Review and compare business plan writing services. We’ve made it easy to find the right business plan service for your needs. Below we’ve listed the most popular business plan writers, how much they charge, and posted customer reviews. Hopefully this will help you to choose a great service to help you write your business plan.
|Growthink||$1900||For over 15 years, Growthink has provided business plan services to more than 3,000 satisfied clients including startups and Fortune 1000 companies. Growthink Reviews
|BizPlanIt||$1975||Bizplanit has been in the business plan writing and consulting game since 1997 and have helped thousands create successful business plans. Read BizPlanIt Reviews.|
|MasterPlans||$900||Their immense experience (completed over 7000 business plans) allows them to complete your plan in about a week. Masterplans Reviews
|SMG||$750||20 years of hands on industry experience in investments and business plan writing. SMG Reviews
Tips on How to Choose a Business Plan Writing Service
1. Success Rate – Instantly, most people want to look at the success rate of a business plan writing service. Unfortunately, this number is very misleading and overall, it is not very helpful. A lot of business writing services are quick to point out their success rate, and they are normally almost unbelievably high.
What defines success? Their business plan got them a loan, it must have been a success. But what if the loan was only half of the money they needed or had an interest rate that was through the roof? Is it still a success?
While a success rate is important to look at, there are other indicators that can give you an idea of how good a business plan writing service really is. Look at a list of former clients, ask for references (with a way to contact them), or just ask them what their success rate actually is.
2. Cost – You should never use a business plan writing service that charges the same flat rate to everyone. While flat rates are fine, they should not be universally constant. If they are, then you can expect that they give everyone the same amount of attention, which isn’t always a good thing. Since writing a business plan requires some leg work on their end, their price to reflect variables like market size, concept complexity, financial model complexity, and much more. If you pay for a cookie-cutter price, then you will get a cookie cutter business plan.
3. Communication – If the business plan writing service will only talk to once before creating your business plan, then you may want to shy away from them (or it had better be a really long conversation). Understanding you business, especially its finances, growth opportunities, and projected future should take more than a 10 minute conversation. The best business plan writing services will talk to you throughout the entire process, you will essentially be part of the team because it is your business.
Choosing the right business plan writing service isn’t the easiest decision, but that is no excuse for making a bad one. Be sure to choose a writer that is dedicated and professional. Take the success rate for what it really is, don’t settle for cookie-cutter business plans, and make sure that you can stay involved during the writing process, if only as a source of information and idea refinement.
How to Write an Amazing Business Plan in 5 Easy Steps
Writing a business plan must be one of the most intimidating projects to complete. Companies and businesses spend hundreds and thousands of dollars hiring writers to complete the process for them. Outsourcing your business plan to a high quality business plan writing service can be a very efficient use of company funds. An experienced writer can produce an amazing plan without all the frustration and uncertainty you’re certain to face. The vision and specifics of a business can best be conveyed by a strong writer who’s got many business plans under his belt.
Business plans are pretty basic and are written for a couple of reasons. Usually you are either starting a new business, or you are an established business looking for funding. While the two types of businesses are very different, the business plan structure is the same.
Any business plan writer can follow these five easy steps to write a plan that’s much more likely to be successful.
- Get Organized
Getting organized is one of the most important steps to writing your business plan. You will need to be sure you have all documents pertaining to your business handy.
If you are a start-up you might need documents like budgets you may have written, projected costs and expenditures, or any type of graphics you have created for your business. Any type of planning you have done for your business you will need to have it ready and on hand.
If you are established you will want to have things like profit and loss statements for the last five years, marketing materials that have been used to effectively promote your business, your business logo, and any information regarding your plans for expansion or the project you are trying to fund.
- Get The Business Picture
The next thing you need to do is to get the business picture. Know what you are trying to accomplish. For a new business you will need to have your plan laid out. What will you do, how will you do it, and who will benefit from what you are trying to do.
For an established business you will need to have a clear idea of how your new project or expansion will increase the value of the product or service you re providing. Are you creating something new to attract new business? Does the new venture align with your company’s current direction? Be sure to know how your current and new clients will benefit from the funds you are requesting.
- Do Your Homework
Every time you start a new venture or expand you will have a bit of homework to do. Look at business plan samples for formatting ideas. Conduct your market analysis and check out the competition. Who is you biggest competition to see how will it affect your success? Is there a need for your new product? What problem does your product or service solve and how are you different from the rest? How does your expansion compare to others who have expanded in your industry and how is it similar? What are the successes of businesses similar and what are their failures? But more important how will you do things differently?
- Identify Your Company Structure
For new businesses you will need to consider what type of business structure you want to have. You will need to decide if you will own it entirely or will you have a partner. The best place to research this is through the Small Business Administration.
Established businesses will need to re-evaluate their current business structure and decide if it will still serve the company needs of if they should restructure. While this is not difficult to do, you should consult the Secretary of State webpage for the process of making a business structure change for your own state as the process will change state to state.
- Write The Plan
Writing the plan is simple if you know what you need to have in your plan and what mistakes you should avoid. Below are the sections you should include and how to make the best use of each section.
The executive summary should include This is a quick overview of your company. Here you will include your company mission and vision statement, a brief statement of your company and how it came to be, state the number of employees, and any future plans. If you are an established company, you will want to mention awards, growth of the company and special ways you contribute to your community.
Organization and Management
Here is where you get to brag about the expertise you and your fellow business partners bring to the table. Be sure to tell what your formal structure is and detail the experience of the decision makers of the company.
When you are requesting money, you need to be very specific about what you need and what the money will do. Being vague will throw up unwanted red flags and makes it appear as though you have not taken the time to know what you need. You can use detailed budgets in this section.
Brag, brag, brag. This is where you will outline your company product or service. Be sure to be descriptive. Outline your service and explain how you fulfill a current problem. Describe who will benefit from your product (your target market) and be specific. Most important explain how your business is unique and how that will contribute to your success.
Service or Product Line
Give a detailed description of your product or service. Be specific about the benefits you will bring to your clients. You will also want to describe the “life-cycle” and research and development planned for your product. Include copyrights or pending patents you may have in the works.
Give a good idea of what you expect your business or new product or service will bring in revenue. Start with a monthly projection, expand to yearly and then 5 years. Be realistic and make sure your projections match or are in alignment with your funding requests.
It is important to give a detailed description of your target market, their needs, and special characteristics of this group. Create an analysis of the market share, it’s strength and weaknesses, hoe much of the current market you will be able to obtained based on the need you fill and how unique that is to the market. Include any secondary competitors that may hinder your success.
Marketing and Sales
Be specific about how you intend to let your target market know that your product or device is available. Include and social media marketing, direct or indirect advertising, and creative ideas (Guerrilla Marketing) that you have planned.
This section is optional but good for certificates and pending certifications or patents you may have.
Finally, here are a few non-specific ideas for making your business plan stand out.
- Identify your niche.
- Strategize and be an expert in your field.
- Be clear about what you have to offer don’t over inflate your plans or ideas, be realistic.
- Be realistic about your financial needs and expectations.
- Make sure you have checked your plan for punctuation and typos.
- Format your plan in a simple and professional way.
- Don’t be vague and avoid being overly detailed.