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Executive Summary
TimeSavers is a full-stack concierge service business that serves both residents and corporations. Our main keys to success include our 24/7 service and ability to carry out any errand imaginable. We've also managed to save thousands of dollars in rent and utility expenses, given that our business is run remotely.
TimeSavers also has an aggressive marketing strategy. We've set out to become the leading concierge service in Baltimore, a market we see as underserved. We have numerous customers across the more affluent neighborhoods of Baltimore City. This includes areas such as Fells Point, Cedar Croft, and Little Italy.
It's evident that the areas that we've chosen to serve have helped us generate sales. Our studies suggest that individuals who have a median household income of $40,000 are more likely to use concierge services. Considering that they're more likely to lead busy lifestyles or run their businesses, they rely on concierges to make their lives easier.
As more businesses and households become available in Baltimore, we expect a growth in sales. Our forecasts suggest that we'll experience a growth of at least 2.2% YoY over the next 5 years.
By continuing to serve the many concierge requirements of our customers, recruiting a high-quality staff, and continuously studying the market, we'll be able to achieve our ambitious sales goals consistently.
TimeSavers Concierge is seeking a $50,000 loan to fund a service vehicle, marketing, and staffing in the first 12 months.
Financial highlights:
| Metric | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Revenue | $684,230 | $702,910 | $719,480 |
| Gross margin | 64% | 64% | 64% |
| Net profit / (loss) | $40,118 | $42,221 | $44,441 |
Company Overview
TimeSavers Concierge is a personal & corporate concierge service founded by Dylan Troussard, operating as an LLC. Headquartered in Baltimore, Maryland, USA, TimeSavers Concierge was established to serve the growing demand for specialist services in this sector.
Mission: To deliver exceptional value to our customers through expertise, reliability, and a commitment to continuous improvement.
Business objectives:
| Period | Target |
|---|---|
| Year 1 | Put the $50,000 loan into a service vehicle, marketing and staffing; hold net profit at $40,118 |
| Year 2 | Grow revenue by 2.7% to $702,910; add hotel partners beyond the current 17 |
| Year 3 | Grow revenue to $719,480 and net profit to $44,441; deepen repeat corporate business |
TimeSavers was founded by Dylan Troussard in 2017. Dylan is currently the acting CEO of the company. It's registered as an LLC in the state of Maryland.
Our founder has just over a decade of experience as a procurement manager. He worked for companies such as Acrinvest and Barloworld, making him a highly respected professional in his field.
This corporate experience has allowed the company to grow fairly quickly, given the competitive nature of the market.
TimeSavers has a team of 14, including the management team. 4 of our staff have worked for the company since its inception. The company's primary mission is to provide high-ticket clients with a high level of concierge services.
Market & Customer Analysis
The concierge service industry is especially vibrant. It's also expected to grow significantly over the next few years. When we last checked (October 2026), the global concierge services market generated $647.3 million in 2022 (Allied Market Research).
We intend to increase our market share consistently by capitalizing on key industry trends. By taking advantage of the various opportunities that are bound to present themselves, we'll be able to stay ahead of the competition.
One such trend that we’ve acted upon is providing luxury concierge services. This ultimately transcends what concierge services are typically known to deliver for their customers.
We oversee world-class lifestyle experiences such as shark diving, gallery exhibits, and pet pampering for hotel guests in particular. Offering these services has certainly been instrumental in standing out from our Maryland-based competitors.
Contrary to popular belief, there is a significant demand for concierge services in the US. This apprehensive attitude towards the industry is a result of a lack of experience and adequate research amongst entrepreneurs. We predict that the market will become less saturated as the current industry players gain a larger market share and continue to innovate.
Customer analysis:
Our target audience is made up of 25 - 80-year-olds who have a disposable income. They quite simply don't have the desire to carry out menial tasks such as paying traffic fines, buying groceries, and washing their pets.
One can also attribute their support of our business to their desire to have flawless lifestyle experiences. For instance, roughly 35% of our customers are hotel guests who require a professional concierge service to ensure they have a pleasant experience.
We have a rigorous feedback procedure that has provided us with valuable insights into the preferences and expectations of our target audience. For instance, we've established that our clients don't mind our considerably higher price points. We've also learned that over 90% of our customers think of us as a 5-star concierge service.
The second customer segment that we rely on to reach our sales goals is medium to large companies. These organizations need our concierge services to increase the productivity of their staff members. This customer base is highly lucrative for our company as we receive a great deal of repeat business.
Competitor analysis:
| Competitor | Strengths | Weaknesses |
|---|---|---|
| Quintessentially | Established global luxury brand, wide reach | Membership model; higher price point |
| John Paul | Corporate concierge scale, international presence | Large international operation; not Baltimore-based |
| Velocity Black | App-based, technology-led service | Digital-first model; less in-person local presence |
TimeSavers Concierge’s competitive edge: Specialist expertise, personalised service, and a clear focus on the underserved segment of the market set us apart from the established players listed above.
SWOT analysis:
| Positive | Negative | |
|---|---|---|
| Internal | Strengths: Trading since 2017 with a team of 14; 24/7 service across a wide range of errands; partner listings in 17 Maryland hotels; repeat corporate business; low overheads from remote operation | Weaknesses: Small two-person sales team; single-city focus; reliance on hotel guests for about 35% of customers |
| External | Opportunities: Demand for luxury lifestyle experiences; corporate staff-productivity services; new hotel partnerships; growing Baltimore business and household base | Threats: National and global concierge brands with greater resources; economic downturn reducing discretionary spend; slowdown in travel and hotel occupancy |
Sales & Marketing Plan
We’ve opted to focus on a direct sales strategy. By reaching out to hotels and companies in and around Maryland, we've been able to achieve significant success in terms of our revenues and profits.
This has required us to employ 2 talented sales agents who reach out to these customer segments daily. We've implemented an incentive program to motivate our sales team and ultimately fast-track our growth. This includes a commission structure and paid vacations.
It's crucial to have extraordinarily high customer service standards in this industry, especially since our customers are made up of high-income individuals who expect the very best. Our level of customer service for our clients has proven to be an excellent way to generate sales.
As mentioned above, price is no problem for the vast majority of our target customers. However, we offer a 10% discount at the start of the year, which is our off-peak season.
Our sales forecasts suggest that we'll experience a minimum of 2% growth every year. This consistent growth will help us generate just under $127,000 in net profit over the following 3 years.
Additional marketing notes:
Developing an effective marketing plan has required a substantial amount of trial and error. We've placed emphasis on digital marketing to reach hotel guests in Maryland. This targeted advertising on Google reaches Maryland residents and visitors directly.
This digital marketing tactic is considerably expensive. However, it has yielded desirable results over the last 4 years. Considering that most travel bookings are now made online, this marketing strategy should prove essential moving forward.
We also advertise our concierge service in the establishments of our accommodation partners. We enlisted the services of a graphics designer to create a poster to attract clients who are already staying in local hotels and B&Bs.
Hyatt Place, Days Inn, and Hampton Inn are the hotels that have helped us yield significant profits with this marketing strategy.
Beyond that, a large portion of the hotels we work with share a list of activities that their patrons can partake in during their stay. TimeSavers is listed as a partner in 17 hotels across Maryland.
Social media marketing is an essential part of the bulk of businesses across the US. In our experience, it's been relatively ineffective. Making use of our targeted traditional marketing tactics has yielded the desired results for our company.
Operating Plan
Key personnel and duties:
Phillip Graham — Concierge Manager
- Responsible for overseeing the daily operations of our business
- Working as a bridge between our concierges and upper management
- Ensuring that all customer bookings are scheduled and budgeted for
Pierre Connors, James Lampard and Kent Smith — Concierges
- Carrying out client requests as per their unique demands
- Handling customer inquiries and complaints promptly
Fettie Brown — Operations Manager
- Ensuring that all parts of our business are running smoothly
- Assisting with customer inquiries where necessary
Harriet Hargreaves — Sales Manager
- Ensuring that our sales team is achieving its goals consistently
- Developing new sales strategies to enhance our sales performance
Frank Moore — Social Media Manager
- Managing our social media pages
- Keeping an eye on the growth of our business whilst ensuring we achieve the necessary levels of growth
William Thomasville — Concierge Assistant
- Assisting our senior concierges where necessary
Management Team
Given the nature of the concierge service business, we've been able to run a tight ship with a relatively small management team. These are the individuals who are responsible for driving the growth of our business.
CEO: Dylan Troussard
Dylan has the inherent ability to make key business decisions. This has enabled our business to grow at a relatively fast rate. His professional experience as a procurement manager has been complemented by his MBA from Johns Hopkins University.
CFO: Regina Wilde
Regina is the second longest-serving staff member at TimeSavers. She's responsible for balancing our books, drafting sales forecasts, and helping us stay within our budgetary constraints. Regina is a natural-born leader and has contributed to the personal and professional development of our staff members over the years. She studied accounting at the reputable University of Baltimore.
CMO: Carla Stewart
Carla is in charge of organizing and implementing our marketing efforts. She also has ample customer service experience - she worked as a teller whilst putting herself through university, which speaks to her hardworking personality. She gained her communications certification from the University of Nebraska.
HR Manager: Gary Player
Gary has helped us recruit our members of staff over the years. Beyond that, he also ensures that our recruits are content in their respective positions. He studied finance at Loyola University and later pivoted to human resources.
Financial Plan
Projected Profit or Loss Statement (in USD):
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Sales | $684,230 | $702,910 | $719,480 |
| Direct Cost of Sales | $53,870 | $55,460 | $56,990 |
| Production Payroll | $192,380 | $198,040 | $202,660 |
| Total Cost of Sales | $246,250 | $253,500 | $259,650 |
| Gross Margin | $437,980 | $449,410 | $459,830 |
| Gross Margin % | 64.0% | 63.9% | 63.9% |
| Operating Expenses | |||
| Sales and Marketing Expenses | |||
| Sales and Marketing Payroll | $101,600 | $104,100 | $106,900 |
| Advertising/Promotion | $31,400 | $32,100 | $32,700 |
| Other Sales and Marketing Expenses | $4,200 | $3,900 | $4,400 |
| Total Sales and Marketing Expenses | $137,200 | $140,100 | $144,000 |
| General and Administrative Expenses | |||
| General and Administrative Payroll | $161,900 | $165,200 | $168,700 |
| Depreciation | $12,200 | $10,580 | $9,580 |
| Dues and Subscriptions | $1,850 | $1,900 | $1,980 |
| Professional Fees | $5,600 | $5,800 | $6,100 |
| Software Purchases | $7,400 | $7,800 | $8,100 |
| Insurance | $9,800 | $10,300 | $10,700 |
| Telephone and Internet Access | $6,100 | $6,300 | $6,400 |
| Miscellaneous | $4,300 | $4,500 | $4,650 |
| Payroll Taxes | $37,382 | $38,322 | $39,217 |
| Total General and Administrative Expenses | $246,532 | $250,702 | $255,427 |
| Total Operating Expenses | $383,732 | $390,802 | $399,427 |
| Profit Before Interest and Taxes | $54,248 | $58,608 | $60,403 |
| EBITDA | $66,448 | $69,188 | $69,983 |
| Interest Expense | $2,147 | $3,775 | $2,688 |
| Taxes Incurred | $11,983 | $12,612 | $13,274 |
| Net Profit | $40,118 | $42,221 | $44,441 |
| Net Profit/Sales | 5.9% | 6.0% | 6.2% |
Projected Cash Flow Statement (in USD):
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Cash Received | |||
| Cash from Operations | |||
| Cash Sales | $376,327 | $386,601 | $395,714 |
| Cash from Receivables | $306,860 | $315,412 | $322,971 |
| Subtotal Cash from Operations | $683,187 | $702,013 | $718,685 |
| Additional Cash Received | |||
| New Long-term Liabilities | $50,000 | $0 | $0 |
| Subtotal Cash Received | $733,187 | $702,013 | $718,685 |
| Expenditures | |||
| Expenditures from Operations | |||
| Cash Spending | $493,262 | $505,662 | $517,477 |
| Bill Payments | $137,379 | $144,234 | $147,745 |
| Subtotal Spent on Operations | $630,641 | $649,896 | $665,222 |
| Additional Cash Spent | |||
| Long-term Liabilities Principal Repayment | $9,100 | $9,900 | $10,800 |
| Purchase Long-term Assets | $38,600 | $4,200 | $5,100 |
| Dividends | $0 | $12,000 | $16,500 |
| Subtotal Cash Spent | $678,341 | $675,996 | $697,622 |
| Net Cash Flow | $54,846 | $26,017 | $21,063 |
| Cash Balance | $102,146 | $128,163 | $149,226 |
Projected Balance Sheet (in USD):
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Assets | |||
| Current Assets | |||
| Cash | $102,146 | $128,163 | $149,226 |
| Accounts Receivable | $32,843 | $33,740 | $34,535 |
| Total Current Assets | $134,989 | $161,903 | $183,761 |
| Long-term Assets | |||
| Long-term Assets | $61,000 | $65,200 | $70,300 |
| Accumulated Depreciation | ($28,100) | ($38,680) | ($48,260) |
| Total Long-term Assets | $32,900 | $26,520 | $22,040 |
| Total Assets | $167,889 | $188,423 | $205,801 |
| Liabilities and Capital | |||
| Current Liabilities | |||
| Accounts Payable | $7,471 | $7,684 | $7,921 |
| Subtotal Current Liabilities | $7,471 | $7,684 | $7,921 |
| Long-term Liabilities | $40,900 | $31,000 | $20,200 |
| Total Liabilities | $48,371 | $38,684 | $28,121 |
| Paid-in Capital | $15,000 | $15,000 | $15,000 |
| Retained Earnings | $64,400 | $92,518 | $118,239 |
| Earnings | $40,118 | $42,221 | $44,441 |
| Total Capital | $119,518 | $149,739 | $177,680 |
| Total Liabilities and Capital | $167,889 | $188,423 | $205,801 |
| Net Worth | $119,518 | $149,739 | $177,680 |
3-year profit & loss projection:
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Revenue | $684,230 | $702,910 | $719,480 |
| Concierge labour and direct service costs | $246,250 | $253,500 | $259,650 |
| Gross profit | $437,980 | $449,410 | $459,830 |
| Gross margin | 64% | 64% | 64% |
| Salaries, wages and payroll taxes | $300,882 | $307,622 | $314,817 |
| Marketing and advertising | $35,600 | $36,000 | $37,100 |
| Rent and utilities | $0 | $0 | $0 |
| Other operating costs (incl. depreciation, interest, tax) | $47,250 | $47,180 | $47,510 |
| Total operating expenses | $383,732 | $390,802 | $399,427 |
| Interest and income tax | $14,130 | $16,387 | $15,962 |
| Net profit / (loss) | $40,118 | $42,221 | $44,441 |
Break-even analysis:
- Estimated monthly fixed costs: $32,000
- Monthly revenue required to break even: $50,000
- Current revenue of about $57,000 a month is above this level, so each projected year shows a profit.
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