Business development plan for a start-up tax firm

[ABSTRACT ONLY; NO FULL TEXT] In developing a business plan for a start-up tax firm, our team initially assessed the client's needs via two interviews. With the help of our faculty advisor possessing tax expertise, we refined the project scope. Thus, we acquired a basic knowledge of the Accounting Services industry and a comprehensive understanding of the US Tax Preparation industry, with an emphasis on sales and use tax. Further, we described which market niche(s) the company could target and determined start-up costs as well as five-year profit projections for two office arrangements. While answering these research questions, reflective of the project's objectives, team members combined secondary research into these sections: industry and client SWOT analyses, Porter's Five Forces as well as financial assumptions. Moreover, primary research gathered through discussions with a tax professional and survey completed by the firm's potential customers strengthened the aforementioned sections and concluding recommendations. While assisting my team in fulfilling project goals, I contributed in various ways. First, I continuously edited the report by ensuring consistent and thorough content, logical structure, grammatical correctness and strict adherence to grading guidelines. Second, I wrote critical sections - namely, the opportunities part of the client's SWOT analysis. This task involved examining burgeoning Southern California markets. Such industries were also linked to sales and use tax complexity or noncompliance. Linkages were not always easily discernable, necessitating in-depth reading of California Department of Tax and Fee Administration reports. With this knowledge, I suggested industries to find survey participants and provided ideas for its questions. In addition, I wrote portions of the Porter's Five Forces, the power of buyers and of suppliers, as well as introduction and conclusion drafts. Third, I served as an intermediary with the faculty advisor, especially in the beginning stage, when submitting report portions for review and arranging meeting times. Throughout this indelible project, I also helped ensure continuous communication among team members while quickly bringing up important items. The final presentation and report consequently reflected smooth coordination. Overall, the project allowed team members to leverage strengths and apply concepts from MBA courses. The resulting findings and recommendations are proprietary to the client and shall remain confidential.