More complex plans can range into the high thousands, based upon the firm, the amount of staff members operating on the strategy along with the range of the plan. Hiring A Traditional Consulting Company Using a traditional consulting company to write your business plan might make more sense when you are looking to raise a larger amount with your business plan.
A lengthy plan with five years of financial projections might still cost a few thousand dollars, however, the total price can be much higher depending on the scope of work and the amount of consulting required. Some traditional consultants charge by the hour and let the customer decide how many hours client can budget for the work. Our approach at GoBusinessPlans is to custom scope each engagement based on the the specific requirements of each client. Writing It Yourself The least expensive way to acquire a business plan usually is to compose it yourself.
The U. For companies with very low startup capital, this can be the ideal option. Combining Services Another option for businesses looking for a business plan option is potentially doing some of the initial leg work and then working with a business plan company to finalize the business plan.
A business plan can cost less if you do the research and make a draft on your own, and then introduce it to a company or consultant for review and completion. For instance, you could complete the written part of the company plan and have somebody else help with the financials. Its writers have extensive experience in financials and business.
Applying that knowledge to a business plan, even for a startup, means you will get not only a well-written and well-researched plan but also one that is informed by their years of expertise. This is also a company you can build a relationship with—get coaching and assistance in other areas of your business.
Wise Business Plans has one of the widest varieties of plans of the providers we reviewed. Its business plans are well-researched and thought out, as well as beautifully designed. It works to make sure your ideas and the plan are sound and offer additional services to help you with execution, including funding referrals.
Visit Wise Business Plans. To get a specific quote, call for a consultation. It also offers professional feasibility studies, PowerPoint presentations, pitch decks, and straight market research. Wise Business Plans has a reputation for doing more than creating a plan for you. It challenges you to make sure your assumptions and ideas are the best they can be.
Reviewers on its Facebook page praise the quality of the final product, noting especially the graphics. Pro Business Plans gets props for the focus of its plans. While all the services we reviewed will build custom business plans, Pro Business Plans is one of the few that has plans that specifically focus on specific issues. Visit Pro Business Plans. In addition to the variety of plans and experience of the writers, what impressed us about Pro Business Plans was that users said they often went beyond simply writing the plan, providing advice and coaching during the process.
Other reviews praised its market and financial research. While Go Business Plans can work with any industry, its business consultants have had notable success with E-2, EB-5, and L-1 visa business plans. It can create business plans for investors, Small Business Administration SBA loans, and strategic and internal planning. Visit Go Business Plans. This business plan writing service offers expertise at competitive prices, and according to past customers, is willing to go the extra mile to help ensure success.
Many customers of its business plans went on to use its other services such as website development. Rather than a consulting service that writes the plans for you, LivePlan is a software that helps you build a business plan. This is the right choice for the entrepreneur on a budget or one who has done the research and needs a software to help them put it into an attractive format for presentation. Visit LivePlan. LivePlan has a pay-as-you-go system but discounts for multiple months.
LivePlan offers an economical way for businesses that are comfortable with their data to create professional business plans for investors or banks. Additionally, it lets you create as many as you wish, so you can customize your plans for your audience or need or update them as your company grows. With budgeting and forecasting tools, it also helps you execute your business plan so your company can succeed. For research purposes, be sure to know which type of business plan is right for your company.
Each of the six business plan writing services reviewed offers decades of experience, high-quality reports, and reasonable prices. Learn more about How to Start a Business in our complete guide. Blake Stockton is a staff writer at Fit Small Business focusing on how to start brick-and-mortar and online businesses. Prior to joining Fit Small Business, Blake consulted with over small biz owners and assisted with starting and growing their businesses.
I love the fact that you were objective in your comparison, which makes this article a good read! Wewere very disappointd with the service and quality of the Wise Business Plan. Much happier with the depth of knowledge and prfessionalism of the optimalthinking plan.
Their market research is excellent. Donald, Thanks for sharing your personal experience for our readers. The Optimal Thinking team are brilliant consummate professionals. They charge more than the run of the mill business plan firms because they go the extra mile to be successful. The business plan wowed the two venture capitalist firms we pitched. Thanks for the fantastic analysis. Harvey, Thanks for sharing your personal experience using Optimal Thinking. We love insights from readers.
Laura, HR. Bettie was superb and delivered the business plan that got me my funding at a fairest price i can ever imagine. Thanks for dropping in. We use a business plan price overview to show how volume requirements, degree of difficulty and objective of the business plan influence the budget needed to write a high-quality plan. This is similar to the results we found.
You must be logged in to comment. Click a "Log in" button below to connect instantly and comment. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. Fit Small Business content and reviews are editorially independent. We may make money when you click on links to our partners.
Learn More. Bargain Business Plan. Optimal Thinking. Wise Business Plans. Pro Business Plans. Go Business Plans. Bargain Business Plan Pros. Optimal Thinking Pros. Wise Business Plans Pros. Pro Business Plans Pros. Team members from big accounting firms; works with people in immigration.
Hence, the typical cost for a writing job may vary. Questions will need to be asked to have an idea of what is required by you. You may require certain criteria to be followed. So, while following the general format of business plan writing, your plan is being customized to fit your business needs. This can either reduce or increase the cost.
These questions will border on the number of employees, possible expansion of the business, profit and growth projections, as well as marketing strategies among others. The answers you provide help put together a unique and solid business plan. Not every business can afford tens of thousands of dollars as expenses towards writing a plan. This is why there are smaller writing services that will charge less.
You only need to provide all the information required for the job to begin. This is irrespective of what option you choose. A professional will require all of this information. You may have started the process yourself or gotten midway. Thus, you can get a significant cost reduction. So, in providing an answer to the question, yes! A business consulting firm or professional writer will handle this part of the job when such plans are produced by them.
On the other hand, writing your business plan yourself will require reviewing your work. You should let someone do this for you, but such a person must be knowledgeable and conversant with the proper structuring of plans.
Reviewing your plan may cost you some money. Nevertheless, this will be much cheaper when compared to giving the entire job to a professional. Because of its limited scope. When the cost for writing a business plan is being discussed, questions dwelling on preference usually comes up. This is quite tricky and totally depends on what options you feel will work best for you. This should give you a clear idea of what option best fits your needs and budget.
You can significantly cut down on cost by writing your business plan yourself or handling a section of the job. On the other hand, it will be best you allow the professionals to write one from scratch. This is the best option if you have no experience in this area. Your email address will not be published.
Whether you're writing the content yourself or hiring a professional plan writer, the time it takes to create the document will cost you money. To determine exactly how much your time costs, multiply the value of one hour of your time by the number of hours you invest in developing the plan. If you hire a professional business-plan consultant, the rate will vary from person to person.
Consultants not only write plans; they also review plans and make recommendations, based on work you have completed. If you choose to write the plan, a variety of software is available to make that an easy task. Many of these tools are free downloadable templates from organizations such as the U. Although these templates are fairly detailed and include instructions on how to fill them out, they are basic in design. If you want a business plan that has color charts for financials and a professionally designed layout, you can purchase software for a PC or an iPad.
According to Business. Some packages include teaching units, as well as several example pages, in case you get stuck on a section. They may also include programming that calculates sales and growth projections, based on your actual figures, and they automatically create charts and graphs to include in the plan. There are also business plan writing programs available from vendors who charge a monthly fee.
Software from companies such as enloop and LivePlan, not only assist with researching, compiling data and writing the actual plan, they also maintain a dashboard for monitoring the health of your company, once you're up and running. Financial data can be tracked, along with your budget and sales goals, so that necessary adjustments can be made. Costs for these programs vary, as to service features and whether you pay month-to-month fee or a year's service up front.
If your business plan looks like as if it is going to be more complex or if you really do not like to write, you may want to hire a professional consultant to do that for you. You will need to collaborate with the consultant on the project and you'll need to provide a lot of information, but the consultant can do the bulk of the writing.
The consultant is also able to ask questions and guide your thinking so that you can formulate a comprehensive plan that best meets your needs. These figures are based on their hourly rate and on any other special services they may include. Although professionals debate the value of one method over another, choosing between a traditional plan or a newer "lean" plan, called a business canvas, will also be a determining factor in your costs.
A full business plan is a longer document that ranges from 30 to pages, depending on the complexity of the project.