Business Cashflow Solutions, Inc. offers small- and medium-sized businesses services that reduce invoicing expenses, speed receipt of monies, allow for more payment options, and allow acceptance of paper checks.
3.1 Service Description
- Pre-authorized Checking: This service automatically drafts a customer's monthly payments. This service is useful to businesses that provide monthly services, such as pest control companies, health clubs, child care facilities, apartment complexes, etc. Business owners save on expenses associated with billing and avoid delays in receivables, and their customers save time because their paper drafts are automatically generated and delivered to the merchant.
- Electronic Payments: This service allows business owners to process electronic payments through the Automated Clearing House (ACH) system. This benefits the customer with timely funds settlement, built-in recovery of NSF items, no cost for NSF items, and reliable cash flow. It also saves money versus mailing invoices, and allows for check acceptance via telephone.
- Electronic Check Conversion: This service converts a traditional paper check into an electronic item at point-of-sale and processes through the ACH. This saves time and money while reducing the risks of NSF checks. Checks are electronically deposited to the business owner's account, and check verification is available at no additional cost.
- Electronic Check Recovery: This service enters NSF items into a database and re-submits them electronically via the ACH network. The business owner receives 100% face value of the check paid the week following collection and release of the funds. There is no cost to the business owner for this service.
- Telephone Checks: This service allows business owners to accept checks over the telephone. This allows credit card convenience to checking account customers, and saves the business owner versus accepting credit cards. Funds are deposited into the business owner's account within 24 hours.
- Professional Billing Services: This service can save the business owner money, time, and the aggravation of trying to "do-it- yourself." This service also gives an improved professional image and better control over slow payments. Promotional mailing pieces can be produced and enclosed with your bill.
- e-commerce: This service features ZZZZ, which allows online merchants to easily accept and process electronic check payments directly from their website. We can help plan, design, and implement a reliable, secure, and affordable e-commerce solution for the business owner.
3.2 Competitive Comparison
In the greater Richmond area there are approximately 6 licensees of ZZZZ. These range from inactive owners to established companies, with most being home-based. We believe that superior marketing and customer service will give us an edge on these competitors.
Nationwide, ZZZZ currently has approximately #### licensees. Of these, approximately 16 maintain a comprehensive website to market their services nationwide. Our website will be of the highest quality, and certainly competitive.
In addition, there are several large companies which offer similar services. TeleCheck® and Equifax® are two examples. Mostly, these companies offer check guarantee services, and are not as economical a solution for check acceptance to the small- and medium-sized businesses.
3.3 Sales Literature
Professional brochures are designed by and available from ZZZZ. As a licensee of ZZZZ, a complete set of copyrighted marketing materials and business forms are provided.
Examples of the sales literature are included with this business plan.
**Sales literature examples are not available with this sample plan.
The key fulfillment and delivery will be provided by the principals of the business. The real core value is the combination of hard work, attention to detail, and strong sense of service.
Business Cashflow Solutions, Inc. will maintain several key systems including:
- Secure computer for maintenance of all customer files and fulfillment of services.
- Secondary computer with complete email facilities on the Internet and all necessary website development and publishing software for maintenance of our website which will allow customer prospecting, customer support, and contact.
- High-speed laser printer for creation of pre-authorized checks and marketing and sales literature.
3.6 Future Services
As a licensee of ZZZZ, Business Cashflow Solutions, Inc., will be able to offer all expanded services offered by ZZZZ. In the 5 years that ZZZZ has been in business, they have increased their services from only Pre-Authorized Checking to the current seven services described in section 3.1.