Need a hand writing a business plan? For a fee, MBA candidates at London Business School will help. The school's Foundation for Entrepreneurial Management (FEM) has joined forces with Business Plan Services, a 10-year-old company, to offer their writing skills out of the school's business center.
Business Plan Services' 20 full-time consultants and a pool of 180 freelance second-year MBAs are available to write business plans, complete with industry analysis. They make no guarantees that the companies will be successful, but do promise to write business plans that work -- or at least ones that can attract new financing. The service costs about $4,000 to $8,000, depending on the degree of difficulty. For about $700, they'll revise existing business plans.
Jane Khedair, managing director of Business Plan Services, says the company has helped about 600 companies since 1991, including writing 100 plans in 2000 -- mostly for companies in Britain. With the help of the London Business School brand, "this year should be busier," she says. Shrugging off any suggestion of problems with a softening economy, she adds that "recessionary times can work in our favor" if laid-off workers decide to start new companies.
By Mica Schneider in New York