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This is a case where you need one executive chef, but too many cooks spoil the broth.A professional business plan consultant will generally charge between ,000 and ,000 for a complete business plan (although there are cases where ,000 is justified).Furthermore, any business plan consultant worth his or her salt will be able to provide some guidance in setting up your company, finding office or retail space, etc.
The key, however, is to hire someone who really adds value.
If you decide you need some professional help, then you need to consider a different set of questions.
Otherwise you’ll just end up with a very expensive paperweight.
If not, then you should definitely consider hiring someone to help you develop the concept, research the market and competition, construct realistic financial projections, and help you explore some of the risks involved.
If you decide to hire a professional business plan development consultant, what skills and qualifications should you look for? This sounds like a silly question, but it really isn’t.
Many entrepreneurs are unemployed or underemployed, and have lots of time but very little money.Often I find clients come to me claiming their plan is “simple”.Once we start digging into the details, we find things are a little more complicated than they thought.If you feel they are playing games or don’t listen, then walk away. If you withhold information from the consultant, don’t return phone calls, or play some other sort of game, then you are wasting your time and money.If the answer is “one” then you may not get the highest quality work. In my experience the best results come when you have one person driving the project, but 2-3 others (with different skill sets) also involved.First, and foremost, make sure they really are professionals.Look for the following: The most successful arrangement is “collaborative”.The low end applies for “simple” businesses such as a pizza shop, a small retail store, a hairdressing salon, etc.If your business plan involves new or complicated technology, unusual or multiple revenue streams, or requires significant investment capital, you should expect fees at the higher end of this scale.This is an excellent use of your hard-earned money and will always be a good investment as long as you choose a real professional who understands your business.Keep in mind that good consultants are in high demand and charge accordingly.