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Bangor, ME Gerald Rekve This business plan details the goals and objectives for an independent Private Investigator PI firm founded by three former police officers.
In this time the three had gone different paths in the Bangor Police force. James Walsh had spent the majority of his career in the fraud section. Colin Day had spent the majority of his time in the narcotics division.
Finally Greg Baker had focused his entire career on the administration and management of the police force. While all three partners of the newly formed FBEyes firm had spent their careers in separate divisions of this large police force, they all had one thing in common.
They enjoyed the investigation part of their job and had taken all the required steps to educate themselves law firm partner business plan template all aspects of their respective job functions.
These skills had not only made them leaders in their divisions, it also gave them a great amount of access to other police forces in other cities. All three had decided to take early retirement in order for them to launch their own Private investigation firm.
While there was a substantial amount of competition from the long established firms, all three based their decision on solid market statistics that supported the decision to open their own PI firm.
Over a period of twelve months prior to their official retirement, all three members spent their free time gathering and working on the business plan. The also hired a management consulting firm to work with them to build the business plan and look for outside opinions on the business sector.
While most PI firms were a one or two person operation, which focused on the basics of the industry like surveillance and searching for people etc, FBEyes decided that this was a good area, however wanted to add all their backgrounds and training to the business.
Background checks for employers Fraud Investigations for companies when a company reports suspected fraud from an employee.
This can also be hired by local police forces, where subjective investigation is required. Competition search for when a company thinks their copyright or products are being copied or sold. This area has a lot of competition; however the partners felt that with their training, they would attract higher paying clients allowing for more of an executive type of client base.
Not to mention this area has the highest percentage of income for most PI Companies and cannot be overlooked. This area is another strong point for the PI Firm, with the training as well as work experience, the partners felt they know where to look and the skills required to gain the trust of police forces and clients.
This area would be sub contracted to other officers who still work in the police force, however want to earn money from this part time job. The present laws in the region allow for police officers to work in similar jobs as long as no information is used from police databases and or files.
This area, while small, still has a lot of potential. With the majority of MPs actually investigated by police forces, due to the large work load of local police forces, most MPs do not get the proper investigations, unless they are deemed to be of a criminal nature. The base fee for this service is high, however part of the reason for this, we will offer this service free to specific cases, like children or lower income cases.
Each case will be reviewed on an individual basis. This most likely going to be one of our smaller areas of business services. However due to the large amount of unreported stolen property that takes place each year in the region, we feel with the training and backgrounds that we have in this area we could offer a service and make money at the same time.
A large percentage of stolen property is taken by the same criminals or rings. Glassman Investigators—they have been in business for 20 years; they only provide services to the surveillance and missing persons sectors. They are a ten—employee firm that has built a solid foundation in the market.
They tend not to target the corporate arena, just the private person market. They have been in business for 25 years and a strong affiliation with a national Private Investor chain. Hayes employs 20 full time investigators and 10 part time.
Actually two of the founders of FBEyes had actually worked for Hayes for 5 years on a part time basis. This two—person firm that only specializes in surveillance area, mostly in marriage, divorce sort of situations.
There are about four more firms that are run by a single—person—owner—manager type of situation.
These firms tend to only get enough revenue to meet the costs of the firm and that is it. There is no growth in this area. The area, where we will most likely see the biggest compitition will be from the outside national chain investigator firms.Creating A Business Plan to diligence a conversation on a lateral partner.
The business plan on the other hand, is your opportunity to market your practice and walk the firm through your. How important this is for a legal business plan depends on your long and short term goals, e.g., whether they are to grow a partnership, join a firm, build up a practice that is enticing for acquisition by a larger firm.
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