concierge business plan pdf

Concierge Services Business Plan Template

Written by Dave Lavinsky

Concierge Services Business Plan

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their concierge services businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a concierge services business plan template step-by-step so you can create your plan today.

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What is a Concierge Services Business Plan?

A business plan provides a snapshot of your concierge services business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for Concierge Services

If you’re looking to start a concierge services business, or grow your existing concierge services business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your concierge services business in order to improve your chances of success. Your concierge services business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Concierge Services Businesses

With regards to funding, the main sources of funding for a concierge services business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan (hand it to them in person or email to them as a PDF file) and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the lender will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for concierge services businesses.

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How to write a business plan for concierge services.

If you want to start a concierge services business or expand your current one, you need a business plan. The guide and sample below details the necessary information for how to write each essential component of your Concierge Services business plan.

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of concierge services business you are operating and its status. For example, are you a startup, do you have a concierge services business that you would like to grow, or are you operating concierge services businesses in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the concierge services industry. Discuss the type of concierge services business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of concierge services business you are operating.

For example, you might operate one of the following types of concierge services businesses:

• Shopping : this type of business performs a variety of shopping tasks, from grocery shopping to sourcing a specific big-ticket item.
• Entertainment, dining, and travel arrangements: this type of business makes reservations and procures tickets for a variety of events, or to meet clients’ travel needs.
• Courier: this type of business delivers mail, makes bank deposits, delivers laundry / dry cleaning, or performs general errands.
• Personal assistant: this type of business assists with whatever the client requests, including the tasks listed above, as well as tasks such as electronic organization, social media management, research, etc.

In addition to explaining the type of concierge services business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to questions such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include the number of persons assisted, the prestige of clientele served, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the concierge services industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the concierge services industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your concierge services business plan:

• How big is the concierge services industry (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your concierge services business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your concierge services business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: large corporations, political organizations, busy individuals.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of concierge services business you operate. Clearly, political organizations would respond to different marketing promotions than socialites, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most concierge services businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.  

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other concierge services businesses.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes individuals who prefer to complete tasks on their own, or from dedicated personal assistants.

With regards to direct competition, you want to describe the other concierge services businesses with which you compete. Most likely, your direct competitors will be concierge services businesses located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• Do they specialize in specific services (i.e. travel arrangements or finding specific artwork, etc.)?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide a wider range of services?
• Will you offer greater convenience, such as online requests?
• Will you provide personalized customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a concierge services business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of concierge services company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to arranging dinner reservations, will your concierge services business provide dining recommendations and reminders of upcoming anniversaries or other important dates that typically include dining out?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your concierge services company. Document your location and mention how the location will impact your success. For example, will you operate from a physical office, or will you interact with clients online and/or at their home or place of business? In this section, discuss how your location will affect demand for your services.

Promotions : The final part of your concierge services marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Advertising in local papers and magazines
• Reaching out to local websites
• Signs and billboards
• Social media marketing
• Local radio advertising

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your concierge services business, including marketing, providing consultations, completing tasks, maintaining company vehicles, keeping up to date on restaurants and events, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to assist your 100th person, or when you hope to reach $X in revenue. It could also be when you expect to open a concierge services business in a new location.  

Management Team

To demonstrate your concierge services business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in managing concierge services businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in customer service, or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve clients on a contract basis, or on an as-needed basis? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your concierge services business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a concierge services business:

• Office build-out including fixtures, construction, etc.
• Cost of buying or leasing a company vehicle
• Cost of office supplies such as software
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office lease, or an overview of all the services you provide.  

Putting together a business plan for your concierge services business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the concierge services industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful concierge services business.  

Concierge Services Business Plan FAQs

What is the easiest way to complete my concierge service business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your concierge service business plan.

How Do You Start a Concierge Service Business?

Starting a concierge service business is easy with these 14 steps:

• Choose the Name for Your Concierge Service Business
• Create Your Concierge Service Business Plan
• Choose the Legal Structure for Your Concierge Service Business
• Secure Startup Funding for Your Concierge Service Business (If Needed)
• Secure a Location for Your Business
• Register Your Concierge Service Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your Concierge Service Business
• Buy or Lease the Right Concierge Service Business Equipment
• Develop Your Concierge Service Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your Concierge Service Business
• Open for Business

Where Can I Download a Free Business Plan Template PDF?

Click here to download the pdf version of our basic business plan template.

Our free business plan template pdf allows you to see the key sections to complete in your plan and the key questions that each must answer. The business plan pdf will definitely get you started in the right direction.

We do offer a premium version of our business plan template. Click here to learn more about it. The premium version includes numerous features allowing you to quickly and easily create a professional business plan. Its most touted feature is its financial projections template which allows you to simply enter your estimated sales and growth rates, and it automatically calculates your complete five-year financial projections including income statements, balance sheets, and cash flow statements. Here’s the link to our Ultimate Business Plan Template.

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OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to see how a Growthink business plan consultant can create your business plan for you.

Other Helpful Business Plan Articles & Templates

Concierge Service Business Plan Template

Written by Dave Lavinsky

Concierge Service Business Plan

You’ve come to the right place to create your Concierge Service business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Concierge Service businesses.

Below is a template to help you create each section of your Concierge Service business plan.

Executive Summary

Business overview.

Quality Concierge Services is a startup concierge service company located in San Francisco, California. The company is founded by Max Trenton, a former concierge with a large, established concierge service company. Max has worked within the concierge industry for over 15 years and has a wide range of skills and depth of knowledge within this industry. He has acted as a concierge for over 300 clients, with a 99% rating from clients overall. Quality Concierge Services will provide concierge services for any busy professional, affluent individual or time-constrained customer. We provide personalized, reliable and exceptional concierge services that cater to the unique needs and preferences of each of our clients. Our mission is to ensure the utmost satisfaction and convenience on behalf of our clients. Needs and preferences may include travel arrangements, reservations to events or theaters, tailor-made personal solutions to organizational tasks, arrangements for care for children or animals within a household, and numerous other detail-oriented tasks that many busy clients do not have time to arrange.

Quality Concierge Services will also provide event planning and execution, from casual pool gatherings to cocktail parties in corporate settings. The concierge service will be one that is on-call 24/7, providing full coverage of any event, including unforeseen circumstances during travel, that other concierge services do not supply. Quality Concierge Services goes the “extra mile” when arranging travel, even providing chauffeurs for driving when needed.

Product Offering

The following are the services that Quality Concierge Services will provide:

• Personalized services to meet the preferences of each client
• Travel arrangements and changes with 24/7 on-call service
• Reservations service, including theater and hard-to-acquire ticketed events
• Personally-tailored solutions for organizational tasks, such as office re-arrangements, wardrobe extensions, and property assessments
• Chauffeur and childcare provisions when circumstances warrant

Customer Focus

Quality Concierge Services will target high net-worth individuals, busy professional executives, and those individuals who need specialized care and detailing found within concierge services. Quality Concierge Services will also target high-level executives and their support staff, as well as travel agents who can offer referrals to Quality Concierge Services.

Management Team

Quality Concierge Services will be owned and operated by Max Trenton. He has recruited others from his former place of employment to assist in his startup company. These individuals include Troy Statton, who was the Senior Concierge as the former employer and Kerry Lombaugh, a former associate who will become the Administrative Manager.

Max Trenton holds a Master of Arts degree in Organizational Leadership and has been employed both as a concierge and a Business Development Director in a concierge service firm. He has been employed for over 15 years within the concierge industry. Many of his former clients have indicated they would like to follow him to Quality Concierge Services when it opens for business.

Troy Statton will be the Concierge Director in Quality Concierge Services, overseeing all aspects of the services that concierge personnel provide. He will also manage the Human Resources responsibilities. Troy holds a Bachelor of Arts degree in Hospitality from the University of Wisconsin and is held in high regard by his former clients. Many of his clients have already promised to follow him wherever he is employed.

Kerry Lombaugh holds an Associates of Arts degree in Administration and has 15 years of experience in the management of mid-sized offices. She will be the Office Manager and is familiar with all customer service procedures, bookkeeping, and is known for her personable demeanor and the ability to negotiate with clients to find a positive result for all.

Success Factors

Quality Concierge Services will be able to achieve success by offering the following competitive advantages:

• Friendly, knowledgeable, and highly-qualified team of Quality Concierge Services
• Unique offerings, such as on-call 24/7 itinerary service for travel arrangements and unexpected or last-minute changes, personally-tailored solutions for organizational tasks, such as office re-arrangements, wardrobe extensions, and property assessments
• Quality Concierge Services offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.

Financial Highlights

Quality Concierge Services is seeking $200,000 in debt financing to launch Quality Concierge Services. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:

• Office space build-out: $20,000
• Office equipment, supplies, and materials: $10,000
• Three months of overhead expenses (payroll, rent, utilities): $150,000
• Marketing costs: $10,000
• Working capital: $10,000

The following graph outlines the financial projections for Quality Concierge Services.

Company Overview

Who is quality concierge services.

Quality Concierge Services is a newly established, full-service concierge service company in San Francisco, California. Quality Concierge Services will be the most reliable, personalized and convenient choice for high net-worth individuals, busy professionals or those who need specialized services in daily life. Quality Concierge Services will concentrate on the personal preferences of each client and strive to always meet those needs. Quality Concierge Services will provide a guarantee of 100% satisfaction to meet the standards of our clientele each and every time we serve.

  Quality Concierge Services will be able to offer several unique services that go above and beyond those of other services found in San Francisco. The team of professionals will assist with travel itineraries in unforeseen circumstances (including 24/7 phone calls). They will also provide chauffeur services and childcare services when unforeseen circumstances require “all hands on deck”. Concierge Services removes all headaches and issues for our clients of the Quality Concierge Services and ensures every issue is taken care of expeditiously while delivering the best customer service.

Quality Concierge Services History

Since incorporation, Quality Concierge Services has achieved the following milestones:

• Registered Quality Concierge Services, LLC to transact business in the state of California
• Has a contract in place for a 10,000 square foot office at one of the midtown buildings
• Reached out to former clients of the management staff at Quality Concierge Services
• Began recruiting a staff of six and office personnel to work at Quality Concierge Services

Quality Concierge Services

The following will be provided by Quality Concierge Services:

• Day to day management of digital calendars for each client

Industry Analysis

The concierge services industry is expected to grow over the next five years to over $496 million. The growth will be driven by the rising affluence and disposable income of top performers within industry and commerce. The growth will also be driven by the income that allows high-net worth individuals and others capture their own visions and preferences for goods and services. The increasing time constraints placed on busy professionals will also drive growth in the concierge services sector, as will the increase in global travels and tourism. Costs within the concierge services industry will likely be reduced as the digital world creates greater efficiencies of time through the use of digital tools to schedule, plan, and maintain event calendars. The costs will also be reduced as more concierge duties are absorbed by AI attendants and personal robotic tools.

Customer Analysis

Demographic profile of target market, customer segmentation.

Quality Concierge Services will primarily target the following customer profiles:

• High net-worth individuals
• Busy professionals
• Those who seek personalized care
• Travel agents who can refer potential clients
• Professional association memberships
• San Francisco-based private clubs

Competitive Analysis

Direct and indirect competitors.

Quality Concierge Services will face competition from other companies with similar business profiles. A description of each competitor company follows.

Platinum Concierge Company

The Platinum Concierge Company is a San Francisco-based company that specializes in serving celebrities, entertainment artists and social media influencers. The concierge services company is on-call 24 hours per day and offers personalized assistance and support to clients, ranging from making reservations, booking travel arrangements, event planning, obtaining tickets for shows or concerts, arranging transportation, and more.

The Platinum Concierge Services company holds a very high level of exclusivity and the focus is on only those clients who can afford to pay the highest rates for concierge service. Premium, luxury and over-the-top concierge services are the mainstay of this company. The owners, Randall and Candace Myerson, have been in the concierge business for over thirty years and hold many clients in exclusive relationships. While the services include typical personalized activities, the concierge services do not include coverage for mitigating issues, such as childcare or urgent needs to change travel plans.

eX Concierge Group

eX Concierge Group is a premium concierge service tailored specifically for busy C-suite executives. Their mission is to alleviate the burdens of clients’ hectic schedules, enhance productivity, and enrich their personal and professional lives. The target audience is executives at the highest level who face unique challenges and time constraints. The service is designed to cater to their specific needs, preferences, and confidentiality requirements.

The services at eX Concierge Group include those that take the strain away from executives: travel management, personal assistance, event planning, tickets with exclusive access, VIP experiences, and day-to-day operations. Gift-sourcing and deliveries are sometimes included. The personal qualities of the eX Concierge Group are those that fully support high-level executives. They focus on discretion, efficiency, and the ability to anticipate their clients’ needs before they arise.

Black Rifle Personal Concierge Company

The Black Rifle Personal Concierge Company is a security-focused concierge service for those individuals who require such care. The owner of the company is Taylor Lawrence, a former US Navy Seal Commander, who employs former special forces concierge personnel to assist in the aspects of personal security and safety required by certain individuals. The safety of clients is the first priority; however, concierge services also include chauffeur services, planning and executing meetings and events, travel arrangements and security oversight while traveling and other facets of the concierge services.

While the Black Rifle Personal Concierge Company holds personal security as the highest priority, other aspects of concierge services are also offered: discrete and private investigations of potential business partners or high-level employees may be completed, home management and security conditions may be overseen and the security and safety of all company personnel may also be included in concierge services. Black Rifle Personal Concierge Company also builds personal digital toolkits that enable executives to access services, add requests for service, define any concerns and communicate with absolute privacy. Such services are not typically found within a concierge service; however, they are entirely germane for those who require a high degree of security and caution.

Competitive Advantage

Quality Concierge Services will be able to offer the following advantages over their competition:

Marketing Plan

Brand & value proposition.

Quality Concierge Services will offer the unique value proposition to its clientele:

• Highly-qualified team of skilled employees who are able to provide a comprehensive set of services that enable clients to concentrate on their business and personal lives rather than planning and scheduling activities and events.
• Chauffeur and childcare services are offered in the event of schedule conflicts or delays
• 24/7 on-call service available for transportation changes, itinerary cancellations and other unexpected circumstances
• Unbeatable pricing to its clients; they will offer the lowest pricing in the city.

Promotions Strategy

The promotions strategy for Quality Concierge Services is as follows:

Word of Mouth/Referrals

Quality Concierge Services has built up an extensive list of contacts over the years by providing exceptional service and expertise to their combined client base. The contacts and clients will follow the managers to their new company and contract with Quality Concierge Services.

Professional Associations and Networking

Max Lawrence will affiliate his company with several associations and industry networking groups to bring Quality Concierge Services to the forefront of potential clients.

Launch Events

Two weeks prior to the opening of the company, Quality Concierge Services will send personal invitations to all former clients, inviting them to a champagne brunch for the launch.

Website/SEO Marketing

Quality Concierge Services will fully utilize their website. The website will be well organized, informative, and list all the services that Quality Concierge Services provides. The website will also list their contact information and list their various services. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “concierge company” or “concierge near me,” Quality Concierge Services will be listed at the top of the search results.

The pricing of Quality Concierge Services will be higher than some competitors; however, it will meet the expectations of their clients. Clients will feel they receive excellent value when purchasing their services.

Operations Plan

The following will be the operations plan for Quality Concierge Services. Operation Functions:

• Max Townsend will be the owner and President of the company. He will oversee all staff and manage client relations. Max has spent the past year recruiting the following staff:
• Troy Statton will be the Concierge Director, overseeing all aspects of the services that concierge personnel provide.
• Kerry Lombaugh will be the Office Manager and oversee all customer service procedures, while providing administrative tasks and bookkeeping.

Milestones:

Quality Concierge Services will have the following milestones completed in the next six months.

• 5/1/202X – Finalize contract to lease office space
• 5/15/202X – Finalize personnel and staff employment contracts for the Quality Concierge Services
• 6/1/202X – Finalize contracts for Quality Concierge Services clients
• 6/15/202X – Begin networking at industry events
• 6/22/202X – Begin moving into Quality Concierge Services office
• 7/1/202X – Quality Concierge Services opens its doors for business

Financial Plan

Key revenue & costs.

The revenue drivers for Quality Concierge Services are the fees they will charge to clients for their personal services.

The cost drivers will be the overhead costs required in order to staff Quality Concierge Services. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

Funding Requirements and Use of Funds

Quality Concierge Services is seeking $200,000 in debt financing to launch its concierge services company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the launch brunch and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

• Number of Clients Per Month: 255
• Average Revenue per Month: $765,000
• Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, concierge service business plan faqs, what is a concierge service business plan.

A concierge service business plan is a plan to start and/or grow your concierge service business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Concierge Service business plan using our Concierge Service Business Plan Template here .

What are the Main Types of Concierge Service Businesses? 

There are a number of different kinds of concierge service businesses , some examples include: Shopping, Entertainment, dining, and travel arrangements, Courier, and Personal assistant.

How Do You Get Funding for Your Concierge Service Business Plan?

Concierge Service businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Concierge Service Business?

Starting a concierge service business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Concierge Service Business Plan - The first step in starting a business is to create a detailed concierge service business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your concierge service business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your concierge service business is in compliance with local laws.

3. Register Your Concierge Service Business - Once you have chosen a legal structure, the next step is to register your concierge service business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your concierge service business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Concierge Service Equipment & Supplies - In order to start your concierge service business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your concierge service business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

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Concierge Service Business Plan

Published Dec.22, 2022

Updated Apr.22, 2024

By: Jakub Babkins

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Table of Content

Concierge Service Business Plan For Starting Your Own Company

The purpose of this business plan is to outline the formation of a concierge service business. The concierge service helps clients take care of their everyday tasks by providing various services.  This plan provides a roadmap for the business’s growth from start-up through maturity. The business plan includes the company’s goals, competitive analysis, financial projections, and marketing strategy.

The purpose of business plans for concierge services is to secure financing for the start-up of a concierge service business. This business plan works best for senior daycare business plans too.

2. Executive Summary

The business.

The purpose of this business plan is to provide a comprehensive overview of the Concierge Service business, its operations, and its potential for success. The company, Frail Care Concierge , will provide an array of services to corporate and individual clients, from personal errands to corporate travel assistance. The owner of the concierge service business has a vast knowledge of how to make a concierge service business plan.

The goal is to become the premier concierge service provider in the city. To achieve this, the company will focus on providing exceptional levels of customer service while also striving to remain competitive with our pricing. The company will also ensure that our team is well-trained and knowledgeable about our services.

Business Target

As a concierge service company, the company anticipates generating revenue by providing personalized concierge services to individuals, families, and businesses. The aim of this sample business plan for personal concierge service is to help with negotiating contracts, advertising, PR, and budgeting.

Our goal is to provide a range of services to clients in order to make their lives easier. The services offered will include errand running, grocery shopping, home organization, event planning, and more. Additionally, the window cleaning business plan will provide window cleaning and house cleaning services.

3. Company Summary

Company owner.

Dave Parker is the owner of Frail Care Concierge. He is highly experienced and qualified professional in the concierge industry. He has more than 20 years of experience in concierge management and has gained extensive knowledge in the areas of customer service, concierge management, marketing, sales, and operations.

Why The Concierge Service Is Being Started

The Dave Parker had over 20 years of expertise as a concierge manager, in addition to experience in other sectors of this industry. Having extensive experience in the industry made him start the business and make this personal concierge services business plan.

How The Concierge Service Will Be Started

The senior concierge service business plan financial experts helped the owner make this business plan which aims to enhance the business so that every individual can benefit from it.

These ready-made business plans for concierge services contain the operational plan involving hiring the initial staff, including a manager, an assistant, and a customer service representative.

The Concierge Service business will be started with a minimal amount of capital. This will be used to purchase the necessary tools and equipment needed to start the business, such as computers, furniture, and office supplies.

With the help of financial experts, the concierge company owner estimates startup costs, including assets, investments, loans, and expenses.

As part of the start-up requirements for a Frail Care concierge service, the following information is provided: total startup expenses, total assets, total start-up funding, total funding requirements, total assets, total liabilities, total planned investment, total capital, total liabilities, and total funding.

4. Services of Concierge Service

The purpose of the business plan for a concierge service company is to raise capital and attract potential partners, as well as to provide stakeholders with an overview of the company’s goals, strategies, and financial projections, the services of the concierge service business include:

• Provide personalized concierge services to clients, including errand running, shopping, appointment setting, scheduling, and event planning.
• Create and manage a database of reliable and trusted service providers, such as cleaners, caterers, and chauffeurs.
• Provide research and recommendations on local attractions, restaurants, and other service.
• The carpet cleaning business plan provides services for carpet cleaning.
• Providing services to the dating concierge service business plan includes helping the clients create a profile, finding and vetting potential matches, providing feedback on the best matches, providing date ideas, arranging dates, providing post-date feedback, and providing relationship advice.
• The handyman business plan provides services such as lawn care, pressure washing, gutter cleaning, and snow removal.
• Arrange transportation and accommodation for clients.
• Vet potential service providers and negotiate the best rates for clients.
• Use online technology and platforms to manage client requests and bookings.
• Develop and implement promotional strategies to increase visibility and reach among target audiences.
• Provide customers with a 24/7 support system to ensure satisfaction and loyalty.
• Monitor customer feedback and use it to improve services.
• Monitor industry trends and devise strategies to remain competitive.
• Track performance metrics, such as customer satisfaction ratings and response times.

5. Marketing Analysis

One of the most important components of concierge service business plan templates is the marketing analysis it provides. The concierge service market is a highly competitive and dynamic one. As such, it is important for entrepreneurs to understand the market’s key elements and develop a marketing strategy that considers the trends, opportunities, and threats present in the market.

Market Trends

The main trends in the concierge service market are the changing consumer preferences, the rise of technology, and the increasing demand for convenience. Consumers are increasingly shifting from traditional services to more technological solutions, such as using apps to manage their concierge service needs. In addition, consumers are increasingly demanding more convenience, making the concierge service market highly competitive.

Marketing Segmentation

The business plan for personal concierge service market segmentation It includes individuals, corporate clients such as companies that require assistance with executive travel arrangements, private clients who need assistance with errands, travel arrangements, personal event planning, and specialty clients such as parents looking for child care assistance, seniors who need elderly care assistance, and others.

This is the business plan for investors who want to start a concierge service business, and it targets individuals and corporations. For the concierge service business, the company targets individuals and businesses who need help with their daily activities, as well as those who are seeking professional and personal support. The Frail Care Concierge Company’s services are intended for individuals and businesses from all sectors, such as corporate executives, entrepreneurs, students, families, and others who need assistance.

Product Pricing

The pricing for our concierge services will be based on the service requested. The company will provide a range of services, from basic errand running to more complex tasks, such as event planning and travel arrangements. For each service, the company will offer a base rate, with additional fees for any additional tasks or services requested.

6. Marketing Strategy Of Concierge Service

Competitive analysis.

The concierge service market is highly competitive, with many providers offering similar services. These companies are focusing on expanding their service offerings and launching new services, innovative products, and digital solutions. They are also focusing on strategic collaborations and partnerships to increase their market presence and strengthen their market reputation.

Sales Strategy

In starting a concierge errand business, revenue and profit are the primary objectives. The company will promote our concierge service through a combination of online, print, and word-of-mouth strategies. This will include creating a website and social media profiles, placing ads in local publications, and attending relevant events to spread the word.

Sales Monthly

The luxury concierge business plan focuses on building relationships with other businesses, such as hotels, restaurants, and transportation services, to create a network of partners that can refer customers to the concierge service.

The business generates revenue by selling services to the clients, including errand running, shopping, appointment setting, scheduling, and event planning. According to the experts, the following sales will occur each month, based on the opinions of the experts.

Sales Yearly

The concierge service company earns revenue by providing various services. Based on the experts’ estimates, the following sales are anticipated yearly.

Sales Forecast

There is an expectation of a relatively consistent level of sales for the concierge service company. A steady stream of revenue is expected rather than sharp fluctuations. The following forecasts the sales:

7. Personnel Plan Of Concierge Service

Company staff.

Professional staff will be hired by the owner to assist in starting a concierge service company. Employees will be needed to operate the Company:

The management staff includes;

• General Manager
• Operation Manager
• Human Resources Manager

The operational team includes;

• Front Desk Coordinator
• Concierge Attendants
• Security Guards
• Housekeeping Staff

Other Staff includes;

• Administrative Assistant
• IT Technician
• Receptionist
• Cleaning Staff

Average Salary of Employees

Average salaries of concierge service employees varies according to the company’s location, size, and services. Concierge services generally pay between $25,000 and $100,000 per year.

8. Financial Plan For Concierge Service

In collaboration with financial experts, Dave Parker assessed the company’s finances and developed a strategy for how to start concierge service. To outline the company’s development, they develop financial plans for three years in advance.

Important Assumptions

In order to calculate the financial plan for the concierge service company:

However, deviations are expected to be limited to levels that do not impact the company’s major financial strategies.

Brake-even Analysis

The following is a breakdown of the concierge company’s fixed and variable costs:

An analysis of monthly break-evens is shown in the following table

Projected Profit and Loss

The following is the projected profit and loss for a concierge service company.

Profit Monthly

Profit yearly, gross margin monthly, gross margin yearly, projected cash flow.

Cash flow projections are shown in the following column diagram.

Detailed information about pro forma cash flow is shown in the following table. It includes subtotal cash from operations; subtotal cash received, subtotal operational expenditures, and general assumptions.

Projected Balance Sheet

Below is a projected balance sheet that shows data about the pro forma balance sheet, total current assets, total long-term assets, total assets, current subtotal liabilities, total liabilities, total capital, and total liabilities.

Business Ratios

Here is a table showing business ratios, ratio analysis, and total assets.

• How much does it cost to start a concierge business? The cost of starting a concierge business varies significantly depending on the type and size of the business. You may have to pay licensing, insurance, marketing, equipment, and staffing costs. Also, you may need to pay for services such as bookkeeping, web hosting, and other operational costs. Starting a concierge business can cost anywhere from a few thousand dollars to several thousand dollars.
• Do I need a license to start a concierge business? Yes. Depending on the state you are in, you may need a business license, permits, or other licenses to start a concierge business. Additionally, you may need to be certified or trained in certain areas, such as first aid or CPR. It is important to research the requirements in your area before starting a concierge business.

Download Concierge Service Business Plan Sample in pdf

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Concierge Business Plan Template

Writing a successful business plan for your concierge business + template.

If you’re looking to start or grow a concierge business, you need a business plan. Your plan will outline your business goals and strategies, and how you plan on achieving them. It will also detail the amount of funding you need, and if needed, present a case to investors and lenders regarding why they should invest in your business.

In this article, we’ll explain why you should invest the time and energy into creating a concierge business plan, and provide you with a concierge business plan template that includes an overview of what should be included in each section.

Why Write a Business Plan For a Concierge Business?

There are many reasons to write a business plan for a concierge company, even if you’re not looking for funding. A business plan can help you see potential pitfalls in your business strategy, as well as identify opportunities you may not have considered. It can also help you track your progress and adjust your plans as needed.

That said, if you are looking for funding, a business plan is essential. Investors and lenders want to see that you have a solid understanding of your industry, your customers, and your competition. They also want to know that you have a realistic view of your financial situation and how much money you’ll need to get started.

How To Write a Business Plan For a Concierge Business

While every business plan is different, there are 10 essential components that all concierge business plans should include:

Executive Summary

Company description, industry analysis, customer analysis, competitor analysis, marketing plan, operations plan, management team, financial plan.

Keep in mind that you’ll need to tailor this information to your specific type of concierge business, but these 10 components should be included in every plan.

The executive summary is the first section of your business plan, but it’s often written last. This is because it provides an overview of the entire document.

In the executive summary, briefly explain what your business does, your business goals, and how you plan on achieving them. You should also include a brief overview of your financial situation, including how much money you’ll need to get started.

For organizational purposes, you could create headings for each main section of your business plan to highlight the key takeaways.

For example, your concierge executive summary might look something like this:

Company Overview

[Insert Company Introduction / Short Summary]

Business Goals

[Insert Business Goals & How You Plan To Achieve Them]

Industry Overview

[Insert Industry Statistics on the Size of Your Market]

Competition

[Insert Overview of Competitors & Your Competitive Advantage]

[Insert Information About The Marketing Strategies You Will Use To Attract Clients/Customers]

Financial Overview

You can add and/or remove sections as needed, but these are the basics that should be included in every executive summary.

The next section of your concierge business plan is the company description, where you’ll provide an overview of your business.

Include information about your:

• Company History & Accomplishments To Date

Mission Statement and/or Company Values

With regards to the company overview, here you will document the type of concierge company you operate. For example, there are several types of concierge companies such as:

• Home-Based Concierge Businesses
• Business Concierge Services
• Lifestyle Management Companies
• Homeowners’ Association Concierge Services

For example, a concierge company description might look something like this:

We are an X type of concierge company.

Company History

If an existing company: Since launching, our team has served X customers and generated $Y in revenue.

If startup: I conceived [company name] on this date. Since that time, we have developed the company logo, found potential space, etc. 

This is just an example, but your company description should give potential investors a clear idea of who you are, what you do, and why you’re the best at what you do.

The next section of your business plan is the industry analysis. In this section, you’ll need to provide an overview of the industry you’re in, as well as any trends or changes that might impact your business.

Questions you will want to answer include:

• What is the overall size of the concierge industry?
• How is the industry growing or changing?
• What are the major trends affecting the concierge industry?
• Who are the major players in the concierge industry?

For example, your industry analysis might look something like this:

The size of the concierge industry is $XX billion.

It is currently growing at an annual rate of 5%, with the industry expected to be worth $10 billion by 2025.

Major trends affecting the industry are the growth of the economy and the rise of millennial entrepreneurs. The increase in new businesses is also driving the business concierge segment of the industry.

How We Fit Into The Industry

This is just an example, but your industry analysis should give potential investors a clear idea of the overall industry, and how your company fits into that industry.

The next section of your concierge business plan is the customer analysis. In this section, you’ll need to provide an overview of who your target customers are and what their needs are.

• Who are your target customers?
• What are their needs?
• How do they interact with your industry?
• How do they make purchasing decisions?

You want a thorough understanding of your target customers to provide them with the best possible products and/or services. Oftentimes, you will want to include the specific demographics of your target market, such as age, gender, income, etc., but you’ll also want to highlight the psychographics, such as their interests, lifestyles, and values.

This information will help you better understand your target market and how to reach them.

For example, your customer analysis might look something like this:

Target Market & Demographics

The demographic (age, gender, location, income, etc.) profile of our target concierge customer is as follows: 

– Age: 25-54

– Gender: Male/Female

– Location: Urban

– Income: $50,000+

– Education: College educated

Psychographics

Our core customer interests are as follows: 

– Technology: They are early adopters of new technology and they appreciate the convenience that concierge services can provide.

– Travel: They enjoy traveling and they are willing to pay for concierge services that will make their travel experiences more convenient and enjoyable.

In summary, your customer analysis should give potential investors a clear idea of who your target market is and how you reach them.

The next section of your business plan is the competitor analysis. In this section, you’ll need to provide an overview of who your major competitors are and their strengths and weaknesses.

• Who are your major competitors?
• What are their strengths and weaknesses?
• How do they compare to you?

You want to make sure that you have a clear understanding of your competition so that you can position yourself in the market. Creating a SWOT Analysis (strengths, weaknesses, opportunities, threats) for each of your major competitors helps you do this. 

For example, your competitor analysis might look something like this:

Major Competitors

XYZ Company is our major competitor. Its offerings include this, this and this. Its strengths include XYZ, and its weaknesses include XYZ.

Competitive Advantage

Your competitor analysis should give potential lenders and investors a clear idea of who your major competitors are and how you compare to them.

The next section of your business plan is the marketing plan. In this section, you’ll need to provide an overview of your marketing strategy and how you plan on executing it.

Specifically, you will document your “4 Ps” as follows:

• Products/Services : Here is where you’ll document your product/service offerings.
• Price : Detail your pricing strategy here.
• Place : Document where customers will find you and whether you will use distribution channels (e.g., partnerships) to reach them.
• Promotion : Here you will document how you will reach your target customers. For instance, concierge businesses often reach new customers via promotional tactics including print and online advertising, public relations, direct mail, and/or email marketing.

For example, your marketing plan might look something like this:

Products/Services

We offer the following products/services: 

We will use a premium pricing strategy to establish ourselves as the highest quality brand.

We will serve customers directly and through a partnership with XYZ company.

As you can see, your marketing plan should give potential investors a clear idea of your marketing objectives, strategies, and tactics.

The next section of your business plan is the operations plan. In this section, you’ll need to provide an overview of your company’s day-to-day operations and how they will be structured.

• What are your company’s daily operations?
• How are your company’s operations structured?
• Who is responsible for each task?

Your operations plan should be detailed and concise. You want to make sure that potential investors have a clear understanding of your company’s day-to-day operations and how they are structured.

You will also include information regarding your long-term goals for your operations and how you plan on achieving them.

For example, your operations plan might look something like this:

Daily Operations

Our company’s daily operations include XYZ.

Operational Structure

Our company is structured as follows:

• Department 1
• Department 2
• Department 3

Each department is responsible for XYZ tasks.

Long-Term Goals

Our long-term goals for our operations are to achieve the following over the next five years.

Date 1: Goal 1

Date 2: Goal 2

Date 3: Goal 3

Date 4: Goal 4

Your operations plan should give readers a clear idea of your company’s day-to-day operations, how they are structured, and your long-term goals for the company.

The next section of your business plan is the management team. In this section, you’ll need to provide an overview of your management team and their experience.

• Who is on your management team?
• What are their qualifications?
• What is their experience?

Your management team ideally includes individuals who are experts in their respective fields. You want to make sure that lenders and investors have a clear understanding of your management team’s qualifications and experience, and feel they can execute on your plan.

For example, your management team might look something like this:

Our management team is comprised of the following X individuals with the following experience.

Team Member 1: 

Team member 1’s qualifications and experience include XYZ.

Team Member 2: 

Your management team should give potential lenders and investors a clear idea of who is on your team and how their qualifications and experience will help your company succeed.

The final core section of your business plan is the financial plan. In this section, you’ll need to provide an overview of your company’s financials.

• What are your company’s projected revenues?
• What are your company’s projected expenses?
• What is your company’s projected growth rate?
• How much funding do you need and for what purposes? For example, most startup concierge businesses need outside funding for things such as marketing, staff salaries, and office lease.

Your financial plan should give potential investors a clear understanding of your company’s financials. While you may include a summary of this information in this section, you will include full financial statements in the appendix of your business plan.

For example, your financial plan might look something like this:

Our company’s projected revenues over the next five years are $XYZ.

Expenses & Net Income

Our company’s projected expenses and net income over the next five years are $XYZ.

Uses of Funding

This is just an example, but your financial plan should give potential investors a clear idea of your company’s financial projections.

The final section of your business plan is the appendix. In this section, you’ll need to provide any additional information that was not included in the previous sections.

This may include items such as:

• Full financial statements
• Resumes of key management team members
• Letters of reference
• Articles or press releases
• Marketing materials
• Product information
• Any other relevant information

By including this information in the appendix, you are allowing potential investors and lenders to learn more about your company.

In summary, writing a concierge business plan is a vital step in the process of starting and/or growing your own business.

A business plan will give you a roadmap to follow. It can also help you attract investors and partners.

By following the tips outlined in this article, you can be sure that your business plan will be effective and help you achieve your goals.

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How To Write a Business Plan for Concierge in 9 Steps: Checklist

By henry sheykin, resources on concierge.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model
• Marketing Plan

Are you considering starting a concierge business? With the ever-growing demand for personalized services, the concierge industry is booming in the US. According to recent statistics, the global concierge services market is expected to reach $773.3 billion by 2027, growing at a CAGR of 6.8% . This presents a lucrative opportunity for aspiring entrepreneurs like you to enter this thriving market.

So, how do you get started? Writing a business plan is the essential first step to success. A well-crafted business plan not only serves as a roadmap for your concierge business but also helps you attract investors, secure financing, and navigate the challenges that lie ahead.

To help you in your journey, we have compiled a comprehensive checklist with 9 steps to write an effective business plan for your concierge business. By following these steps, you'll be well on your way to establishing a successful concierge service that caters to busy professionals and high-net-worth individuals.

• Conduct market research: Understand the current market trends, customer demands, and potential opportunities in the concierge industry.
• Identify target customer segment: Determine your ideal customer base and tailor your services to meet their specific needs.
• Analyze competitors: Research your competitors to identify their strengths, weaknesses, and strategies to differentiate your concierge business.
• Define unique value proposition: Clearly articulate the unique selling points of your concierge service that set you apart from your competitors.
• Determine pricing strategy: Establish a pricing structure that reflects the value of the services you offer while remaining competitive in the market.
• Assess resource requirements: Evaluate the resources, including human capital and technology, needed to effectively deliver your concierge services.
• Develop marketing and sales plan: Outline your marketing strategies and tactics to attract and retain clients in the competitive concierge industry.
• Create operational plan: Detail the day-to-day operations of your concierge business, including service delivery, vendor management, and quality control.
• Establish financial projections: Project and analyze your revenue, expenses, and profitability to ensure the financial viability of your concierge business.

By following this checklist and putting in the necessary time and effort to write a comprehensive business plan, you'll be well-prepared to enter the world of concierge services and offer personalized attention and convenience to your discerning clientele.

Conduct Market Research

Before embarking on your journey to start a concierge business, it is crucial to conduct thorough market research to understand the industry landscape and identify potential opportunities. By gathering and analyzing valuable data, you can make informed decisions that will shape the success of your business.

Here are some key steps to consider when conducting market research for your concierge business:

• Identify your target market: Determine who your ideal customers are and what specific needs or pain points they have. Are you targeting busy professionals, high-net-worth individuals, or a specific niche market? Understanding your target market will help you tailor your services and marketing efforts effectively.
• Assess market demand: Evaluate the demand for concierge services in your area. Research indicates the level of competition and the potential size of your target market. Look for areas where competition is limited, yet demand is high, as this can present a lucrative opportunity for your business.
• Study your competition: Analyze existing concierge businesses in your region. Examine their services, pricing, and target market to identify gaps or areas where you can differentiate your business. This research will help you develop a unique value proposition and position your business effectively.
• Stay updated: Keep abreast of industry trends, new technologies, and emerging customer preferences. This will help you adapt your business strategy and offer innovative solutions that meet the evolving needs of your target audience.

Research Tip:

• Explore online forums and social media platforms to gain insights into customers' preferences, pain points, and expectations in the concierge industry. Engaging with potential customers directly can provide valuable feedback and help you tailor your services to their specific needs.

By conducting comprehensive market research, you lay the foundation for a successful concierge business. The insights gained during this phase will guide your business decisions, allowing you to develop a solid business plan that caters to your target market's needs and expectations.

Identify Target Customer Segment

Identifying your target customer segment is a critical step in formulating a successful business plan for your concierge service. By understanding who your ideal customers are, you can tailor your services to meet their unique needs and preferences. Here are some important considerations when identifying your target customer segment:

• Demographics: Start by analyzing the demographics of your potential customers, such as age, gender, occupation, income level, and location. This information will help you determine how to position your services in the market and effectively target your marketing efforts.
• Psychographics: Dive deeper into the psychographics of your target audience by analyzing their attitudes, interests, values, and lifestyle choices. Understanding their motivations and preferences will enable you to create a personalized and appealing service offering.
• Needs and Pain Points: Conduct market research or surveys to identify the specific needs and pain points of your potential customers. This will help you develop services that directly address their challenges and provide value.
• Client Profile: Create a detailed client profile that represents your ideal customer. Include information such as their job title, hobbies, preferred communication channels, and purchasing behavior. This profile will serve as a guiding reference in your marketing and sales efforts.

Tips for Identifying Your Target Customer Segment:

• Consider conducting focus groups or interviews with potential customers to gain firsthand insights into their preferences and expectations.
• Utilize online resources and tools such as social media analytics and industry reports to gather data and analyze customer behavior patterns.
• Stay updated on market trends and industry developments to identify emerging customer segments or niches.
• Regularly review and refine your target customer segment as your business evolves and new opportunities arise.

Analyze Competitors

One crucial step in developing a successful business plan for a concierge service is the thorough analysis of your competitors. By understanding the competitive landscape, you can identify opportunities, differentiate your business, and develop strategies to gain a competitive advantage.

Start by researching and listing your direct competitors, those who offer similar concierge services in your target market. Analyze their strengths and weaknesses, the services they offer, and their pricing structure. This will give you a clear picture of what sets them apart, what gaps exist in the market, and how you can position your business to stand out.

Next, analyze their customer base and target audience to understand who they are serving and how they are reaching them. This information will help you identify potential customer segments that are currently underserved or overlooked by your competitors. Consider demographics, psychographics, and any specific needs or preferences of these segments.

It is also important to assess competitors' marketing and branding strategies. Look at their online presence, social media engagement, and customer reviews. Pay attention to how they communicate their value proposition and how they differentiate themselves in the market. This analysis will guide you in crafting a compelling and unique value proposition for your concierge service.

• Tip 1: Utilize online tools and platforms to monitor and track your competitors' activities. This will provide valuable insights into their marketing strategies, customer feedback, and engagement levels.
• Tip 2: Consider conducting mystery shopping to gather first-hand information about the customer experience your competitors provide. This will help you identify areas for improvement and discover ways to exceed customer expectations.
• Tip 3: Collaborate with industry associations or attend networking events to gain knowledge about your competitors and build connections within the concierge service industry. This can provide valuable insights and potential partnerships.
• Utilize online tools and platforms to monitor and track your competitors' activities.
• Consider conducting mystery shopping to gather first-hand information about the customer experience your competitors provide.
• Collaborate with industry associations or attend networking events to gain knowledge about your competitors and build connections within the concierge service industry.

Define Unique Value Proposition

The unique value proposition (UVP) is the core message that sets your concierge business apart from competitors and communicates the value you provide to your target customers. It is essential to define your UVP clearly and concisely so that potential clients understand why they should choose your services over others.

To define your unique value proposition, consider the following:

• Your target customer segment: Who are your ideal clients? What are their needs, pain points, and preferences? Understand their desires and challenges, so you can tailor your UVP to address them effectively.
• Your distinct qualities: Identify the specific attributes or qualities that make your concierge services exceptional. This could be your expertise in a particular industry, your personalized approach, or your ability to handle complex tasks efficiently.
• The benefits you offer: Outline the tangible benefits your clients can expect to receive by choosing your services. These benefits should solve their problems, save them time, or enhance their overall experience.

Tips for Defining Your Unique Value Proposition:

• Focus on what makes you different: Highlight the aspects that set you apart from other concierge businesses. Avoid generic statements and strive to convey your uniqueness in a compelling and memorable way.
• Emphasize the outcomes: Clearly communicate the positive outcomes clients can expect from using your services. This could be increased productivity, reduced stress, or peace of mind knowing that their needs are taken care of.
• Be concise and clear: Craft a concise UVP that captures the essence of your business in a few sentences or a short paragraph. Avoid jargon and technical terms that might confuse or alienate your target audience.

By defining your unique value proposition, you can effectively differentiate your concierge business in a crowded marketplace. A compelling UVP will attract the attention of potential clients and clearly communicate why they should choose your services over others.

Determine Pricing Strategy

Developing a pricing strategy is a critical step in writing a business plan for a concierge service. It involves determining how much to charge clients for the services offered. Here are some important considerations:

• Know your costs: Calculate the costs associated with running your concierge business, including overhead expenses, employee salaries, and any other direct or indirect costs. This will help you set a baseline for your pricing strategy.
• Research the market: Analyze the pricing of your competitors and ensure that your rates are competitive. Consider the value you are providing to clients and determine if you can justify charging a premium.
• Consider your target customer: Understand the spending habits and budgets of your target customer segment. Pricing your services too high may deter potential clients, while pricing too low may raise concerns about quality.
• Offer different pricing tiers: Consider offering different service packages or tiers with varying levels of services and prices. This can cater to clients with different needs and budgets.
• Incorporate ancillary revenue streams: Explore opportunities to generate additional revenue, such as affiliate partnerships with other service providers or offering add-on services that can be charged separately.
• Regularly review and adjust pricing: Monitor market conditions, changes in costs, and customer feedback to ensure your pricing remains competitive and sustainable.

By carefully determining your pricing strategy, you can strike the right balance between profitability and attracting clients who value the services you provide. Remember to regularly evaluate and adjust your pricing to stay competitive in the evolving concierge market.

Assess Resource Requirements

Assessing resource requirements is a crucial step in creating a comprehensive business plan for your concierge service. It involves identifying the resources you will need to efficiently and effectively deliver your services to your target customers. By conducting a thorough assessment, you can ensure that you have the necessary tools, equipment, and personnel to meet the demands of your clients.

• Identify the core competencies: Begin by listing the key skills and expertise needed to carry out your concierge services. This could include areas such as organization skills, communication skills, and knowledge of various local resources or vendors. Identifying these core competencies will help you determine the qualifications and abilities required for your staff.
• Evaluate personnel needs: Assess your staffing requirements based on the services you plan to offer and the demand you anticipate. Consider the number of concierge specialists or assistants you may need, as well as any additional staff for administrative tasks or customer support. Keep in mind that having a team with diverse skills and experiences can enhance your ability to provide high-quality service.
• Gauge equipment and technology needs: Determine the tools, equipment, and technology necessary to deliver your services effectively. This may include office supplies, computer systems, communication devices, and specialized software for managing bookings, client information, and tracking expenses. Make sure to allocate a budget for these resources and consider the most cost-effective options that align with your business needs.
• Account for physical space and facilities: Assess whether you need a physical office space to operate your concierge service. Consider factors like accessibility, security, and proximity to your target market. If you choose to establish a physical presence, remember to account for rent, utilities, and any necessary furnishings.
• Secure partnerships and service providers: Determine if you need to establish partnerships or collaborations with other businesses or service providers to enhance your service offerings. For example, you may need to partner with local vendors, hotels, or transportation providers to secure discounted rates or preferred access for your clients. Identify potential partners who share your commitment to delivering exceptional service.

Tips for Assessing Resource Requirements:

• Regularly review and assess your resource requirements as your business grows and evolves. This will help you adapt to changing customer needs and market trends.
• Consider outsourcing certain tasks or services to optimize efficiency and cost-effectiveness. Freelancers or specialized service providers can assist with specific projects or areas of expertise.
• Create a contingency plan for unexpected situations or emergencies. Identify backup resources or alternative suppliers to ensure uninterrupted service delivery.
• Seek feedback from your staff and customers on resource requirements. Their insights and perspectives can provide valuable information for continuous improvement.

By thoroughly assessing your resource requirements, you can ensure that you have the necessary assets and capabilities to provide top-notch concierge services. This step will not only contribute to the overall success of your business but also help you deliver exceptional experiences that meet and exceed your clients' expectations.

Develop Marketing And Sales Plan

Once you have conducted thorough market research, identified your target customer segment, analyzed competitors, defined your unique value proposition, determined your pricing strategy, and assessed your resource requirements, it's time to develop a comprehensive marketing and sales plan. This plan will outline the strategies and tactics you will use to promote your concierge services, attract customers, and generate revenue. Here are some important steps to consider:

• Identify your marketing channels: Determine which channels you will use to reach your target customers. This can include online platforms such as social media, search engine marketing, and email marketing, as well as offline channels like networking events, local advertising, and partnerships with complementary businesses.
• Create a compelling brand message: Develop a clear and concise brand message that highlights the unique benefits and value your concierge services offer. This message should resonate with your target customers and differentiate you from your competitors.
• Build a professional website: Establish an online presence with a well-designed, user-friendly website that showcases your services, features testimonials or case studies from satisfied clients, and provides contact information for inquiries or bookings.
• Implement effective SEO strategies: Optimize your website and online content for search engines to drive organic traffic. Use relevant keywords, create high-quality content, and work on building backlinks to improve your website's visibility in search results.
• Utilize social media platforms: Leverage social media platforms such as Facebook, Instagram, LinkedIn, and Twitter to promote your concierge services, engage with potential customers, and share valuable content. Tailor your messaging and content to each platform and engage in conversations to build relationships.
• Offer referral incentives: Encourage your satisfied clients to refer your services to others by providing incentives such as discounts or rewards. Word-of-mouth marketing can be incredibly powerful in generating new leads and expanding your customer base.
• Partner with complementary businesses: Forge partnerships with businesses that offer complementary services or products to yours, such as hotels, event planners, or personal stylists. Collaborations and cross-promotions can help you reach a wider audience and attract new customers.
• Regularly analyze and measure the effectiveness of your marketing efforts to identify what is working and what needs adjustments.
• Continuously monitor industry trends and stay updated on the latest marketing strategies relevant to your target customer segment.
• Consider offering limited-time promotions or exclusive packages to create a sense of urgency and encourage potential customers to take action.
• Invest in lead generation activities such as content marketing, webinars, or networking events to attract qualified leads.

Create Operational Plan

An operational plan is a crucial component of a business plan for concierge services. It outlines the day-to-day operations and processes that will enable the business to deliver exceptional service to its clients. Here are the key steps to create an effective operational plan:

• 1. Define service offerings: Clearly define the services your concierge business will offer. This could include tasks such as event planning, personal shopping, or housekeeping. By determining your service offerings upfront, you can ensure that you have the necessary resources and systems in place to deliver on customer expectations.
• 2. Identify staffing requirements: Assess the number of staff members you will need to effectively meet client demands. Consider factors such as workload, peak hours, and specialized skills required for certain tasks. Determine whether you will hire full-time, part-time, or contract employees, and establish a recruitment and training process to ensure a qualified team.
• 3. Establish operational processes: Outline the step-by-step processes for executing different tasks and services. Include details on how to handle client inquiries, booking and scheduling procedures, and quality assurance measures. Developing standardized processes will help maintain consistency, efficiency, and professionalism in your operations.
• 4. Implement technology solutions: Leverage technology to streamline operations and enhance customer experience. Invest in a reliable customer relationship management (CRM) system to manage client information, track interactions, and facilitate efficient communication. Consider using project management tools to stay organized and collaborate with team members effectively.
• 5. Develop vendor partnerships: Identify and establish relationships with vendors, suppliers, and service providers who can support your business operations. This could include partnering with transportation companies, event venues, or catering services. Negotiate competitive rates and establish agreements that prioritize reliability, quality, and cost-effectiveness.
• Regularly review and update your operational plan to adapt to changing market dynamics and client demands.
• Invest in staff training and development to ensure that they have the necessary skills to deliver exceptional service.
• Establish clear communication channels and protocols to ensure effective and timely interaction with clients and staff.
• Maintain a database of trusted service providers to quickly address client requests that fall outside of your core offerings.

By creating a comprehensive operational plan, you can ensure that your concierge business is well-equipped to deliver exceptional service and meet the unique needs of your clients.

Establish Financial Projections

Creating accurate financial projections is essential for the success of your concierge business. These projections will help you understand the potential profitability of your venture and make informed decisions about pricing, expenses, and growth strategies. Here are the key steps to establishing financial projections for your concierge business:

• 1. Identify Revenue Streams: Determine all possible sources of revenue for your concierge business, such as hourly fees, project-based fees, or commissions from partnering businesses.
• 2. Estimate Pricing: Based on your market research and competitor analysis, determine the optimal pricing for your services. Consider factors like the value you provide, client purchasing power, and industry norms.
• 3. Forecast Sales: Based on your target customer segment and marketing efforts, project the number of clients and sales you expect to generate per month or year.
• 4. Calculate Costs: Identify all the costs involved in running your concierge business, including labor, marketing, technology, insurance, office space, and supplies. Be as comprehensive as possible to avoid underestimating expenses.
• 5. Establish a Break-Even Point: Determine the minimum number of clients or sales you need to cover your costs and start generating profit. This will help you set realistic goals and measure your business's financial performance.
• 6. Create a Cash Flow Statement: Develop a detailed projection of your business's cash inflows and outflows over a specific period. This will help you manage your finances effectively and ensure you have enough capital to operate and grow.
• 7. Set Financial Goals: Define your short-term and long-term financial objectives, such as revenue targets, profit margins, and return on investment. These goals will guide your decision-making and keep you focused on achieving financial success.

Financial Projections Tips:

• Regularly review and update your financial projections as your business evolves.
• Consider seeking guidance from a financial advisor or accountant to ensure accuracy.
• Use realistic and conservative assumptions when projecting revenue and expenses.
• Track your actual financial performance against your projections to identify any gaps or opportunities for improvement.

By establishing comprehensive and realistic financial projections, you can confidently navigate the financial aspects of your concierge business and make informed decisions to drive its success.

Writing a business plan for a concierge service is a crucial step in ensuring the success and profitability of your business. By following the nine steps outlined in this checklist, you can thoroughly analyze your market, identify your target customers, differentiate yourself from competitors, develop a comprehensive marketing and sales plan, and establish realistic financial projections. Taking the time to plan and strategize will set you on the path to effectively meet the unique needs and demands of your clients in the concierge industry.

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Personal Concierge Business

Back to All Business Ideas

How to Start a Personal Concierge Business

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on April 21, 2022 Updated on May 14, 2024

Investment range

$2,550 - $6,100

Revenue potential

$78,000 - $292,000 p.a.

Time to build

0 – 3 months

Profit potential

$70,000 - $117,000 p.a.

Industry trend

Personal concierge services are similar to a hotel concierge’s services but go beyond that, adding elements of personal assistance work. Used by more and more professionals, as well as busy moms, a personal concierge might do your grocery shopping, pick up your dry cleaning, and make restaurant and travel bookings. The concierge services market is forecast for strong growth in the coming years, so you could start your own personal concierge service, get in on that market, and make a good living. 

But first, you need to understand what’s involved in launching a business. Fortunately, the entire entrepreneurial process is detailed in this step-by-step guide, which will prepare you to start your successful personal concierge service.

Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.

Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .

Step 1: Decide if the Business Is Right for You

Pros and cons.

Starting a personal concierge business had pros and cons to consider before deciding if it’s right for you.

• Good Money – Make about $75 per hour
• Low Expenses – No rent or overhead; run the business from home
• Engaging Work – Work for interesting people; no day will be the same
• Odd Hours – May have to work some evenings and weekends
• Demanding Clients – Clients may have high expectations

Concierge industry trends

Industry size and growth.

• Industry size and past growth – The global concierge service industry was worth $537.6 million in 2028.(( https://www.grandviewresearch.com/industry-analysis/concierge-services-market ))
• Growth forecast – The global concierge service industry is projected to expand by nearly 44% by 2025 to reach $773 million. 

Trends and challenges

Trends in the personal concierge industry include:

• More and more companies are contracting with external personal concierge services to their upper-level managers as a benefit. This broadens the opportunity for personal concierge businesses to target a whole new market. 
• While concierge services used to be for the wealthy, they are increasingly being used by busy families and seniors. Many concierge businesses offer specific packages of services for those groups for one monthly charge.

Challenges in the personal concierge industry include:

• When the economy faces challenges such as the current inflation situation, personal concierge services are often among the first expenses to be cut. 
• Personal concierge services may involve a lot of driving, so rising fuel costs can cut into profit margins.

Demand hotspots

• Most popular states – The most popular states for concierges are California, Maine, and Wisconsin.(( https://www.zippia.com/concierge-jobs/best-states/ ))
• Least popular states – The least popular states for concierges are Alabama, New Hampshire, and Louisiana.

What kind of people work in personal concierge?

• Gender –   58.9% of concierges are female, while 36.8% are male . (( https://www.zippia.com/concierge-jobs/demographics/ ))
• Average level of education – The average concierge has a bachelor’s degree.
• Average age – The average concierge in the US is 45.2 years old.

How much does it cost to start a personal concierge business?

Startup costs for a personal concierge business range from $2,500 to $6,000 assuming you already have a car. Costs include a computer and a website.

You could also get a membership in the National Concierge Association (NCA) for about $300 annually. After you have some experience and meet a few other qualifications you can become an NCA accredited associate and later a certified concierge, giving you added credibility. 

How much can you earn from a personal concierge business?

You can earn about $75 per hour for personal concierge services. Luxury concierge services, meaning more extensive services like event planning, can cost between $90 and $125 per hour. Your profit margin should be about 90%.

In your first year or two, you could have two clients for whom you work 10 hours a week, bringing in $78,000 in annual revenue. This would mean more than $70,000 in profit, assuming that 90% margin. As your business gains traction, you could have five clients at 15 hours a week. At this stage, you’d hire employees, reducing your profit margin to 40%. With annual revenue of $292,000, you’d still make an impressive profit of $117,000.

What barriers to entry are there?

The only barrier to entry for a personal concierge business is breaking into the market and finding your first clients.

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Step 2: hone your idea.

Now that you know what’s involved in starting a personal concierge business, it’s a good idea to hone your concept in preparation to enter a competitive market. 

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

Research personal concierge businesses in your area to examine their services, price points, and customer reviews. You’re looking for a market gap to fill. For instance, maybe the local market is missing a luxury concierge service or a corporate concierge service. 

You might consider targeting a niche market by specializing in a certain aspect of your industry, such as event planning concierge services or an errand service for busy people.

This could jumpstart your word-of-mouth marketing and attract clients right away. 

What? Determine your services

You can offer any number of services as a personal concierge such as:

• Restaurant reservations or travel arrangements
• Errands like grocery shopping, putting gas in cars, picking up from the pharmacy
• Dog walking and pet sitting
• Bill sorting
• Appointment making and scheduling 

How much should you charge for personal concierge services?

Prices for personal concierge services are $65 to $75 per hour. Luxury concierge services rates can go up to $125 an hour. Your costs will be limited to fuel, insurance, and marketing, so you should aim for a profit margin of about 90%.

Once you know your costs, you can use this Step By Step profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Your target market is likely to be more established people and professionals, whom you can find on Facebook or LinkedIn.

Where? Choose your business premises

In the early stages, you may want to run your business from home to keep costs low. But as your business grows, you’ll likely need to hire workers for various roles and may need to rent out an office. You can find commercial space to rent in your area on sites such as Craigslist , Crexi , and Instant Offices .

When choosing a commercial space, you may want to follow these rules of thumb:

• Central location accessible via public transport
• Ventilated and spacious, with good natural light
• Flexible lease that can be extended as your business grows
• Ready-to-use space with no major renovations or repairs needed

Step 3: Brainstorm a Business Name

Here are some ideas for brainstorming your business name:

• Short, unique, and catchy names tend to stand out
• Names that are easy to say and spell tend to do better 
• Name should be relevant to your product or service offerings
• Ask around — family, friends, colleagues, social media — for suggestions
• Including keywords, such as “concierge” or “personal concierge”, boosts SEO
• Name should allow for expansion, for ex: “Personalized Concierge Services” over “Travel Concierge Services”
• A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Business Plan

Here are the key components of a business plan:

• Executive Summary: A brief summary outlining the personal concierge business, including its mission, key objectives, and potential for success.
• Business Overview: An overview of the personal concierge business, detailing its mission, vision, values, and the problem it aims to solve for clients.
• Product and Services: A concise description of the specific services offered by the personal concierge business, such as errand running, event planning, and lifestyle management.
• Market Analysis: An analysis of the target market for the personal concierge services, including demographics, needs, and trends that present opportunities for the business.
• Competitive Analysis: An examination of competitors in the personal concierge industry, highlighting strengths, weaknesses, and unique selling points to position the business effectively.
• Sales and Marketing: A plan outlining how the personal concierge business will promote its services, attract clients, and generate revenue.
• Management Team: A brief introduction to the key members of the personal concierge business team, highlighting their skills and expertise.
• Operations Plan: Details on the day-to-day operations of the personal concierge business, covering tasks, schedules, and client interactions.
• Financial Plan: A comprehensive overview of the personal concierge business’s financial projections, including revenue forecasts, expenses, and profit margins.
• Appendix: Additional supporting documents or information, such as resumes of key team members, market research data, or legal documents, to provide a more in-depth understanding of the business.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business! 

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you’re planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to personal concierge businesses. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state. 

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your personal concierge business will shape your taxes, personal liability, and business registration requirements, so choose wisely. 

Here are the main options:

• Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
• General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
• Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
• C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
• S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just need to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have. 

Form Your LLC

Choose Your State

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Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN. 

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you’re completing them correctly.

Step 7: Fund your Business 

Securing financing is your next step and there are plenty of ways to raise capital:

• Bank loans: This is the most common method but getting approved requires a rock-solid business plan and strong credit history.
• SBA-guaranteed loans: The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
• Government grants: A handful of financial assistance programs help fund entrepreneurs. Visit Grants.gov to learn which might work for you.
• Friends and Family: Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
• Crowdfunding: Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
• Personal: Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best option, other than friends and family, for funding a personal concierge business. You might also try crowdfunding if you have an innovative concept. 

Step 8: Apply for Licenses/Permits

Starting a personal concierge business requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you’ll need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your personal concierge business as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet it can be vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

• General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
• Business Property: Provides coverage for your equipment and supplies.
• Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
• Worker’s compensation: Provides compensation to employees injured on the job.
• Property: Covers your physical space, whether it is a cart, storefront, or office.
• Commercial auto: Protection for your company-owned vehicle.
• Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
• Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business. 

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks. 

You may want to use industry-specific software, such as Blackbell or FCS , to manage your tasks, orders, payments, personal calendar, and customer support.

• Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero . 
• If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial. 

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using services like WordPress, Wix, or Squarespace . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

Here are some powerful marketing strategies for your future business:

• Targeted Partnerships: Collaborate with local businesses, such as high-end restaurants, hotels, or event venues, to establish mutually beneficial partnerships, expanding your reach and credibility.
• Referral Programs: Encourage satisfied clients to refer your services by implementing a referral program, offering incentives like discounts or complimentary upgrades for each successful referral.
• Community Events Participation: Attend local events, trade shows, or community gatherings to showcase your services and engage with potential clients face-to-face, building trust and a personal connection.
• Social Media Engagement: Leverage social media platforms strategically by sharing valuable content, client testimonials, and behind-the-scenes glimpses to build an online presence and connect with a wider audience.
• Loyalty Programs: Implement loyalty programs to reward repeat clients, fostering long-term relationships and encouraging them to consistently choose your services over competitors.
• Content Marketing: Create informative blog posts, videos, or podcasts that highlight the benefits of personal concierge services, addressing common challenges faced by busy individuals and showcasing your expertise.
• Local SEO Optimization: Optimize your online presence for local search by ensuring accurate business information, obtaining positive reviews, and utilizing location-specific keywords to enhance your visibility on search engines. Regularly update your Google My Business and Yelp profiles to strengthen your local search presence.
• Specialized Packages: Develop specialized service packages tailored to specific needs, such as corporate concierge services, vacation planning, or event coordination, to attract diverse clientele with unique requirements.
• Testimonials and Case Studies: Showcase success stories through client testimonials and case studies on your marketing materials, highlighting the tangible benefits and positive outcomes of your personalized services.
• Promotional Events and Workshops: Organize promotional events or workshops to demonstrate your skills and services firsthand, allowing potential clients to experience the value you bring to their lives.

Focus on USPs

Unique selling propositions, or USPs, are the characteristics of a product or service that set it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your personal concierge business meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire. 

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your personal concierge business could be:

• Luxury concierge services to meet your every need
• Need a helping hand? Let our attentive concierges carry the load 
• Corporate concierge services to take the pressure off your team

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a personal concierge business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in personal concierge services for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in concierge services. You’ll probably generate new customers or find companies with which you could establish a partnership. 

Step 12: Build Your Team

If you’re starting out small from a home office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a personal concierge business include:

• Concierges – perform concierge services
• General Manager – staff management, accounting
• Marketing Lead – SEO strategies, social media

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need. 

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn, Facebook, or Jobs.com. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent. 

Step 13: Start Making Money!

If you want an inexpensive business that you can start from home, look no further! Starting a personal concierge business is a great way to break into a market that’s set to expand by more than 40%. And at $75 an hour, you can make quite a nice living while helping people in your community. It’s a simple business to start and can be quite gratifying. 

You’re off to a great start having learned about the entrepreneurial process, so now you’re ready to get your personal concierge business up and running!

• Personal Concierge Business FAQs

A personal concierge business can be very profitable, bringing in up to $125 an hour. The key is to offer outstanding services to clients, who may then give you referrals.

A luxury concierge provides personalized and high-end services to affluent clients. They assist with various tasks, such as making travel arrangements, securing reservations at exclusive restaurants, organizing special events, procuring luxury goods, and providing general lifestyle management.

A private concierge offers personalized assistance and support to individual clients. They cater to their specific needs and preferences, managing tasks like running errands, booking appointments, arranging transportation, handling household management, and providing personal assistance.

To become a concierge, essential skills include excellent communication and interpersonal abilities to interact with clients effectively. Strong organizational and time management skills are crucial for multitasking and handling various requests efficiently.

To differentiate your personal concierge business from competitors, focus on providing exceptional customer service and building strong relationships with clients. Tailor your services to specific niche markets or specialized needs, such as corporate concierge services or luxury travel planning. 

A personal concierge business can provide a wide range of services based on client preferences. This can include travel planning, hotel and restaurant reservations, event and party coordination, personal shopping, home organization, appointment scheduling, transportation arrangements, pet care, and household management. 

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• Decide if the Business Is Right for You
• Hone Your Idea
• Brainstorm a Business Name
• Create a Business Plan
• Register Your Business
• Register for Taxes
• Fund your Business 
• Apply for Licenses/Permits
• Open a Business Bank Account
• Get Business Insurance
• Prepare to Launch
• Build Your Team
• Start Making Money!

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Sample Concierge Service Business Plan

Personal concierge business plan sample.

What is a concierge business? How much do you charge personal concierge? What is a concierge service? The concierge services industry is well regarded for providing customers with on-demand services. The major target market of this line of business includes individuals, employees, business executives, etc.

If you are an entrepreneur who wants to venture into this business, by now you must have fulfilled all the necessary requirements for starting this business. Continue reading this article to find out how you will be able to write a good and simple business plan for your concierge business.

Here is a sample business plan for starting a concierge service business.

BUSINESS NAME:  Prime Royal Concierge Services, LLC.

• Executive Summary
• Our Products and Services
• Vision Statement
• Mission Statement
• Business Structure
• Market Analysis
• Sales and Marketing Strategy
• Financial Plan
• Sales Forecast

EXECUTIVE SUMMARY

Prime Royal Concierge Services, LLC is a fully registered and licensed concierge business which is set to be established in Louisiana, United States. The business will be offering a number of its services to customers all around the United Sates.

Prime Royal Concierge Services, LLC will be owned and managed by Wilson Morrison and his long time business associate and friend, Nelson Murray. Their experience would be of immense benefit to the business.

Having carried out a thorough feasibility study, we have come up with a total of $300,000 as the total startup cost which will be sourced from the owners solely.

OUR PRODUCTS AND SERVICES

Starting up Prime Royal Concierge Services, LLC has always been our dream. We are very keen in offering the very best services to our esteemed customers; this is why we will work very hard to make sure we provide quality products and services.

Below is a list of the services we will be providing our customers:

• Arranging travel, tours and hotel reservation
• Shopping, including grocery
• Arranging for spa services
• Offering courier functions
• Providing home management services
• Offering party and event planning
• Making arrangements for dining and entertainment
• Providing other tasks which are related to business trip (such as booking transportation, airplanes, etc) and making recommendations for night life hot spots, etc.

VISION STATEMENT

Our business vision is simply to establish a business which will be a standard and renowned concierge services company, providing its services to not just customers in Louisiana, United States, but in all of the various cities in the United States.

MISSION STATEMENT

We have a mission in our concierge business: It is to provide the very best concierge services to our various customers, ranging from individuals, companies, to corporate organizations. We want to be focused on helping them achieve their personal and business goals. Also, we want to make sure our concierge business is built to be able to compete very well with the top businesses in the industry all over the United States.

BUSINESS STRUCTURE

We understand that all businesses require a very strong business foundation or structure to be able to fully succeed. It is for this reason that we will make sure to hire employees who are qualified, hardworking, competent, creative, and ready to share our business vision.

Also, we will make sure to include profit-sharing in our business arrangement. Only employees in our senior management team who have maintained good performance for a minimum period of five years will be eligible for this arrangement. Below are the positions we will be offering in our business organization:

• Chief Executive Officer
• Human Resources and Admin Manager
• Operation Manager
• Sales and Marketing Executive
• Business Concierge Service Providers
• Client Service Executive

MARKET ANALYSIS Market Trend

One truth about this business is that the business is a very interesting service related one which any entrepreneur can key into. The reason is because the business is such that allows operators to be able to handle clients’ personal and professional matters such as taking care of their shopping, travel arrangements, dry cleaning needs, etc.

Target Market

The following are the various groups which will make up the target market for our concierge services business:

• Busy business people
• Busy top corporate executives
• Financial institutions such as Banks, Insurance Companies, etc
• Tourists and regular travellers
• Corporate Organizations
• Blue Chips Companies
• Manufacturers and Distributors
• Research and Development Companies
• Manufactures and Distributors
• Entrepreneurs and Startups
• Owners, Developers, and contractors of real estate.

SALES AND MARKETING STRATEGY

We are already familiar with the industry, and we know how stiff the competition in the industry is. This is why we have put in place several sales and marketing strategies which will help us tackle the competition head-on. Before we arrived at these strategies, we however, first made contact with sales and marketing experts. Below are the various strategies which will help us promote our business successfully to our target market:

• We will make introductions of our business to our various target markets by sending introductory letters and emails, together with our business brochure to households, corporate organizations, etc.
• We will be very quick in our bidding for concierge service contracts from both government and non-government contracts.
• We will make sure to list our business in local directories.
• We will make sure to promote our business by advertising in newspapers, relevant business magazines, radio and TV station, etc.
• We will also ensure to always stay active in the business by keeping up-to-date through seminars, local expos, business fairs, etc.
• We will make sure to seize the online world by making sure to advertise our business on social media such Facebook, Instagram, and Twitter.

FINANCIAL PLAN Source of Startup Budget

From our thorough research and feasibility studies, we have been able to come up with a total of $300,000 as the needed startup capital for our concierge business. This capital will be sourced solely from the owners, Wilson Morrison and his long time business associate and friend, Nelson Murray. Both of them will each contribute half of the startup capital to make up the full amount.

SALES FORECAST

Below is a sales projection for Prime Royal Concierge Services, LLC for the following three years after startup. This sales projection is based on proper research on available data in the industry, and it is only a projection which should provide us with a guide in the first three years.

First Fiscal Year                    $150,000 Second Fiscal Year                $250,000 Third Fiscal Year                   $500,000

Above is a concierge service business plan sample which has made use of the business name ‘Prime Royal Concierge Services, LLC’. This concierge service business will be located in Louisiana, United States.

Prime Royal Concierge Services, LLC will be focused on offering its services to its clients in the whole of the United States, and it will be jointly owned by Wilson Morrison and his long time business associate and friend, Nelson Murray.

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How to write a business plan for your luxury concierge service.

A luxury concierge service is a great idea because it provides a convenient and personalized way for customers to access high-quality services.

It also offers a unique opportunity for businesses to differentiate themselves from the competition and increase customer satisfaction.

But, before launching anything, make sure you have a business plan in place.

A business plan is an essential tool for any new project, and a luxury concierge service is no exception. It allows you to define your goals, strategies, and resources to ensure the success of your venture.

In short, a thorough business plan will help make sure your luxury concierge service is profitable .

What should be included in the business plan of a luxury concierge service? How do you organize the structure? What financial numbers should be included? How to build a solid business plan without spending too much time?

This article will address and answer all these questions.

Also, please note that starting your business plan from scratch is optional.

Feel free to download our detailed business plan for a luxury concierge service and tailor it to suit your project.

Crafting a business plan for a luxury concierge service

Is a business plan recommended for your luxury concierge service.

Yes, you should create a business plan for your luxury concierge service.

Drafting a viable business plan will help to:

• gain knowledge of the luxury concierge market
• be aware of new trends and incorporate them into your project
• narrow down success factors for a luxury concierge service
• understand the personalized service requests and preferences of high-end clientele
• come up with a unique value proposition for your high-end personal concierge service
• investigate competitive differentiation
• find competitive advantages for your luxury concierge service
• find a business model that will result in financial success
• implement a robust and tactical action plan
• evaluate risks associated with running a luxury concierge service, including client confidentiality, security protocols, and vendor relationships

Our team has created a business plan for a luxury concierge service that is designed to make it easier for you to achieve all the elements listed.

How to structure a business plan for a luxury concierge service?

A carefully prepared business plan offers a complete package of content, metrics, and financial information. It must be arranged in a manner that is easy to read and understand.

When we designed our business plan for a luxury concierge service , we made sure to outline it properly.

We've organized it into 5 distinct sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The introductory section has been named "Market Opportunity".

This section presents a comprehensive report on the luxury concierge service, including key data and metrics to guide your decision-making in this market.

The data here is always up to date; we update it biannually.

2. Project Presentation

In the "Project" section, you can present your luxury concierge service, explaining the personalized assistance and experiences you offer to affluent clients. You can detail your range of services, such as travel arrangements, event planning, reservations, and exclusive access, highlighting your network of high-end partners and the unique value proposition that caters to discerning clientele.

Also include a short description about yourself at the end of this section.

Explain your passion for providing personalized service, your understanding of luxury experiences, and how you plan to create unforgettable moments for clients through your luxury concierge service. Highlight your attention to detail, your network of exclusive partnerships, and your dedication to curating exceptional experiences and fulfilling the unique desires and preferences of your discerning clients.

We wrote some text in our business plan. Adapt it to fit your idea exactly.

3. Market Research

Then, there is the "Market Research" section.

In this section, you will find a detailed market segmentation analysis for your luxury concierge service.

It includes a presentation of other luxury concierge services in the industry that will be competing with you. Your service's personalized assistance and competitive advantages are also highlighted. A customized SWOT analysis is included.

4. Strategy

The "Strategy" section outlines a comprehensive 3-year action plan, detailing the initiatives and steps needed to transform your luxury concierge service into a highly profitable endeavor.

Additionally, there is a marketing strategy, a strategy to manage risks, and a Business Model Canvas provided in this section.

5. Finances

Ultimately, the "Finances" section is where you can present a detailed financial plan for your project.

How to write the Executive Summary for a luxury concierge service?

The Executive Summary is like an introduction to the business plan for your luxury concierge service.

Make it concise and limited to 2 pages. Include only the vital information.

The intention behind this document is to make the reader enthusiastic about your business plan.

In the Executive Summary of your luxury concierge service, address the following queries: what services does your luxury concierge service provide? who is your target audience? are there other luxury concierge services in the market? what is your budget?

How to do the market analysis for a luxury concierge service?

The market study of your luxury concierge service helps you understand external factors such as client demands for personalized experiences, competition within the luxury service industry, and emerging trends in high-end hospitality.

By conducting an extensive market analysis, a luxury concierge service can understand the needs of affluent clients, offer personalized and exclusive concierge services, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a loyal client base, increased bookings, and a prominent position in the luxury service industry.

Here is what what we've put in the "Market Research" section of our business plan for a luxury concierge service :

• recent data and statistics about luxury concierge services, including personalized travel experiences, exclusive event access, and high-end service trends
• a list of potential audiences for a luxury concierge service
• the competitor study
• the possible competitive advantages for a luxury concierge service

The key points of the business plan for a luxury concierge service

What's the business model of a luxury concierge service, business model of a luxury concierge service.

A luxury concierge service's business model revolves around providing personalized and exclusive concierge services to affluent individuals or businesses. Revenue is generated through membership fees, service fees, or commissions from partner service providers.

The business model focuses on understanding client preferences and needs, offering bespoke concierge solutions, creating exceptional experiences, effective marketing to target high-net-worth individuals or businesses, and building strong client relationships based on trust and discretion.

Success depends on a network of high-quality service providers, delivering impeccable service and attention to detail, maintaining client confidentiality and privacy, fostering positive client relationships, and continuously exceeding expectations by anticipating and fulfilling client desires and aspirations.

Business model vs Business plan

It's important not to mistake "business plan" for "business model."

A business model describes how a company generates income and operates successfully.

In a business plan, you depict your business model by utilizing the Business Model Canvas tool.

Rest assured, there is a Business Model Canvas (already completed) in our business plan for a luxury concierge service .

How do you identify the market segments of a luxury concierge service?

Market segmentation for your luxury concierge service involves dividing your potential customers into different groups based on their lifestyle, preferences, and needs for personalized assistance and experiences.

These categories may include factors such as travel concierge, event planning, VIP services, or customers seeking specific luxury experiences (e.g., private yacht charters, exclusive access to events).

By segmenting your market, you can offer a range of luxury concierge services that cater to each segment's specific requirements. For example, you might provide travel concierge services, offering personalized travel itineraries, reservations, and exclusive experiences for high-net-worth individuals and luxury travelers, offer event planning and coordination services for clients organizing high-end corporate or social events, provide VIP services such as personal shopping, luxury transportation, or access to exclusive clubs and venues, or specialize in arranging unique luxury experiences such as private yacht charters, helicopter tours, or curated gastronomic adventures.

Market segmentation allows you to effectively target your marketing efforts, understand the preferences and desires of each customer segment, and provide a seamless and exceptional luxury concierge experience that exceeds their expectations.

In the business plan for a luxury concierge service , you will get a detailed market segmentation, helping you understand your target audiences and their needs.

How to conduct a competitor analysis for a luxury concierge service?

It's clear that you won't be the only luxury concierge service in the industry. There are other companies providing personalized and exclusive concierge services to affluent clients.

It is vital to study your competitors' strengths and weaknesses in detail when constructing your business plan.

Be mindful of their weaknesses (such as slow response times, lack of personalization, or inadequate vendor relationships).

Why is it important to address these issues? Because these weaknesses can hinder the premium experience offered by luxury concierge services.

By focusing on these areas, you can provide personalized and attentive assistance, offer exclusive access to experiences and amenities, and maintain the utmost discretion and confidentiality, establishing your luxury concierge service as a sought-after provider of bespoke and exceptional service.

It's what we call competitive advantages—strengthening them helps your business stand out from the rest.

Here are some examples of competitive advantages for a luxury concierge service: personalized and tailored services, exclusive access to events and experiences, 24/7 availability, expert knowledge of luxury destinations, exceptional attention to detail, trusted and discreet service.

How to draft a SWOT analysis for a luxury concierge company?

A SWOT analysis can help identify strengths, weaknesses, opportunities, and threats to the success of a luxury concierge service.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a luxury concierge service

The strengths for a luxury concierge service

S stands for Strengths in SWOT, highlighting the project's areas or aspects of advantage.

For a luxury concierge service, possible strengths include access to exclusive services, personalized customer service, a wide range of services offered, and knowledge of luxury amenities.

The weaknesses for a luxury concierge service

W represents Weaknesses, highlighting the areas or aspects of the project that require refinement.

For a luxury concierge service, potential weaknesses could include lack of resources, limited customer base, lack of technological infrastructure, and high overhead costs.

The opportunities for a luxury concierge service

When we use the "O" in SWOT, we're referring to Opportunities, which are the external prospects or favorable conditions that can enhance the project.

In the case of a luxury concierge service, potential opportunities include arranging private jet charters, booking exclusive luxury travel accommodations, providing access to VIP events, and arranging private chef services.

The threats for a luxury concierge service

T stands for Threats in SWOT, indicating the external factors that can undermine the project's performance or viability.

How to elaborate a marketing strategy for a luxury concierge company?

A marketing strategy in your business plan is crucial for attracting customers and driving sales.

As a luxury concierge service, a good marketing strategy will help you target the right type of customers who might need some assistance for luxury services.

Clients won't automatically opt for your luxury concierge service; you need to establish a reputation for exclusivity and impeccable service.

Have you explored marketing techniques to promote your luxury concierge service? Consider targeting high-end hotels and resorts, partnering with luxury brands for cross-promotion, and leveraging social media platforms to showcase the exclusive experiences and personalized services you offer.

No need to stress if you have no clue about marketing and communication – it's not a problem.

How to make financial projections for a luxury concierge company?

A successful business plan must include detailed financial information, such as income and expense projections, cash flow statements, and a break-even analysis.

When developing your business plan, you'll need to estimate the projected revenue for your luxury concierge service.

It is essential to have a revenue forecast that is both relevant and credible so that your business plan impresses banks or investors.

Our financial plan for a luxury concierge service is easy to use and includes built-in checks to help you identify and correct any assumptions, ensuring you create reliable projections with confidence.

Naturally, you'll have to prepare an initial budget for your luxury concierge service. Make certain to include all expenses without exception - you can find them all listed in our financial plan!

The break-even analysis is also central in your financial plan as it indicates you whether your luxury concierge service will become a profitable company or not.

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Senior Service Business

The Best Home-Based Senior Service Businesses You Can Start On A Shoestring

How To Start A Senior Concierge Business in 10 Easy Steps

By Craig Wallin

Step 1. Choose services to offer.

Making a list of the services you plan to offer is an essential first step, so you need to think about what may be needed and what is in demand in your area. Some folks specialize in running errands, others enjoy household management, and others love to do grocery shopping, care for pets, provide escort services or help seniors with computer challenges. There are over twenty in-demand, popular services that a senior concierge can provide. Ask other senior care providers what services are most needed in your town. When you’re done, make up a list that can be a part of your flyer or brochure, or an advertisement on Craigslist or on a website. It’s a good idea to add this at the end of the list: “If you don’t see a service you need – just call and ask if we offer it.” This allows you to make sure you are meeting the needs of all your prospective clients, as you’re bound to miss a few in-demand services when you make up that list.

Step 2. Name your business.

Now you’re ready to name your senior concierge business. Think of something catchy and memorable. Examples include: “At Your Service,” “One Call Does It All,” and “On The Run For You.” Pick a name that is easy to spell and remember, and consider adding the name of your town, or even your own name, in the business name. Ask for feedback from friends and family. Do they like it? Check with your state officials to make sure no one else is using your name, and that it hasn’t been registered or trademarked already.

Step 3. Don’t spend money!

Resist the urge to spend money when you’re starting your business. Ask yourself “Do I really need this?” before you buy anything. If you have a reliable vehicle and a cellphone, you’ve already got the essentials you need. Keep your office at home to avoid spending money on rent, utilities and other costs for a separate office. Think and act like a miser until your business income is steady and solid.

Step 4. Legal structure.

When you start an senior concierge business, it’s important to pick the right legal structure for the new business. Most concierge businesses operate as a sole proprietor or as an L.L. C. You’ll find lots of free advice about the picking the right option for you at Nolo.com. Whatever you decide, get this pinned down first, before you apply for a business license, or get a federal tax number.

Step 5. Insurance.

The right coverage is essential for protection in case of a lawsuit or claim. Talk to a local independent insurance agent to find out what is required in your state for a concierge business.

Step 6. Set your rates.

Many new senior concierges make the mistake of not charging enough to cover all their costs, as they haven’t been in business long enough to be aware of all the little costs, like licenses, bookkeeping fees, social security taxes, vehicle maintenance or insurance, all of which can add up over time. A good rule of thumb is to add about 30-35% to the wages you’ll be paying yourself, to arrive at a reasonable rate that allows you a profit and still makes your clients happy. National rates vary from around $20 an hour in small towns and rural areas to as much as $50 an hour in big cities.

Step 7. Finding customers.

After you’ve set up your business and listed the services you plan to offer, start looking for customers. You’ll only need a few good ones. Local senior service providers are often a good source of referrals. Those include senior care providers in assisted living communities and nursing homes, elder law attorneys, and those who work and volunteer at the local senior center.You can run a free ad on Craigslist to find new clients, as well as advertise in local Over-55 community newsletters. You should also put up a flyer or leave a few brochures at the senior center.

As soon as possible, set up a simple website, because many computer-savvy seniors, as well as the adult children of seniors, now regularly use the internet to find service providers.

Step 7. Referrals.

Once you have your first few clients and have treated them well for a while, ask them for referrals. Tell them you’re still growing your business, and could use a few more good clients like them. Offer a reward, like two free grocery shopping trips, in return for a referral that becomes a regular client.

Step 8. Provide exceptional service.

If you take care of your senior clients, they will tell others and you’ll never have to advertise again. Always try to practice the Golden Rule and treat your clients they way you would want to be cared for if you were in their shoes.

Step 9. Stay organized and save money.

There are several online programs that help you keep up with your business bookkeeping and your job schedule. My favorite, which makes keeping track of your small business finances easy, even if you can’t add or subtract, is Outright.com, now part of GoDaddy. The cost is way below what you would pay a bookkeeper, around $12 a month, and it has a built-in scheduling feature that can track your work hours and prepare an invoice for a client. . It even reminds you when taxes are due, or when you miss a deduction, like the 55 cents per mile for business mileage.

Step 10. As Michael Jordan says, “Just Do It!”

Related posts:

• How To Get Your First Paying Client For a Senior Concierge Service Business
• Frequently Asked Questions About Starting A Senior Concierge Business
• How To Make $224 A Day With A Senior Concierge Business
• Is A Senior Service Business Right For You?

Concierge Medicine Business Plan [Sample Template]

By: Author Tony Martins Ajaero

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Are you about starting a concierge medicine practice? If YES, here is a complete sample concierge medicine business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting a concierge medicine company. We also took it further by analyzing and drafting a sample concierge medicine marketing plan template backed up by actionable guerrilla marketing ideas for concierge medicine companies. So let’s proceed to the business planning section .

One business in the healthcare industry that has become trendy in recent times is the concierge medicine business. It is a business where the doctors do everything from teaching healthy eating courses to grocery shopping with patients under their care.

Doctors also go on walks with their patients and work with them extensively on things like hypertension and diabetes wellness plans.

Concierge medical practice is a medical practice that gives room for a unique relationship between a patient and a doctor (primary care physician) in which the patient pays an annual fee or what is known as retainership, hence concierge medical practice or concierge medicine can also be called retainer medicine.

This retainer fees may or may not be in addition to other charges depending on the doctor. In the united states, patients pay an annual or monthly fee which often totals to about $1,200 to $5,000 per year.

It is important to state that when starting a medical related business, it is advisable to first look at the existing laws in the country or the state you reside. This is so because there is hardly any country that does not pay serious attention on their health sector.

The health industry is usually highly regulated so as to guard against the infiltration of quacks or substandard medical clinics, hospitals or health facilities.

In a nutshell, if you think that the concierge medical practice business is one area you want to delve into, you may need to pay a visit to the health and medical regulatory body in your country to get all the required information before you can legally start your own concierge medical practice business in your city.

So, if you have decided to start your own concierge medical practice business, then you should ensure that you carry out thorough feasibility studies and market survey. Business plan is yet another very important business document that you should not take for granted when launching your own concierge medical practice business.

Below is a sample concierge medicine business plan template that can help you to successfully write your own with little or no difficulty.                                                                                               

A Sample Concierge Medicine Business Plan Template

1. industry overview.

Concierge medical practice business is classified under the Business Concierge Services industry and players in the industry are known for providing on-demand services for clients that range from business executives to employees and individuals.

Players in this industry offer a wide variety of services such as medical practice, running errands, conducting grocery and personal shopping, making travel and restaurant reservations, home management services et al. The services may be provided in-person or remotely via telecommunications.

Please note that a Medical Concierge does not provide medical advice, does not answer questions related to diagnosis, medication or hospital stay.

For instance, in hotels or resorts, a concierge company assists guests by performing various tasks such as making restaurant reservations, booking hotels, arranging for spa services, recommending night life hot spots, booking transportation, coordinating porter service (luggage assistance request), procuring tickets to special events, and assisting with various travel arrangements and tours of local attractions.

Concierge also assists with sending and receiving parcels. In hospitals, concierge services are becoming increasingly available. A hospital concierge provides services similar to those of a hotel concierge, but serves patients and employees as well.

There are loads of independent personal concierge service companies that provide errand and information services for their clients. They are known to provide services such as information requests, setting dinner reservations, making telephone calls, researching travel arrangements and other related services.

Usually, concierge service companies bill hourly, and depending on the type of task, service charges can fluctuate drastically. Other companies bill a flat monthly fee based on the number of requests a client is allowed to place each month.

For instance, in the united kingdom, since the year 2000 and as of 2010, concierge services have become a key marketing and loyalty tool in the banking sector and offered as a benefit on luxury credit cards and entertainment. This type of service offering is also known as lifestyle management.

The Business Concierge Services industry that concierge medical practice is part of is indeed a growing industry and pretty much active in the United States, United Kingdom and other developed countries.

Statistics has it that in the United States of America alone, there are about 790 registered companies in this industry, employing about 2,828 and the industry rakes in a whooping sum of $271 million annually. The industry is projected to continue to grow at a 2.6 percent rate. It is important to state that there are no companies with a dominant market share in the industry.

There are loads of players in this industry because the entry barriers for the Business Concierge Services industry are low.

As a matter of fact, the required startup costs for new organization can be as low as the cost of acquiring a laptop and internet device and they can successfully swing into full – time operations without the need of employees, significant capital expenses or even an office facility.

If you are considering starting your own concierge medical practice in the United States, then you should try and work around the industry barriers. As a matter of fact, it is absolutely compulsory for any investor who is looking towards starting a concierge medical practice business to meet extensive federal, state and local laws and regulations.

These regulations relate to the adequacy of medical care, equipment, personnel, operating policies and procedures. Regulations also involve maintaining adequate records and complying with best practices in the healthcare and medical industry.

Some of the factors that encourage entrepreneurs to start their own concierge medical practice is that the business is one of the easiest business to start in the healthcare and medical industry , it is a profitable business and it is a business that can be started with minimal startup capital and employees.

The concierge medicine business is very open to any aspiring entrepreneur who has the required skills and qualifications. As a matter of fact, it was projected that over the next five years, new technology will continue to emerge that will make it easier for more players to come into the industry hence increasing the competition in the industry.

2. Executive Summary

Medix-Plus™ Concierge Services, LLC is a registered and standard concierge medicine services company. The business will be based in Olympia – Washington, United States of America, but will operate all over the United States.

We have been able to secure a standard office facility in a busy business district in Olympia where we intend coordinating all our medical concierge activities from. We are a medicine concierge service company that is set to compete in the highly competitive Business Concierge Services industry in the United States.

Medix-Plus™ Concierge Services, LLC will be involved in services such as gathering data relevant to our patient Admission, Discharge, Diagnosis, Insurance, Socioeconomic needs and barriers to care, responding to Case Manager Notification that a patient needs a Primary Care Provider so an appointment can be made at the time of discharge.

Notifications include email, fax or telephone calls made to the Medical Concierge, working with our clients to ensure that they meet their health goals such as eating right, exercising right, and even arranging travel and hotel reservation, arranging for spa services, shopping, providing courier functions and providing home management services.

Our business goal is to become one of the leading concierge medical services companies in the United States and we will make sure that every patient we work with get value for their money and time.

Our workers are going to be selected from a pool of talented and highly creative professionals with various skills as it relates to the services we offer in and around Olympia – Washington and also from any part of the United States of America.

We will make sure that we take all our workers through the required training that will position them to meet the expectation of the company and to compete favorably with leading concierge medical services companies in the United States.

At Medix-Plus™ Concierge Services, LLC, our client’s best interest comes first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Medix-Plus™ Concierge Services, LLC is founded by Dr. Jared Davidson and his friend and business partner for many years, Ken Bradford. They have a combined qualification and experience that will position them to perform excellently well in the concierge medicine line of business.

Both of them are proud members of International Concierge and Lifestyle Management Association (ICLMA) and the National Concierge Association.

3. Our Products and Services

Medix-Plus™ Concierge Services, LLC is established with the aim of maximizing profits in the concierge medicine practice business.

We want to compete favorably with leading concierge medical practice services companies in the United States which is why we have put in place a competent quality assurance team that will ensure that all our services meet international best practices and even surpass our customers’ expectations.

We will work hard to ensure that Medix-Plus™ Concierge Services, LLC is not just accepted in Olympia – Washington, but also throughout the United States of America. Our service offerings would include;

• Gathering Data Relevant to our patient’s Admission, Discharge, Diagnosis, Insurance, Socioeconomic needs and barriers to care.
• Responding to Case Manager notification that a patient needs a Primary Care Provider so an appointment can be made at the time of discharge.
• Work with our clients to ensure that the meet their health goals, eat right and exercise right
• Arranging travel, tours and hotel reservation
• Arranging for spa services
• Providing courier functions
• Providing home management services

4. Our Mission and Vision Statement

• Our vision is to establish a standard concierge medicine services company whose services and brand will not only be accepted in Olympia – Washington, but also throughout the United States of America.
• Our mission is to provide professional and highly creative concierge medicine services that will assist our patients in achieving their health and personal goals. We want to build a concierge medicine services company that can favorably compete with other leading brands in the industry.

Our Business Structure

Medix-Plus™ Concierge Services, LLC, is a concierge medicine services company that will be launched in Olympia, but hope to grow big and secure outsourced jobs from big healthcare corporations and top corporate executives from all over the United States of America.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.

At Medix-Plus™ Concierge Services, LLC, we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer
• Operation Manager
• Human Resources and Admin Manager
• Sales and Marketing Executive
• Concierge Medicine Physician/Concierge Medicine Service Providers

Client Service Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Accountable for providing direction for the business
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization

Operation Manager:

• Serve as project manager of the organization; works directly with employees on the field
• Develops strategic plan by studying technological, and financial opportunities; presenting assumptions; recommending objectives.
• Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
• Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
• Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
• Maintains quality service by establishing and enforcing organization standards.
• Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
• Ensures that the organization works in line with international best practices.

Admin and HR Manager

• In control of overseeing the smooth running of HR and administrative tasks for the organization
• Design job descriptions to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily office activities.

Sales and Marketing Manager

• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyze the volumes of transactional data generated by customer
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
• Responsible for handling business research, market surveys and feasibility studies for clients
• In charge of supervising implementation, advocate for the customer’s needs, and communicate with clients
• Create new markets cum businesses for the organization
• Empower and motivates the sales team to meet and surpass agreed targets

Accountant/Cashier:

• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies.
• Responsible for administering payrolls.
• Ensures compliance with taxation legislation.
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Concierge Medicine Physician/Concierge Medicine Services Providers

• Gathers Data Relevant to our patient Admission, Discharge, Diagnosis, Insurance, Socioeconomic needs and barriers to care.
• Responds to Case Manager Notification that a patient needs a Primary Care Provider.
• Assist requesting parties in researching and determining Primary Care Physician for patients who reside in Skilled Nursing Facilities or other Institutions.
• Confirms Patients preferred Pharmacy
• Confirms Caretaker, Spouse or identifies who is helping the patient at home
• Schedules appointments with accurate patient information, providing detail of the reason for the visit and Discharge Information that may be needed for the follow up visit
• Confirms the patient has received their medications or DME after discharge
• Verifies means for Transportation to follow up appointments
• Verifies with other providers that the patient is an active patient, last date seen and any other information that is needed from the outside provider to assist the patient
• Confirms appointment schedule and follow-up of missed appointments
• Welcomes clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the chief executive office in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

6. SWOT Analysis

Medix-Plus™ Concierge Services, LLC engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured concierge medicine services business that can favorably compete in the highly competitive Business Concierge Services industry in the United States.

Part of what the business consultant did was to work with the management of our organization in conducting a SWOT analysis for Medix-Plus™ Concierge Services, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Medix-Plus™ Concierge Services, LLC;

Our core strength lies in the power of our team; our field staff and back office workforce. We have a team of creative and highly proficient people with excellent qualifications and experience in various niche areas in the concierge medicine services line of business. Aside from the synergy that exists in our carefully selected field staff and back office staff, our services will be guided by international best practices in the industry.

As a new concierge medicine services company, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the fast growing and highly competitive market of concierge medicine services providers; that is perhaps our major weakness. Another weakness is that we may not have the required cash to promote our business the way we would want to.

• Opportunities:

No doubt, the opportunities in the concierge medicine business is massive considering the number of individuals and families who would prefer customized services especially as it relates to their health and those who would want to achieve work-life balance. As a concierge medicine services company, we are ready to take advantage of any opportunity that is available in the industry.

Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated so that plans can be put in place to cushion their effects.

Some of the threats that we are likely going to face as a concierge medicine service company operating in the United States are unfavorable government policies , the arrival of a competitor within our location of operation and global economic downturn which usually affects spending/purchasing power. There is hardly anything we could do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

Concierge medical practice is rapidly gaining ground and becoming trendier in the United States and in most developed countries of the world. This is so because people with financial means would always want exclusiveness in all aspects of their lives. Concierge medicine services is a win – win for both the doctors who sign up and the patients who subscribe to the services.

The fact that the Business Concierge Services industry is a service-based industry makes it easier to set up. While products may include monthly or yearly subscriptions, mobile apps and online memberships, players in the industry thrive on the scope and niche of services they offer. Concierge services vary widely depending on the size of the concierge company, their location and price.

As a matter of fact, it was projected that over the next five years, new technology will continue to emerge that will make it easier for more players to come into the concierge medicine services business hence increasing the competition in the industry.

8. Our Target Market

Before starting our concierge medical services company, we are certain that there is a wide range of clients who cannot successfully manage their health or lifestyle without outsourcing some of their operations to a third-party service provider.

In view of that, we have created strategies that will enable us reach out to various corporate organizations, families and individuals who we know can’t afford to do without our services. We have conducted our market research and survey and we will ensure that the services we offer well accepted in the market place.

Below is a list of the people and organizations that we will specifically market our products and services to;

• Doctors/Physicians

Our Competitive Advantage

The competition in the Business Concierge Services industry is getting stiffer by the day, so you have to be highly creative in order to survive in the industry. The concierge medicine services line of business is indeed very prolific and at the same time highly competitive. Clients will only hire your services if they know that they can get nothing but the best from you.

We are quite aware that to be highly competitive in the concierge medicine services business, you are not only expected to be able to deliver consistent and highly creative services that will take of stress from your clients, but you must be able to meet set targets.

Our competitive advantage lies in the power of our team and management. We have a team of creative and highly proficient concierge medicine service providers in various niche areas in the concierge medicine services line of business, a team with excellent qualifications and experience. Aside from the synergy that exists in our carefully selected workforce, our fees and services will be guided by international best practices in the industry.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Medix-Plus™ Concierge Services, LLC is established with the aim of maximizing profits in the concierge medicine line of business and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.

Medix-Plus™ Concierge Services, LLC will generate income by offering the following services;

• Gathering Data Relevant to our patient Admission, Discharge, Diagnosis, Insurance, Socioeconomic needs and barriers to care
• Responding to Case Manager Notification that a patient needs a Primary Care Provider
• Working with our clients to ensure that the meet their health goals, eat right and exercise right
• Shopping (conducting grocery and personal shopping)

10. Sales Forecast

One thing is certain, there would always be families and individuals who would need the services of concierge medicine services companies.

We are well positioned to take on the available market in the concierge medicine services business and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six month of operations and grow our concierge medicine services company to enviable heights.

We have been able to critically examine the concierge medicine market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to similar startups.

• First Fiscal Year: $240,000
• Second Fiscal Year: $500,000
• Third Fiscal Year: $950,000

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and arrival of a competitor offering similar concierge medicine services like us. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there is stiff competition in the Business Concierge Services industry, hence we have been able to hire some of the best marketing experts to handle our sales and marketing.

Our sales and marketing team will be recruited based on their vast experience in the concierge medicine line of business and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of Medix-Plus™ Concierge Services, LLC.

Our goal is to grow Medix-Plus™ Concierge Services, LLC to become one of the top 10 concierge medicine service providers in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the United States of America but also in other parts of the world.

Medix-Plus™ Concierge Services, LLC is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our concierge medicine services company by sending introductory letters/emails alongside our brochure to doctors/physicians, corporate organizations, households and key stakeholders in and around Olympia – Washington
• Advertise our business in relevant business magazines, newspapers, TV and radio stations
• List our business on yellow pages ads (local directories)
• Attend relevant international and local expos, seminars, and business fairs et al
• Create different packages for different category of clients in order to work with their budgets and still deliver excellent services
• Leverage on the internet to promote our business
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We have been able to work with our in – house brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the hearts of our target market. We are set to become the number one choice for both corporate and individual clients in the whole of the United States and beyond which is why we have made provisions for effective publicity of our concierge medicine services company.

Below are the platforms we intend to leverage on to promote and advertise Medix-Plus™ Concierge Services, LLC;

• Place adverts on both print (newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events/programs
• Leverage on the internet and social media platforms like Instagram, Facebook, twitter, YouTube, Google + et al to promote our services
• Install our billboards in strategic locations all around Olympia – Washington and other key cities in the United States of America
• Distribute our fliers and handbills in target areas
• Contact corporate organizations and busy corporate executives by calling them up (emailing them as well) and informing them of Medix-Plus™ Concierge Services, LLC and the services we offer
• List our concierge medicine services company in local directories/yellow pages
• Advertise our concierge medicine services company in our official website and employ strategies that will help us pull traffic to the site.
• Ensure that all our staff members wear our branded shirts and all our official vehicles are branded with our company logo

12. Our Pricing Strategy

Usually, concierge medicine services companies bill hourly and depending on the type of task, service charges can fluctuate drastically. Other companies bill a flat monthly fee based on the number of requests a member or client as the case may be is allowed to place each month.

At Medix-Plus™ Concierge Services, LLC we will adopt both the hourly billing rate and flat monthly fee. We will ensure that we keep the prices of our services below the average market rate by keeping our overhead low and by collecting payment in advance from families and groups who would hire our services. In addition, we will also offer special discounted rates to all our customers at regular intervals.

• Payment Options

The payment policy adopted by Medix-Plus™ Concierge Services, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Medix-Plus™ Concierge Services, LLC will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.

13. Startup Expenditure (Budget)

Starting a concierge medicine services business can be cost effective because you are not expected to acquire expensive machines and equipment. What you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, furnish and equip the office, pay bills, purchase relevant software apps, promote the business and obtain the appropriate business license and certifications.

These are the areas we are looking towards spending our startup capital on;

• The total fee for incorporating the business in the United States of America – $750
• The budget for basic insurance policy covers, permits and business license – $2,500
• The amount needed to acquire a suitable office facility in a business district for 6 months (Re – Construction of the facility inclusive) – $40,000
• The cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $5,000
• The cost for purchase of the required software applications (CRM software, concierge medicine software and Payroll software et al) – $10,500
• The cost of launching our official Website – $600
• Budget for paying at least three employees for 3 months plus utility bills – $10,000
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
• Miscellaneous: $1,000

Going by the report from the research and feasibility studies, we will need about $150,000 to set up a small scale but standard concierge medicine services business in the United States of America.

Generating Startup Capital for Medix-Plus™ Concierge Services, LLC  

Medix-Plus™ Concierge Services, LLC is a business that will be owned and managed by Dr. Jared Davidson and his business partner Ken Bradford. They are the financier of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.

These are the areas we intend generating our startup capital;

• Generate part of the startup capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $50,000 ( Personal savings $40,000 and soft loan from family members $10,000 ) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Medix-Plus™ Concierge Services, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer excellent concierge medicine services at a very competitive price than what is obtainable in the industry.

Medix-Plus™ Concierge Services, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Securing a small but standard office facility: Completed
• Application for business license and permit: Completed
• Purchase of all forms of Insurance for the Business: Completed
• Conducting Feasibility Studies: Completed
• Generating part of the startup capital from the founders: Completed
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of Logo for the business: Completed
• Graphic Designs and Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the needed furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
• Creating Official Website for the business: In Progress
• Creating Awareness for the business: In Progress
• Health and Safety and Fire Safety Arrangement: In Progress

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Personal Concierge Company’s Business Plan Essay

Introduction: reason/rationale, description of business, product & services, market analysis, sales & revenue, financials (5 years): pro-forma income statement & balance sheets, organization (5 years), reference list.

Living in today’s fast-paced urban environment is exciting yet challenging due to the time constraints and the numerous responsibilities that one must meet (Adler & Gordon 2013). When getting priorities straight, one may notice that a lot of issues are left unattended. Therefore, people need a person that would take care of some of their duties, and a personal concierge is a perfect solution for the identified problem.

The firm will be named as “Personal Concierge.” Although it might seem uninventive, it sums up the services in a nutshell. The organization will be located in the business area of the city. Increasing customer satisfaction rates and promoting Corporate Social Responsibility will be the primary goals of Personal Concierge. Thus, the firm will propel to the top of the market within a relatively short amount of time (Carroll 2015).

Arranging the schedule, managing personal and business correspondence, handling the paperwork, running errands, etc., make the top of the list of tasks that a personal concierge will be happy to do for their employer. However, the range of responsibilities with which one may trust a personal concierge is not restricted to the list above. A personal concierge may also engage in more complicated activities, such as the arrangement of the essential processes in which the employer engages in the workplace.

The market for a personal concierge is, in fact, blooming. According to the latest information, the industry is very young yet very promising as far as the opportunities for professional growth are concerned. The 2015 data indicates that the total market revenue made $297,000,000 in 2015 and that the current growth rates reach 4.2%, with 2,646 people being employed, and 705 businesses registered (Ibis World 2015). Therefore, there is a range of chances that a company entering the target environment can pursue.

It is expected that the organization will reach the mark of $400,000 in revenue in the next six months.

It is expected that the organization will be able to reach the net income of $3,527,878 (see Appendix A). The following annual increase in revenues will be achieved by deploying the principles of sustainable resource use in the workplace environment (Johnson et al. 2014). Reducing costs will become a possibility with the adoption of sustainability principles (Buddress 2013) (see Appendix B).

It is expected that the company will be managed with the help of a transformative leadership strategy. Furthermore, the company will be based on the principles of the Six Sigma framework as the tool for a consistent increase in service quality (Yadav & Sukhvant 2016). Therefore, it is expected that the company will be geared toward investing in the professional development of the staff in the next five years.

There is always a threat that the entrepreneurship will not survive in the global economic environment. Therefore, an exit plan should be suggested. It is recommended that a merger and an acquisition should be introduced as the tool for addressing a crisis in the target market. For instance, the IT industry can be viewed as a possible area of expansion. Offering concierge services to the companies operating in the area of IT, one will be able to attract new customers and target new types of audiences, thus, expanding further and, possibly, becoming even more popular.

Adler, H, & Gordon, S 2013, ‘An analysis of the changing roles of hotel concierges’, Journal of Tourism and Hospitality Management , vol. 1, no. 2, pp. 53-66.

Buddress, L 2013, ‘Managing supply chain sustainability and risk: keys to success’, Strategic Management , vol. 18, no. 2, pp. 3-16.

Carroll, A B 2015, ‘Corporate social responsibility: the centerpiece of competing and complementary frameworks’, Organizational Dynamics , vol. 44, no. 1, pp. 87-96.

Ibis World 2015, Business concierge services in the US: market research report . Web.

Johnson, M, Viere, T, Schaltegger, S, & Halberstadt, J 2014, ‘Application of software and web-based tools for sustainability management in small and medium-sized enterprises’, in Proceedings of the 28th EnviroInfo 2014 Conference, EnviroInfo, Oldenburg, Germany, pp. 1-7..

Yadav, A, & Sukhvant. V K 2016, ‘Quality improvement by using Six Sigma DMAIC in an industry’, International Journal of Current Engineering and Technology , vol. 1, no. 6, pp. 41-46.

Appendix B: Balance Sheet

• Chicago (A-D)
• Chicago (N-B)

IvyPanda. (2020, August 20). Personal Concierge Company's Business Plan. https://ivypanda.com/essays/personal-concierge-companys-business-plan/

"Personal Concierge Company's Business Plan." IvyPanda , 20 Aug. 2020, ivypanda.com/essays/personal-concierge-companys-business-plan/.

IvyPanda . (2020) 'Personal Concierge Company's Business Plan'. 20 August.

IvyPanda . 2020. "Personal Concierge Company's Business Plan." August 20, 2020. https://ivypanda.com/essays/personal-concierge-companys-business-plan/.

1. IvyPanda . "Personal Concierge Company's Business Plan." August 20, 2020. https://ivypanda.com/essays/personal-concierge-companys-business-plan/.

Bibliography

IvyPanda . "Personal Concierge Company's Business Plan." August 20, 2020. https://ivypanda.com/essays/personal-concierge-companys-business-plan/.

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