PERSONAL CONCIERGE BUSINESS PLAN SAMPLE
What is a concierge business? How much do you charge personal concierge? What is a concierge service? The concierge services industry is well regarded for providing customers with on-demand services. The major target market of this line of business includes individuals, employees, business executives, etc.
If you are an entrepreneur who wants to venture into this business, by now you must have fulfilled all the necessary requirements for starting this business. Continue reading this article to find out how you will be able to write a good and simple business plan for your concierge business.
Here is a sample business plan for starting a concierge service business.
BUSINESS NAME: Prime Royal Concierge Services, LLC.
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Sales Forecast
- Conclusion
EXECUTIVE SUMMARY
Prime Royal Concierge Services, LLC is a fully registered and licensed concierge business which is set to be established in Louisiana, United States. The business will be offering a number of its services to customers all around the United Sates.
Prime Royal Concierge Services, LLC will be owned and managed by Wilson Morrison and his long time business associate and friend, Nelson Murray. Their experience would be of immense benefit to the business.
Having carried out a thorough feasibility study, we have come up with a total of $300,000 as the total startup cost which will be sourced from the owners solely.
OUR PRODUCTS AND SERVICES
Starting up Prime Royal Concierge Services, LLC has always been our dream. We are very keen in offering the very best services to our esteemed customers; this is why we will work very hard to make sure we provide quality products and services.
Below is a list of the services we will be providing our customers:
- Arranging travel, tours and hotel reservation
- Shopping, including grocery
- Arranging for spa services
- Offering courier functions
- Providing home management services
- Offering party and event planning
- Making arrangements for dining and entertainment
- Providing other tasks which are related to business trip (such as booking transportation, airplanes, etc) and making recommendations for night life hot spots, etc.
VISION STATEMENT
Our business vision is simply to establish a business which will be a standard and renowned concierge services company, providing its services to not just customers in Louisiana, United States, but in all of the various cities in the United States.
MISSION STATEMENT
We have a mission in our concierge business: It is to provide the very best concierge services to our various customers, ranging from individuals, companies, to corporate organizations. We want to be focused on helping them achieve their personal and business goals. Also, we want to make sure our concierge business is built to be able to compete very well with the top businesses in the industry all over the United States.
BUSINESS STRUCTURE
We understand that all businesses require a very strong business foundation or structure to be able to fully succeed. It is for this reason that we will make sure to hire employees who are qualified, hardworking, competent, creative, and ready to share our business vision.
Also, we will make sure to include profit-sharing in our business arrangement. Only employees in our senior management team who have maintained good performance for a minimum period of five years will be eligible for this arrangement. Below are the positions we will be offering in our business organization:
- Chief Executive Officer
- Human Resources and Admin Manager
- Operation Manager
- Sales and Marketing Executive
- Business Concierge Service Providers
- Accountant
- Client Service Executive
MARKET ANALYSIS
Market Trend
One truth about this business is that the business is a very interesting service related one which any entrepreneur can key into. The reason is because the business is such that allows operators to be able to handle clients’ personal and professional matters such as taking care of their shopping, travel arrangements, dry cleaning needs, etc.
Target Market
The following are the various groups which will make up the target market for our concierge services business:
- Busy business people
- Busy top corporate executives
- Hospitals
- Hotels
- Financial institutions such as Banks, Insurance Companies, etc
- Tourists and regular travellers
- Corporate Organizations
- Blue Chips Companies
- Manufacturers and Distributors
- Research and Development Companies
- Manufactures and Distributors
- Entrepreneurs and Startups
- Owners, Developers, and contractors of real estate.
SALES AND MARKETING STRATEGY
We are already familiar with the industry, and we know how stiff the competition in the industry is. This is why we have put in place several sales and marketing strategies which will help us tackle the competition head-on. Before we arrived at these strategies, we however, first made contact with sales and marketing experts. Below are the various strategies which will help us promote our business successfully to our target market:
- We will make introductions of our business to our various target markets by sending introductory letters and emails, together with our business brochure to households, corporate organizations, etc.
- We will be very quick in our bidding for concierge service contracts from both government and non-government contracts.
- We will make sure to list our business in local directories.
- We will make sure to promote our business by advertising in newspapers, relevant business magazines, radio and TV station, etc.
- We will also ensure to always stay active in the business by keeping up-to-date through seminars, local expos, business fairs, etc.
- We will make sure to seize the online world by making sure to advertise our business on social media such Facebook, Instagram, and Twitter.
FINANCIAL PLAN
Source of Startup Budget
From our thorough research and feasibility studies, we have been able to come up with a total of $300,000 as the needed startup capital for our concierge business. This capital will be sourced solely from the owners, Wilson Morrison and his long time business associate and friend, Nelson Murray. Both of them will each contribute half of the startup capital to make up the full amount.
SALES FORECAST
Below is a sales projection for Prime Royal Concierge Services, LLC for the following three years after startup. This sales projection is based on proper research on available data in the industry, and it is only a projection which should provide us with a guide in the first three years.
First Fiscal Year $150,000
Second Fiscal Year $250,000
Third Fiscal Year $500,000
CONCLUSION
Above is a concierge service business plan sample which has made use of the business name ‘Prime Royal Concierge Services, LLC’. This concierge service business will be located in Louisiana, United States.
Prime Royal Concierge Services, LLC will be focused on offering its services to its clients in the whole of the United States, and it will be jointly owned by Wilson Morrison and his long time business associate and friend, Nelson Murray.