Concierge Service Business Plan
You’ve come to the right place to create your Concierge Service business plan.
We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Concierge Service businesses.
Below is a template to help you create each section of your Concierge Service business plan.
Executive Summary
Business Overview
Quality Concierge Services is a startup concierge service company located in San Francisco, California. The company is founded by Max Trenton, a former concierge with a large, established concierge service company. Max has worked within the concierge industry for over 15 years and has a wide range of skills and depth of knowledge within this industry. He has acted as a concierge for over 300 clients, with a 99% rating from clients overall. Quality Concierge Services will provide concierge services for any busy professional, affluent individual or time-constrained customer. We provide personalized, reliable and exceptional concierge services that cater to the unique needs and preferences of each of our clients. Our mission is to ensure the utmost satisfaction and convenience on behalf of our clients. Needs and preferences may include travel arrangements, reservations to events or theaters, tailor-made personal solutions to organizational tasks, arrangements for care for children or animals within a household, and numerous other detail-oriented tasks that many busy clients do not have time to arrange.
Quality Concierge Services will also provide event planning and execution, from casual pool gatherings to cocktail parties in corporate settings. The concierge service will be one that is on-call 24/7, providing full coverage of any event, including unforeseen circumstances during travel, that other concierge services do not supply. Quality Concierge Services goes the “extra mile” when arranging travel, even providing chauffeurs for driving when needed.
Product Offering
The following are the services that Quality Concierge Services will provide:
- Personalized services to meet the preferences of each client
- Travel arrangements and changes with 24/7 on-call service
- Reservations service, including theater and hard-to-acquire ticketed events
- Personally-tailored solutions for organizational tasks, such as office re-arrangements, wardrobe extensions, and property assessments
- Chauffeur and childcare provisions when circumstances warrant
Customer Focus
Quality Concierge Services will target high net-worth individuals, busy professional executives, and those individuals who need specialized care and detailing found within concierge services. Quality Concierge Services will also target high-level executives and their support staff, as well as travel agents who can offer referrals to Quality Concierge Services.
Management Team
Quality Concierge Services will be owned and operated by Max Trenton. He has recruited others from his former place of employment to assist in his startup company. These individuals include Troy Statton, who was the Senior Concierge as the former employer and Kerry Lombaugh, a former associate who will become the Administrative Manager.
Max Trenton holds a Master of Arts degree in Organizational Leadership and has been employed both as a concierge and a Business Development Director in a concierge service firm. He has been employed for over 15 years within the concierge industry. Many of his former clients have indicated they would like to follow him to Quality Concierge Services when it opens for business.
Troy Statton will be the Concierge Director in Quality Concierge Services, overseeing all aspects of the services that concierge personnel provide. He will also manage the Human Resources responsibilities. Troy holds a Bachelor of Arts degree in Hospitality from the University of Wisconsin and is held in high regard by his former clients. Many of his clients have already promised to follow him wherever he is employed.
Kerry Lombaugh holds an Associates of Arts degree in Administration and has 15 years of experience in the management of mid-sized offices. She will be the Office Manager and is familiar with all customer service procedures, bookkeeping, and is known for her personable demeanor and the ability to negotiate with clients to find a positive result for all.
Success Factors
Quality Concierge Services will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly-qualified team of Quality Concierge Services
- Unique offerings, such as on-call 24/7 itinerary service for travel arrangements and unexpected or last-minute changes, personally-tailored solutions for organizational tasks, such as office re-arrangements, wardrobe extensions, and property assessments
- Chauffeur and childcare provisions when circumstances warrant
- Quality Concierge Services offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.
Download the Concierge Service business plan template (including a customizable financial model) to your computer here <–
Financial Highlights
Quality Concierge Services is seeking $200,000 in debt financing to launch Quality Concierge Services. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph outlines the financial projections for Quality Concierge Services.
Company Overview
Who is Quality Concierge Services?
Quality Concierge Services is a newly established, full-service concierge service company in San Francisco, California. Quality Concierge Services will be the most reliable, personalized and convenient choice for high net-worth individuals, busy professionals or those who need specialized services in daily life. Quality Concierge Services will concentrate on the personal preferences of each client and strive to always meet those needs. Quality Concierge Services will provide a guarantee of 100% satisfaction to meet the standards of our clientele each and every time we serve.
Quality Concierge Services will be able to offer several unique services that go above and beyond those of other services found in San Francisco. The team of professionals will assist with travel itineraries in unforeseen circumstances (including 24/7 phone calls). They will also provide chauffeur services and childcare services when unforeseen circumstances require “all hands on deck”. Concierge Services removes all headaches and issues for our clients of the Quality Concierge Services and ensures every issue is taken care of expeditiously while delivering the best customer service.
Quality Concierge Services History
Since incorporation, Quality Concierge Services has achieved the following milestones:
- Registered Quality Concierge Services, LLC to transact business in the state of California
- Has a contract in place for a 10,000 square foot office at one of the midtown buildings
- Reached out to former clients of the management staff at Quality Concierge Services
- Began recruiting a staff of six and office personnel to work at Quality Concierge Services
Quality Concierge Services
The following will be provided by Quality Concierge Services:
- Personalized services to meet the preferences of each client
- Travel arrangements and changes with 24/7 on-call service
- Reservations service, including theater and hard-to-acquire ticketed events
- Personally-tailored solutions for organizational tasks, such as office re-arrangements, wardrobe extensions, and property assessments
- Chauffeur and childcare provisions when circumstances warrant
- Day to day management of digital calendars for each client
Industry Analysis
The concierge services industry is expected to grow over the next five years to over $496 million.
The growth will be driven by the rising affluence and disposable income of top performers within industry and commerce. The growth will also be driven by the income that allows high-net worth individuals and others capture their own visions and preferences for goods and services. The increasing time constraints placed on busy professionals will also drive growth in the concierge services sector, as will the increase in global travels and tourism.
Costs within the concierge services industry will likely be reduced as the digital world creates greater efficiencies of time through the use of digital tools to schedule, plan, and maintain event calendars. The costs will also be reduced as more concierge duties are absorbed by AI attendants and personal robotic tools.
Download the Concierge Service business plan template (including a customizable financial model) to your computer here <–
Customer Analysis
Demographic Profile of Target Market
Quality Concierge Services will target high net-worth individuals, busy professional executives, and those individuals who need specialized care and detailing found within concierge services. Quality Concierge Services will also target high-level executives and their support staff, as well as travel agents who can offer referrals to Quality Concierge Services.
The precise demographics for Quality Concierge Services are:
| Total | Percent | |
|---|---|---|
| Total population | 1,680,988 | 100% |
| Male | 838,675 | 49.9% |
| Female | 842,313 | 50.1% |
| 20 to 24 years | 114,872 | 6.8% |
| 25 to 34 years | 273,588 | 16.3% |
| 35 to 44 years | 235,946 | 14.0% |
| 45 to 54 years | 210,256 | 12.5% |
| 55 to 59 years | 105,057 | 6.2% |
| 60 to 64 years | 87,484 | 5.2% |
| 65 to 74 years | 116,878 | 7.0% |
| 75 to 84 years | 52,524 | 3.1% |
Customer Segmentation
Quality Concierge Services will primarily target the following customer profiles:
- High net-worth individuals
- Busy professionals
- Those who seek personalized care
- Travel agents who can refer potential clients
- Professional association memberships
- San Francisco-based private clubs
Competitive Analysis
Direct and Indirect Competitors
Quality Concierge Services will face competition from other companies with similar business profiles. A description of each competitor company follows.
Platinum Concierge Company
The Platinum Concierge Company is a San Francisco-based company that specializes in serving celebrities, entertainment artists and social media influencers. The concierge services company is on-call 24 hours per day and offers personalized assistance and support to clients, ranging from making reservations, booking travel arrangements, event planning, obtaining tickets for shows or concerts, arranging transportation, and more.
The Platinum Concierge Services company holds a very high level of exclusivity and the focus is on only those clients who can afford to pay the highest rates for concierge service. Premium, luxury and over-the-top concierge services are the mainstay of this company. The owners, Randall and Candace Myerson, have been in the concierge business for over thirty years and hold many clients in exclusive relationships. While the services include typical personalized activities, the concierge services do not include coverage for mitigating issues, such as childcare or urgent needs to change travel plans.
eX Concierge Group
eX Concierge Group is a premium concierge service tailored specifically for busy C-suite executives. Their mission is to alleviate the burdens of clients’ hectic schedules, enhance productivity, and enrich their personal and professional lives. The target audience is executives at the highest level who face unique challenges and time constraints. The service is designed to cater to their specific needs, preferences, and confidentiality requirements.
The services at eX Concierge Group include those that take the strain away from executives: travel management, personal assistance, event planning, tickets with exclusive access, VIP experiences, and day-to-day operations. Gift-sourcing and deliveries are sometimes included. The personal qualities of the eX Concierge Group are those that fully support high-level executives. They focus on discretion, efficiency, and the ability to anticipate their clients’ needs before they arise.
Black Rifle Personal Concierge Company
The Black Rifle Personal Concierge Company is a security-focused concierge service for those individuals who require such care. The owner of the company is Taylor Lawrence, a former US Navy Seal Commander, who employs former special forces concierge personnel to assist in the aspects of personal security and safety required by certain individuals. The safety of clients is the first priority; however, concierge services also include chauffeur services, planning and executing meetings and events, travel arrangements and security oversight while traveling and other facets of the concierge services.
While the Black Rifle Personal Concierge Company holds personal security as the highest priority, other aspects of concierge services are also offered: discrete and private investigations of potential business partners or high-level employees may be completed, home management and security conditions may be overseen and the security and safety of all company personnel may also be included in concierge services. Black Rifle Personal Concierge Company also builds personal digital toolkits that enable executives to access services, add requests for service, define any concerns and communicate with absolute privacy. Such services are not typically found within a concierge service; however, they are entirely germane for those who require a high degree of security and caution.
Download the Concierge Service business plan template (including a customizable financial model) to your computer here <–
Competitive Advantage
Quality Concierge Services will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly-qualified team of Quality Concierge Services
- Unique offerings, such as on-call 24/7 itinerary service for travel arrangements and unexpected or last-minute changes, personally-tailored solutions for organizational tasks, such as office re-arrangements, wardrobe extensions, and property assessments
- Chauffeur and childcare provisions when circumstances warrant
- Quality Concierge Services offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.
Marketing Plan
Brand & Value Proposition
Quality Concierge Services will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled employees who are able to provide a comprehensive set of services that enable clients to concentrate on their business and personal lives rather than planning and scheduling activities and events.
- Chauffeur and childcare services are offered in the event of schedule conflicts or delays
- 24/7 on-call service available for transportation changes, itinerary cancellations and other unexpected circumstances
- Unbeatable pricing to its clients; they will offer the lowest pricing in the city.
Promotions Strategy
The promotions strategy for Quality Concierge Services is as follows:
Word of Mouth/Referrals
Quality Concierge Services has built up an extensive list of contacts over the years by providing exceptional service and expertise to their combined client base. The contacts and clients will follow the managers to their new company and contract with Quality Concierge Services.
Professional Associations and Networking
Max Lawrence will affiliate his company with several associations and industry networking groups to bring Quality Concierge Services to the forefront of potential clients.
Launch Events
Two weeks prior to the opening of the company, Quality Concierge Services will send personal invitations to all former clients, inviting them to a champagne brunch for the launch.
Website/SEO Marketing
Quality Concierge Services will fully utilize their website. The website will be well organized, informative, and list all the services that Quality Concierge Services provides. The website will also list their contact information and list their various services. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “concierge company” or “concierge near me,” Quality Concierge Services will be listed at the top of the search results.
Pricing
The pricing of Quality Concierge Services will be higher than some competitors; however, it will meet the expectations of their clients. Clients will feel they receive excellent value when purchasing their services.
Operations Plan
The following will be the operations plan for Quality Concierge Services.
Operation Functions:
- Max Townsend will be the owner and President of the company. He will oversee all staff and manage client relations. Max has spent the past year recruiting the following staff:
- Troy Statton will be the Concierge Director, overseeing all aspects of the services that concierge personnel provide.
- Kerry Lombaugh will be the Office Manager and oversee all customer service procedures, while providing administrative tasks and bookkeeping.
Download the Concierge Service business plan template (including a customizable financial model) to your computer here <–
Milestones:
Quality Concierge Services will have the following milestones completed in the next six months.
- 5/1/202X – Finalize contract to lease office space
- 5/15/202X – Finalize personnel and staff employment contracts for the Quality Concierge Services
- 6/1/202X – Finalize contracts for Quality Concierge Services clients
- 6/15/202X – Begin networking at industry events
- 6/22/202X – Begin moving into Quality Concierge Services office
- 7/1/202X – Quality Concierge Services opens its doors for business
Management Team
Quality Concierge Services will be owned and operated by Max Trenton. He has recruited others from his former place of employment to assist in his startup company. These individuals include Troy Statton, who was the Senior Concierge as the former employer and Kerry Lombaugh, a former associate who will become the Administrative Manager.
Max Trenton holds a Master of Arts degree in Organizational Leadership and has been employed both as a concierge and a Business Development Director in a concierge service firm. He has been employed for over 15 years within the concierge industry. Many of his former clients have indicated they would like to follow him to Quality Concierge Services when it opens for business.
Troy Statton will be the Concierge Director in Quality Concierge Services, overseeing all aspects of the services that concierge personnel provide. He will also manage the Human Resources responsibilities. Troy holds a Bachelor of Arts degree in Hospitality from the University of Wisconsin and is held in high regard by his former clients. Many of his clients have already promised to follow him wherever he is employed.
Kerry Lombaugh holds an Associates of Arts degree in Administration and has 15 years of experience in the management of mid-sized offices. She will be the Office Manager and is familiar with all customer service procedures, bookkeeping, and is known for her personable demeanor and the ability to negotiate with clients to find a positive result for all.
Financial Plan
Key Revenue & Costs
The revenue drivers for Quality Concierge Services are the fees they will charge to clients for their personal services.
The cost drivers will be the overhead costs required in order to staff Quality Concierge Services. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
Quality Concierge Services is seeking $200,000 in debt financing to launch its concierge services company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the launch brunch and association memberships. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
Download the Concierge Service business plan template (including a customizable financial model) to your computer here <–
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Clients Per Month: 255
- Average Revenue per Month: $765,000
- Office Lease per Year: $100,000
Financial Projections
Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
| Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
| Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
| Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
| Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
| EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
| Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
| PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
| NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
| Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
| Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
| Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
| Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
| TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
| Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
| Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
| Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investment | ($180,950) | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
| Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
| Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Concierge Service Business Plan FAQs
What Is a Concierge Service Business Plan?
A concierge service business plan is a plan to start and/or grow your concierge service business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
What are the Main Types of Concierge Service Businesses?
There are a number of different kinds of concierge service businesses, some examples include: Shopping, Entertainment, dining, and travel arrangements, Courier, and Personal assistant.
How Do You Get Funding for Your Concierge Service Business Plan?
Concierge Service businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Concierge Service Business?
Starting a concierge service business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Concierge Service Business Plan - The first step in starting a business is to create a detailed concierge service business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your concierge service business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your concierge service business is in compliance with local laws.
3. Register Your Concierge Service Business - Once you have chosen a legal structure, the next step is to register your concierge service business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your concierge service business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Concierge Service Equipment & Supplies - In order to start your concierge service business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your concierge service business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.