PROS / MasterPlans received one of the highest scores for business plan quality.
CONS / You pay extra if you want a custom-designed plan.
VERDICT / This service provides high-quality business plans with below-average pricing, but it doesn't offer consulting services.
MasterPlans, based in Portland, Oregon, writes business plans for SBA loans, visa applications as well as for businesses seeking venture capital or angel investors. In addition to business plan writing, MasterPlans can also review your existing business plan and give you feedback and suggestions for improvement. The plans offered by this service are high quality and rate well in terms of costs and turnaround times.
When you contact MasterPlans and engage them to write a plan for you, you're assigned a project manager who manages a team of experts. After the kickoff call, those experts work individually on the market analysis, financial forecasts and business narrative. By dividing the plan up in this way, MasterPlans is able to complete your plan faster.
Our reviewers evaluated the sample business plan posted by MasterPlans and compared it to a checklist of best practices. We gave MasterPlans a business plan quality score of 100 percent. The plan is thorough and contains all the necessary elements: market, industry, and competitive analysis; detailed financial forecasts; marketing plans; and detail about what differentiates the client's product from the competition.
MasterPlans uses IBISWorld and ESRI for its market research. It also has an extensive in-house library of reports and articles to create the industry and market analysis section of your business plan. You receive a printed and bound copy of your plan, but unless you pay extra, the plan is a basic document with no extra design elements added to it.
It usually takes between seven to 10 days before you receive the first draft of your business plan. This is average for the services we reviewed. If you need your plan quickly, you can get a rush job for an additional fee. The cost for a business plan through MasterPlans ranges from $1,500 to $5,000, depending on the aims of the plan and its complexity.
Once you receive the first draft, you have four weeks to review it and provide your feedback and changes to MasterPlans. You can expect to receive a corrected plan in two to three days. If you have an existing plan and want it critiqued by MasterPlans, you can submit it and receive feedback within one day. In addition to plan reviews, MasterPlans offers management consulting.
MasterPlans offers high-quality business plans that cost average, according to the services we evaluated. You can expect to receive a draft within seven to 10 business days. You will have to pay extra if you want your plan to be designed.