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Written by Elma Steven | Updated on January, 2024


Executive Summary

Your executive summary is the first part of your business plan, but you usually write it last because it is a summary of all the important parts.

The point of your Executive Summary is to get the reader’s attention quickly. Tell them what kind of concierge business you run and what its status is. For example, are you a new business, do you have a concierge service that you want to grow, or do you run concierge services in more than one market? Next, give an overview of each part of your plan that follows. For example, you could give a brief overview of the industry of concierge services. Talk about what kind of concierge business you are running. Detail your direct competitors. Tell us about your ideal customers. Give a brief overview of your marketing plan. Find the important people on your team. And explain what your financial plan is.

Company Analysis

In your company analysis, you will describe the type of concierge services business you are running.

For instance, you could run one of the following types of concierge services businesses:

  1. Shopping: This type of business does a wide range of shopping tasks, from buying groceries to finding a specific expensive item.
  1. This kind of business makes reservations and buys tickets for a wide range of events and travel needs.
  1. Courier: This type of business delivers mail, makes bank deposits, delivers laundry or dry cleaning, or runs other errands.
  1. Personal assistant: This type of business helps with whatever the client wants, such as the tasks listed above, as well as tasks like electronic organization, social media management, research, etc.

In the Company Analysis section of your business plan, you need to say what kind of concierge services business you will run and give some background on the business.

Answers should be given to questions like:

  • When did you start your business, and why?
  • What important steps have you taken so far? Milestones could be things like how many people were helped, how well-known the clients were, etc.
  • Your legal structure. Are you set up as an S-Corporation? An LLC? A single-person business? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to give an overview of the concierge services industry.

Even though this may seem pointless, it has more than one use.

First, learning about the industry of concierge services makes you smarter. It gives you a better idea of the market you are in.

Second, market research can help you make your strategy better, especially if it shows you market trends.

The third reason to do market research is to show your readers that you know a lot about your field. You do just that by doing the research and putting it in your plan.

In the industry analysis section of your concierge services business plan, you should answer the following questions:

  • How much money does the concierge services industry make?
  • Is the market going down or up?
  • Who are your main rivals in the market?
  • Who are the main market suppliers?
  • What changes are happening in the field?
  • How fast is the industry expected to grow in the next 5–10 years?
  • How big is the market that matters? That is, how big is the market for your business that offers concierge services? You can figure out such a number by figuring out how big the market is in the whole country and then applying that number to the population in your area.

Customer Analysis

In the section of your business plan for concierge services called “Customer Analysis,” you must describe the customers you serve or expect to serve.

Large companies, political groups, and busy people are all examples of customer segments.

As you might guess, the type of concierge services business you run will depend a lot on the customer segment(s) you choose. Clearly, marketing campaigns for political groups would be different from those for, say, socialites.

Try to figure out who your ideal customers are based on how they look and how they think. In terms of demographics, talk about the ages, genders, locations, and income levels of the people you want to serve. Because most concierge services mostly work with people in the same city or town, it is easy to find demographic information on government websites.

Psychographic profiles explain what your target customers want and need. The better you can understand and define these needs, the easier it will be to get customers and keep them coming back.

Competitive Analysis

In your competitive analysis, you should list your business’s direct and indirect competitors and then focus on the direct ones.

Other concierge services are direct competitors.

Indirect competitors are other places where customers can buy things that aren’t direct competitors. This includes people who prefer to do things themselves or with the help of personal assistants.

In terms of direct competition, you need to talk about the other concierge services businesses that you are in direct competition with. Most likely, the closest businesses that offer concierge services will be your direct competitors.

Give an overview of each of these competitors’ businesses and list their strengths and weaknesses. Unless you’ve worked at one of your competitors’ companies, you won’t know everything about them. But you should be able to find out key facts about them, such as:

What kind of clients do they work with?

Do they specialize in certain services, like making travel plans or finding a certain piece of art, etc.?

  • How much do they charge (high, low, etc.)?
  • What can they do well?
  • What do they do wrong?

For the last two questions, try to answer them from the customers’ point of view. And don’t be afraid to ask the customers of your competitors what they like and dislike about them.

The last part of your competitive analysis section is to list the ways you are better than your competitors. As an example:

  • Will you offer more types of services?
  • Will you make things easier, like letting people make requests online?
  • Will you offer customers personalized service?
  • Will you price things better?

Think about how you will do better than your competitors and write them down in this part of your plan.

Marketing Plan

Usually, a marketing plan has four parts: the product, the price, the place, and the promotion. Your marketing plan for a concierge services business plan should include the following:

Product: In the product section, you should repeat the type of concierge services company that you wrote about in your Company Analysis. Then, give specifics about the products you’ll be selling. For example, does your concierge services business do more than just make dinner reservations? For example, do they also make restaurant suggestions and remind people of upcoming anniversaries or other important dates that usually involve going out to eat?

Price: Write down the prices you’ll be charging and how they compare to those of your competitors. In your marketing plan, the product and price sections are basically where you list the services you offer and how much they cost.

Place is where your concierge services company is located. Write down where you are and how that will affect your success. For example, will you have a physical office or will you work with clients online and/or at their homes or places of business? In this section, talk about how where you are will affect how many people want to use your services.

Promotions: The last part of your marketing plan for your concierge services is the section on promotions. Here, you’ll write down how you’ll get people to your location (s). Here are some ways you could promote your business:

  • Putting ads in newspapers and magazines in your area
  • Contacting local websites
  • Signs and billboards
  • Flyers
  • Social media marketing
  • Local radio advertising

Operations Plan

In the other parts of your business plan, you talked about your goals. In your operations plan, you talk about how you will reach those goals. Your plan for operations should have two separate parts.

Everyday short-term processes include all of the tasks you need to do to run your concierge services business, such as marketing, giving consultations, completing tasks, maintaining company vehicles, staying up-to-date on restaurants and events, etc. Long-term goals are the goals you want to reach in the future. These could be the dates when you expect to help your 100th person or when you hope to make $X. It could also be when you plan to open a concierge services business in a new area.

Management Team

Your concierge services business needs a strong management team to show that it can be successful. Showcase the backgrounds of your key players, focusing on the skills and experiences that prove they can help a company grow.

You and/or your team members should have direct experience running businesses that provide concierge services. If so, talk about your experience and skills. But also highlight any experience you think will help your business succeed.

If your team is missing something, you might want to put together an advisory board. A two-to-eight-person advisory board would help your business in the same way that a mentor would. They would help answer questions and give advice on how to plan. If you need to, look for advisory board members who have worked with customers or run small businesses successfully.

Financial Plan

Your 5-year financial plan should include a monthly or quarterly breakdown for the first year, then an annual breakdown after that. Your income statement, balance sheet, and cash flow statement are all part of your financial statements.

A more common name for an income statement is a Profit and Loss statement, or P&L. It shows your income and then takes away your expenses to show if you made a profit.

You need to make assumptions in order to make your income statement. For example, do you work with clients on a contract basis or as-needed? And will sales grow by 2% or 10% every year? As you might expect, the financial forecasts for your business will be greatly affected by the assumptions you choose. Do as much research as you can to try to make sure your assumptions are true.

Balance sheets show both your assets and your debts. Balance sheets can have a lot of information, but try to boil them down to the most important parts. For example, if you spend $50,000 building up your concierge services business, you won’t make money right away. Instead, it is an asset that you can use to make money for years to come. Likewise, if a bank gives you a check for $50,000, you don’t have to pay it back right away. Instead, you will have to pay that back over time.

Cash Flow Statement: Your cash flow statement will help you figure out how much money you need to start or grow your business and make sure you never run out of cash. Most business owners and entrepreneurs don’t realize that you can make money but still go bankrupt if you run out of money.

When making your Income Statement and Balance Sheet, be sure to include some of the most important costs of starting or growing a concierge services business:

  • Setting up an office, including furniture, construction, and other things.
  • The price of buying or renting a company car
  • The price of office supplies and software
  • Payroll or wages given to employees Business insurance
  • Taxes and licenses:
  • Legal expenses