Create a Business Plan

 

1. Have a business plan created or create it yourself?

One of many questions that founders ask themselves is: Should I have my business plan drawn up or do it myself? And if I have it drawn up, how much does a professional business plan cost me?

When do I need a business plan?

You need a business plan for starting a business or taking over a company, among other things. For such projects, you usually need some capital obtained through loans.

 

The business plan consultant explains your project to your potential investors and shows them how you plan to make a profit with your business idea so that you can also repay the loan.

Therefore, creating a business plan can also be seen as one of the first steps in founding a company.

Why should I have my business plan drawn up?

The business plan is there to convince your financiers of your business idea. What's your idea? How would you like to implement this? And above all: is it all worth it?

A professional business plan is essential to ensure that your investors, e.g., B., your bank, get a good first impression of your project. However, if you are not a professional in this area, you should consider drawing up your business plan.

With a business plan consultant, you save time and have the advantage of many years of experience on your side.

Even if you are initially faced with costs, you should not shy away from them. Instead, see them more as an investment in your business. An investment on which the entire further project usually depends. Because without a loan from the bank, very few founders can afford to become self-employed.

A professionally drawn-up business plan increases your chances of getting a loan enormously.

Rely on the expertise of experienced business plan consultants. They will accompany you on your way to setting up a business and will be at your side with advice and action on the subject of business plans.

The management consultants will not only present you with the completed business plan. They will go through your business idea, work with you on suggestions for improvement or arguments, and give you helpful tips.

Don't try to avoid costs at all costs.

Your loan application will only be successful if you can present your investors with a convincing and error-free business plan.

Have your business plan drawn up by an experienced business plan consultant.

• What is the content of a business plan?

The content of the business plan consists of many different parts. The most important chapters are usually the following:

• Business idea
• Market analysis
• Financial plan

Each of these parts is, in turn, composed of several sub-chapters. For example, the market analysis includes, among other things, the analysis of the target group, the location, and the competitors. In addition, you will find the operating cost planning, the repayment plan, the profitability plan, and some other calculations in the financial plan.

The chapters seem manageable at first, but you can expect more than 20 different parts with all sub-chapters and plans. Although formulations and illustrations should be concise, here are a few pages of text and numbers.

The professional creation of a business plan is therefore advisable. The business plan experts know exactly what to look out for and how to pack your business idea properly for the investors. Above all, the right language is important here. This must be adapted to the investors.

Technical terms that are too specific must be treated with caution!

• How expensive is it to have a business plan drawn up?

Let's get straight to the point: You won't be able to have a professional business plan drawn up for free. In addition, you should not choose the cheapest offer across the board.

The cost of a business plan varies widely. Some templates are even available for free. However, fully developed business plans can also cost a five-digit amount depending on the scope.

Business plan templates

Templates often appear to be a good and cheap alternative to a professionally created business plan.

Because every business plan is as individual as the company that describes it, you risk over-detailing some chapters while grossly neglecting others when using cheap templates.

A business plan consultant knows the right answer to which chapters are particularly important for your project. Every business plan should be designed individually. Even if you decide on a template, you should think about how best to present your business idea with it.

Individual business plans

You do not have this problem with a business plan created individually for you. Here every part is tailored to your requirements. However, this personalization is, of course, also reflected in the price.

The cost of your business plan depends on various factors. We have summarized the most important points for determining the business plan price.

Company size

• It makes a difference if you just need a business plan to start a small business or if you are looking to restructure a multi-million dollar business.

• While in the former case, a few hundred euros can be enough to create the business plan, in the latter case, the prices can also be in the five-digit range. The price for your business plan must therefore be calculated individually.

Business idea

• But not only the size of the company and the type of business idea can change the costs. For instance, suppose you're opening a restaurant, similar concepts already exist and needless explanation.

• However, if it is an unprecedented product you want to market, your business plan must describe it in sufficient detail. The additional work involved here is also reflected in the business plan costs.

Investors

• It is also important to know who the business plan is prepared for. Do you have to convince your bank of the business idea, or is it aimed at internal investors? Depending on the addressee, the focus of your business plan will change.

•  The many years of expert knowledge of business plan consultants pay off here. You know the peculiarities of the various investors in detail and can tailor your business plan to them.

Business plan consultant

• Different types of service providers offer their services when creating business plans. For example, you can have your business plan written by tax consultants, lawyers, or auditors. The necessary know-how is available here, but the prices are usually very high, thanks to expensive law firms.
• We, therefore, recommend that you also look at the offers from business plan experts on the Internet. These consultants specialize entirely in creating business plans.

Additional services

• This refers to additional services offered by the consultant of your choice around creating a business plan. Young founders, in particular, can benefit from mentoring or coaching from experienced consultants, for example. If you do not have any expertise in marketing, a marketing consultant can be worthwhile.

• Which additional services are advantageous for you depends entirely on your level of knowledge. Therefore, we recommend being honest with yourself. Because half-knowledge can be dangerous when starting a business in that you submit an unprofessional or faulty business plan to a bank, and, as a result, your loan for starting a business is not approved.

It all depends on the right price-performance ratio.

The cost of creating your business plan should not be disproportionately high.

For example, The business plan for a small start-up must not cost a five-digit amount.

Furthermore, the prices should also drop if parts of the business plan are already available. For example, you may have already carried out or had carried out one or the other analysis. You can send these documents to your business plan consultant. This saves double work and thus time and money. Your documents will also be checked again.

If you use additional services, such as coaching, you must also consider higher costs. However, if you do not yet have any expertise in a certain area, these "small further training courses" are almost always worthwhile in the long run.

Find the right business plan consultant to create your business plan.

1. How do I find the right business plan consultant?

If you have a business plan drawn up, make sure you have a competent and professional advisor. It is crucial for a successful business plan to find a management consultant with the right know-how.

Your business plan consultant must be able to create a business plan that is complete, professional, and individual. Of course, the numbers in the financial plan must be correct, but the body text must also be of the highest quality and absolutely error-free.

Beware of dubious business plan providers

Again and again, the offers of imposters circulate on the World Wide Web. At first, it seems like you're getting a good bargain here. At the latest, however, as soon as the business plan has been drawn up and you present it to the bank, there is usually a rude awakening: whole chapters are missing, the financial planning is not worked out, etc.

In this case, you will not be granted your loan, but you will also have lost money to the scammers.

You should pay attention, especially if the prices for complete business plans are too low. Check exactly what the provider's procedure looks like because business plans are often created here that are largely based on ready-made plans and are not individualized. These plans are too general to convince investors of your idea in the long term.