Notary Public Business Plan
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Executive Summary
Business Overview
One-Day Notary Public Service is a startup notary public business located in Pierre, South Dakota. The company is founded by Kathy Porporia, a notary public who has been employed in the business sector for over ten years. She generated a thirty percent increase in her employer’s business by using her skills and social engagement talents to acquire and keep clients. Many businesses in Pierre have come to rely solely on Kathy for all notary public needs.
One-Day Notary Public Service will provide a wide selection of services from which customers may choose, including notarizing legal documents, affidavits, contracts, and more. As a result of the growth rate of clients who request her services, Kathy determined that it is the right and best time to launch her own business and capture the eager audience she already has slated as potential customers. Many of these same businesses and individuals have already committed to following Kathy to her new startup company.
Product Offering
The following are the services that One-Day Notary Public Service will provide:
- One-day service guarantee
- Mobile service within city and surrounding areas of Pierre
- Notarizing legal documents
- Affidavits
- Legal contracts
- Identity verification
- Administration of oaths and affirmations
- Certifying copies of documents
Customer Focus
One-Day Notary Public Service will target all residents and businesses in Pierre and the surrounding areas of the city. They will target attorneys and law firms. They will target businesses who require legally-binding contracts. They will target individuals who are purchasing a home or traveling internationally. They will target residents who are required to verify their identity or affirm legal proceedings or documentation.
Management Team
One-Day Notary Public Service will be owned and operated by Kathy Porporia, a notary public who has been employed in the business sector for over ten years. She generated a thirty percent increase in her employer’s business by using her skills and social engagement talents to acquire and keep clients. Many businesses in Pierre have come to rely solely on Kathy for all notary public needs. Kathy has recruited Nahul Jahim and Cristy Baker to join her business.
Kathy Porporia holds a bachelor’s degree from the University of South Dakota in business management. She has fifteen years of experience as a notary public and has an extensive background in management and scheduling within a notary public as a result of her last ten years of employment. Kathy was often placed in temporary management positions when her employers traveled extensively; as a result, her management skills were developed and well-positioned to lead her own company.
Nahul Jahim is a graduate of Pierre College, where he obtained a bachelor’s degree in marketing. He has been a notary public for five years and formerly worked with Kathy at the same business. His role will be as a Senior Notary Public, assisting in both serving as a notary public and managing the business on behalf of Kathy and her staff.
Cristy Baker is certified as an administrative assistant and formerly worked with Kathy. She is adept at booking clients, understanding the legal or documentation needs of each client and running a smooth operation. Her role will be as the Senior Administrative Associate.
Success Factors
One-Day Notary Public Service will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly-qualified team of One-Day Notary Public Service
- Notarize legal documents, including contracts, affidavits, wills, and power of attorney documents.
- Verifying identity through identification checks and document verification.
- Administering oaths and affirmations for affidavits and statutory declarations.
- Providing certified copies of documents.
- Mobile notary services, offering on-site notarization for clients unable to visit our office.
- One-Day Notary Public Service offers the best pricing in town. Their pricing structure is the most cost effective when compared to the competition.
Download the Notary Public business plan template (including a customizable financial model) to your computer here <–
Financial Highlights
One-Day Notary Public Service is seeking $200,000 in debt financing to launch its One-Day Notary Public Service. 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 One-Day Notary Public Service.
Company Overview
Who is One-Day Notary Public Service?
One-Day Notary Public Service is a newly established, full-service notary public service in Pierre, South Dakota. One-Day Notary Public Service will be the most reliable, cost-effective, and efficient choice for residents and businesses in Pierre and the surrounding communities. One-Day Notary Public Service will provide a comprehensive menu of notary services for any resident or business to utilize. Their full-service approach includes a comprehensive set of services relating to legal documentation, oaths, verifications and certifications.
One-Day Notary Public Service will be able to serve customers with one-day service and mobile service. The team of professionals are highly qualified and experienced in all notary services and the legal documents needed for completion. One-Day Notary Public Service removes all headaches and issues of finding and getting to a notary public and ensures all issues are taken care of expeditiously while delivering the best customer service.
One-Day Notary Public Service History
One-Day Notary Service is owned and operated by Kathy Porporia, a notary public who has been employed in the business sector for over ten years. She generated a thirty percent increase in her employer’s business by using her skills and social engagement talents to acquire and keep clients. Kathy Porporia holds a bachelor’s degree from the University of South Dakota in business management. She has fifteen years of experience as a notary public and has an extensive background in management and scheduling within a notary public as a result of her last ten years of employment. Kathy was often placed in temporary management positions when her employers traveled extensively; as a result, her management skills were developed and well-positioned to lead her own company.
Since incorporation, One-Day Notary Public Service has achieved the following milestones:
- Registered One-Day Notary Public Service, LLC to transact business in the state of South Dakota.
- Has a contract in place to lease a 10,000 square foot office in a midtown office building in Pierre.
- Reached out to numerous contacts to include One-Day Notary Service as their primary notary public service.
- Began recruiting a staff of three and two office personnel to work at One-Day Notary Service.
One-Day Notary Public Services
The following will be the services One-Day Notary Public Service will provide:
- One-day service guarantee
- Mobile service within city and surrounding areas of Pierre
- Notarizing legal documents
- Affidavits
- Legal contracts
- Identity verification
- Administration of oaths and affirmations
- Certifying copies of documents
Industry Analysis
The notary public industry is expected to grow over the next five years to over $700 million.
The growth will be driven by an increasing number of legal and regulatory requirements
The growth will be driven by an increasing number of real estate transactions
The growth will be driven by an increasing complexity of international transactions
Costs will likely be reduced as paper and printing costs are eliminated
Costs will likely be reduced as communication expenses drop
Costs will likely be reduced as travel expenses drop
Download the Notary Public business plan template (including a customizable financial model) to your computer here <–
Customer Analysis
Demographic Profile of Target Market
One-Day Notary Public Service will target all residents and businesses in Pierre and the surrounding areas of the city. They will target attorneys and law firms. They will target businesses who require legally-binding contracts. They will target individuals who are purchasing a home or traveling internationally. They will target residents who are required to verify their identity or affirm legal proceedings or documentation.
The precise demographics for One-Day Notary Public Service 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
One-Day Notary Public Service will primarily target the following customer profiles:
- Businesses and residents within the city of Pierre and its surrounding communities
- Law firms, attorneys, real estate agents, mortgage companies
- Travelers or others who need identity verification
- Residents settling wills or trust funds
Competitive Analysis
Direct and Indirect Competitors
One-Day Notary Public Service will face competition from other companies with similar business profiles. A description of each competitor company is below.
SwiftNotary Company
SwiftNotary Company is established in a conveniently located office, where the sole proprietor, Jake Roberts, offers a range of notary services, including notarizing legal documents, affidavits, contracts, and more. With his commitment to accuracy, efficiency, and exceptional customer service, he aims to become the go-to notary public service provider in the Pierre area.
SwiftNotary Company was started in 2019 to provide a quick response for individuals who needed notary public service during the global pandemic. Jake used his vehicle to travel from homes to businesses and back again during several months before eventually opening an office in downtown Pierre. The one-man operation caters to a wide range of clients, including individuals requiring notarization for personal documents, real estate professionals, law firms, financial institutions, and businesses in need of notarized contracts and agreements.
Premier Notary Public
Premier Notary Public is owned and operated by Nick and Claus Swanson, brothers who went through notary public training at the same time with the intention to open a business that would provide their income for several years. They divided the business into two segments, one serving individuals and the other serving business clients. They do not have other employees and they provide primarily mobile service, with a home office serving as the place for administrative tasks. Nick and Claus Swanson network extensively throughout Pierre by joining community groups and philanthropic committees and both are dedicated to helping the residents of Pierre by acts of service on behalf of its residents
Attorney’s Public Notary
The Attorney’s Public Notary Company is known as the “Attorney’s Choice” for notary services. It is owned and operated by Tina Essex who started the specialized notary public dedicated to serving attorneys exclusively in 2020. The claim of the business is that it serves “the unique needs of legal professionals and the critical role notarization plays in their practice”. The claim of the company is that it provides efficient and dependable notary services tailored specifically to attorneys, ensuring their documents are properly authenticated and legally binding.
Attorney’s Notary Public offers an in-depth understanding of the state’s legal requirements and regulations, with notaries who understand the specific nuances of notarizing legal documents in South Dakota. We offer a comprehensive range of notary services exclusively to attorneys, including notarizing legal documents such as contracts, agreements, affidavits, and other vital legal instruments. The company will attest to the authenticity of signatures, and verify identities. They claim to prioritize accuracy and attention to detail to ensure the utmost validity and legality of each notarized document.
Download the Notary Public business plan template (including a customizable financial model) to your computer here <–
Competitive Advantage
One-Day Notary Public Service will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly-qualified team of One-Day Notary Public Service
- Notarize legal documents, including contracts, affidavits, wills, and power of attorney documents.
- Verifying identity through identification checks and document verification.
- Administering oaths and affirmations for affidavits and statutory declarations.
- Providing certified copies of documents.
- Mobile notary services, offering on-site notarization for clients unable to visit our office.
- One-Day Notary Public Service offers the best pricing in town. Their pricing structure is the most cost effective when compared to the competition.
Marketing Plan
Brand & Value Proposition
One-Day Notary Public Service will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled employees who are able to provide a comprehensive set of notarized legal documents, including contracts, affidavits, wills, and power of attorney documents.
- Verify identity through identification checks and document verification.
- Administer oaths and affirmations for affidavits and statutory declarations.
- Provide certified copies of documents.
- Offer unbeatable pricing to its clients; they will offer the best pricing in town.
Promotions Strategy
The promotions strategy for One-Day Notary Public Service is as follows:
Word of Mouth/Referrals
One-Day Notary Public Service has built up an extensive list of contacts over the years by providing exceptional service and expertise to all clients. Former clients will follow her to her new company and help spread the word of One-Day Notary Public Service.
Professional Associations and Networking
Community and national associations will be joined and networking will continue in all forums. Attendance and active participation when needed will be offered.
Print Advertising
Two weeks prior to the launch, One-Day Notary Public will send a direct-mail piece to all residents and businesses in Pierre county. The piece will announce the launch of the company, describe the services, and offer a discount on products or services purchased.
Website/SEO Marketing
One-Day Notary Public Service will fully utilize their website. The website will be well organized, informative, and list all the services that One-Day Notary Public Service provide. The website will also list their contact information and list their available appointment times for One-Day overnight service. Customers can set their appointment times with confidence that One-Day Notary will show up on-time, every time. The website presence will utilize SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Notary company” or “notary service near me”, One-Day Notary Public Service will be listed at the top of the search results.
Pricing
The pricing of One-Day Notary Public Service will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.
Operations Plan
The following will be the operations plan for One-Day Notary Public Service.
Operation Functions:
- Kathy Porporia will be the Owner and President of the company. She will oversee all staff and manage client relations. Kathy has spent the past year recruiting the following staff:
- Nahul Jahim will become the Senior Notary Public and will manage the office administration when Kathy is not available.
- Cristy Baker will be the Senior Administrative Associate, overseeing the day-to-day management of filing, phone calls, emails, etc.
Download the Notary Public business plan template (including a customizable financial model) to your computer here <–
Milestones:
One-Day Notary Public Service 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 employment contracts for the One-Day Notary Public Service
- 6/1/202X – Prepare direct-mail piece for One-Day Notary Public Service clients
- 6/15/202X – Begin networking at industry events
- 6/22/202X – Begin moving into One-Day Notary Public Service office
- 7/1/202X – One-Day Notary Public Service opens its office for business
Management Team
One-Day Notary Public Service will be owned and operated by Kathy Porporia, a notary public who has been employed in the business sector for over ten years. She generated a thirty percent increase in her employer’s business by using her skills and social engagement talents to acquire and keep clients. Many businesses in Pierre have come to rely solely on Kathy for all notary public needs. Kathy has recruited Nahul Jahim and Cristy Baker to join her business.
Kathy Porporia holds a bachelor’s degree from the University of South Dakota in business management. She has fifteen years of experience as a notary public and has an extensive background in management and scheduling within a notary public as a result of her last ten years of employment. Kathy was often placed in temporary management positions when her employers traveled extensively; as a result, her management skills were developed and well-positioned to lead her own company.
Nahul Jahim is a graduate of Pierre College, where he obtained a bachelor’s degree in marketing. He has been a notary public for five years and formerly worked with Kathy at the same business. His role will be as a Senior Notary Public, assisting in both serving as a notary public and managing the business on behalf of Kathy and her staff.
Cristy Baker is certified as an Administrative Assistant and formerly worked with Kathy. She is adept at booking clients, understanding the legal or documentation needs of each client and running a smooth operation. Her role will be as the Senior Administrative Associate.
Financial Plan
Key Revenue & Costs
The revenue drivers for One-Day Notary Public Service are the fees they will charge to clients for the notary services they provide.
The cost drivers will be the overhead costs required in order to staff One-Day Notary Public Service. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
One-Day Notary Public Service is seeking $200,000 in debt financing to launch its notary public business. 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 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 Notary Public 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 Customers Per Month: 600
- Average Revenue per Month: $120,000
- 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 |
Notary Public Business Plan FAQs
What Is a Notary Public Business Plan?
A notary public business plan is a plan to start and/or grow your notary public business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your Notary Public business plan using our Notary Public Business Plan Template here.
What are the Main Types of Notary Public Businesses?
There are a number of different kinds of notary public businesses, some examples include: General Notary, Loan Signing Notary, and Non-Notary Services.
How Do You Get Funding for Your Notary Public Business Plan?
Notary Public 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 Notary Public Business?
Starting a notary public 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 Notary Public Business Plan - The first step in starting a business is to create a detailed notary public 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 notary public 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 notary public business is in compliance with local laws.
3. Register Your Notary Public Business - Once you have chosen a legal structure, the next step is to register your notary public 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 notary public 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 Notary Public Equipment & Supplies - In order to start your notary public 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 notary public 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.
Learn more about how to start a successful notary public business: