Virtual Assistant Business Plan Template [Updated 2024]

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V. Competitive Analysis


You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Direct & Indirect Competitors

The following companies and establishments are popular within the virtual assistant industry and, therefore, directly or indirectly compete with [Company Name].

Time etc.
Time etc. is a virtual assistant company that connects companies with a network of experienced virtual assistants. Each virtual assistant that works for the company has five to eight years of experience, meaning clients are ensured great quality work and professionalism.

Though Time etc. is full of quality virtual assistant companies, the company itself needs to make a profit, so its services are often more expensive than just hiring a virtual assistant directly. This keeps many companies from utilizing their services and finding a virtual assistant they can hire directly instead.

Upwork
Upwork has been the most popular freelance platform in the world for years. Companies have instant access to millions of freelancers who provide a variety of services, from writing and translation to coding or legal services. Companies can post a job for freelancers to apply to our purchase service packages that freelancers offer.

Though Upwork has been the #1 freelancing platform for years, the platform is often flooded with freelancers that vary in their quality, and it can be hard to find the right virtual assistant for one’s needs. Furthermore, the platform can be confusing to navigate, making the hiring process much more difficult.

Fiverr
Fiverr is another freelancing platform that connects businesses with millions of freelancers located all around the globe. Businesses can find freelancers that offer all sorts of functions, from writing and marketing to data entry and coding. Whatever project or service is needed, a business can find a freelancer to help them out.

Despite Fiverr’s popularity, it is not a great service for companies looking to form long-term relationships with their virtual assistants. The primary form of connecting with a freelancer is by purchasing a one-time service. This makes it hard to find a virtual assistant to help out with ongoing tasks and responsibilities. Virtual assistant services are often ongoing, meaning it is not a great platform to find a long-term virtual assistant.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

  • Client-oriented service: [Company Name] will tailor its services to meet each client’s needs. [Founder’s Name] will work to establish trust and a relationship before starting work so that the company knows that she is the best assistant for their needs.
  • Management: [Founder’s Name] has been extremely successful as an administrative assistant and has years of experience in most of the tasks that clients will request. Her knowledge and skills will provide a high-quality experience.
  • Relationships: Having been an administrative assistant for [X] years, [Founder’s Name] has established a great rapport with many of her previous employers. Therefore, she has many testimonials and recommendations that will help her build a strong client base.
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