Business plans aren't mysterious or difficult to write, but they can be complicated and time consuming depending on your operation. Business plans are written documents containing all details of your business startup and operational objectives and strategies. Startup and operating costs, sales, marketing advertising and sales strategies, pricing and profit margins, supplier lists, insurance information and other topics are included to give you blueprint of your business.
They are also used for obtaining business loans, securing investors and for other analytical purposes, and may be modified as the business matures to better outline and guide future operations. A business plan is not mandated or required for any business unless requested by an outside entity, and there is no "set format," so you will save money by doing it yourself if time permits. Business plan providers and business consultants are available for hire to complete your business plan.
Some firms charge by the hour, with others charging a flat fee based on the complexity of the plan. Costs vary widely, and are only as good as the information you provide, with better plans including multiple stages of the plan process. The business plan process begins with an analysis and outline, for which some companies will charge hourly rate, or a flat fee of several hundred to several thousand dollars.
The analysis fee is charged for the business plan writer to analyze all of the information you've provided. The resulting outline is a written report given to you that highlights and details the information before it is transferred to the business plan document. If you are paying an hourly fee, you may save money by providing the company with as much detailed information as possible. Research, phone calls and other information-gathering activities will add to the hourly rate.
If you are using your business plan to attract investors, obtain financing, venture capital or grants, a professional business plan company can provide plans with the necessary format and information needed to suit the particular objective. This type of plan usually on the more expensive side and you may be charged hourly or an estimated flat fee depending on the providing company, your business type, and complexity and the nature and purpose of the plan itself. If you are a small business and do not require a professionally produced plan, the cost to produce one yourself is equal to the hourly rate you've placed on your time plus the cost of any training or software you choose.
Some private consultants charge by the hour and let the client decide how many hours to budget for the work. However, fees for a business plan will still vary quite a bit. The cheapest way to get a business plan usually is to write it yourself. Small Business Administration offers guides, blogs and outlines, and the SBA's Business Plan Tool provides step-by-step assistance in building your own plan.
For businesses with very low start-up capital, this can be the best option. A business plan can cost less if you do the research and create a draft on your own, and then present it to a company or consultant for review and completion. For example, you could complete the written portion of the business plan and then have someone else help with the financials.
This can be a good option for entrepreneurs who can articulate their business idea clearly but may need help putting together realistic financial projections.
Review options are available for those who want a professional eye to look at their plan before proceeding. I am a professional writer, editor and business consultant with a background in public education.
I launched my own business in July and now apply my valuable business and marketing knowledge to writing and editing business plans for start-up businesses. Video of the Day. Brought to you by Techwalla.
Apr 19, · To know the exact price, consult the guys from writing a business plan cost. As far as I know, they provide quality business plans for any types of businesses costs. As far as I know, they provide quality business plans for any types of businesses costs.
Jul 19, · Low-cost software -- for under $12 a month -- is available from private companies and other sources to aid in the outline and completion of your business plan, or you may simply list topics, costs and other associated information in a notebook for reference. A business plan is not mandated or required for any business unless requested by an outside entity, and there is no "set format," so you .
If you hire a professional business-plan consultant, the rate will vary from person to person. Thumbtack, an online service that matches consumers with local professionals, quotes the average rate for a business plan consultant to range from $70 to $ per hour. A Good Business Plan Writing Service Costs US $$1,+ Depending on Required Length, Specs & Difficulty. Find Out More About Your Business Plan's Price.
The cost of a business plan varies greatly depending on what type of plan you need. Some plans may be as simple as an executive summary and a one-page financial worksheet, while others can be well over 50 pages and contain several years of financial projections. Should You Bring In A Consultant To Help Develop Your Business Plan? but do most of the writing yourself. This is an excellent use of your hard-earned money and will always be a good investment as long as you choose a real professional who understands your business. then the risk of not getting things right from the beginning far.