Business Plan Software, Sample Business Plan or Professional Business Plan Writer?

 If you need a business plan to present to investors to raise capital or loans to fund your business which of these three options should you go for? 

Many times people looking for business plans especially here in Nigeria have a tendency to go online to download a sample business plan format to guide them in writing a business plan. Along the line they discover two problems namely; that those online business plans are written for businesses in other countries and do not have realistic or comparable factors which would make them viable in Nigeria. The other problem is that a sample business plan may still have to be edited or discarded off entirely when it doesn’t seem to make sense at least in the Nigerian context and/or suit the particular business opportunity you have in mind. On the other hand, one may be tempted to buy business plan software which would provide one with fill in the blank options or one that is already written as part of a collection of business plans for sale.

Really the choice of which option you should go for would depend on your situation and what is at stake for you when preparing the business plan and I’ll explain this shortly.

Buying a do it yourself business plan software

You can actually order for a ready-made business plan online at various places but I’ll recommend live plan to anyone looking for a business plan software from a reputable business plan writing company. There are many other places to order for a ready-made business plan but I won’t be mentioning them in this post.

Advantages of buying a ready-made business plan

• It’s cheaper than hiring a professional business plan writer as it usually comes at a fraction of the professional’s fee sometimes as low as $10
• It is faster because you can have it prepared in less than 48 hours which is almost impossible if you contact a professional business plan writer to prepare one for you.
• You are directly involved in its preparation because you’ll do the editing, presentation etc yourself

Disadvantages of buying and using a ready-made business plan

• The format may not be suitable for your intended/targeted lender or investor. The bank or investor who looks at your business plan may have specific things he’s interested in e.g working capital turnover or payback plan which your ready-made business plan may not have answers to
• The scope of the business plan may be limited and may not reflect the current situation of your business, the market analysis may need to change because market trends are not constant but change with time. It’s like buying a Nokia 3310 and still expecting it to function like iphone 6. The sample business plan can be likened to the Nokia phone in terms of being outdated or not complete for present day mobile phone usage.

Download and Edit a free sample business plan or business Plan format/template

There are many sample business plan formats available for download online. Some of these business plans have formats that are not suitable for use in certain countries because they are designed to fit into the overall economic situations of their respective countries. For instance a business plan sample on supermarket business from bplans.com will specify locations in the US, target markets specifically showing how potential customers shop (which is a lifestyle issue) and costing in US dollar whereas someone living in say Nigeria in search of a business plan sample sees this business plan, downloads it and edits it removing anything suggesting US without considering the difficulty in adapting realistic assumptions that fits the Nigerian business climate into the downloaded business plan. In other words you have picked up a Toyota vehicle, removed its engine and replaced it with that of a Volkswagen and expect the car to function optimally without any awkward hitches.

Advantages of downloading a business plan sample

• It saves you time because you don’t have to do hard time consuming research
• You have a standard template to work with which would improve your business plan presentation
• It is inexpensive compared to either hiring a business plan writer or buying a ready-made business plan because you get it absolutely free of charge

Disadvantages of downloading a business plan sample 

• Since business plans are not a one size fits all document it follows that a downloaded and edited business plan sample will not provide ample details on the particular business opportunity you’re presenting the business plan for
• They are not sufficiently suitable for your business venture and the opportunity it stands for

Hire a Business Plan Expert to write you a New Business Plan from Scratch

This is the least preferred option by most people because it entails entrusting your business idea to another person who you are not sure won’t go into the business you are about venturing into or possibly sell your idea to another person - although there are ways to overcome this when you come in contact with the right business plan writer. Secondly you have to pay a hefty fee and the chances of you getting exactly what you want can only be guaranteed by the professional’s proven competence which will either be based on a referral or by the claims made by the business plan writer. Thirdly this option is suitable for people who don’t have time to write the business plan themselves, can’t write it even if they had enough time and/or prefer to have a professional write the business plan especially if you are going to present it to a distinguished panel of investors or a bank with very strict standards.

Advantages of hiring a business plan writer

• The business plan will be customized to your own particular business needs as the business plan writer will seek your input either by oral or written interview and your responses will guide his/her write up
• The business plan will be more professionally written than downloading and editing a sample and is more likely also to be better than a ready-made business plan purchased online
• A professionally written business plan usually has greater impact than a copy and paste business plan sample simply because the uniqueness, viability and the growth potentials of the business opportunity will speak out through the business plan
• A professionally written business plan is usually more realistic than other options because business plan writers work with realistic assumptions and calculations when forecasting and projecting financial details
• It is less Stressful to you because all you do is pay for a service and make needed input by way of feedback you don’t write anything or have to stress yourself doing research and calculations.

Disadvantages of hiring a business plan writer

• It will cost you more money because you have to spend higher than the other two options but then it often proves to be worthwhile – when you hire the right business plan writer.
• The business plan takes longer time to complete: because the business plan writer has to research the business opportunity and do detailed write-ups, rewriting the draft, making the business plan presentations and several other tasks which takes longer time from between 5 to 14 days to complete
• You are only indirectly involved in terms of only making inputs whereas the actual writing and business plan development is not in your hands until after you receive the final draft

Final Thoughts on which business plan option you should opt for

The ball is in the court of the prospective business plan seeker your choice of which option to go for should be based on what you want to achieve with the business and how important that achievement would be to you – if you are highly motivated you are not likely to gamble with your options. Another thing to consider is your budget for the business plan, the higher the cost compared to your budget the more likely you are to pursue less expensive options. However you should be guided by whether you want to succeed or not and which option will best ensure that you succeed.

You can reach an experienced, professional business plan writer in Nigeria either by email: paulonwueme@gmail.com or call: 08032064106

How to set up a professional tailoring Service in Nigeria

There are many service businesses one can start with little or no capital even from home and one of such businesses is Tailoring. The good thing about this business is that you could start with just one sewing machine from your bedroom and within months be handling jobs worth hundreds of thousands of naira depending on how well you prove yourself.

The business typically involves taking customers measurements and their requirements and sewing to type. The potential in the business is vast but is only for the skilled and patient.

NB: Your skills and expertise should be your greatest asset in this business and excellent rapport with customers else you could be frustrated and be forced to make an early exit.

Opportunities

There are many companies and institutions that need to have uniforms produced in bulk to be worn by their staff or members. Think about churches, hotels, security guards companies, para-military institutions, factories and hospitals to mention a few. Think of just how much contracts you could potentially secure if say you’re contacted to sew uniforms for a primary school with 1000 pupils or a security guards company that needs 300 uniforms and there thousands of companies like that all over the country.

Besides this there’s also customized tailoring in which a client wants his/her clothes sewn to their own tastes and specifications. For this class of customers the price is premium and majority of people who fall into this category are celebrities and upwardly mobile, trendy and socially active folks who would rather rock expensive designer wares than buy common clothing.

Challenges

Tailoring is quite a challenging vocation to undertake as there are so many people doing it with profit margin not so attractive but that is if you are like every other tailor. The key to standing out and making a brand that puts good cash in your pocket is excellence and efficiency. Can you despite the challenges be an excellent and efficient tailoring service? One of the key challenges is low purchasing power within the economy. People and even companies complain of cash squeeze which makes it difficult for them to pay for goods and services at premium prices so they’ll rather patronize someone else who can offer them a lesser charge that could negatively affect your bottom line. Besides the cash squeeze could also result in low patronage.

Marketing Strategy

Reaching your target market shouldn’t be a challenge once you become a household name therefore the real strategy would be how to make yourself well known within your niche. There are many ways to achieve this for instance effective customer service, excellent branding, referrals and direct marketing to clients.

Financial Summary

Industrial Sewing Machine: N80,000

Accessories (scissors, tape, threads etc): 10,000

Shop Space: N120,000

Furniture: N15,000

Others: N50,000

Total: N275,000

Do you need to have a professionally written business plan? Contact me to write one for you: 0803 206 4106

How to get well written Business Plans in Nigeria

One of the major causes of failure in business is the lack of a viable business plan. In fact it has been said that many business fail not because the business ideas weren’t good but actually the implementation of those ideas.

Another reason businesses fail is because of inadequate financing. If you want to raise additional finance for expansion you’ll need a business plan because banks and investors won’t just listen to mere words but actionable, well documented plans that will move your company/business to the envisaged position.

What is business Plan?

A business plan is a document that provides useful information about stated business goals such as projected earnings, profit, market size and administrative plans needed to make such goals attainable.

You could see it as a road map to direct you to a certain destination – your desired business position within your industry and within the market. It’s a document that says what your business goals are, how you intend to achieve those goals and what your business internal structure will or already looks like.

Why do you need a business Plan?

Why should anyone even want to consider writing a business plan in the first place? This question is answered here;

To raise funds from investors to start a business

There are many business ideas that may never see the light of day not because they’re not viable but simply because there’s no capital to invest in it. But even if the idea makes sense and happen to know people willing to invest in your idea, most investors would still ask for a business plan. Their reason for wanting it is to get insights into what your business goals are, what steps you’ll put in place to achieve them and how profitable is the opportunity.

To expand an existing business

A business plan can also help you find ways to expand your existing business. You might discover along the line a new product or service or an underserved market segment that needs exploitation, how do you go about it? That’s another reason you need a business plan.

To Capture a Market or Market Segment

Sometimes the competition is just too weak but the demand for a product is high. A unique selling point is often the difference between a market leader and a struggling competitor. A business plan can help you arrive at a unique offering that’s head and shoulders above what the competition has to offer.

To provide a blue print for business success

How about running your business internally so you can turn out great results in how you utilize your business resources? A business plan is like a road map which directs you on how to run your business showing what you intend to do in order to achieve your business goals and more.

If you need a well written business plan but don’t have the time or expertise you can contact a specialist business plan writer to do a detailed analysis of a business opportunity or market survey. Simply call: 0803 206 4106