Carlos Lamas CPA | Application Preview
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General Information
Business Registration Number: 00-000000
Location: tinley park, IL, United States
Length of Operation: 1
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
The funding I am seeking is to pay for the following: - My bi-weekly salary - Computer Equipment - Tax and Accounting software charges - Professional service organization memberships - Hiring part time contractors to assist with the work load.
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Business Plan
Year 1. I will generate $75,000 -$100,000 of first year revenues solely on the businesses that are currently requesting my services but I am too busy with my day job to assist them. Years 2-3. My existing clients will refer additional clients based on the quality of the work I provide. I have seen this at my current place of employment. I also plan to market my CPA services through Linkedin, Facebook and Instagram. I will work with local professional organizations like the chamber of commerce to generate additional leads. During Years 2-3 I plan to have 1-2 employees and a book of business of $200,000-$300,000. Another source of new business will be through acquisition of retiring CPAs book of business. Years 4-5. At this point I plan to have 4-6 employees and office space with revenues in the $400,00 -$500,000 range. My business should receive funding for the following reasons: 1) The CPA service industry is in need of younger tech savvy professionals in the Chicago land area as well as other parts of the country. There are a lot of CPAs retiring and there is a need for my services in the small and middle market. 2) Once my business is established and I am operating at full capacity, I also plan to focus on serving small businesses in underserved communities in the Chicagoland area. There are certain businesses with good products/services that don't have a good CPA or business consultant to help them navigate complex tax law, generate meaningful financials to get loans or investment financing. I was born and raised in the inner city and I relate well to the population in underserved communities. 3) I bring a unique skill set in tax, accounting and professional services due to my experience serving large multinational companies as well as small businesses. I can bring very high quality levels of service to small and mid-size businesses at a fair price. I am also fluent in Spanish which is a big benefit in Chicago and other parts of the country. The Hispanic community is very entrepreneurial and they are in need of quality professional CPA services to help navigate the complex tax and business world. I can help businesses not only with tax and accounting, but I can help scale a businesses by providing CFO type services.
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Self Identified Competition
My competitors will be other CPA firms and there are many. With that said, many are operating with outdated technology and processes and are essentially tapped out or unable to bring on more clients without significant human capital. I have worked with very large firms and i can bring big firm process and technology to the small and mid-size business world. My CPA and professional services business will be different in a few ways: 1) I will utilize modern technology and processes to serve clients. This is lacking in many small accounting firms. 2) I bring a unique perspective having spent 14 years working for large and mid-size firms. I will bring the same level of service provided to large businesses and bring that to small and mid-size businesses. 3) I relate well to both the sophisticated business community as well as the underserved inner city businesses community due to my upbringing. I am bi-lingual in English and Spanish which will give me an edge when serving the Hispanic market.
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Contact Applicant
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