Top 10 Home Businesses You Can Start Online Cheap: Business Plan Writing

OVERVIEW OF VENTURE

The number of individuals who are interested in launching their own business is increasing steadily as the economy worsens and more and more people lose their conventional positions at companies where they were previously employed. There are countless potential entrepreneurs and investors seeking new business possibilites every day. This market can provide you with a lucrative opportunity to profit from this demand for the business plans all entrepreneurs require as a prerequisite to starting their own business.

Many companies pay thousands of dollars to have their business plans developed when they are attempting to secure seed capital from venture or bank sources, or obtain funding for new projects. A badly written business plan can handicap or totally eliminate the possibilities of securing the financing required, which is why most entrepreneurs elect to have their business plans written by acknowledged professionals in the field with a strong portfolio and solid references.

This market is constantly in the process of renewing itself as there are always companies who are in the embryonic start up stages, there is a considerable opportunity to profit from this type of enterprise.

EXPERTISE REQUIRED

Advanced writing skills and a comprehensive understanding of normal enterprise practices are a minimum requirement for operating this type of service. The accounting and bookkeeping background to develop logical and attainable financial projections can be generated directly through your enterprise, may be outsourced to a third party, or would be provided by the customer. Comprehension and experience working with bank officers and private lenders is also a considerable benefit.

EXPENDITURES TO LAUNCH THIS VENTURE

The expenditures associated with launching this type of enterprise range from $1,000 to $4,000. At first you will have to pay to design and develop your website (unless you have the skills to do that yourself) as well as confront all expenditures associated with this process, such as a hosting service. If you want to develop the database, there will be additional expenditures involved, and the total cost will be determined by the number of features and searchable fields you implement. Additional expenditures associated with launching this enterprise include online advertising expenditures and any offline promotion that you may require to launch, as well as the various overhead expenditures such as office supplies and any telecommunications bills you may incur.

NUMBER OF PERSONNEL NEEDED TO LAUNCH


One full-time experienced and highly skilled researcher and writer is required to run this type of enterprise. At first it can be launched as a part-time business.

IMPORTANT BUSINESS ISSUES TO ADDRESS

A typical obstacle to start-up businesses is that the various financial establishments and venture lenders are unwilling to invest in the concept behind the business. When that occurs, entrepreneurs often walk away from the business concept along with any financial and legal commitments they have incurred while attempting to start the company. This tendency to abandon the process could seriously affect the profitability of your business, therefore to avoid this difficulty you should always demand approximately 50 % deposit of all funds payable for the project at the outset. The remainder of the payment can be collected once the business plan has been completed to the client's satisfaction.

ADDITIONAL REVENUE

In addition to drafting business plans, you can also structure a referral service to some of the other enterprise service providers in your local area such as accountants and lawyers. You can receive a referral fee for every company that you refer to these professionals, and they can provide reciprocal clientele as well, which is a good way for your company to obtain additional clients and revenue.

Check Out The Entire Top 10 Home Businesses You Can Start Online Cheap!

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