The expense of a business plan varies greatly depending on which kind of plan you need. Some plans could be as straightforward as a executive summary and also a one-page financial worksheet, while some can be well more than 50 pages and contain many years of financial projections. Decide what type of business plan your company needs so as to help ascertain the cost of this strategy.

Hiring a Business Plan Writing Service
It’s possible to hire a business plan writing service to write your business plan. More complex plans can range into the high thousands, based upon the firm, the amount of staff members operating on the strategy along with the range of the plan. Costs typically start at $1,500 for more simple projects.

Hiring A Traditional Consulting Company
Using a traditional consulting company to write your business plan might make more sense when you are looking to raise a larger amount with your business plan. A lengthy plan with five years of financial projections might still cost a few thousand dollars, however, the total price can be much higher depending on the scope of work and the amount of consulting required. Some traditional consultants charge by the hour and let the customer decide how many hours client can budget for the work. For larger corporate jobs, expect to find costs ranging $25,000 to $50,000.

Our approach at GoBusinessPlans is to custom scope each engagement based on the the specific requirements of each client. Our business plan writing services typically cost between $2,000 and $10,000 depending on the work that needs to be completed.

Writing It Yourself
The least expensive way to acquire a business plan usually is to compose it yourself. Purchasing the software to speed up this procedure ranges from $50 to $500, and free resources on the Web can offer both templates and suggestions. The U.S. Small Business Administration offers guides, outlines and blogs, and the SBA’s Business Strategy Tool provides step-by-step assistance in building your plan. For companies with very low startup capital, this can be the ideal option.

Combining Services
Another option for businesses looking for a business plan option is potentially doing some of the initial leg work and then working with a business plan company to finalize the business plan.  A business plan can cost less if you do the research and make a draft on your own, and then introduce it to a company or consultant for review and completion. For instance, you could complete the written part of the company plan and have somebody else help with the financials. This is sometimes a good option for entrepreneurs that will articulate their business idea clearly but may need help putting together financial projections that are realistic. Review choices are offered for those who need an expert eye to check at their plan before proceeding.

About the Author
Managing Director , Go Business Plans
Ishan Jetley is the founder and managing director of Go Business Plans. Ishan has helped fund more than 400 businesses. He has helped businesses raise $150 million in business working capital, inventory and commercial property loans.