Revenue
Expenses
EBITDA
Net income
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BUSINESS STRATEGIES
When launching your consulting business, one of the essential first steps is crafting a well-structured and detailed business plan. Your consulting business plan is like a strategic playbook that lays out your goals, tactics and financial projections. It not only steers you toward success but also equips you to adapt and thrive in the dynamic world of consulting.
Keep reading for tips on how to build a strong business plan for your business. Use the template provided at the end to get started on your own plan.
Looking to kick off your consultancy business? Create a business website today with Wix.
A business plan forces entrepreneurs to thoroughly evaluate their business idea, target audience and competitive landscape. This process clarifies their vision and mission, ensuring that they have a clear understanding of how their consultancy will provide value to clients. A business plan helps you in the following ways:
Create a business blueprint : With a business plan in place, entrepreneurs looking to start a business can make informed decisions based on a solid foundation of research and analysis. They can choose the most effective strategies for marketing, pricing and service delivery, enhancing their chances of success. Your business plan can also be used to explain what type of business you'll start - whether that's an LLC, Corporation or something else. Learn more about how to start an LLC .
Secure funding : The cost to start a consultancy business can range from around $60 to several thousand dollars . For those seeking external funding, a well-developed business plan demonstrates credibility and professionalism. Investors and lenders are more likely to support a venture with a thought-out plan that showcases its potential for growth and profitability.
Set measurable goals : A business plan sets measurable goals and performance metrics, which is vital with this type of business . This allows entrepreneurs to track their progress, adapt strategies as needed and celebrate milestones along the way.
Want to remind yourself of the basics? Learn more about how to start a service business .
In this section, we'll break down the key components involved in crafting a successful consultant business plan in six steps.
Executive summary
Business and domain names
Market analysis and research
Operations plan
Marketing and advertising plan
Financial plan
An executive summary serves as a concise overview of the consultant's business plan, providing a snapshot of the key components and the business' essence. It's usually the first section investors, lenders and stakeholders read, so it must encapsulate the business' value proposition, objectives, strategies and projected growth. To write a clear executive summary for a consultant business make sure to keep it succinct yet informative. Clearly state the purpose of the business, the services offered, the target market and the unique value proposition. Avoid technical jargon that may confuse readers.
Then you can mention the business' strengths, such as the expertise of the consultants, unique methodologies or specialized services. Emphasize factors that set your consultancy apart from competitors.
Briefly discuss the market need for your services and how your consultancy plans to fulfill it. It’s worth noting that strategy and management consulting, as well as technology consulting, financial consulting and HR consulting are in high demand . Highlight any trends or changes in the industry that your business can capitalize on.
Remember to include a snapshot of your financial projections, indicating expected revenue, costs and profitability. This provides a glimpse into the business' potential financial success.
Example of an executive summary for a consultant business
"XYZ Consulting is a boutique consultancy firm specializing in digital transformation for small and medium-sized enterprises (SMEs). With a team of seasoned professionals, we offer tailored solutions to help businesses harness the power of technology for growth. Our unique approach blends strategic consulting with hands-on implementation, ensuring tangible results. In a rapidly evolving tech landscape, XYZ Consulting is poised to be the partner SMEs need to thrive. Our financial projections forecast a steady growth trajectory, with a focus on achieving profitability within the first two years. With a proven track record and a finger on the pulse of industry trends, XYZ Consulting is well-equipped to guide businesses toward digital success."
Knowing how to name a business is crucial for a consultancy venture and a key step before you register your business . It's the foundation of your brand and influences how clients perceive your services. With Wix , you can use a free business name generator or consulting company name generator as helpful tools for brainstorming unique and memorable names. Ensure the name reflects your expertise and the services you offer.
Similarly, the domain name for your business website is vital. It should be easy to remember, relevant to your services and ideally, match your company name. Check the domain's availability using domain registration platforms. Ensure the domain name aligns with your consultancy's focus and services. Generally, this means keeping it short and easy to spell and pronounce.
Learn more: How to make a consulting website
Incorporating a thorough market analysis within your consultant business plan is essential. Understand the competitive landscape, target audience and market trends. Research your competitors' strengths and weaknesses, pricing strategies and client base. This information will shape your business strategies and help you identify gaps in the market that your consultancy can fill.
The operations plan outlines the logistical aspects of your consultancy. It covers location, premises, equipment and staffing requirements. Determine whether your consultancy will be home-based, have a physical office or operate virtually. Define the equipment and software needed to deliver services effectively. Outline your staffing needs, including the roles and expertise required.
Your marketing and advertising plan outlines how you will promote your consultant business. Identify the most effective strategies to reach your target audience. Consider content marketing, social media campaigns, networking events and speaking engagements to showcase your expertise. Emphasize how your marketing efforts will build brand awareness and attract clients.
You’ll need to develop a suite of brand assets to use in your marketing as well, starting with a company logo. You can use a free logo maker to get a professional logo in minutes.
The financial plan is a critical component of any business plan. It outlines how you will raise money for your business initially and provides a timeline for reaching profitability. Detail your startup costs, including equipment, marketing expenses and personnel. Present your revenue projections, taking into account different pricing models and growth scenarios. Highlight your break-even point and the strategies you'll employ to achieve profitability.
By addressing each part of their plan, entrepreneurs can create a robust business plan that guides them toward achieving their business goals and building a reputable consulting brand.
These templates illustrate two hypothetical consultant business plans, each tailored to a specific niche. These are just templates and should be adapted to your specific business goals and industry dynamics.
XYZ Digital Consultants is a pioneering consultancy firm focused on digital transformation for businesses seeking to thrive in the digital age. Our team of experienced professionals offers strategic guidance and hands-on implementation to drive growth through technology adoption. With projected profitability within two years and a commitment to excellence, XYZ Digital Consultants is poised to lead businesses into a successful digital future.
Company and domain name
Company name: XYZ Digital Consultants
Domain name: xyzdigitalconsultants.com
Market opportunity: The rapid shift toward digital operations has created a substantial demand for expert guidance. Our analysis reveals a gap in the market for holistic digital transformation solutions tailored to the needs of SMEs.
Competitor research: We've identified key competitors and their strengths, which informs our strategy to emphasize personalized service and comprehensive implementation.
Location: Primarily virtual, with occasional in-person consultations as needed.
Premises: Home-based setup with access to modern communication tools.
Equipment: High-speed internet, latest software tools and virtual meeting platforms.
Staffing: Founder and lead consultant, supported by contract specialists as projects demand.
Content marketing: Regular blog posts on digital transformation trends, case studies and client success stories.
Social media campaigns: Active presence on LinkedIn and X to engage with potential clients and share valuable insights.
Networking events: Participation in industry webinars, seminars and local business events to showcase expertise.
Speaking engagements: Leveraging speaking opportunities at conferences and workshops to establish authority in the field.
Startup costs (equipment, website development, marketing materials): $15,000
Revenue projections (year one): $150,000
Revenue projections (year two) : $300,000
Break-even point: Achieved by the end of year one
Funding: Initial investment and savings from the founder
LeadersEdge Consultants is a dynamic consultancy dedicated to leadership development and organizational excellence. Our experienced team offers customized programs that empower leaders to drive positive change. With a projected growth trajectory and a commitment to fostering impactful leadership, LeadersEdge Consultants is poised to transform organizations and elevate their success.
Company name: LeadersEdge Consultants
Domain name: leadersedgeconsultants.com
Market opportunity: Our analysis reveals a growing need for leadership development programs in diverse industries.
Competitor research: We've identified competitors' offerings and recognized an opportunity to provide a unique blend of coaching, training and strategy implementation.
Location: Virtual consultations, with the option for on-site workshops
Premises: Virtual office setup with video conferencing capabilities
Equipment: High-quality audiovisual tools, assessment software and learning platforms
Staffing : Founder will serve as the lead consultant, supported by certified leadership coaches
Customized workshops: Designing tailored leadership development programs for individual organizations.
Webinars: Hosting webinars on leadership best practices to showcase expertise and engage potential clients.
Thought leadership content: Publishing whitepapers, eBooks and video content on leadership topics.
Collaborations: Partnering with HR and talent development professionals to expand reach.
Startup costs ( making a website , training materials) : $10,000
Revenue projections (year one): $120,000
Revenue projections (year two): $250,000
Break-even point: Achieved within the first six months
Funding: Initial investment from the founder.
The amount you charge as a consultant will depend on a number of factors, including:
Your experience and expertise
The type of consulting services you offer
The value you provide to your clients
The market rate for consulting services in your field
In general, consultants charge between $100 and $500 per hour. However, some experienced and highly specialized consultants can charge upwards of $1,000 per hour.
To determine your consulting rate, you can use the following formula:
Consulting rate = Hourly rate * Value multiplier
Your hourly rate should reflect your experience and expertise, as well as the type of consulting services you offer. For example, if you have 10 years of experience and you offer specialized consulting services, you can charge a higher hourly rate than a consultant with less experience and who offers more general consulting services.
Your value multiplier should reflect the value you provide to your clients. For example, if you can help your clients to achieve significant results, you can charge a higher value multiplier.
Here is an example of how to use the formula:
Consultant: Experienced consultant with 10 years of experience offering specialized consulting services
Hourly rate: $200 per hour
Value multiplier: 2
Consulting rate: $200 per hour * 2 = $400 per hour
Yes, a consulting business can be profitable. In fact, consulting is one of the most profitable industries in the world. According to a report by IBISWorld, the average profit margin for consulting businesses is 20%. This means that for every $100 in revenue, consulting businesses generate $20 in profit.
There are a number of factors that contribute to the profitability of consulting businesses. First, consultants are able to charge high fees for their services. Second, consulting businesses have relatively low overhead costs. Third, the demand for consulting services is high, and it's only expected to grow in the coming years.
Of course, not all consulting businesses are successful. Some consultants struggle to find clients or to charge high enough fees. Others may not be able to deliver the results that their clients expect. However, for consultants who are able to overcome these challenges, the potential rewards are great.
Here are some tips for increasing your chances of success as a consultant:
Specialize in a high-demand area of consulting. This will allow you to charge higher fees and attract more clients.
Build a strong reputation and network of clients. This will help you to generate word-of-mouth referrals and land new clients.
Market your services effectively. Make sure that potential clients know about your services and how you can help them.
Deliver high-quality results. This is the most important thing you can do to ensure that your clients are satisfied and that they continue to use your services in the future.
The cost to start a consulting business can vary depending on a number of factors, such as the type of consulting services you offer, the size of your business and your location. However, in general, you can expect to spend between $10,000 and $50,000 to start a consulting business.
Here is a breakdown of some of the typical start-up costs for a consulting business:
Business formation: $100 to $1,000
Website and domain name: $100 to $2,500
Marketing and advertising: $500 to $5,000
Office equipment and supplies: $500 to $5,000
Professional liability insurance: $500 to $1,000
Other miscellaneous expenses: $500 to $5,000
Total start-up costs: $10,000 to $50,000
You can reduce your start-up costs by working from home, using free or low-cost marketing tools and purchasing used equipment. You can also start your consulting business part-time while you continue to work your full-time job. This will give you a chance to generate revenue and build a client base before you leave your full-time job.
If you need financial assistance to start your consulting business, you may be able to qualify for a loan from a bank or credit union. You may also be able to find investors who are willing to invest in your business.
Here are some tips on which clients to avoid and which to take on in a consulting business:
Clients who aren't willing to pay your rates. If a client isn't willing to pay your rates, it's a sign that they don't value your services.
Clients who are unrealistic about their expectations. If a client has unrealistic expectations about what you can achieve, you're likely to set yourself up for failure.
Clients who are difficult to work with. If a client is demanding, rude or disrespectful, it's best to avoid them.
Clients who aren't a good fit for your business. If a client isn't in your target market or if their business isn't aligned with your values, it's best to decline working with them.
Clients who are willing to pay your rates. This shows that they value your services and are committed to working with you.
Clients who have realistic expectations. This makes it more likely that you will be able to meet their needs and exceed their expectations.
Clients who are easy to work with. This will make the consulting process more enjoyable and productive for both of you.
Clients who are a good fit for your business. This means that they're in your target market and that their business is aligned with your values.
In addition to the above, here are some other factors to consider when deciding which clients to take on:
Your own skills and experience. Make sure that you have the skills and experience to help the client achieve their goals.
The client's budget. Make sure that the client has a budget that's sufficient to cover your fees.
The client's timeline. Make sure that you have the time and resources to meet the client's timeline.
Your gut feeling. If you have a bad feeling about a client, it's best to trust your gut and decline working with them.
It's important to be selective about the clients you take on. By avoiding difficult clients and focusing on good-fit clients, you can set yourself up for success in your consulting business.
What qualifies you as a consultant.
To qualify as a consultant, you need to have the expertise and experience in the area that you're consulting in. You also need to be able to communicate your ideas effectively and build relationships with clients.
How to make 6 figures as a consultant, how do you pay yourself as a consultant, do consultants pay their own taxes, want to create another business plan.
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Consulting business names for your firm
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In starting a business, such as a consultant business, there are several things that you have to obtain and comply with to get started. A business plan is among them. Since you are here, it is safe to assume that you are looking for a business plan for your consulting business, or you want to create one. If that is the case, you are in the right place. In this article, we have gathered a set of consulting business plan templates and examples. Additionally, we have collated the things that you need to know in creating this type of document.
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Whether it is a startup company or big corporate, a business needs a roadmap that will direct a business towards its goals. To do it, a business owner has to obtain a business plan. A business plan is a type of document that contains an overview of the goals of a business and the methods involved to attain these goals, making this document the most crucial part of a consultant business development .
Just like creating a consultant contract agreement , if you are planning to develop a written consultant business plan, it would help if you know who your target audience is. For example, the reason you are creating a business plan is to support your business loan proposal that you are going to submit to a bank. You have to develop the document in a way that will appeal to the bank. To do it, you can include items such as target market analysis, business goals, expenses, marketing strategy, budget, business growth strategy, and sales forecasts. Including the mentioned contents can also help in attracting new clients.
Let’s take a look at how consultant business plans look like. Just download the following business plan examples and templates.
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Creating a consultant business plan can be tough, especially if you build it for the first time. That is why we have included the following tips in this article. Use these pointers to create a strategic business plan.
One of the mistakes that people do in professional writing , including writing a consultant business plan, is focusing on all the things in mind at once. This habit will make you end up confused with what to write. To avoid this situation, we recommend you to concentrate on the ideas that you have when writing your first draft. Checking the grammar and structuring the contents should come after you write everything in the paper. By doing it, you can efficiently structure the raw information that you have in mind.
You may have an idea in your head, but writing a wedding consultant business plan or any consultant business plan will need specific information to complete. Thus, you will have to gather the necessary information through research. Target market analysis and cost analysis are a few of the research methods that you may have to conduct.
Several consultants are assisting businesses in any field. In the cosmetics industry, they have beauty consultants. In the wedding industry, they have wedding coordinators. The question is, which area are you good at? Don’t just settle in that question. Ask yourself why your potential clients should choose you over your competitors? Know your strengths and use them as your marketing edge.
Just like an interior design business plan , you will need feedback from certain people to determine if your consultancy business plan is durable enough for implementation. By doing it, you may discover the flaws that you have not noticed before. To get the necessary feedback, you can start by talking to your friends, family, and people in the business.
Nobody wants to read a 12-page business plan, so if you want your potential client to take a look at your consulting business plan, write it in a way that will catch their interest. Do it by making a clear and on point plan. In this way, you can put all the necessary information in fewer pages. If you need to create a long explanation, you may want to set a meeting with the person or include a separate document for further clarification.
Creating a business plan is crucial in starting a consultant business. However, it does not mean that you will not need it anymore once you have established your business. In fact, you will rely on this plan to grow your business. Therefore, you must regularly check your business plan and make necessary improvements from time to time. It will ensure that your firm can overcome the obstacles that it encounters due to its affecting factors that are continually changing throughout the lifespan of your business.
One of the factors that influence the consultancy industry is the change in client demands. This trend is impacting the internal operations of consulting firms . According to Deltek’s survey, fifty-two percent of the leaders in the consulting industry believe that a few years from now, effective response to client demands will become the most prioritized business development in the industry.
As one of the essential items that you have to obtain in developing a consulting business, you have to create this type of document seriously. With the information that we have provided in this article, you should have an idea on how to make it happen. You may also check our article about the other item that you will need in developing your business, which is the consultant marketing plan .
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Written by Dave Lavinsky
Business Plan Outline
Start Your Consulting Firm Plan Here
If you need a business plan for your consulting business, you’ve come to the right place. Our consulting business plan template below has been used by countless entrepreneurs and business owners to create business plans to start or grow their consulting businesses.
Important note: If you are looking for a business plan consultant , specifically, a consultant to help you write your business plan, we recommend Growthink who offers a business plan consultation service here.
Below are links to each section of your consulting business plan template:
Next Section: Executive Summary >
What is a consulting business plan.
A consulting business plan is a plan to start and/or grow your consulting firm. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan, and details your financial projections.
You can easily complete your consulting firm business plan using our Consulting Firm Business Plan Template here .
There are many types of consulting firms. Most consultant companies are in business concentrations such as Management, Strategy, Operations, IT, Human Resources, Financial Advisory, and Marketing/Sales. There are also firms that are singularly focused such as those that offer business plan consulting.
The primary source of revenue for consulting firms are fees paid by the client. The client will either sign a contract or agreement of the services it will choose and the pricing for those services beforehand.
The key expenses for a consulting business are the cost of leasing the office, employee cost, marketing/advertising costs, and any office technology or software.
Consulting businesses are most likely to receive funding from banks. Typically you will find a local bank and present your consulting business plan to them. Angel investors and other types of capital-raising such as crowdfunding are other common funding sources.
Starting a consulting business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Consulting Business Plan - The first step in starting a business is to create a detailed consulting business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your consulting business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your consulting business is in compliance with local laws.
3. Register Your Consulting Business - Once you have chosen a legal structure, the next step is to register your consulting business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your consulting business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Consulting Equipment & Supplies - In order to start your consulting business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your consulting business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful consulting business:
You can download our free consulting business plan template PDF here . This is a sample consulting business plan template you can use in PDF format.
If you want to start a consulting business , then you need to write your consulting business plan.
I’ve watched countless starry-eyed entrepreneurs “start” their business with a 50-100 page business plan.
They spend weeks — or even months — toiling away at their desk after their 9-5 detailing everything about their future business.
After they’ve written it, they beam with pride.
“This plan is the key to my success in consulting! With this plan, I can’t fail.”
Then, they take their plan out to the real world.
The real world isn’t as perfect and pretty when starting your business.
And that golden business plan? Well, it almost always doesn’t work the way they’d hoped.
All of the projections they made? Naw, not even close.
So they scurry back to their desk to revise the plan — and the cycle continues.
Here’s the truth about consulting business plans…
You don’t need a long, complex business plan.
If your business plan is more than 5 pages, every extra page you write is almost certainly wasting your time.
All you need is a 1-3 page document to cover the foundations of your business.
By the end of this post, you’ll write your 5-part entrepreneurial consulting business plan — and have everything you need to start a successful consulting business.
Let’s begin with the first part: your consulting business model.
That’s the first question you want to answer for your consulting business plan.
Understand what type of business you want to build first before you start building it.
That way, you’re building a business to support your lifestyle and not the other way around.
At Consulting Success®, we believe that your business shouldn’t consume your life .
Your consulting business should enrich your life and create a fulfilling lifestyle for you and your family.
For your consulting business model, you have 4 options:
1. Solo Model : The classic independent consultant . Your business is just you (and maybe a few contractors). From delivering projects to marketing and sales, you are responsible for every part of the business.
(To see the pros and cons of each model, see our post on The 3 PROVEN Consulting Business Models .)
2. Firm Model : The typical large consulting firm. Your firm consists of consultants, associations, junior and senior people. Your role starts off as doing a bit of everything — but eventually, your role becomes hiring, training, and managing your team.
3. Productized Model : This model comes out of one of the above models. You identify a particular problem your clients have, and you build your business around solving that problem with a focus on efficiency. This model is all about systems, efficiency, and scale.
4. Hybrid Model : The hybrid model is a mix of the models above. For example, you might offer a productized consulting offer — but also do some solo custom consulting. Once you’ve mastered one of these models, the hybrid model helps you add new products and services to create more revenue.
Pick one of the models above. If you’re unsure about which one to use, start with the solo model. You can always change it in the future. Chances are, your business will evolve in the future anyways.
With your consulting business model selected, let’s move to the next part of your consulting business plan — clarity around your ideal client.
For every hour you spend on planning, you should spend 4 hours on putting your plan into action.
That’s the second question you’ll answer with your consulting business plan.
This is all about how you’re going to specialize .
As an entrepreneurial consultant, specialization is crucial.
You can’t offer everything to anybody.
You’ll have to begin by choosing a specific type of client to serve — your niche.
A niche is a certain subset of people whom you might potentially serve — SaaS companies, manufacturing, pharmaceuticals, etc.
To find your ideal client, you’ll have to test out different niches.
This is why we teach the Niche Scoring Method in our Clarity Coaching Program .
Using this scorecard, you score each potential niche from 1 to 5 based on the following factors:
In the Clarity Coaching Program for Consultants , we also teach you about the different layers of specialization, how to find and validate your ideal client’s potential, how to do outreach to potential clients, and more.
By going through these exercises, you’ll figure out which niche is best for you to start with.
Picking a niche and defining your ideal client is the foundation on which you’ll build your business — and get clients.
You shouldn’t move on with your consulting business plan until you’ve defined your ideal client.
Once you’ve done that, you can move on to the next part: Magnetic Messaging.
That’s the third question you’ll answer on your consulting business plan.
You’ve picked your business model.
You’ve defined your ideal client.
Now, you’ll write a message designed to get your ideal client’s attention.
We’ve created a formula to make writing this message as simple as possible: Magnetic Messaging.
Here’s the formula:
I help [WHO] to [solve WHAT problem] so they can [see WHAT results]. My [WHY choose me]…
Let’s break each part of the formula down.
Why does this message grab your ideal client’s attention?
When your message contains these 4 elements, it will draw interest from your ideal clients. They’ll want to learn more.
They’ll browse your marketing materials, read your articles, sign up for your email list, and reach out to you for conversations.
Effective messaging is the foundation of your marketing: what you communicate to the marketplace to get your ideal client’s attention.
You won’t write the perfect message on your first try.
But you do need to write a first draft — and actually put it to work in the marketplace.
Once you’ve written down your first magnetic message, it’s time to start planning your strategic offer.
That’s the 4th question you’ll answer on your consulting business plan.
With clarity around your ideal client and a message that grabs their attention…
…you must create an offer — a service — that solves their problems and gets them the result that they want.
The classic custom consulting service is the “full engagement.”
After you engage in a meaningful sales conversation with your prospective client, you’ll send them a consulting proposal .
In your proposal, instead of including one option, you’ll include three:
Map out the different options you’ll offer your prospects.
Take a look at the marketing consulting example below for an idea of how the 3 different options might look:
However, we recommend you start with a discovery offer .
A discovery offer is a smaller service (priced at $1.5K to $15K). You design it to get your client a quick, low-risk win.
Your discovery offer helps get your “foot in the door” with the client. Once you get them that quick, low-risk win, they’ll trust your expertise. This will open the door for larger projects with the same client.
Discovery offers are easier to sell, create, and deliver.
Here’s our discovery offer checklist:
Of course, you’ll also have to set your consulting fees .
You can use the hourly method, the fixed-rate method, the value-based method , or the retainer method.
Pricing is an incredibly complex and deep topic. But you’ll have to pick a price to start with and adjust it based on the feedback you get.
Never sell yourself short. Remember: pricing is marketing. If you can deliver your clients results, then charge what you’d feel good about.
Once you’ve mapped out your 3 engagement options and a discovery offer, you’re ready to take your offers to the marketplace — and start winning consulting business.
This is the final question you’ll answer on your consulting business plan.
And it’s where you start to see real results: winning clients, delivering projects, and earning revenue.
However, according to our How To Become A Consultant Study , marketing and sales are where consultants struggle the most.
Your Marketing Engine is what you’re doing every day to get in front of your ideal clients.
Your Sales Pipeline organizes all of the leads who come into contact with you.
Let’s start with your pipeline.
Your pipeline is organized into 6 columns:
All of your prospective clients fit into one of these 6 categories.
Using a CRM to create and organize this pipeline will help you organize your marketing and sales efforts.
Marketing is what fills up your “lead” column.
Without marketing, you won’t have any leads. And without leads, you won’t have the chance to win new business.
We organize marketing for consultants in 3 different categories:
A basic Marketing Engine will have you doing a mix of these different methods every day.
Every day, you want to be reaching out to new clients, following up with your leads, and creating content that demonstrates your expertise and adds value.
The type of marketing you focus on also depends on the stage of your business .
If you’re a newer consultant, you’ll rely more on outreach. You don’t have as much of an audience for authority content to work yet.
But if you’re a later-stage consultant, you’ll rely more on content. Your content and consulting website has a farther reach, and can generate leads at scale.
For your business plan, focus on setting up a pipeline that is easy to track, and creating the right marketing habits to fill up your leads column.
At this stage, your plan is done.
It’s time to start taking action.
By answering these 5 questions…
…you’ll write a consulting business plan that enables you to take action.
We’ve included dozens of articles, case studies , and guides on how to answer these 5 questions.
However, in consulting, execution is more important than your plan.
So, use our resources to help answer these 5 questions — and go build your consulting business.
Apply to join our Clarity Coaching Program , the place where dedicated consultants go to get a personalized plan, strategy, coaching and support to grow a successful consulting business.
If you’re committed and serious about growing your consulting business, then this customized coaching program is for you.
We’ll work hands on with you to develop a strategic plan and then dive deep and work through your ideal client clarity, strategic messaging, consulting offers, fees, and pricing, business model optimization, and help you to set up your marketing engine and lead generation system to consistently attract ideal clients.
Schedule a FREE growth session today to apply for our limited-capacity Clarity Coaching Program by clicking here .
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Starting your own business, or scaling up is intimidating. we’re here to break it down piece by piece so you can create your very own plan., in this free , you will learn:.
You’re in the right place if…
○ You have an idea for a consulting firm, and you’re ready to take the next step ○ You’ve started a business, and you need focus and direction
○ Your consulting company needs to bring in partners or funding
Starting a consulting business is no small task, so setting a clear action plan is essential. This comprehensive guide will give you a step-by-step breakdown of how to create a consulting business plan, why you need one, and how a business model canvas can help you along the way.
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If you want to work as a consultant, you'll need a plan. Here's how to create one just for you.
If you’re a self-employed consultant your work isn't like other forms of business. Unlike retailers or manufacturers, you're not making and/or selling tangible products. And unlike service companies, you're not employing a team of people to provide solutions.
Remember you’re not not just selling your time. As a consultant, you will be paid for the skills, knowledge and abilities you've developed over your career.
We have some useful background reading about the benefits of becoming a consultant or contractor , which will help explain how such businesses work. But having decided to become a consultant, what's the next step?
Like all new small businesses, you'll need a plan. That plan will have to cover funding, growth, pay rates, expenses, marketing, equipment costs, training and qualifications. It will also have to cover your goals, and the strategy you'll use to reach them.
Consulting business plans are a little different to other business plans. Here's what you need to know to get your consulting career off the ground.
This is an important question to ask yourself before you start. For most conventional businesses the answer will be "For the bank and investors." That's because small businesses usually need startup funding to get off the ground.
But consultants setting up their own business might not need much funding – if any. It's still important to have a business plan though – not only to clarify the details in your own mind, but also to help you understand the potential risks and rewards.
A good business plan will combine elements of both finance and strategy, but the contents will vary depending on the target audience. We'll take a look at the options next.
You may not need funding for capital equipment expenses or office rent. But you might need a loan to tide you over for the first few months, until you have a regular cash flow. The initial period for any new business can be a tough time – money worries will just make it tougher.
You may also decide that you want to make more of an impression by hiring office space, perhaps in a shared office environment. Or you might want funds to spend on marketing and advertising, particularly if you're offering consulting services in a competitive market.
For all of this, you'll need money. You could apply for a bank loan, look for grants, or try other forms of capital-raising such as crowdfunding. Whichever method you choose, any potential investors will want to see the important numbers. That means you'll need to cover the following points in your business plan:
Some of this information will be difficult for you to estimate. It might be even harder for you to present clearly. Use your accounting software to help with figures and to produce professional tables and charts. Then, an accountant can help you include the right information in your plan.
Of course, you might not need any funding. Perhaps you have enough savings to keep you going for a few months and clients already lined up. Or you may be starting your consulting career after an inheritance or unexpected windfall.
If money isn't an immediate concern, you can afford to be less formal when drafting your plan. That means making sensible predictions and setting goals for yourself, not just financial targets – though you should include those too.
This isn't an exercise in creative writing. The purpose of creating a plan is to help you concentrate on what you want to achieve. Some points to consider include:
Why are you doing this? It's important to answer honestly. If the answer is “to make more money” or “because I'm good at what I do” then write that down. Write down all the reasons you can think of, then read them back. Do they sound convincing? Make sure you know your true motivation, as it will help you focus on your goals.
Consulting can mean you have an irregular income. Sometimes you might be busy, other times less so. It makes sense to keep some money in savings accounts, especially if you'll be paying tax at the end of the year instead of while you're earning.
Think about the impact of consulting on your family or friends. Consultants often work irregular hours, sometimes from home, and they might be working at weekends. That can put a strain on relationships. Be realistic about this and set boundaries around when and where you will work.
You will already have an idea of the types of client you don't want to work for, because you know the industry you work in. For example, known late-payers can damage your cash flow so it's sensible to avoid them where possible. Look for clients who are reliable, as they’ll help make your business a success. Know that you can let go of clients who are more trouble than they're worth.
In many industries, especially IT, it's important to keep your skills up to date. But your clients are unlikely to pay for you to go on training courses – that's an expense you'll have to cover yourself. How will you stay up to date? Think about industry magazines, websites, forums, news feeds, conferences, courses, distance learning, peer groups and self-teaching strategies.
Perhaps you're planning to be a consultant for the rest of your working life. Maybe you want to do it for a couple of years and then move back in-house as an employee. Or you might want to start employing other consultants at some stage and build up an agency – maybe even sell it. It doesn't matter what your personal goals are, as long as you have some. Write them down and bear them in mind when making big decisions.
This is a good opportunity to think about how much money you want to make . Consider how much you will charge and what you will do with your commission. For example you may decide to use 50% to cover costs, pay yourself with 30% and put 20% back into your business.
Some of this information would be inappropriate to include in a financial business plan for banks or investors. But it can be very helpful in guiding you through the early part of your consulting career.
Business plans can be difficult documents to write. If you've never done it before, thinking clearly and logically about your business strategy may not be easy. Here are some tips to help you succeed:
1. Write the first draft
Don't worry about grammar, structure or neatness. Just get the thoughts out of your head and onto the paper or screen. Some people find this easier to do in an informal setting, such as a library or café.
2. Do your research
Understand the market you're going to be working in. Get to know all the details, as it'll help you write a more effective consulting business plan.
3. Identify your USP
That's your unique selling proposition. Why should companies hire you and not one of your competitors? Think carefully about what you're particularly good at, then use that as a basis for marketing yourself.
4. Get feedback
Talk to your peers, friends, previous business associates and potential customers. Show them your plan and listen to their feedback.
5. Keep it simple
Don't write dozens of pages. You'll bore the investors and your plan will end up on a pile where nobody will ever look at it again – including you. Stick to the important points.
A business plan isn't a static document. It should change and evolve over time as your business grows. You will learn a great deal in your first few months working as a consultant, and that knowledge should be applied to your business plan. It's a good idea to review your plan every month.
You may find that some of what you initially wrote turns out to have been misguided, inaccurate or just plain wrong. That's normal. Nobody can predict every step a business will take. The important thing is to learn as you go along – and make use of that knowledge to improve your plan.
A consulting business plan is written as much for you, the consultant, as for anyone else. The point of writing it is to concentrate on what's important. That clarity is what will help you succeed.
So don't look at a business plan as just another box to be ticked. It's a fundamental process when starting any business, particularly a consulting business where you will need initiative and drive to succeed.
Take the time to write a proper business plan, and keep it regularly updated as your business grows. You can use our free business plan template . You'll find it an invaluable guide to becoming a successful consultant.
Xero does not provide accounting, tax, business or legal advice. This guide has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the content provided.
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Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.
Introduction Business Solutions Consulting (BSC) is a start-up consulting firm focused on serving the comprehensive needs of businesses in the full range of the business cycle. With a core staff of experienced professionals and a team approach to most consulting projects, BSC will be able to offer a more balanced quality service than many of its competitors.
The Company Business Solutions Consulting is a team of six business consultants. Each consultant specializes in a particular discipline, including finance, sales and marketing, technology, management, operations, and human resources.
BSC offers a list of services for business owners to choose from, depending on their particular business needs. This includes; business and marketing plan preparation, financial search and procurement, IT consulting services, management development, human resources advising, and etc.
BSC will have a focus on start-up businesses, preferably in the earlier stages of operation. Small and mid-sized businesses make up a sizable majority of U.S. and international markets. BSC prefers to establish a relationship with a younger operation and continue to nurture that relationship over the long term.
BSC will be established as an Oregon based LLC with two principal partners, each of whom owns a 50% share in the company. Mr. Andrew B. Christiansen has extensive experience in business planning and finance, including CFO positions with ABC Conglomerate and DEF International. Mr. David E. Fields brings in experience in the area of marketing, advertising, and communications.
The Market The business consulting industry is very fragmented. Several large multinational companies dominate the industry while many smaller (and often more specialized) firms occupy their market niches. Major management consulting companies, such as McKinsey, Bain, and Boston Consulting Group, have established their dominant position by providing services to the leading companies in various industries. Consulting practices of the major accounting firms (a.k.a. the Big Five) have established worldwide presence and sell their packaged services to companies of different sizes and industries. At the same time, numerous firms and individual business consultants prosper in the market niches that bigger players consider unprofitable to enter.
Start-up companies are the target market of this firm. BSC intends to stay on the pulse of new business activity within the local area. Additionally, business contacts, referrals from among the group, and Internet marketing efforts will be made in pursuit of new clients. Start-up companies are attractive because owners often lack the broad range of knowledge and expertise required to launch a new business. There is a serious need in the marketplace, and certainly a significant demand for, these types of start-up consulting services.
Competitors in the forefront of the marketplace typically offer many of the services that BSC has. These services include information-based consulting, integration and management services. Services are designed to increase clients’ operations effectiveness through reduced cost, improved customer service, enhanced quality of current product lines and services, and a more rapid introduction of new products and services. Competitors also offer industry-specific expertise to objectively evaluate, select, develop, implement, and manage information systems, networks, and applications.
Consulting firms BSC is competing with include regional and specialty consulting firms, as well as the consulting groups of international accounting forms such as KPMG LLP, Ernst & Young LLP, Deloitte & Touche LLP, PricewaterhouseCoopers LLP, and Andersen Consulting. In its management and IT consulting services, BSC competes with information system vendors such as HBO & Company, Inc., Integrated Systems Solution Corporation, Electronic Data Systems Corporation, Perot Systems Corporation, SAIC, CAP Gemini America, Inc., and Computer Sciences Corporation. In e-commerce-related services, BSC competes with the traditional competitors, as well as newer, Internet product and service companies such as Razorfish, Scient, TriZetto, and Viant.
Financial BSC’s co-owners, Andrew B. Christiansen and David E. Fields, will each provide $50,000 that will cover the bulk of the start-up expenses. The rest of the required financing will come from the Small Business Administration (SBA) 10-year loan in the amount of $100,000. Combined, these funds will be sufficient to cover the company’s expenses throughout the first year of operations, which is the most critical from the cash flow standpoint.
BSC’s Break-even Analysis is based on the average of the first-year figures for total sales by salaries, bonuses costs, and all other operating expenses. Such analysis shows that BSC will break-even by the tenth month of operations.
Business Solutions Consulting aims to offer comprehensive consulting services. BSC will focus on providing personal and specialized services to meet each client’s specific needs.
BSC’s keys to success include:
Business Solutions Consulting is a startup firm, which will focus on providing a wide range of business consulting services to other startups and companies in early stages of their operations. Business Solutions Consulting is a team of six Business Consultants. Each consultant specializes in a particular discipline, including finance, sales and marketing, technology, management, operations, and human resources.
Business Solutions Consulting was registered as an Oregon LLC, equally owned by Andrew B. Christiansen and David E. Fields.
BSC’s co-owners, Andrew B. Christiansen and David E. Fields, will each provide $49,750 in investment that will cover the bulk of the start-up expenses. The rest of the required financing will come from the Small Business Administration (SBA) 10-year loan in the amount of $100,000. Combined, these funds will be sufficient to cover the company’s expenses throughout the first year of operations, which is the most critical from the cash flow standpoint.
The following chart and table contain projected initial start-up cost data.
Start-up | |
Requirements | |
Start-up Expenses | |
Legal | $2,500 |
Office Supplies | $2,000 |
Other | $1,000 |
Total Start-up Expenses | $5,500 |
Start-up Assets | |
Cash Required | $150,000 |
Other Current Assets | $20,000 |
Long-term Assets | $25,000 |
Total Assets | $195,000 |
Total Requirements | $200,500 |
Start-up Funding | |
Start-up Expenses to Fund | $5,500 |
Start-up Assets to Fund | $195,000 |
Total Funding Required | $200,500 |
Assets | |
Non-cash Assets from Start-up | $45,000 |
Cash Requirements from Start-up | $150,000 |
Additional Cash Raised | $0 |
Cash Balance on Starting Date | $150,000 |
Total Assets | $195,000 |
Liabilities and Capital | |
Liabilities | |
Current Borrowing | $0 |
Long-term Liabilities | $100,000 |
Accounts Payable (Outstanding Bills) | $1,000 |
Other Current Liabilities (interest-free) | $0 |
Total Liabilities | $101,000 |
Capital | |
Planned Investment | |
Investor 1 | $49,750 |
Investor 2 | $49,750 |
Additional Investment Requirement | $0 |
Total Planned Investment | $99,500 |
Loss at Start-up (Start-up Expenses) | ($5,500) |
Total Capital | $94,000 |
Total Capital and Liabilities | $195,000 |
Total Funding | $200,500 |
BSC offers a list of services for business owners to choose from, depending on their particular business needs.
Start-up services include business plan preparation, marketing plan preparation, and financing search and procurement. Ongoing services include business plan updates, marketing plan updates, search and procurement of additional rounds of financing, management development, IT consulting services, e-commerce consulting services, operational advising, and human resources advising.
BSC is flexible, working with its clients in the fashion preferred by the client, be it on-site, remotely, or a combination of both. BSC typically works on a project in a team fashion to assist the client in all areas of the business simultaneously. This allows for all parties involved to be in sync in terms of understanding the interconnections of all functional areas of the business.
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Start-Up Companies | 10% | 1,900,000 | 2,090,000 | 2,299,000 | 2,528,900 | 2,781,790 | 10.00% |
1-3 Year Old Companies | 8% | 900,000 | 972,000 | 1,049,760 | 1,133,741 | 1,224,440 | 8.00% |
3 + Year Old Companies | 6% | 400,000 | 424,000 | 449,440 | 476,406 | 504,990 | 6.00% |
Other | 0% | 0 | 0 | 0 | 0 | 0 | 0.00% |
Total | 8.96% | 3,200,000 | 3,486,000 | 3,798,200 | 4,139,047 | 4,511,220 | 8.96% |
Start-up companies often are in need of expert advice and planning in initiating a successful start-up. It is believed that a majority of start-ups actually seek out consulting assistance. Those that do typically are searching for a comprehensive area of services.
1-3 Year Old Companies
Young companies, between 1 and 3 years old are less likely to be searching for expert business consulting services. Typically, they have already secured financing and have developed a satisfactory level of security. However, these businesses are still in the beginnings of their overall cycle and in most cases need the broad expertise of a team of expert consultants.
3 + Year-Old Companies
Established companies make up the final segment, and is significantly smaller than the start-up segment. The established company segment typically has a need for a less comprehensive range of services. These entities are in need of specialized services in one or two disciplines, e.g., operational planning or human resources.
Start-up companies are the target market of this firm. BSC intends to stay on the pulse of new business activity within the local area. Additionally, business contacts, referrals from among the group, and Internet marketing efforts will be made in pursuit of new clients.
Start-up company owners often lack the broad range of knowledge and expertise required to launch a new business. There is a serious need in the marketplace, and certainly a significant demand for, these types of start-up consulting services.
The business consulting industry is very fragmented. Several large multi-national companies dominate the industry while many smaller (and often more specialized) firms occupy their market niches. Major management consulting companies, such as McKinsey, Bain, and Boston Consulting Group, have established their dominant position by providing services to the leading companies in various industries. Consulting practices of the major accounting firms (a.k.a. the Big Five) have established worldwide presence and sell their packaged services to companies of different sizes and industries. At the same time, numerous firms and individual business consultants prosper in the market niches that bigger players consider unprofitable to enter.
Competitors in the forefront of the marketplace typically offer information-based consulting, integration and management services. Services are designed to increase clients’ operations effectiveness through reduced cost, improved customer service, enhanced quality of current product lines and services, and a more rapid introduction of new products and services. Competitors also offer industry-specific expertise to objectively evaluate, select, develop, implement, and manage information systems, networks, and applications.
Consulting services are becoming more focused on technology-based solutions to help clients improve cost management, quality, service, and research and development to obtain differentiation and competitive advantage. E-strategy services are being provided to business and IT executives with education, insights, and strategies to utilize the power of the Internet to improve their performance. E-strategy services include executive visioning, business strategy, planning for e-business initiatives, user design, and intellectual capital formation. IT strategy consulting services are focusing on the use of IT to support business goals, and to leverage the power of the Internet to transform the way products and services are distributed and retailed.
Strategic planning consulting services typically consist of strategic alignment (which includes IT strategic planning and governance, alignment of IT and process, and future focus and regulatory requirements), IT department operational excellence (which includes fiscal responsibility, infrastructure, IT department processes, data center operations, and IT human resources management), and IT value realization (which consists of performance measurement, business integration (people, process and technology), change management and application investment). Performance improvement services consist of process redesigning to reducing administrative costs, improving financial performance, engaging and retaining customers, and improving accountability and reporting.
Other commonly found services among competitors include long-term IT management expertise, as well as a wide range of management services including assessment/due diligence, program management, discrete outsourcing, and full IT outsourcing services.
BSC intends to succeed by offering companies a comprehensive range of multi-cycle business planning solutions.
BSC intends to succeed by offering companies a comprehensive range of multi-cycle business planning solutions. The company will strive to optimize its billing hours. The following table outlines the sales forecast for the next three years.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Unit Sales | |||
Business Plans | 191 | 397 | 763 |
Start-Up Consulting | 175 | 364 | 699 |
Annual Reviews | 223 | 464 | 890 |
Other Ongoing Business Consulting | 223 | 464 | 890 |
Total Unit Sales | 812 | 1,688 | 3,242 |
Unit Prices | Year 1 | Year 2 | Year 3 |
Business Plans | $1,500.00 | $1,500.00 | $1,500.00 |
Start-Up Consulting | $1,500.00 | $1,500.00 | $1,500.00 |
Annual Reviews | $1,000.00 | $1,000.00 | $1,000.00 |
Other Ongoing Business Consulting | $1,500.00 | $1,500.00 | $1,500.00 |
Sales | |||
Business Plans | $286,508 | $595,937 | $1,144,199 |
Start-Up Consulting | $262,633 | $546,276 | $1,048,850 |
Annual Reviews | $222,840 | $463,507 | $889,933 |
Other Ongoing Business Consulting | $334,260 | $695,260 | $1,334,899 |
Total Sales | $1,106,240 | $2,300,980 | $4,417,881 |
Direct Unit Costs | Year 1 | Year 2 | Year 3 |
Business Plans | $0.00 | $0.00 | $0.00 |
Start-Up Consulting | $0.00 | $0.00 | $0.00 |
Annual Reviews | $0.00 | $0.00 | $0.00 |
Other Ongoing Business Consulting | $0.00 | $0.00 | $0.00 |
Direct Cost of Sales | |||
Business Plans | $0 | $0 | $0 |
Start-Up Consulting | $0 | $0 | $0 |
Annual Reviews | $0 | $0 | $0 |
Other Ongoing Business Consulting | $0 | $0 | $0 |
Subtotal Direct Cost of Sales | $0 | $0 | $0 |
Our competitive edge is the team approach of consultants who are each focused in one or two business disciplines.
Andrew B. Christiansen has extensive experience in business planning and finance, including CFO positions with ABC Conglomerate and DEF International. David E. Fields brings in experience in the area of marketing, advertising, and communications.
The following table illustrates the personnel plan for the next three years. No major changes in headcount are planned.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Owner / Consultants | $600,000 | $660,000 | $726,000 |
Other | $0 | $0 | $0 |
Total People | 6 | 7 | 8 |
Total Payroll | $600,000 | $660,000 | $726,000 |
BSC expects to raise $100,000 as its own capital, and to borrow $100,000 guaranteed by the SBA as a 10-year loan. This provides the bulk of the current financing required.
BSC’s Break-even Analysis is based on the average of the first-year figures for total sales by salaries, bonuses costs, and all other operating expenses. These are presented as per-unit revenue, per-unit cost, and fixed costs. These conservative assumptions make for a more accurate estimate of real risk. Such analysis shows that BSC will break-even by the tenth month of operations.
Break-even Analysis | |
Monthly Units Break-even | 56 |
Monthly Revenue Break-even | $76,150 |
Assumptions: | |
Average Per-Unit Revenue | $1,362.36 |
Average Per-Unit Variable Cost | $0.00 |
Estimated Monthly Fixed Cost | $76,150 |
As the profit and loss table shows, BSC expects to continue its steady growth in profitability over the next three years of operations.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $1,106,240 | $2,300,980 | $4,417,881 |
Direct Cost of Sales | $0 | $0 | $0 |
Other | $0 | $0 | $0 |
Total Cost of Sales | $0 | $0 | $0 |
Gross Margin | $1,106,240 | $2,300,980 | $4,417,881 |
Gross Margin % | 100.00% | 100.00% | 100.00% |
Expenses | |||
Payroll | $600,000 | $660,000 | $726,000 |
Sales and Marketing and Other Expenses | $216,600 | $227,430 | $238,802 |
Depreciation | $6,000 | $6,300 | $6,615 |
Utilities | $1,200 | $1,266 | $1,336 |
Payroll Taxes | $90,000 | $99,000 | $108,900 |
Other | $0 | $0 | $0 |
Total Operating Expenses | $913,800 | $993,996 | $1,081,652 |
Profit Before Interest and Taxes | $192,440 | $1,306,984 | $3,336,229 |
EBITDA | $198,440 | $1,313,284 | $3,342,844 |
Interest Expense | $8,050 | $6,065 | $5,356 |
Taxes Incurred | $45,725 | $325,230 | $846,597 |
Net Profit | $138,666 | $975,689 | $2,484,276 |
Net Profit/Sales | 12.53% | 42.40% | 56.23% |
As the cash flow statement illustrates, BSC expects to maintain a steady rate of cash flow over the next three years of operations.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $1,106,240 | $2,300,980 | $4,417,881 |
Subtotal Cash from Operations | $1,106,240 | $2,300,980 | $4,417,881 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
Subtotal Cash Received | $1,106,240 | $2,300,980 | $4,417,881 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $600,000 | $660,000 | $726,000 |
Bill Payments | $327,069 | $640,332 | $1,156,442 |
Subtotal Spent on Operations | $927,069 | $1,300,332 | $1,882,442 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $36,000 | $6,700 | $7,486 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $45,000 | $55,000 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $963,069 | $1,352,032 | $1,944,928 |
Net Cash Flow | $143,171 | $948,947 | $2,472,953 |
Cash Balance | $293,171 | $1,242,118 | $3,715,072 |
Following is a copy of the company’s projected balance sheet.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $293,171 | $1,242,118 | $3,715,072 |
Other Current Assets | $20,000 | $20,000 | $20,000 |
Total Current Assets | $313,171 | $1,262,118 | $3,735,072 |
Long-term Assets | |||
Long-term Assets | $25,000 | $70,000 | $125,000 |
Accumulated Depreciation | $6,000 | $12,300 | $18,915 |
Total Long-term Assets | $19,000 | $57,700 | $106,085 |
Total Assets | $332,171 | $1,319,818 | $3,841,157 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $35,505 | $54,164 | $98,711 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $35,505 | $54,164 | $98,711 |
Long-term Liabilities | $64,000 | $57,300 | $49,814 |
Total Liabilities | $99,505 | $111,464 | $148,525 |
Paid-in Capital | $99,500 | $99,500 | $99,500 |
Retained Earnings | ($5,500) | $133,166 | $1,108,855 |
Earnings | $138,666 | $975,689 | $2,484,276 |
Total Capital | $232,666 | $1,208,355 | $3,692,631 |
Total Liabilities and Capital | $332,171 | $1,319,818 | $3,841,157 |
Net Worth | $232,666 | $1,208,355 | $3,692,631 |
The following table outlines the important business ratios for Business Solutions Consulting, as determined by the Standard Industry Classification (SIC) Index. Ratios for the Business Consulting services industry (SIC 8748) are used as a benchmark in this table.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 108.00% | 92.00% | 12.40% |
Percent of Total Assets | ||||
Other Current Assets | 6.02% | 1.52% | 0.52% | 44.70% |
Total Current Assets | 94.28% | 95.63% | 97.24% | 74.50% |
Long-term Assets | 5.72% | 4.37% | 2.76% | 25.50% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 10.69% | 4.10% | 2.57% | 44.30% |
Long-term Liabilities | 19.27% | 4.34% | 1.30% | 16.00% |
Total Liabilities | 29.96% | 8.45% | 3.87% | 60.30% |
Net Worth | 70.04% | 91.55% | 96.13% | 39.70% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 100.00% | 100.00% | 100.00% | 0.00% |
Selling, General & Administrative Expenses | 87.63% | 57.71% | 43.51% | 80.80% |
Advertising Expenses | 10.85% | 5.48% | 2.99% | 1.30% |
Profit Before Interest and Taxes | 17.40% | 56.80% | 75.52% | 2.20% |
Main Ratios | ||||
Current | 8.82 | 23.30 | 37.84 | 1.75 |
Quick | 8.82 | 23.30 | 37.84 | 1.38 |
Total Debt to Total Assets | 29.96% | 8.45% | 3.87% | 60.30% |
Pre-tax Return on Net Worth | 79.25% | 107.66% | 90.20% | 3.80% |
Pre-tax Return on Assets | 55.51% | 98.57% | 86.72% | 9.70% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 12.53% | 42.40% | 56.23% | n.a |
Return on Equity | 59.60% | 80.75% | 67.28% | n.a |
Activity Ratios | ||||
Accounts Payable Turnover | 10.18 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 25 | 23 | n.a |
Total Asset Turnover | 3.33 | 1.74 | 1.15 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.43 | 0.09 | 0.04 | n.a |
Current Liab. to Liab. | 0.36 | 0.49 | 0.66 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $277,666 | $1,207,955 | $3,636,360 | n.a |
Interest Coverage | 23.91 | 215.50 | 622.93 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.30 | 0.57 | 0.87 | n.a |
Current Debt/Total Assets | 11% | 4% | 3% | n.a |
Acid Test | 8.82 | 23.30 | 37.84 | n.a |
Sales/Net Worth | 4.75 | 1.90 | 1.20 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Unit Sales | |||||||||||||
Business Plans | 0% | 12 | 13 | 13 | 14 | 15 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |
Start-Up Consulting | 0% | 11 | 12 | 12 | 13 | 13 | 14 | 15 | 15 | 16 | 17 | 18 | 19 |
Annual Reviews | 0% | 14 | 15 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |
Other Ongoing Business Consulting | 0% | 14 | 15 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |
Total Unit Sales | 51 | 54 | 56 | 59 | 62 | 65 | 68 | 72 | 75 | 79 | 83 | 87 | |
Unit Prices | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Business Plans | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | |
Start-Up Consulting | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | |
Annual Reviews | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | |
Other Ongoing Business Consulting | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | $1,500.00 | |
Sales | |||||||||||||
Business Plans | $18,000 | $18,900 | $19,845 | $20,837 | $21,879 | $22,973 | $24,122 | $25,328 | $26,594 | $27,924 | $29,320 | $30,786 | |
Start-Up Consulting | $16,500 | $17,325 | $18,191 | $19,101 | $20,056 | $21,059 | $22,112 | $23,217 | $24,378 | $25,597 | $26,877 | $28,221 | |
Annual Reviews | $14,000 | $14,700 | $15,435 | $16,207 | $17,017 | $17,868 | $18,761 | $19,699 | $20,684 | $21,719 | $22,805 | $23,945 | |
Other Ongoing Business Consulting | $21,000 | $22,050 | $23,153 | $24,310 | $25,526 | $26,802 | $28,142 | $29,549 | $31,027 | $32,578 | $34,207 | $35,917 | |
Total Sales | $69,500 | $72,975 | $76,624 | $80,455 | $84,478 | $88,702 | $93,137 | $97,793 | $102,683 | $107,817 | $113,208 | $118,869 | |
Direct Unit Costs | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Business Plans | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Start-Up Consulting | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Annual Reviews | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Other Ongoing Business Consulting | 0.00% | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Direct Cost of Sales | |||||||||||||
Business Plans | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Start-Up Consulting | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Annual Reviews | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Ongoing Business Consulting | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $69,500 | $72,975 | $76,624 | $80,455 | $84,478 | $88,702 | $93,137 | $97,793 | $102,683 | $107,817 | $113,208 | $118,869 | |
Direct Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Gross Margin | $69,500 | $72,975 | $76,624 | $80,455 | $84,478 | $88,702 | $93,137 | $97,793 | $102,683 | $107,817 | $113,208 | $118,869 | |
Gross Margin % | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | |
Expenses | |||||||||||||
Payroll | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | |
Sales and Marketing and Other Expenses | $18,050 | $18,050 | $18,050 | $18,050 | $18,050 | $18,050 | $18,050 | $18,050 | $18,050 | $18,050 | $18,050 | $18,050 | |
Depreciation | 5% | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 |
Utilities | 6% | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 |
Payroll Taxes | 15% | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 | $7,500 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $76,150 | $76,150 | $76,150 | $76,150 | $76,150 | $76,150 | $76,150 | $76,150 | $76,150 | $76,150 | $76,150 | $76,150 | |
Profit Before Interest and Taxes | ($6,650) | ($3,175) | $474 | $4,305 | $8,328 | $12,552 | $16,987 | $21,643 | $26,533 | $31,667 | $37,058 | $42,719 | |
EBITDA | ($6,150) | ($2,675) | $974 | $4,805 | $8,828 | $13,052 | $17,487 | $22,143 | $27,033 | $32,167 | $37,558 | $43,219 | |
Interest Expense | $808 | $783 | $758 | $733 | $708 | $683 | $658 | $633 | $608 | $583 | $558 | $533 | |
Taxes Incurred | ($2,238) | ($990) | ($71) | $893 | $1,905 | $2,967 | $4,082 | $5,253 | $6,481 | $7,771 | $9,125 | $10,546 | |
Net Profit | ($5,221) | ($2,969) | ($213) | $2,679 | $5,715 | $8,901 | $12,246 | $15,758 | $19,444 | $23,313 | $27,375 | $31,639 | |
Net Profit/Sales | -7.51% | -4.07% | -0.28% | 3.33% | 6.76% | 10.03% | 13.15% | 16.11% | 18.94% | 21.62% | 24.18% | 26.62% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $69,500 | $72,975 | $76,624 | $80,455 | $84,478 | $88,702 | $93,137 | $97,793 | $102,683 | $107,817 | $113,208 | $118,869 | |
Subtotal Cash from Operations | $69,500 | $72,975 | $76,624 | $80,455 | $84,478 | $88,702 | $93,137 | $97,793 | $102,683 | $107,817 | $113,208 | $118,869 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $69,500 | $72,975 | $76,624 | $80,455 | $84,478 | $88,702 | $93,137 | $97,793 | $102,683 | $107,817 | $113,208 | $118,869 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | |
Bill Payments | $1,807 | $24,262 | $25,474 | $26,368 | $27,309 | $28,298 | $29,337 | $30,429 | $31,576 | $32,782 | $34,049 | $35,380 | |
Subtotal Spent on Operations | $51,807 | $74,262 | $75,474 | $76,368 | $77,309 | $78,298 | $79,337 | $80,429 | $81,576 | $82,782 | $84,049 | $85,380 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $54,807 | $77,262 | $78,474 | $79,368 | $80,309 | $81,298 | $82,337 | $83,429 | $84,576 | $85,782 | $87,049 | $88,380 | |
Net Cash Flow | $14,693 | ($4,287) | ($1,850) | $1,086 | $4,169 | $7,404 | $10,800 | $14,365 | $18,107 | $22,036 | $26,160 | $30,489 | |
Cash Balance | $164,693 | $160,406 | $158,556 | $159,643 | $163,811 | $171,215 | $182,015 | $196,380 | $214,487 | $236,523 | $262,682 | $293,171 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Owner / Consultants | 0% | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 |
Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total People | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | |
Total Payroll | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 | $50,000 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $150,000 | $164,693 | $160,406 | $158,556 | $159,643 | $163,811 | $171,215 | $182,015 | $196,380 | $214,487 | $236,523 | $262,682 | $293,171 |
Other Current Assets | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 | $20,000 |
Total Current Assets | $170,000 | $184,693 | $180,406 | $178,556 | $179,643 | $183,811 | $191,215 | $202,015 | $216,380 | $234,487 | $256,523 | $282,682 | $313,171 |
Long-term Assets | |||||||||||||
Long-term Assets | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 |
Accumulated Depreciation | $0 | $500 | $1,000 | $1,500 | $2,000 | $2,500 | $3,000 | $3,500 | $4,000 | $4,500 | $5,000 | $5,500 | $6,000 |
Total Long-term Assets | $25,000 | $24,500 | $24,000 | $23,500 | $23,000 | $22,500 | $22,000 | $21,500 | $21,000 | $20,500 | $20,000 | $19,500 | $19,000 |
Total Assets | $195,000 | $209,193 | $204,406 | $202,056 | $202,643 | $206,311 | $213,215 | $223,515 | $237,380 | $254,987 | $276,523 | $302,182 | $332,171 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $1,000 | $23,413 | $24,596 | $25,459 | $26,367 | $27,321 | $28,324 | $29,377 | $30,485 | $31,648 | $32,871 | $34,156 | $35,505 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $1,000 | $23,413 | $24,596 | $25,459 | $26,367 | $27,321 | $28,324 | $29,377 | $30,485 | $31,648 | $32,871 | $34,156 | $35,505 |
Long-term Liabilities | $100,000 | $97,000 | $94,000 | $91,000 | $88,000 | $85,000 | $82,000 | $79,000 | $76,000 | $73,000 | $70,000 | $67,000 | $64,000 |
Total Liabilities | $101,000 | $120,413 | $118,596 | $116,459 | $114,367 | $112,321 | $110,324 | $108,377 | $106,485 | $104,648 | $102,871 | $101,156 | $99,505 |
Paid-in Capital | $99,500 | $99,500 | $99,500 | $99,500 | $99,500 | $99,500 | $99,500 | $99,500 | $99,500 | $99,500 | $99,500 | $99,500 | $99,500 |
Retained Earnings | ($5,500) | ($5,500) | ($5,500) | ($5,500) | ($5,500) | ($5,500) | ($5,500) | ($5,500) | ($5,500) | ($5,500) | ($5,500) | ($5,500) | ($5,500) |
Earnings | $0 | ($5,221) | ($8,190) | ($8,403) | ($5,724) | ($10) | $8,891 | $21,138 | $36,895 | $56,339 | $79,652 | $107,027 | $138,666 |
Total Capital | $94,000 | $88,779 | $85,810 | $85,597 | $88,276 | $93,990 | $102,891 | $115,138 | $130,895 | $150,339 | $173,652 | $201,027 | $232,666 |
Total Liabilities and Capital | $195,000 | $209,193 | $204,406 | $202,056 | $202,643 | $206,311 | $213,215 | $223,515 | $237,380 | $254,987 | $276,523 | $302,182 | $332,171 |
Net Worth | $94,000 | $88,779 | $85,810 | $85,597 | $88,276 | $93,990 | $102,891 | $115,138 | $130,895 | $150,339 | $173,652 | $201,027 | $232,666 |
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Consulting business plan template.
A Consulting Business Plan is a type of business plan that individuals can use when they would like to start or improve their consulting business. The purpose of the document is to set in written form all of the necessary information about a consulting business, which can include its goals, strategies, management structure, and more. A Consulting Business Plan template can be downloaded below .
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The largest part of your business plan content will depend on the type of consulting you are planning on providing to your clients. For example, an IT Consulting Business Plan is supposed to state specific IT goals that the business is supposed to achieve, describe particular services that will be provided for the clients, state what kind of specialists shall be hired to perform these services, etc.
There are no particular regulations applicable to a business plan, which is why it is up to you to understand how long your business plan should be and what should be there. You can compile or modify it to your convenience and it will be acceptable, as long as your plan serves the purpose you make for it.
You can start writing your business plan with a draft where you will decide what kind of information you would like to include in it. If your company provides services related to business consulting, your business consulting plan should contain parts that will indicate it. Generally, there are several sections that can be included in your plan:
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By Joe Weller | September 9, 2020
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We’ve gathered the most useful collection of business plan PDF templates and samples, including options for organizations of any size and type.
On this page, you’ll find free PDF templates for a simple business plan , small business plan , startup business plan , and more.
These simple business plan PDF templates are ready to use and customizable to fit the needs of any organization.
This template contains a traditional business plan layout to help you map out each aspect, from a company overview to sales projections and a marketing strategy. This template includes a table of contents, as well as space for financing details that startups looking for funding may need to provide.
Download Simple Business Plan Template - PDF
This scannable business plan template allows you to easily identify the most important elements of your plan. Use this template to outline key details pertaining to your business and industry, product or service offerings, target customer segments (and channels to reach them), and to identify sources of revenue. There is also space to include key performance metrics and a timeline of activities.
Download Lean Business Plan Template - PDF
This template is designed to help you develop and implement a 90-day business plan by breaking it down into manageable chunks of time. Use the space provided to detail your main goals and deliverables for each timeframe, and then add the steps necessary to achieve your objectives. Assign task ownership and enter deadlines to ensure your plan stays on track every step of the way.
Download Simple 30-60-90 Day Business Plan Template
PDF | Smartsheet
The following single page business plan templates are designed to help you download your key ideas on paper, and can be used to create a pitch document to gain buy-in from partners, investors, and stakeholders.
Use this one-page template to summarize each aspect of your business concept in a clear and concise manner. Define the who, what, why, and how of your idea, and use the space at the bottom to create a SWOT analysis (strengths, weaknesses, opportunities, and threats) for your business.
Download One-Page Business Plan Template
If you’re looking for a specific type of analysis, check out our collection of SWOT templates .
This one-page business plan template employs the Lean management concept, and encourages you to focus on the key assumptions of your business idea. A Lean plan is not stagnant, so update it as goals and objectives change — the visual timeline at the bottom is ideal for detailing milestones.
Download One-Page Lean Business Plan Template - PDF
Use this business plan template to identify main goals and outline the necessary activities to achieve those goals in 30, 60, and 90-day increments. Easily customize this template to fit your needs while you track the status of each task and goal to keep your business plan on target.
Download One-Page 30-60-90 Day Business Plan Template
For additional single page plans, including an example of a one-page business plan , visit " One-Page Business Plan Templates with a Quick How-To Guide ."
These business plan templates are useful for small businesses that want to map out a way to meet organizational objectives, including how to structure, operate, and expand their business.
A small business can use this template to outline each critical component of a business plan. There is space to provide details about product or service offerings, target audience, customer reach strategy, competitive advantage, and more. Plus, there is space at the bottom of the document to include a SWOT analysis. Once complete, you can use the template as a basis to build out a more elaborate plan.
Download Simple Small Business Plan Template
This fill-in-the-blank template walks you through each section of a business plan. Build upon the fill-in-the-blank content provided in each section to add information about your company, business idea, market analysis, implementation plan, timeline of milestones, and much more.
Download Fill-In-the-Blank Small Business Plan Template - PDF
Use this one-page template to create a scannable business plan that highlights the most essential parts of your organization’s strategy. Provide your business overview and management team details at the top, and then outline the target market, market size, competitive offerings, key objectives and success metrics, financial plan, and more.
Download One-Page Business Plan for Small Business - PDF
Startups can use these business plan templates to check the feasibility of their idea, and articulate their vision to potential investors.
Use this business plan template to organize and prepare each essential component of your startup plan. Outline key details relevant to your concept and organization, including your mission and vision statement, product or services offered, pricing structure, marketing strategy, financial plan, and more.
Download Startup Business Plan Template
Startups can use this sample 30-60-90 day plan to establish main goals and deliverables spanning a 90-day period. Customize the sample goals, deliverables, and activities provided on this template according to the needs of your business. Then, assign task owners and set due dates to help ensure your 90-day plan stays on track.
Download Sample 30-60-90 Day Business Plan for Startup Template
For additional resources to create your plan, visit “ Free Startup Business Plan Templates and Examples .”
Use these business plan PDF templates to outline your organization’s mission, your plan to make a positive impact in your community, and the steps you will take to achieve your nonprofit’s goals.
Use this customizable PDF template to develop a plan that details your organization’s purpose, objectives, and strategy. This template features a table of contents, with room to include your nonprofit’s mission and vision, key team and board members, program offerings, a market and industry analysis, promotional plan, financial plan, and more. This template also contains a visual timeline to display historic and future milestones.
Download Nonprofit Business Plan Template - PDF
This one-page plan serves as a good starting point for established and startup nonprofit organizations to jot down their fundamental goals and objectives. This template contains all the essential aspects of a business plan in a concise and scannable format, including the organizational overview, purpose, promotional plan, key objectives and success metrics, fundraising goals, and more.
Download One-Page Business Plan for Nonprofit Organization Template - PDF
Use these fill-in-the-blank templates as a foundation for creating a comprehensive roadmap that aligns your business strategy with your marketing, sales, and financial goals.
The fill-in-the-blank template contains all the vital parts of a business plan, with sample content that you can customize to fit your needs. There is room to include an executive summary, business description, market analysis, marketing plan, operations plan, financial statements, and more.
Download Simple Fill-In-the-Blank Business Plan Template - PDF
This business plan is designed with a Lean approach that encourages you to clarify and communicate your business idea in a clear and concise manner. This single page fill-in-the-blank template includes space to provide details about your management team, the problem you're solving, the solution, target customers, cost structure, and revenue streams. Use the timeline at the bottom to produce a visual illustration of key milestones.
Download Fill-In-the-Blank Lean Business Plan Template - PDF
For additional resources, take a look at " Free Fill-In-the-Blank Business Plan Templates ."
These sample business plan PDF templates can help you to develop an organized, thorough, and professional business plan.
This business plan example demonstrates a plan for a fictional food truck company. The sample includes all of the elements in a traditional business plan, which makes it a useful starting point for developing a plan specific to your business needs.
Download Basic Business Plan Sample - PDF
Use this sample outline as a starting point for your business plan. Shorten or expand the outline depending on your organization’s needs, and use it to develop a table of contents for your finalized plan.
Download Sample Business Plan Outline Template - PDF
Use this sample template to develop the financial portion of your business plan. The template provides space to include a financial overview, key assumptions, financial indicators, and business ratios. Complete the break-even analysis and add your financial statements to help prove the viability of your organization’s business plan.
Download Business Financial Plan Template
PDF | Smartsheet
For more free, downloadable templates for all aspects of your business, check out “ Free Business Templates for Organizations of All Sizes .”
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1. determine the preferred style of business, 2. create an hr consulting business plan, 3. plan the possible cash flow statement, 4. start building connections in the industry, 5. develop a sales and marketing plan for the startup, 6. begin to build business presence online, share this post on your network, you may also like these articles.
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Access 8 templates for consultants in The Complete Consultant's Success Kit.
As your consulting business goes, the need to become more organized and process-focus grows.
In this kit, we've compiled eight templates you can use to delight your clients.
For your planning and onboarding, we've included a consulting planning template, a presentation template, and an onboarding checklist.
For researching, we've included a SWOT analysis template and a Porter's Five Forces template.
For your clients, we've included a sales, marketing, and business plan template.
Download now to get started!
What is a consulting business plan.
A consulting business plan is a tool that helps consultants develop their business. HubSpot's Consulting Business Plan Template provides tips that make it easy to learn how to write a consulting business plan with an effective structure:
A consulting proposal is designed to demonstrate your knowledge and expertise in a particular field. It provides an outline of the specific services you provide, as well as some estimates on how long it might take to complete those tasks.
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When you're trying to find consulting, it's important to know how to write a proposal. You should start with a cover page that lists your name, the prospective client's name and the date of submission. Then, you'll want an executive summary that covers the client's challenges, how you plan to solve them and what metrics or benchmarks you'll use for success.
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Just sharing some free knowledge that we hope you’ll find useful. Keep us in mind next time you have marketing questions!
HubSpot's consulting templates were made for consulting businesses that want to be more organized and process-focused. For planning, we have a template for consulting planning, presentation, and onboarding checklist. For research, we have SWOT analysis and Porter's Five Forces templates. And finally for clients, there is a sales marketing template.
Using a business plan template tailored for consulting businesses:
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18+ consulting business plan templates.
If you are a consultancy agency dominating a particular niche or possessing some proprietary knowledge, one common occurrence is that you are besieged with service requests from individuals and companies. This may seem to be good for business, but when the majority of such requests for assistance turn out to be dead ends, involving issues people could have solved on their own or with another middleman agency, it will start to represent a drain on your agency’s time and resources. Check out our sample plan templates that can help you draft your own consulting business plan in no time!
General faqs, 1. what is a consulting business plan, 2. what is the role of a business consultant, 3. what are the components of a consulting business plan.
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A business plan is a document that provides the goals and direction of a firm constructed to ensure economic success. Any firm requires a business plan to function in a systematic and efficient manner. The business plan isn’t necessarily used by just business firms; it can also be used by consultancy services.
A consultancy service also requires a business plan to understand how they must function and what changes they should make to their regular activities to ensure the economic growth of their agency. Given below are 11+ consulting business plan templates and examples.
1. consulting business plan template.
Size: A4 & US
This template is a business plan for a consultancy firm that will allow consultancy services formulate a proper direction for themselves. A consulting business requires a plan for themselves in order to ascertain the goals and objectives of the company in general. If a consultancy business claims to be qualified to tell other people how to do their work, they must first show the world that they know how to do their own work best.
The template is an HR consulting business plan that can be used by a consultancy that provides human resources & staffing services. The template helps formulate a business plan personnel agencies that provide their professional consultancy help to any company. It provides specific guidance and knowledge about the domain of hiring and staffing and how one should go about setting up such a specialized firm.
The template is a business consultancy business plan that can be used by consultancy services that aim to provide business growth consultancy to small and medium scale enterprises. It also gives information about the funding of the consultancy company.
The template is an advertising consulting business plan used to construct a proper direction. Advertising consultants also require a business plan that will help them to understand the way the consultancy ought to function to ensure their own economic success. It mentions details of the seed funding and expected revenues and expenses and growth strategies for providing a comprehensive picture to the reader. This template can be useful for advertising consultancies.
The template is a Human Resources consulting business plan that can be used by any HR consultancy service. It is used to create a structured plan for a company providing recruitment and staffing consultancy services to its clients. All crucial details such as strategies, SWOT analysis, and implementation plans have been provided in detail for proper guidance.
Size: 130 KB
The template is a simple consulting business guide that can be used by any consultancy service starting out. This template will provide enough guidance for tapping your existing relationships when starting out afresh as a Business Consultant. Relevant tax and legal obligations have also been laid down precisely for your benefit.
Size: 343 KB
This is a consulting business plan guide used to provide directions regarding setting up a consultancy. It includes all the necessary details for consultancy services such as marketing tools to be used, types of billable services that can be offered in a particular segment and how one can start out easily from their home itself in case of a cash crunch. The template is used by consultancies that require a business plan to facilitate smooth work.
The template is a guide to a consulting start-up business plan that can be used to start a new business for providing consultancy in the field of Strategic and Organizational Development of a company. The template provides a sample that can be followed to construct a definite plan for a start-up consultancy. It is based on scientific research and an online survey and hence is very reliable.
Size: 78 KB
The template is a creative consulting business plan that can be used medical health professionals to chart a consultancy based on medical practices. It has a very innovative approach and provides insights into the unique concept of ‘telehealth’ which can be made use of by medical service providers for improving their efficiency and profits, based on a remote location.
Size: 626 KB
This template is a hospitality consulting business plan guide that can be used to determine new ways of augmenting sales. The template can specifically be used by a hospitality consultancy service to do a self-analysis and find ways of improving margins by adopting a new approach of alliance/tie-up policies. The template provides guidelines on how the consultancy can establish a profitable business plan based on information provided and insights provided. This link Restaurant Consulting Business Plan Examples could prove to be helpful.
Size: 179 KB
The template is a special consulting business plan that is used by government departments to ensure compliance with government regulations. The template is a business plan used by environmental officials to provide proof of compliance in the regional water supply infrastructure.
Size: 328 KB
The template is a consulting business plan by Peace path consulting aid to form a structured list of their goals and business threats. The template is a sample business plan that can be used to construct a structured plan for any social entrepreneurial consultancy firm. For more information, you may refer to Financial Consulting Business Plan Examples for samples.
Text prompt
Create a study plan for final exams in high school
Develop a project timeline for a middle school science fair.
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Sample Consulting Business Plan Text - This part includes actual text from a real consulting business plan example that you can use as-is or modify to fit your specific needs. ... written as tactics that you can copy/paste into a consulting business plan template or PDF. You can even use ChatGPT, Bard, or other AI-writing tools to create a ...
e live training session so that it can be used later.This raises some questions tha. you will need to consider as you plan your business. First, when you create training materials, for instance, in the form of a DVD, CD, or hardcopy materials and later sell them or incorporate them into your consulting wor.
Sample from Growthink's Ultimate Consulting Business Plan Template: Last year, according to IBISworld.com, management consulting services in general brought in revenues of $156 billion and employed 876,000 people in the United States. There were 371,000 businesses in this market, for an average of $178,000 of revenue per employee, industry-wide.
What follows is a listing of key objectives for Sample Plan 5. 1. Client portfolio expansion. The Owner has set client portfolio expansion as one of the primary objectives for this phase of business growth and development. The founder will aggressively pursue this objective, projecting to add no less than x clients during the course of the next ...
The marketing plan should present how your website and search engine strategies will draw in potential customers. Aside from that, you should also include marketing strategies that you will use offline. 5. Prepare a financial forecast. You have to include financial projections in your business plan.
Hiring plan. Mention the number of project managers, analysts, BD, administrative, and support workers needed for your business. Briefly describe the qualifications, skill sets, and experience for these roles and lay your hiring plan to hire employees. Refer to this example of a hiring plan for a consultancy by Upmetrics.
Consultant Business Plan Template. Prepared for: [Client.FirstName] [Client.LastName] . A consulting business plan is a document illustrating how you plan to start or grow your consulting agency. The key components include an overview of the business, team, industry, competitors, target customers, and a plan for the operations and marketing.
Step 4: Integrate your ideal schedule into the one-page consulting business plan. With step number 3, you've mapped out what you want to include in your business plan in terms of client type and nature of consulting work. In step number 4, we will build your ideal schedule into the business plan for the next 12 months.
However, in general, you can expect to spend between $10,000 and $50,000 to start a consulting business. Here is a breakdown of some of the typical start-up costs for a consulting business: Business formation: $100 to $1,000. Website and domain name: $100 to $2,500. Marketing and advertising: $500 to $5,000.
Consultant Business Plan Sample. 5. Real Estate Consulting Business Plan Sample. 6. Consultant Business Plan Development Template. 7. Multidisciplinary Business Planning Firms Sample. 8. Consultant Business Plan in PDF.
Starting a consulting business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.. 1. Develop A Consulting Business Plan - The first step in starting a business is to create a detailed consulting business plan that outlines all aspects of the venture. This should include potential market size and ...
Get the most out of your business plan example. Follow these tips to quickly develop a working business plan from this sample. 1. Don't worry about finding an exact match. We have over 550 sample business plan templates. So, make sure the plan is a close match, but don't get hung up on the details. Your business is unique and will differ from ...
Picking a niche and defining your ideal client is the foundation on which you'll build your business — and get clients. You shouldn't move on with your consulting business plan until you've defined your ideal client. Once you've done that, you can move on to the next part: Magnetic Messaging. 3. Magnetic Messaging.
Consulting Firm Business Plan Guide. Starting your own business, or scaling up is intimidating. We're here to break it down piece by piece so you can create your very own plan. You're in the right place if…. You have an idea for a consulting firm, and you're ready to take the next step You've started a business, and you need focus and ...
The objectives for Growth Management and Strategies are: Gain access to an SBA loan upon start up. Grow the company from 2 employees in Year 1, to over 10 by Year 5. Increase revenue to over $3 million by Year 3. Increase client base by 450% in three years. Maintain job costing that keeps margins above 70%.
Talk to your peers, friends, previous business associates and potential customers. Show them your plan and listen to their feedback. 5. Keep it simple. Don't write dozens of pages. You'll bore the investors and your plan will end up on a pile where nobody will ever look at it again - including you.
The Company. Business Solutions Consulting is a team of six business consultants. Each consultant specializes in a particular discipline, including finance, sales and marketing, technology, management, operations, and human resources. BSC offers a list of services for business owners to choose from, depending on their particular business needs.
A Consulting Business Plan template can be downloaded below. Alternate Name: Consulting Services Business Plan. The largest part of your business plan content will depend on the type of consulting you are planning on providing to your clients. For example, an IT Consulting Business Plan is supposed to state specific IT goals that the business ...
Lean Business Plan Template PDF. This scannable business plan template allows you to easily identify the most important elements of your plan. Use this template to outline key details pertaining to your business and industry, product or service offerings, target customer segments (and channels to reach them), and to identify sources of revenue.
4. Start Building Connections in the Industry. Knowing that income will come at a later time, it is best to establish a referral network before launching the consulting business. Create a referral list, including family, friends, college classmates, former colleagues, clients, and suppliers.
In this Consulting Kit, you'll get these 8 templates: Management Consulting Plan Template. Business Plan Template. Marketing Plan Template. Sales Plan Template. New Client Onboarding Checklist. Consulting Plan Presentation Template (PPT) SWOT Analysis Template. Porter's Five Forces Analysis Template.
18+ Consulting Business Plan Templates. If you are a consultancy agency dominating a particular niche or possessing some proprietary knowledge, one common occurrence is that you are besieged with service requests from individuals and companies. This may seem to be good for business, but when the majority of such requests for assistance turn out ...
File Format. DOC. Size: 328 KB. Download. The template is a consulting business plan by Peace path consulting aid to form a structured list of their goals and business threats. The template is a sample business plan that can be used to construct a structured plan for any social entrepreneurial consultancy firm.