Business plan Essay

Submitted By TeeShaikh
Words: 2655
Pages: 11

1.0 Executive Summary
Company Profile Summary
Robert Hills and Associates is an accounting and tax business located in the Pickering area of Durham region. It provides full year taxation and accounting with extra financial services. It is owned by Robert Hills and his brother John Hill who started the business in 1984. He has many years of experience in the accounting sector and has a degree in accounting from University of Toronto.

Market Research Summary
The accounting industry is a very big industry with many key players and competitors. In the early days, accounting was manual and it went through dramatic changes till the 21st century. The industry went through technological, political, social, economic and regulatory changes. There are many key competitors such as H & R Block, Liberty tax service, ASC Accounting solutions and Ajax accounting services in the local area which are discussed in more detail. The target markets are small businesses in the Durham region such as trades, service sector, and food industry. The other targets are Teachers, Retired individuals, students, and low income families which help increase profits in the business.

2.0 Company Profile
Business Overview
The company provides Bookkeeping, Corporate income taxes and payroll services for personal and small businesses across parts of Ontario. They help with business start-ups and personal and business consulting services. The company also helps with financing loans, venture capitals and line of credits. Robert Hills and Associates was established on 04/02/1984

The key benefit is that Robert hills provide is the best service to its clients with good relationships with clients and a friendly service. They provide value to the customer with a convenient location to serve them. It is a good location for clients in the Durham region and the hours of service are extended for their own purposes so they can book and appointment in the evening or weekends.

Robert Hills and Associates is a service business. The services they offer are personal and small businesses bookkeeping, income taxes, and payroll services for clients within Ontario.

The owner of the business is Robert Hill who started the business in 1984 and has become successful till the current year.

Robert Hills and Associates will be office building. Robert Hills and Associates will be located at 1750 Plummer St, Unit 21 Pickering, ON L1W3L7. You need to run the business from an office building because an Income tax firm cannot be run from a store, manufacturing facility or at home. It needs more area and it wouldn't make sense to run in from those places. Tax offices are mostly run in an office building due to customer conveniences and providing appropriate service to clients. Since it is a professional firm, you cannot run the business from home.

3.0 Market Research
Industry Profile & Outlook
Robert Hills and Associates operates primarily in the Service industry.

The business is considered a service industry because they are providing Accounting and tax service to clients. It is run by Robert Hill and his brother Mark hill who started the company in 1984. It is a small business with only one location in the Durham region. There is no partnership or stores involved the business. It is just a small corporation ran by a family. They have 20 employees working for them on a regular basis.

It is not easy to start an accounting business as there are many rules and regulations to follow. There are many barriers to entry in the accounting market. You need to look at the competitors in the area on how they are giving their service. The other things that need to be planned is what type of accounting business do you want to do such as taxes/payroll or forensic accounting. Entering a specific area of accounting can explain the business core competencies and sets them up from your competitors. If they are trying to enter too narrow niche, it may