Are you about starting a business plan writing company? If YES, here is a complete sample business plan writer business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a business plan writing company. We also took it further by analyzing and drafting a sample business plan writing marketing plan template backed up by actionable guerrilla marketing ideas for business plan writers. So let’s proceed to the business planning section.
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
Why Start a Business Plan Writing Service?
It is becoming very important for entrepreneurs who want to launch their businesses to first write a business plan before going full-swing into the business. This goes to show that those who are in the business of writing business plans will continue to make money as it is a business that is open to writers who are trained to write professional business plans.
Starting a freelance business plan writing service is one good way of making money both online and offline, because your clients can be gotten from any part of the world. The bottom line is that you should be able to deliver top notch business plans when requested.
If you are planning on making a career from running a freelance business plan writing company, you’ll need to have a good sense of responsibility towards your clients or employers.
There are writing groups and freelance associations in many countries and it is a good idea to belong to them so that you can meet other aspiring and established business plan writers, get information, seek career advice, and establish your credentials as a professional business plan writer. A quick search using search engines and social media should find organizations in your local area or country.
Apart from your inborn writing skills, you would also need a workable business plan document to be able to run a standard freelance business plan writing company with a good number of professional freelance business plan writers under your payroll.
The sample freelance business plan writing company business plan template below will guide you towards writing yours.
A Sample Freelance Business Plan Writer Company Business Plan Template
1. Industry Overview
Freelance writing is a wide field with different niche ideas and freelance business plan writers are part of the freelance writing industry. According to the 2012 Freelance Industry Report compiled primarily about North America freelancing, nearly half of freelancers do writing work, with 18 percent of freelancers listing writing as a primary skill, 10 percent editing/copy-editing, and 10 percent as copy-writing. 20 percent of freelancers listed their primary skills as design.
Next on the list is translating (8 percent), web development (5.5 percent), and marketing (4 percent). Elance, a web platform that connects freelancers with contractors, surveyed its members and 39 percent listed writing and editing as their main skill set.
Depending on the industry, freelance work practices vary and have changed over time. In some industries such as consulting, freelancers may require clients to sign written contracts. While in journalism or writing, freelancers may work voluntarily without payment or do work “on spec” to build their reputations or a relationship with a publication. Some freelancers may provide written estimates of work and request deposits from clients.
Payment for freelance work also depends on industry, skills, and experience. Freelancers may charge by the day, hour, a piece rate, or on a per-project basis. Instead of a flat rate or fee, some freelancers have adopted a value-based pricing method based on the perceived value of the results to the client.
By custom, payment arrangements may be upfront, percentage upfront, or upon completion. For more complex projects, a payment schedule may be set based on milestones or outcomes. One of the drawbacks of freelancing is that there is no guaranteed payment, and the work can be highly precarious.
In writing and other artistic fields, “freelance” and its derivative terms are often reserved for workers who create works on their own initiative and then seek a publisher. They typically retain the copyright to their works and sell the rights to publishers in time-limited contracts. Traditionally, works would be submitted to publishers, where they would become part of the slush pile, and would either elicit an offer to buy (an “acceptance letter”) or a rejection slip.
The total number of freelance writers (those who are specialized in writing only business plans inclusive) in the united states is inexact and based on estimation, as the most recent governmental report on independent contractors was published in 2005 by the U.S. Department of Labor Bureau of Labor Statistics.
In 2013, the Freelancers Union estimated that 1 in 3 workers in the United States were self-employed (approx. 42 million), with more than four million (43%) of those self-employed workers members of the creative class, some strata of work specifically associated with freelance industries such as knowledge workers, technologists, professional writers, artists, entertainers, and media workers.
From all available statistics, it is safer to say the freelance writing business is growing steadily despite the competitive nature of the industry. One thing is certain, if you are well positioned, and have the required business skills, network and good testimonial from your clients, you may likely not have to struggle to compete favorably in the freelance writing services industry.
If you choose to start your own freelance business plan writing business in the United States of America or any country of the world, you are sure of breaking even within the shortest possible time possible because there are readily available markets both online and offline.
2. Executive Summary
Golden Pen® Freelancers, Inc. is a registered business plan freelance writing services company that will be located in Jefferson City – Missouri. We have been able to lease a small but standard office facility in a strategic business location in the heart of town.
Golden Pen® Freelancers, Inc. will basically write business plans for her clients no matter the location of their business or the type of business they intend running. We will also engage in developing contents as it relates to business (marketing materials, brochures and business reports et al).
We are set to service a wide range of clientele not just in the Jefferson City – Missouri, but also in all parts of the United States and the globe at large since we will have a very strong online presence.
We are aware that there are several large and individual freelancers in the online community who are also specialized in writing business plans, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.
Golden Pen® Freelancers, Inc. is a client-focused and result driven freelance business plan writing company that provides well – crafted and well – edited original write business plans at an affordable fee that won’t in any way put a hole in the pocket of our clients.
We will offer a complete range of business writing services to our local, state, national, and multi-national clients and we will ensure that we work hard to provide the contents needed by our clients to accomplish their goals and objectives.
At Golden Pen® Freelancers, Inc., our client’s best interest comes first, and everything we do is guided by our values and professional ethics. We will ensure that we hire gifted writers and editors who are well experienced in a wide variety of fields. We will at all times demonstrate our commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.
Golden Pen® Freelancers, Inc. is established by the Missouri awarding winning journalist – Dennis Vincent. He has B.A. in English Language, Advanced Diploma in Journalism and a Master’s Degree in Business Administration (MBA) from Yale Business School. He has robust experience in both print and online journalism having worked as business writer for over 5 years with some of the leading business magazines in the United States of America prior to starting his own business.
3. Our Products and Services
Golden Pen® Freelancers, Inc. is going to offer freelance business plan writing services and other business writing services within the scope of the freelance writing services industry in the United States of America. Our intention of starting our freelance business plan writing services is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim.
4. Our Mission and Vision Statement
- Our vision is to be amongst the top 3 freelance business plan writing companies in the world. Our vision reflects our values: integrity, service, excellence and teamwork.
- Our mission is to establish a corporate freelance business plan writing company that will help entrepreneurs and businesses write detailed business plan that can pass reality test when subjected to it; we will work with the facts, figures and other indices in the industry as it applies to the locations our clients intend starting their business.
Our Business Structure
Going by what is obtainable in the industry, we would have settled for two or three full – time staff, but as part of our plans to build a standard freelance business plan writing services in Jefferson City – Missouri, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent, creative, qualified, honest and hardworking employees to occupy all the available positions in our firm.
The whole idea of the kind of freelance business plan writing services business we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands in and around Jefferson City – Missouri as long as they are willing and ready to work with us to achieve our business goals and objectives.
Below is the business structure that we will build Golden Pen® Freelancers, Inc.;
- Chief Executive Officer/Lead Consultant
- Business Plan Writers
- Admin and HR Manager
- Business Developer (Marketing and Sales Executive)
- Customer Service Executive
5. Job Roles and Responsibilities
Chief Executive Office/Lead Consultant:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Freelance Business Plan Writers/Editors
- Responsible for writing detailed and workable business plans as requested by our clients
- Responsible for handling editing and proofreading services
- Responsible for writing other business documents such as marketing and publicity materials, business reporting, costing et al.
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Responsible for drawing up contracts and other legal documents for the company
- Design job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily office activities
Business Developer (Marketing and Sales Executive)
- Manages external research and coordinates all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models demographic information and analyzes the volumes of transactional data generated by customer purchases
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of business related development projects.
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding sales
- Helps to increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions
- Responsible for financial forecasting and risks analysis
- Performs cash management, general ledger accounting, and financial reporting for one or more properties
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Client Service Executive
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Distributes mails in the organization
- Handles any other duties as assigned by the line manager
6. SWOT Analysis
Golden Pen® Freelancers, Inc. engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a solid freelance business plan writing firm that can favorably compete in the highly competitive freelance services industry.
Part of what the business consultant did was to work with the management of our firm in conducting a SWOT analysis for Tapping Brain® Content Mills, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Golden Pen® Freelancers, Inc.;
Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in freelance business plan writing. Aside from the synergy that exists in our carefully selected workforce and our strong online presence, Golden Pen® Freelancers, Inc. is well positioned in a business district with the right demography and we know we will attract loads of corporate clients from the first day we open our doors for business.
As a new freelance business plan writing firm, it might take some time for our organization to break into the market; that is perhaps our major weakness.
No doubt, the opportunities in the freelance writing industry that freelance business plan writing is a part of is indeed massive considering the number of entrepreneurs starting their businesses and we are ready to take advantage of any opportunity that comes our way.
Some of the challenges that we are going to face as a new freelance business plan writing company is the fact that there are loads of free business plan templates online that our clients might want to use as against hiring our services. We are also going to face threats from other freelance business plan writing companies and freelance writing companies/freelancers that are also into writing business plans.
7. MARKET ANALYSIS
- Market Trends
The fact that most businesses will want to access loans or grants means that they will definitely equip themselves with a good business plan. The trend is that some of them usually make use of free business plan templates which they can readily get online.
The disadvantage of these free business plan templates is that they are not detailed enough to address specific businesses, hence the need to hire the services of experts who will take their time to come up with a good and workable business plan.
Another common trend in the freelance business plan writing services line of business is that most players in this industry do not just settle for clients within their immediate environment; they now have strong online presence hence they are able to work for clients in other parts of the world.
Lastly, it is now becoming trendy in the freelance writing services industry for operators to have their own platform where freelance writers and clients can interact and get or give out writing gigs.
8. Our Target Market
As a full service and standard freelance business plan writing services firm, Golden Pen® Freelancers, Inc. have a variety of practice areas as it relates to business related contents.
Our target market cuts across businesses and non-profit organizations both local and international. We are coming into the industry with a business concept that will enable us work with aspiring entrepreneurs no matter the type of business they intend starting. In other words, our target market is the whole of the United States of America and other parts of the world.
Our Competitive Advantage
The level of competition in the freelance writing industry depends largely on your niche area. If you can successfully create a unique niche for your freelance business plan writing services company, you are likely going to experience little or no competition.
The Golden Pen® Freelancers, Inc. might be a new entrant into the freelance writing industry in the United States of America, but we have a strong online presence that will help us work for clients all across the world.
Our competitive advantage also lies in the power of our team; our workforce. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in freelance business writing.
Aside from the synergy that exists in our carefully selected workforce and our strong online presence, Golden Pen® Freelancers, Inc. is well positioned in a business district with the right demography and we know we will attract loads of corporate clients from the first day we open our doors for business. These are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Golden Pen® Freelancers, Inc. is established with the aim of maximizing profits in the freelance writing services industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis. Golden Pen® Freelancers, Inc. will generate income by offering the following writing services to individuals and for organizations;
- Writing detailed and workable business plans as requested by our clients
- Editing and proofreading services
- Writing other business documents such as marketing and publicity materials, business reporting and costing et al.
10. Sales Forecast
The opportunities in the freelance writing industry are indeed massive and we are ready to take advantage of any opportunity that comes our way. This is so because freelance business plan writing line of business will continue to blossom.
We have been able to critically examine the freelance business plan writing services market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Jefferson City – Missouri.
- First Fiscal Year: $120,000
- Second Fiscal Year: $300,000
- Third Fiscal Year: $450,000
N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are mindful of the fact that there is stiff competition amongst freelance writing services companies in the United States of America; hence we have been able to hire some of the best business developers to handle our sales and marketing.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard freelance business plan writing services business that will leverage on word of mouth advertisement from satisfied clients.
Our goal is to grow our business to become one of the top 3 freelance business plan writing services in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in the U.S but in the world stage as well.
The Golden Pen® Freelancers, Inc. is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our business by sending introductory letters alongside our brochure to aspiring entrepreneurs and students of business schools
- Promptness in bidding for business plan writing or editing contracts
- Advertise our business in relevant business magazines, newspapers, TV and radio stations
- List our business on yellow pages ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver quality contents
- Leverage on the internet to promote our business
- Engage in direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
11. Publicity and Advertising Strategy
We have been able to work with our in – house consultants and other brand and publicity specialists to help us map out publicity and advertising strategies that will help us walk our way into the hearts of our target market. We are set to take the freelance writing services industry by storm which is why we have made provisions for effective publicity and advertisement of our organization.
Below are the platforms we intend to leverage on to promote and advertise Golden Pen® Freelancers, Inc.;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like Instagram, Facebook, twitter, et al to promote our services
- Ensure that all our staff members wear our customized clothes, and all our official cars are customized and well branded
12. Our Pricing Strategy
Usually, freelance writers charge their clients per word written or the volume of the editing jobs to be done. At Golden Pen® Freelancers, Inc. we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to startups, nonprofits, cooperatives, and small social enterprises.
- Payment Options
The payment policy adopted by Golden Pen® Freelancers, Inc. is all inclusive because we are quite aware that different customers prefer different payment options but at the same time, we will ensure that we abide by the financial rules and regulations of the United States of America.
Here are the payment options that Golden Pen® Freelancers, Inc. will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via Point of Sale Machine
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for services rendered without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
13. Startup Expenditure (Budget)
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting/leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.
On the average, starting a standard freelance business plan writing services company can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment. Basically, what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to equip the office, pay bills, promote the business and obtain the appropriate business license and certifications.
Basically, these are the area we are looking towards spending our startup capital on;
- The total fee for incorporating the Business in the United States of America – $750
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300
- The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400
- The amount needed to acquire a suitable Office facility in a business district 6 month (Re – Construction of the facility inclusive) – $40,000
- Marketing promotion expenses for the grand opening of Golden Pen® Freelancers, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580
- The total cost for hiring Business Consultant – $2,500
- The cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $2,000
- The cost of launching our official Website – $600
- Budget for paying at least two full – time employees for 3 months and utility bills – $30,000
- Additional expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
- Miscellaneous – $1,000
Going by the report from the research and feasibility studies, we will need about $150,000 to set up a medium scale but standard freelance business plan writing services company in the United States of America.
Generating Startup Capital for Golden Pen® Freelancers, Inc.
Golden Pen® Freelancers, Inc. is going to start as a private business that will be solely owned by Dennis Vincent and his immediate family members. The family will be the sole financier of the firm, but may likely welcome partners later which is why they have decided to restrict the sourcing of his startup capital to 3 major sources.
These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from the Bank
N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.
One of our major goals of starting Golden Pen® Freelancers, Inc. is to build a business that will survive off its own cash flow without the need of injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer nothing short of excellent business plans, related contents and services at highly affordable prices.
Golden Pen® Freelancers, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare is well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts in various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing a standard office facility (renovation of the office facility inclusive): Completed
- Conducting Feasibility Studies: Completed
- Generating part of the startup capital from the founder: Completed
- Applications for Loan from our Bankers: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphics Design and Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business: In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with key players in the industry: In Progress