Writing your business plan is time consuming and not easy to do if you’ve never written one before and some people simply have difficulty expressing their ideas when it comes to writing them down. If you’re a little overwhelmed by the prospect of creating a business plan from scratch, there is help out there. There are consulting firms and accounting firms that specialise in assisting companies with their business plans. Most firms that prepare business plans charge fees based on the complexity of your business and how much work you’ve already done, and how helpful you can be during the process. The fee is based on the number of hours the consultant believes is necessary to complete the project, and most consultants will give you a firm proposal, including the completion date for the draft of the business plan, completion date for the final business plan, total payment and schedule of payments.
Price Determining Factors
- The type of business.
- How much market research you have completed.
- How much research and assistance you will be able to give during the process.
How much will I pay for a Business Plan Consultant?
Consultant rates can widely differ from $/£50 – $/£300 an hour, with flat-rate packages ranging around $/£400 to $/£3,000. and can be as much as $ /£30,000 and beyond for a complicated business. A reasonable fee for an uncomplicated business with you providing assistance seems to be between $/£3,000 to $/£8,000. Do some research and find a consultant that fits your needs and budget, you get what you pay for as they say.
Free for Finders Fee
Some consulting firms that are also finders or intermediaries to find the capital you need and will write your business plan at no out-of-pocket cost, or a very minimal charge, if you hire them to find your capital. The fees to introduce you to investors can range from 5% to 15% of the total amount of the capital raised. You only pay the fee when the funds are available to you. There are also finders firms that will give you a substantial discount on your business plan preparation fee, and defer the majority of the fee until the funding is completed or they may refund the business plan fee completely from the finders fee.
Business Plan Reviews
If money is an issue, you can draft the business plan yourself and then have a professional review your draft, recommend changes, identify gaps or inconsistencies, and help you improve the logic of the plan. Some review services include a free second review of your revised business plan in the initial fee or at least a lower fee for the second review. Business plan reviews can cost anything from $/£50 to $/£2.000.
A consultant will have the skill to take your vision for your business and produce a business plan that will appeal to investors and serve as a clear strategy towards making your business a success, but you must be the true expert when it comes to your business venture, if you don’t’ know your company, who does?
…….and writing a business plan could be easier than you think!
Try Enloop where you create your Business Plan for Free or upgrade if you need more help.
I hope you’ve found this helpful and are feeling a bit more confident about writing your Business Plan, if you still have questions ask in the comments below and I’ll do my best to help you out 🙂