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How Much Does a Business Plan Cost?

Updated: Sep 15, 2022

The cost of a business plan is relative to what you're looking for. Some plans are just one page with an Executive Summary written on it, while others can go into great depth with many pages.

There are some options like hiring a specialized company on business plans, working with a traditional consulting company, writing it yourself of a mixture of these.

Business Plan Writing Companies

You can hire a business plan writing service to write your business plan. Some complicated plans may reach up to high thousands, based upon the firm, the business model, revenue sources, complexity of the operations, number/type of business activities, locations, the amount of dedicated personnel working on the strategy along with the range of the plan. The cost of a business plan usually starts at $1,500 for simple plans.

Traditional Consulting Companies

Working with consulting companies may seem a good idea when you want to raise a significant amount of funds.

A complicated plan with a complex business model and operations, together with five years of financial projections may cost a few thousand dollars, however, the total price can be much higher depending on the scope of work and the amount of consulting required.

Traditional consulting companies usually charge by the hour and let the customer decide how many hours they can afford to spend on it. Larger corporate projects which have a large budget to allocate will reach up to costs from $25,000-$50,000.

In PeakPlans, we work closely with each client to come up with a customized plan that fits their needs. Our business planning services typically range from $2,000 to $10,000 depending on the scope.

Writing It Yourself

One of the cheapest ways to write a business plan is to create it yourself. There are free resources on the Internet such as templates and suggestions which can help with this process. The additional expense of buying software and templates, with costs ranging from $50 to $500, will depend on what type of program you need.

The U.S. Small Business Administration offers advice on how to start a business, including outlines of the steps you need for your plan & blogs that will get you up to date with current information in entrepreneurship. Entrepreneurs or companies who have a minimum budget for writing a business plan can choose this way.

Another option seems to be the mixture of these methods. It might be less costly for you to do the research and write up a draft on your own, then get it reviewed by a consultant.

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