Last Updated: 08/15/2024
Are you planning on starting or expanding a company and need investment? Investors are likely to request a business plan or pitch deck of some kind.
As more companies work to raise investment, the importance of having a quality business plan continues to rise from startups to mature companies, investors will want to be informed.
Whether you’re building a startup from the ground up and seeking your first investment round or have a mature company and need a business plan in place to garner new insights, having a professional to help conduct research and outline the model is imperative.
It is crucial to know the quality of the service provider as it will shape the quality of the work. There are many unqualified business plan writers in the market, but also one must consider the balance between price and quality.
Fortunately, we have prepared this review of the top business plan writers and service providers in the market to aid your search.
We’ve compiled a list of the top business plan writers based on a review of their quality, credentials, and expertise.
Here are the Top 5 Business Plan Writers in 2024
Located in: New York City | Tel: (646) 866–7619
Pitch: The best value with Pro Business Plans is that most of its team members come from Big 4 accounting firms or have prior experience working in venture capital or investment banks, so you end up getting top-notch talent without the price tag of a major corporation. They also have a lot of expertise and relationships that help business owners tremendously. Recently, they also introduced another service ‘ProAI’, which helps create strategies, and track their progress using their custom build AI large language model.
Specialty: Investor business plans, pitch (investor) decks, strategic planning, financial modeling, and market research
Review Case Studies: business-plans.com
Located in: Los Angeles | Tel: (800) 506–5728
Pitch: With many years of experience, Growthink has worked with many companies and assists not only assisting with your business plan but also with business consulting in many aspects. They also provide many other services such as business analytics, banking, products, and other services geared towards helping business owners.
Specialty: Business Plans, Business Consulting, Analytics, Products & Services
Review Case Studies: growthink.com
3. Master Plans
Located in: Portland | Tel: (503)226–4400
Pitch: Before Master Plans was acquired, it was a leader in the business plan writing service space. Post-acquisition customers are claiming it is not quite as focused, but still, a top-notch provider that is recommended for those particularly also seeking franchise support and related services.
Specialty: Immigration Business Plans, Investor Business Plans, Franchise, Legal Attorney Matching
Visit portfolio: masterplans.com
5 Minute Break: Do you want to learn how investor business plans are structured? Review this slide show:
Located in: San Clemente
Pitch: Cayenne has been around for a long time and is another solid provider of business plan writing and consulting services. They have a good senior management team that has a lot of case experience which can be helpful to startup and growth-stage companies of all kinds. They also can prepare additional investment-related materials such as private placements and more.
Specialty: Business Plan Preparation, Pitch Deck, Financial Forecasting, Franchises, Turnaround Consulting
Visit portfolio: caycon.com
Sometimes you cannot always afford a top agency to assist with the plan and would prefer to work with a freelancer. While we cannot recommend any specific freelancer, there are many websites, UpWork being the most recognized which feature many freelancers that can assist with the plan. This may be the best option for those that cannot afford agency fees. However, there are a variety of other freelance options available.
Check it out here: upwork.com
Commonly Asked Questions
Can I use AI to design my business plan?
A recent development in the space of business planning is using AI to assist in design. New tools are entering the market such as Adobe Firefly and Google Duet are just a few resources to help with design. While these tools have potential it can still help to work with a traditional designer to avoid coming across as too much as a template unless you are pitching for more basic things like a bank loan or smaller amount of money.
Should I use ChatGPT to write my business plan?
While using generative AI applications like ChatGPT or ai business plan generator software such as ProAI can save you some time and money one should exercise caution when relying too heavily on it. Primarily because these models often provide incorrect information to users and those without substantial expertise would not know how to detect this information. While these generative models do have a lot of potential, they are likely too early to fully replace a business plan writer at this time but may help to provide some guidance.
How much will it cost to hire a business plan writer?
There’s no fixed cost for a professional business plan, it depends on several factors such as the qualifications of the team, complexity of the business, stage, and type of capital you are raising. Generally, custom business plan writing services charge anywhere between $2,500 — 8,000 but plans can easily run upwards of $25,000.
Of course, there are always freelancers available to do it cheaper, but this can be risky and time-consuming, as there is usually not a project manager or structure in place that would be at an established firm or agency. Due to the current economic climate, many of these companies are also offering special discounts on an ad-hoc basis.
How long does it take to develop a business plan?
This really varies depending on the type of business plan being created but most agencies will get you a draft within 2–4 weeks, after which you would collaborate on that draft to completion with the average engagement wrapping up within 4- 8 weeks. Every project is unique, and it often depends on how engaged you are as an end client in providing feedback.
The typical business planning process
There is a structure that most business plan writers follow, we can’t say that every company’s method falls under this process, but it can help you to get a general idea of what to expect.
- Interview / Materials Gathering: During this period, you may have an in-person or Zoom meeting for the business plan writers to gather all pertinent information for your business including historical financials, understanding of your concept, business strategy, management bios, and more. The amount of information your business will have ranges depending on the stage and business size.
2. Research: At the research stage, the business plan consultant you hire will be involved with researching the industry, competitors, market sector financials, and more that is most closely aligned with your business and will help them not only outline your strengths in the market but also more effectively form the marketing plan and ultimately inform your potential investors through your business plan.
3. Drafting / Creation: The drafting and creation process takes anywhere between 5- 7 days and is the longest period of time spent actually preparing the business plan and making the financial model based on the information gathered so far. This may be the period in which the company is least responsive as it works to deliver the draft quickly.
4. Review / Modifications: Once the business plan draft is complete, the business plan writer will typically deliver a draft to you and/or your business for review. They will also answer any questions you have on it and take a grace period, usually ~ 30 days to make any changes that you require. If you are needing to expedite the plan most can usually accommodate you with this.
What things should I look for when hiring a company?
When hiring a business plan writing company, we usually recommend considering a few key points that will help you screen out who is best, we’ve listed them in order of importance.
1. Team Qualifications — You really want someone to write your professional business plan that has experience working for a big company doing exactly what you are hiring them to, so if you’re looking to raise money, make sure the team has worked an investment group or investment bank.
2. Previous Experience — Ideally, the business plan firm you hire will have experience writing business plans for your industry and similar situations (E.g. foreign expansion), this is a pretty important consideration.
3. Work Product — It’s always important to review their business plan samples and see what format or layout they follow. Is it outdated? Does it provide too much “fluff” and is poorly constructed? Does it contain grammatical or financial errors? These are things that ultimately need to be sifted out.
This guide was based on the business plan consultant rankings from Wimgo, a company that ranks service providers in the United States.