The Cost of Hiring a Business Plan Writer in the United Kingdom
The business plan cost in the United Kingdom is slightly higher (15-30%) than in the United States and elsewhere due to the geographically more restrictive nature of sourcing a competent business plan writer for your project. While especially in London and other larger cities there are many options such as using a CPA, a dedicated business plan / startup consultant or even crowd-sourcing via peopleperhour.com or upwork.com it is usually best to look for a dedicated professional UK business plan writer who has a long-standing experience with writing business plans for typical business plan recipients of grant programs and startup lenders servicing the needs of founders in the United Kingdom.
Depending on who is the exact business plan recipient, quality matters tremendously and it is not often very transparent what will quality-wise be the output of any given business plan assignment. In the United Kingdom a business plan can cost therefore anything between £500 and £2,000-£3,000, sometimes even £4,000 British pounds depending on the size of the project and the complexity of requirements of the business plan recipient.
Factors Determining the Cost of a Business Plan Writer in the UK
Being one of the financial capitals of the world, London is also one of the most expensive cities to live and work at. If you are looking for a professional business plan writer in London, you will definitely pay a premium to cover London’s living costs. Going for an expensive business plan writer, it is all the more important that you analyze the track record of the business plan consultant, so that you can be sure that you are getting quality for your money. Generally the business plan writers will ask you for the following aspects of the project to determine the budget required to come up with the full business planning documentation:
– Are there any specific requirements for the business plan (some grant programs or business plans for academic purposes come with their own list of requirements, concerning the volume of pages of the written part as well as the projections horizon / figures breakup for the financial plan)
– What is the capital volume of the startup and from which sources does the capital come from?
– How many different business objectives must be included in the business plan? Are there different products or a mix of services and products or perhaps is there a special business perspective such as a franchising or patenting concept? All this influences the complexity of the market research required to make a plausible and convincing business case.
– What is the scope and scale of the project? If International markets have to be analyzed it is usually more work for the business plan analyst.
– How many founders are involved? Since every business plan needs to associate the founder background to the success story of the business idea, some business plan writers will charge extra for larger teams.
Of course the above aspects (which should by no means be regarded as representing the complete spectrum of relevant factors, there’s more) are just valid for determining the cost for a business plan creation within the United Kingdom but they are general questions needed for calculating budgets of business planning analysts. Usually, the kind of people that you are dealing with if you want to source the businessplan from a dedicated professional, are senior startup consultants which would earn anywhere between £80-£150,000 GBP per year and thus they charge a good budget to not only be able to afford their life in the United Kingdom, but also account for their opportunity cost incurred through foregoing the plenty of other income opportunities open to these versatile business experts in the business hub that is the UK.
Sourcing a Business Plan Writer in the UK vs. Hiring Worldwide
If we could give you one piece of truly good budgeting advice if you are looking for a business plan writer in the United Kingdom, it would be that you better stop looking for that elusive, exclusive UK business plan writer and rather start looking for a more international player with a solid track record in the writing of English business plans be it for UK start-ups, American start-ups or even international. In the international business plan writing field, the competition is broader and therefore it is much easier to find an affordable yet qualified business plan writer than if you exclusively look for someone in the UK.
Due to modern ways of communication it is much easier to exchange briefings and correspondence and even video conferences together with your business planning professional. Trying to find a pricey UK business plan writer to “hold hands” with is not always the best use of your budget as a startup. Perhaps there are business plan consultants which also have a good connection to business angels and banks and will therefore facilitate the funding process for you. But nothing stops you from sourcing business plan economically and then being able to negotiate better deals with local startup consultants.
The reason why this strategy is so successful is that business planning is hard brainwork that is not yet automatized by AI software or easily sources from cheap foreign labour (like graphic design, data entry or certain programming jobs). The business planning software on the market are basically just fancy entry forms but cannot spin credible startup success stories by themselves. To understand the actual red thread of success for a given startup and to align the results of market research with the background of the founders and also come up with solid financial planning, among other things, takes time and effort of a qualified business plan analyst. But if you are insisting on exclusively using a local writer to help you, you will definitely pay £100s of pounds extra.
Go ahead and research suitable business plan writers for your project and you will find that the more serious business plan consulting companies will rarely charge below £2,000 GBP for any given startup, even if it’s just a small kiosk or an ethnic cuisine restaurant. CPAs and Auditors, lawyers and general startup consultants are usually above that rate as they calculate their consultant day rates which are anywhere between £600 to £800 GBP. There is an added disadvantage that usually correction loops cost extra and you do not know what is going to be the final price for the business plan creation.
BrainHive: Global Business Plan Writers with German Roots and Headquarters in the UK
Our consulting house was founded in Frankfurt, Germany, by a bilingual business administration graduate with a deep-seated passion for startup planning. Since our formation over 10 years ago we have been able to offer one of the most effective business plan pricing system in this specific branch of startup consulting. After moving our headquarters to London, we internationalized our business plan pricing and adapted our way of work to the realities of the markets where our clients hail from.
The business plan cost in the UK is still at such a level that it is highly advantageous to find an intelligent strategy to connect the need for the actual business plan writing with the consulting and coaching need for ambitious startups. Why don’t you approach us and we shall explore your options? It will really help you to find the appropriate budget for your UK business plan.
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BrainHive- Professional business plan writing since 2008. Hundreds of business plans successfully written, published in domestic and international media as a distinguished consulting company, a first-class team of experienced consultants. Whether large, small, traditional or innovative projects: We support you competently and friendly in the preparation of business plans of all kinds.