THE COST OF WRITING A BUSINESS PLAN IN NIGERIA
Most people think writing a business plan is a waste of money. You need to know that for you to attract investors, you need to have a very good business plan. You can’t just put up anything and take it down to you your investors, thinking they will grant you the loan you are asking for. It is not done that way. There is a need for a good business plan for you to stand tall among competitors.
Considering the cost of writing a business plan, you might want to look for a cheap option for writing your business plan, but this could be dangerous because if you engage a wrong hand for your business plan, you might end up with a cost that is higher than what you are willing to pay.
Below are the factors to consider on the cost of writing business plans in Nigeria
- Objectives of the Business Plan: when you are considering writing a business plan, you need to have some objectives. Why do you want to write a business plan in the first place? The number of objectives may determine the cost of the business plan. If you have a higher number of objectives to achieve in your business, it will probably increase the cost of writing the plan.
- Level of Technicality: There are businesses that are so complex and writing a business plan for them could be a bit difficult. This is because every detail must be critically considered and the high level of technicality will birth an increase in the cost of writing the plan.
- The expertise of the Consultant: how vast in knowledge of business by your writers will determine the cost of the plan. This is because a writer who is versed in business knowledge will demand higher pay to write your business plan.
- Scope of your business: Some business has a wider scope; thus, the cost of the business plan will be higher since the writer will be covering so many areas.
TYPES OF BUSINESS PLAN
- Professionally written Vs Amateur business plans
There are business plans that are dishonestly packaged as the real deal. These are business plans written by people who pretend to be professional writers, but they are not.
A business plan should be specifically written and designed for your own business – this is the best. An already written business plan will be sold cheaper but are they really originally designed for your business? Even if it is in the same line of business, but the fact still remains that there are different environments, different factors, different locations, and different strategies, which are peculiar in each business’s case. Also, what works for Mr. A in the same line of business might not work for another person. So, your business plan should be specially and specifically designed and tailored for your business alone.
In Nigeria, those pretending to be professionals but are not can be identified easily through their lack of specialization. They are doing so many things and claim to be professional in all of them. Lastly, they lack originality; there is no way a professional business plan writer would write a business without being original.
Read Also: BUSINESS PLAN OUTLINE: A PRACTICAL EXAMPLE
DIFFERENT BUSINESS PLAN OPTIONS IN NIGERIA AND THEIR PRICE
There are business plan options and their respective range of costs. As a business owner, you must know what you want and this explanation will help you in that regard. The price or cost of a business plan is a function of many things depending on the kind of business you intend to write on. Below are some of the types of business plans that exist and their possible costs.
SAMPLE BUSINESS PLAN
You may need a sample business plan from a professional since it is a sample; it’s not expected to do anything. In most cases, a sample business plan is free and they are all over the internet. A sample business plan can be gotten online, and you can look for those and use them to develop a sketchy plan, just ensure you edit it thoroughly and paraphrase properly. Also, ensure you adapt it very well to the realities of your environment. Edit the plans to match with the needs of your business and the opportunities you seek.
COST OF A PRE-WRITTEN BUSINESS PLAN
In Nigeria, there are many business plans that have been pre-written and to be honest with you, these business plans are not the best for your business. The reason is that there are many people that could have bought the same business plan, and it’s possible for your investors or bank officials to have seen the business plan before and so, your chances of getting their attention with your business plan is slim. Also, an already written business plan does not put into consideration, the location of your business. This is because the person who wrote it just wrote a business plan in a general form for a particular business. Even if the business he wrote on is the same as yours, the market of your products/services or the location of your business was not part of the consideration when that business plan was being written. There is also a case of an outdated business plan. Imagine a business plan written for agricultural business in the year 2010, for sure, we know it is not applicable this year due to change in government policies regarding agriculture in the country. The cost of this pre-written business plan is usually between #5,0000 and #15,000 in Nigeria. It is advisable that the business owners understand this and decide correctly.
THE COST OF A CUSTOM WRITTEN BUSINESS PLAN
Custom-written business plans are the plans written by specialists and professionals. Although there is no specific measure for price for this type of business plan, as it solely depends on your writer and sometimes the kind of business plan you want to write. Some business writers have a flat rate, no matter the type business of business plan you may want to write. For example, small and medium enterprise consults may charge you as low as #25,000 for a business plan but there are others who don’t charge below #150,000.
Moreover, there are specialists that charge you nothing less than #500,000 or #6,00,000 for a business plan. These people are consultants to large organizations and do business at a high level.
In conclusion, for a small business owner who is just coming up, if your budget for a good business plan is a certain amount, you will most likely get someone who will be willing to help you for the same amount or an amount not too higher than budget. The most important thing is to ensure you get a professional and not a quack writer for your business plan.
If you need a service of a Professional Business plan writer, then Dayo Adetiloye Business Hub is the place to go Call or WhatsApp us now on 081 0563 6015, 080 7635 9735 or send an email to email@example.com and we will solve any of your business plan problems.
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Call or WhatsApp us now on 081 0563 6015, 080 7635 9735 or send an email to firstname.lastname@example.org and we will solve any of your business problems.