Business Consulting Business Plan: the Ultimate Guide for 2024

5 min readJun 21, 2023

Last Updated: 12/17/2023

As businesses navigate the ever-changing landscape of the 21st century, many entrepreneurs are turning to business consultants for help. Business consultants are able to offer expertise and advice that can help a business grow and succeed. But if you’re considering becoming a business consultant, you’ll need to create a business plan that will help you stand out and attract clients. A strong business plan will not only help you to develop your business goals and strategies, but it will also help you to monitor your progress and make necessary adjustments. In this article, we’ll provide you with the information you need to know to write a successful business consulting business plan in 2023.

Why is a Business Consulting Business Plan Important?

Writing a business plan for a business consulting business is vital to setting up a successful company. A business plan is not only a document that outlines operational and financial goals, but it also helps to attract investors and partners. Without a business plan, potential partners and investors have no way to assess if the business will be viable.

A good business consulting business plan clearly outlines services, fees, and target markets. It should also include analyses of competition and marketing, as well as financial plans with start-up costs and projected expenses. A business plan helps set the right prices and budgets, which are key to success. For these reasons, a well-thought-out business plan is essential before launching.

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How to write a Business Consulting Business Plan

Writing a business plan for consulting can be challenging, especially for new business owners. A good plan provides a roadmap for the future and helps to inform decisions along the way. Here are the key elements to include in a business consulting business plan:

Executive Summary

The executive summary introduces your plan and business. It should include:

- Mission statement

- Services

- Implementation

- Cost estimates

- Expected returns

Executive summaries are key for investors. Rather than reading the whole plan, they can review the summary.

Company Description

Introduce your company, including contact info and owner details. Discuss the owner’s experience, staff qualifications, market trends in consulting, business goals, legal structure, services, and how you’ll make money.

Market Analysis

Industry Analysis: Explain how your services differ from competitors’. Discuss your target clients and experience. Help investors understand the industry and your offerings.

Competition Analysis: Discuss competitors’ strengths and weaknesses and how you’ll differentiate yourself. Explain strategies to attract and retain clients.

Marketing Analysis: Discuss your marketing plan, including channels, budgets, lead generation, and ROI estimates. Investors want specifics on how you’ll market services.

Services Offered

Clearly outline your consulting services, tailored to clients. For example, you may offer business advice, market research, financial help, marketing, web design, etc. List services and how they provide value. Discuss marketing strategies to reach potential clients and set yourself apart from competitors.

Business Model

Most consulting firms charge by the hour, so specify your pricing model. You may also offer packaged or retainer options for ongoing services and steady income. Include all pricing models so investors can evaluate which will succeed.

Target Market

Your success depends on finding the right target market. Identify your ideal customer and their needs. Understand what makes them different from other potential clients.

For example, you may target small businesses, but what kind? What do they need help with? What challenges do they face? Tailor your plan to their needs.

Research competitors and the market. Understand the current market and how you’ll position yourself. Knowing competitors and their offers will help you craft an effective, differentiating strategy.

Competitive Analysis

Know your competitors. Explain who they are, their services, and pricing. Analyze their strengths, weaknesses, and how you compare. Discuss the market and trends influencing it. Identify opportunities and threats, and how your business will succeed.

List strategies to differentiate yourself. Help investors see how you’ll stand out and why your business merits investment.

Marketing Strategies

Consider strategies like digital marketing, content marketing, public relations, and events. Digital marketing uses SEO and ads to increase visibility and reach clients. Content marketing, like blogs, builds trust. Public relations gets media features. Events spread the word.

Discuss your strategies so investors understand how you’ll reach prospects and generate leads.

Financial Plan

Your financial plan is critical. Without clear and concise financials, your business risks lacking resources to achieve its vision.

Calculate expenses like rent, utilities, and staffing costs. Then estimate income from hourly rates or long-term contracts. Use industry averages if needed.

Include a cash flow analysis showing money in and out. Help investors understand when and how much will finance operations.

Analyze financial risks like economic changes or drops in demand for services. Anticipate threats and address how to manage them.

Risk Analysis

A risk analysis shows investors your business’s risks. Assess external risks like markets, geopolitical issues, and competition. And internal risks to your model, financials, services, etc.

Assess each risk’s impact, probability, and how you’ll mitigate it. Consider costs, losses, and impacts if risks materialize. Decide which risks are worth taking and how to structure and manage them.

Include your risk analysis. Help investors assess risks of investing in your business.

Implementation Plan

Your implementation plan outlines steps to successfully implement consulting services. Create a timeline with milestones like:

- Starting to recruit clients

- Beginning to train staff

Make a budget and list resources needed, including software, hardware, and consulting fees. Review with your team and adjust as needed.

Include your implementation plan so investors see you’ve thought through execution of services and have a plan to ensure success.