Starting an Advertising Agency?
How to Write an Advertising Agency Business Plan (FAST)
Step by Step
If you’re looking for a sample of an Advertising Agency Business Plan, then look no further! We have produced this plan to give you ideas and inspiration.
To be successful in any business you need to consider a lot of factors, and marketing is definitely one of them. That’s why advertising can be seen as one of the most lucrative, recession-proof businesses you could wish to venture into.
So without further ado…
Let’s look at this example of an Advertising Agency Business Plan.
#1 Executive Summary for
Advertising Agency Business Plan
The Executive Summary section of your business plan outlines exactly what your business does.
It’s an overview of your business and summarizes all its key points, as well as being an introduction for the rest of your plan.
The main goal of this advertising agency business plan is to convince either the bank or an investor to invest in the business by providing start-up capital. It’s vital that you provide a solid case for your business idea, which is why your executive summary is so important.
In our Advertising Agency Business Plan sample, the executive summary is composed of:
- The Company
- The Investment Offer
- The Exit Strategy
- Management Team
- Background of the Company
- Mission Statement
Check it out and feel free to lift any of it that you want.
Established in March 2012, Advertising Agency is a specialist public consultation, PR, political liaison, and creative agency which operates across the USA. We currently work in the housing, property, regeneration, education and retail sectors. We are expanding into the energy, transport, and health sectors.
We are experts in creating and managing corporate communication campaigns, public affairs, media relations, copywriting, public consultation, and providing strategic counseling and social and digital communications.
Our objective has been to create a communications agency that is fit for the modern age.
We were named Best New Agency in 2013 and best Public Affairs Agency of the Year 2013. We are very ambitious and we have already promoted and defended the reputation of major national brands including AllMart and New York Bank. Based in Manhattan, we also work with a growing list of regional clients including ABC Homes and One Manhattan. We offer a fully integrated service for the likes of national architects XYZ, contractor United States and Manhattan law firm Manhattan LLP.
We’re looking to secure funding to enable Advertising Agency to open offices in California and New York – to take advantage of the many opportunities offered in the US and the growing market in the eastern region of the US. Our agency has three distinct offers: Agency Consult, providing intelligent, creative, award-winning public affairs; Agency PR, serving the property, construction and professional services sectors with media relations and social media management; and Agency Create, delivering all aspects of branding, digital design, print services, video production and animation. Each team stands up in its own right as a leader in its field – no other US agency delivers these disciplines like we do.
We’re really proud of our achievements to date and we’re very excited at what the future holds.
Welcome to Advertising Agency.
2016 is a key year for Advertising Agency. Our aspiration is to grow into a >$1million turnover company by 2017 and hit $3million by 2021. To achieve this aim, we have identified the need to open an office in California in 2016 to help service the California region, open an office in New York to take advantage of the housing, renewables and infrastructure investment in the US, and also to invest in our creative and digital team which operates out of our Manhattan office. By opening up California and New York offices, we believe we will be able to secure some major contracts in a regional housing, regeneration, transport and renewable market that is continuing to grow at pace. Our California office in particular would allow us to expand into the infrastructure and transport sectors.
To help with our growth plans and to achieve our 2017 and 2021 aspirations, we are seeking $230,000 in return for 23% of our business.
The investment will help Advertising Agency to:
- Grow our California and New York presence
- Secure start-up office space in California and New York
- Expand into the transport and renewable sectors
- Be positioned and marketed specifically to a California market
- Be at the pitch table to support the consultation for major housing, regeneration, transport, and renewable projects
- Service the volume housebuilders and other developers in a growing regional southern market
- Work alongside some of the biggest California based planning agencies including EFG, NBO and Crimson Planning (all known to Advertising Agency) and their clients – airport, infrastructure, etc.
- Significantly grow our digital and creative marketing services
- Provide a comprehensive nationwide offer to support clients who work across the US.
Our Exit Strategy needs to be further confirmed at the next Board Meeting, but we would like the company sold within eight to 10 years.
experienced consultants and creative sparks.
#2 Advertising Agency Business Plan Company Profile Section
The Company Profile in your Advertising Agency Business Plan is also known as the Company Description.
If it’s well written, your potential investors will find easy to understand your business model, your mission and goals, and how it’s going to meet the needs of your target market.
For the purpose of this business plan, we’ve included the following:
- The Management Team
- Mission Statement
Jack is a versatile communicator and has had almost 25 years’ experience of working with some of the biggest names in the US.
Previous to setting up Advertising Agency, Jack was a non-shareholding director at a Manhattan based public affairs agency for five years. Jack helped to transform that agency into a $1.5 million t/o company and win and service major blue chip clients.
Jack has been instrumental in turning Advertising Agency, a $6,000 start-up company into a $500,000 t/o profitable business in less than four years.
He is excellent at motivating and inspiring his team to deliver. Nicknamed ‘The Rainmaker’, Jack has been responsible for bringing 90% of the new business into Advertising Agency.
Jack is both a visionary and able to see the potential for major growth as well as grounded and able to manage the business to successfully deliver. He is innovative and has been able to shape Advertising Agency into an agency that has brought in the right skills to meet the ever-changing communications and marketing demands which clients now expect.
He is particularly skilled at managing media issues and crises. Jack gets on with people and is an expert at capturing hearts and minds. His work in reinventing consultation to help developers achieve planning consents has won awards.
He is as comfortable presenting to a board of directors, briefing the national press, discussing policy or planning applications with politicians as he is working with local people at grass roots level.
Jack has worked on numerous contentious planning applications, including mobile phone masts and supermarkets and wind farms, and he has an excellent understanding of the planning process as well as how to identify and work with supporters.
As an ex-journalist, Jenny has honed her skills as a writer and has the ability to write about a range of subjects to fit perfectly with the audience.
PR and writing is in her blood. She cut her teeth in PR in Manhattan, where she has worked for the last 14 years. Jenny has a natural ability to ‘sell’ stories to the media and handle press enquiries, having helped run the press office for one of the largest councils in the US.
Feature writing, blogging, opinion pieces, website copy and the good old, solid press release are her specialties. Jenny is brilliant at creating and placing content where it is guaranteed to reach the right audiences. A creative thinker, she helped bring brands to life through clever use of storytelling and media relations.
David is a communications expert with 10 years’ experience of working in public affairs, community consultation and PR. He is adept at understanding audiences and engaging in effective and creative ways.
From Facebook campaigns to viral films, from media releases to community meetings, Pete has a track record of delivering results for clients across the country.
A veteran of over 50 housing, supermarket, infrastructure and energy planning applications, Pete has been entrusted to manage community and stakeholder engagement by some of the UK’s leading names in housing, retail, energy, and regeneration.
His work has been recognized with PR industry awards for his innovative and committed approach to community consultation on complex and controversial planning proposals. As well as his effective approach to building relationships with communities, David has the skills required to decipher complicated planning proposals into plain language, with the help of a creative approach to visual communication.
An attention to detail and commitment to shared goals means David continues to enjoy excellent relationships with the clients, colleagues, and communities he has worked with.
Patrick has over a decade’s experience writing, editing, and designing websites; and as a freelance pop culture and tech journalist has written for a wide range of digital and print outlets including Wired, BBC America, Den of Geek and When Saturday Comes. As web developer, Patrick is responsible for in-house site development on behalf of our clients, tailoring clean, accessible and responsive websites to their specific needs. As a writer, he specializes in informative feature and promotional content, making information accessible and engaging to a wide audience.
Patricia is a qualified chartered accountant with a wealth of experience working as both a business advisor in the accounting profession and as a Finance Director in industry.
Since moving from the accounting profession, Patricia’s experience has been at director level – in both finance and managing director roles. This has led to experience in a wide range of business roles including leadership, operations, human resources, information technology as well as the excellent core knowledge of accountancy. As a commercially aware accountant she has the ability to look at the company’s business as a whole, not just the financials.
Patricia also has a strong IT background and holds a postgraduate diploma in Business Information Technology. Her skills working with both established and start-up businesses will help Advertising Agency’s on-going growth.
In November 2014 we rebranded the agency as Advertising Agency – to reflect our offer of PR, Consultation and Design. The registered business name remains as Advertising Agency Relations Limited.
The company was set-up using $6,000 of director loans in February 2013. Since then we have grown into a profit-making $457,473 turnover company and we remain debt free. Our financial year is 1st November to 31st October.
The company currently employs 11 full-time members of staff including two strong and experienced account directors, account managers, a social media manager, an account executive, a marketing executive, and a creative designer. We already have a strong client list which includes AllMart, Places for People, Manhattan Living, National College for high Speed Rail, and New York Bank. We are currently based in Manhattan but we are a national agency servicing clients across the US.
In May 2016 we pitched and won the Olympic Park account. This is a joint venture between Balfour Beatty and Places for People. The account is our first California office client and will commence in September. We will be announcing our win to coincide with our California office announcement in September. We will be providing our full range of communications services on what has the potential to be a 15-year project.
We have also just won two new accounts.
The first is to support the for High Speed Rail launch. This will be announced in September. We will be supporting the college with PR and creative services to drive the recruitment of students in California to help produce the engineers of the future and attract people into rail industry. This was a major win for us, as we competed against four other agencies. It’s a very significant fee (c.$100,000 pa) and opens the door to High Speed Rail. Furthermore, this is a landmark infrastructure client and the win also establishes us firmly in the education sector.
The second is to support the launch of Heaven – a new retirement village company. We will be providing a full range of services from planning consultation through to PR and sales support. We are also currently in discussions with some very significant names, including two volume house builders.
We have a growing reputation as a successful and reliable agency and this is reflected in the number of awards that Advertising Agency has managed to win within just 3 years of entering the market:
- New Agency of the Year (2013) – winner
- Public Affairs Agency of the Year (2014) – runner up
- Public Affairs Agency of the Year (2015) – winner
- Small agency of the Year (2016) – runner up
At the heart of our business lies our commitment to use an integrated approach across all PR, Public Affairs, Creative and Marketing disciplines at our disposal to address our clients’ needs and problems and provide innovative and effective solutions. We help our clients utilize and take advantage of all the communications channels available to ensure their message is seen, heard, and read in all the right places.
Our core principle is to provide best value for money and generate a reasonable return on investment.
Agency responsibility is central to our company ethos. This is why we donate a percentage of our pre-tax profits to charity and give staff the opportunity to spend two days a year supporting a local charity of their choice.
Advertising Agency is already establishing itself as a creative, personable, intelligent public affairs agency that can engage stakeholders and communities, identify supporters, and mobilize them to help influence the planning decisions being made in their areas. We are setting a new standard in public affairs – one of which focuses more on the communities in which we work, not just on politicians (like so many of our competitors). We have already out-performed agencies in California in securing a number of national PR clients.
#3 Advertising Agency Business Plan Products & Services Section
The Products and Services section needs to be much more than simply a list of what your new business is going to provide. This is especially important if you’re looking to get funding.
Make sure that you showcase the value, the quality, and the benefits of your business.
- What sets you apart from your competitors?
- How does your pricing compare?
- Why would people buy from you as opposed to your competitors?
Here’s the example.
Products And Services
WHAT WE SELL
- Advertising Agency provides a wide array of services. We have three teams of experienced specialists:
- Agency Consult
- Agency PR
- Agency Create
They offer their expertise in the following areas:
Agency Consult – Our team of highly experienced consultants offer their expertise in the following areas:
- Political/stakeholder mapping and engagement;
- Political analysis and briefing;
- Public consultation events;
- Project websites;
- Social media campaigns;
- Supporter activity;
and much more.
Agency PR – Our specialist PR team work for national and regional clients in the housing, construction and professional services:
- Press release writing;
- Crisis and issue management and support;
- Copy writing;
- Social media support;
- Website and blogs management;
- Effective PR support.
Agency Create – Our in-house design studio provides all aspects of graphic design, film production, and animation, including:
- All aspects of graphic design from websites to brochures;
- Film production and animation;
- Social media content writing.
From stakeholder mapping and political briefings to social media campaigns and community events, our expert public affairs team can help deliver the public and local authority support your planning application needs to be successful.
Effective public relations is central to every successful organization. Our experienced team of PR professionals and ex-journalists can raise your profile, shape your reputation and reach and engage new audiences for your business.
Exceptional design is key to getting your message across in the right way – and our in-house creative team can work with you to create the look and style you need for your social media, website, film, brochure, and much more.
Advertising Agency has two significant competitors based, among others, in California and Manhattan: Remarkable PR and ABC Communications. These are also public affairs and PR agencies providing similar services from government relations, through to stakeholder engagement, to issues and crisis management.
What makes Advertising Agency stand out is our new approach to public affairs. Instead of focusing primarily on the influencers and politicians – which is what most of our competitors do – we concentrate more on the communities we work for by trying to provide people with factual information and gaining support. The support is then harnessed to influence political decision making.
With a team of experienced professionals onboard and with excellent people skills, we are able to talk to chief executives and members of the community alike. Since the industry as a whole has a reputation of over-promising and under-delivering, we do our upmost to provide best value for money and establish a good name.
Finally, the potential of Advertising Agency graphics production, social media and internal communications function offers further opportunity.
Product And Service Development
Advertising Agency currently services clients in the housing, contractor, retail, education, property, and regeneration sectors. We are constantly monitoring market needs and developing our services. In future, with the right resource and experience, we will be targeting the following sectors:
- Transport and infrastructure
- Renewable and non-renewable Energy (specifically anaerobic digestion, shale gas)
- Retirement Villages
- Health Sectors
- Rural and farming sectors
Steps have been taken to protect the property of Advertising Agency, Agency Consult, Agency PR, and Agency Create in a trademark and copyright.
#4 Advertising Agency Business Plan Target Market Section
While conducting research for your business plan, it’s important to identify your potential audience – that is, the people who are going to buy your products.
Basically, you need to define your target market.
This section can include:
- Market Overview
- Market Needs
- Market Trends
- Market Growth
- Industry Analysis
Here’s our example.
The Public Affairs and Public Relations markets, both in Manhattan and other parts of the US, are very competitive. We are a dynamic agency delivering campaigns for clients in the property, construction, housing, retail, education, and energy sections, with aspirations to expand into other markets. We combine online expertise, media intelligence, political insight and engaging personalities to get results. We reach new audiences, achieve great media coverage, give communities a voice and help clients successfully deliver their projects.
We understand the planning process and we work on a range of planning applications from small housing developments, major housing-led regeneration projects, sports stadia, and new supermarkets to renewable energy schemes, as well as major infrastructure projects.
Unlike our competitors, we do not focus mainly on reaching to the most influential person as or politicians. We take a new approach and work on stablishing good relations within the community we are operating in, gain support for projects and make sure the people involved are presented with factual information.
To achieve this, we concentrate on the online activity, like the social media channels, starting a dedicated Facebook page, setting up a website, etc. We confront the opponents and clear out the misinformation. It is our job to give the community access to facts to get people drawn to the idea. We also organize consultations, where people can voice their opinions.
We all keep abreast with all the changes in the market by regularly reading and engaging with the relevant trade publications, e.g. Planning and Place making; Inside Housing; Estates Gazette and Property Week. Furthermore, we hold team meetings every morning to read the national papers and then share and brainstorm relevant insights and stories.
In addition to all that, we regularly attend relevant trade conferences, and we regularly meet with journalists and have very good relationships with our key media contacts who are often a good source of information. We are good networkers and often attend regular breakfast seminars and briefings.
California’s recovery from the 2008 recession continues. The property, regeneration and development sectors have strengthened over the past two years. Several major developments are continuing with a healthy pipeline of projects large and small are at various stages of planning.
The house-building program continues across California with varying levels of urgency.
When it comes to the housing industry, we are experiencing a significant growth where there is a huge concentration of large infrastructure projects. By opening a new office in California, we are planning to maximize on that.
Since we have significant experience working with businesses and individuals across the US, and the word of mouth is our most powerful tool, we are hoping that developers will be turning to our organization to help them with the planning process, consultation and PR.
The California PR and communications sector is very competitive. The larger, established PR companies had made a significant number of staff redundant as client budgets tightened since 2008. This has resulted in an increase in the number of smaller niche PR businesses starting up.
Since 2011 a lot of these smaller companies have been acquired by more established industry stalwarts as they seek to expand client lists and recoup talent. While this has resulted in a lot of consolidation it has also meant there is a lot of opportunity as potential clients review their PR and communications servicing. It is a highly competitive but very active market.
The market is also very diverse. As developers, construction companies, public sector regeneration bodies, property companies, architects, retail companies and housing associations seek to take advantage of the increasingly positive policy statements by both central and local government – as well as an increasingly attractive economic environment – there are opportunities for those service companies that can prove themselves to be valuable in terms of short term commercial growth and sound additional benefit to attract buyers and investors. In the housing sector, for example, the reduction in grants from central government means they have a requirement to distinguish themselves, work more closely with developers and attract private sector investment as well as establishing a demonstrable record of commercial self-sufficiency.
We believe that what is needed to operate successfully in the industry, is the right approach to the business. At Advertising Agency, we add a different dimension to the industry by offering a truly extensive range of services and focusing more on the community, and various ways to win over the potential opponents, rather than just directly engaging the politicians.
OUR CURRENT SECTORS
Advertising Agency currently services clients within the housing, contractor, retail, property, education and regeneration.
With the right resource and experience, we will be targeting the following sectors:
- Transport and Infrastructure
- Energy (specifically anaerobic digestion and shale gas)
- Retirement villages
We work with a growing number of clients across property, retail, energy and construction – proudly promoting, defending and developing brands across the country.
In future, we are planning to target the following sectors: transport and infrastructure, energy, retirement villages, leisure, health, education and rural and farming sectors.
The vast majority of our customer base are retainers. We believe that clients keep coming back to us, as they value our first class service. We have full communications skills in-house from design, social media and film production to traditional PR, marketing and copywriting. We are highly dependable when it comes to meeting deadlines: we deliver when we say we are going to and we get results. We make sure to cater to our clients’ needs and suggestions and not only that – we often go beyond what is required and come up with extra ideas and solutions. And last, but not least, we keep abreast with all the the regulations and policies. We know the sectors our clients operate it, and are always able to offer sound advice.
#5 Advertising Agency Business Plan Marketing Strategy Section
The marketing strategy section of your business plan describes who your customers are going to be and how you plan to communicate to them the services or goods you are offering.
If your potential customers are not made aware of your business, you are not going to stay in business for very long!
Defining a marketing strategy in your business plan highlights your understanding and knowledge and emphasizes what makes your business concept compelling. It also outlines how you plan to attract and maintain a customer/client base.
- How are you planning to advertise to your market?
- What is your competitive edge?
- What is your sales strategy?
Let’s look at the following example.
Strategy And Implementation
As far as marketing is concerned, Advertising Agency has not done any advertising or marketing, other than some low level engagement on social media (Facebook, Twitter, Pinterest, Tumblrt, LinkedIn and Instagram). Our success to date has largely been down to our team’s contacts books and especially word of mouth. This has been our most powerful and important tool from both our and the clients’ point of view.
To launch California, New York and to celebrate the announcement of the new Group structure we will be a having a drinks evening in both locations. Existing clients, prospective clients and our network of contacts will be invited. Apart from that, we will also have a launch communications plan to include press releases to the relevant media, and website banner ads taken out on targeted websites.
Our California MD will be joining a number of California property clubs and will be creating a separate communications strategy aimed specifically at the rail industry.
We will be introducing the Advertising Agency marketing plan which will include a regular HTML newsletter update to our database, a more considered and high profile push across all social media, and creating speaking opportunities at conferences.
Our Manhattan office will be moving from south Manhattan to the Manhattan City Centre in February – that will make a statement and will provide easier access to business, clients and potential clients.
Our services are provided on a monthly retainer basis (all PR, some public affairs clients) or for an agreed one-off fee (design work, most public affairs projects). Our strategy has been to build the business around clients paying a monthly retainer, with the more lucrative – but shorter term – project work adding to this. We continue to add services to our agency to create new revenue streams, the most recent example being to invest in an in-house video production offer which we promote to both existing and potentially new clients.
We have identified a California office because we are already servicing clients in California and the SE. What is more, we believe that the opportunities to grow are significant. The California office has the potential to see our turnover significantly increase over two years. The California office is opening on 5th September. We are planning to coincide the office announcement with the announcement of our Balfour Beatty JV win – our first California office client.
We are confident of securing some early business for the New York office via our planning consultant contacts. These consultants are working with a number of developers who all often require consultation and public affairs support.
With our connection to High Speed Rail and the rail industry via Jim Mann our California lead, we are confident of securing work in this sector. We anticipate there will be a permanent team of at least three based in New York by the end of 2017.
The opening of the New York office will also be followed by promotional activity: we are going to promote the team, including our associate director.
We are a niche agency which is now established and recognized in its peer group. The company directors have had offers of buy-outs from other, larger agencies lacking in public consultation experience. Just 9 months after starting, the agency was awarded Best New Agency at the PRCA industry awards.
What is more, the company has a good team (consultation, former youth worker, journalists, PR and design) with the right blend of experience to service current clients and bring in new business. MD Jack Black has a wealth of contacts and is well known and well respected across the industry and in sectors in which Social operates. Director Jenny Lowe is a former journalist with 15 years PR experience, and is able to manage the day-to-day running of the business with skills to manage the staff. Furthermore, although we are currently Manhattan-based, our staff are already working across schemes in California and know the California market well. The company is not tied to one region and has ambitions to branch out to other key areas.
On top of all that, our accounts are solid and turnover and gross profit is as we predicted for year 3 in our original business plan. We have secured the services of a freelance finance director.
Although we are a $500,000 t/o company, our current weakness is that we do not have the cashflow to enable us to grow.
We are starting to see significant opportunities with housebuilders and retailers bringing sites forward for consultation.
What is more, opening a California office is another major opportunity for us. We are already working on projects in the South. Our niche offer and the way we deliver planning application consultation will secure some major new contracts.
Thanks to a number of successful campaigns and our good reputation, people are keen to work for Agency – and there are a number of high quality, high earning staff speculatively sending their CVs. This gives us an opportunity to create a network of regional offices, starting in California. Building a stronger team to take the business forward.
Moreover, Jim Mann, our California office managing director is well connected in our markets and will bring an additional market – transport – into the agency. The company has the skills and ability to grow into new sectors such as retirement villages.
One of our biggest threats is the fact that there are clients who do not renew their contracts and the work dries up. In future, we are planning to implement a reliable CRM system to prevent that.
Another possible threat is that we might have trouble finding the right people to staff our California office, or that we win new business but cannot service it due to cashflow and not being able to grow our core team. California office could also not perform as well as we have planned.
We may also experience cashflow problems and lack of funding to further grow the business.
It may also happen, that our competitor will copy our business model and start delivering their services our way.
Advertising Agency is already establishing itself as a creative, personable, intelligent public affairs agency that can engage stakeholders and communities, identify supporters and mobilise them to help influence the planning decisions being made in their areas. We are setting a new standard in public affairs, one which focuses more on the communities in which we work, not just at politicians (like so many of our competitors). Although based in the north, we have already out- performed agencies in California in securing a number of national PR clients.
By building relationships with national brands such as WallMart and Places for People, we have the opportunity to gain an insight into what they require from an agency – and therefore how we can stay ahead of the competition.
Our main source of advertising our services is through our website: www.advertisingagency.com. We also promote our business across social media channels: Facebook, Twitter, Tumblr, Instagram, Linkedin, etc.,
Our reputation is everything and we also rely heavily on the word of mouth.
We are planning to implement a reliable CRM system to have contact with our clients and manage our extensive database of business contacts. We are also working towards a regular newsletter. For the time being, we do a lot of engagement through the LinkedIn page as well.
We might establish strategic alliances and partnerships in the future.
2016 is a key year in for Advertising Agency. Our aspiration is to grow into a >$1million turnover company by 2017 and hit $3million by 2021. To achieve this aim, we have identified the need to open an office in California in 2016 to help service the Greater California and open an office in New York to take advantage of the housing, renewables and infrastructure investment and also to invest in our creative and digital team which operates out of our Manhattan office.
Advertising Agency is currently valued at $1million
USE OF FUNDS
The funds would be used to open a California and New York office as well as grow our digital offer. We would hire the right team to secure and deliver new business in these areas. Including:
Expanding into the transport and renewable sectors
Be at the pitch table to support the consultation for major housing and regeneration projects
Service the volume housebuilders and other developers in growing regional southern and eastern markets.
Work alongside some of the biggest California based planning agencies.
We have identified office space in California which is at one of our clients, Places for People’s offices. We are planning to start with two desks. There would be a one year license agreement for the office space. The office will be located at: West Street California .
The California office will require a small team with senior leadership in order to successfully service existing clients and to exploit new business opportunities.
We have identified Jim Mann to lead the California office. Jim has just left the media team for USA Media and has been known to Jack Black since 1997.
In the first 12 months it is likely that Jim will require the support of at least two other permanent members of staff that would include a deputy (account director) and an account manager / senior account executive. Other resource would be pulled in from a bank of freelance contacts, as and when required.
Jim has worked in the PR industry for 20 years. He has worked in the public sector and for some of the best known major PR agencies. He has experience of leading PR campaigns for some of the largest FMCG clients (including Nike), he has held Board level positions and has set up and sold two agencies of his own.
He has worked with several developers, housing agencies, planners and architects.
In 2011 Jim set up Mann PR, a specialist PR company focused on the property, regeneration and development sectors in California. In 2013, this was sold.
In its first year of trading, we forecast that we could earn in the region of $75,000 per annum from one volume housebuilder alone –providing consultation and public affairs support.
Additional revenue would be generated via project work coming from the retail and transport sectors. We forecast that individual project work would generate $100,0000
We would seek to secure at least two retained clients, generating c.$75,000
The office costs will be $7,200 for a desk in a serviced office.
NEW YORK OPERATING ENVIRONMENT
- Agency is already working with a number of clients in New York
- Wide range of contacts already established
- Existing key clients have offices/projects based here
- New York office – Senior Consultant identified to run and help drive new business
- Huge potential growth in this city
- Identified a strong candidate to run the New York operation
The New York office will be headed up by group director Gary Johns. Gary is already leading on projects in New York for WallMart. Gary will be supported by agency MD Jack Black. Jack is very well connected with the New York leadership and this year attended MIM with the New York Local Enterprise Partnership.
#6 Advertising Agency Business Plan Financial Section
Ensuring that you have a COMPLETE financial plan within your business plan will DOUBLE your chances of investment as well as the future growth of your business.
A lot of small businesses don’t have a financial plan and it’s essential to your long-term success and business growth.
We’ve listed here the key elements you need to have in a successful financial section:
- Initial Start Up Expenses – Especially if this is a start-up idea, it’s essential that you have a description of what you need for investment purposes.
- Sales Forecast – It’s essential to have an estimate of your monthly sales revenue as well as annual. This helps you understand your business and plan out any marketing and growth strategies.
- Direct cost of sales – Measures the amount of cash the company will have to spend to produce the goods or services sold by the company. The direct cost of sales only includes the expenses directly associated to production.
- Profit and Loss Forecast – This is a statement summarizing the revenues, costs and expenses incurred during a specific period.
- Balance Sheet – This is the financial position of the company and states its assets, liabilities and owners’ equity at a particular point in time. It illustrates the business’s net worth.
- Loan Repayment – This shows the lender or potential investor the act of paying back any monies.
So… Are you ready to look at some figures?
Our predicted fee income from the New York office in year one is $100k, rising to $450k in year two and $650k in year three.
Budget (with Monthly Detail)
Additional Resources:To help you even further in creating your business plan, why not check out the following articles? They will help you write the perfect plan to impress:
Now, over to you...
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