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Private Counseling Practice business plan for starting your own social service agency
Are you a psychologist, social worker, or marriage counselor? Did you know that you can make money from a prosperous business by going into private practice like any of the trainers mentioned above? Yes, the profession of counseling, social workers, and marriage counselors are one of the largest and most lucrative professions in the United States, open to interested entrepreneurs who are qualified and able to come in as a private trainee and earn a great income. This counseling private practice business plan has the insights.
Executive Summary
USA Private Counselors LLP is a professional and licensed consulting (private practice) organization that specializes in helping its clients cope with their challenges, achieve their personal goals, and improve their skills, competence and productivity.
The scope of our private counseling practice business offerings covers areas such as clinical psychology, industry-organizational psychology, all other psychology, psychosocial work, marriage, and family therapy, child, family and school social workers, online counseling services and retail sale of self-help books. And materials and others.
Our business is located between a well-populated residential estate and a business district in Pennsylvania – Smethport, Pennsylvania, USA.
USA Private Counselors LLP, is a customer-centric and consequently operated private consulting firm that offers a wide range of consulting, learning approaches and experience at an affordable fee that is in any way to put a hole in our clients’ pockets. We make sure to work hard to meet and exceed the expectations of our customers because whenever they hire our services, it is related to their professional and personal goals.
The Business
USA Private Counselors LLP is the overall best interest of our clients comes first, and everything we do is entirely guided by our values and professional ethics. We make sure to hire professional and certified psychologists, social workers and counselors of various skills who are well experienced and enthusiastic.
Management of Social Service Agency
In the private counseling practice business plan, we ensure that we are responsible for the highest standards by accurately and fully meeting the needs of our customers. We will cultivate a work ambience that gives a humane, sustainable approach to practicing, earning and living in our world for our associates, employees and our clients.
Customers of Social Service Agency
While starting a social service agency it may seem like a dream too high, but we are sure it will attract more customers like celebrities, public figures, and Private Job based customers. As we have done lots of research and feasibility, studies and we are excited and confident that Smethport is the right place to start our private consulting business.
Business Target
Our primary goal is to satisfy our customers and establish our business location. So people can learn about us and our dress code. Our business plan Private counseling practice is to gain as many customers as possible and expand our Social service agency line to many countries. Profit is a secondary thing, but the primary concern is to satisfy our customers and their queries.
1. How to start a business?
Well, this is the most challenging part because the person starting the business never knows about the future. Whether the business will work or not; it will always be an opportunity, and because of this, many are sacred. Most people ask how to start a business? Therefore, the answer here is, you need to identify the needs of the people. You need to check the latest market trends and what people want to do.
| Start-up Expenses | ||
| Legal | $750 | |
| Stationery etc. | $10,000 | |
| Brochures | $5,000 | |
| Consultants | $50,000 | |
| Insurance | $10,000 | |
| Rent | $2,105 | |
| Research and Development | $15,000 | |
| Expensed Equipment | $100,000 | |
| Other | $0 | |
| Total Start-up Expenses | $192,855 | |
| Start-up Assets | ||
| Cash Required | $2,400,000 | |
| Start-up Inventory | $560,000 | |
| Other Current Assets | $0 | |
| Long-term Assets | $69,800 | |
| Total Assets | $94,938 | |
| Total Requirements | $287,793 |
2. What are the costs involved in opening a business?
The start-up cost of the counseling business can be low or high depending on your goals, vision and aspirations for your business. The start-up capital for a home-based private consulting business without any overhead can be as low as $250,000 to $350,000, while a medium and large scale value is definitely higher.
3. How to implement business management?
Our management staff and this is based on the performance of the company for a period of three years or more. We know that if it is put in place, we will be able to successfully hire and retain the best staff for management, which we can get in the industry. They will be more dedicated to helping us build the business of our dreams.
4. What target of this business?
We have a private counseling practice business plan, our target areas are local people, celebrities, and social media influencers, and they can advertise our agency differently.
Company Summary
Plan your business
USA Private Consultants LLP will ensure that the right foundation, structures, and processes are in place to ensure that the interests of our customers employees are well taken care of. Our company’s corporate culture is designed to move our business to greater heights, and the training and retraining of our employees will burn at the top of our business strategy.
Define your brand
The new business will have to face the initial problems in establishing a brand name in the head of the customer. We treat our customers well and take care of their needs and recommendations. We also did tailor-made projects for clients. We discuss with our team what the customer needs and how to apply it.
How to promote & market a business
The truth is, if your customers have experienced a big difference in their lives as a result of hiring your company’s services, they will be compelled to help improve your company.
Establish a web presence
Another notable trend in this field is the influence of technology; the advent of technology has led to an increase in the income of private consultants around the world. With technology, it is not easy for private consultants to provide advice to their client’s thousands of kilometers away from them.
Company Owner
USA Private Consultants LLP- may be a new private consulting agency in Pennsylvania, but the board of directors and business owner are considered gurus in the industry. The woman is a leading professional, licensed and highly qualified psychologist and marriage counselor. She can help her clients cope with their challenges and successfully achieve their personal goal in the short term. These are the areas where we consider a competitive advantage.
Why the social service agency is being started
Our owner loves to start new social services agency, but they feel like they can share their social ideas with others. They are learning about social causes and are now going to propose a big agency or business project so that people can also benefit from their practicing department.
How the social service agency will be started
Being talented is one thing, knowing how to make people successful is another; That’s why you need to constantly get feedback to measure the progress and performance of your agency. Keeping all these things mind and with the help of private practice counseling business plan template, the business will be started.
Products
Our mission to start our private practice counselling business is to help our clients and staff to meet their challenges, achieve their personal goals, improve their skills, competence and productivity, and of course, make a profit from the field of counseling. In addition, you can work on starting your own counselling practice agency as well.
Our service offerings are listed below;
- Clinical Psychology
- Industrial-organizational psychology
- All other psychology
- Social work on mental health
- Marriage and family therapy
- Child, family and school social workers
- Online consulting services
Marketing Analysis of Counseling Services
Market Trends
The trend in the field of Counseling Services, social workers and other counsellors over the past half-decade shows that the industry continues to grow. Private consulting services are required regardless of economic conditions, which protect the industry from economic fluctuations.
Marketing Segmentation
USA Private Consultants LLP will generate revenue by providing the following private consulting services;
| Market Analysis | |||||||
| Potential Customers | Growth | YEAR 1 | YEAR 2 | YEAR 3 | YEAR 4 | Year 5 | CAGR |
| High-Income Women, 30+, in this area | 5% | 2,400 | 2,520 | 2,646 | 2,778 | 2,917 | 5.00% |
| Personal Stylist Customers | 30% | 10 | 13 | 17 | 22 | 29 | 30.50% |
| Total | 5.15% | 2,410 | 2,533 | 2,663 | 2,800 | 2,946 | 5.15% |
- Clinical Psychology
- Industrial-organizational psychology
- All other counselling
- Social work on mental health
- Marriage and family therapy
- Child, family and school social workers
- Online consulting services
- Retail sale of self-help books and supplies
Business Target
After opening a private practice business, our business target cuts across different classes of people and people from all walks of life. We come with a business concept and company profile in the field of psychologists, social workers and marriage counselors, which will help you, work with clients from different backgrounds and different positions.
Business plan for investors
Product Pricing
Generally, starting your own counselling practice services are charged flat rates on an hourly billing rate and a weekly or monthly basis. As a result, USA Private Consultants LLP will charge flat fees to our clients, except for a few cases where special clients will have to pay on an hourly basis.
Marketing Strategy
We note that there is fierce competition among private consulting firms in the United States; So we were able to hire some of the best marketing staff to handle our entire sales and marketing.
Also, our sales and marketing staff will be recruited based on their vast experience in the industry, and the goals of USA Private Consultants LLP.
Competitive Analysis
Being more competitive in the field of counselling, the staff, counsellor and practitioners will provide consistent quality service, and our clients can experience significant difference and improvement, and meet the expectations of your clients at all times you can meet.
Sales Strategy
USA Private Consultants LLP is all set to use the following sales strategies to attract customers. The sample proposal for counseling services will include the followings-
- Introduce our private consulting firm by sending introductory letters with our brochure to key stakeholders in Corporate, Religious Institutions, Families, and Smethport – Pennsylvania.
- Print flyers and business cards and drop them strategically in offices, libraries, public facilities and train stations and more.
- Use close friends and family to spread the word about our private consulting firm.
- Put information about our private consulting agency on bulletin boards in places like schools, libraries and local coffee shops.
- Placing a small or classified ad in the newspaper or a local publication about our private consulting firm
- Advertise our private consulting firm in relevant educational magazines, newspapers, television stations and radio stations.
Sales Monthly
Well, here is a chart below where you can find monthly sales.
Sales Yearly
We are also exploring the market and its sales in the marketing plan for counseling center. Well, the counsellng is doing well, as you can see in the chart below.
Sales Forecast
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We were able to critically explore the private consulting market, explore our opportunities in the industry, and we were confident and able to come up with the following sales forecast. Sales forecasts are based on data collected in the field and some strange assumptions for similar startups in Smethport – Pennsylvania.
Below are the sales forecasts for USA Private Consultants LLP, which are based on the location of our personal training and training company, and of course the wide range of training we offer-
- First financial year : $150,000 to $400,000
- Second financial Year : $350,000 to $500,000
- Third financial year : $500,000 to $550,000
| Sales Forecast | Year 1 | Year 2 | Year 3 |
| Clinical Psychology | $ 35,000 | $ 42,000 | $ 50,400 |
| Industrial-organizational psychology | $ 42,000 | $ 50,400 | $ 60,480 |
| All other counselling | $ 49,000 | $ 58,800 | $ 70,560 |
| Social work on mental health | $ 29,000 | $ 34,800 | $ 41,760 |
| Marriage and family therapy | $ 43,000 | $ 51,600 | $ 61,920 |
| Child, family and school social workers | $ 56,000 | $ 67,200 | $ 80,640 |
| Online consulting services | $ 60,102 | $ 72,122 | $ 86,547 |
| Retail sale of self-help books and supplies | $ 34,500 | $ 41,400 | $ 49,680 |
| Total Sales | $ 348,602 | $ 418,322 | $ 501,987 |
| Year 1 | Year 2 | Year 3 | |
| Clinical Psychology | $ 20,588 | $ 23,774 | $ 24,012 |
| Industrial-organizational psychology | $ 17,370 | $ 20,176 | $ 20,378 |
| All other counselling | $ 15,684 | $ 18,272 | $ 18,455 |
| Social work on mental health | $ 16,447 | $ 18,973 | $ 19,163 |
| Marriage and family therapy | $ 17,483 | $ 20,288 | $ 20,491 |
| Child, family and school social workers | $ 13,874 | $ 16,200 | $ 16,362 |
| Online consulting services | $ 9,922 | $ 11,670 | $ 11,787 |
| Retail sale of self-help books and supplies | $ 11,990 | $ 14,155 | $ 14,296 |
| Subtotal Direct Cost of Sales | $ 123,358 | $ 143,508 | $ 144,944 |
Personnel plan
Company Staff
Considering the above counseling services, we have decided to appoint qualified and competent hands to hold the following posts;
- Chief Partner / CEO
- Psychologists, social workers and marriage counselors
- Office Administrator
- Accountant
- Marketing executives
- Customer Service Administrator
Average Salary of Employees
Well, this is the most important process for counseling private practice business plan. However, in the table below we have mentioned all the details about the salary.
| Personnel Plan | |||
| Year 1 | Year 2 | Year 3 | |
| Chief Partner / CEO | $45,000 | $49,500 | $54,450 |
| Psychologists, social workers and marriage counselors | $34,000 | $37,400 | $41,140 |
| Office Administrator | $23,000 | $25,300 | $27,830 |
| Accountant | $28,000 | $30,800 | $33,880 |
| Marketing executives | $40,000 | $44,000 | $48,400 |
| Customer Service Administrator | $20,000 | $22,000 | $24,200 |
| Total Salaries | $190,000 | $209,000 | $229,900 |
Financial Plan
In setting up a private counselling practice business plan, size, or cost depends on the approach and size you want to undertake. If you rent a space and want to go big, you will need a large amount of capital as you need to make sure your employees take good care of you.
Important Assumptions
According to our assumptions, we will follow this plan to increase our business naturally. If there are any natural disasters, we control the things of our human condition. You can see the map.
| General Assumptions | |||
| Year 1 | Year 2 | Year 3 | |
| Plan Month | 1 | 2 | 3 |
| Current Interest Rate | 10.00% | 11.00% | 12.00% |
| Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
| Tax Rate | 26.42% | 27.76% | 28.12% |
| Other | 0 | 0 | 0 |
Break-even Analysis
The Break-Even Analysis is based on our private counseling practice business plan to reach the level in only one year.
| Break-Even Analysis | |
| Monthly Revenue Break-even | $81,000 |
| Assumptions: | |
| Average Percent Variable Cost | 28% |
| Estimated Monthly Fixed Cost | $41,972.00 |
Projected Profit and Loss
Our private counselling practice business works well, but we don’t cover the monthly budget, so we try to cover it for the next four months.
| Pro Forma Profit And Loss | |||
| Sales | $348,602 | $418,322 | $501,987 |
| Direct Cost of Sales | $123,358 | $143,508 | $144,944 |
| Other Costs of Goods | $0 | $0 | $0 |
| Total Cost of Sales | $123,358 | $143,508 | $144,944 |
| Gross Margin | $225,244 | $274,814 | $357,043 |
| Gross Margin % | 64.6% | 65.7% | 71.1% |
| Expenses | |||
| Payroll | $190,000 | $209,000 | $229,900 |
| Sales and Marketing and Other Expenses | $1,000 | $1,000 | $1,000 |
| Depreciation | $389 | $389 | $389 |
| Rent | $1,055 | $1,055 | $1,055 |
| Utilities | $900 | $1,100 | $1,300 |
| Insurance | $141 | $141 | $141 |
| Payroll Taxes 15% | $0 | $0 | $0 |
| Other | $0 | $0 | $0 |
| Total Operating Expenses | $193,485 | $212,685 | $233,785 |
| Profit Before Interest and Taxes | $31,759 | $62,129 | $123,258 |
| EBITDA | $31,759 | $62,129 | $123,258 |
| Interest Expense | $316 | $312 | $309 |
| Taxes Incurred | $6,603 | $12,982 | $25,819 |
| Net Profit | $24,840 | $48,836 | $97,130 |
| Net Profit/Sales | 7% | 12% | 19% |
| Net Profit/Sales | 0.00% | 0.00% | 0.00% |
Profit Monthly
The monthly profit chart will be as below-
Profit Yearly
The yearly profit chart will be as below-
Gross Margin Monthly
The below gross margin lines are showing the future figures, and we hope they will get thicker by the time.
Gross Margin Yearly
Slow, dense lines, as we can see. This year we will cover.
Projected Cash Flow
The psychotherapy finances or cash flow can be seen below where we can not only get out of debt, but also find profits.
| Pro Forma Cash Flow | |||
| Cash Received | |||
| Cash from Operations | |||
| Cash Sales | $66,840 | $97,760 | $113,402 |
| Subtotal Cash from Operations | $66,840 | $97,760 | $113,402 |
| Additional Cash Received | |||
| Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
| New Current Borrowing | $0 | $0 | $0 |
| New Other Liabilities (interest-free) | $0 | $0 | $0 |
| New Long-term Liabilities | $0 | $0 | $0 |
| Sales of Other Current Assets | $0 | $0 | $0 |
| Sales of Long-term Assets | $0 | $0 | $0 |
| New Investment Received | $0 | $0 | $0 |
| Subtotal Cash Received | $66,840 | $97,760 | $113,402 |
| Expenditures | Year 1 | Year 2 | Year 3 |
| Expenditures from Operations | |||
| Cash Spending | $20,094 | $23,837 | $30,784 |
| Bill Payments | $52,681 | $63,756 | $68,288 |
| Subtotal Spent on Operations | $72,775 | $87,593 | $99,072 |
| Additional Cash Spent | |||
| Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
| Principal Repayment of Current Borrowing | $5,000 | $0 | $0 |
| Other Liabilities Principal Repayment | $0 | $0 | $0 |
| Long-term Liabilities Principal Repayment | $7,000 | $7,000 | $7,000 |
| Purchase Other Current Assets | $0 | $0 | $0 |
| Purchase Long-term Assets | $0 | $0 | $0 |
| Dividends | $0 | $0 | $0 |
| Subtotal Cash Spent | $84,775 | $94,593 | $106,072 |
| Net Cash Flow | ($17,935) | $3,167 | $7,329 |
| Cash Balance | $6,883 | $10,050 | $17,379 |
Projected Balance Sheet
| Pro Forma Balance Sheet | |||
| Assets | Year 1 | Year 2 | Year 3 |
| Current Assets | |||
| Cash | $184,666 | $218,525 | $252,384 |
| Accounts Receivable | $12,613 | $14,493 | $16,373 |
| Inventory | $2,980 | $3,450 | $3,920 |
| Other Current Assets | $1,000 | $1,000 | $1,000 |
| TOTAL CURRENT ASSETS | $201,259 | $237,468 | $273,677 |
| Long-term Assets | |||
| Long-term Assets | $10,000 | $10,000 | $10,000 |
| Accumulated Depreciation | $12,420 | $14,490 | $16,560 |
| TOTAL LONG-TERM ASSETS | $980 | $610 | $240 |
| TOTAL ASSETS | $198,839 | $232,978 | $267,117 |
| Liabilities and Capital | Year 1 | Year 2 | Year 3 |
| Current Liabilities | |||
| Accounts Payable | $9,482 | $10,792 | $12,102 |
| Current Borrowing | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 |
| SUBTOTAL CURRENT LIABILITIES | $9,482 | $10,792 | $12,102 |
| Long-term Liabilities | $0 | $0 | $0 |
| TOTAL LIABILITIES | $9,482 | $10,792 | $12,102 |
| Paid-in Capital | $30,000 | $30,000 | $30,000 |
| Retained Earnings | $48,651 | $72,636 | $96,621 |
| Earnings | $100,709 | $119,555 | $138,401 |
| TOTAL CAPITAL | $189,360 | $222,190 | $255,020 |
| TOTAL LIABILITIES AND CAPITAL | $198,839 | $232,978 | $267,117 |
| Net Worth | $182,060 | $226,240 | $270,420 |
Business Ratios
| Ratio Analysis | ||||
| Sales Growth | 0.00% | 46.26% | 16.00% | 1.21% |
| Percent of Total Assets | ||||
| Inventory | 2.60% | 3.83% | 4.11% | 14.83% |
| Other Current Assets | 0.00% | 0.00% | 0.00% | 19.26% |
| Total Current Assets | 11.91% | 17.54% | 26.88% | 52.51% |
| Long-term Assets | 88.09% | 82.46% | 73.12% | 47.49% |
| Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
| Current Liabilities | 6.41% | 7.21% | 7.39% | 25.80% |
| Long-term Liabilities | 85.21% | 76.37% | 64.21% | 25.21% |
| Total Liabilities | 91.62% | 83.58% | 71.61% | 51.01% |
| Net Worth | 8.38% | 16.42% | 28.39% | 48.99% |
| Percent of Sales | ||||
| Sales | 100.00% | 100.00% | 100.00% | 100.00% |
| Gross Margin | 74.00% | 74.00% | 75.00% | 21.95% |
| Selling, General & Administrative Expenses | 77.60% | 60.27% | 58.61% | 13.02% |
| Advertising Expenses | 0.00% | 0.00% | 0.00% | 1.44% |
| Profit Before Interest and Taxes | -15.26% | 12.31% | 15.46% | 2.11% |
| Main Ratios | ||||
| Current | 186.00% | 243.00% | 364.00% | 174.00% |
| Quick | 145.00% | 190.00% | 308.00% | 105.00% |
| Total Debt to Total Assets | 91.62% | 83.58% | 71.61% | 53.74% |
| Pre-tax Return on Net Worth | -221.61% | 69.29% | 63.48% | 8.09% |
| Pre-tax Return on Assets | -18.58% | 11.38% | 18.03% | 17.49% |
| Additional Ratios | Year 1 | Year 2 | Year 3 | |
| Net Profit Margin | -20.55% | 5.97% | 8.49% | n.a |
| Return on Equity | -221.61% | 48.51% | 44.44% | n.a |
| Activity Ratios | ||||
| Inventory Turnover | 1023.00% | 1074.00% | 954.00% | n.a |
| Accounts Payable Turnover | 1212.00% | 1217.00% | 1217.00% | n.a |
| Payment Days | 2700.00% | 2800.00% | 2900.00% | n.a |
| Total Asset Turnover | 90.00% | 133.00% | 149.00% | n.a |
| Debt Ratios | ||||
| Debt to Net Worth | 1093.00% | 509.00% | 252.00% | n.a |
| Current Liab. to Liab. | 7.00% | 9.00% | 10.00% | n.a |
| Liquidity Ratios | ||||
| Net Working Capital | 406800.00% | 757600.00% | 1487200.00% | n.a |
| Interest Coverage | -289.00% | 326.00% | 464.00% | n.a |
| Additional Ratios | ||||
| Assets to Sales | 111.00% | 75.00% | 67.00% | n.a |
| Current Debt/Total Assets | 6.00% | 7.00% | 7.00% | n.a |
| Acid Test | 145.00% | 190.00% | 308.00% | n.a |
| Sales/Net Worth | 1078.00% | 812.00% | 523.00% | n.a |
| Dividend Payout | 0.00% | 0.00% | 0.00% | n.a |
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