How Do I Start a Business Plan Writing Service?

While no formal education is necessary to start a business plan writing service, you will need to get some job-specific training if you want to be successful in the field. Exceptional writing skills are vital to being successful, and knowing how to write effective business plans is even more important. Potential customers will often decide whether or not to hire you based on your credentials, so you will need to obtain at least a high school diploma; a college degree looks even better to a potential customer, as does specific business experience.

A business plan writing service can be lucrative if you are willing to take the steps to do it right. First, take college courses to learn how to write effective business plans. If possible take business courses that will prepare you for your business plan writing service. It helps to work in various businesses to get a solid understanding of what goes into the running of a business. You must basically immerse yourself in the business world so you train yourself to become an expert in the field. Once you have the appropriate experience, you will probably need to write a business plan for yourself.

Like other businesses, your business plan writing service will need start-up funds. The amount of funds you need may be minimal if you plan on running the business from home and simply building a web page, but if you intend to have an office and do a fair amount of advertising — and it is likely that you will need to do this to build a client base — your budget will probably be larger. Look into securing business loans from banks or other sources to get your business plan writing service started in an appropriate timeframe.

Building your client base will probably be one of the biggest challenges facing your business plan writing service. Develop an advertising and marketing plan by researching potential customers, existing competition, and the rates of other businesses in the area. Find out ways to reach that target audience; consider radio ads, door hangers, mailers, and even drop-in visits to existing businesses as well as entrepreneur groups. Conferences for business owners as well as potential business owners are held regularly in bigger cities, so consider attending such conferences to expose your business to potential clients. Build a website and advertise online as well.