Do I really need a business plan?

We have found that when entrepreneurs dedicate their time to planning their business, not only do they save money by avoiding mistakes, they are also more likely to succeed. A good business plan requires the entrepreneur to address all the challenges he or she will face and visualize exactly how he or she will achieve his or her goal. Through this process, the entrepreneur will improve his or her understanding of the opportunity ahead and better prepare him or herself for success. This is why banks and investors almost always require the entrepreneur to develop a detailed and professional business plan.

Why can’t I write a business plan myself?

Even if you have an outstanding business background, it can take months to process relevant market research, model your financial projections and synthesize all your data to complete an impactful business plan. It’s much more effective for you to focus on developing your business while leveraging outside experts to write an efficient business plan and gain unbiased perspective into your business. By using The Plan Writers, we will identify new opportunities and challenges for which you can prepare. Finally, we subscribe to top dollar academic literature to which you would most likely not be privy. The research reports alone are usually worth more than the business plan you are paying for!

Who are the writers and what are everyone’s qualifications?

We spend a tremendous amount of time head-hunting quality writers that meet our standards and fit into our company culture. Any writer that is on our payroll will have an MBA and/or at least 5 years of professional work experience. This is to ensure you have the most knowledgeable business plan writing service for your business.

Have you worked in our industry?

There will most likely be someone on our team that has prior business experience in your industry. Chances are, we probably have already written a business plan similar to your business. Does this mean that we ever recycle material? No! We not only personalize every business plan, but you will also be able to leverage all the best practices and trends we’ve discovered. The bottom line is that we all come from diverse backgrounds and are passionate about working through different business models.

What’s the success rate with your business plans?

We often time get asked this question and have to set the proper expectations. As writers, we absorb, guide, and convey your vision to help guide your success. Ultimately, it is up to you to recognize if you have the resources, expertise, and determination to accomplish your goal. An investor or bank may not fund your business plan. However, we can promise you that it will never be rejected because of us.

Funding Resources

BUSINESS LOANS

You can secure financing with these 9 types of business loans.

Term Loans

Term Loans are a lump sum of cash that you repay over a fixed term through monthly principal and interest payments.

Benefits:

Lower interest rates
Potential for early loan repayment
Potentially slow funding timeline

Drawbacks:

Strict eligibility requirements
Rigid repayment schedule
Potentially slow funding time

SBA Loans

Small Business Administration (SBA) loans are enticing because they are a lower-cost government-backed option.

Benefits:

Broad eligibility requirements
Businesses typically not approved for traditional loans could qualify
Capped Interest Rates

Drawbacks:

Lengthy Application Process Borrowers typically must
Make a down payment Low-credit applicants
Generally not approved

Business Line of Credit

A business line of credit is a revolving credit limit that you generally access through a checking account. Similar to a credit card.

Benefits:

Only pay interest on what you use / great if you’re unsure on how much you need
Great tool to balance cash flow
Low risk way to build business credit

Drawbacks:

Extra fees
Not a good source of startup funding
Low borrowing limits

Equipment Loans

Equipment loans are designed to help you pay for expensive machinery, vehicles, and equipment.

Commercial Real
Estate Loans

Can help you finance new or existing property like an office, warehouse, or retail space.

Microloans

Small loans typically providing $50k or less offered through nonprofits and the SBA.

Merchant Cash Advances

The fastest way for existing businesses to obtain funding. Requires you to borrow against your future sales and repay with a portion of daily or weekly income.

Franchise Loans

For franchise businesses needing capital for upfront franchise fees.

Invoice Financing

With invoice financing, you can use unpaid invoices as collateral to get an advance on the amount you’re owed.

GRANTS

Grant funding can be a great source of startup capital if you qualify. Although grants don’t have to be repaid like a business loan, they are certainly not free as they can take a lot of work to get.

No Repayment

Grants are essentially “free money” that doesn't
require repayment making it virtually risk free.

Gain Credibility

Successfully receiving a grant can provide business coverage, visibility,
and credibility which can be even more valuable than the money itself.

Waterfall Effect

Once you’ve been awarded one grant, you are more
likely to receive others since other organizations will
see you as a reliable and credible candidate.

Strings Attached

Grants require you to be very specific about how you are using the money and
can sometimes come with restrictions and conditions that need to be met once
you receive it. Be wary about these types of contingencies.

Competitive

Despite investing a significant amount of time and effort into a grant
opportunity, receiving one is never a guarantee. Some grants receive
hundreds and even thousands of applications.

Time-Consuming

Grants require a significant time investment involving
lots of research and paperwork.

Major Grant Categories

Minority owned grants
Woman owned grants
Veteran owned grants
Government grants
Research grants
Non-Profit Grants

Grant Resources

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Investors

Raising funding from investors, also referred to as venture capital, is a form of private equity and is a type of financing that investors provide to startups and businesses that they believe have growth potential. In return for the capital, businesses provide investors a percentage of ownership in the business.

Types of investors include:

Venture
Capitalists (VCs)

A VC is a private equity investing firm that provides capital to companies with high growth potential in exchange for an equity stake. Funding amounts can vary greatly.

Angel
Investors

Angel investors are smaller, often individual investors who are interested in smaller amounts of seed funding. Typically providing under $500k.

Friends &
Family

Friends and family funding is a common source of startup capital typically providing smaller amounts per individual who are primarily interested in supporting your business.

ACCELERATOR/INCUBATOR
PROGRAMS

Accelerator programs are programs that give businesses access to mentorship, investors, funding, and other types of support. Typically accelerator programs focus on startups developing new innovative products, services, and technologies. There are hundreds of accelerator programs across the US ranging in size, focus, and offerings.

TOP US ACCELERATOR PROGRAMS

Y-Combinator

One of the most famous startup accelerator programs. Each company is given $120,000 in funding annually, with the startups accelerated by Y Combinator totaling over $100 billion in value.

High Growth Startups
Tech Startups
Seed-Stage

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Techstars

Members of this accelerator can expect access to capital, mentorship, and more. Techstars also hosts Startup Week and Startup Weekend, two impactful events for the startup community to accelerate their companies quickly.

High Growth Startups
Tech Startups
First time entrepreneurs

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500 Startups

500 Startups, the venture capital firm specializing in early and seed-stage companies of various industries.

Tech Startups
Early-Stage Startups
High-growth Startups

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Google Startup
Accelerator

Global program, each composed of 10 to 15 startups that work together to help each other accomplish their entrepreneurial goals. Additionally, this accelerator offers one-on-one mentors and a tailored experience for each company to ensure each startup’s individual needs are met.

High Growth Startups
Tech Startups
Seed-Stage

WEBSITE

FundingResources

BUSINESS LOANS

Benefits:

Drawbacks:

Benefits:

Drawbacks:

Benefits:

Drawbacks:

GRANTS

No Repayment

Gain Credibility

Waterfall Effect

Strings Attached

Competitive

Time-Consuming

Major Grant Categories

Grant Resources

Investors

Types of investors include:

VentureCapitalists (VCs)

AngelInvestors

Friends &Family

ACCELERATOR/INCUBATORPROGRAMS

TOP US ACCELERATOR PROGRAMS

WHAT TO EXPECT

Funding
Resources

Venture
Capitalists (VCs)

Angel
Investors

Friends &
Family

ACCELERATOR/INCUBATOR
PROGRAMS