Starting a Business as a Business Plan Writer
Pretty much anyone and everyone who has thought about starting a business has heard
that they need to write a business plan. The problem is that most people do not know how
to write a business plan, and this creates an opportunity to start a home based business
as a business plan writer.
Most home based businesses and in fact most businesses are started without a formal
business plan, and while a business plan is not necessary for the business to succeed, a
well done business plan increases the likelihood of success. If a business owner decides
to grow his or her business, a formal business plan will be needed if they decide to seek
outside financing, attract investors or franchise their operation.
What a Business Plan Writer Does
A business plan writer is someone who listens to the client's ideas, reviews the
business's financial data and other relevant information and puts this information into a
formal business plan format. You can write the business plan yourself or with the help of
a business software.
What You Will Need to Get Started
As a business plan writer you will need to have a combination of writing skills and a
good sense of business (accounting, bookkeeping, marketing) and finance and to able to
work with your clients on gathering information on markets, sales potential and income projections.
o The experience of having written a few business plans
o The ability to see a business situation from the perspective of both the business owner(s)
and the party to which you will be presenting the business plan
o Good business writing, grammar and organizational skills
o The ability to sell yourself as professional and as an expert in the field
You will need a computer, business plan software, laser printer, fax machine, answering
machine or an answering service and a copier.
The Costs of Getting Started
The costs of getting of getting started can be as low as a few hundred dollars
depending on if you already the necessary office equipment and experience.
Fees can range from $2,00 to $5,000 for each business plan, depending on the amount of
work that is needed to obtain the necessary information (financial data, competition
analysis, sample marketing plans) and the time it takes to complete the business plan
(typically 2 to 4 weeks). Experienced and proven business plan writers can charge upwards
of $20,000 to $25,000 is he or she will be working for a large corporation seeking new financing.
Many business plan writers charge a flat such as $5,000 to work with a business until
they are satisfied.
Business plan writers can also get business editing and rewriting business plans that
have already developed by the business. The fees for this kind of work may be based on an
hourly rate for example of $50 or a flat fee such as $500.
A business plan writer can earn between $10,000 and $100,000 a year.