Attachment 1642630328
Attachment 1642630328
Attachment 1642630328
CONFIDENTIALITY AGREEMENT
The undersigned reader acknowledges that any information provided
by MINISTRY OF TRUTH in this business plan, other than
information that is in the public domain, is confidential and that any
disclosure or use of the same by the reader may cause serious harm
or damage to MINISTRY OF TRUTH. Therefore, the undersigned
agrees not to disclose it without express written permission from
________________________________.
___________________________.
___________________
Signature
___________________
Name (typed or printed)
___________________
Date
Table of Content
s
1. Executive Summary:.................................................................... 4
1.1. Company Mission:...............................................................................4
1.2. Company Vision:.................................................................................4
1.3. Services:............................................................................................5
1.4. Industry Trend:...................................................................................5
1.5. Targeted Market:................................................................................6
1.6. Competitive Advantages:.....................................................................6
1.7. Finance:.............................................................................................7
2. Company Overview:..................................................................... 8
2.1. Description of the Company:..............................................................10
2.2. Key Activities and Operations:...........................................................11
2.3. Key Team Members:..........................................................................13
2.4. SWOT Analysis for Legal App.............................................................15
1. Executive Summary:
MINISTRY OF TRUTH The ministry of truth is an application that
provides legal assistance to clients. The Application lets the users
choose from various legal services options such as consultation
services from lawyers on live chat or video call, access to various
legal documents templates at any time. The clients can access the
facilities any lace at any time according to their convenience for a
fixed subscription fee.
1.3. Services:
We have newly started this business and provide a variety of services
within the scope of legal service. The company offers a wide range of
services to its client base through the app. The product and services
include but are not limited to:
Live Chat
Frequently Asked Questions
Convenient Appointments
Video Conference
Document/files feature
A global presence
The high trade surplus in the sector is because the UK has a strong
reputation for international legal services. In 2019, for instance, over
7,000 international arbitrations, mediations, and adjudications were
submitted in the UK. Also, the country's leading law firms have a
strong presence abroad, with nearly half of their employees being
located outside of the UK. For instance, DLA Piper, the leading UK law
firm, is headquartered in London but it truly is a global law firm with
lawyers and offices in more than 40 countries around the world. The
same is true for Clifford Chance, second in the ranking of leading UK
law firms.
1.7. Finance:
Finance is one of the important elements when it comes to starting
new businesses or services. Raising capital for business is not an easy
task but every entrepreneur has to go through this. According to the
calculation, we need approx. £432,272 to start our operation. Our
company will sell its 10% share in profit to the investors who will
invest €100,000 in our company. The rest of the expenditure will
cover up from the subscription purchase. This includes app-building
costs, marketing costs, legal documentation, professional fees, and
other startup costs. The operating expense is expected to increase in
the upcoming year and thus the revenue also. The key to success in
the financial plan includes:
2. Company Overview:
Company MINISTRY OF TRUTH
Name
Company Our mission is to become a 'people first choice'
Mission company with a strong sense of responsibility. We
continually strive for ever higher standards of legal
service at comfort. Our mission is to provide the best
legal services to clients efficiently and on time within
the comfort of their homes.
Services We will soon launch this mobile app for legal activity
and will provide a variety of services within the scope of
legal service. The company offers a wide range of
services to its client through the app. The product and
services include but are not limited to:
Live Chat
Frequently Asked Questions
Convenient Appointments
Video Conference
Document/files feature
24/7/365 support
Live Chat
To ask legal questions and obtain replies from a member of our team
or utilize our Artificial Intelligence. Legal Assistant (Hugo) can
recognize the majority of typical legal questions and suggest
appropriate next steps, as well as respond to any frequently asked
legal inquiries. A tool that allows clients to get legal advice from our
well-equipped professionals through the internet.
Video Conference
Customers may use the app to schedule a one-on-one video chat with
the attorneys to address their concerns. This will be accomplished by
selecting a lawyer and scheduling an appropriate appointment for the
consumer, or by acting immediately in the case of an emergency. To
safeguard clients, employees, and other professionals, the app will
record all video calls and discussions. Clients are safeguarded by the
fact that we keep a record of our talks with you, and staff and other
employees are protected from potential abuse. We also use
recordings for employee training and quality control on occasion. The
recordings are saved on the app's system and are safeguarded by the
Document/files feature
Customers will be able to make use of the document/files feature,
where they will be able to find Legal document templates including
hundreds of editable agreements and contracts, as well as the ability
to submit and sign any papers requested by the lawyer without
having to travel to the office. Initially, there will be just ten lawyers, if
the app grows in popularity, more lawyers will be hired based on the
services that the majority of customers utilize. Customers will be able
to make use of the following services, to mention a few.
They must guarantee that the relationships are lucrative and stable.
They are also in charge of resolving any disputes that may arise
between consumers and corporations. Finally, they must keep clients
up to speed on the latest items, which will help the firm generate
sales. The firm will initially have five lawyers, as the business grows,
more lawyers will be hired according to the demand of the customers.
Finance Manager- The firm will also have a finance manager who
will be in charge of calculating the capital needed to get the business
up and running. They will decide on the capital structure and where
the excess cash will be allocated (if any). They will also be in charge
of the company's cash and financing. Successful applicants will go
through extensive training to learn about the procedures and
requirements.
Administrator
Human Resource
Manager
Marketing manager
Customer Relations
Manager
Finance Manager
Businessman
Startup owners
Judge
Lawyers
Government officials
Builders
Educational instiutes
Family court
Copyright © 2022 Ministry of Truth. All right reserved.
22
3.3. Competitors:
Some other online legal app companies also target a similar target for
their services. These companies have established a reputation and
positive service representation over the years. Some have been in the
industry before us and may be regarded as one of the leading
companies in our line of operation. Some of those companies’ names
are Lawyer 365, Ravenna, Inc, Lawyers-Online, Garner and
Hancock Solicitors.
Price S W W W W
Quality S S W S S
Selection S W W W W
Service S S S S S
Reliability S S S S S
Stability W S S S S
Expertise S S S S S
Company W S S S S
Reputatio
n
Location S S S S S
Appearanc W S S S S
e
Sales S W W W W
Method
Credit S S S S S
Policies
Advertisin S S S S S
g
Abbreviation: S = Strength
W = Weakness
* This is the only assumption; a more accurate budget will be developed as per
market trend and price.
The most common delivery method for legal services in the UK 2021
Annual Monthly
outgoings
10 lawyers 300,000 25,000
Internet 360 30
10 laptops 2,900
From the legal service company's reports and researches, Almost 50%
of respondents to the survey of small business and large business
legal needs, commissioned by the LSB, strongly agreed or agreed with
the statement that legal services providers are used as a last resort to
solve business problems. This compares with just 14% who disagreed
or strongly disagreed with the statement. It is also seen a high rise in
downloading legal apps. The “App for lawyers, law students & legal
advice” has more than 100,000 + downloads within a few timelines.
we are now able to conclude that the following will be our predicted
sales if each subscriber purchase 100 annual subscriptions, 100
purchase 3-months subscription, and 100 purchase one-month
subscription in the first year of our operation. And these trends
continue for the rest of the years.
$1,100,000.00 $1,049,970.00
$900,000.00
$700,000.00
$524,985.00
$500,000.00
$300,000.00
$104,997.00
$100,000.00
PROFIT & LOSS The year 2021 The year 2022 The year 2023
104,997.00 524,985.00 1,049,970.00
Sale of contracts
More… 0 0 0
Expenses
Registration 12 0 0
Accountant fees 0 0 0
More
Assumptions:
$900,000.00
$700,000.00
$500,000.00
$300,000.00
$100,000.00
year. The chart and table reveal a positive money flow as operations
since from the first year of operation and move on the far side the
next year and steadily continue thereafter.
Cash flow The year 2022 The year 2023 The year 2024
A/P Decreases
A/R Increases
Asset Purchases
Dividends
Total Cash Outflows 435,571 433,059 445,089
2,750,000.00
2,250,000.00
1,750,000.00
1,250,000.00
750,000.00
250,000.00
2021 2022 2023 2024 2025
Total Cash Inflow 439990 679980 1019970 1529955 2294932.5
Total Cash Outflow 435571 433059 445089 448699 464959
Cash Balance 4419 251340 826221 1907477 3737451
Sales Strategy
For the ministry of truth to achieve its intended targets and create a
successful law office that is popular with clients, the following sales
strategy will be implemented.
Some staff and professionals will get a fixed amount of salary and
some staff and professionals will get a salary based on their working
hours. Our staff will get a bonus and other incentives. Their salary will
also increase as per the current market trend and government laws.
Our staffs will get leaves and vacations as decided by the
management.
Our company will try to develop a good relationship with our workers
and staffs and always look to entertain our staffs. Staff’s kindness,
politeness, communication, emotion, and professionalism attracts
client and improve customer care services which is a very important
part of any business. We will focus to make our staff happy and
comfortable so we can get an excellent client response.