Business Plan Writing Services
BHVC is a business plan service that develops investor-grade comprehensive written business plans for the purpose of succinctly communicating business objectives to potential investors (both debt and equity). A typical business plan contains an executive summary, a detailed company description, a complete industry analysis, specifics on customers and competitors, a marketing plan, a design & development plan, an operating plan, a management team presentation, and a complete financial discussion.
One of the first questions we are often asked by potential clients is, “How much does it cost”, and while this is certainly a valid question, it is also one that is difficult to answer without a significant understanding of your business model and what it is that you’re trying to accomplish with your plan.
At Blue Horizon, we offer two different types of business plan services: the first is what we call a “Summary Level” business plan, which is typically a very succinct, yet very thorough high-level business plan that is generally sufficient for raising capital up to $250,000, including seed capital, friends & family financing, and SBA loans. This business plan service generally costs between $2000-$5000 depending on the level of complexity of your business model.
The second, more detailed business plan that we offer is what we call a “Venture Capital Quality” plan. This type of plan has significantly more detail in terms of market analysis, competitive intelligence, customer demographics, and overall thoroughness of the description and detail of the business model. This type of business plan service will enable you to attract capital from VC firms, Private Equity firms, and generally any other type of investor.
Our approach to building any business plan at Blue Horizon is to start with the financial model. This is the backbone of any good plan written for business. We’ll work with you to understand your revenue model to clearly define how you will make money. From there we’ll dive into your expense model – understanding the costs to start and ramp up your business, the costs to hire employees, and the ongoing costs of doing business. We’ll clearly articulate all of the assumptions that feed into your financial model; your assumptions page allows you to make changes to the factors that will cascade throughout your model. This will allow you to run various “what if” scenarios, which can provide you with valuable information.
Once the financial model is complete, we can dive into the detail of the business plan. This step involves research – researching the market in which you will be operating, researching the customers to whom you will sell your goods and/or services, and researching what your competitors are doing.
With all the research completed, our business plan service will then clearly showcase what products and services you will offer; we will detail those products and how you will deliver them. We’ll build your marketing strategy, and showcase your management team and advisors. When we are ready to wrap things up, our business plan experts verbally detail your financial plan, including your protected five year financials, how much capital you are seeking, what you will do with it, and ultimately, your intended exit strategy.
Regardless of whether you decide to proceed with a Summary Plan or a full Venture Capital Quality Plan, you should understand the amount of work that goes into a good business plan. For a Summary Plan, it typically requires anywhere from 30-60 hours of effort and for a VC Quality plan, generally 80-120 hours of professional effort is required.
While you could attempt to write a business plan yourself, if you are inexperienced in financial modeling, research, and many of the other disciplines required to build an effective plan for business, you may find yourself spending 3-5 times as much time as listed above to complete that same amount of work. This is time that could better be invested in the actual set up and operation of your company.
Additionally, you should be aware that a number of cut rate providers who claim to be “business plan writers” actually know very little about writing a business plan, and they will very often waste both your time and your money. A significant number of our clients come to us AFTER they have made the mistake of trying to work with these unscrupulous operators. These people will typically find an existing “boilerplate” plan somewhere, and they’ll change a few items to try to make it fit your business model. Ultimately, you get what you pay for with any business plan service.
Here is a list of “8 Questions to Ask BEFORE You Hire a Business Plan Consultant”
- How many years of experience do you have writing business plans?
- How much capital have your plans raised for clients?
- What is the success rate of your clients in raising capital?
- Do you do your own research and cite your sources?
- How many businesses have you started and were they successful?
- Once you write my plan, can you help me raise capital?
- What other services do you offer besides business plan writing?
- Can you give me references to two or three former clients?
If a business plan consultant can answer these questions to your satisfaction, you’ll know that you are dealing with a competent business plan professional.