How to Start Business Plan Writing Service Business in 2024
Last Updated: 12/17/2023
If you enjoy writing, researching, and helping entrepreneurs bring their ideas to reality, launching a business plan writing service in 2023 can be highly rewarding. With new business formations on the rise, demand for professional business planning services continues to grow. Your expertise can be invaluable in turning vague concepts into concrete, investor-ready plans.
Getting Started
First, research your local requirements for operating this type of consultancy. Determine if you need any special licensing or permits. Study your market to assess demand and potential niches, like specific industries or business types. Identify your ideal client profile — startups seeking investors, existing businesses wanting to expand, nonprofits, etc. Evaluate your own skills and knowledge. Consider taking courses to fill any gaps in business, finance or marketing.
Define Your Offerings and Pricing
Determine your service model — hourly consulting, flat project fees, or retainer packages. Factor in the effort involved for varying levels of detail and analysis. Offer tiered pricing scaled to client needs and budgets. Outline precise deliverables like financial models, appendixes, revisions, etc. Stand out by providing ongoing mentoring beyond just producing the document.
Need a Business Plan Writing Service Business Plan?
Create a custom business plan with financial projections and market research in minutes with ProAI’s business plan generator.
Build Your Brand and Market Your Services
Create a professional brand identity and website to establish credibility. Design brochures, cards and profiles to promote your services at networking events, small business functions and coworking spaces where your clients gather. Offer free tips, templates or workshops to attract interest. Partner with accelerators and incubators as a resource for their startups.
Refine Your Business Planning Process
Develop a refined end-to-end process from initial client needs analysis through delivery. Outline the plan, then collaborate with clients to develop the details. Focus on bringing their vision to life through compelling writing and impactful visuals. Set clear expectations for revisions and edits until satisfied.
Deliver Value and Build Relationships
The real value you provide is not just creating the document, but helping clients understand how to best use the plan to realize their goals. Offer strategic insights on executing the plan. Discuss funding options and potential pitfalls. Use the planning process as a way to establish relationships, then continue assisting clients with updating and optimizing their plan.
With proper preparation, services tailored to your market, and dedication to delivering for clients, you can build a meaningful business helping entrepreneurs turn ideas into strategic plans for success in 2023 and beyond.
Need a Business Plan Writing Service Business Plan?
Create a custom business plan with financial projections and market research in minutes with ProAI’s business plan generator.
Business Plan Writing Service Financial Forecasts
Startup Expenses
Monthly Operating Expenses
Revenue Forecast
FAQ
What should I include in the business plans I write?
A complete business plan should include an executive summary, company description, market analysis, competitive analysis, operations plan, management team, marketing plan, and financial projections. The level of detail can be customized based on each client’s needs.
What qualifications do I need to start this type of business?
Strong writing skills are essential. Educational background or experience in business, finance, marketing, or entrepreneurship is helpful. Take courses if needed to expand your business knowledge. Familiarize yourself with business planning best practices.
How much should I charge for my services?
Pricing varies based on the scope of each project, level of detail, and other customized components. Hourly consulting rates range from $50–150/hr. Packaged plans typically range from $500 for a basic plan to $5,000 or more for an in-depth plan with financial modeling. Offer tiered pricing.
How do I attract clients when starting out?
Use your network and cold outreach to connect with startup founders, small business owners, and nonprofit leaders. Offer free tips or discounted introductory plans. Host workshops on business planning. Network at local events for entrepreneurs. Partner with business accelerators or coworking spaces.
What software do I need?
Word processing software for writing. Spreadsheet software for financial projections. Design software for formatting, charts, and graphs. Project management software can be helpful for working with clients.
Should I specialize in certain industries or business types?
It can be beneficial when starting out to focus on a few niche areas where you have expertise. However, business planning best practices remain largely consistent across industries, so generalists are also common.
How can I ensure clients are satisfied with plans?
Maintain frequent communication to align on goals, details, and progress. Offer flexibility on revisions. Provide valuable insights in addition to writing the plan. Set clear expectations upfront about what deliverables are included. Follow up after plan completion to build long-term relationships.
