Top Business Plan Writers — Best Ranked Firms 2024
Last Updated: 8/18/2024
Are you planning on starting or expanding a company and need investment? Investors are likely to request a business plan.
As more companies work to get capital, the importance of having a quality business plan continues to rise from startups to mature companies, investors will want to be informed.
We’ve compiled a list of the top business plan writers based on a review of their quality, credentials, and expertise. (See Below for Complete Methodology)
Here are the Top 5 Business Plan Writers in 2024
1. Pro Business Plans
Located: Globally | Phone Number: (646) 866–7619
Pro Business Plans, founded in 2012, is a leader in the space of professional business plan writing. They have a team of expert writers, researchers, and financial analysts to put together professional plans for business funding and strategic planning. They are useful to those seeking a high end custom business plan or pitch deck for investors or business strategy.
Specialty: Business Plan Writing, Financial Modeling, Market Research
Ranking Assessment
- Pros: Diverse team working on a single project saves time from having to manage multiple people. They also have in-house tools to work more efficiently.
- Cons: They can be on the expensive side compared to working with a freelancer and typically work remotely.
- Average Score: 9.5/10
Reasoning: (Price: $1,550 + ) (Business Plan Quality: Investor Grade) (Market Research: They have their own tool to assist with market research that uses first-party sources) (Team Credentials: They have a specialized team that works with the latest tools to ensure consistency and quality.)
Customer Sentiment
Many reviews praise this business plan writer for its customized approach to business planning, suggesting its ability to understand the needs of each client citing the use of in-depth market analysis and research, insightful business plan writing process, process improvement, and quality design.
Many reviewers comment on the company’s level of professionalism, and detail oriented deliverables, some reviews also point out their expertise in financial modeling. However, other reviewers cite concerns around occasional delays in responses or feedback, some minor drafting errors, some expressed a desire for a broader range of services. Overall, the company is perceived strongly positive by customers. (Source: G2)
2. Growthink
Located in: Los Angeles | Tel: (800) 506–5728
With many years of experience, Growthink has worked with many companies and assists not only assisting with new business but also with business consulting in many aspects.
They are best for mid-size to enterprise companies seeking to raise substantial amounts of capital through sophisticated investors or with complex business planning needs.
Specialty: Business Plans, Business Consulting, Analytics, Investment Banking
Ranking Assessment
- Pros: They also provide many other services such as business analytics, banking, products, and other services geared towards helping business owners.
- Cons: The complex engagements may not be necessary for smaller business or startups when smaller and more efficient firms exist.
- Average Score: 8.5/10
Reasoning: (Price: Starts at $8,000) (Plan Quality: Enterprise) (Market Research: They claim to have access to both paid reports and proprietary methodologies) (Team Credentials: They claim to have a very diverse team of professionals in-house with a range of experience level comparable to a boutique investment bank.) (Source: Growthink)
Customer Sentiment (Sources: G2)
Many reviewers on G2 praised the Growthink professionalism and highlighted the extensive research supporting its deliverables, providing solid foundations as a diverse business plan writer.
However, some reviewers cited some criticism for insufficient market research, which was particularly cited for plans based overseas, and less than satisfactory customer service (although most negative comments were related to their templates not as a business plan writer). Despite these comments around their products specifically, there are many clients who found their tools effective for creating detailed a detailed business growth plan.
3. Master Plans
Located in: Portland | Tel: (503)226–4400
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.
Master Plans is best for early stage companies and small business owners seeking small bank loans, personal credit, immigration visas, or money from friends and family.
Specialty: Immigration Business Plans, Investor Business Plans, Franchise
Ranking Assessment
- Pros: Many reviews city the firm’s personalized engagement style and proprietary planning methodologies.
- Cons: The outcomes are pricy compared to what is received, especially compared to smaller and more focused agencies.
- Average Score: 8.5/10
Reasoning: (Price: Starts at $4,000) (Business Plan Quality: Bank Ready) (Market Research: They claim to have access to IBIS World research, a premium research provider, and their own patented methodologies) (Team Credentials: While their diverse in-house team seems to lack substantial experience in consulting or corporate finance, they are qualified to handle small business financial planning) (Source: Master Plans)
Customer Sentiment
Although the reviews on Master Plans were limited, causing us to explore other platforms, the reviews analyzed suggested the company is highly regarded for its ability to turn high level ideas into a solid business model and plan, in particular reviews cite the company’s ‘comprehensive data-gathering process’ that in the case of the reviews secured investor meetings.
Reviews cite the firm’s personalized engagement style, providing a detail oriented bespoke business plan to each client. However, some reviews did cite what seemed to be isolated cases of customer service concerns and complaints. (Sources: Clutch, Yelp)
5 Minute Break: Do you want to learn how investor business plans are structured? Review this slide show:
4. Cayenne Consulting
Located in: San Clemente
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. This is useful for small business owners seeking a more consulting and advisory driven business plan writer able to develop financial projections and act more as a strategic advisory for business research and expansion.
Specialty: Business Plan Preparation, Pitch Deck, Financial Forecasting, Franchises, Turnaround Consulting
Ranking Assessment
- Pros: Diverse senior management with a broad set of expertise locally and in subjects with their outsourced expert model.
- Cons: Most of the management consultants are freelancers and there is not a clear in-house advisory team.
- Average Score: 7.5/10
Reasoning: (Price: Starts at $6,000) (Business Plan Quality: Consulting Firm) (Market Research: They have a broad network of consultants who likely have knowledge of local markets or niche industries) (Team Credentials: Although their team is not in-house like many firms, they do have an impressive network of consultants nationally who can act as your company’s own business consultant or plan writer.) (Source: Cayanne Consulting)
Customer Sentiment
Cayenne also had limited reviews, with most of them on Google My Business, these did not factor into our analysis without a reviewer verification process. The firm’s reviews suggested mixed feedback, with many citing its focused approach as the best business plan writers and knowledge in creating customized plans.
However, some clients report a lack of satisfaction with some aspects of their customer service, particularly citing consistency in pricing, empathy, communication skills, and other aspects of their business practices. Despite these few negative reviews, the company overall has a solid reputation as professional business plan writers. (Sources: Yelp)
5. UpWork (Freelancer Platform)
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.
UpWork is best for early stage companies and small business owners seeking to hire a sole business plan writer and take a more active role or have knowledge about the expected product quality.
Ranking Assessment
- Pros: Wide range of freelancers with diverse experience and budgets from around the world.
- Cons: Finding a single business plan writer rather than a group of specialists able to deliver at the same qualtiy is limited.
- Average Score: 5/10
Reasoning: (Price: Varies) (Business Plan Quality: Varies) (Market Research: Each business plan writer likely has access to their own market research but typically they have their own methodology) (Team Credentials: This varies significant by each business plan writer with some occasionally having impressive corporate experience and others lacking basic qualifications.) (Source: UpWork)
Customer Sentiment
The customer sentiment analysis was done on Upwork as a whole since many business plan writers exist on their platform each with varying reviews. Reviews suggest mixed experiences with positive aspects such as ease of finding qualified contractors offering a diverse range of people with a variety of filtering options.
Although many were freelancers, some reviews cited concerns such as account suspensions, challenges with fund transfers, and poor customer service. The increasing costs of the platform were also cited among both freelancers and companies. While platforms such as UpWork can be useful for sourcing experienced business planning professionals, companies may encounter challenges related to management. (Sources: Trustpilot)
Ranking Methodology
We ranked each business plan writer using several key dimensions including: price, business plan format, business plan quality, reputation, market research, client feedback, and team credentials:
- Price: The average fee of the business plan writer on an hourly and project basis with lower end firms ranging from $50–60 per hour and the highest tier upwards of $200–300 per hour.
- Business Plan Quality: An analysis of sample business plans provided by the business plan writer reviewed on the basis the quality of writing, analysis, and financial projections. For this, we had a team member experienced in business analysis to review each sample provided.
- Market Research: Review of access to market research reports, research methodologies and other assets that facilitated the collection for reliable industry and competitor data.
- Team Credentials: The structure of team members and qualifications of the business plan writer, in the case of freelance services, this was determined on the average qualifications of the candidate pool.
- Customer Sentiment: While this is not a heavily weighted factor in the score for each business plan writer, we included a section called ‘strengths and weaknesses’ which uses AI to provide a summary of the sentiment of their reviews across G2, Trustpilot, Clutch, and other review platforms that require reviewer verification.
Bonus: Video Review
Commonly Asked Questions
What are the key components of a strong business plan?
The answer to this question depends on what the business plan is being used for. In some cases, a simple overview is sufficient, but in cases for more sophisticated and mature companies, it may be recommended to develop business plans that cover more detail. However, here is a general overview of the sections the typical business plan writer includes:
- Company Description: A high level analysis of your company including its history (if existing) and the problem and solution if provides (if a new startup business). This gives investors or prospective partners a quick snapshot touching on all major points in your business plan to quickly get them up to speed and provide context.
- Market Research: This covers the external market of your business plan including your competition, the growth and key trends in your industry, as well as your target customers. Together, this provides a grounded foundation in your business plan.
- Future Strategy: The future goals and how you intend to implement them is covered in sections of your business plan related to objectives, and your strategy for the next several quarters or year. Some business plan writers choose to provide substantial detail and granularity here while others are more high level.
- Financial Projections: The financial statements in a business plan are typically supported by a separate financial model and include the key financial statements including a Profit & Loss, Cash Flow Statement, and Balance Sheet. Typically, business plan writers include the next twelve-months (monthly or quarterly) and five years (annually) of financial projections.
How often should a business plan be updated?
Most business plan writers recommend updating your plan at least once a year if you are using it for the purposes of competitive analysis and strategy. The reason for this is it allows you to compare your prior performance to your expectations and compare the results. SCORE an organization that provides access to free consultants to assist with your business plan, also recommends this.
We also surveyed thirty small business owners in the United States to understand how frequently they updated their business plan. According to the findings, 30% updated their plan once per year and 10% updated it monthly.
What are the common mistakes to avoid in a business plan?
We interviewed several business plan writers to better understand the challenges they cited in their analysis, here are the most common cited during our investigation:
- Conducting poor research: It is advisable that companies conduct extensive an detailed market analysis when preparing their business plan and the sources having reliability is crucial. One business plan writer stated that “research is key to providing a solid foundation on which to frame your strategy.”
- Lack of detailed analysis: It is common that a business plan we may come across does not have a detailed understanding of the feasibility of their strategy and therefore is very limited in our ability to analyze it, said SBA loan underwriter Charlie Mangal.
- Limited financial projections: According to several consultants, the key to solid business planning is rooted in a detailed financial model. Typically expert business plan writers will include a custom built model with assumptions explaining their reasoning included with the model and typically get fairly granular. The SBA often wants to see detailed operating expenses in the financial plan so they know the borrower has a good understanding of their expenses.
- Too much emphasis on design: Many business plans are too focused on design and lack the same energy put into the business plan writing or financials. Many investors and lenders are more concerned about the quality of reach, reliability of the analysis, and analytical nature of the plan rather than the design alone.
- Too verbose: While some lenders may ask for a comprehensive business plan, many will be fine with only an executive summary and financial plan, says loan consultant Janice Polder. It is advisable that companies be concise yet make sure they cover all the major errors needed in the plan for their appropriate use case.
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 an 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 professional 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 to write a solid business plan, it depends on several factors such as the qualifications of the team, complexity of the whole business concept, 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 and previous clients but most agencies will get you a draft or partially completed plan 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 having an in depth understanding and 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 lean business planning 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.
- 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 next marketing strategy to plan ultimately inform your potential investors through your business plan.
- Drafting / Creation: The business plan 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.
- 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, the expert business plan writers can usually accommodate you with this.
What things should I look for when hiring a company?
When hiring a business plan writing service, 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.
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.
Previous Experience
Ideally, the business plan firm you hire will have experience writing business plans for your specific industry and similar situations (E.g. foreign expansion), this is a pretty important consideration.
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.
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This guide is part of a broader series on startup consulting and was based on the business plan consultant rankings from G2, a company that ranks service providers in the United States, and other ranking sites.
