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Auditing and Consulting Business Plan Leave a comment
Artemide Auditing & Consulting AG (Artemide AC) is in the process of being formed as an ongoing sole proprietorship owned and operated by Sandor Artemide AC. The company is a spinoff by Daten RiffwaldEnnetmoos AG. 25% of the participation will be shared between Artemide AC AC and Daten Riffwald Ennetmoos. This plan will serve as a guideline for the continuation and management of the business under the new company and as a basis for marketing proposals. Artemide AC is focused on two things: To generate profit and to grow at an ambitious and manageable pace.
The mission of Artemide AC is to provide fast and reliable services in auditing and consulting to small and medium businesses (SMB), individuals, and other organizations.
Artemide AC has found success by being visible to new business leads, networking and responsiveness to other professionals, as well as quality.
Although auditing will be the primary service initially, other specialties will be available in the future.
The general objective is to focus on the specialized services, such as startups, analysis, investigations, etc. It is our goal to be a leader and innovator in this area in Luzern. The company forecasts that sales growth will be around 10% over the next three fiscal years.
Artemide AC’s greatest assets are having visibility to generate new business leads and strong focus on building relationships with clients. We also offer high quality services.
The cooperation between Artemide AC (Data Riffwald Ennetmoos) and Artemide AC can be flexible with the aim to adjust quickly to meet market demand.
The sole proprietorship company “/Sandor Artemide dipl. Wirtschaftsprufer” was founded on 8 March 1996. Within the first ten months, the company was able to generate sales of $50,000.
Artemide AC has its own office in Luzern. It is separate from Daten RiffwaldEnnetmoos AG. Daten Riffwald Ennetmoos assumes the duties of secretary and phone response.
There are four major types of competition in Switzerland’s fiduciary industry. These are individual owners and small fiduciary or accounting offices, as well as medium fiduciary office with 6 to 25 employees. These offices can be used for general tax and financial consulting. There are also large companies that offer auditing and consulting services. These companies employ several hundred people. They tend to operate more in the lucrative consulting business. There are new competition in this market, including banks and Assurances. Banks are now active in start-up consulting, corporate finance, mergers and acquisitions, and others.
Artemide AC’s success depends on the technology. It is vital that the company stays up to date on technological developments. Additionally, it will be important for the company to allocate a portion of each year’s revenues towards upgrading equipment and software used in daily operations.
Artemide AC has a targeted market strategy. Logical segmentation divides the market into the following: Investors, Individuals, Small Businesses and Medium Businesses, Large Businesses, Authorities and Public Organizations. Our future development is dependent on the importance of Individual persons, Investors, Small and Medium Business as well.
Our business has no main competitors. Artemide AC does not have any major competitors in the large market for services. The general market is growing at a rate of between 5% to 10% annually.
Over the next few years, there are three major opportunities (needs), in the fiduciary industry:
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- Bookkeeping, and other services related the operative financial administration (payroll cost-accounting, accounting to pension funds, etc. ).
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- Consulting and special mandates such as financial planning, business evaluation, merger and acquisition valuation, special audits, etc.
- Auditing for legal compliance (incl. IAS and other standard) as an independent and responsible institution.
Additionally, there are three major market trends that the company believes are important for our business.
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- Due to higher failure rates, there is more litigation.
- The growth and expansion of outsourced financial advisory.
Artemide AC has all of these opportunities to grow.
We believe that our business is undergoing a significant transformation. The competitors must be generalists and specialists at the same time. A primary business segment is required for fiduciary businesses of any size, small or medium. It is necessary to keep the primary business (e.g., accounting) at the forefront. The other fiduciary activities like consulting, auditing and tax must be scaled back. In the core business, the company must be current with the services, while having the capacity to innovate (like new accounting services related to the Internet).
Artemide AC’’s competitive edge lies in Sandor Artemide’s well-established reputation and ability to target this niche market.
The company’s strategy for sales will be built on the building of long-term relationships with customers, which will result into repeat sales. According to the company, revenues will amount to approximately $232,000 for Year 3. The company also expects profits. The company will manage its assets and create profits with no debt financing. It does not anticipate any cash flow problems.
Artemide AC majority owner Sandor Artemide will assume the strategic management functions. Brigitte Artemide will be in charge of market research and customer support. Because no significant increases in personnel are anticipated in the next three-years, Mr. Artemide’s managerial functions will continue throughout these years.
1.1 Mission
Artemide ACՉ۪s mission statement is simple and straight-forward:
- Purpose – Artemide AC exists to provide complete, reliable and high quality services to SMBs, individuals, lawyers, and authorities. Services must give solutions and results!
- Vision Artemide AC creates a name for itself in Luzern.
Success keys 1.2
The keys to success at Artemide Ac are:
- Create visibility to increase business leads.
- Relationships with clients (developing loyal, respectful, and intensive contact with both clients and potential clients).
- Marketing/Strategy and networking with professionals
- Collaboration with Daten Riffwald–Ennetmoos AG for general fiduciary service and IT services
- Responsiveness to clients (fast response time for special problems).
- Quality (especially in reporting information).
- Excellence in fulfilling the commitment
- You must be open to other languages and have the willpower to build interregional as well as international connections.
1.3 Objectives
This business plan has the following objectives:
- To provide a written guide for managing this business; a strategic framework for developing a comprehensive tactical marketing philosophy.
- This plan is not meant to be used for financing. It is intended to improve internal operations.
- This plan will provide monthly projections and summaries for the current plan year.
Artemide Auditing & Consulting’s objectives are:
- The general objective is to shift the focus of activities towards specialized service (analyses, investigations and startups, etc.). It is our goal to be the leader in this field in the Luzern.
- Cash flow – – To provide sufficient cash flow for future growth and development as well to support the owners’ other objectives.
- Growth – To expand the business at a rate that is both challenging and manageable, serving the market with innovation and adaptability. (In the next three years, growth is projected to be 10% of sales.
