Business Plan Price Traps

It still amazes me that some 40% of those that respond to our advertisements ask for a price on their plan without offering any information about their business, not even the type of business.

* Skin in the Game - That means CASH invested, and the more someone has invested, (25-30% or more) in combination with historical operations/financial statements, the less detail and therefore time/costs involved in preparing a business plan is a general rule.

* Competition and Market Analysis - This is a big, make that huge item that almost never has enough detail and analysis in the 20-25 plans we receive each month. This is easy for a local restaurant in a small town but not so easy for new technology with worldwide sales.

* Web versus bricks and mortar - Web usually means more market analysis, let alone a national versus regional approach than bricks and mortar. In addition, a SEP analysis is important. Hence, more time means more cost.

* The Ask – If you're looking for $100,000-350,000, then 1-2 partners or SBAExpress are good options, and we can complete a plan to address both concurrently that is 18-20 pages in length. If you need a million plus for VC or many investors through a PPM, then 40-50 pages or much more is the rule.

I could go on and on, but there are four reasons that business plan prices vary। So, BE VERY CAREFUL with those that quote rates blindly, as the bait and switch or the trash can plan due to "one box fits all, one price fits all" approach is an almost certain result.

Free consult tim@thebusinessplanconsultants.com available!