. As this is a services business and not a products one, this business plan for notary public will need a lot of manpower to run. To make this mobile notary business plan a success, it is imperative that you hire the right people and the right number of people.

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7.1 Company Staff

The following people will be needed to run the business:

• Paul Walker will be the owner and CEO of the business.
• 2 managers for operations and marketing.
• 4 Mobile Notary Publics.
• 1 Email correspondent.
• 2 Office Assistants.
• 2 guards.
• 1 reception clerk.
• 1 telephone operator.

7.2 Average Salary of Employees

Personnel Plan
	Year 1	Year 2	Year 3
Operations Manager	$14,000	$15,400	$16,940
Marketing Manager	$13,000	$14,300	$15,730
Mobile Notary Publics	$40,000	$44,000	$48,400
Email Correspondent	$9,000	$9,900	$10,890
Office Assistants	$16,000	$17,600	$19,360
Guards	$18,000	$19,800	$21,780
Reception Clerk	$8,000	$8,800	$9,680
Telephone Operator	$8,000	$8,800	$9,680
Total Salaries	$126,000	$138,600	$152,460

Financial Plan

The last part of any notary public business plans is the discussion of the finances involved in starting and running the business.  This business will not require a lot of investment. However, the person starting the business will have to arrange for the following expenses:

• The cost of getting the business registered.
• The salary of employees.
• The cost of establishing the business.
• The money needed to buy furniture and other things for the office.
• The cost of establishing an online presence.
• The cost to buy cars for visiting notaries.

8.1 Important Assumptions

General Assumptions
	Year 1	Year 2	Year 3
Plan Month	1	2	3
Current Interest Rate	8.15%	8.22%	8.26%
Long-term Interest Rate	8.40%	8.46%	8.49%
Tax Rate	23.91%	24.45%	25.20%
Other	0	0	0

8.2 Break-even Analysis

Break-Even Analysis
Monthly Units Break-even	5343
Monthly Revenue Break-even	$133,500
Assumptions:
Average Per-Unit Revenue	$235.00
Average Per-Unit Variable Cost	$0.66
Estimated Monthly Fixed Cost	$163,800

8.3 Projected Profit and Loss

Pro Forma Profit And Loss
	Year 1	Year 2	Year 3
Sales	$10,766,000	$13,237,874	$16,277,289
Direct Cost of Sales	$10,380,000	$12,539,800	$15,418,039
Other	$0	$0	$0
TOTAL COST OF SALES	$10,380,000	$12,539,800	$15,418,039
Gross Margin	$386,000	$698,074	$859,250
Gross Margin %	3.59%	5.27%	5.28%
Expenses
Payroll	$126,000	$138,600	$152,460
Sales and Marketing and Other Expenses	$137,000	$148,000	$156,000
Depreciation	$2,100	$2,200	$2,300
Leased Equipment	$0	$0	$0
Utilities	$2,700	$2,800	$2,900
Insurance	$2,100	$2,100	$2,100
Rent	$2,800	$2,900	$3,100
Payroll Taxes	$27,000	$29,000	$31,000
Other	$0	$0	$0
Total Operating Expenses	$299,700	$325,600	$349,860
Profit Before Interest and Taxes	$86,300	$372,474	$509,390
EBITDA	$86,300	$372,474	$509,390
Interest Expense	$0	$0	$0
Taxes Incurred	$17,260	$74,495	$101,878
Net Profit	$69,040	$297,979	$407,512
Net Profit/Sales	0.64%	2.25%	2.50%

8.3.1 Profit Monthly

8.3.2 Profit Yearly

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8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

Pro Forma Cash Flow
Cash Received	Year 1	Year 2	Year 3
Cash from Operations
Cash Sales	$52,000	$56,160	$60,653
Cash from Receivables	$21,000	$22,680	$24,494
SUBTOTAL CASH FROM OPERATIONS	$73,000	$79,570	$85,936
Additional Cash Received
Sales Tax, VAT, HST/GST Received	$0	$0	$0
New Current Borrowing	$0	$0	$0
New Other Liabilities (interest-free)	$0	$0	$0
New Long-term Liabilities	$0	$0	$0
Sales of Other Current Assets	$0	$0	$0
Sales of Long-term Assets	$0	$0	$0
New Investment Received	$0	$0	$0
SUBTOTAL CASH RECEIVED	$73,000	$79,000	$85,000
Expenditures	Year 1	Year 2	Year 3
Expenditures from Operations
Cash Spending	$38,000	$39,000	$41,000
Bill Payments	$24,000	$26,000	$27,000
SUBTOTAL SPENT ON OPERATIONS	$62,000	$65,000	$68,000
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out	$0	$0	$0
Principal Repayment of Current Borrowing	$0	$0	$0
Other Liabilities Principal Repayment	$0	$0	$0
Long-term Liabilities Principal Repayment	$0	$0	$0
Purchase Other Current Assets	$0	$0	$0
Purchase Long-term Assets	$0	$0	$0
Dividends	$0	$0	$0
SUBTOTAL CASH SPENT	$62,000	$66,960	$72,317
Net Cash Flow	$21,000	$24,000	$28,000
Cash Balance	$25,000	$26,000	$27,000

8.5 Projected Balance Sheet

Pro Forma Balance Sheet
Assets	Year 1	Year 2	Year 3
Current Assets
Cash	$281,000	$314,720	$346,192
Accounts Receivable	$23,600	$26,432	$29,710
Inventory	$4,100	$4,592	$4,900
Other Current Assets	$1,000	$1,000	$1,000
TOTAL CURRENT ASSETS	$287,300	$321,776	$361,676
Long-term Assets
Long-term Assets	$10,000	$10,000	$10,000
Accumulated Depreciation	$19,000	$21,280	$23,940
TOTAL LONG-TERM ASSETS	$22,500	$25,200	$28,350
TOTAL ASSETS	$295,000	$330,400	$371,700
Liabilities and Capital	Year 4	Year 5	Year 6
Current Liabilities
Accounts Payable	$19,000	$21,280	$23,919
Current Borrowing	$0	$0	$0
Other Current Liabilities	$0	$0	$0
SUBTOTAL CURRENT LIABILITIES	$19,000	$21,280	$23,919
Long-term Liabilities	$0	$0	$0
TOTAL LIABILITIES	$16,500	$18,480	$20,772
Paid-in Capital	$30,000	$30,000	$31,000
Retained Earnings	$53,500	$58,315	$64,147
Earnings	$199,800	$217,782	$239,560
TOTAL CAPITAL	$286,000	$311,740	$342,914
TOTAL LIABILITIES AND CAPITAL	$302,500	$330,400	$371,700
Net Worth	$293,000	$319,370	$351,307

8.6 Business Ratios

Ratio Analysis
	Year 1	Year 2	Year 3	INDUSTRY PROFILE
Sales Growth	7.23%	8.01%	8.88%	3.00%
Percent of Total Assets
Accounts Receivable	9.19%	10.18%	11.28%	9.80%
Inventory	5.39%	5.97%	6.62%	9.90%
Other Current Assets	2.12%	2.35%	2.60%	2.40%
Total Current Assets	150.00%	151.00%	152.00%	158.00%
Long-term Assets	11.40%	11.50%	11.61%	12.00%
TOTAL ASSETS	100.00%	100.00%	100.00%	100.00%
Current Liabilities	4.87%	4.91%	4.95%	4.34%
Long-term Liabilities	0.00%	0.00%	0.00%	0.00%
Total Liabilities	7.70%	7.76%	7.83%	7.38%
NET WORTH	100.56%	101.36%	102.30%	110.00%
Percent of Sales
Sales	100.00%	100.00%	100.00%	100.00%
Gross Margin	94.89%	97.45%	100.18%	99.00%
Selling, General & Administrative Expenses	93.69%	96.22%	98.91%	97.80%
Advertising Expenses	1.53%	1.57%	1.62%	1.40%
Profit Before Interest and Taxes	41.00%	42.11%	43.29%	33.90%
Main Ratios
Current	34	35	36	32
Quick	32	33.4	34.235	33
Total Debt to Total Assets	0.18%	0.18%	0.17%	0.40%
Pre-tax Return on Net Worth	73.98%	74.55%	75.00%	75.00%
Pre-tax Return on Assets	94.58%	99.31%	104.27%	111.30%
Additional Ratios	Year 1	Year 2	Year 3
Net Profit Margin	33.20%	34.23%	35.29%	N.A.
Return on Equity	56.10%	57.84%	59.63%	N.A.
Activity Ratios
Accounts Receivable Turnover	7.7	7.8	7.8	N.A.
Collection Days	100	100	100	N.A.
Inventory Turnover	32	33.6	33	N.A.
Accounts Payable Turnover	15	16	16.3	N.A.
Payment Days	27	27	27	N.A.
Total Asset Turnover	2.5	2.5	2.6	N.A.
Debt Ratios
Debt to Net Worth	-0.04	-0.03	-0.04	N.A.
Current Liab. to Liab.	1	1	1	N.A.
Liquidity Ratios
Net Working Capital	$243,000	$256,608	$270,978	N.A.
Interest Coverage	0	0	0	N.A.
Additional Ratios
Assets to Sales	0.86	0.87	0.87	N.A.
Current Debt/Total Assets	1%	0%	0%	N.A.
Acid Test	29.3	29.5	29.78	N.A.
Sales/Net Worth	2.1	2.2	2.3	N.A.
Dividend Payout	0	0	0	N.A.

Mobile Notary Business Plan Sample in PDF