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.
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.
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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.
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?
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.
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.
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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|Research and Development||$25,000|
|TOTAL START-UP EXPENSES||$378,100|
|Other Current Assets||$235,000|
|Start-up Expenses to Fund||$378,100|
|Start-up Assets to Fund||$1,255,000|
|TOTAL FUNDING REQUIRED||$1,633,100|
|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|
|Liabilities and Capital|
|Accounts Payable (Outstanding Bills)||$48,000|
|Other Current Liabilities (interest-free)||$0|
|Additional Investment Requirement||$0|
|TOTAL PLANNED INVESTMENT||$1,633,100|
|Loss at Start-up (Start-up Expenses)||$405,900|
|TOTAL CAPITAL AND LIABILITIES||$2,116,000|
The next topic that we need to touch in this notary public business plan pdf template is the nature of services that this business aims to provide. This is just about the most important part of writing a business plan notary service. Here are the services that will be provided by this business:
We will provide document attestation services to people in Cleveland who cannot get to a notary’s office.
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.
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.
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.
|Potential Customers||Growth||Year 1||Year 2||Year 3||Year 4||Year 5||CAGR|
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.
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
- We have gathered intel and have come to know that the area does not have any mobile notary service provider.
- 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.
- 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
|Unit Sales||Year 1||Year 2||Year 3|
|TOTAL UNIT SALES||193,000||204,580||216,855|
|Unit Prices||Year 1||Year 2||Year 3|
|Direct Unit Costs||Year 1||Year 2||Year 3|
|Direct Cost of Sales|
|Subtotal Direct Cost of Sales||$10,380,000.00||$12,539,800.00||$15,418,039.20|
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
|Year 1||Year 2||Year 3|
|Mobile Notary Publics||$40,000||$44,000||$48,400|
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
|Year 1||Year 2||Year 3|
|Current Interest Rate||8.15%||8.22%||8.26%|
|Long-term Interest Rate||8.40%||8.46%||8.49%|
8.2 Break-even Analysis
|Monthly Units Break-even||5343|
|Monthly Revenue Break-even||$133,500|
|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|
|Direct Cost of Sales||$10,380,000||$12,539,800||$15,418,039|
|TOTAL COST OF SALES||$10,380,000||$12,539,800||$15,418,039|
|Gross Margin %||3.59%||5.27%||5.28%|
|Sales and Marketing and Other Expenses||$137,000||$148,000||$156,000|
|Total Operating Expenses||$299,700||$325,600||$349,860|
|Profit Before Interest and Taxes||$86,300||$372,474||$509,390|
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 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|
|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|
|SUBTOTAL CASH SPENT||$62,000||$66,960||$72,317|
|Net Cash Flow||$21,000||$24,000||$28,000|
8.5 Projected Balance Sheet
|Pro Forma Balance Sheet|
|Assets||Year 1||Year 2||Year 3|
|Other Current Assets||$1,000||$1,000||$1,000|
|TOTAL CURRENT ASSETS||$287,300||$321,776||$361,676|
|TOTAL LONG-TERM ASSETS||$22,500||$25,200||$28,350|
|Liabilities and Capital||Year 4||Year 5||Year 6|
|Other Current Liabilities||$0||$0||$0|
|SUBTOTAL CURRENT LIABILITIES||$19,000||$21,280||$23,919|
|TOTAL LIABILITIES AND CAPITAL||$302,500||$330,400||$371,700|
8.6 Business Ratios
|Year 1||Year 2||Year 3||INDUSTRY PROFILE|
|Percent of Total Assets|
|Other Current Assets||2.12%||2.35%||2.60%||2.40%|
|Total Current Assets||150.00%||151.00%||152.00%||158.00%|
|Percent of Sales|
|Selling, General & Administrative Expenses||93.69%||96.22%||98.91%||97.80%|
|Profit Before Interest and Taxes||41.00%||42.11%||43.29%||33.90%|
|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.|
|Accounts Receivable Turnover||7.7||7.8||7.8||N.A.|
|Accounts Payable Turnover||15||16||16.3||N.A.|
|Total Asset Turnover||2.5||2.5||2.6||N.A.|
|Debt to Net Worth||-0.04||-0.03||-0.04||N.A.|
|Current Liab. to Liab.||1||1||1||N.A.|
|Net Working Capital||$243,000||$256,608||$270,978||N.A.|
|Assets to Sales||0.86||0.87||0.87||N.A.|
|Current Debt/Total Assets||1%||0%||0%||N.A.|
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