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. Never aggressively, never in absolutes or dramatically negative. Some of our clients have asked for corrections to make a business plan sound more enthusiastic. We always warn against talking in superlative terms or sound over-optimistic, because it can weaken the credibility of the business plan and make the business plan recipients assume inexperience.
Of course we can write a super enthusiastic plan if the client explicitly wants this. Normally however, we like to keep it extra-sober. On the other end of the spectrum, we of course will never write a plan which leaves a trace of doubt that the business venture could fail.
Our business plans have the purpose to prove to potential investors and creditors that the business investment is a sound and safe one. If a business venture is highly unlikely to succeed, we tell the client beforehand during the consulting stage of the project. If the client insists, we might still take them, do the best we can and set them on their merry path. Still better than if they go and approach a competitor, none of which to our knowledge are able to do any better than us, but many delivering indeed heavily flawed work yes, we've seen competitor plans, and yes, some won't even pass for a joke, except a really, really bad one.
The following are the basic formatting guidelines for BrainHive business plans. As a normal business plan analyst, you are to not produce PDFs, watermarked or password-protected deliveries or indeed send us anything other than the open MS-Word document. Creating your business plan, note that everybody likes a little color in such a great big chunk of sober, serious business writing. You are expected to have at least three visual elements in your business plan.
Depending on the volume, it can be a lot more still. Not only charts and diagrams that you come across during your market research are potential candidates for being copy pasted into the plan, web screenshots for instance of maps, products etc. Relevancy is key — make sure whatever visual elements you put into the plan has a legitimate reason to be in that same exact spot. Do not use the visual element simply for the sake of having a visual element there.
As much as it is sad to deliver a desolate, dry text desert, the damage caused by raised eyebrows of business plan recipients over out-of-line or arbitrary visuals is sadder still. If you are making specific numerical claims or citing someone in the market analysis or if you are featuring a diagram or chart, it is useful both for us as well as for the client if there is some kind of reference as to where you found that particular piece of data. Certain projects, especially when we are writing a business plan which is part of an academic assignment, will require you to expose your sources in a very detailed fashion according to the respective national citation guidelines valid for that client, which will be communicated to you in your briefing.
When processing a normal business plan assignment, it is not necessary for you to show the exact link of the page where you found the material and make an elaborate footnote with the Microsoft office footnote tool — however, of course we appreciate your extra effort. What you definitely have to do is mention the name of the medium where you found the figures , for instance a certain market research Institute, magazine or a white paper of some large consulting firm.
Put it right there in the body content, embedded harmoniously in the head sentence of the paragraph in which you mention it. Switching sources or mixing statements from different sources, make sure it remains reasonably clear from which sources the respective statements are derived from. While again you do not need to necessarily include the link, it is important to also show the date of the publication in question.
The quality of a business plan lives to considerable extent off of its market analysis, and the market analysis lives off of concrete, reliable figures that give the reader an idea about the volume and the growth of the market in question.
For most projects, you will have no difficulty to find ample market intelligence data floating around in the World Wide Web.
Simply intelligently using Google you will already find a host of useful articles that you can sift through for relevant figures. When things get tough, you can help yourself to a large number of websites which will usually carry exactly the kind of market data that you are looking for. When you are dealing with a particularly specific topic, sometimes you will need to become creative in the sense that you construct your market analysis deductively or inductively remember you must always find a way to interpret the market data so that the reader of the business plan will be convinced that the business endeavor will be successful.
Simple stuff really, but it takes a little practice before you have the routine of pulling together a sufficient number of pieces of intelligence which might be useful for constructing your case that will leave investors feeling sure about their investment.
Once you get the briefing, you should as soon as possible review all the files that we sent you and decide if the material is complete enough for you to draft up the first business plan version. If things are unclear or the briefing material is incomplete our lead-managing consultants only do a quick review on completeness and do not study in detail all the briefing material , you will need to collect all your questions and remarks about possibly missing briefing material in one email which should already be written and phrased well enough for us to pass on directly to the client without further touch-up.
Therefore, when compiling this email, make sure that you cover all the questions and that you write in the correct tone and free of typos to make workflows smooth and efficient. When hiring new analysts, we most often struggle with mistakes born out of carelessness. Our quality assurance analysts are responsible for improving, logically validating and visually checking business plans one last time before they are passed on into the hands of our clients.
These expensive, experienced and well-trained analysts must not be regarded as a sort of elementary school teacher responsible for correcting avoidable mistakes. The time needed for this is priced into the budget for each plan, and again, I will have to call you up for a feedback session if you repeatedly forego diligent finalization of drafts.
One smart step to reduce the chance of submitting a draft which will cause face palms and subsequent respective feedback is to always spell-check your drafts with the MS-Office function but do not slack off at manual proofreading even using spell-check. In the same spirit, you can also ensure to be on the safe side of things by looking up certain phrases on the Internet if you are unsure about spelling, especially when it comes to capitalization of questionable words Germans: Aufpassen auf subjektivierte Adjektive und Verben!
There are some things in life, which are unfortunately not optional, such as taxation, or dying for example. That is why we call important delivery dates deadlines — never miss them. At BrainHive, we pride ourselves so much with being faster than our competitors when it comes to delivering stellar business plans, that we have decided to make delivery time part of our set of the six BrainHive Business Plan Guarantees. If you miss your deadlines, you not only bring disharmony into our workflow processes, you also could jeopardize the full payment of the business plan.
Since many of our analysts are working remote independently located , adherence to deadlines is of even greater importance to iron out time zone differences. Make sure you receive, check and read carefully your BrainHive email correspondence on week days. BrainHive never sleeps and I personally work on holidays and weekends more often than I would like. However, as a regular freelancing associate, you are of course not expected to work during off time.
If you can beat deadlines and deliver with a cushion of time remaining before delivery is due to the client, you help us to achieve fuller client satisfaction. You will usually receive as part of the briefing two sets of deadlines. One is the status report deadline, usually due within week days and the other one is the final draft deadline, usually due within week days after the briefing was delivered.
The status is for us to check whether you're headed into the right direction, so you should have 1,, words ready for us to look at. The final draft on the other hand is that what you want to give to the quality assurance analyst for evaluation and finalization before the plan is forwarded to the client.
Yep, and that's why we are both careful when selecting candidates to become business plan writing analysts and also have a lot of patience training you and giving useful feedback. In Germany we have a proverb saying "masters don't fall from the sky"- and they don't. So while I'd definitely like you to pay close attention to the instructions which I myself as BrainHives's founder outlined for you in this manual, I also want you to have fun working for us and not worry so much about perfectionism at first.
You learn a lot and you get to jump headfirst into ever-changing, current and sometimes more, sometimes somewhat lesser so exciting topics. And what's definitely always dazzling to think of is the idea that your work, if executed well, will impact someone's life tremendously, talking hundreds of thousands of dollars here, in some cases millions. And that's something not everyone can say of their work. Have us directly calculate an offer for your business plan. BrainHive is known through our publications in:.
BrainHive Consulting is a registered vendor with Unidos, the intelligence and resource sourcing hub of the United Nations. Here you will find answers for the most common questions concerning our business plan service. Calculate Offer Learn in this article: Rose Mae Turner Fashion Designer. Patrick Riehl Real Estate Agent. Reinhold Weber Factory owner.
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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. 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 .
However, you will get a comprehensive business plan written by a dedicated team of specialists in marketing, finance and industry. Business plans written by firms can cost many thousands of dollars. A typical small firm may offer simple business plans for as little as $1,
Jul 19, · 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. Apr 19, · 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.
May 31, · Im curious how much it would cost if I had: 1. An attorney do it 2. An online company I have a writer who's helped me for this new business start up that I have. So far he's helped me through Q/A on this website. I fell in love with his writing and we continued our business relationship on this website where he would help me create what I needed for my business.5/5. A professional business plan consultant will generally charge between $3, and $15, for a complete business plan (although there are cases where $50, is justified). The low end applies for “simple” businesses such as a pizza shop, a small retail store, a hairdressing salon, etc.