The Cost of a Professionally Written Business Plan

A professionally written plan should cost anywhere between $1,500 and $30,000 if written by a professional Business Plan Writer who’s overall purpose is to write you a plan applicable to your company specifically. Although every plan is characteristic of the company for which it is written, there is a substantial amount of research and investigation required to obtain the necessary information for every individual project. The level of investigative efforts required to develop a detailed plan that correlates with the guidelines set forth by lenders and investors, is ultimately what determines how much a Business Plan will cost. Furthermore, the size and authenticity of the business being established is a determining factor as to the amount of research required, along with the characteristics of the particular market or industry. However, the range between the price of plans written for small businesses and larger companies is immense.

Typically, a plan prepared for a small business start-up should cost anywhere from $1,500 to $5,000. Once again that cost will be highly dependent upon the amount of research and investigation required. And, it is contingent upon the nature of that particular industry or market. Another aspect that plays a role in how much a Business Plan Writer will charge is the resourcefulness of the company owner. Most plan writers will have a client to complete a series of worksheets prior to each consultation, and the adeptness with which the client is able to complete these questionnaire’s is important in determining how much research and investigation will be required of the plan writer.

Be skeptical of online plan writers charging prices as low as $100-$200. These are what I refer to as “cookie cutter” Business Plan Writers, who obviously do not do the research and investigation necessary to create an adequate Business Plan. What these online scam artists do is apply superficial information about your company into a prefabricated Business Plan Template without including the detailed information required by lenders and investors. Several online companies also lead entrepreneurs into believing that the purchase of a template is adequate enough to create a professional plan. Remember, you will get what you pay for, and the most beneficial investment you can make for your company is a well written, precise, and detailed Business Plan.

~A.L. Demings~

Success comes to those who have the discipline to control their own destiny”
~A.L. Demings~

You Can Write a Business Plan for a Retail Business

A business plan is an important part of commercial planning. Proper planning is crucial for business-related success. This is important for big and small commercials, also for non-profit organisations.

The above document is an ideal vehicle to convert your strategic plan into a detailed blueprint to run your company successfully. The planning document contains the formal business goals, the reasons why the goals are attainable and the detailed roadmap to reach those goals. The roadmap also contains background information about the organisation and the management team.

This plan is a powerful management tool.

The plan is a written road map of the strategic plan of the enterprises. A well thought out and researched business plan will increase the chances for commercial success.

Properly done it gives strategic direction to the management and staff of the business.

Your plan is a dynamic document that must be updated on a regular basis as your business grow and change constantly.

Writing a proper plan is easier than what most people think. The first important thing is to find a business plan template that includes all important components that must be covered. Templates are available on the internet or from our website.

The success of any plan depends on the quality of the research that you do. With a retail trade enterprises you need to spend extra time to establish the correct profit margins. Speak to and investigate other comparable retail businesses in order to establish realistic profit margins.

In order to be successful a retail business require sufficient profit margin and low enough overhead cost. Comparable retail businesses will be able to give you an indication of what overhead cost to expect. Generally a profit margin is low for retail businesses and they require sufficient turnover to be profitable.

Make sure that you cover all sections of your business plan template in your research.

You can get help from other people for the sections of the plan that you do not feel comfortable with. E.g. get an accountant to assist with the financial section. Try to learn as much as possible in the process. This knowledge will come in very handy if you decide to go ahead with the venture.

Once you have completed the template you have a business plan. Use the plan to decide if your commercial idea is viable. A proper plan can have a very positive effect on business success.

Why You Need a Business Plan – Pt 1

1. A well-written business plan forces you to think your business idea through thoroughly.
Essential parts of your business plan will ask you to identify your companies strengths and weaknesses, breakeven point, and how you plan to market your business. It helps you identify what could make your business successful as well as what could cause it to fail. Things such as company policies and procedures, profit margins, and cost of goods are all identified in your plan. These things are essential to your company’s success. What if you created a small business that became wildly successful? You hire a staff to help you run it. The company’s financials show that it will continue to grow. Suddenly you become ill and are not able to run the day-to-day operations while you recover. Who will mange your company if this happens? Writing a business plan helps you determine these types of things before they occur.

2. It gives your business a clearly defined direction.
Your business plan is your road map to success. Imagine you and a friend decided to take a road trip from Los Angeles to New York. Only rather than following a map you decided to just drive east until you reached New York. In theory, because New York is east of Los Angeles you should eventually arrive in New York. However, we all know that this isn’t necessarily the truth. There are many roads and paths that can lead you into the wrong direction. One wrong turn and you could easily be heading back to Los Angeles and not even know it. By writing a plan you are giving yourself step-by-step directions on how to make your business a success. You are drawing yourself a map that gives direction. You’re also setting goals for your company that if are achieved, will guarantee your company’s success. Essentially you are writing your action plan.

3. It clearly identifies how much money is needed to start and run your business.
Often lost in the excitement of developing your business is the true cost of starting and running your business. With out a plan, it is easy to overlook some of the minor cost that add up to big dollars. The cost of shipping, printing, office supplies, insurance and taxes are some of the more forgotten about expenses. Often once these expenses are factored in, the cost of starting a business is much higher than anticipated.