How do I choose a business plan writing service?
How do I choose a business plan writing service? There are many people offering business plan writing services and it’s not easy choosing between them. Jonathan Hunt, Lead Consultant for The Business Plan Team (www.TheBusinessPlanTeam.co.uk) has some points to consider when selecting business plan writing services: 1) Commercial Experience - The ability to write well is not enough to make your plan investable – this is not simply a copywriting exercise. If you are going to secure funds you need to construct a business case that integrates all commercial aspects of your business. So, be sure that the people writing your plan have several years of senior commercial experience – the broader the better. This commercial experience should include budgeting or forecasting – your financials are a critical part of your plan. 2) Track Record – Many business plans are confidential so do not expect to see many examples. However, companies providing business plan writing services should be able to provide written and attributable testimonials from clients. 3) Pricing – Services range from around £2,000 for small start-ups upwards to £15,000 for larger corporate plans. As with most things, you get what you pay for and the price generally reflects the complexity of the business model. Make sure you ask for a specific proposal that outlines exactly what you are going to get for your money, the timescale and price. Consider “virtual services” rather than “face-to-face” consultants to reduce your costs but not the quality of work. 4) Ownership – one potential disadvantages of having a business plan written for you are that you will not “own” the business plan and be totally familiar with it. So, ensure that you are fully involved in the process and that there is time scheduled for you to review and discuss the financial forecast and written plan with whoever is writing the plan for you. 5) Funding – Have plans that they have created secured funding? Whilst funding depends on a wide variety of factors and not just the quality of the business plan (state of the market, availability of capital, product, service, proposition, management team etc.) any specialist service should be able to quote a few examples where their business plans have helped to secure funds. ENDS Editors notes: For further information or interviews call Jonathan Hunt on 01844 201518 or email him at jon.h@thebusinessplanteam.co.uk. The Business Plan Team was established to offer a flexible and affordable “virtual” alternative to “face to face” business plan writing services. By providing more affordable virtual services it aims to increase access for start-ups, small and medium businesses to help from people with senior commercial experience in the area of business plan development.
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