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.

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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.

Mobile Notary Business Plan - 3 Years Profit Forecast

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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.

Mobile Notary Business Plan - Startup Cost
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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

    Note

    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:

    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:

    Mobile Notary Business Plan - Marketing Segmentation

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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 CustomersGrowthYear 1Year 2Year 3Year 4Year 5CAGR
    Corporate Clients30%38,00039,00041,00042,00044,00010.00%
    Small Businesses27%31,00032,00034,00035,00037,00010.00%
    Private Customers28%34,00035,00036,00038,00040,00010.00%
    Government Agencies15%19,00020,00021,00023,00025,00011.00%
    Total100%122,000126,000132,000138,000146,00010%

    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

    Mobile Notary Business Plan - Sales Monthly

    6.4 Sales Yearly

    Mobile Notary Business Plan - Sales Yearly

    6.5 Sales Forecast

    Mobile Notary Business Plan - Unit Sales
    Sales Forecast   
    Unit SalesYear 1Year 2Year 3
    Document Attestation50,00053,00056,180
    Contract Validation40,00042,40044,944
    Signature Verification56,00059,36062,922
    Agreement Validation47,00049,82052,809
    TOTAL UNIT SALES193,000204,580216,855
    Unit PricesYear 1Year 2Year 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 CostsYear 1Year 2Year 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 1Year 2Year 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 1Year 2Year 3
    Plan Month123
    Current Interest Rate8.15%8.22%8.26%
    Long-term Interest Rate8.40%8.46%8.49%
    Tax Rate23.91%24.45%25.20%
    Other000

    8.2 Break-even Analysis

    Mobile Notary Business Plan - Break-even Analysis
    Break-Even Analysis 
    Monthly Units Break-even5343
    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 1Year 2Year 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/Sales0.64%2.25%2.50%

    8.3.1 Profit Monthly

    Mobile Notary Business Plan - Profit Monthly

    8.3.2 Profit Yearly

    Mobile Notary Business Plan - Profit Yearly
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    8.3.3 Gross Margin Monthly

    Mobile Notary Business Plan - Gross Margin Monthly

    8.3.4 Gross Margin Yearly

    Mobile Notary Business Plan - Gross Margin Yearly

    8.4 Projected Cash Flow

    Mobile Notary Business Plan - Projected Cash Flow
    Pro Forma Cash Flow   
    Cash ReceivedYear 1Year 2Year 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
    ExpendituresYear 1Year 2Year 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   
    AssetsYear 1Year 2Year 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 CapitalYear 4Year 5Year 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 1Year 2Year 3INDUSTRY PROFILE
    Sales Growth7.23%8.01%8.88%3.00%
    Percent of Total Assets    
    Accounts Receivable9.19%10.18%11.28%9.80%
    Inventory5.39%5.97%6.62%9.90%
    Other Current Assets2.12%2.35%2.60%2.40%
    Total Current Assets150.00%151.00%152.00%158.00%
    Long-term Assets11.40%11.50%11.61%12.00%
    TOTAL ASSETS100.00%100.00%100.00%100.00%
    Current Liabilities4.87%4.91%4.95%4.34%
    Long-term Liabilities0.00%0.00%0.00%0.00%
    Total Liabilities7.70%7.76%7.83%7.38%
    NET WORTH100.56%101.36%102.30%110.00%
    Percent of Sales    
    Sales100.00%100.00%100.00%100.00%
    Gross Margin94.89%97.45%100.18%99.00%
    Selling, General & Administrative Expenses93.69%96.22%98.91%97.80%
    Advertising Expenses1.53%1.57%1.62%1.40%
    Profit Before Interest and Taxes41.00%42.11%43.29%33.90%
    Main Ratios    
    Current34353632
    Quick3233.434.23533
    Total Debt to Total Assets0.18%0.18%0.17%0.40%
    Pre-tax Return on Net Worth73.98%74.55%75.00%75.00%
    Pre-tax Return on Assets94.58%99.31%104.27%111.30%
    Additional RatiosYear 1Year 2Year 3 
    Net Profit Margin33.20%34.23%35.29%N.A.
    Return on Equity56.10%57.84%59.63%N.A.
    Activity Ratios    
    Accounts Receivable Turnover7.77.87.8N.A.
    Collection Days100100100N.A.
    Inventory Turnover3233.633N.A.
    Accounts Payable Turnover151616.3N.A.
    Payment Days272727N.A.
    Total Asset Turnover2.52.52.6N.A.
    Debt Ratios    
    Debt to Net Worth-0.04-0.03-0.04N.A.
    Current Liab. to Liab.111N.A.
    Liquidity Ratios    
    Net Working Capital$243,000$256,608$270,978N.A.
    Interest Coverage000N.A.
    Additional Ratios    
    Assets to Sales0.860.870.87N.A.
    Current Debt/Total Assets1%0%0%N.A.
    Acid Test29.329.529.78N.A.
    Sales/Net Worth2.12.22.3N.A.
    Dividend Payout000N.A.

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