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How much should I pay for a business plan?

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❶You can hire a consulting firm to write your business plan, but this is often the highest-cost option. Each plan is tailored to your unique situation.

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Hi - Wisteria is a professional business plan writing service. We have vast experience writing successful, high quality and tailored plans and would be happy to help you. Otherwise, as a business you are faced with two alternatives to outsourcing the work of the business plan. The first is to simply attempt to write a business plan and build a financial model yourself and Wisteria has provided many articles that may be used as a guidance to help you get started. The second is to purchase a piece of business plan software.

However such software is not normally effective since no two businesses are alike. As a result there will be aspect of the packaged business plan that the software will inevitably fail to cover. This is the reason why bespoke business plans tend to be much more effective and relevant in meeting intended outcomes. I hope that this helps you. James Copperwaite Member since: In my opinion you should never pay for a plan. Never trust that to a third party who will tell you what you want to hear.

Agree with much of the above - your business plan is fundamentally for you so most of what it contains will be your own thoughts and ideas. There is no point paying anyone for them.

Download one of the many templates available - most banks have one, or businesslink etc. Delete the categories which are irrelevant and start working the ones that are. Once you start, you will find it starts to flow. Remember to test your assumptions - my advice is to test to breaking point every plan has a breaking point and to bring it back from there. We would probably agree with most of the above. If you are capable of writing the business plan yourself then of course, this is always a good idea.

However a large proportion of our clients simply tend not to have the time or knowledge of where to start with their business plan. They want to absolutely ensure that they get the business plan right, first time. It seems Wisteria would always be a good second option? 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.

Decide what type of business plan your company needs in order to help determine the cost of the plan. You can hire a consulting firm to write your business plan, but this is often the highest-cost option.

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. More complex plans can range into the high thousands, depending on the firm, the number of team members working on the plan and the scope of the plan. Using a private consultant to write your business plan can be a cost-effective way to get a strong plan written by an industry expert.

A lengthy plan with three years to five years of financial projections may still cost several thousand dollars, but the total cost can be much less than hiring a firm because only one or two individuals are doing the work. Some private consultants charge by the hour and let the client decide how many hours to budget for the work.

However, fees for a business plan will still vary quite a bit. The cheapest way to get a business plan usually is to write it yourself.

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Your business plan will include 5 years of pro forma financials, custom created for your business model. 3 Review Once the plan is completely written and modeled, you’ll have ample time for a thorough review and to give us feedback.

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Q: I've managed to partially write a business plan, but I lack some crucial elements. Do I need a consultant? I would like someone who doesn't charge high fees. A: It's a very tricky call.

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Tim Berry, president of Palo Alto Software Inc., responds to a reader seeking advice on finding a low-cost writer to help with a business plan. Should You Bring In A Consultant To Help Develop Your Business Plan? It is far better to budget for the planning phase and only hire someone good when you can pay their fees, rather than hire someone who doesn’t know what they are doing and waste your money. On the other hand, if you are fully employed, or have significant funds, you may.

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