my free financial plan business plan

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My Free Financial Plan

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Business Plan

Clinton Brown

My Free Financial Plan512 N McClurg Ct #808Chicago, IL [email protected]

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I. Table of Contents

I. Table of Contents....................................................................................3

II. Executive Summary................................................................................4

III. General Company Description................................................................5

IV. Products and Services.............................................................................6

V. Marketing Plan........................................................................................9

VI. Operational Plan...................................................................................23

VII. Management and Organization.............................................................25

VIII. Startup Expenses and Capitalization....................................................28

IV. Appendices............................................................................................29

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II. Executive Summary

My Free Financial Plan will allow users to create a free financial plan that is streamlined, easy-to-use, and easy-to-understand. My Free Financial Plan will revolutionize the financial services industry. We will rely on advertising revenue and advanced financial planning services for income and growth. We will target adults who do not feel comfortable reaching out to a traditional planner or to those who would prefer to plan their finances on their own with a guide. Additionally, we will expand advanced services such as budgeting, college planning, and health planning for a fee-based price.

My Free Financial Plan will be incorporated and located in Chicago, Illinois. I, Clinton Brown, will be the owner and issuer of stock.

My Free Financial Plan has a huge opportunity to bring concise and quality financial planning to customers. We have the ability to reach millions of web users in the United States who want to plan for their financial futures. We also have the capacity to customize advertising to fit every company’s budget. My Free Financial Plan will succeed in building a brand of trust and a brand of quality. We are committed to fundamentally change how financial planning is delivered to the customer.

We are excited and honored that you have taken the time to study our business plan and we look forward to any feedback you may have.

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III. General Company Description

My Free Financial Plan will be the premier financial planning site for individuals seeking to create a workable and functional financial roadmap to achieve their dreams and goals. My Free Financial Plan will allow anyone, regardless of assets, to create a free financial plan. My Free Financial Plan will prosper via income from advertising, printing and shipping financial plans, and offering advanced services for a fee.

I will manage and run the company. My goal is to bring a streamlined and simplified approach to financial planning. There are many individuals out there who do not have enough assets to get good planning advice from planners and my site is going to benefit them by providing good advice in a concise manner for free.

Mission Statement: To give everyone the opportunity to achieve their dreams and goals through the use of the financial planning process.

Company Goals and Objectives: My Free Financial Plan has several goals to achieve within the first year of business. First, we seek to become the premier choice for individuals seeking to create a financial plan. Second, we seek to become a leader in advance financial planning technology, always moving forward to create a more efficient and streamlined approach to financial planning. Third, we seek to become active members of our community with outreach programs to help individuals learn financial literacy, especially young adults. Fourth, we seek to alter the course of the financial industry by focusing our attention on the impact we can make by helping others achieve their financial goals rather than increasing the bottom line at our customer’s expense. Fifth, we seek to become a leader in promotional advertising for our clients by being fair, honest, and appreciative of their commitment to our company.

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My Free Financial Plan has several objectives to meet within the first year of business. First, we will have created one million financial plans for our customers. Second, we will have moved to a permanent location in River North. Third, we will have 2-3 full-time employees dedicated to web design and safety, advertising and marketing, public relations and customer service, and financial and accounting practices. Fourth, we will have grossed one million dollar in advertising and revenue. Fifth, we will have created a useful grassroots following via social networking sites to attract our target market.

Business Philosophy: My Free Financial Plan has a unique business philosophy. First, we will create an open and thriving work environment by encouraging our true personalities to shine at work so that our work benefits from our natural inclinations. Second, we will create a receptive and honest approach to our clients by being straightforward and following through on our promises. Third, we will never lose focus on our mission to become the source for financial planning by reviewing our business plan every six months.

We will market our products and services to consumers and businesses. First and foremost, our goal is to provide a free financial plan to users of our website. Second, we want to provide robust and active advertising to these consumers via ads on the website. Third, we want to link the consumers and business together to benefit the consumers who trust our website and the companies who pay to have their company ads on our site. Forth, we want to provide customers with a full-sized color print out of their financial plan for a low fee. Fifth, we want to offer advanced services for high asset individuals for a low fee.

The financial services industry is a growing, but humbled industry. Due to the recent financial crisis and the mounting pressure from Congress to increase regulation on the industry, the industry is going through a transition period. However, where there is transition and turmoil there is opportunity. We feel there is a need for an online service consumers can input financial data which will then be used to create a financial plan for customers to print out. Many people use the internet to diagnose their illnesses, but there is yet a clear and concise site to diagnosis their financial health. We will take advantage of this opportunity and we

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will exploit its potential to create a solid and functional national brand called My Free Financial Plan.

My Free Financial Plan has several important strengths. First, we have the will and ability to succeed. Second, we believe there is a tremendous amount of opportunity in the marketplace to create a simplified and nonsense approach to financial planning. Third, we have an ideal that will revolutionize the financial planning industry that will drive costs down and productively up.

I’m contributing a background in financial planning and a clear vision to this company. First, I have seen first-hand the greed financial planners have to acquire clients with large dollar assets and how those with little assets get the door shut on them. Second, I firmly believe the financial planning process is just that; a process. It’s not rocket science. We have the opportunity to bring financial planning to millions with the right site and marketing. Third, I’m determined to make this business work. It’s a real shame that millions of people cannot realize their financial dreams and goals simply because financial planning was not something they learned in school or in life. We have the opportunity to change millions and millions of lives and empower people to make better financial decisions.

Legal form of ownership: My Free Financial Plan will incorporate. We will choose this form of ownership to encourage investors by issuing a specified number of shares not exceeding 49% of the company.

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IV. Products & Services

Products and Services

My Free Financial Plan will provide a free financial planning service to our customers. First, the main component of the financial plan will focus on the customer’s dreams an goals. This is the first step in identifying the exact path a customer wants to go. Second, a customer will enter a series of financial data including if they currently have a mortgage, dependents, credit cards, 401(k), IRA’s, etc. (customers will list their assets and liabilities) Third, a customer will be promoted to a series of questions about their goal. For example, if attending college is the goal the customer will select the college he/she would like to attend, what year they want to start, and how much they have saved for the goal right now. Fourth, the financial plan will be created based on the inputted information and prompt the user to either order a color copy that is bound or print the plan in PDF. Fifth, based on asset levels there could be additional steps recommended for those who qualify which would require a fee.

My Free Financial Plan has several competitive advantages as well as potential disadvantages. The advantages include a series of strong factors. First, there is a huge need for financial planning among Americans. Second, there is a huge need to have an online streamlined approach to financial planning. Third, the blog interface along with content site to create and share financial experiences is needed for individuals to trade ideas of what works and what doesn’t. There is no limit on the possibilities of financial solutions. Fourth, we are in a more frugal America with asset values decreasing and job loses mounting. We have an opportunity to help rebuild the American Dream through financial education. Fifth, we have an idea that will revolutionize the financial services industry.

Potential disadvantages include the following. First, we don’t want to create an illusion that we are not a ‘free’ service. Most of the services will be free with advertising from companies providing most of the company’s revenue. Second, we are quickly going to be competing with big name brands such as Etrade that

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already have an eAdvisor platform (however, it requires 10k minimum). We will need to be diligent and responsive to our customer’s to compete successfully with these large national brands. Third, changes in technology will either benefit us or make us obsolete. We have to be constantly looking for the next web technology opportunity. It will be imperative to the survival of the company. Fourth, we have to be keen on regulatory and legal action against the site and attacks from CFP’s and ‘experts’ in the field. The idea to provide free financial planning in a streamlined format is not going to make some in the field too happy. Fifth, we must be very diligent in providing the best internet safety to our customers. We cannot have one single hacking into our site or one misuse of information or it could lead to customers not trusting our brand.

My Free Financial Plan is a free service to everyone, but will have several sources of revenue potential. First, we will have advertising on the site from companies who will pay fees to have those ads placed. Our marketing strategy will focus on providing a flexible price structure to potential advertisers. We will eventually have a standardized fee structure, but this will take shape after a thorough review of the proper pricing procedures. Second, customers will be able to receive via the mail a bound copy of their financial plan that will include additional bonus material such as tips and tricks to keep a budget, etc. We will print the financial plan for a nominal cost and ship it to the customer. Third, we will have advanced services for our customers with higher assets. This might include a ‘test’ to see what kind of in-person financial planner would best suit the customer. Additionally, we might have a certified financial planner that works via email or telephone to answer specific questions for a fee. Fourth, we will have items for sale that will increase our brand recognition such as coffee mugs and shirts. We really want to create a grassroots community dedicated to financial well-being. Fifth, we will be open to partnering with financial advisors who are looking for new prospects. The legal framework will need to be worked out and as well how such a referral program would work, but it does present an opportunity for another revenue stream.

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V. Marketing Plan

Market research

Secondary

According to Market Research, INC headquartered in Rockville, MD.

Countries covered: United States

About 10,000 firms in the US provide financial planning and investment advice to individuals and businesses, with combined annual revenue of $15 billion. Large companies include Value Line, Morningstar, and units of financial services companies. The industry is concentrated at the top, with the eight largest firms accounting for a quarter of industry revenue, but is otherwise highly fragmented. A large local firm may have 30 employees and generate $10 million of annual revenue.

COMPETITIVE LANDSCAPE

Demand is driven by consumer income and wealth and demographics. The profitability of individual firms depends largely on effective marketing. Large companies have some advantages in providing expertise in a wider range of investment options, and may charge lower fees. Small companies can compete successfully by providing better service and advice. In small and large firms, annual average revenue per employee is about $200,000.

PRODUCTS, OPERATIONS & TECHNOLOGY

Financial planners help customers put together a plan to manage their financial resources; investment advisors suggest specific investments. About 60 percent of industry revenue comes from providing services to individuals. Financial planners help individuals form a plan that may include debt, asset, college, retirement,

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estate and tax planning, and may periodically check with the client to see how well the plan is being followed. Much of the planning revolves around an income and spending budget, with advice about the types of financial investments suitable for the client.

Primary

For the past year I have talked about my site to various groups of people including my doctor, financial advisor friends, friends of friends, and anyone else in between. The feedback I received has been helpful in shaping this idea and moving it forward. First, most people indicated that the safety of their information would be key when they used the site for financial planning. Second, they indicated that the site must be easy-to-use and easy-to-understand. Third, they indicated that they wouldn’t want to answer many technical or detailed questions.

My Free Financial Plan has incorporated each of these views into a coherent strategy to make sure these ideas are implemented to make the financial planning experience better. First, we will make sure that every piece of information entered and saved will be protected with the highest security possible. Second, we will break-down information that teaches customers about key concepts in easy-to-understand language, but not in a way that patronizes their level of education. Third, we will offer a basic financial plan for free with advanced features (which would require more information gathering and questions answered) for a fee. We will limit the questions on the basic financial plan so that it is to the point and doesn’t hassle the customer with too many questions.

Economics

Facts about your industry: Financial Services Industry

What is the total size of your market? 300 million+ in the United States

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What percent share of the market will you have? 1 millions users

Current demand in target market. The demand for financial planning has never been greater due to the current economic crisis the United States.

Trends in target market—growth trends, trends in consumer preferences, and trends in product development. The trend in the market place is that consumers are becoming more frugal and more aware of the impact of their financial decisions on the larger economy. Consumers need financial planning to reach their dreams and goals and the demand for a streamlined and effective online planning process has never been greater.

Growth potential and opportunity for a business of your size. The growth potential for My Free Financial Plan is quite astounding. We will have one millions users by the end of the first year of business. However, we will not stop there. We have an amazing product and service and will continue to change it as the market changes in order to keep the attention of a flippant society. We will review and change our business plan every six months to keep ahead of the marketplace and keep our direction in check.

What barriers to entry do you face in entering this market with your new company?

o Moderate marketing costso Consumer acceptance and brand recognitiono Training and skills o Unique technology and patentso Shipping costso Web securityo Limited financial resources

We will overcome these barriers by keeping true to our mission and providing free financial planning to everyone. We will seek out capital and resources from banks/credit unions and possibly the SBA. Additionally, we will seek out capital donations from venture capitalists and individuals willing to realize the dream we have put forth. We will seek out the most talented web design and technology people who would like have their own business and convince them to join us for a potential return of autonomy and working for a great company. We will acquire the training and skills necessary or seek out mentors who can help us achieve our mission. We will create a grassroots approach to marketing to keep costs low including using Facebook, Twitter, MySpace and YouTube. Additionally, we will use old-fashioned marketing techniques and word-of-mouth.

Some potential barriers:

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o Change in technologyo Change in government regulationso Change in the economyo Change in financial services industry

Product

Features:

Customers will input financial data to create a financial plan for free (excluding if the customer would like it printed/bound and shipped to them.)

Customers will be able to use My Free Financial Plan at home, work, or on-to-go via a mobile application.

Customers will be able edit their personalized financial plan at anytime or as their circumstances change.

Customers will be able to blog about current financial situations they face and solicit or offer advice.

Customers will be able to learn about investing, college education costs, and other pertinent financial information from the website.

Benefits:

My Free Financial Plan is a site to use in a tangible way to reach one’s goals and dreams.

My Free Financial Plan provides a safe and comforting way to use the financial planning process.

My Free Financial Plan provides an individual with an empowered way to look at their finances

My Free Financial Plan is a site to use to learn about good financial practices to benefit society.

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My Free Financial Plan will strive to provide the best possible after-sales experience to our customers. If a customer is not satisfied with their purchase we will refund their money in exchange for the feature to be removed from their account.

My Free Financial Plan will work closely with our advertising partners to create their envisioned results. We will strive to reach their goals as well as our in accordance with our mission. We will be flexible with our clients who advertise with us in exchange for their commitment to become a partner with us and grow each of our respective businesses.

Customers

Demographic profiles:

Consumer:

18-34

Male or Female

$32,000 - $65,000

Middle Class

Bachelor’s degree

Business:

Financial Services Industry

1-500+ plus employees

Quality, technology, and price preferences related to our advertising contract

Competition

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Some of the competition will include; Etrade Financial, Bank of America, JP Morgan Chase, local financial planners, mint.com, and other firms specializing in financial planning.

These companies will compete for the customers who use My Free Financial Plan. These companies won’t necessarily seek to create financial plans for our customers, but rather solicit them for advanced services. The goal is to lure these companies into advertising with My Free Financial Plan so that banking needs as well as investment needs will be directed toward these larger companies who specialize in those kinds of services. We will use our competition to our benefit.

My Free Financial Plan will hands-down by the best free financial planning service available on the web. I’ve searched for something better than what I have envisioned and cannot find it. We have a real opportunity to corner a new marketplace based on financial literacy and trust rather than manipulation and fleeting results.

Table 1: Competitive Analysis

FACTOR Me Strength Weakness JP Morgan Chase

Delo Advisors

Importance to

Customer

ProductsMy Free Financial

PlanFree, easy-

to-use GenericFree

Platinum Analysis

Fee-based Financial

Plan1

Price Very competitive

Not fee-based

Reliance on Advertising

as main revenue

Will sell other

products to recoup costs

Will sell other

products to increase revenue

3

Quality

Personalized, but not

too detailed.

Simplified

Easy to read and to apply to life circumstanc

es

Could come off as

generic or not

personalized

Bankers only have Series 6

and advisors

seem untrained

Years and years of

experience with

detailed plans

1

Accessibility

Web-based, very

comfortable to try

Open 24/7

People scared to

input financial

data

Big corporation with huge

image problems

Referral-based only 5

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Delo Advisors

Importance to

Customer

Service Web-based support

No physical building

costsImpersonal

National chain, but

bad customer service

reputation

Local advisor, known clients,

personalized service

3

ReliabilityReliant on servers, start-up

money, etc

Low maintenanc

e costs

Technology has a way

of malfunction

ing

Has over 2 trillion in

assets

Been in business for

over 20 years

3

StabilityCould get bought out

or bust

Sold to a larger

company

Could change

philosophy of company

Unlikely to get bought

outAdvisor

could die 1

Expertise2 years of financial planning

experience

New ideas, open to ideas

Could be seen as

inexperienced

Over 100 years of

experience

Over 20 years of planning

experience2

Company Reputation

New company, unknown

Hey, let’s give it a try

Not sure if the

company is legit

Hands-down the darling of

Wall Street

Based on referrals 2

Location Web-based Low costsNo meeting

place for advertisers

Thousands of locations

Rich area of St. Louis,

MO3

Appearance

Clean, fun, and

approachable

Attract those who

never financially planned

Too fresh and trendy

Big marble walls, only

for the chosen few

Elite and sophisticate

d 3

Sales Method

Here it is, do you want

it?Not pushy Coming off

weak

You need this even

though you don’t

You came to me and

this is what you must do

2

Credit Policies None Good cash

flow

Turns away potential

advertising customers

Credit for select

businesses

Pay when financial plan is

completed5

Advertising

Solicit companies to advertise

Proactive approach

Too sales-based, not

quality relationship

We are the biggest

player so join us

Only works with

referrals5

Image We want to help

Community approach to

Your site made me

We are greedy and

I told you so

1

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Delo Advisors

Importance to

Customer

Americans plan for

their futures

financial planning

make a bad financial decision

we want every last dollar we can get

from you

My Free Financial Plan does have a robust and effective competition. We can either use that as an inhibitor of progress or seize the opportunity to reach where these competitors have not. My Free Financial Plan will seize the opportunity in this market to become a key player.

Niche

The niche market for My Free Financial Plan is providing a streamlined, easy-to-use, web-based, free financial plan for everyone. The competition does not do anything like this at all! It’s an exciting new opportunity for My Free Financial Plan to revolutionize the marketplace and the financial services industry.

Strategy

First, My Free Financial Plan will use social networking sites including Facebook, MySpace, Twitter, and YouTube to reach our target market of young adults seeking financial planning. Second, we will use word-of-mouth and a referral system where people who use the site can input their friends and colleagues email addresses. Third, we will actively uses Google, Bing, and other search engines to boost our presence on the web via key words and phrases. Fourth, we will create a buzz with press releases sent to multiple news organizations and magazines such as Forbes, GQ, WSJ, NYT, etc. We hope that they would recognize our potential and run an article. Fifth, we will actively seek investors and advertising to spark revenue growth and to connect with different ideas on how to grow the business.

Promotion

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My Free Financial Plan wants to project a unique image. We would like our customers to see us as a trustworthy partner in their quest to reach their goals and dreams. Additionally, we would like to be seen as a knowledgeable source for financial planning information and easy-to-use interfaces.

My Free Financial Plan will run promotional offers on a regular basis. We will remind customers every six months to update their financial plan and include a special offer to purchase something from the site. Additionally, we will continually offer our advertising customers special discounts for extending their contracts. We hope to use web technology to have an automated process set up where emails are sent at specified time periods. We will also contact advertisers by phone or email to personalize the service they receive.

Promotional Budget

The promotional budget will consist of a $2,500 investment.

We hope to have a tenfold return on the initial promotional investment thereby having a quarterly promotional budget of $25,000.

Pricing

My Free Financial Plan is a free service to customers. We will offer additional services for additional fees. Our main goal is to rely on advertising from companies willing to be placed on our site. Additionally, revenue will be generated from sales of merchandise from partnerships in the financial services industry. We plan to not only offer a free financial plan but also tools that customers can purchase to utilize the financial planning process even further.

My Free Financial Plan will be very competitive when it comes to price and quality. Our main goal is to offer a standardized, streamlined, easy-to-use financial plan with no cost to the customer. However, as it is important to be profitable we will offer additional services for fees. With as much traffic as we anticipate advertisers will love to be placed on our site.

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Proposed Location

Our U.S. headquarters will be located in Chicago, IL in the River North section of downtown. We are currently looking for office spaces in River North. Currently, operations are located at my home.

My Free Financial Plan will have a modern and contemporary location in the River North section of downtown Chicago, IL. We hope to have advertising clients meet with us at this location for sales presentations as well as investors seeking to know more about our company. Additionally, the office location will serve a point of reference to our growth as an independent business.

Distribution Channels

My Free Financial Plan’s main distribution channels will be web-based. We plan on actively seeking advertising revenue from multiple companies by soliciting their business; we will do this through direct marketing, cold calls, warm leads through referrals, and social networking sites. Additionally, we will use frequent press releases to draw interest to our company.

Sales Forecast

My Free Financial PlanBalance Sheet

7/31/2009

Assets Current Assets: Cash $5,000 Accounts Receivable $0

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Less: Reserve for Bad Debts 0 0 Merchandise Inventory 0 Prepaid Expenses 0 Notes Receivable 0 Total Current Assets $5,000 Fixed Assets: Vehicles 0 Less: Accumulated Depreciation 0 0 Furniture and Fixtures 0 Less: Accumulated Depreciation 0 0 Equipment 0 Less: Accumulated Depreciation 0 0 Buildings 0 Less: Accumulated Depreciation 0 0 Land 0 Total Fixed Assets 0 Other Assets: Goodwill 0 Total Other Assets 0 Total Assets $5,000

Liabilities and Capital Current Liabilities: Accounts Payable $5,000 Web Design & MarketingSales Taxes Payable 0 Payroll Taxes Payable 0 Accrued Wages Payable 0 Unearned Revenues 0 Short-Term Notes Payable 0 Short-Term Bank Loan Payable 0 Total Current Liabilities $5,000 Long-Term Liabilities: Long-Term Notes Payable 0 Mortgage Payable 0 Total Long-Term Liabilities 0

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Total Liabilities 5,000 Capital: Owner's Equity Net Profit 0 Total Capital 0 Total Liabilities and Capital $5,000

Cash Flow Budget Worksheet

SeptemberOctobe

rNovembe

rDecembe

rJanuar

yFebruar

y TotalBeginning Cash Balance $1,500 $743 $1,447 $4,005 $8,904Cash Inflows (Income):

Accts. Rec. Collections 5,000 6,250 7,813 9,766 12,207 15,259 56,294Loan Proceeds 0

Sales & Receipts 1,500 2,000 2,500 3,000 3,500 4,000 16,500Other:

00

Total Cash Inflows $6,500 $8,250 $10,313 $12,766 $15,707 $19,259$72,79

4Available Cash Balance $6,500 $9,750 $11,055 $14,213 $19,712 $28,162

Cash Outflows (Expenses):

Advertising 2,500 3,000 3,500 4,000 4,500 5,000 22,500Bank Service Charges 0

Credit Card Fees 0Delivery 0

Health Insurance 0Insurance 25 25 25 25 25 125Interest 0

Inventory Purchases 0Miscellaneous 0

Office 100 200 300 400 500 1,500Payroll 2,500 2,500 2,500 2,500 2,500 12,500

Payroll Taxes 383 383 383 383 383 1,915Professional Fees 0

Rent or Lease 500 500 500 500 500 2,500Subscriptions & Dues 0

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Supplies (Web Design) 2,500 2,500 2,500 2,500 2,500 2,500 15,000Taxes & Licenses 0

Utilities & Telephone 0Other:

000

Subtotal $5,000 $9,008 $9,608 $10,208 $10,808 $11,408$56,04

0Other Cash Out Flows:

Capital Purchases 0Loan Principal 0Owner's Draw 0

Other:0

Subtotal $0 $0 $0 $0 $0 $0 $0

Total Cash Outflows $5,000 $9,008 $9,608 $10,208 $10,808 $11,408$56,04

0Ending Cash Balance $1,500 $743 $1,447 $4,005 $8,904 $16,754

Cash Flow Budget Worksheet March April May June July August TotalBeginning Cash Balance $3,869 $11,453 $23,705 $33,718 $59,181 Cash Inflows (Income): Accts. Rec. Collections 15,259 19,074 23,842 29,803 37,253 46,567 171,798 Loan Proceeds 0 Sales & Receipts 4,000 4,500 5,000 5,500 6,000 6,500 31,500 Other: 0 0 Total Cash Inflows $19,259 $23,574 $28,842 $35,303 $43,253 $53,067 $203,298 Available Cash Balance $19,259 $27,443 $40,295 $59,008 $76,971 $112,248 Cash Outflows (Expenses): Advertising 5,500 6,000 6,500 7,000 7,500 8,000 40,500 Bank Service Charges 0 Credit Card Fees 0 Delivery 0 Health Insurance 0 Insurance 25 25 25 25 25 25 150 Interest 0 Inventory Purchases 0 Miscellaneous 0 Office 600 700 800 9,000 1,000 1,100 13,200 Payroll 5,000 5,000 5,000 5,000 5,000 5,000 30,000

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Payroll Taxes 765 765 765 765 765 765 4,590 Professional Fees 0 Rent or Lease 1,000 1,000 1,000 1,000 1,000 1,000 6,000 Subscriptions & Dues 0 Supplies (Web Design) 2,500 2,500 2,500 2,500 2,500 2,500 15,000 Taxes & Licenses 0 Utilities & Telephone 0 Other: 0 0 0 Subtotal $15,390 $15,990 $16,590 $25,290 $17,790 $18,390 $109,440 Other Cash Out Flows: Capital Purchases 0 Loan Principal 0 Owner's Draw 0 Other: 0 Subtotal $0 $0 $0 $0 $0 $0 $0 Total Cash Outflows $15,390 $15,990 $16,590 $25,290 $17,790 $18,390 $109,440 Ending Cash Balance $3,869 $11,453 $23,705 $33,718 $59,181 $93,858

My Free Financial PlanIncome Statement

For the Year Ended August 31, 2010 Revenue: Gross Sales $276,092.00 Less: Sales Returns and Allowances $0.00 Net Sales $276,092.00 Cost of Goods Sold: Beginning Inventory $0.00 Add: Purchases Freight-in $0.00 Direct Labor Indirect Expenses $0.00 Less: Ending Inventory $0.00 Cost of Goods Sold $0.00

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Gross Profit (Loss) $276,092.00 Expenses: Advertising $63,000.00 Amortization $0.00 Bad Debts $0.00 Bank Charges $0.00 Charitable Contributions $0.00 Commissions $0.00 Contract Labor $30,000.00 Credit Card Fees $0.00 Delivery Expenses $0.00 Depreciation $0.00 Dues and Subscriptions $0.00 Insurance $275.00 Interest $0.00 Maintenance $0.00 Miscellaneous $0.00 Office Expenses $14,700.00 Operating Supplies $0.00 Payroll Taxes $6,505.00 Permits and Licenses $0.00 Postage $0.00 Professional Fees $0.00 Property Taxes $0.00 Rent $8,500.00 Repairs $0.00 Telephone $0.00 Travel $0.00 Utilities $0.00 Vehicle Expenses $0.00 Wages $42,500.00 Total Expenses $165,480.00 Net Operating Income $110,612.00 Other Income: Gain (Loss) on Sale of Assets $0.00 Interest Income $0.00 Total Other Income $0.00 Net Income (Loss) $110,612.00

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VI. Operational Plan

My Free Financial Plan will operate Monday-Friday from 8:00 A.M. – 4:00 P.M. We will make special arrangements for client meetings upon request.

Location

River North neighborhood in downtown Chicago, IL.

Physical requirements:

Amount of space: 220 square feet

Type of building: Rehab

Zoning: Mixed

Power and other utilities: Included in rent

Secure Access: Yes

Estimated Cost: $500 a month

Legal Environment

Licensing and bonding requirements: Incorporated in the State of Illinois

Permits: City of Chicago operational permit

Health, workplace, or environmental regulations: Proper signage

Special regulations covering your industry or profession: Regulatory information

Zoning or building code requirements: Mixed

Insurance coverage: Renter’s Insurance

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Trademarks, copyrights, or patents (pending, existing, or purchased): Patent for Intellectual Copy Rights

Personnel

Number of employees: 1

Type of labor (skilled, unskilled, and professional): Professional Staff

Where and how will you find the right employees? We will post on Craigslist, Monster, etc.

Pay structure: Intern and then competitive

Training methods and requirements: Hands-on

Have you drafted job descriptions for employees? Intern postings will have thorough job description

For certain functions, will you use contract workers in addition to employees? Yes. The web design portion of the site will use contract labor.

Credit Policies

Managing Your Accounts Payable

My Free Financial Plan will not be late over 90 days. To conserve cash flow we will slice our total amount due in fourths or halves, whichever is appropriate according to our cash flow.

Total Current 30 Days 60 Days 90 Days Over 90 Days

Accounts Payable Aging

$10,000 $2,500 $2,500 $2,500 $2,500 $0

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VII. Management and Organization

I, Clinton Brown, will be the key management person and owner of My Free Financial Plan. Any and all decisions will be based on the best judgment possible according to the experience I have. Below is my resume.

Clinton BrownExperience:

JP MORGAN CHASE, Chicago, ILLicensed Personal Financial Representative, July 2008-July 2009• Work closely with clients to create financial plans based on individual goals.• Sell investment products such as stocks, bonds, and mutual funds.• Service client requests for money transfers, exchanges, and redemptions.• Provide financial advice to clients.• Facilitate administrative tasks, customer service, and branch support.• Implement marketing plans to acquire additional brokerage clients.• Research stocks, bonds, and mutual funds for recommendations to clients.

DELO ADVISORS LLC, St. Louis, MO

Trading & Operations Coordinator, July 2007-July 2008• Serviced client requests for money transfers and trades.• Prepared quarterly performance reports for clients.

• Maintained trade blotter and SEC compliant manuals.• Drafted new financial plans and update existing financial plans.

• Sold investment products such as stocks, bonds, and mutual funds.• Provided stock and mutual fund recommendations.• Maintained performance and fee reports via Advent Software.

• Built allocation charts, tax projections, and RMD projections.• Provided financial advice to clients.

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• Implemented federal and state compliance.• Acquired skills in marketing, research, and customer relations.• Obtained Series 7, 66, and Life and Health Insurance Licenses.

LAPIDES ASSET MANAGEMENT LLC, Greenwich, CTAdministrative Assistant, August 2005 – July 2007• Provided assistance to the Managing Director.

• Facilitated administrative support and client support. • Chronicled SEC compliance and research support.• Reviewed, analyzed, and documented 10-K and 8-K filings.• Maintained daily activity sheet about market movements.• Processed trades and trade confirmations.• Researched stocks and companies.• Compiled company statements and year-end statements.

• Maintained web site updates and assisted other employees with computer problems.

Qualifications:• MS Office; Excel, Word, Power Point, Publisher, and Front Page.• Quick Books, Peachtree, Turbo Tax, Advent, Goldmine, Bloomberg, and Morningstar.

Education:Norwich University, Northfield, VTMaster of Arts, 2009GPA: 3.25

Manhattanville College, Purchase, NYBachelor of Arts, 2007

GPA: 3.70

Honors:• Manhattanville College Board of Trustees Scholar• Horatio Alger Scholar• U.S. Congressional Page • Missouri Real Estate Certificate

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Professional and Advisory Support

Owner: Clinton Brown

Attorney: N/A

Accountant: Teresa Elders

Insurance agent: N/A

Banker: Bank of America

Consultant or consultants: N/A

Mentors and key advisors: N/A

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VIII. Startup Expenses and Capitalization

My Free Financial Plan will allocate $5,000 for start-up expenses (excluding any loans or venture capital investments). $2,500 will be allocated for web design via contract labor and $2,500 will be allocated to advertising and acquiring advertising clients.

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IX. Appendices

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my free financial plan business plan

Documents