Gail Said:

How much should I charge to research and write business plans?

We Answered:

That's good question. I imagine it all depends on how good you are and how much you value your time.

My business is writing business plans/projections and private placement memorandums for companies around the world (www.i4advisors.com). Realistically you need to consider a couple things: 1) not all business plan are the same; 2) you need to take a look the company, market, etc and determine how much research you will have do; 3) you need to consider how much input the company will have or is dropped in your lap; 4) how much is your time worth per hour...

Typically for a proper business plan of 35 to 45 pages with comprehensive projections will run a company $6,000 to $30,000 depending on how much research needs to be done, and how much input the company provides and what the company needs the business for.

To write a business plan for less that $2500 makes no sense. When you consider the amount of time involve, your paying yourself below minimum wage.

How this helps.

Byron Said:

where can i get free help with writing business plans and filling out grant applications?

We Answered:

For free help, you can get advice (but only advice and critiques, they will not write it for you) from SCORE http://www.score.org . You will have to hire someone and pay them to write your business plan and grant application

It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born.

Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.

Even if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business.

Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html…

"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."

Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program

Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs

For private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online. It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don't have listings of private foundations who give grants to would-be entrepreneurs.

Here are some resources that can help you write your business plan:

- SBA Business Plan Basics http://www.sba.gov/starting_business/pla…
- PowerHomeBiz.com Creating a Business Plan section http://www.powerhomebiz.com/startup/busi…
- Entrepreneur.com Writing a Business Plan section http://www.entrepreneur.com/bizplan/0,72…

You may also want to review some sample business plans to see how it actually looks like:

- Bplans.com http://www.bplans.com/sp/businessplans.c…
- MOOT Corp Business Plan competition winners
http://www.businessplans.org/businesspla…
- VFinance - View hundreds of real business plans in pdf format. http://www.vfinance.com/home.asp?bps=1&T…
- Business Owners Toolkit Sample business plans and information on how to create a plan. http://www.toolkit.cch.com/tools/buspln_…
- PlanWare Planning software and information. http://www.planware.org/
- Virtual Business Plan Walk through the design of a business plan. http://www.bizplanit.com/vplan.html
-SBA Business Planning Guide http://www.sba.gov/starting_business/pla…
- Small Business Advancement Center http://www.sbaer.uca.edu/business_plan/b…
- Sample Business Plan General planning guide created by the Canadian Business Service Center. http://www.cbsc.org/servlet/ContentServe…
- Business Plans Index - A subject guide to sample business plans and profiles for specific business types from Carnegie Library of Pittsburgh. http://216.183.184.20/subject/business/b…
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Some recommended books are :

- Business Plans Kit for Dummies
- The Complete Book of Business Plans : Simple Steps to Writing a Powerful Business Plan
- Writing Business Plans That Get Results : A Step-By-Step Guide
- Business Plans For Dummies®
- Your First Business Plan : A Simple Question and Answer Format Designed to Help You Write Your Own Plan

Hope that the above resources help

Andrew Said:

Where can I find Free Downloadable documents for writing Business Proposals and Plans?

We Answered:

The SCORE website has lots of free downloadable business plan templates.
http://www.score.org/template_gallery.ht…

Clara Said:

What is the best software for writing business plans?

We Answered:

I like Business Plan Pro because the software is easier to use and is not too rigid. Unlike some business planning software which often has lots of sections that is not relevant to your business - but cannot skip -- the flexibility of Bplan.com's software helps make the business plan writing process less painful.

The number of sample business plans is also a terrific advantage.

http://www.bplans.com/mk/bpp.cfm?utm_sou…

Stacy Said:

How do I find companies that need business plans and a start-up capital?

We Answered:

The business plan writing service is an exciting business that demands a combination of writing skill, business expertise, and creativity. Your task is to help new or existing businesses develop an overall blueprint that includes medium-term and long-term strategies, market positioning, financial requirements and start-up costs. This business is ideal for areas where many new businesses are starting and existing businesses are expanding.

However, not all new entrepreneurs prepare a business plan: many find the process too tedious or they lack the knowledge to make one. Your most probable clients will be those entrepreneurs who are seeking loans, attracting investors, looking for franchises, or businesses at the point of being acquired.
To start in this business, you need a strong business background, good knowledge of financial statements, good business writing style and the ability to see a business both from the perspective of the owner and the financial source. It would help if you have already put together business plans before so you know what questions to ask and what information to find. Study the various business plan software available in the market, but learn to adopt it to your client's particular situation.

Start-up costs for this business can be low particularly if you already have equipment like computer, fax, and Internet access. Your biggest cost may be professional liability insurance to help protect you when your recommendations for the future direction of the business turn south. Earnings, on the other hand, can range from $2,500 to $5,000 per project depending on the time it takes to write the plan (usually three to four weeks) and the amount of research you need to do. Your price can increase to as much as $25,000 per project, particularly for big corporations seeking new funding. You can also supplement your income through business editing and revising existing plans because of the change in your client's circumstance.

Like any new business, finding the first client is the hardest. Networking and referrals are the most effective ways of finding clients. Join chambers of commerce and economic development groups. Make contacts with bankers, venture capitalists, angel investors and organizations that offer business mentor programs or entrepreneurship centers. Hone your skills by preparing business plans free of charge at the beginning, in order to have a portfolio of plans you can show to prospective clients.

Recommended Books:

How to Write a Business Plan (5th Ed) by Mike P. McKeever
The Prentice Hall Encyclopedia of Model Business Plans by Wilbur Cross, Alice M. Richey
The Complete Book of Business Plans : Simple Steps to Writing a Powerful Business Plan (Small Business Sourcebooks) by Joseph A. Covello, Brian J. Hazelgren

Willard Said:

Regarding Business Plans - after writing one how can you?

We Answered:

Find a local SCORE or SBDC. They may be helpful in reviewing your plan or pointing you in the right direction. They are free and trustworthy.

http://www.score.org/
http://www.sba.gov/sbdc/

You've got nothing to lose by talking with them.
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Edited to Say:

I use to work at a well developed SBDC reviewing business plans and doing other business consulting activity. SBA loans rarely came up. We dealt with a lot more than that. For example, once or twice a year we had venture capital forums for people seeking investors. People came to us specifically to help with their B- plans before presenting them to the venture capitalist.

We were located at a major public university. Admittedly, most SBDCs are not as well developed as ours. We even had a business incubator that housed start-ups, including a venture capital firm.

So if you live close enough to drive to any MAJOR public university, you may want to contact their SBDC (usually associated with the Business School) to see if it has anything like what we had.

If you have already done that, then I'm fresh out of ideas. You just got to network and that is not all that fun. Most cities usually have business expos a couple times a years. Be on the lookout for them in the business section of the paper.

Good luck!
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