AccounTrust will assist small business owners with their accounting and bookkeeping needs by utilizing QuickBooks software. Companies struggle with keeping up to date financial statements. AccounTrust will assist these companies by doing all the work through QuickBooks. QuickBooks software allows business owners to always know their current financial situation. QuickBooks also helps with invoicing, paying employees, and more. AccounTrust will offer two services (1) managing the businesses QuickBooks and (2) QuickBooks consulting. These services will allow business owners to focus on other aspects of their businesses. AccounTrust will operate in a very stable industry; companies always need accountants and bookkeepers.
There are low barriers to entry for the accounting and bookkeeping industry. So, to build barriers to entry, AccounTrust will need to differentiate itself. …show more content…
In college, Mitch got his undergraduate degree in Finance and a Master’s Degree in Entrepreneurship. His hard work has led him to be successful to this point and will drive AccounTrust to be successful.
AccounTrust is focusing on having a lean budget and will not require much financial assistance. The company has very low fixed and variable costs, which makes the venture attractive. Volume and capacity are the main concerns for AccounTrust’s economic model. Since there is only on worker, it will be difficult to have a high capacity unless the company scales. However, the company can overcome this problem because the breakeven for AccounTrust is about 150 billable hours, which will easily be achieved if there is demand.
AccounTrust is currently searching for a $6,000 loan with 8% interest to cover the fixed costs for the first year. Receiving this loan will assist with the launch of the business, building the website, and creating marketing
There are low barriers to entry for the accounting and bookkeeping industry. So, to build barriers to entry, AccounTrust will need to differentiate itself. …show more content…
In college, Mitch got his undergraduate degree in Finance and a Master’s Degree in Entrepreneurship. His hard work has led him to be successful to this point and will drive AccounTrust to be successful.
AccounTrust is focusing on having a lean budget and will not require much financial assistance. The company has very low fixed and variable costs, which makes the venture attractive. Volume and capacity are the main concerns for AccounTrust’s economic model. Since there is only on worker, it will be difficult to have a high capacity unless the company scales. However, the company can overcome this problem because the breakeven for AccounTrust is about 150 billable hours, which will easily be achieved if there is demand.
AccounTrust is currently searching for a $6,000 loan with 8% interest to cover the fixed costs for the first year. Receiving this loan will assist with the launch of the business, building the website, and creating marketing