Bionex Corporation

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I.D. Verification Technology Business Plan

Management Summary

Bionex, Inc. has assembled a world-class management team to implement its product and business strategies. The Bionex engineering team has demonstrated experience in conducting state-of-the-art research to determine technology trends and then develop products to meet that demand, significantly ahead of the competition. The marketing manager has substantial experience in successfully introducing new technology in a robust market. The sales manager is disciplined, proven and well trained through years of experience in a corporate sale structure.

6.1 Personnel Plan

The Personnel Plan below shows the salaries for the five principle managers over the next five years. The "Total People" row chronicles the projected growth of the organization to 15 employees in the first three years; these non-managerial employees will be independently contracted, so expenses related to their payroll amounts are listed in the Profit and Loss Table. The third year could require a few additional people, especially if sales reach or exceed $2.5 million. Payroll costs will be high from the beginning, due to the need for highly trained, highly skilled labor. In order to continue growth into the future and provide accurate, secure devices we will need to recruit highly skilled labor in the fields of programming, engineering and designing; these are positions essential to company growth and are jobs that should be well compensated.

Personnel Plan
Year 1 Year 2 Year 3 Year 4 Year 5
CEO $82,000 $88,000 $90,000 $100,000 $105,000
CFO $82,000 $88,000 $90,000 $100,000 $105,000
President of Engineering $72,000 $74,000 $75,000 $80,000 $85,000
President of Sales $72,000 $74,000 $75,000 $80,000 $85,000
President of Marketing $72,000 $74,000 $75,000 $80,000 $85,000
Total People 5 10 15 25 45
Total Payroll $380,000 $398,000 $405,000 $440,000 $465,000
Bionex Corporation i.d. verification technology business plan management summary. Bionex Corporation is a biometric security company providing solutions to remedy identity theft and credit fraud.