business plan for bureau de change

Sample Bureau De Change Business Plan Template PDF

Bureau de change business plan sample.

Bureau de Change businesses form an important part of the financial sector of the economy of many countries. They are legally empowered to operate businesses involved in the exchange of one currency for another.

You will usually find Bureaus de Change at international transit points or places where there could be a need for the conversion of currency. Such places include airports, border posts, seaports, holiday resort centers, travel agencies as well as banking institutions.

Bureau de Change operates a business structure that is in keen competition with other similar ventures. It makes a profit by the difference in margins; in other words, it sells a currency (ices) at a higher rate than at what it bought the same currency. This is addition to any commissions or fees it charges for the transaction.

However, you will notice that the Bureau de Change must keep an eye on the prevailing dollar exchange rates as well as the rates offered by its competitors.

Because of the sensitive nature of their business, Bureau de Changes are firmly regulated by the Central Bank of the country they operate in. The Central financial institutions of each host country issue policy guidelines and a structural framework by which Bureau de Change must adhere to.

These guidelines usually conform to international best practices and are as follows:

1. The intending individual/corporate body seeking to operate a Bureau de Change must apply for a license from the governing financial institution in the host country.

2. The intending individual/corporate body must offer currency exchange services as a stand-alone service.

3. You will be required to make a refundable or non-refundable (varies from one country to another) application fee for the license

4. A detailed feasibility report showing items such as the composition of the board and management personnel, financial projections, organizational structure of the Bureau as well as other stipulations.

5. Evidence of the ability to pay minimum startup capital which varies from country to country.

6. A due diligence of the members of the board of directors as well as management staff as people of unimpeachable character, with no criminal records.

7. Adhering to the money laundering laws of the host country.

Here is a sample business plan for starting a Bureau de Change.

a. Carry out a Detailed Feasibility Report

You cannot venture into this business blindly. It is a capital intensive business; hence you have to determine your target markets, your potential business structure, prevailing guidelines/stipulations regarding registration/operation as well as other pertinent information.

With information comes the wherewithal for you to determine if you possess the resources: mental, human and financial, to successfully run a Bureau de Change.

b. Intern at an Existing Bureau de Change

Remember the saying that experience is the best teacher? It could not be more apt for you to garner some experience working at an existing Bureau de Change, in order to have a total grasp of the workings of the business.

Your time as an intern will expose you to the daily operations in a Bureau de Change such as sourcing for foreign currencies, interacting with customers and regulators, staff engagement, interpretation of foreign exchange rates as well as other issues pertinent to the successful running of the business.

c. Have a Business Plan

The importance of a Bureau de Change business plan cannot be over-emphasized. This document must be drawn up before you even apply for a license.

A detailed business plan will help you make financial projections and how you intend to meet your objectives, your target market, the role of the competition, future/anticipated trends that may affect your business as well as other relevant parameters.

A thorough business plan not only singles you out as a serious minded entrepreneur but you could also use it to obtain financing from banks and angel investors.

d. Find a strategic Location

A Bureau de Change is only as viable and as successful as how easy it is for your customers to reach you for their needs.

You must understand that currency conversion is an on-the spot requirement, hence you must be easily reachable for transactions. Plausible locations for your physical premises include airports, seaports, travel agencies, banks and other strategic places.

You take your Bureau de Change business up a notch by offering your customers an online platform to place their orders; depending on the regulatory stipulations that guide your operations

e. Obtain the Necessary Equipment and Engage the Appropriate Staff

Your bureau de change business will need to possess necessary gadgets such as currency counting machines, cash registers/tills, calculators, computers, safe deposit boxes and reinforced cabinets amongst others.

You will also have to engage the services of competent and people-friendly staff, who serve as the first point of contact with your customers.

Your business will also have to comply with other non-financial stipulations such as the availability of fire extinguishers and safety gear.

f. Choose an Appropriate Business Structure

Will you run the bureau de Change as a sole proprietor? Or will you constitute a board of directors, backed up by a management staff? You will have to choose the business structure that conforms to the minimum stipulations guiding the licensing of the Bureau de Change business model in your home country.

A Bureau de Change business is a very lucrative venture that guarantees a handsome ROI on your investment.

However, Bureau De Change is also a business that you must administer diligently, due to the volatility of the currency market and the dynamic nature of financial/fiscal regulations.

BUREAU DE CHANGE BUSINESS PLAN EXAMPLE

Do you want to write a bureau de change business plan, and are looking for a sample business plan to help you write one? Chances are, you are like most people and you need to write a business plan because you need that loan from the bank.

Or maybe, you are among the few business owners that take out time to write a good business plan not just because they need a loan from the bank, but because they realize how important a business plan is to the success of their business.

Now, you must have made enormous preparation for that business, and you are well aware of the requirements needed to start the business. I have taken out the time to draft out a bureau de change sample business plan that will help you write in writing a bureau de change business plan.

So without ado, here is a bureau de change sample business plan.

BUSINESS NAME: Johnny Jones & Sons Bureau De Change, LLC

• Executive Summary
• Vision Statement
• Mission Statement
• Business Structure
• Products and Services
• Market Analysis
• Target Market
• Sales and Marketing Strategy
• Sales Forecast
• Exit Strategy

EXECUTIVE SUMMARY

Johnny Jones & Sons Bureau De Change, LLC is a fully registered and licensed bureau de change company that will be situated in New York. We are a well-trained and certified bureau de change company that will focus on buying and selling currencies from top countries all over the world.

We will offer sophisticated foreign exchange services to our customers at a very reasonable fee that they will not get anywhere else. Because we are interested in our clients’ satisfaction, this is why we will do well to hire professionals who are especially experienced in the bureau de change services.

Johnny Jones & Sons Bureau De Change, LLC will be a sole proprietorship company that will be owned by Johnny Jones and the members of his family. The startup capital will be partly contributed by the family and relatives, and soft loans will be secured from the bank to cover the remainder.

VISION STATEMENT

Integrity, security, excellence, commitment, and teamwork: these are our core values that we will seek to abide by.

Our vision at Johnny Jones & Sons Bureau De Change, LLC will transparently portray all of our core values.

Our vision is to become the leading bureau de change company in all of New York, where individuals, small businesses and corporate clients will come to us for outstanding bureau de change services they cannot get anywhere else.

We will achieve this vision by:

– Providing outstanding bureau de change services to all our clients, whether individuals, small businesses or big corporate clients. – Applying the right market strategy to grow our company into the number one bureau de change brand in New York.

MISSION STATEMENT

Our mission is to deliver an outstanding, reliable, and sure bureau de change services to our customers. We will provide services that will enable our customers – whether individuals, startup businesses, corporate businesses and organizations – to deal with their foreign exchange needs as well as other financial needs they have.

We will achieve this goal by steadfastly sticking to our core values that differentiates us from other bureau de change companies.

BUSINESS STRUCTURE

We expect to start Johnny Jones & Sons Bureau De Change, LLC as a small-scale bureau de change business, but over the years, we will grow it big into one of the strongest and leading bureau de change businesses in New York.

In order for us to become the big bureau de change company that our vision states, we will be ready to hire nothing shut of the very best employees. We will hire professionals who share our vision and are dedicated and committed to growing our company to the desired level. We will hire professionals to fill the following positions:

– The Chief Executive Officer – Consultants – Human Relations (HR) Manager – Accountant – Sales and Marketing Executive – Customer Care Service Executive – Receptionist

We will put in considerable efforts to ensure all of the positions above are filled by the right professionals that will help us achieve our vision and our mission.

PRODUCTS AND SERVICES

Johnny Jones & Sons Bureau De Change, LLC will focus on offering all kinds of services within the range of the Bureau De Change services industry both in the United States and international.

Basically, we will be focusing on the following areas:

– Trading of foreign exchange on behalf of our individual customers, small business corporations, and corporate clients. – Buying and selling of currencies from top countries of the world. – Delivering other foreign exchange and financial consulting services to our esteemed customers.

MARKET ANALYSIS

The bureau de change industry is a very large one as one could observe. This industry offers services to other businesses in almost all industries as well as to individuals.

Today, a lot of businesses have become much more active in international trades than they used to be a few years ago. Also, students all over the world are also travelling to other countries across the globe for education. One could easily see the demand for the services of the bureau de change industry as these businesses cannot operate, and these students cannot blend into a foreign country, without having access to the currency of the foreign country.

One trend that is very obvious in the bureau de change industry is that, in recent years, the industry had experienced a massive growth due to the decrease in unemployment. Moreover, the industry will even grow further over the years as product penetration increases, and customer base expands.

TARGET MARKET

The people who need the bureau de change services vary; from the individual, the small businesses to the large business corporations. Johnny Jones & Sons Bureau De Change, LLC will focus on delivering a broad range of services to customers.

We will offer our services to individuals as well as businesses of various sizes, they include but not limited to:

– Non-Government Organizations (NGOs) – Corporate Organizations – Production Companies – International Students – International Tourists

SALES AND MARKETING STRATEGY

For us to be able to achieve our goal as becoming one of the leading bureau de change companies in New York, we will ensure our sales and marketing strategy clearly heads us in the direction of this goal.

We will ensure first and foremost, that we hire top professionals with years of experience in the bureau de change industry to fill the positions of our business.

We will make our business known by sending our business brochure and introductory letters to companies and organizations, importers and exporters, international businessmen, schools that have international students and a host of others who fall into the category of those who need our services.

We will also advertise our business in reputable business magazines, newspapers, radio and TV stations all over New York. We will not hesitate to create a website for our business as well as connecting on social media platforms.

SALES FORECAST

The sales projections of Johnny Jones & Sons Bureau De Change, LLC are shown below. We hope to expect these sales projections over the next 3 years. These sales projections are based on a number of factors which have been analyzed.

Year 1 $300,000 Year 2 $500,000 Year 3 $950,000

EXIT STRATEGY

Should Johnny Jones & Sons Bureau De Change, LLC head towards the exit door; we have put in place a good exit path for it to go. We will sell the company off to competitors and invest the buy-out money into another channel.

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Bureau De Change Business Plan Template

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Are you interested in starting your own Bureau De Change Business?

Introduction

Global market size, target market, business model, competitive landscape, legal and regulatory requirements, financing options, marketing and sales strategies, operations and logistics, human resources & management.

How to Start a Bureau de Change Business

Home » Business ideas » Financial Service Industry

Do you want to start a bureau de change business? If YES, here is a complete guide to starting a bureau de change business with NO money and no experience plus a sample bureau de change business plan  template. The world is a global village and there are leverages available for citizens of one country who may decide to travel, do business or study in another country.

Aside from understanding how to communicate with people in your host country, you would need to change your money into their currency so that you can freely spend while you are there. As a Nigerian or someone who lives in Nigeria, if you want to engage in international trade cum business, you would need certain currencies of the world and the united states Dollar, Pound Sterling and the Euro readily comes to mind.

This goes to show that the bureau de change business in Nigeria is a viable business that aspiring entrepreneurs looking towards starting a business can successfully start. The truth is that if you choose to open a bureau de change shop in a commercial city in Nigeria, you will definitely make huge profits from the business because it is a thriving business all over the globe.

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Part of what you would need to launch this type of business is good business skills; excellent mathematical skills, excellent customer service skills, good understanding of world currencies, startup capital and the required business license.

Starting a bureau de change business requires huge startup capital but the fact remains that it is a profitable venture. It is important to state that a bureau de change business is a highly risky venture, because you stand the chance of been duped since you will always work with liquid cash.

So, if you have done the required feasibility studies and market research, then you might want to venture into this business. If you have been tinkering with starting your own bureau de change business, but do not know how to go about it, then you should consider going through this article; it will give you the needed guide and direction.

18 Steps to Starting a Bureau de Change Business

1. understand the industry.

If you have visited any airport in Nigeria , or key commercial cities, you will be greeted by young men from the Northern part of Nigeria calling on you to know if you want to change ‘Dollar’ or any foreign currency. They can be found in the walk-ways of key commercial centers and usually, their offices are always within trekking distance.

A bureau de change as it is popularly called in Nigeria is also known as a non-bank foreign currency exchange company. It is a business in competition with other financial related businesses that make profit from selling currency at a higher exchange rate. In setting its exchange rates, they ensure that they keep an eye on the rates quoted by competitors, which may be subject to government foreign exchange controls and other regulations.

If you are a close watcher of the Nigerian foreign exchange market, you will agree that the industry has witnessed tremendous changes. The Second-tier Foreign Exchange Market (SFEM) was introduced in September, 1986, the unified official market in 1987, the autonomous Foreign Exchange Market (AFEM) in 1995, and the Inter-Bank Foreign Exchange Market (IFEM) in 1999.

In Nigeria, Bureau de Change was licensed in 1989 to accord access to small users of foreign exchange and enlarged the officially recognized foreign exchange market. It is important to state that the exchange rates in the Bureau de Change are market driven. A parallel market which is also called ‘black market’ for foreign exchange has been in existence since the exchange control era.

Research shows that scarcity in the official sector and bureaucratic procedures necessitated the growth and development of the black market (parallel market). The growth of the foreign exchange market in Nigeria up to its present state was greatly influenced by a number of factors such as the changing pattern of international trade, institutional changes in the economy and structural shifts in production.

Generally, a foreign currency exchange company/bureau de change is often located in places like banks, travel agencies, airports, hotels, main railway stations and international trade centers or any location where there is likely to be a market for people needing to convert currency. This is the reason why bureau de change is particularly prominent at travel hubs, although currency can be exchanged in many other ways both legally and illegally in other venues.

The Bureau De Change Services industry is indeed a large industry and pretty much active not only in Nigeria , but in all the countries of the world.

Some of the factors that encourage entrepreneurs to start their own bureau de change business despite the fact that the business is risky is that the business is highly profitable and can be started informally without the rigors of raising capital to meet certain capital base/capitalization as required by the regulating authorities.

Over and above, starting a bureau de change business requires professionalism and a good grasp of how foreign exchange works on a global platform. Besides, you would need to get the required certifications and license and also meet the standard capitalization for such business before you can be allowed to open a bureau de change company in Nigeria.

2. Conduct Market Research and Feasibility Studies

• Demographics and Psychographics

The demographic and psychographic composition of those who require the services of bureau de change cut across people and businesses who need to convert their local currency (Naira) to any foreign currency of their choice for various purposes.

So, if you are looking towards defining the demographics for your bureau de change business, then you should make it all encompassing. It should include international businessmen and women, international students, importers and exporters, international tourists and visitors, individuals, entrepreneurs and startups et al within and outside the city you are operating in.

3. Decide Which Niche to Concentrate On

There are no niche ideas within the bureau de change line of business except for some few bureau de change firms who have narrowed down their operation to only US dollar, Euro and Pound Sterling. Usually, it is expected that a standard bureau de change engages in the exchange of frequently asked foreign currencies including African currencies.

The Level of Competition in the Industry

The level of competition in the bureau de change business depends largely on your financial base (the liquid cash you can afford to change per-time) and how big and organized your bureau de change business is.

The truth is that no matter the level of competition in an industry, if you have done your due diligence and you brand and promote your products or services properly, you will always make headway in the industry. Just ensure you have what it takes to raise capital for your business, know how to partner with banks to access forex and you know how to reach out to your target market (those who frequently need forex for their business).

4. Know Your Major Competitors in the Industry

It is the norm that in every industry, there are always brands that perform better or are better regarded by customers and the general public than the others. Some of these brands are those that have been in the industry for a long time, while others are best known for how they conduct their businesses and the results they have achieved over the years.

These are some of the leading bureau de change businesses in Nigeria;

• Bancorp Bureau De Change Ltd
• Zakfiza Interprises Nig Ltd
• Saboeleja Trading And Investment Ltd
• Obi And Sons Company Investment
• Ogbeni Bit coin
• Specifiq Resources Limited
• Exchangeindeed Com
• Ex Currency
• Hanana Global Link Limited
• Chinedu Exchange Investment Limited
• Fesman Bureau International Limited
• Sole Corporate Signatures
• Enterprise Xchange Dolla Store Esds Limited
• C3 Global Enterprises C3ge
• Naira4dollar
• Ibr Global Markets Limited
• Crypto Merchant
• Johnkay ServicesGeeomotayo Cargo And Money Transfer

Economic Analysis

When it comes to starting a bureau de change business, you just have to get your feasibility studies and market research right before venturing into the business. It is good to mention that bureau de change business is not for rookies; it is for professionals who have successfully gathered the required experience to handle such business. But an aspiring entrepreneur can learn ropes on the job. You just have to be careful so that you don’t get swindled.

Starting this kind of business entails that you raise plenty of startup capital (pool cash from interested investors). If you are already a wealthy person, this might not be an issue. If you cannot, you may want to consider pulling resources from family and friends. Depending on the scale at which you want to start from, you might require as much as multiple thousands of dollars, pounds, Euros, Naira and other currencies to get started.

5. Decide Whether to Buy a Franchise or Start from Scratch

Unfortunately, in Nigeria the only industry where you can easily get a franchise to buy is the fast food industry. Aside from that, you must be prepared to start your business from the very scratch. So, if you have plans to start your bureau de change business in Nigeria, then you must start from the scratch.

6. Know the Possible Threats and Challenges You Will Face

If you decide to start your own bureau de change firm today, one of the major challenges you are likely going to face is the presence of well – established bureau de change firms and also banks because they are also involved in forex. One of the ways of overcoming this challenge is to be aggressive with your marketing.

Some other threats that you are likely going to face as a bureau de change services firm operating in Nigeria is unfavorable government policies , fraudulent people who may want to play a fast one you, the arrival of a competitor within your location of operation and global economic downturn which may affect your ability to raise working capital and access forex. There is hardly anything you can do as regards these threats other than to be optimistic that things will continue to work for your good.

7. Choose the Most Suitable Legal Entity (LLC, C Corp, S Corp)

When considering starting a bureau de change business, the legal entity you choose will go a long way to determine how big the business can grow; some bureau de change business design their business and services for regional markets, some for national market, while others for international market via online platform and wiring.

You can choose a general partnership or limited liability company for your bureau de change business. Ordinarily, general partnership should have been the ideal business structure for a small – scale bureau de change business especially if you are just starting out with a moderate startup capital.

But if your intention is to grow the business and have clients from all across Nigeria and other countries of the world, then choosing general partnership is not an option for you. Limited Liability Company, LLC will cut it for you.

Setting up an LLC protects you from personal liability. If anything goes wrong in the business, it is only the money that you invested into the limited liability company that will be at risk. Limited liability companies are simpler and more flexible to operate and you don’t need a board of directors, shareholders meetings and other managerial formalities.

These are some of the factors you should consider before choosing a legal entity for your bureau de change business; limitation of personal liability, ease of transferability, admission of new owners and investors’ expectation and of course taxes.

If you take your time to critically study the various legal entities to use for your bureau de change business, you will agree that limited liability company; an LLC is most suitable. You can start this type of business as limited liability company (LLC) and in future convert it to a ‘C’ corporation or an ‘S’ corporation especially when you have the plans of going public.

Upgrading to a ‘C’ or ‘S’ corporation will give you the opportunity to grow your bureau de change business so as to compete with major players in the industry; you will be able to generate capital from venture capital firms, you will enjoy separate tax structure, and you can easily transfer ownership of the company; you will enjoy flexibility in ownership and in your management structures.

8. Choose a Catchy Business Name

Generally, when it comes to choosing a name for a business, it is expected that you should be creative because whatever name you choose for your business will go a long way to create a perception of what the business represents. If you are considering starting your own bureau de change business, here are some catchy names that you can choose from;

• Good Deal Bureau De Change, LLC
• Forex 24/7 Services, Inc.
• Alhaji Ma’ Dollar, LLC
• Lamido and Sons Bureau De Change, Inc.
• Ade Bros® Bureau De Change, LLC
• Buba Group® Bureau De Change, LLC
• Akin Johnsons® Bureau De Change, LLC
• Brighter Days® Bureau De Change Ltd.
• Eze Ego & Sons® Bureau De Change Inc.
• TY Tanko® Bureau De Change, Inc.
• Andy Best® Bureau De Change, Inc.
• Northern Link® Bureau De Change, Inc.

9. Discuss with an Agent to Know the Best Insurance Policies for You

In Nigeria and in most countries of the world, you can’t operate a business without having some of the basic insurance policy covers that are required by the industry you want to operate from. So, it is imperative to create a budget for insurance policy covers and perhaps consult an insurance broker to guide you in choosing the best and most appropriate insurance policies for your bureau de change services business.

Here are some of the basic insurance policy covers that you should consider purchasing if you want to start your own bureau de change business in the United States of America;

• General insurance
• Risk Insurance
• Credit insurance
• Deposit insurance
• Financial reinsurance
• Health insurance
• Liability insurance
• Workers Compensation
• Business owner’s policy group insurance
• Payment protection insurance

10. Protect your Intellectual Property With Trademark, Copyrights, Patents

If you are considering starting your own bureau de change business, usually you may not have any need to file for intellectual property protection/trademark. This is so because the nature of the business makes it possible for you to successfully run it without having any cause to challenge anybody in court for illegally making use of your company’s intellectual properties.

11. Get the Necessary Professional Certification

When it comes to bureau de change business, you do not need to have any formal training or special certification before you can be allowed to start the business. All you need is informal training that will give you the needed skills and business exposure.

On the other hand, if you come across any form of certification that can aid you to conduct your bureau de change business, then by all mean try and pursue such certification.

12. Get the Necessary Legal Documents You Need to Operate

The essence of having the necessary documentation in place before launching a business in Nigeria cannot be overemphasized especially a bureau de change business. These are some of the basic legal documents that you are expected to have in place if you want to legally run your own bureau de change business in the United States of America;

• Certificate of Incorporation
• A Certified True Copy of the shareholders register in which the equity interest of each shareholder is properly reflected together with the original for sighting.
• A copy of the share certificate issued to each shareholder
• A certified true copy of the Form CO2 [Return of Allotments] filed with the Corporate Affairs Commission.
• A certified true copy of the Form CO7 [particulars of directors] and written confirmation that the Board of Directors approved by the CBN has been installed.
• A certified true copy of the Memorandum and Articles of Association, filed with the Corporate Affairs Commission.
• The opening statement of affairs audited by an approved firm of accountants practicing in Nigeria.
• A certified true copy of the certificate of Incorporation of the company [together with The original for sighting purposes only].
• A Copy each of the letters of offer and acceptance of employment by the Management staff and a written confirmation that the management team approved by the CBN has been installed.
• Online Terms of Use
• Online Privacy Policy Document
• Company Bylaws
• Insurance Policy
• Memorandum of Understanding (MoU)

13. Raise the Needed Startup Capital

Aside from the required capitalization and funds in various currencies you have to work with, starting a bureau de change can be cost effective. Securing a standard office in a good business district (commercial center), equipping the office and paying your employees are part of what will consume a large chunk of your startup capital.

When it comes to financing a business, one of the first things you should consider is to write a good business plan . If you have a good and workable business plan document in place, you may not have to labor yourself before convincing your bank, investors and your friends to invest in your business.

Here are some of the options you can explore when sourcing for startup capital for your bureau de change business;

• Raising money from personal savings and sale of personal stocks and properties
• Raising money from investors and business partners
• Sell of shares to interested investors
• Applying for Loan from your Bank
• Source for soft loans from your family members and your friends

14. Choose a Suitable Location for your Business

Bureau de change business requires that you see physically with your clients hence it must be located in a good location; a location that is prone to both human and vehicular traffic and a location that is at the epicenter of a business district or international travel hub if indeed you want to attend to loads of clients and maximize profits from the business,

The fact that you can operate your bureau de change business from any part of Nigeria does not mean that location has little influence on the success of a bureau de change business. If you have taken your time to study the bureau de change business, you will realize that bureau de change businesses and related businesses are willing to pay expensive rents in order to stay in a busy business district; a place where business activities and financial activities are at its peak.

The location you chose to open your bureau de change business is key to the success of the business; hence entrepreneurs are willing to rent or lease a facility in a visible location; a location where the demography consists of people with the required purchasing power and lifestyle

15. Hire Employees for your Technical and Manpower Needs

There is no special technology or equipment needed to run this type of business except for customized forex software and social media management software applications and other financial related software apps. You will also need computers, internet facility, telephone, fax machine and office furniture (chairs, tables, and shelves).

When it comes to choosing between renting and leasing an office space, the size of the bureau de change business you want to build and your entire budget for the business should influence your choice. If you have enough capital to run a standard bureau de change business, then you should consider the option of leasing a facility for your office.

As regards the number of employees that you are expected to kick start the business with, you would need to consider your finance before making the decision. Averagely, you would need a Chief Executive Officer (you can occupy this role), Bank Relationship Manager, Accounting Officer, Marketing and Sales Executive, Front Desk Officer and Security Officer.

Over and above, you would need about 6 key staff to effectively run a medium scale but standard bureau de change business.

The Service Delivery Process of the Business

A bureau de change firm is expected to first and foremost build a robust working capital ( in various foreign currencies ).

A bureau de change either exchanges forex with local currency (cash for cash) or they leverage on the banking platform to conduct their business. For example, if a big-time customer wants to change huge amounts of forex, the bureau de change operator can either wire the equivalent of the money to a specified account as request by the client or the bureau the change is expected to take the equivalent of the forex to either the residence of the client or his or her office.

16. Write a Marketing Plan Packed with ideas & Strategies

As a bureau de change operator, you would have to prove your worth over and over again before attracting big-time customers. So, if you have plans to start your own bureau de change business, it will pay you to build trust. People and organizations will patronize your business if they know that they are going to get good deals and not be duped. Here are some of the platforms you can utilize to market your bureau de change firms;

• Introduce your business by sending introductory letters alongside your brochure to all the international businessmen and women, international students, importers, exporters, entrepreneurs and startups et al within and outside your area of operation
• Advertise your business in relevant financial magazines, radio and TV stations (make yourself available for forex services related talk shows and interactive sessions on TV and Radio)
• List your business on local directories
• Attend international forex expos, seminars and business fairs
• Create different packages for different category of clients in order to work with them (people exchanging huge amounts should get a better deal compared to people exchanging smaller amounts)
• Leverage on the internet to promote your business
• Join local chambers of commerce and industries around you with the main aim of networking and marketing your services; you are likely going to get referrals from such networks
• Engage the services of marketing executives and business developers to carry out direct marketing

17. Develop Iron-clad Competitive Strategies to Help You Win

The bureau de change line of business is a competitive industry, and you must come up with a unique and highly creative strategy to be able to outsmart your competitors in the industry. Part of what you need to do in order to stay competitive in the industry is to continue to make available currencies of various nations at highly competitive rates. Organizations and people will always run to you if they know that they will get what to want as it relates to forex.

Another strategy that you can adopt is to ensure that your organization is well positioned; key members of your team are highly qualified and certified as it relates to their job roles.

18. Develop Strategies to Boost Brand Awareness and Create a Corporate Identity

If you are in business and you are not deliberate about boosting you brand awareness and communicating your corporate identity, then you should be ready to take on whatever the society portray your business to be.

If your intention of starting a bureau de change firm is to grow the business beyond the city where you are going to be operating from to become a national and international brand, then you must be ready to spend money on promotion and advertisement of your brand.

In promoting your brand and corporate identity, you should leverage on both print and electronic media and also social media (the internet). As a matter of fact, it is cost effective to use the internet and social media platforms to promote your brands, besides it is pretty much effective and wide reaching.

Below are the platforms you can leverage on to boost your brand and to promote and advertise your business;

• Place adverts on financial magazines and related newspapers, radio and TV stations
• Encourage the use of word of mouth publicity from your loyal customers
• Leverage on the internet and social media platforms like YouTube, Instagram, Facebook, Twitter, LinkedIn, Google+ and other platforms to promote your business
• Ensure that you position your banners and billboards in strategic positions all around your city
• Distribute your fliers and handbills in target areas in and around our neighborhood
• Advertise your business in your official website and employ strategies that will help you pull traffic to the site
• Brand all your official cars and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals

Office of change business plan

Are you going to open a bureau de change?  here is a complete example of a change office business plan template that you can use for FREE   .

Ok, so we’ve covered all the requirements for setting up a business change office. We also took it a step further by analyzing and writing a sample Bureau of Change marketing plan template supported by actionable guerrilla marketing ideas for the Change Office. So let’s move on to the business planning section.

Why start an exchange business?

The world is a global village and the citizens of a country can make a decision. travel and do business, study or play in another country. In addition to understanding how to communicate with the people of the host country, you will need to convert your money into their currency so that you can spend it freely while you are there.

Also, if you want to participate in international trade, you would need some world currencies and the dollar, the pound sterling and the euro come easily to mind.

This suggests that there really is a huge business opportunity for so many budding entrepreneurs looking to start a business. The truth is that if you decide to open a bureau de change / bureau de change in a commercial city in your country, you will surely make huge profits from the business as it is a really successful and viable business in the whole world.

Part of what you need to start this type of business is good business prowess; excellent customer service skills, good understanding of global currencies, start-up capital and required business license etc. exchange offices / bureaus will help you draft a draft;

An example of a currency exchange business plan template

• Industry overview

If you are interested in starting a business in the financial industry anywhere in the world, one of the businesses that you can start successfully with a little stress is to set up a foreign exchange company / bureau de change; a business where people can exchange one currency for another.

A non-bank foreign exchange company, also known as a bureau de change, is a business that competes with other finance-related companies that profit from selling currencies at an exchange rate that is higher than the rate. which it buys the same currency, and as well as any commissions or commissions that it may charge.

Once set, exchange rates ensure that they follow rates quoted by competitors and may be subject to government currency controls and other regulations relating to their country’s financial institutions.

Typically, a money changer / bureau de change is often located in places such as banks, travel agencies, airports, hotel centers, main train station and international trade centers, or any other. a place where there will likely be a market for people in need of currency conversion.

This is the reason why money changers are particularly visible in tourist centers, although currency can be exchanged in many other ways, both legally and illegally elsewhere. Some of the major market leaders in this sector include HSBC, Travelex, JPMorgan Chase Co., Wells Fargo and Bank of America.

The currency exchange service industry / bureau de change is indeed a big industry. and quite actively in countries like United States of America, Great Britain, France, Italy, Nigeria, Switzerland, Japan, China, Germany and Canada etc.

Beyond that and beyond, building a foreign exchange / business change bureau requires professionalism and an understanding of how foreign exchange works on a global platform. In addition, you will need to obtain the required certifications and licenses and meet the standard capitalization for such a business before you can open a bureau de change / bureau de change in the United States; the industry is heavily regulated to combat fraud and crime.

Summary of the Bureau De Change business plan

Alex Santiago Sons Bureau De Change, LLC is a registered and licensed currency exchange / bureau de change company that will be located in the heart of downtown Las Vegas. Nevada. The company will participate in transactions with currencies of the major countries of the world, whose currencies are traded in the United States of America.

We will serve as a bureau de change for businesses and individuals who wish to buy or sell foreign currency. We understand that setting up a versatile and standardized foreign exchange company can be difficult, which is why we are well trained, certified and equipped to operate flawlessly.

Alex Santiago, Sons, Bureau De Change, LLC is a client-oriented, results-oriented foreign exchange / foreign exchange company that will buy and sell currencies in major countries and provide a wide range of foreign exchange services at an affordable price. will in no way create a hole in the pockets of our customers.

We offer standard and professional forex services to all of our retail clients as well as businesses. We will do our best to meet and exceed the expectations of our customers when using our services.

At Alex Santiago Sons Bureau De Change, LLC, our clients’ interests will always come first, and everything we do is guided by our values ​​and professional ethics. We will make sure to hire professionals with extensive experience in the field of foreign exchange services and services. on the exchange of currencies with a significant bias in online trading in the Forex market.

Alex Santiago Sons of Bureau De Change, LLC will always demonstrate his commitment to sustainability, both individually and within the company, through active participation in our communities and the integration, where possible, of sustainable business practices. .

We will ensure our responsibility to the highest standards while meeting precisely and fully the needs of our customers.We will develop a working environment that offers a human and sustainable approach to earning a living and living in our world for our partners, our employees and our customers.

Our plan is to grow the company into one of the leading foreign exchange service / bureau de change brands in all of Nevada, as well as to be among the top 20 foreign exchange bureaus in the United States of America in the last 10 first years of full opening. Company.

It might sound like too much of a dream, but we hope it will certainly come true because we have done our research and feasibility studies and are very excited and confident that Las Vegas is the perfect place to start our bureau de change / bureau exchange rate before looking for customers from other cities in the United States of America.

Alex Santiago Sons Bureau De Change, LLC is a private registered business owned by Mr. Alex Santiago and his immediate family. Alex Santiago is an impeccable forex trader with adequate results to show it. He has over 15 years of experience in various positions in the financial advisory industry with a strong focus on forex in the United States of America. Mr. Alex Santiago graduated from the University of California at Berkeley with a degree in Accounting and Harvard University (Masters in Finance) and is a Chartered Accountant.

• Our products and services

Alex Santiago Sons Bureau De Change, LLC will be offering various types of services in the field of currency exchange / bureau de change services in the United States of America and of course globally. Our intention to open our foreign exchange business in Las Vegas, Nevada is to take advantage of the opportunities in the city.

We are well prepared to take advantage of the industry, and we will do so whatever US law allows us to achieve our goals, objectives and ambitions. Our business proposals are listed below:

• Trade Forex on behalf of our clients (corporate and private clients)
• Buy and sell currencies (currencies) in major countries around the world
• Provide other financial and Forex related advisory and advisory services

Our vision is to create a currency exchange service brand that will be the number one choice for individuals, small businesses and corporate clients in Las Vegas – Nevada. Our vision reflects our values: honesty, safety, service, excellence and teamwork.

• Our mission statement

Our mission is to provide professional, reliable and reliable money changer / money changer services that help individuals, startups, businesses, manufacturing companies and non-profit organizations with their currency and financial issues.

We will position the business to become one of the leading currency exchange service / bureau de change brands in all of Nevada, and rank among the top 20 money changers / bureau de change in the United States of America during the first 10 years of operation. …

• Our corporate structure

Alex Santiago Sans Bureau of Change, LLC is a foreign exchange / bureau de change company that intends to start small in Las Vegas, NV, but hopes to grow larger to compete profitably with leading brokerage firms in the industry such than in the United States and on the world stage.

We know it is important to build a strong business structure that can support the image of the world class business we want to own. That’s why we strive to hire only the best hands in our field.

We would normally be satisfied with two or three employees, but as part of our plan to create a standard office of exchange. a business in Las Vegas, Nevada, so we made plans to get there from the start.

The idea of ​​the type of service exchange office activity that we are going to create and the goals that we want to achieve is what we want to achieve. has indicated how much we are willing to pay for the best hands available in Las Vegas and beyond, if they are willing and able to work with us to achieve our trading goals.

At Alex Santiago Sons Bureau De Change, LLC, we’ll make sure to hire people who are skilled, hardworking and creative, results-oriented, customer-focused and willing to work to help us build a successful business that benefits all stakeholders. (owners, employees and customers).

In fact, the incentive agreement will be available to all of our senior executives and will be based on their results. for a period of five years or more in agreement with the Foundation Board of the company. In view of the above, we have decided to hire qualified and competent professionals to fill the following positions:

• General manager
• Forex traders / consultants

Administrator and HR manager

• Marketing and Sales Director
• Account manager / Reception manager

Roles and responsibilities

• Improves management effectiveness by recruiting, selecting, orienting, training, teaching, consulting and disciplining managers; transfer values, strategies and goals; distribution of responsibilities; planning, monitoring and evaluation of work results; develop incentives; climate development to provide information and opinions; Provide educational opportunities.
• Creates, communicates and implements the vision, mission and general direction of the organization, i.e. guiding the development and implementation of the overall strategy of the organization.
• Responsible for pricing and signing trade agreements
• Responsible for providing advice to the company
• Creates, communicates and implements the vision, mission and general direction of the organization, that is, leads the development and implementation of the overall strategy of the organization.
• Responsible for signing checks and documents on behalf of the company
• Measures the success of the organization

Forex Traders / Forex Consultants

• Responsible for Forex trading for the organization and for our clients on the company’s platform
• Manages activities such as buying and selling currencies in major countries around the world. very professional
• Responsible for ensuring that all foreign exchange transactions, whether cash transactions or online loan transactions, are recorded in the correct journal, vendor ledger, customer ledger, and general ledger general book
• Provides other Forex and financial related advice and advisory services
• Responsible for the supervision of the staff and administrative tasks of the organization
• Develops job descriptions using KPIs to manage customer performance i>
• Meet regularly with key stakeholders to verify the effectiveness of HR policies, procedures and processes.
• Maintains stationery by checking inventory; place and expedite orders; evaluation of new products.
• Ensures the operation of equipment by meeting preventive maintenance requirements; call for repair.
• Identifies the jobs to be recruited and manages the interview process
• Provide staff input to new team members
• Responsible for training, evaluation and evaluation of employees
• Responsible for organizing trips, meetings and appointments
• Updates professional knowledge by participating in training opportunities; read professional publications; maintain personal networks; participation in professional organizations.
• Monitors the proper functioning of the office.

Head of Marketing and Sales Department

• Identifies, prioritizes and contacts new partners, as well as business opportunities, etc.
• Identifies development opportunities; monitors development and contacts; participates in the structuring and financing of projects; ensures the realization of related projects.
• Draft winning documents, negotiate fees and rates in accordance with company policy
• Responsible for carrying out commercial research, marker surveys and feasibility studies for clients
• Responsible for monitoring implementation, defending client needs and communicating with clients
• Develops, implements and evaluates new plans to increase sales growth
• Documents all contacts and customer information
• Represent the company at strategic meetings
• Helps increase sales and business growth
• Responsible for the preparation of the financial statements, budgets and financial statements of the organization.
• creates reports based on information about financial transactions recorded by the accountant.
• Prepares an income statement and balance sheet using an audit report and records prepared by an accountant.
• Manage social analysis, development budgets and accounting reports; analyzes the financial feasibility of the most complex proposed projects; conducts marketing research to predict business trends and conditions.
• Responsible for financial forecasts and risk analysis.
• Maintains treasury, general ledger, and financial reports for one or more objects.
• Responsible for the development and management of financial systems and policies
• Payroll manager
• Ensures compliance with tax laws
• Manages all the financial transactions of the company
• Serves as the company’s internal auditor

Customer Service Manager / Front Desk Agent

• Greet guests and clients by welcoming them in person or by phone; respond to or direct requests.
• Ensures that all customer contacts (email, built-in hub, SMS or phone) provide the customer with a personalized customer service experience of the highest level
• Through interaction with customers over the phone, he seizes every opportunity to get the customer interested in the company’s products and services.
• Effectively and timely allocates administrative responsibilities assigned by the manager
• Keep up to date with any new information on the company’s products, advertising campaigns, etc. to ensure the provision of accurate and useful information to customers
• Receipt of packages / documents for the company
• Mail distribution in an organization
• Perform any other task according to my supervisor

SWOT Analysis of the Bureau De Change Business Plan

Alex Santiago Sons Bureau De Change, LLC hired an advisory and structuring specialist to help our organization build a well-structured foreign exchange company that can compete profitably in the highly competitive foreign exchange service industry in the United States and in the world in general. …

Part of the business consulting team working with our organization’s leadership to conduct a SWOT analysis for Alex Santiago Sons Bureau De Change, LLC. Here is a summary of the results of a SWOT analysis conducted on behalf of Alex Santiago Sons Bureau De Change, LLC;

Our main strength lies in the strength of our team; our workforce. We have a team that can do everything possible to make our clients value their money; a team trained and equipped to be attentive to detail and deliver great value when our clients use our services to trade with them

We are well positioned and we know that we will attract many clients from the first day we open our doors for business because we are determined to buy and sell currencies from around the world.

As a new money changer / bureau de change in Las Vegas, Nevada, it may take some time for our organization to enter the market and be accepted, especially by corporate clients in the bureau de change / bureau de change industry. already saturated; this is perhaps our greatest weakness.

In addition, we may not have the necessary cash flow to take advantage of the huge opportunities to purchase currencies permitted by US law when provided to us. Also, we may not have enough budgets to advertise our business the way we would like.

Besides the fact that our company is located in a city that receives a large number of visitors year after year, the opportunities in the service exchange service are enormous, considering the number of people, especially students, industry players. manufacturer, importers. and exporters, startups and, of course, businesses that cannot afford to do without the services of a foreign exchange / forex bureau.

As a standard and well positioned foreign exchange / forex bureau, we are well prepared and ready to take advantage of any opportunity that presents itself.

Some of the threats we are likely to face as a trading company operating in the United States are adverse government policies, the emergence of a competitor in our site of operations, and a global economic recession that generally affects the power of purchasing / purchasing power. There is virtually nothing we can do about these threats except to be optimistic that everything will work to our advantage.

BUSINESS PLAN MARKET ANALYSIS Bureau De Change

• Market trends

The forex exchange / trading service desk is really a very big industry and of course it is a sector that works for individuals and companies from different sectors.If you know the trend of forex / trading industry forex, agree with you that many companies in the United States and other parts of the world are actively involved in international trade, and international students travel to other countries to study the growing demand for currencies.

The truth is that a company in the manufacturing sector that depends on the raw materials of the international market, or a company that is actively engaged in import and export, and of course, foreign tourists and international students and the like cannot handle effectively their own business or integrate into a new country. without having the currency of the host country.

Another notable trend in the forex / Forex trading services industry is that the industry has grown impressively over the past five years as a significant reduction in unemployment has increased the revenue generated by the industry. In the future, increased product penetration and, of course, customer expansion will help the industry grow.

• Our target market

The demographic and psychographic makeup of those in need of foreign exchange / forex services extends to individuals, small businesses, and large corporations.

Alex Santiago Sons of Bureau De Change, LLC will initially serve small and medium-sized businesses. Mid-sized businesses, from start-ups to established businesses and individual clients, but that in no way prevents us from growing to be able to compete with other large exchange service companies in the United States.

As a standard and licensed forex exchange / trading office, Alex Santiago Sons Bureau De Change, LLC offers a wide range of forex related services, so we are well trained and equipped to serve a wide range of clients. based.

Our target market covers companies of different sizes and industries. We are entering the industry with a business concept that will allow us to work with individuals, small businesses and large corporations in and around Las Vegas – Nevada and other cities in the United States of America. Below is a list of companies and organizations for which we specifically develop our products and services;

• Manufacturing companies
• Non-governmental organizations
• Blue Chips Companies
• Corporate organizations
• International businessmen and businesswomen
• International students
• Importers and exporters
• International tourists and visitors
• Entrepreneurs and startups

Our competitive advantage

The level of competition in currency exchange services / bureau de change depends on the location of the business. The truth is, the players in this industry usually set up their offices in a business center that attracts international businessmen and women, tourists and international students.

We are well aware that being very competitive in the foreign exchange / currency service industry means that we need to be able to provide foreign exchange services from major countries around the world, as well as to get results and achieve good results. good profits. on investments, when our clients, individuals and businesses, give us the opportunity to trade the Forex market on their behalf.

Alex Santiago Sons Bureau De Cheng, LLC could become a newcomer to the bureau de change / bureau de change business. in the United States of America, but management and business leaders are considered gurus. These are the people who are the leading professional and licensed and highly skilled Forex traders in USA. It’s part of what we see as a competitive advantage.

Finally, our employees will be well taken care of and their benefits will be one of the best in our category (start-ups / Forex trading companies) in the industry, which means they will be more than willing to start a business. with us and help us achieve our goal. set goals and achieve all of our goals and objectives.

Business Plan Bureau de Change SALES AND MARKETING STRATEGY

We are aware of the increased competition within the United States of America Forex / Exchange Bureau; therefore, we were able to hire one of the best business developers for our sales and marketing.

Our sales and marketing team will be recruited on the basis of their vast experience in the industry and will receive regular training to be well prepared to achieve their goals and the overall objective of the organization. We will also ensure that our honesty and superior service speak volumes about us in the market; we want to create a standard office / office business that uses word of mouth from satisfied customers (individuals and businesses).

Our goal is to grow our currency exchange business. to become one of the 20 largest foreign exchange companies in the United States of America, so we have developed a strategy that will help us take advantage of the current market and become a major force to be reckoned with not only in Las Vegas, but also in other cities of the United States. States of America.

Alex Santiago Sons of Bureau De Change, LLC plans to use the following marketing and sales strategies to attract customers:

• Introduce our business by sending cover letters along with our brochure to businesses, schools with international students, manufacturing players, importers and exporters, international tourists and other key stakeholders in Las Vegas. and other towns in Nevada.
• Promote our business in financial and business magazines, newspapers, TV channels and radio stations.
• List our business on the yellow pages (in local directories)
• Attend relevant international and local forex, finance and business fairs, seminars and trade shows, etc.
• Create different packages for different categories of clients (start-ups and existing business organizations) in order to work with their budgets while bringing them profit, they hire our services to trade Forex on their behalf.
• Internet leverage to promote our business
• Activate direct marketing
• Encourage word of mouth marketing from loyal and satisfied customers
• Join local chambers of commerce to market our services

Business plan and advertising strategy of the Bureau De Change

We have been able to work with our brand and advertising consultants to help us and plan advertising and advertising strategies that will help us get to the heart of our target market. We intend to take the bureau de change / bureau de change industry by storm, so we have taken steps to effectively promote and publicize our trading company.

Below are the platforms we intend to use to promote and advertise Alex Santiago Sons Bureau De Change, LLC;

• Placement of ads in both print media (community newspapers and magazines)
• Sponsor relevant community events / programs
• We will use various online platforms to promote our business. This makes it easier for Internet users to access our site with just one click. We will use the Internet and social media such as; Instagram, Facebook, Twitter, YouTube, Google +, etc. To promote our brand
• Install our billboards at strategic locations in Las Vegas, Nevada.
• Take part in roadshows from time to time around Las Vegas – NV to promote our brand
• Distribute our flyers and flyers in targeted areas of Las Vegas, Nevada
• Make sure that all of our employees wear our branded shirts and that all of our vehicles are well branded with our company logo and others.

Source of income

Alex Santiago Sons Bureau De Change, LLC is formed with We are committed to maximizing profits in the Foreign Exchange / Bureau de Change industry and we will do our best to do our best to regularly attract businesses and individuals.

Alex Santiago Sons Bureau De Change, LLC will generate revenue by providing the following services to individuals, manufacturing companies, non-government organizations and businesses;

• Trade Forex on behalf of our clients. (both for companies and for individuals)
• Buy and sell currencies in major countries around the world
• Provide other foreign exchange and financial consulting and advisory services

Sales forecasts

The truth is that a business in the manufacturing sector depends on raw materials in the international market, or a business that is actively involved in imports and exports, and of course, foreign tourists and international students and the like cannot effectively manage their company or integrate into a new country without having currency of the host country.

We are well positioned to take the affordable market of Las Vegas, Nevada and on our online platforms and we are quite optimistic that we will achieve our goal of generating sufficient revenue / profit in the first six months of operation and expanding the ‘business and customer base outside of Las Vegas to other cities in Nevada and other US states.

We were able to critically examine the forex / forex market, we analyzed our chances in the sector and were able to come up with the following sales forecasts. Sales forecasts are based on information gathered in the field and on certain assumptions typical of startups in Las Vegas, NV…

Below is the sales forecast for Freeman Alex Santiago Sons Bureau De Change, LLC based on the location of our business and the wide range of foreign exchange services we will provide;

• first year:   $ 250,000
• Second year:   $ 550,000
• Third fiscal year:   $ 950,000

NB   : This projection is based on what is available in the industry and on the assumption that there will be no major economic crisis or natural disaster during the period specified. No major competitor will offer the same value-added services as us in one place. Please note that the above predictions may be lower and at the same time higher.

• Our pricing strategy

It is a fact that online and offline forex trading is driven by the demand for a particular currency, so prices cannot be fixed; Forex prices fluctuate regularly.

At Freeman Alex Santiago Sons Bureau De Change, LLC, we will keep our prices slightly below the mid-market rate (among operators through bureaux de change) for all of our customers, keeping our overheads low and collecting prepayments from companies that need our services. In addition, we will also offer special discounts to all of our customers on a regular basis.

• payment methods

Payment policy accepted by Alex Santiago Sons Bureau De Change, LLC is all inclusive as we are well aware that different customers prefer different payment methods depending on their preferences, but at the same time we will ensure that the financial rules and regulations are respected. The United Nations. States of America.

Below are the payment methods that Alex Santiago Sons of Bureau De Change, LLC will provide to its customers;

• Payment by bank transfer
• Cash payment
• Payment via POS
• Pay with a mobile money platform
• Pay by online bank transfer
• Payment by check

As part of the above, we have chosen banking platforms that will allow our client to pay for the purchase of agricultural products without any charge on his part. Our bank account numbers will be available on our website and in promotional material for customers who wish to deposit money or make an online transfer to purchase our currency.

Bureau De Change business plan Financial projections and costs

Setting up a foreign exchange / forex bureau can be profitable; this is because on average you are not expected to buy expensive machinery and equipment. Besides the working capital or capitalization required by the regulator, your main concern should be the amount required to provide standard office space in a good and busy business district, the amount required for office furniture and equipment. , the amount required to purchase the required software applications, the amount, must pay the bills, promote a business and obtain the appropriate business licenses and certifications.

Here is the financial projection and cost of launching Alex Santiago Sons Bureau De Change, LLC

• The total fee for registering a business in the United States of America is   $ 750.
• Basic insurance policies budget covers costs, permits and business license   $ 2,500
• The amount needed to purchase a suitable office space in the business district in 6 months (including redevelopment of the facility)   USD 40,000.
• Amount required for capitalization (working capital in different world currencies)   USD 50,000
• Cost of office equipment (computers, software applications, printers, fax machines, furniture, telephones, filing cabinets, security gadgets and electronics, etc.)   USD 5,000
• Cost of purchasing the required software applications (CRM software, accounting and bookkeeping software, payroll software, etc.)   USD 10,500
• The cost of launching an official website is   $ 600
• budget to pay at least three employees for 3 months plus utility bills of   $ 10,000
• additional expenses (business cards, signs, advertisements and promotions, etc.)   $ 2,500
• Miscellaneous:   USD 1,000

Based on the marketing study and feasibility report, we will need more than one hundred and fifty thousand nd (200,000) US dollars to successfully establish an average but standard currency exchange bureau in the United States of America. .

It is important to note that testing and evaluation costs will be high due to the large amount required as working capital.

Fund creation / start-up capital for Alex Santiago Sons Bureau De Change, LLC

Alex Santiago Sons Bureau De Change, LLC is a business that will be owned and operated by Alex Santiago and his immediate family. They are the only financial arm of the business, but can probably accommodate partners later, so they decided to limit their start-up capital to just three main sources.

These are the areas in which we intend to generate our seed capital;

• generate part of the start-up capital from personal savings
• source of concessional loans from family and friends
• Apply for a loan from my bank

NB    . We managed to get around   $ 50,000   . savings of $ 40,000 and a concessional loan from family members ($ 10,000) and we are in the final stages of securing a loan of $ 150,000 from our bank. All documents and documents have been duly signed and submitted, the loan has been approved and at all times our account will now be credited.

GROWTH OF THE BUREAU DE CHANGE COMPANIES: A strategy of sustainable development and expansion

The future of the business lies in the number of repeat clients who have the capabilities and skills of the employees, their investment strategy and the structure of the business. If all of these factors are missing in the business (business), then soon after the business closes it won’t be long.

One of our primary goals for founding Alex Santiago Sons Bureau De Change, LLC is to build a business that will survive on its own cash flow without having to inject funds from outside sources once the business is officially established. launched.

We know that one way to get approval and attract clients is to buy and sell foreign exchange services that are a little cheaper than what can be obtained on the open market, and we are well prepared for it. survive on lower profit margins for a while.

Alex Santiago Sons Bureau De Change, LLC will ensure that the appropriate framework, structures and processes are in place to ensure the well-being of our staff. Our corporate culture aims to move our business forward, and training and retraining our employees is at the top of our business strategy.

In fact, a profit sharing agreement will be provided to all of our senior executives, and it will depend on their performance for three years or more, as determined by the board of directors of the organization. We know that if this is done we can be successful in recruiting and keeping the best hands we can get in the industry; they will be more committed to helping us build our dream business.

Checklist / checklist

• Company name availability check:   complete
• Business registration:   complete
• Opening of corporate bank accounts with various US banks:   complete
• Opening of online payment platforms:   completed
• Application and obtaining of the tax identification number:   in progress
• Business license and permit application:   Completed
• Purchase of all forms of commercial insurance:   Completed
• Feasibility study:   completed
• Receive part of the start-up capital from the founder:   Completed
• Securing a standard office space in a commercial area:   finished
• Loan requests from our bankers:   in progress
• Planning of activities   :   Co mpleted
• Compilation of employee handbook:   complete
• Drafting of contractual documents:   in development
• Creation of the company logo:   finished
• Graphic design and packaging printing Marketing / promotional material:   finished
• Recruitment:   in progress
• Purchase of the necessary software applications, furniture, office equipment, electronics; renovation of equipment and tools:   in progress
• Creation of an official website for the company:   In progress
• Strengthening of corporate awareness (Business PR):   in progress
• Occupational health and safety conditions:   ongoing
• Establishment of business relationships with suppliers and major industry players:   ongoing

Anna Cornet - Author

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Besoin d'un modèle de Business plan pour votre projet de bureau de change

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• Outils financiers

Les modèles sont souvent des cadres qu’on essaye d’imposer à tout le monde, alors que chaque projet d’entreprise est unique. Du coup, on se retrouve à compléter des sections dont on a pas toujours besoin et à faire des calculs qui ne nous correspondent pas. Aussi, on passe beaucoup de temps dessus alors qu’on aurait d’autres choses à faire.

On ouvre un document Word et/ou Excel censé nous aider à calculer notre rentabilité, à créer nos états financiers, notre business plan… et on se retrouve avec une usine à gaz inexploitable. On ne sait pas à quoi correspond chaque chiffre, le document ne correspond pas à notre projet et on ne comprend pas comment le présenter.

Viennent alors les outils du monde de la finance, souvent très chargés en fonctionnalités et pas toujours adaptés à la création de business plan. Logiciels souvent incompris et onéreux du fait de leurs multiples activités, ils proposent des fonctions de facturation tout comme de comptabilité, et sont pour nous totalement surdimensionnés.

C’est pour cela que nous avons crée SUPERNOVA

Un outil simple pour créer son business plan.

Questionnaire personnalisé

Simulateur de rentabilité, scoring de votre projet, modèles et données intelligentes, exports financiers et business plan.

Prêt à décoller ? C'est simple, rapide, intuitif

Vous souhaitez ouvrir un bureau de change .

Vous possédez déjà une solide expérience dans le secteur de la banque et de la finance et disposez de bonnes connaissances sur la transaction des devises. Vous envisagez désormais d’ouvrir votre propre bureau de change. En élaborant un business plan avant la création de votre entreprise, vous mettez toutes les chances de votre côté pour garantir son succès.  

Ce document doit déterminer toutes les étapes à suivre et prévoir vos obligations : analyse du marché, autorisation d’exercer par l’ACPR, capital de départ, enregistrement de la société, services de change (euro, dollar…), stratégie d’entreprise, marketing, vente de produits annexes…

Pour convaincre les investisseurs de vous accorder un financement, vous devrez présenter un business plan solide et pertinent. Les modèles à télécharger gratuitement sur Internet sont souvent généralistes et inadaptés. Optez plutôt pour la solution Supernova, un business plan sur mesure pour lancer une activité de bureau de change.

Que doit contenir un bon business plan pour la création d’un bureau de change ?

Pour vous aider à concevoir un modèle de prévisions financières solides pour votre projet de bureau de change, nous vous détaillons ici nos bonnes pratiques pour élaborer un plan de développement qui vous sera vraiment utile.

Parce que vous avez besoin de convaincre les entreprises partenaires, la banque, les investisseurs et d’avoir une vision claire de vos objectifs, prenez le temps de lire attentivement la méthode inédite Supernova : les prévisions financières avant la rédaction du business plan.

Parce que votre pitch, l’explication de votre étude de marché, toute cette partie qui concerne votre idée de bureau de change est ce qui vient après l’aspect concret. À savoir :

• Qu’est-ce que je vends   ?  Quelles devises [euro, dollar…] ? Quels moyens de paiement ? Autres services et produits [réservation de devise, travellers chèques] ?
• A qui   ?   Est-ce que je cible des touristes qui viennent en vacances ? Est-ce que je m’adresse à des nationaux qui voyagent ?
• Combien   ?   Quels taux de change appliquez-vous ? Quels frais d’opération ? À combien s’élève votre commission ?
• En quelles quantités   ?   Combien de devises proposer ? Y a-t-il un montant minimum ou maximum ? Combien de bureaux de change ouvrir ?
• Combien ça me coûte   ?   Acquisition d’un local, capital et ressources investis, recrutement d’une équipe, prix d’achat des devises, réservation en ligne…

En d’autres termes : testez par les chiffres votre modèle d’entreprise, avant de vouloir la mettre en forme et de la présenter dans votre business plan.

Contrairement à d’autres méthodes, chez Supernova, nous recommandons de commencer par l’analyse prévisionnelle financièrequi vous permet d’avoir une vision claire et palpable de votre projet d’ouverture de bureau de change. Cette analyse préliminaire vous renseigne immédiatement sur la viabilité de votre entreprise et de son modèle d’affaires. Vous y parlerez plan de financement, bilan, compte de résultat. C’est cela qui vous apportera tous les éléments nécessaires pour pouvoir détailler ensuite votre business plan sur la partie rédactionnelle.

Pour créer la partie délicate du modèle de prévisions financières, nous vous recommandons une approche lucide. Distinguez nettement tout ce qui est incertain (le chiffre d’affaires de votre entreprise de change et tout ce qui le compose) de ce qui est certain (vos dépenses, investissements et ressources de départ, salaires, coûts unitaires, etc.)

Cela vous permettra de vérifier en un coup d’œil le chiffre d’affaires minimum que vous allez devoir effectuer, et celui qui vous permettra de commencer à bien vivre de votre activité.

À Supernova, on soutient les projets d’entreprises qui facilitent les échanges de devises entre les pays et simplifient les déplacements internationaux. Mais on est raisonnable : on vous conseille d’être le plus pessimiste possible, prudent et pragmatique avant la rédaction de votre business plan. Nous croyons en vous et en la réussite de votre modèle d’affaires, mais mieux vaut sous-évaluer de 10 % vos prix et surévaluer vos coûts de 20 % pour n’avoir que de bonnes surprises.

Certains équipements pour votre projet d’entreprise ne sont pas immédiatement nécessaires, ou vous allez pouvoir vous les offrir dans une version plus abordable. Ne prévoyez donc pas les meilleurs équipements pour le début de votre activité, juste ceux dont vous avez besoin pour satisfaire vos clients avec des services de qualité !

Plus en détail, la partie financière de votre business model pour votre projet de bureau de change va demander :

De lister vos produits ou services (retrait d’argent en devises étrangères, service de réservation de devises, offre sur mesure…) que vous vendez, avec le prix unitaire (en coûts directs) tout en parlant hors taxes (toujours !).

De lister vos dépenses liées au lancement et frais récurrents (les dépenses fixes) : loyer, frais bancaires, conseil juridique, etc. Listez vos investissements, les salaires de votre équipe, les apports faits par les investisseurs (vous, par exemple !) sans oublier les emprunts.

Prenez votre temps et assurez-vous de ne rien oublier avant la rédaction de votre business plan ! Vous allez utiliser tout cela pour calculer un seuil de rentabilité sur lequel vous baserez toute votre activité. D’où l’intérêt d’être pessimiste dans ses coûts/frais et ses gains/ventes. Lorsque l’on est en pleine création d’une entreprise, il ne faut pas se laisser (trop) griser par l’excitation de l’idée.

Seuls les chiffres sont fiables et vous permettront de bâtir une vraie stratégie d’entreprise pour monter votre projet !

Maintenant que votre modèle de prévisions financières est bien calibré et dans votre tête, vous allez facilement pouvoir détailler votre business plan. Vous savez déjà combien vous devez générer de chiffre d’affaires pour couvrir vos dépenses et vous verser un salaire.

Vous avez besoin de présenter votre projet d’entreprise pour convaincre les futurs investisseurs et partenaires du succès de votre modèle d’affaires.

Que cela soit pour créer un business plan pour votre nouveau projet de bureau de change ou pour la création d’un site internet de vente en ligne de devises étrangères, votre modèle va être le suivant :

6 parties détaillant le projet, synthétisant puis entrant dans le détail de l’étude de marché, des opérations et stratégies au cours de la 1re année, les équipes et toute la partie concrète des chiffres.

Votre plan financier s’insérera au cours des six parties que nous vous détaillons ici :

• Page de garde avec   : Nom de la société pour votre projet d’entreprise (nom faisant référence à une devise [euro, dollar…] ou à un service que vous offrez). Pitch de présentation du projet d’entreprise.
• La synthèse qui résume le besoin auquel vous allez répondre avec votre offre, la solution que vous allez apporter à vos clients, la cible et les chiffres clés (CA, croissance moyenne, taux de profit, etc.)
• Le marché qui détaillera toute l’analyse de marché (vos clients potentiels, vos concurrents) et surtout qui explique pourquoi vous et pas d’autres entreprises.
• Les opérations , à savoir tout ce que vous avez déjà mis en œuvre et comptez faire pour développer votre modèle d’affaires. Toute votre stratégie d’entreprise, marketing ou administratif et toutes les prévisions financières de la 1re année.
• Vous présenterez ensuite l’équipe avec le ou les fondateurs de la société, leur rôle et bien entendu les éventuels collaborateurs avec compétences et missions.
• Enfin les finances où vous dresserez le compte de résultat prévisionnel, les indicateurs prévisionnels (croissance, vos besoins en fonds de roulement, etc.), le bilan prévisionnel pour déterminer si votre affaire est durable et enfin le plan de trésorerie avec son plan de financement et les mouvements bancaires.

Comme vous le voyez, c’est beaucoup plus simple de remplir son business plan si on en sait plus que « je vais monter un nouveau projet de bureau de change en France, simple, rapide et transparent pour mes clients » ! Avec les chiffres bien en tête, vous pourrez plus facilement remplir les éléments clés de votre business plan.

Attention cependant à la tentation des modèles de business plan gratuits à télécharger. Encore une fois : votre projet de bureau de change est unique et vous prenez le risque d’avoir des modèles qui oublient des éléments clés de votre secteur d’activité.

Supernova vous propose justement une solution de business plan intelligente qui préremplit les tableaux nécessaires à votre projet de bureau de change avec des données fiables qui ne concernent QUE votre activité.

• Business plan pour agence d’assurance
• Business plan pour banque
• Business plan pour centre d’appel
• Business plan pour courtier
• Business plan pour la comptabilité / finance
• Business plan pour secrétaire indépendante
• Business plan traducteur

Alors ? Vous vous lancez ?

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Key Points on the Process and Requirements for Obtaining a Bureau de Change Licence in Nigeria

• What is a Bureau de Change?

A Bureau De Change (“BDC”) is a registered business licensed by the Central Bank of Nigeria (“CBN”) to carry out or facilitate the sale, purchase or exchange of foreign currencies. A BDC is defined by the CBN’s REGULATORY AND SUPERVISORY GUIDELINES FOR BUREAUX DE CHANGE OPERATIONS IN NIGERIA 2024 (“CBN Guidelines”) as a company that is licensed to carry on small scale foreign exchange business in Nigeria and whose sole object is the carrying on of such business on a stand-alone basis.

According to the 2024 CBN Guidelines, a BDC may do the following:

a. Acquire foreign currency from the sources listed in Section 5.0 of the CBN Guidelines.

b. Sell foreign exchange as detailed in Section 6.0 of the CBN Guidelines.

c. Open foreign currency and Naira accounts with Commercial or Non-Interest Banks (CNIBs).

d. Collaborate with its bankers to issue prepaid debit cards.

e. Serve as cash-out point for International Money Transfer Operators (IMTOs).

f. Engage in any other permissible activity that the CBN may specify.

It is an offense to carry on the business of a BDC in Nigeria except with prior authorization of the CBN.

Please note that there two tiers of BDC licence under the CBN Guidelines: Tier-1 and Tier-2 licences with N2 Billion and N500 Million share capital as part of their respective application requirements. The key differences between the tiers of BDC licences are as follows:

• Who is Eligible to own a BDC in Nigeria?

The following shall not be allowed to participate in the ownership of BDCs, directly or indirectly:

a. Commercial, merchant, non-interest and payment service banks.

b. Financial holding companies.

c. Other Financial Institutions (OFIs), including International Money Transfer Operators and payment service providers.

d. Serving staff of financial services regulatory and supervisory agencies.

e. Serving staff of regulated financial services providers.

f. Government at all levels.

g. Public officers as defined in the 5th Schedule Part IV of the Constitution of the Federal Republic of Nigeria.

h. Non-Governmental Organizations.

i. Cooperative societies.

j. Charitable organizations.

k. Academic and religious institutions.

l. Non-Nigerian natural persons.

m. Non-resident non-regulated companies.

n. Telecommunication services providers.

o. Sanctioned individuals and entities.

p. A shareholder in another BDC (whether directly or indirectly).

q. Any other persons that the CBN may from time to time designate.

3. What are the financial requirements for obtaining a BDC licence?

  The financial requirements for the BDC applications for AIP and Final Licence are as follows:

[a] Minimum paid-up share capital – N35 million share capital (this amount is to be deposited with CBN in bank draft and will be refunded upon the grant of the final licence, with interest, if any);

[b] Non-refundable application fee – N100,000 (payable at the AIP application stage);

[c] Non-refundable licensing fee – N1,000,000 (payable at the Final Licence application stage)

[e]Non-refundable annual licensing renewal fee – N 250,000 [payable not later than 30 days after the end of each calendar year]

[f] Non-refundable change of name fee – N100,000 (payable to CBN before any change of business name at the CAC).

[g] Solicitor’s fees for the incorporation at CAC and processing the applications for AIP and final licence to CBN.

[f] Miscellaneous expenses for preparing feasibility report or business plan, the AML/CFT Policy and Compliance Manual, the CAC registration costs, etc.

4. What is the timeline for completion of the application process?

The AIP is usually granted between 3 to 6 weeks after submission of application all other things being equal. The final licence is granted after 6 months of the grant of the AIP. The registration of the company takes around 3 to 6 weeks but usually completed within the 6 months after the grant of the AIP before submitting application for the final licence.

5. What are the Requirements for BDC licence?

The application for BDC licence is processed in two stages, namely: the Approval-In-Principle (“AIP”) stage (usually for 6 months); and the Final Licence stage (which must be applied for not later than 6 months after the grant of the AIP).

Please note also o proposed BDC shall incorporate/register its business name with the Corporate Affairs Commission (“CAC”) until an AIP has been obtained from the CBN, a copy of which shall be presented to the CAC. The licensing requirements for the two stages differ but below is the highlight of the requirements:

(a) A formal application to the CBN Governor to grant the promoters an AIP to carry on the business of a BDC in Nigeria with Evidence of Name Reservation with the CAC. The application should be addressed to the Director Financial Policy and Regulation Department (FPRD), Central Bank of Nigeria PMB 0187, Garki, Abuja.

The promoters of the BDC shall attach the following documents to their application:

(b) A non-refundable application fee of N1,000,000 (for Tier-1 licence) or N250,000 (for Tier-2 licence).

(c) Evidence of payment of the prescribed minimum capital  in the sum of of N2,000,000,000 (for Tier-1 licence) or N500,000,000 (for Tier-2 licence) made through RTGS to a designated account in the CBN . Please note that the CBN shall refund this amount with interest after the proposed institution has obtained its final licence.

(d) A copy of business plan or feasibility report containing the relevant information;

(e) A copy of the draft Memorandum and Articles of Association of the proposed BDC.

(f) A letter of intent to subscribe to the shares of the proposed BDC signed by each subscriber.

(g) A List of proposed shareholders in tabular form, showing their email, business and residential addresses; names and addresses of their bankers, their bank verification numbers (BVNs) for individuals or tax identification numbers (TINs) for corporates, and percentage shareholding;

(h) Satisfactory, verifiable, and acceptable evidence of capital contributed by each of the prospective shareholders of the proposed BDC;

(i). Notarized irrevocable capital refund mandate;

(j) Evidence of payment of non-refundable application fee made through the Real Time Gross Settlement System (RTGS) to a designated account in the CBN;

(k) List of proposed directors in tabular form, showing their email, business and residential addresses, names and addresses of their bankers, and their BVNs;

(l) List of companies/businesses related to the proposed shareholders and directors, if any, indicating the nature of the relationship and size of shareholding where applicable;

(m) Draft copy of the Memorandum and Articles of Association prepared using the standardized template attached as Appendix 2.

(n) For each significant prospective shareholder that is a natural person , the following must be provided:

i. Personally signed letter of intent to invest in the proposed BDC, addressed to the Director, Financial Policy and Regulation Department;

ii. Personally signed and dated Curriculum Vitae (CV);

iii. Personally completed, signed and dated Questionnaire for Major Shareholders and Appointees to Board and Management Positions (see Appendix 3 of the CBN Guidelines);

iv. Copy of valid means of identification;

v. Bank verification number;

vi. Notarised statement of net worth;

vii. Tax clearance certificate of the last three (3) years;

viii. Letter(s) from bankers, indicating the status of any facility extended to the shareholder;

ix. Credit reports from at least two (2) private credit bureaux on the shareholder;

x. For shareholders resident in Nigeria, a certificate/statement of good conduct from the Nigerian Police Force;

xi. For non-resident shareholders, a certificate/statement of good conduct from the police service (or other appropriate authority) in the country of residence;

xii. Evidence of share capital contribution;

xiii. Explanation of the source of funds used for share capital contribution;

xiv. Confirmation of the shareholder’s direct and indirect shareholding interest in other CBNregulated financial institutions; and

xv. A statement clarifying the interest represented by the shareholder.

(o) For institutional shareholders , promoters shall forward the following additional documents:

i. Profile of the investor(s);

ii. Certificate of Incorporation, Status Report, MEMART, and CTC of other relevant incorporation documents issued by the CAC;

iii. Resolution of shareholders approving the decision to invest in the equity shares of the proposed BDC;

iv. Names and addresses (business and residential) of owners, directors and their related companies, if any;

v. Audited financial statements of the last three (3) years;

vi. Tax Clearance Certificate of the last three (3) years;

vii. Names and details of the beneficial owners of the company;

viii. Names, addresses, profiles, and bank details including BVN and/TIN of the beneficial owners of the company;

ix. A statement confirming its direct and indirect shareholding interest in any other CBN regulated financial institution(s) if any; and

x. “i – ix” above for any significant corporate shareholder of the investor company (i.e. a corporate investor holding up to 5% of the shares of the BDC company).

(p) For regulated foreign institutional investors, promoters shall forward the following documents in addition to those required in ‘x’ above:

i. An approval or a ‘no objection’ letter from the appropriate regulatory authority in the home country; and

ii. Certificate of Capital Importation (CCI) on the imported capital.

(q) All requirements detailed in the CBN’s Guidelines for Licensing of Banks and Other Financial Institutions – Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing of Weapons of Mass Destruction, including:

i. Completed and personally signed Beneficial Owners Declaration Form (attached as Appendix 4).

ii. Notarised statement of net-worth for all beneficial owners.

iii. Curricula vitae of beneficial owners.

iv. Draft AML/CFT/CPF compliance policy/manual, which shall at a minimum cover: (a). Compliance structure including designation and status of compliance officer; (b). Employee screening and monitoring; (c). Customer identification and verification; (d). Customer due diligence measures; (e). ML/TF/PF Risk Assessment; (f). AML/CFT/CPF Training of the board, senior management and other employees; (g). Independent assessment of the AML/CFT/CPF Programme; and (h). Suspicious transaction monitoring, reporting and record keeping.

(r) For each proposed director, the following must be provided: (i). Personally signed letter of consent to serve as director of the proposed BDC, addressed to the Director, Financial Policy and Regulation Department; (ii). Personally signed and dated Curriculum Vitae (CV); (iii). Personally completed, signed and dated Questionnaire for Major Shareholders and Appointees to Board and Management Positions (see Appendix 3 of the CBN Guidelines); (iv). Copy of valid means of identification; (v). Bank verification number; (vi). Notarised statement of net worth; (vii). Tax clearance certificate of the last three (3) years; (viii). Letter(s) from bankers, indicating the status of any facility extended to the director; (ix). Credit reports from at least two (2) private credit bureaux on the director; (x). Three (3) letters of reference from persons of reputable standing in Nigeria; (xi). For directors resident in Nigeria, a certificate/statement of good conduct from the Nigerian Police Force; (xii). For non-resident directors, a certificate/statement of good conduct from the police service (or other appropriate authority) in the country of residence; (xiii). A statement clarifying other directorships held by the director; (xiv). Confirmation of the director’s direct and indirect shareholding interest in other CBN regulated financial institutions; and (xv). A statement clarifying the interest the director will represent on the board.

s. Organisational structure, showing functional units, responsibilities, reporting relationships and grade (status) of heads of departments/units;

t. Draft Shareholders’ Agreement providing for disposal or transfer of shares as well as authorisation, amendments, waivers, and reimbursement of expenses, among others;

u. Draft manuals and policies, including: i. Enterprise-wide Risk Management Framework; ii. Whistle Blowing Policy; iii. Code of Ethics and Business Conduct; iv. Business Continuity Plan; v. Operational Manual; vi. Treasury Manual; vii. Board and board committees’ Charters; viii. The draft Business Continuity Plan of the proposed BDC; ix. The proposed training programme for Board, management and staff; x. Management succession plan; xi. The organisational structure of the BDC, setting out in detail, the functions and responsibilities of the top management team; xii. Franchising Policy (for proposed Tier 1 BDCs only); and xiii. Internal Control Policy; and

v. Any other documents/information that the CBN may require from time to time

After consideration of the application and the above supporting documents, the CBN may grant an AIP which usually lasts for 6 months.

Upon the grant of the AIP, the promoters may then proceed to register the BDC company with the CAC.

Not later than six (6) months after the grant of AIP, the promoters of a proposed BDC are required to submit application for the grant of a final licence to the Governor of CBN, Abuja, and accompany same with the following documents:

[i] Evidence of payment of a non-refundable licensing fee of N5,000,000 (for Tier-1 licence) or N2,000,000 (for Tier-2 licence);

[ii] The names, designations and signed Curricula Vitae (CV) of the proposed members of the top management of the BDC.

[iii] Evidence of incorporation of the BDC company with CAC;

[iv] Evidence of having suitable office accommodation for the operation of the proposed BDC.

[v] Any other conditions as may be specified in the CBN’s AIP letter

Thereafter, the Governor may grant a final licence to the BDC subject to the fulfillment of certain conditions. The BDC shall comply with those conditions to the satisfaction of the CBN within such period as the CBN may specify.

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For further information, contact us via 09067842241 or [email protected].

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THE NEED FOR COMPANY’S POLICY ON USE OF SOCIAL MEDIA AS PART OF EMPLOYMENT CONTRACT

Synopsis of the Issues Discussed on Probation, Confirmation, Appraisal and Promotion of Employees at the Employment Law Summit, Lagos hosted by Koriat & Co.

Red mangroves line the shore at Oleta River State Park, Thursday, Aug. 22, 2024, in North Miami Beach, Fla. (AP Photo/Marta Lavandier)

Joshua Gross, right, and his brother Joseph, of Miami, prepare to launch their kayaks off the beach at Oleta River State Park, Thursday, Aug. 22, 2024, in North Miami Beach, Fla. (AP Photo/Marta Lavandier)

Javier Fernandez, of Hollywood, rides on a mountain bike trail at Oleta River State Park, Thursday, Aug. 22, 2024, in North Miami Beach, Fla. (AP Photo/Marta Lavandier)

Families enjoy the beach at Oleta River State Park, Thursday, Aug. 22, 2024, in North Miami Beach, Fla. The park is Florida’s urban park. A proposal by the Florida’s Department of Environmental Protection to build new sports facilities, hotels, and glamping sites at eight state parks across the state has drawn a wave of opposition, not just from nature lovers and birdwatchers but also from members of Governor Ron DeSantis’ Cabinet. (AP Photo/Marta Lavandier)

A boat docks near the beach at Oleta River State Park, Thursday, Aug. 22, 2024, in North Miami Beach, Fla. (AP Photo/Marta Lavandier)

Tristan Martin and his girlfriend Lilly Ortega of Miami, go fishing on their day off at Oleta River State Park, Thursday, Aug. 22, 2024, in North Miami Beach, Fla. (AP Photo/Marta Lavandier)

Bathers enjoy the warm water at Oleta River State Park, Thursday, Aug. 22, 2024, in North Miami Beach, Fla. (AP Photo/Marta Lavandier)

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TALLAHASSEE, Fla. (AP) — The golf course is not a threatened species in the Sunshine State — but the Florida scrub-jay is.

And advocates are warning that life for the small blue and gray birds and many other imperiled species could get much harder if Gov. Ron DeSantis’ administration follows through on a proposal to build golf courses, pickleball courts and 350-room hotels at state parks from Miami to the Panhandle.

State parks “are the last strongholds for a lot of wildlife in rapidly urbanizing communities in Florida,” said Julie Wraithmell, executive director of Audubon Florida.

“They have an outsized importance — not just to wildlife but also as places where Floridians and visitors can continue to see what Florida was like,” she said. “It’s the best of Florida.”

DeSantis has enjoyed rock solid support from the Republicans who dominate state politics. It has been rare for DeSantis to get pushback on anything from GOP lawmakers, and he has a reputation for seeking vengeance when they do.

But it appears a political line in the sand is being drawn after DeSantis’ administration announced plans this week to carve out golf courses and pickleball courts in Florida’s beloved state parks.

Unlike the issues of abortion, LGBTQ rights, race and guns that have divided voters, state parks apparently hold a place in the hearts of Floridians regardless of party. The state park system has received national recognition for years, and people are resistant to change the protected lands they enjoy.

The proposal announced by Florida’s Department of Environmental Protection to build new sports facilities, hotels and glamping sites at nine state parks across Florida has drawn a wave of opposition, not just from nature lovers and birdwatchers but also from members of DeSantis’ Cabinet, a Republican member of Congress and conservative state lawmakers. That includes outgoing Republican Senate President Kathleen Passidomo.

“Our vision (for state parks) did not contemplate the addition of golf courses and hotels, which in my view are not in-line with the peaceful and quiet enjoyment of nature,” Passidomo posted on X. “From what I know at this time, the proposal should not move forward in its current form.”

A spokesperson for DeSantis defended the plans — which are not final — and touted the administration’s investments in protecting and conserving the state’s natural resources.

“Teddy Roosevelt believed that public parks were for the benefit and enjoyment of the people, and we agree with him,” press secretary Jeremy Redfern said. “But it’s high time we made public lands more accessible to the public.”

The Department of Environmental Protection did not respond to requests for comment from The Associated Press.

All of the parks slated for development are located near heavily visited tourist destinations, including Miami, Tampa, Panama City and St. Augustine.

Florida’s state park system is a bastion of wildness in a state where vast stretches of sugar sand beaches and mangrove forests have long given way to condos, motels and strip mall souvenir shops.

Advocates say places like Topsail Hill Preserve State Park near Destin are literal beacons on a hill — the preserve is known for its 25-foot high sand dunes that tower over a stretch of the Panhandle known for its spring break destinations and military installations.

Eric Draper, a former head of the Florida Park Service, said Topsail is one of the last undeveloped stretches of Florida’s Gulf Coast.

In that part of the state, Draper said, “you can stand on the beach, you look right, you look left, and you just see a lot of condos and developments and houses. But this is one place that you can stand and look for three miles and not see any development.”

Under the new plans, Topsail would get up to four new pickleball courts, a disc golf course and a new hotel with a capacity of up to 350 rooms — a scale of development that Draper said is more in line with a conference center than a quiet beach retreat.

Another proposal is for a golf complex at Jonathan Dickinson State Park in Martin County on the state’s southeast coast north of West Palm Beach. Building the golf courses would entail removing a boardwalk and observation tower as well as relocating the residences and offices of park staff, as well as existing cabins for visitors.

A change.org petition targeting the would-be golf complex at Jonathan Dickinson had netted more than 60,000 signatures as of Thursday afternoon.

It is not the first time a Republican administration has raised the idea of leveraging more revenue from state parks by providing golf, lodging and other attractions. But past ideas were quickly dropped after public opposition.

In 2015, then-Gov. Rick Scott’s administration floated plans to allow cattle farmers to graze their herds and loggers to harvest timber from park lands.

Legendary former professional golfer Jack Nicklaus has long lobbied state officials to underwrite his push to build golf courses in state parks, efforts that fizzled following public pushback.

Wraithmell, the head of Audubon Florida, said she hopes state officials will listen to the Floridians who plan to pack public meetings next week to weigh in on the proposals.

“Absolutely there is demand for more people to enjoy state parks,” she said. “The solution is not to try to cram as many people into a park as we can .... The solution is to create more state parks.”

This story was first published on Aug. 22, 2024. It was updated on Aug. 23, 2024, to correct that there are nine state parks included in the proposal, not eight.

___ Associated Press reporter Brendan Farrington in Tallahassee contributed to this story.

Kate Payne is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.

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Your Simple Guide to Personal Finance and Financial Abundance   (Here’s the book you never had in class)    How to Write a Bureau De Change Business Plan Chapter 1: Introduction to Bureau De Change Business Overview of the Bureau De Change industry Importance of a business plan Chapter 2: Executive Summary A concise summary of the business plan Key components and objectives Chapter 3: Company Description Background information on the Bureau De Change business Legal structure and ownership details Chapter 4: Market Analysis Identification of target market segments Analysis of competition and market trends Chapter 5: Services and Products Description of the currency exchange services offered Additional services, such as money transfers or travel-related services Chapter 6: Pricing Strategy Determining competitive exchange rates Considerations for fees and commissions Chapter 7: Marketing and Sales Strategy Marketing channels to reach customers Sales techniques and customer acquisition strategies Chapter 8: Organizational Structure and Management Roles and responsibilities of key team members Staffing requirements and recruitment strategies Chapter 9: Operational Plan Location and facilities requirements Operational processes for currency exchange transactions Chapter 10: Technology and Systems Required hardware and software systems Security measures for handling financial transactions Chapter 11: Risk Management Identification and assessment of potential risks Strategies for mitigating risks, such as fraud or exchange rate fluctuations Chapter 12: Financial Projections Projected revenue and expenses Break-even analysis and profitability forecast Chapter 13: Start-up Costs and Funding Calculation of initial investment requirements Funding options, such as loans or investment partners Chapter 14: Implementation Timeline Detailed timeline for setting up the Bureau De Change business Milestones and key activities Chapter 15: Legal and Regulatory Compliance Overview of applicable laws and regulations Licensing and permit requirements Chapter 16: SWOT Analysis Identifying strengths, weaknesses, opportunities, and threats Strategies to capitalize on strengths and opportunities while addressing weaknesses and threats Chapter 17: Marketing Plan Branding and positioning strategies Advertising and promotional activities Chapter 18: Customer Relationship Management Strategies to build and maintain customer relationships Loyalty programs and customer feedback mechanisms Chapter 19: Competitive Analysis Comparative analysis of competitors' strengths and weaknesses Differentiation strategies Chapter 20: Financial Management Bookkeeping and accounting processes Financial controls and reporting mechanisms Chapter 21: Exit Strategy Options for exiting or selling the business in the future Succession planning Chapter 22: Appendix Supporting documents, such as resumes, licenses, permits, and market research data Chapter 23: Industry Trends and Future Outlook Emerging trends in the Bureau De Change industry Anticipated challenges and opportunities Chapter 24: Economic Factors and Exchange Rate Analysis Factors influencing currency exchange rates Strategies to manage exchange rate risks Chapter 25: Customer Segmentation and Targeting Defining customer segments and their specific needs Tailoring marketing strategies to reach each segment Chapter 26: Customer Acquisition Channels Online channels (websites, social media, etc.) Offline channels (partnerships, advertising, etc.) Chapter 27: Customer Retention Strategies Building customer loyalty and repeat business Personalized services and ongoing customer engagement Chapter 28: Staff Training and Development Training programs to enhance employee skills Ensuring compliance with regulatory requirements Chapter 29: Competitive Pricing Strategies Pricing strategies to remain competitive Balancing profitability with customer value Chapter 30: Sales Forecasting and Performance Tracking Tools and techniques for sales forecasting Regular performance monitoring and adjustment strategies Chapter 31: Operational Efficiency and Process Optimization Streamlining processes to improve efficiency Automation and technology integration Chapter 32: Risk Mitigation Strategies Fraud prevention measures Insurance coverage for potential risks Chapter 33: Financial Analysis and Key Metrics Financial ratios and performance indicators Analysis of profitability, liquidity, and solvency Chapter 34: Funding Options and Investor Pitch Identifying potential investors Crafting a compelling investor pitch Chapter 35: Business Expansion Strategies Scaling the business through new locations or services Partnerships and collaborations for growth Chapter 36: Customer Feedback and Continuous Improvement Gathering customer feedback and implementing improvements Monitoring customer satisfaction and loyalty metrics Chapter 37: International Regulatory Compliance Compliance with anti-money laundering (AML) and know your customer (KYC) regulations International trade and financial reporting requirements Chapter 38: Sustainability and Corporate Social Responsibility Implementing sustainable practices in the business Contributing to the community and environmental initiatives Chapter 39: Crisis Management and Business Continuity Developing a crisis management plan Ensuring business continuity during unforeseen events Chapter 40: Exit Planning and Succession Strategies for exiting the business or passing it on to a successor Valuation methods and negotiations Chapter 41: Legal Considerations for Expansion Legal requirements for expanding to new locations or offering new services Intellectual property protection and contracts Chapter 42: Technological Advancements and Innovation Adopting new technologies in the Bureau De Change industry Innovation strategies to stay ahead of competitors Chapter 43: Employee Engagement and Motivation Employee recognition programs Building a positive work culture Chapter 44: Monitoring and Evaluating Key Performance Indicators Defining and tracking performance metrics Regular evaluation and adjustment of business strategies Chapter 45: Partnerships and Alliances Identifying potential partnerships and alliances Collaboration strategies for mutual growth Chapter 46: Crisis Communication and Reputation Management Developing a crisis communication plan Protecting and managing the business's reputation Chapter 47: Industry Associations and Networking Benefits of joining industry associations Networking opportunities and industry events Chapter 48: International Expansion Strategies Exploring opportunities for expanding into foreign markets Regulatory and cultural considerations Chapter 49: Continuous Learning and Professional Development Staying updated on industry trends and best practices Investing in professional development for the team Chapter 50: Conclusion Summarizing the key points covered in the business plan Emphasizing the importance of ongoing planning and adaptation Chapter 1: Introduction to Bureau De Change Business 1.1 Overview of the Bureau De Change Industry The Bureau De Change industry plays a vital role in facilitating currency exchange for individuals and businesses. It serves as a crucial link between travelers, international businesses, and the foreign exchange market. Bureau De Change businesses provide services such as buying and selling foreign currencies, money transfers, and travel-related services. 1.2 Importance of a Business Plan A well-crafted business plan is essential for a Bureau De Change business. It serves as a roadmap for success, guiding entrepreneurs through the process of establishing and managing their business effectively. A comprehensive business plan helps define goals, identify target markets, analyze competition, develop marketing strategies, secure funding, and ensure operational efficiency. Chapter 2: Executive Summary 2.1 Overview of the Executive Summary The executive summary is a concise overview of the Bureau De Change business plan. It provides a high-level summary of the key components, objectives, and strategies outlined in the plan. It is typically the first section of the plan and serves as an introduction to potential investors, partners, and stakeholders. 2.2 Key Components of the Executive Summary The executive summary includes a brief description of the business concept, its unique value proposition, target market segments, financial projections, and the management team's qualifications. It should highlight the business's potential for profitability and growth, giving readers a compelling reason to continue reading the full business plan. Chapter 3: Company Description 3.1 Background Information on the Bureau De Change Business This section provides an overview of the Bureau De Change business, including its history, purpose, and vision. It explains why the business was established and its long-term goals. It also highlights any unique aspects or advantages that set the business apart from competitors. 3.2 Legal Structure and Ownership Details The company description section outlines the legal structure of the Bureau De Change business, whether it is a sole proprietorship, partnership, or corporation. It also includes information about the business's ownership, such as the names and roles of the founders, partners, or shareholders. Chapter 4: Market Analysis 4.1 Identification of Target Market Segments A thorough market analysis is crucial for understanding the Bureau De Change industry and identifying the target market segments. This section identifies the specific customer groups that the business aims to serve, such as international travelers, businesses engaged in foreign trade, or expatriates. 4.2 Analysis of Competition and Market Trends To gain a competitive advantage, it is essential to analyze the existing competition and market trends. This section provides an overview of competitors in the Bureau De Change industry, their strengths and weaknesses, market share, and pricing strategies. It also examines market trends, such as changes in exchange rates, regulations, and customer preferences. Chapter 5: Services and Products 5.1 Description of Currency Exchange Services Offered The Bureau De Change business primarily offers currency exchange services. This section provides a detailed description of the exchange services provided, including the range of currencies available, transaction methods (cash or electronic), and any additional services offered, such as traveler's checks or prepaid travel cards. 5.2 Additional Services, such as Money Transfers or Travel-Related Services Many Bureau De Change businesses diversify their offerings to meet customer needs and generate additional revenue streams. This section outlines any additional services provided, such as international money transfers, travel insurance, or assistance with travel arrangements. It highlights the value these services bring to customers and the business's competitive advantage. Chapter 6: Pricing Strategy 6.1 Determining Competitive Exchange Rates Pricing plays a critical role in the Bureau De Change business. This section explains how the business sets competitive exchange rates by considering factors such as current market rates, transaction costs, and desired profit margins. It also outlines strategies for monitoring and adjusting rates to remain competitive in the market. 6.2 Considerations for Fees and Commissions In addition to exchange rates, Bureau De Change businesses often charge fees or commissions for their services. This section describes the fee structure, including any flat fees, percentage-based commissions, or service charges. It also explains how the business determines these fees while considering factors such as market norms, cost structure, and customer value perception. Chapter 7: Marketing and Sales Strategy 7.1 Marketing Channels to Reach Customers An effective marketing strategy is essential for attracting customers and building awareness of the Bureau De Change business. This section outlines the marketing channels to be utilized, such as digital marketing (website, social media, online advertising) and traditional marketing (print media, billboards, radio). It also includes strategies for targeting specific customer segments through each channel. 7.2 Sales Techniques and Customer Acquisition Strategies This section explores sales techniques and customer acquisition strategies specific to the Bureau De Change industry. It may include approaches like personal selling, referral programs, strategic partnerships with travel agencies or hotels, or incentives for repeat customers. The strategies outlined should align with the business's target market and its unique selling proposition. Chapter 8: Organizational Structure and Management 8.1 Roles and Responsibilities of Key Team Members The organizational structure outlines the roles and responsibilities of key team members within the Bureau De Change business. This section identifies the positions and functions, such as CEO, operations manager, finance manager, and compliance officer. It also provides an overview of their qualifications and relevant experience. 8.2 Staffing Requirements and Recruitment Strategies To ensure operational efficiency and customer satisfaction, this section outlines the staffing requirements for the Bureau De Change business. It includes the number of employees needed, their skills and qualifications, and the recruitment strategies for attracting and retaining talent. It may also address training and development programs for staff members. Chapter 9: Operational Plan 9.1 Location and Facilities Requirements The operational plan specifies the physical requirements for the Bureau De Change business, such as location and facilities. This section outlines the ideal location based on target market proximity, accessibility, security, and visibility. It also describes the facilities needed, such as office space, cash handling systems, security measures, and technology infrastructure. 9.2 Operational Processes for Currency Exchange Transactions To ensure smooth operations, this section details the processes involved in currency exchange transactions. It covers customer verification procedures, transaction documentation, cash handling protocols, reconciliation processes, compliance with regulatory requirements, and customer service protocols. It also addresses procedures for handling exceptional cases, such as large transactions or exotic currencies. Chapter 10: Technology and Systems 10.1 Required Hardware and Software Systems Technology plays a crucial role in the Bureau De Change business. This section outlines the necessary hardware and software systems, such as currency exchange software, accounting systems, customer relationship management (CRM) tools, security systems, and communication infrastructure. It also includes considerations for system integration and scalability. 10.2 Security Measures for Handling Financial Transactions Given the nature of the business, security is of utmost importance. This section explains the security measures in place to protect financial transactions, customer data, and physical assets. It covers measures like data encryption, secure storage, surveillance systems, employee background checks, and compliance with data protection regulations. Chapter 11: Risk Management 11.1 Identification and Assessment of Potential Risks Every business faces various risks, and Bureau De Change businesses are no exception. This section identifies and assesses potential risks, such as fraud, exchange rate fluctuations, regulatory compliance, liquidity risks, and operational disruptions. It also considers the potential impact of these risks on the business's financial health and reputation. 11.2 Strategies for Mitigating Risks To minimize the impact of risks, this section outlines strategies for mitigating them. It includes measures such as implementing robust internal controls, conducting regular audits, monitoring market conditions, implementing risk management policies, and obtaining appropriate insurance coverage. It emphasizes the importance of continuous monitoring and updating of risk management strategies. Chapter 12: Financial Projections 12.1 Projected Revenue and Expenses Financial projections are crucial for evaluating the viability and profitability of the Bureau De Change business. This section includes projected revenue estimates based on transaction volumes, average transaction values, and pricing strategies. It also outlines the expected expenses, including staffing costs, rent, marketing expenses, technology investments, and regulatory compliance costs. 12.2 Break-Even Analysis and Profitability Forecast A break-even analysis helps determine the point at which the business becomes financially self-sustaining. This section calculates the break-even point by considering fixed costs, variable costs, and the contribution margin. It also includes a profitability forecast that outlines the expected net income over a specific period, considering revenue growth and cost management strategies. Chapter 13: Start-up Costs and Funding 13.1 Calculation of Initial Investment Requirements Starting a Bureau De Change business requires an initial investment to cover various start-up costs. This section provides a detailed breakdown of these costs, including licensing and permit fees, rental deposits, technology and equipment purchases, marketing expenses, staffing costs, and working capital requirements. It highlights the total amount needed to launch the business successfully. 13.2 Funding Options, such as Loans or Investment Partners To secure the necessary funds, this section explores different funding options available to the Bureau De Change business. It discusses traditional financing options like bank loans, lines of credit, or government grants. It may also consider alternative funding sources such as angel investors, venture capital, crowdfunding, or strategic partnerships. It evaluates the pros and cons of each option and outlines the steps to secure funding. Chapter 14: Implementation Timeline 14.1 Detailed Timeline for Setting up the Bureau De Change Business This section presents a detailed timeline that outlines the key activities and milestones involved in setting up the Bureau De Change business. It includes tasks such as securing permits and licenses, finding a suitable location, establishing banking relationships, setting up IT infrastructure, hiring and training staff, and launching marketing campaigns. The timeline provides a roadmap for the implementation process. 14.2 Milestones and Key Activities Within the implementation timeline, this section highlights specific milestones and key activities. It breaks down the timeline into manageable stages, indicating critical checkpoints, deadlines, and dependencies. This ensures that the implementation process remains organized and progress can be effectively tracked. Chapter 15: Legal and Regulatory Compliance 15.1 Overview of Applicable Laws and Regulations The Bureau De Change business operates within a legal and regulatory framework. This section provides an overview of the laws and regulations that govern the currency exchange industry, such as anti-money laundering (AML) regulations, know your customer (KYC) requirements, and consumer protection laws. It emphasizes the importance of compliance to maintain the business's reputation and avoid legal consequences. 15.2 Licensing and Permit Requirements To operate legally, Bureau De Change businesses must obtain the necessary licenses and permits. This section outlines the specific licensing requirements, such as obtaining a money service business license or a currency exchange license. It explains the application process, associated fees, and any ongoing compliance obligations. It also addresses other permits that may be required, such as zoning or health permits. Chapter 16: SWOT Analysis 16.1 Identifying Strengths, Weaknesses, Opportunities, and Threats A SWOT analysis provides an assessment of the Bureau De Change business's internal strengths and weaknesses, as well as external opportunities and threats. This section analyzes factors like the business's reputation, financial stability, competitive advantages, operational efficiency, customer service quality, and market conditions. It helps identify areas for improvement and strategies to capitalize on strengths and opportunities while mitigating weaknesses and threats. 16.2 Strategies to Capitalize on Strengths and Opportunities Based on the SWOT analysis, this section outlines strategies to leverage the identified strengths and opportunities. It may include initiatives like expanding service offerings, enhancing customer experience, developing strategic partnerships, investing in technology, or entering new markets. The strategies align with the business's long-term goals and aim to maximize competitive advantage. 16.3 Addressing Weaknesses and Threats To address weaknesses and threats identified in the SWOT analysis, this section outlines strategies for improvement and risk mitigation. It may involve initiatives like staff training and development, process optimization, cost management, enhancing cybersecurity measures, diversifying revenue streams, or staying updated with regulatory changes. The goal is to minimize vulnerabilities and proactively address potential challenges. Chapter 17: Marketing Plan 17.1 Branding and Positioning Strategies A strong branding and positioning strategy helps differentiate the Bureau De Change business in a competitive market. This section outlines the brand identity, including the business name, logo, tagline, and brand messaging. It also highlights the unique value proposition and key differentiators that position the business as the preferred choice for currency exchange services. 17.2 Advertising and Promotional Activities This section details the advertising and promotional activities planned to create awareness and attract customers. It identifies the most effective channels and mediums for reaching the target market, such as online advertising, print media, radio, or outdoor advertising. It also includes strategies for leveraging social media platforms, influencer marketing, content marketing, and public relations to generate interest and drive customer engagement. Chapter 18: Customer Relationship Management 18.1 Strategies to Build and Maintain Customer Relationships Strong customer relationships are vital for long-term success in the Bureau De Change business. This section outlines strategies to build and maintain relationships with customers. It includes initiatives such as personalized customer service, loyalty programs, customer feedback mechanisms, and CRM systems to track customer preferences and needs. It emphasizes the importance of delivering exceptional customer experiences to drive customer loyalty and advocacy. 18.2 Loyalty Programs and Customer Feedback Mechanisms To incentivize customer loyalty and gather valuable feedback, this section explains the implementation of loyalty programs and customer feedback mechanisms. It outlines the structure and benefits of loyalty programs, such as exclusive exchange rates, discounts, or rewards for frequent customers. It also discusses feedback mechanisms like surveys, online reviews, or feedback forms to continuously improve service quality and address customer concerns. Chapter 19: Competitive Analysis 19.1 Comparative Analysis of Competitors' Strengths and Weaknesses This section conducts a comparative analysis of the Bureau De Change business's main competitors. It identifies their strengths, such as reputation, service offerings, market share, or technological capabilities. It also assesses their weaknesses, such as limited geographic coverage, suboptimal customer service, or outdated systems. Understanding the competition helps identify opportunities for differentiation and competitive advantage. 19.2 Differentiation Strategies Based on the competitive analysis, this section outlines strategies for differentiating the Bureau De Change business from competitors. It may involve offering unique services, adopting innovative technologies, providing superior customer service, or targeting niche markets. The strategies aim to position the business as the preferred choice for customers seeking currency exchange services and create barriers to entry for new competitors. Chapter 20: Financial Management 20.1 Bookkeeping and Accounting Processes Sound financial management is crucial for the success of any business. This section outlines the bookkeeping and accounting processes to be implemented, including the use of accounting software, chart of accounts, record-keeping procedures, and financial reporting timelines. It emphasizes the importance of accurate financial data for decision-making, tax compliance, and meeting regulatory requirements. 20.2 Financial Controls and Reporting Mechanisms To ensure financial integrity and transparency, this section discusses the financial controls and reporting mechanisms to be established. It includes internal controls for cash handling, reconciliation processes, expense approval procedures, and periodic financial audits. It also highlights the importance of financial reporting, including income statements, balance sheets, and cash flow statements, to track performance and inform strategic decision-making. Chapter 21: Exit Strategy 21.1 Options for Exiting or Selling the Business in the Future Planning for the future, this section discusses options for exiting or selling the Bureau De Change business. It explores different scenarios, such as selling the business to a competitor, passing it on to a family member or key employee, or conducting an initial public offering (IPO) if the business grows significantly. It emphasizes the importance of considering exit strategies early on to maximize value and ensure a smooth transition. 21.2 Succession Planning For businesses with a long-term perspective, succession planning is essential. This section addresses the process of identifying and preparing successors to take over key roles within the Bureau De Change business. It includes strategies for grooming and developing future leaders, documenting processes and knowledge transfer, and establishing a contingency plan in case of unforeseen events. Succession planning ensures business continuity and protects the legacy of the business. Chapter 22: Appendix 22.1 Supporting Documents The appendix section includes supporting documents that provide additional information and validation for the business plan. This may include resumes or profiles of key team members, licenses and permits, market research data, financial statements, partnership agreements, or relevant legal documents. Including these documents enhances the credibility and completeness of the business plan. Chapter 23: Industry Trends and Future Outlook 23.1 Emerging Trends in the Bureau De Change Industry This section discusses the current and emerging trends in the Bureau De Change industry. It may include advancements in technology, regulatory changes, shifts in customer preferences, or geopolitical factors affecting currency exchange rates. Understanding industry trends helps the business anticipate changes and adapt strategies accordingly. 23.2 Anticipated Challenges and Opportunities Based on industry trends, this section identifies potential challenges and opportunities that the Bureau De Change business may encounter. It explores strategies to navigate challenges, such as increased competition or changing regulations, while capitalizing on opportunities like emerging markets or evolving customer needs. It emphasizes the importance of agility and adaptability to stay ahead in a dynamic industry. Chapter 24: Economic Factors and Exchange Rate Analysis 24.1 Factors Influencing Currency Exchange Rates This section examines the economic factors that influence currency exchange rates. It explains concepts such as interest rates, inflation, economic indicators, and geopolitical events that impact exchange rates. It also discusses how fluctuations in exchange rates can affect the Bureau De Change business and strategies for managing exchange rate risks. 24.2 Strategies to Manage Exchange Rate Risks To mitigate the impact of exchange rate fluctuations, this section outlines strategies to manage exchange rate risks. It includes approaches such as hedging techniques, diversifying currency holdings, monitoring market trends, and offering advisory services to customers. The strategies aim to minimize the business's exposure to currency risk and protect its financial stability. Chapter 25: Customer Segmentation and Targeting 25.1 Defining Customer Segments and Their Specific Needs Effective customer segmentation helps tailor marketing strategies and services to specific customer groups. This section identifies different customer segments within the target market and defines their specific needs, preferences, and behaviors. It may include segments such as leisure travelers, business travelers, international students, expatriates, or small businesses engaged in foreign trade. 25.2 Tailoring Marketing Strategies to Reach Each Segment To effectively reach each customer segment, this section outlines strategies for targeting and engaging them. It may involve personalized marketing messages, specific communication channels, tailored service offerings, or partnership collaborations that resonate with the unique needs and preferences of each segment. The strategies aim to maximize customer acquisition and retention within each identified segment. Chapter 26: Customer Acquisition Channels 26.1 Online Channels (Websites, Social Media, etc.) This section explores the online channels that Bureau De Change businesses can utilize to acquire customers. It includes the development of a professional website that provides information on services, exchange rates, and contact details. It also considers social media platforms, search engine optimization (SEO), online advertising, and content marketing strategies to drive traffic, engagement, and conversions. 26.2 Offline Channels (Partnerships, Advertising, etc.) Offline channels are equally important for customer acquisition. This section discusses strategies such as forming partnerships with travel agencies, hotels, or airlines to reach potential customers. It also explores traditional advertising methods like print media, billboards, and direct mail campaigns. Additionally, it may consider participation in trade shows, networking events, or sponsoring local community activities to enhance brand visibility and acquire customers. Chapter 27: Customer Retention Strategies 27.1 Building Customer Loyalty and Repeat Business Customer retention is crucial for sustainable growth. This section outlines strategies for building customer loyalty and encouraging repeat business. It includes initiatives such as loyalty programs, personalized customer communication, special promotions for repeat customers, and regular engagement through newsletters or exclusive offers. The strategies aim to create a loyal customer base and maximize customer lifetime value. 27.2 Personalized Services and Ongoing Customer Engagement To enhance customer satisfaction and foster long-term relationships, this section explores strategies for providing personalized services and ongoing customer engagement. It may involve offering tailored currency exchange solutions, proactive communication to address customer needs, anticipating customer preferences, and providing value-added services such as travel advice or destination-specific information. The goal is to create a positive customer experience and become the preferred choice for currency exchange services. Chapter 28: Staff Training and Development 28.1 Training Programs to Enhance Employee Skills This section discusses the importance of staff training and development in the Bureau De Change business. It outlines training programs to enhance employee skills, such as currency exchange regulations, customer service excellence, fraud detection and prevention, effective communication, and technology utilization. It emphasizes the importance of ongoing training to keep employees updated with industry trends and regulatory requirements. 28.2 Ensuring Compliance with Regulatory Requirements Compliance with regulatory requirements is crucial in the Bureau De Change industry. This section highlights the importance of training staff to ensure compliance with anti-money laundering (AML) regulations, know your customer (KYC) requirements, data protection regulations, and other legal obligations. It addresses the establishment of internal controls and monitoring mechanisms to detect and prevent any compliance breaches. Chapter 29: Competitive Pricing Strategies 29.1 Pricing Strategies to Remain Competitive Competitive pricing is essential for attracting customers in the Bureau De Change industry. This section explores different pricing strategies to remain competitive. It may include offering competitive exchange rates, providing value-added services at competitive prices, price matching guarantees, or implementing dynamic pricing strategies based on market conditions. The pricing strategies aim to balance profitability with customer value perception. 29.2 Balancing Profitability with Customer Value While remaining competitive, it is crucial to maintain profitability. This section discusses strategies to balance profitability with customer value. It includes cost management techniques, optimizing operational efficiencies, negotiating favorable rates with banking partners, and identifying revenue streams beyond currency exchange services. The goal is to ensure a healthy financial performance while providing exceptional value to customers. Chapter 30: Sales Forecasting and Performance Tracking 30.1 Tools and Techniques for Sales Forecasting Accurate sales forecasting helps the Bureau De Change business plan effectively and make informed decisions. This section discusses tools and techniques for sales forecasting, such as historical data analysis, market research, customer segmentation, and industry trends analysis. It also considers factors like seasonality, exchange rate fluctuations, and economic Chapter 31: Operational Efficiency and Process Optimization 31.1 Streamlining Processes to Improve Efficiency Operational efficiency is critical for the Bureau De Change business's success. This section explores strategies for streamlining processes to improve efficiency. It may involve reevaluating workflow, automating manual tasks, implementing standardized procedures, and adopting technology solutions that enhance operational efficiency. The goal is to reduce costs, minimize errors, and increase productivity. 31.2 Automation and Technology Integration Technology plays a vital role in optimizing operations. This section discusses the automation and technology solutions that can be integrated into the Bureau De Change business. It may include currency exchange software, customer relationship management (CRM) systems, accounting software, security systems, and integration with banking platforms. Automating routine tasks and leveraging technology streamlines processes and improves overall efficiency. Chapter 32: Risk Mitigation Strategies 32.1 Fraud Prevention Measures Fraud prevention is crucial in the Bureau De Change business. This section outlines measures to mitigate the risk of fraudulent activities. It includes implementing robust internal controls, conducting background checks on employees, implementing transaction monitoring systems, and adhering to strict compliance procedures. Regular staff training on fraud detection and prevention is also essential. 32.2 Insurance Coverage for Potential Risks Insurance coverage helps protect the Bureau De Change business from potential risks. This section discusses the types of insurance that may be necessary, such as professional liability insurance, general liability insurance, and fidelity bond insurance. It also emphasizes the importance of reviewing insurance coverage regularly to ensure it aligns with the evolving needs and risks of the business. Chapter 33: Financial Analysis and Key Metrics 33.1 Financial Ratios and Performance Indicators Financial analysis provides insights into the Bureau De Change business's financial health and performance. This section discusses important financial ratios and performance indicators, such as return on investment (ROI), profit margin, liquidity ratios, and customer acquisition cost (CAC). It explains how to calculate and interpret these metrics to assess the business's financial position and profitability. 33.2 Analysis of Profitability, Liquidity, and Solvency This section dives deeper into analyzing profitability, liquidity, and solvency of the Bureau De Change business. It explores profitability ratios like gross profit margin and net profit margin, liquidity ratios like current ratio and quick ratio, and solvency ratios like debt-to-equity ratio and interest coverage ratio. It explains how these metrics reflect the financial health of the business and guides decision-making processes. Chapter 34: Funding Options and Investor Pitch 34.1 Identifying Potential Investors This section explores different funding options for the Bureau De Change business. It includes traditional financing options like bank loans, lines of credit, or small business grants. It also discusses alternative funding sources such as angel investors, venture capital firms, crowdfunding platforms, and strategic partnerships. The section provides guidance on identifying potential investors aligned with the business's goals and values. 34.2 Crafting a Compelling Investor Pitch To secure funding, a compelling investor pitch is essential. This section outlines key elements to include in the pitch, such as a concise overview of the business, market analysis, competitive advantage, financial projections, and the return on investment for potential investors. It emphasizes the importance of a well-prepared pitch deck and effective communication to attract investors. Chapter 35: Business Expansion Strategies 35.1 Scaling the Business through New Locations or Services Business expansion is a natural progression for successful Bureau De Change businesses. This section explores strategies for scaling the business through opening new locations or offering additional services. It discusses market research, location analysis, operational considerations, and branding strategies when expanding to new locations. It also explores opportunities to diversify services and revenue streams to drive business growth. 35.2 Partnerships and Collaborations for Growth Strategic partnerships and collaborations can fuel growth for the Bureau De Change business. This section explores potential partnerships with complementary businesses such as travel agencies, hotels, or online travel platforms. It discusses collaboration opportunities for cross-promotion, joint marketing efforts, or bundled services. Effective partnerships can expand the customer base and enhance the business's value proposition. Chapter 36: Customer Feedback and Continuous Improvement 36.1 Gathering Customer Feedback and Implementing Improvements Customer feedback is invaluable for the Bureau De Change business's continuous improvement. This section discusses strategies for gathering customer feedback, such as online surveys, feedback forms, or direct communication channels. It emphasizes the importance of actively listening to customers, addressing their concerns, and implementing improvements based on their feedback to enhance the customer experience. 36.2 Monitoring Customer Satisfaction and Loyalty Metrics Measuring customer satisfaction and loyalty is essential for the Bureau De Change business. This section explores key metrics and methods for monitoring customer satisfaction, such as Net Promoter Score (NPS), customer satisfaction surveys, or customer reviews. It also discusses strategies to enhance customer loyalty, including loyalty programs, personalized services, and proactive customer engagement initiatives. Chapter 37: International Regulatory Compliance 37.1 Compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) Regulations Operating internationally requires strict compliance with anti-money laundering (AML) and know your customer (KYC) regulations. This section discusses the importance of implementing robust AML and KYC procedures, conducting due diligence on customers, and reporting suspicious activities. It emphasizes the need for ongoing staff training to ensure compliance with international regulations. 37.2 International Trade and Financial Reporting Requirements International trade and financial reporting have specific requirements that the Bureau De Change business must adhere to. This section explores regulations related to foreign exchange transactions, cross-border payments, tax reporting, and financial statements preparation. It discusses the importance of having a thorough understanding of international regulations and engaging professional services when necessary. Chapter 38: Sustainability and Corporate Social Responsibility 38.1 Implementing Sustainable Practices in the Business Sustainability and corporate social responsibility (CSR) are increasingly important considerations for businesses. This section discusses strategies for implementing sustainable practices in the Bureau De Change business. It includes initiatives such as reducing carbon footprint, promoting responsible tourism, supporting local communities, and using environmentally friendly products. It highlights the importance of aligning business practices with environmental and social sustainability goals. 38.2 Contributing to the Community and Environmental Initiatives Giving back to the community and supporting environmental initiatives can enhance the Bureau De Change business's reputation. This section explores ways to contribute, such as engaging in corporate philanthropy, sponsoring local events, supporting educational programs, or participating in environmental conservation initiatives. It emphasizes the value of building strong relationships with the community and being a responsible corporate citizen. Chapter 39: Crisis Management and Business Continuity 39.1 Developing a Crisis Management Plan Unforeseen events can disrupt business operations. This section discusses the importance of developing a comprehensive crisis management plan for the Bureau De Change business. It includes risk assessment, business continuity planning, communication protocols, and contingency measures to mitigate the impact of crises such as natural disasters, political instability, or economic downturns. 39.2 Ensuring Business Continuity During Unforeseen Events Business continuity ensures the Bureau De Change business can continue operating during and after a crisis. This section outlines strategies for ensuring business continuity, such as data backup and recovery plans, remote work capabilities, alternative service delivery channels, and emergency response procedures. It emphasizes the importance of regularly testing and updating the business continuity plan to remain resilient in the face of unexpected events. Chapter 40: Exit Planning and Succession 40.1 Strategies for Exiting the Business or Selling At some point, business owners may consider exiting or selling the Bureau De Change business. This section explores strategies for exiting the business, including selling to a competitor, conducting a management buyout, or transferring ownership to a family member or key employee. It discusses the importance of careful planning, valuation considerations, and engaging professional advisors to ensure a successful transition. 40.2 Valuation Methods and Negotiations Valuing the Bureau De Change business is essential when considering an exit or sale. This section discusses common valuation methods, such as the market approach, income approach, and asset-based approach. It provides insights into negotiating a fair price, engaging with potential buyers, and conducting due diligence to maximize the business's value during the exit or sale process. Chapter 41: Legal Considerations for Expansion 41.1 Legal Requirements for Expanding to New Locations or Offering New Services Expanding the Bureau De Change business to new locations or offering new services involves legal considerations. This section explores the legal requirements, such as obtaining necessary permits and licenses, complying with local regulations, and understanding labor laws and employment practices. It highlights the importance of engaging legal counsel familiar with international business laws and regulations. 41.2 Intellectual Property Protection and Contracts Protecting intellectual property (IP) and establishing proper contractual agreements is vital for the Bureau De Change business. This section discusses strategies for IP protection, such as trademark registration or trade secret protection. It also addresses the importance of well-drafted contracts for partnerships, service agreements, and vendor relationships to protect the business's interests and mitigate legal risks. Chapter 42: Technological Advancements and Innovation 42.1 Adopting New Technologies in the Bureau De Change Industry The Bureau De Change industry is evolving with technological advancements. This section explores emerging technologies that can benefit the business, such as blockchain, artificial intelligence, or mobile payment solutions. It discusses the potential advantages, challenges, and implementation strategies for adopting these technologies to enhance efficiency, security, and customer experience. 42.2 Innovation Strategies to Stay Ahead of Competitors Innovation is key to staying ahead of competitors in the Bureau De Change industry. This section explores innovation strategies, such as developing new service offerings, leveraging data analytics for customer insights, embracing digital transformation, or exploring partnerships with fintech companies. It emphasizes the importance of fostering a culture of innovation and continuously seeking opportunities for improvement. Chapter 43: Employee Engagement and Motivation 43.1 Employee Recognition Programs Engaged and motivated employees are crucial for the Bureau De Change business's success. This section discusses the implementation of employee recognition programs to acknowledge and reward outstanding performance. It explores strategies like employee of the month awards, performance-based incentives, or team recognition events to foster a positive work environment and enhance employee morale. 43.2 Building a Positive Work Culture A positive work culture promotes productivity and employee satisfaction. This section explores strategies for building a positive work culture within the Bureau De Change business. It includes initiatives such as open communication channels, teamwork, work-life balance programs, professional development opportunities, and a supportive management style. It emphasizes the importance of creating an inclusive and empowering work environment. Chapter 44: Monitoring and Evaluating Key Performance Indicators 44.1 Defining and Tracking Performance Metrics Tracking key performance indicators (KPIs) is essential for monitoring the Bureau De Change business's performance. This section discusses the process of defining and selecting relevant KPIs based on the business's goals and objectives. It covers metrics such as transaction volume, revenue growth, customer acquisition cost, customer satisfaction, and employee productivity. It emphasizes the regular monitoring of KPIs to track progress and make data-driven decisions. 44.2 Regular Evaluation and Adjustment of Business Strategies Based on the KPIs and performance analysis, this section explores the process of evaluating and adjusting business strategies. It discusses the importance of periodic reviews, identifying areas for improvement, and implementing necessary changes to optimize business performance. It emphasizes the value of agility and adaptability to maintain a competitive edge in the Bureau De Change industry. Chapter 45: Customer Data Protection and Privacy 45.1 Compliance with Data Protection Regulations Protecting customer data is a legal and ethical responsibility for the Bureau De Change business. This section discusses the importance of complying with data protection regulations, such as the General Data Protection Regulation (GDPR) or local privacy laws. It covers strategies for data security, customer consent management, data breach response planning, and employee training on data protection best practices. 45.2 Securing Customer Data and Privacy Measures To ensure customer data security and privacy, this section outlines measures for securing customer data. It includes practices like data encryption, access control protocols, regular data backups, and network security measures. It also emphasizes the importance of transparent privacy policies, data retention policies, and ongoing monitoring of data security systems. Chapter 46: Corporate Governance and Ethical Practices 46.1 Establishing a Strong Corporate Governance Framework Strong corporate governance is essential for the Bureau De Change business's long-term success and sustainability. This section explores strategies for establishing a robust corporate governance framework, including the establishment of a board of directors, transparent decision-making processes, internal control systems, and regular financial reporting. It highlights the importance of upholding ethical practices and maintaining the trust of stakeholders. 46.2 Ethical Considerations in Currency Exchange Operations Ethical considerations are vital in currency exchange operations. This section discusses the ethical responsibilities of the Bureau De Change business, such as providing accurate information to customers, avoiding deceptive practices, and complying with regulations to prevent money laundering and terrorist financing. It emphasizes the importance of maintaining high ethical standards to protect the business's reputation and build trust with customers. Chapter 47: Customer Education and Financial Literacy 47.1 Promoting Financial Literacy and Awareness Promoting financial literacy and awareness among customers is a value-added service for the Bureau De Change business. This section explores initiatives to educate customers about currency exchange, foreign exchange risks, travel budgeting, and ways to protect against currency fluctuations. It may include online resources, educational materials, or workshops to empower customers and enhance their financial decision-making capabilities. 47.2 Providing Currency Exchange Tips and Travel Advice To assist customers, this section provides currency exchange tips and travel advice. It covers topics like understanding exchange rates, avoiding common pitfalls in currency exchange, using prepaid travel cards, and managing finances while traveling. By offering valuable information, the Bureau De Change business enhances the customer experience and establishes itself as a trusted source of guidance. Chapter 48: Social Media and Online Reputation Management 48.1 Leveraging Social Media Platforms Social media platforms offer opportunities for the Bureau De Change business to engage with customers and build an online presence. This section explores strategies for leveraging social media platforms such as Facebook, Instagram, Twitter, or LinkedIn. It discusses content creation, community engagement, customer support, and reputation management on social media to enhance brand visibility and customer relationships. 48.2 Online Reputation Management Maintaining a positive online reputation is crucial for the Bureau De Change business. This section discusses strategies for online reputation management, including monitoring online reviews, addressing customer feedback promptly and professionally, and proactively managing the business's online presence. It emphasizes the importance of maintaining a strong reputation to attract and retain customers in the digital age. Chapter 49: Continuous Learning and Professional Development 49.1 Promoting Continuous Learning Culture Continuous learning and professional development are essential in the Bureau De Change industry. This section explores strategies for promoting a culture of continuous learning within the business. It includes initiatives such as providing training opportunities, supporting certifications and professional memberships, encouraging knowledge sharing, and staying updated with industry trends and regulatory changes. Continuous learning enhances employee skills and keeps the business competitive. 49.2 Industry Participation and Networking Active industry participation and networking offer valuable opportunities for the Bureau De Change business. This section discusses the benefits of participating in industry associations, attending conferences, seminars, or workshops, and engaging in networking events. It highlights the value of exchanging knowledge, building professional relationships, and staying connected with industry peers to foster growth and stay informed about industry developments. Chapter 50: Future Outlook and Growth Strategies 50.1 Anticipating Future Trends and Market Dynamics This section explores the future outlook of the Bureau De Change industry and the potential trends and market dynamics that may shape its evolution. It may include discussions on emerging technologies, changing customer preferences, regulatory shifts, and geopolitical factors impacting currency exchange. Understanding future trends helps the business proactively adapt and implement growth strategies. 50.2 Strategies for Sustained Growth and Market Leadership To achieve sustained growth and market leadership, this section outlines strategies for the Bureau De Change business. It may include expanding service offerings, entering new markets, investing in technological advancements, optimizing operational efficiency, enhancing customer experience, and fostering strategic partnerships. The strategies align with the business's long-term vision and position it for continued success in the dynamic currency exchange industry. Featured books Buy at Amazon Return to Home Page It appears JavaScript is disabled. To get the most out of the website we recommend enabling JavaScript in your browser. Application Process for Bureau de Change Businesses The Central Bank of Ireland (Central Bank) is the competent authority in Ireland for the authorisation and supervision of bureaux de changes businesses under Part V of the Central Bank Act 1997 (as amended) (the Act). Each applicant seeking authorisation must satisfy the Central Bank that it can meet the Authorisation Requirements and Standards for Bureaux de Change Businesses (AR&S). In fulfilling its statutory role in this regard, the Central Bank adopts a robust, structured and risk-based process that seeks to ensure that only those applicants that demonstrate compliance with the AR&S are authorised. The Central Bank seeks to process each application as expeditiously as possible while meeting its obligation to operate a rigorous and effective gatekeeper function. It aims to ensure that the application process is facilitative and accessible from the perspective of applicants and, importantly, that applicants have clarity with regard to the process, its requirements and timelines. Before Applying for Authorisation In advance of submitting an application for authorisation, the firm should satisfy itself that: its proposed business model requires authorisation pursuant to the Act; it can comply with the Authorisation Requirements and Standards for Bureaux de Change Businesses   it is capable of complying with, and adhering to the AR&S and on-going supervisory requirements that must be satisfied on an on-going basis; and it has read the Guidance Note for the Completion of an Application for Authorisation as a Bureau de Change Business. Firms are advised to seek legal advice if they are unsure as to whether their proposed activities require authorisation pursuant to the Act or if they are unsure as to how they should comply with the AR&S. If, after having received and considered such advice, firms have any doubt about their status, they are advised to submit an application for authorisation.  Summary of the Key Stages in the Application Process The applicant submits a completed Application Form with supporting documentation; The Central Bank acknowledges receipt of the application submission; The Central Bank assesses whether the application submission contains the key information and documentation required;  Where all key information and documentation has been provided, the applicant will be provided with log-on details for the Central Bank’s Online Reporting System  ((ONR) to facilitate the submission of Individual Questionnaires (IQs) via the ONR and will be requested to submit a Garda Vetting Form (it should be noted that a Garda Vetting Form is required where the applicant is a Sole Trader or a company with a single director);  The Central Bank completes an assessment of the application submission and may issue detailed comments and/or seek additional information; The applicant is provided with the opportunity to address the comments and requests issued by the Central Bank in a revised application submission(s); The Central Bank will assess these subsequent application submission(s) and notify the firm of its assessment and intended decision. The applicant is provided with a further opportunity to address any concerns arising at this stage in the process (if any); and The Central Bank will notify the applicant of its decision in respect of the application submission. In the sections set out below, the firm will be able to learn about the different stages of the application process in more detail. The Documentation Required to Make an Application for Authorisation Applicants should submit the following documentation which should be fully completed: An  Application for Authorisation as a Bureau de Change Business Form (including the specific information/documentation requirements set out therein); A Business Plan; A Programme of Operations; Individual Questionnaires (when requested to do, see IQ User Manual); and Garda Vetting Invitation Form (where relevant). Once an application is submitted and the applicant has been provided with log-on details for the Central Bank's Online Reporting System  ONR, the applicant will need to ensure that all relevant individuals proposed to hold a Pre-Approval Controlled Function ("PCF") role (typically board members, senior management, key function holders) and any qualifying shareholders complete Fitness and Probity Individual Questionnaires – view more information and guidance material . Individual Questionnaires (IQs) must be submitted electronically via the ONR (Online Reporting System User Manual) by all relevant individuals, but qualifying shareholders (that are not proposed PCF role holders) are required to submit a paper version . Please note that access to the online IQ only becomes available after an application has been deemed to contain all the key information and documentation required. The applicant will also need to ensure that it submits a Garda Vetting Invitation Form – view more information on Garda Vetting which will be carried out by the National Vetting Bureau (NVB). IMPORTANT : Where incomplete Application Forms, IQs or Garda Vetting Invitation Forms are submitted they will be returned to the applicant.   Where IQs and the Garda Vetting Invitation Form are not submitted within 20 working days of being requested to submit this documentation, the application will be returned to the applicant. An application will only progress to the assessment phase of the authorisation process where all key information and documentation required in the Application Form, in each relevant IQ and in the Garda Vetting Invitation Form has been provided. It is therefore important that the applicant has read the guidance material provided to assist applicants in completing this documentation, and has taken the information provided therein into consideration when completing the Application Form, the IQs and the Garda Vetting Invitation Form. The completed Application Form, along with all relevant accompanying material, should be submitted in electronic format to the Central Bank via our secure file transfer system.  Please request access via email to [email protected] .  The Key Stages in the Application Process Stage 1 – Acknowledgement The Central Bank will acknowledge receipt of an Application for Authorisation submitted by the applicant within 3 working days of receipt. Stage 2 - Key Information Check The Central Bank will then check that the application material submitted contains all the key information and documentation required to proceed to the submission of IQs and the Garda Vetting Form. Within 10 working days of receipt of the application, the Central Bank will either: I. Advise the applicant that the application contains sufficient material to proceed to the submission of IQs and the Garda Vetting Form; or II. Advise the applicant that the application does not contain sufficient material to proceed to the submission of IQs and the Garda Vetting Form and so is not being progressed to that phase. A statement of the omitted information is also provided to assist the applicant should it wish to submit another application in the future. Any subsequent application will be considered a new application and the application process commences again.  Stage 3 – Submission of IQs and Garda Vetting Form Where sufficient information has been received, as outlined in Stage 2(I) above, the application will proceed to the submission of IQs and the Garda Vetting Form. Log-on details to the ONR will be issued to the applicant and the applicant will be required to complete and submit all required IQs and the Garda Vetting Form. Applicants are advised that the application will progress to the assessment phase once all required IQs and the Garda Vetting Form have been submitted and are deemed to contain all the key information and documentation required. The applicant will then have 20 days to submit all IQs and the Garda Vetting Form. If all required IQs and the Garda Vetting Form are not submitted within 20 days the application will be deemed dormant and withdrawn and will be returned to the applicant. Any subsequent application will be considered a new application and the application process commences at Stage 1. Stage 4 - Assessment Phase Where an application submission, all relevant IQs and the Garda Vetting Form have been received and have been deemed to contain all the key information and documentation required, as outlined in Stages 2(I) and 3 above, the Central Bank will then proceed to the assessment phase of the application process. In the assessment phase, the application material submitted will be reviewed against the relevant AR&S to determine whether sufficient information has been provided to enable the Central Bank to issue a 'Notification of Assessment' letter as referred to in Stage 5 below. The Central Bank will issue initial comments to the applicant based on its review of the application material submitted and any subsequent comments based on its review of responses submitted by the firm. The Central Bank has published service standards (see below) in respect of the processing of applications for authorisation and in the context of meeting those standards the service standard timeframe to which the Central Bank has committed for the assessment phase of the application process is 90 working days. However, it should be noted that in the event of further and/or subsequent information being sought, this 90 day ‘clock’ is paused until such information is received by the Central Bank from the applicant. In the event of the applicant failing to respond to a request from the Central Bank for further and/or subsequent information, after 20 working days the application may not be considered further by the Central Bank ( See Guidance Note ). Stage 5 – Notification of Assessment  The Central Bank will notify the applicant of the outcome of the Assessment Phase of the application process as follows: a) Where the assessment is favourable, the Central Bank will notify the applicant by letter that it proposes to authorize the applicant on the basis of the information provided in its application submission, provided any specified final steps are taken and/or any specified final items of information and evidence are received. This letter will also specify any specific conditions the Central Bank proposes to impose on the authorisation itself once granted. This letter will explain the reasons for these proposed conditions and the applicant will be afforded the opportunity to make representations in respect of the proposed conditions before the Central Bank makes any decision on the application. b) In the event that the Central Bank is not satisfied on foot of the Assessment Phase such that it can issue a Notification of Assessment letter under (a) above, the Central Bank will advise the applicant of this by letter. This letter will set out the areas to be addressed and afford the applicant the opportunity to do so and make any submissions it wishes to the Central Bank in respect of these matters. Stage 6- Notification of Decision in respect of the Application Once the Central Bank has assessed any further information/evidence/representations submitted by the applicant following on from Stage 5 above, the Central Bank will notify the applicant, via letter, of its decision on the application as follows: a) Authorisation with Specific Conditions - The Central Bank has decided to grant an authorisation with specific conditions attached to the authorisation. The specific conditions to be attached to the authorisation will be outlined in the letter. b) Proposed Refusal of Authorisation - The Central Bank is minded to refuse the application for authorisation. In accordance with the applicable legislation, the Central Bank will notify the applicant of the grounds for the proposed refusal of the authorisation. The applicant will then have an opportunity to make submissions in response to the proposed refusal. These submissions will then be considered by the Central Bank following which a decision will be taken by the Central Bank to grant or refuse the authorisation applied for, as appropriate. Details of the Central Bank's process for the refusal of an application for authorisation are available on the Refusals and Revocations page . If the firm has any queries in respect of the application process it can contact the Central Bank at [email protected] . Service Standards Performance Reports Section 149a of the consumer credit act, 1995 (as amended) ('the cca') . Bureaux de Change and Money Transmission Businesses providing relevant services must comply with Section 149A of the CCA which provides that you shall not impose a new charge or increase an existing charge for a service provided to a customer or a group of customers, without the prior approval of the Central Bank of Ireland (the 'Central Bank'). The Central Bank may impose sanctions on a firm pursuant to Part IIIC of the Central Bank Act, 1942 ('the Act') if, having concluded an inquiry, it determines that the firm has committed a contravention as defined by section 33AN of that Act Please see attached note on Section 149A of the CCA . Share full article For more audio journalism and storytelling, download New York Times Audio , a new iOS app available for news subscribers. Apple Podcasts Google Podcasts The Republican Plan to Challenge a Harris Victory How a right-wing takeover of an obscure, unelected board in georgia could swing the election.. Hosted by Michael Barbaro Featuring Nick Corasaniti Produced by Olivia Natt Asthaa Chaturvedi and Eric Krupke Edited by Patricia Willens With Lexie Diao and Michael Benoist Original music by Dan Powell Corey Schreppel Rowan Niemisto and Diane Wong Engineered by Chris Wood Listen and follow ‘The Daily’ Apple Podcasts | Spotify | Amazon Music | YouTube | iHeartRadio At the Democratic National Convention, party officials are celebrating polls showing that Kamala Harris is now competitive with Donald Trump in every major swing state across the country. But in one of those swing states, Republicans have laid the groundwork to challenge a potential Harris victory this fall, by taking over an obscure, unelected board. Nick Corasaniti, a Times reporter who focuses on voting and elections, explains. On today’s episode Nick Corasaniti , a reporter covering national politics for The New York Times. Background reading The unelected body that shapes voting rules in Georgia has a new conservative majority, whose members question the state’s 2020 results. They now have new power to influence the results in 2024 . Kamala Harris and Donald Trump are in close races across Arizona, Georgia, Nevada and North Carolina , crucial swing states that Mr. Trump had seemed poised to run away with. There are a lot of ways to listen to The Daily. Here’s how. We aim to make transcripts available the next workday after an episode’s publication. You can find them at the top of the page. Fact-checking by Susan Lee . The Daily is made by Rachel Quester, Lynsea Garrison, Clare Toeniskoetter, Paige Cowett, Michael Simon Johnson, Brad Fisher, Chris Wood, Jessica Cheung, Stella Tan, Alexandra Leigh Young, Lisa Chow, Eric Krupke, Marc Georges, Luke Vander Ploeg, M.J. Davis Lin, Dan Powell, Sydney Harper, Michael Benoist, Liz O. Baylen, Asthaa Chaturvedi, Rachelle Bonja, Diana Nguyen, Marion Lozano, Corey Schreppel, Rob Szypko, Elisheba Ittoop, Mooj Zadie, Patricia Willens, Rowan Niemisto, Jody Becker, Rikki Novetsky, Nina Feldman, Will Reid, Carlos Prieto, Ben Calhoun, Susan Lee, Lexie Diao, Mary Wilson, Alex Stern, Sophia Lanman, Shannon Lin, Diane Wong, Devon Taylor, Alyssa Moxley, Olivia Natt, Daniel Ramirez and Brendan Klinkenberg. Our theme music is by Jim Brunberg and Ben Landsverk of Wonderly. Special thanks to Sam Dolnick, Paula Szuchman, Lisa Tobin, Larissa Anderson, Julia Simon, Sofia Milan, Mahima Chablani, Elizabeth Davis-Moorer, Jeffrey Miranda, Maddy Masiello, Isabella Anderson, Nina Lassam and Nick Pitman. Nick Corasaniti is a Times reporter covering national politics, with a focus on voting and elections. More about Nick Corasaniti Advertisement Inman Connect New York: The Next Chapter is About to Begin Commission Coverage Take the August Inman Intel Index Inman heads to San Diego 2025 All the resources you need post-Aug. 17 A SIMPLE plan that can change your life and business forever Anytime is a good time to change your life and the way you do business for the better, Jimmy Burgess writes. Find out what it takes with this “simple” plan. Inman Connect Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025. Times of disruption provide a unique opportunity for agents to create life-altering change for their businesses. Most people understand that a few bad decisions and careless actions today can negatively impact their future. But they often forget that the reverse is true as well. Good decisions and purposeful actions today can positively alter their future as well. However, there is a process, and this article breaks down the SIMPLE steps you can take to build the business of your dreams. S: Sick and tired of  being sick and tired There are two emotions that lead to change. The first can happen when you get sick and tired of the way your business and life are going. Maybe your business has stalled or even been declining. You might be burnt out and not sure if you even want to continue in this business. This is the emotion that leads to agents either leaving the business or coming to the realization that to get different results they must do different things. If you decide to push through and make a change, the first step is to choose your pain. Will the pain of regret, or not doing what needs to be done to regain your momentum, be worse than the pain you are currently facing by being sick and tired of your current situation? This change starts by identifying the actions in your business that you know need to be done, but that you have been avoiding. These could include making more phone calls, investing in marketing, shooting video content or any number of activities agents avoid doing despite knowing they will help their business. Whatever it might be for you, coming to a place where you will fight through the short-term uncomfortableness to change your business and life is one of two ways your mindset can change and lead to success. I: Inspiration The second factor that can lead to change is when you are inspired by an outside force to strive for something better. This can come through a speaker, a video or by spending time with someone who is truly inspirational. This rarely is a one-time event. Inspiration must be consistent and sustainable to create true change, but it is one of the most powerful emotions for those desiring more. Once you realize you need to change, whether through being sick and tired or through inspiration, the next step is to move into the practical activities and specific actions you can focus on to regain the momentum you desire. M: Create a movement People want to be a part of something that is bigger than themselves. If you’re a broker or manager this means creating a movement that agents want to be a part of. By creating an aspirational culture, you will attract the agents you’re looking to build your business with. If you’re an agent, create a movement where buyers and sellers desire to work with you. Whether you are a broker, manager or an agent, a movement in your business can be created by following my three C’s of movement creation. Create community People are drawn to community. This can be done in a company via a collaborative culture or developing a culture where the agents are proud to be associated with the company. Agents can do this through client appreciation events , by donating to local charities in honor of their clients or any number of additional community activities that bring the agent’s clients together. The key is to create a community people are proud to be associated with. Be the connector Whether it be connecting your buyers with local business owners, homeowners with handymen, landscapers or any other needed services, your ability to be the resource and connector is invaluable. If you are the person who connects your agents or clients with the people they need, others will naturally be drawn to you and your business. Captivate your ideal client The best way to captivate your ideal client is to provide them with information and guidance in a unique way that attracts them to you. Be specific in your marketing by calling out your ideal client. Here are a few examples: If you’re a first-time homebuyer wondering about what price home you can qualify to buy, this video is for you. If you’re thinking about selling your home, this video shares the three biggest mistakes most homeowners make and how to avoid them.  If you’re an investor who has been looking for the best income-producing property in [your city], this video is for you. When you create content that educates and entertains your ideal client, they will find you. P: Focus on people and your purpose To change your life, you must be focused on other people and be anchored in a higher purpose. Let me start with the focus on the people portion. Dreams come true through the assistance of or in service to other people and, in most cases, both. I touched on captivating your ideal client in the previous section, but understanding who your ideal client is leads to clarity in your messaging. It provides an understanding of what your marketing should be focused on and where it should be distributed. Become obsessed with servicing your ideal clients, and you will never lack for business. The second group of people to focus on are the employees and service provider partners that can assist you in providing world-class service to your ideal clients. Building a mutually beneficial lender relationship, inspector and insurance provider is a great way to build a trusted group of people you can grow alongside. From an employee standpoint, transaction coordinators, personal assistants or client care coordinators provide leverage for you to be able to serve more people at an even higher level. The reason focusing on your purpose is so important is that this business will test you. There will be disappointments and difficult transactions. The key is to focus on the true reason you are in this business. Maybe it’s a better lifestyle for your family, to make more money or even, in some cases, to prove someone wrong that doubted you in the past. Whatever it is for you, your ability to stay focused on your purpose will enable you to overcome any obstacles this business throws at you. L: Learn continuously When you decide to become the most consistent student in your market, it’s only a matter of time before your business grows. Learning how to become a better negotiator, marketer or communicator increases your value to clients and, in turn, will lead to more business. E: Execution Execution is the key to everything. You can learn everything you want to learn, and you can focus on your purpose as much as possible, but until you execute, nothing happens. For things to change, there will have to be a season of hard work. To create momentum and change in your life, there will be a season of struggle. But it will be worth it. This is the time and opportunity for you to change your future. Whether your change is being initiated via pain or inspiration, this is the season for you to move from the level you are currently on to the level you were destined to reach. Make decisions, and take action now in a way that your future self will thank you. Jimmy Burgess is the CEO for Berkshire Hathaway HomeServices Beach Properties of Florida in Northwest Florida. Connect with him on  Instagram  and  LinkedIn . More in Agent 11 things great buyer's agents know before they show a home Michael Ketchmark: Every move you make, we'll be watching you From Zero to $150K: This YouTube video strategy can deliver GCI wins The commission change mega-FAQ you need to start the historic week Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email. Forgot your username? If so please contact customer support at (510) 658-9252 Password Reset Instructions have been sent to Please contact the parent account holder or Inman customer service @ 1-800-775-4662 [email protected] . Coalesce's Select Membership is no longer active. Sign up for Individual Select membership today. Please update your billing information to reactivate your membership. You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here . Change Business Plan 102 IMAGES A Business Plan for Change How to write a business plan for a change management firm? Business plan pour bureau de change Change Management Plan Template Change Management Plan Exemple de plan de gestion du changement COMMENTS Bureau De Change Business Plan [Sample Template] A Sample Foreign Exchange/Bureau De Change Firm Business Plan Template 1. Industry Overview. If you are interested in starting a business in the financial industry in any part of the world, one of the businesses that you can successfully start with little stress is to start a foreign exchange/bureau de change firm; a business where people can exchange one currency for another. Bureau de Change Business Plan Template This document provides a sample business plan template for starting a bureau de change business. It includes an overview of the foreign exchange industry, executive summary, products and services, mission and vision statements, and a table of contents outlining the various sections of the full business plan such as market analysis, sales and marketing strategy, financial projections, and ... Sample Bureau De Change Business Plan Template PDF So without ado, here is a bureau de change sample business plan. BUSINESS NAME: Johnny Jones & Sons Bureau De Change, LLC. EXECUTIVE SUMMARY. Johnny Jones & Sons Bureau De Change, LLC is a fully registered and licensed bureau de change company that will be situated in New York. Bureau De Change Business Plan Template The global market size for Bureau De Change businesses is significant and continues to grow. Bureau De Change, also known as currency exchange or foreign exchange, is a thriving industry that caters to individuals and businesses looking to convert one currency into another. How to Start a Bureau de Change Business 18 Steps to Starting a Bureau de Change Business. 1. Understand the Industry. If you have visited any airport in Nigeria, or key commercial cities, you will be greeted by young men from the Northern part of Nigeria calling on you to know if you want to change 'Dollar' or any foreign currency. Write your business plan A good business plan guides you through each stage of starting and managing your business. You'll use your business plan as a roadmap for how to structure, run, and grow your new business. It's a way to think through the key elements of your business. Business plans can help you get funding or bring on new business partners. ⋆ ️ Office of change business plan ⋆ Qoodis.com BUSINESS PLAN MARKET ANALYSIS Bureau De Change. Market trends; The forex exchange / trading service desk is really a very big industry and of course it is a sector that works for individuals and companies from different sectors.If you know the trend of forex / trading industry forex, agree with you that many companies in the United States and other parts of the world are actively involved in ... Business plan pour bureau de change Besoin d'un modèle de Business plan pour votre projet de bureau de change. Chez Supernova, nous vous proposons de créer votre business plan pas à pas grâce à une application simple, rapide et intuitive. Pour être remarquable, osez vous démarquer ! Tester gratuitement l'outil En savoir plus. How To Start A Bureau De Change BDC Business In Nigeria and ... The requirements for starting a bureau de change business in Nigeria include the following: You must meet a minimum paid-up share capital of 35 Million Nigerian currency. A non-refundable application fee of N150k is required. Where applicable, you must provide a non-refundable fee of 150k for a change of name. Key Points on the Process and Requirements for Obtaining a Bureau de A Bureau De Change ("BDC") is a registered business licensed by the Central Bank of Nigeria ("CBN") to carry out or facilitate the sale, purchase or exchange. ... The Business Plan of a tier 1 BDC must include Branch Expansion Programme within the first five (5) years of operation. ... Floridians balk at DeSantis administration plan to build golf courses Families enjoy the beach at Oleta River State Park, Thursday, Aug. 22, 2024, in North Miami Beach, Fla. The park is Florida's urban park. A proposal by the Florida's Department of Environmental Protection to build new sports facilities, hotels, and glamping sites at eight state parks across the state has drawn a wave of opposition, not just from nature lovers and birdwatchers but also from ... PDF Authorisation Requirements and Standards for Bureaux de Change a Bureau de Change Business' with required supporting information and documentation1. The time scale for considering applications will depend ... Business Plan 4.1 An applicant shall submit a detailed business plan in the format, and containing the information, set out in Appendix 2 of the Guidance Note. (The business plan should include ... PDF Operational Guidelines for Authorised Dealers With Limited Authority A proposed business plan and 5 year projections of growth and profitability, including the assumptions supporting the projections; vi. Business risk management plan identifying the business risk and risk mitigation ... 4.2.6 A Bureau de Change shall buy/sell foreign currency in line with existing Exchange Control rules and regulations. In light ... How to Start, Run, Grow a Bureau De Change Business & Position your Chapter 4 emphasizes the importance of creating a comprehensive business plan for your Bureau De Change business. 4.1 Importance of a Comprehensive Business Plan A business plan serves as a roadmap for your BDC business, outlining your objectives, strategies, financial projections, and operational guidelines. How to Write a Bureau De Change Business Plan & Strategies for Bureau The executive summary is a concise overview of the Bureau De Change business plan. It provides a high-level summary of the key components, objectives, and strategies outlined in the plan. It is typically the first section of the plan and serves as an introduction to potential investors, partners, and stakeholders. BBB Tip: How to write a business plan Start your plan by outlining the purpose and goals of your company. Include a summary of your business objectives, products, and services, along with a realistic description of market ... New data shows US job growth has been far weaker than initially ... The downward adjustments were limited to the private sector, with nearly half in the professional and business services industry (revised down by 358,000, or 1.6%.) PDF BANK of ZAMBIA THE BANKING AND FINANCIAL SERVICES (BUREAU DE CHANGE fee of K 10,800.00, issue the applicant with a Bureau de Change Licence. 3.5.2 A license issued or renewed authorizes its holder to conduct the business of a bureau de change at the place or places of business as specified in the license, and is valid for a period of one year unless it is renewed or revoked or surrendered to the Registrar. 7-Eleven: Canadian retail giant makes £29.2bn takeover bid Shares in Seven & i jumped more than 20% following reports of the buyout bid A Canadian convenience store giant has made a bid worth $38bn (£29.2bn) for the Japanese-owned 7-Eleven in what could ... PDF OPERATIONAL GUIDELINES FOR BUREAUX DE CHANGE ii. Names of the key promoter(s) of the Bureau De Change; iii. Declaration by the applicant's board of directors authorising the company to be a Bureau De Change; iv. A proposed business plan and 5 year projections of growth and profitability, including the assumptions supporting the projections; v. PDF OPERATIONAL GUIDELINES FOR BUREAUX DE CHANGE ii. Names of the key promoter(s) of the Bureau De Change; iii. Declaration by the applicant's board of directors authorising the company to be a Bureau De Change; iv. A proposed business plan and 5 year projections of growth and profitability, including the assumptions supporting the projections; v. Tips on Starting and Running Successful Bureau De Change business in Setting up this business requires thorough planning, research, investment and professional advice. This article is a brief guide on how to start a bureau de change enterprise. The following are the steps you should take if you are interested in starting the business: Starting a Bureau de Change Company - Sample Business Plan Template 1. Kamala Harris's 2024 DNC Speech: Full Transcript Five days before Russia attacked Ukraine, I met with President Zelensky to warn him about Russia's plan to invade. I helped mobilize a global response — over 50 countries — to defend against ... Application Process for Bureau de Change Businesses Section 149A of the Consumer Credit Act, 1995 (as amended) ('the CCA') Bureaux de Change and Money Transmission Businesses providing relevant services must comply with Section 149A of the CCA which provides that you shall not impose a new charge or increase an existing charge for a service provided to a customer or a group of customers, without the prior approval of the Central Bank of Ireland ... PDF Guidelines for Bureaux de Change 3.4 Any Bureau De Change seeking renewal of its licence shall be required to show evidence of current membership of the Association of Bureaux De Change Operators of Nigeria. [ABCON]. 3.5 Every licensed Bureau De Change shall maintain a mandatory deposit of N1,000, 000.00 [as stipulated above] with the Central Bank of Nigeria as a caution money ... PDF U.S. Census Bureau: Business Plan for Change Below is a summary of the goals included in the Census Bureau's five-year strategic plan. Goal 1: Mission Excellence: The Census Bureau is the leading source of reliable, high quality, relevant statistics measuring a rapidly changing nation. Goal 2: Customer Service Excellence: The Census Bureau is valued by data users, trusted by the public ... Adobe Workfront Adobe Workfront is a cloud-based work management solution that helps teams and organizations plan, track, and manage their work efficiently. It is designed to streamline project management, task collaboration, resource management, and portfolio management across various teams and departments. The Republican Plan to Challenge a Harris Victory At the Democratic National Convention, party officials are celebrating polls showing that Kamala Harris is now competitive with Donald Trump in every major swing state across the country. A SIMPLE plan that can change your life and business forever Anytime is a good time to change your life and the way you do business for the better, Jimmy Burgess writes. Find out what it takes with this "simple" plan. News Change Business Plan in Word and Pdf formats Download or preview 2 pages of PDF version of Change Business Plan (DOC: 32.0 KB | PDF: 43.1 KB ) for free. Toggle navigation. Business; Education; Finance; Legal ... Change Business Plan; Change Business Plan. 1; 2; Objection to S ignificant De viation [OCC LOGO] Date . President . Name of Bank . Address . City, State, ZI P Code . Re: Request ... essay homework paper phd project resume review speech study thesis