Business Consulting Firm Business Plan Sample

Business Consulting Business Plan for Starting Your Own Firm

Do you know why your business is running into a loss? Or do you want to expand your product line but don’t know where to start? There are many times in businesses when business owners need some expert advice and strategist to help them with their goals. And that’s where the scope of a business consulting firm starts.

A business consulting firm hires experienced and qualified business consultants to provide credible and implementable strategies to businesses. The services of business consulting firms may range from training other’s employees to completely reviving a business organization. The business is extremely profitable due to its immense need and never-ending scope.

So, if you have made up your mind to enter this venture, the first step would be to create a business consulting business plan template. If you don’t know how to create a business plan consulting firms, you can take help from here. In this blog, we’re providing small business plan consulting firms for a startup ‘Bruce Consulting Group’.

Business Consulting Business Plan Summary

2.1 The Business

Bruce Consulting Group will be a registered and licensed business consulting company based in Detroit. The firm will aim at providing expert solutions and detailed proposals/ startup and marketing plans to small and medium-sized businesses.

2.2 Management of Business Consulting Firm

For starting a business consulting firm, you’ll need to hire people who are experts in different fields and business domains. A good approach will be to decide your specialties and type of consultation services in your business plan consulting firms. Defining your consultation types in your business consulting and resource management business plan consulting firms will help you in acquiring the right talent and tools to provide your services.

In this sample business plan for a business consulting firm, we will provide all details of how Bruce Consulting Group will be managing its resources and finances to provide excellent service as well as to earn target profits.

2.3 Customers of Business Consulting Company

Our major customers will be businesses of all types and sizes who may need consultant firm business plans, employee training programs, outsourcing programs, legal advice, and more.

2.4 Business Target

Our targets are:

• To maintain a CSAT score of 90 to 95% throughout our service years
• To earn a net profit margin of $26k per month by the end of the first three years
• To extend our services to two more cities by the end of the first five years

Franchise Business Plan

Helps the franchisee get business case approval from the franchisor

Company Summary

3.1 Company Owner

Bruce Consulting Group will be owned by Bruce Pattinson. Bruce is a Chartered Financial Analyst. He has done his MBA and CFA from the University of Michigan. During the last twelve years, he has served in top organizations as an investment advisor.

3.2 Why the business consulting firm is being started

Bruce is famous for his expert analysis and easy-to-implement strategies. During his service years, he has gained huge experience in business strategies and operations. To spread his influence on a wider scale, Bruce decided to launch his own consulting firm.

3.3 How the business consulting firm will be started

Step1: Create Business Consulting Marketing Plan

The first step would be to develop a business plan for business consulting. Since this business demands huge responsibility, you’ll need a skilled team, experienced management, and a proper plan to run it. It is recommended to study some directives of a business consulting firm consultant firm business plan examples to have an idea of what others are offering in this domain. You can also take help from this sample business plan for a business consulting company as it covers all details.

Step2: Define The Brand

The second step is to get registered and licensed and define your business values. This is also the time to set your services so that people can identify you and your competitive advantages.

Step3: Establish Physical & Web Presence

After planning everything, you should start establishing your official presence. For that, you’ll need to rent a facility and hire the required staff. Meanwhile, you should also establish a website presence so that people can find you easily from anywhere.

Step5: Promote and Market

Lastly, after launching your business, you will need to promote your services so that your target customers can discover who you are.

Start-up Expenses
Legal	$253,000
Consultants	$0
Insurance	$35,000
Rent	$24,000
Research and Development	$35,000
Expensed Equipment	$48,000
Signs	$4,000
TOTAL START-UP EXPENSES	$399,000
Start-up Assets	$321,000
Cash Required	$348,900
Start-up Inventory	$55,000
Other Current Assets	$230,000
Long-term Assets	$265,000
TOTAL ASSETS	$1,219,900
Total Requirements	$1,618,900
START-UP FUNDING
Start-up Expenses to Fund	$399,000
Start-up Assets to Fund	$1,219,900
TOTAL FUNDING REQUIRED	$1,618,900
Assets
Non-cash Assets from Start-up	$1,595,900
Cash Requirements from Start-up	$364,000
Additional Cash Raised	$51,000
Cash Balance on Starting Date	$31,000
TOTAL ASSETS	$2,041,900
Liabilities and Capital
Liabilities	$30,000
Current Borrowing	$0
Long-term Liabilities	$0
Accounts Payable (Outstanding Bills)	$43,000
Other Current Liabilities (interest-free)	$0
TOTAL LIABILITIES	$73,000
Capital
Planned Investment	$1,618,900
Investor 1	$0
Investor 2	$0
Other	$0
Additional Investment Requirement	$0
TOTAL PLANNED INVESTMENT	$1,618,900
Loss at Start-up (Start-up Expenses)	$350,000
TOTAL CAPITAL	$1,968,900
TOTAL CAPITAL AND LIABILITIES	$2,041,900
Total Funding	$1,618,900

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Services of Business Consulting Firm

While creating a business plan consulting firms for a start-up business consulting you should clearly mention your services so that you can hire the required talent accordingly. Moreover, deciding your services before developing a plan for business consulting is also important to estimate costs, expenses, and sales.

• Technology Driven Solutions (Digital Transformations)

Our primary service will be digitizing businesses by providing them with artificially intelligent solutions such as Chatbots. Our tech solutions will be based on enhancing productivity and efficiency in workspaces.

• Analytics and Innovation Consulting

Using Analytics techniques, we’ll turn daily information regarding finance, operations, risks, supplies, and workforce into organized analytics to figure out actionable strategies and models.

• Strategy and Operations Consulting

For complex problems and operations, we will carry out rigorous analysis to find out executable approach. We will provide complete solutions to startups about how to start their businesses. We’ll also provide plans to established businesses who may want to expand their offerings and workforces.

• Human Capital & Finance Transformation

We will offer HR solutions and programs to innovate staff changes, leadership, and talent to improve efficiency in an organization. We’ll also offer financial executive services to drive the companys’ growth.

Marketing Analysis of a Business Consulting Company

Business Plan for Investors

Marketing analysis is the study of market analytics from the financial and sales points of view. In this blog on how to write a business consulting firm plan, we’re providing marketing analysis done for Bruce Consulting Group.

5.1 Market Trends

According to IBISWorld, more than 865k management consulting firms are running in the United States. The number is expected to increase in the coming years due to businesses’ inclination towards efficient digital solutions. At present, the industry is responsible for employing 1.6 million people. Moreover, Statista reports the current market size of consulting firms to be $69.9 billion in the United States. With the growth in business consulting startups, these stats of market share and employment are also bound to increase.

5.2 Marketing Segmentation

Marketing segmentation is yet another important component of a consultant firm business plan template. In this, you have to divide your target market into distinct groups of customers. This is to analyze the buying capacities and trends of each of the target categories to estimate profits you can earn in a specific marketplace. Moreover, this practice also enables you in deciding on the pricing strategy, and advertisement mediums.

In this short business plan consulting firms, we’re providing the marketing segmentation done for Bruce Consulting Group. As the type of customers hugely depends on your offerings, you should also study another example of a business consulting firm business plan to know more customer groups associated with different services.

5.2.1 Budding Entrepreneurs

Start-up companies will be our topmost group of target customers. Entrepreneurs who are starting some business for the first time lack experience in planning all aspects of the business. They will need our help in making financial and marketing plans, business proposals, HR programs, training programs, and more.

5.2.2 Newly Established Companies

The second group of our target customers will be 2 to 3-year-old companies and businesses. These businesses are expected to avail of all our services to efficiently manage their operations and to boost their growth.

5.2.3 Old Companies & Organizations

Old companies who are looking for solutions to revive their operations, workforce and capabilities will also be our primary customers. They are expected to be the biggest consumer of our digital transformation solutions. Moreover, companies that are established for a long-time usually need employee training programs, infrastructure renewal programs, and software development programs to keep pace with the modernizing world.

Market Analysis
Potential Customers	Growth	Year 1	Year 2	Year 3	Year 4	Year 5	CAGR
Budding Entrepreneurs	33%	40,000	41,000	43,000	44,000	45,000	10.00%
Newly Established Companies	29%	31,000	32,000	33,000	34,000	35,000	10.00%
Old Companies & Organizations	38%	49,000	51,000	52,000	54,000	55,000	11.00%
Total	100%	120,000	124,000	128,000	132,000	135,000	10%

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5.3 Business Target

Our business targets are:

• To maintain a CSAT score of 90 to 95% throughout our service years
• To extend our services to two more cities by the end of the first five years

5.4 Product Pricing

Our prices are slightly higher than those of our competitors. This is because of our highly skilled team and our exclusive solutions. Although our services are priced at a higher rate, we expect to get more customers due to our competitive benefits and also because of the value we offer to our customers and their work.

Marketing Strategy of Business Consulting Business

After you have known everything about how to create an action plan for business consulting you should start working on a business plan consulting firms marketing plan. Because it is what you need to draw customers to your site. Without an effective marketing plan, your customers will never know your competitive advantages and specialties.

6.1 Competitive Analysis

Bruce Consulting Group will come up with the following competitive aspects:

1. All of our financial executives, business consultants, and workers are highly experienced and skilled. Through critical and analytical analysis, our workers will come up with exclusive solutions for your business.
2. Secondly, we believe in working together. Our experts will collaborate with you to understand your business and demands so that we can come up with a collaborative solution.
3. Lastly, we believe that employees, no matter how skillful they are, should be trained continuously to keep pace with the innovating world. So, to keep our workforce skilled and updated at all times, we’ll ensure continuous training of our staff too.

6.2 Sales Strategy

• We’ll advertise our startup through Google Local ads service and local newspapers.
• We’ll ensure a strong web and social media presence.
• We’ll offer a 30% discount on our services for the first three months of our launch.

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

Sales Forecast
Unit Sales	Year 1	Year 2	Year 3
Technology Driven Solutions (Digital Transformations)	43,000	45,580	48,315
Analytics and Innovation Consulting	48,000	50,880	53,933
Strategy and Operations Consulting	47,000	49,820	52,809
Human Capital & Finance Transformation	31,000	32,860	34,832
TOTAL UNIT SALES	169,000	179,140	189,888
Unit Prices	Year 1	Year 2	Year 3
Technology Driven Solutions (Digital Transformations)	$64.00	$74.24	$86.12
Analytics and Innovation Consulting	$58.00	$67.28	$78.04
Strategy and Operations Consulting	$55.00	$63.80	$74.01
Human Capital & Finance Transformation	$57.00	$66.12	$76.70
Sales
Technology Driven Solutions (Digital Transformations)	$2,752,000.00	$3,383,859.20	$4,160,793.27
Analytics and Innovation Consulting	$2,784,000.00	$3,423,206.40	$4,209,174.59
Strategy and Operations Consulting	$2,585,000.00	$3,178,516.00	$3,908,303.27
Human Capital & Finance Transformation	$1,767,000.00	$2,172,703.20	$2,671,555.85
TOTAL SALES	$9,888,000.00	$12,158,284.80	$14,949,826.99
Direct Unit Costs	Year 1	Year 2	Year 3
Technology Driven Solutions (Digital Transformations)	$62.00	$70.00	$83.00
Analytics and Innovation Consulting	$56.00	$64.00	$74.00
Strategy and Operations Consulting	$52.00	$60.00	$70.00
Human Capital & Finance Transformation	$54.00	$63.00	$71.00
Direct Cost of Sales
Technology Driven Solutions (Digital Transformations)	$2,666,000.00	$3,190,600.00	$4,010,128.40
Analytics and Innovation Consulting	$2,688,000.00	$3,256,320.00	$3,991,027.20
Strategy and Operations Consulting	$2,444,000.00	$2,989,200.00	$3,696,644.00
Human Capital & Finance Transformation	$1,674,000.00	$2,070,180.00	$2,473,043.60
Subtotal Direct Cost of Sales	$9,472,000.00	$11,506,300.00	$14,170,843.20

Personnel plan

When you are developing a business plan consulting firms you should create a detailed list of required employees. Through it, you’ll be able to devise selection criteria, interviewing, and testing techniques to find the most competent employees.

7.1 Company Staff

Anna will be the CEO herself. However, she’ll hire the following people.

• 1 Co-Manager to help manage business operations
• 3 Management Consultants to help companies improve efficiency
• 2 IT Consultants to provide technical solution consultation
• 2 Human Resource Consultants to help companies develop their HR department
• 2 Operations Consultants to help companies optimize their performance
• 3 Financial Consultants to help monitor companies’ financial situations
• 1 Accountant to maintain financial records
• 1 IT Expert to run the company’s database
• 1 Web Developer to manage the online presence
• 1 Call Operator
• 2 General Assistants
• 1 Driver

7.2 Average Salary of Employees

Personnel Plan
	Year 1	Year 2	Year 3
Co-Manager	$13,000	$14,300	$15,730
Management Consultants	$27,000	$29,700	$32,670
IT Consultants	$20,000	$22,000	$24,200
Human Resource Consultants	$20,000	$22,000	$24,200
Operation Consultants	$21,000	$23,100	$25,410
Financial Consultants	$30,000	$33,000	$36,300
Accountant	$9,000	$9,900	$10,890
IT Expert	$7,000	$7,700	$8,470
Web Developer	$6,600	$7,260	$7,986
Call Operator	$6,000	$6,600	$7,260
General Assistants	$12,000	$13,200	$14,520
Driver	$7,000	$7,700	$8,470
Total Salaries	$178,600	$196,460	$216,106

Financial Plan

The last thing to include in your business plan consulting firms is the financial plan. Though starting a business consulting firm doesn’t require any specific inventory or equipment, still the costs of starting and running it are high due to the following major expenses.

• Costs involved in hiring the most skillful employees.
• Costs of keeping your employees updated and skilled all the time by continuous training.
• High costs of software development and digital transformation services provided to other companies.
• Costs involved in training workforce of other companies (client companies).

Thus, all the expenses for providing your services, and retaining your workforce need proper planning and management. To efficiently manage these finances, resources, and earnings, the only way is to create a financial plan. In this blog, we’re providing the financial plan of Bruce Consulting Group so that you can get an idea of gross margins, projected cash flow, and other important components of an accurate financial plan.

8.1 Important Assumptions

General Assumptions
	Year 1	Year 2	Year 3
Plan Month	1	2	3
Current Interest Rate	8.12%	8.18%	8.21%
Long-term Interest Rate	8.30%	8.35%	8.40%
Tax Rate	23.76%	24.03%	24.80%
Other	0	0	0

8.2 Break-even Analysis

Break-Even Analysis
Monthly Units Break-even	5350
Monthly Revenue Break-even	$135,040
Assumptions:
Average Per-Unit Revenue	$239.00
Average Per-Unit Variable Cost	$0.69
Estimated Monthly Fixed Cost	$164,230

8.3 Projected Profit and Loss

Pro Forma Profit And Loss
	Year 1	Year 2	Year 3
Sales	$9,888,000	$12,158,285	$14,949,827
Direct Cost of Sales	$9,472,000	$11,506,300	$14,170,843
Other	$0	$0	$0
TOTAL COST OF SALES	$9,472,000	$11,506,300	$14,170,843
Gross Margin	$416,000	$651,985	$778,984
Gross Margin %	4.21%	5.36%	5.21%
Expenses
Payroll	$178,600	$196,460	$216,106
Sales and Marketing and Other Expenses	$123,000	$130,000	$131,000
Depreciation	$2,230	$2,300	$2,400
Leased Equipment	$0	$0	$0
Utilities	$3,020	$3,100	$3,200
Insurance	$2,100	$2,130	$2,200
Rent	$2,500	$2,600	$2,700
Payroll Taxes	$32,000	$33,000	$34,000
Other	$0	$0	$0
Total Operating Expenses	$343,450	$369,590	$391,606
Profit Before Interest and Taxes	$72,550	$282,395	$387,378
EBITDA	$72,550	$282,395	$387,378
Interest Expense	$0	$0	$0
Taxes Incurred	$14,510	$56,479	$77,476
Net Profit	$58,040	$225,916	$309,902
Net Profit/Sales	0.59%	1.86%	2.07%

8.3.1 Profit Monthly

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

Pro Forma Cash Flow
Cash Received	Year 1	Year 2	Year 3
Cash from Operations
Cash Sales	$56,000	$60,480	$65,318
Cash from Receivables	$18,000	$19,440	$20,995
SUBTOTAL CASH FROM OPERATIONS	$74,000	$80,660	$87,113
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	$75,000	$82,000	$88,000
Expenditures	Year 1	Year 2	Year 3
Expenditures from Operations
Cash Spending	$34,000	$35,000	$36,000
Bill Payments	$19,000	$20,000	$21,000
SUBTOTAL SPENT ON OPERATIONS	$53,000	$55,000	$57,000
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	$0	$0	$0
Purchase Other Current Assets	$0	$0	$0
Purchase Long-term Assets	$0	$0	$0
Dividends	$0	$0	$0
SUBTOTAL CASH SPENT	$62,000	$66,960	$72,317
Net Cash Flow	$15,000	$16,000	$17,000
Cash Balance	$28,300	$29,000	$31,000

8.5 Projected Balance Sheet

Pro Forma Balance Sheet
Assets	Year 1	Year 2	Year 3
Current Assets
Cash	$284,000	$318,080	$349,888
Accounts Receivable	$25,000	$28,000	$31,472
Inventory	$4,000	$4,480	$4,900
Other Current Assets	$1,000	$1,000	$1,000
TOTAL CURRENT ASSETS	$291,000	$325,920	$366,334
Long-term Assets
Long-term Assets	$10,000	$10,000	$10,000
Accumulated Depreciation	$21,000	$23,520	$26,460
TOTAL LONG-TERM ASSETS	$29,000	$32,480	$36,540
TOTAL ASSETS	$302,100	$338,352	$380,646
Liabilities and Capital	Year 4	Year 5	Year 6
Current Liabilities
Accounts Payable	$21,000	$23,520	$26,436
Current Borrowing	$0	$0	$0
Other Current Liabilities	$0	$0	$0
SUBTOTAL CURRENT LIABILITIES	$16,800	$18,816	$21,149
Long-term Liabilities	$0	$0	$0
TOTAL LIABILITIES	$15,940	$17,853	$20,067
Paid-in Capital	$31,000	$32,000	$32,800
Retained Earnings	$56,900	$62,021	$68,223
Earnings	$202,000	$220,180	$242,198
TOTAL CAPITAL	$277,800	$302,802	$333,082
TOTAL LIABILITIES AND CAPITAL	$293,740	$338,352	$380,646
Net Worth	$310,000	$337,900	$371,690

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8.6 Business Ratios

Ratio Analysis
	Year 1	Year 2	Year 3	INDUSTRY PROFILE
Sales Growth	7.13%	7.90%	8.75%	3.00%
Percent of Total Assets
Accounts Receivable	9.20%	10.19%	11.29%	9.80%
Inventory	5.74%	6.36%	7.05%	9.90%
Other Current Assets	2.12%	2.35%	2.60%	2.40%
Total Current Assets	150.54%	152.00%	154.00%	158.00%
Long-term Assets	11.85%	11.92%	11.97%	12.00%
TOTAL ASSETS	100.00%	100.00%	100.00%	100.00%
Current Liabilities	4.67%	4.71%	4.75%	4.34%
Long-term Liabilities	0.00%	0.00%	0.00%	0.00%
Total Liabilities	7.41%	7.47%	7.54%	7.38%
NET WORTH	101.05%	101.86%	102.80%	110.00%
Percent of Sales
Sales	100.00%	100.00%	100.00%	100.00%
Gross Margin	95.22%	97.79%	100.53%	99.00%
Selling, General & Administrative Expenses	94.00%	96.54%	99.24%	97.80%
Advertising Expenses	1.65%	1.69%	1.74%	1.40%
Profit Before Interest and Taxes	41.28%	42.39%	43.58%	33.90%
Main Ratios
Current	37	38	38	32
Quick	33.4	34.6	35.465	33
Total Debt to Total Assets	0.21%	0.19%	0.18%	0.40%
Pre-tax Return on Net Worth	74.84%	75.23%	76.18%	75.00%
Pre-tax Return on Assets	93.95%	98.65%	103.58%	111.30%
Additional Ratios	Year 1	Year 2	Year 3
Net Profit Margin	32.81%	33.83%	34.88%	N.A.
Return on Equity	56.19%	57.93%	59.73%	N.A.
Activity Ratios
Accounts Receivable Turnover	7.7	7.8	7.9	N.A.
Collection Days	100	100	100	N.A.
Inventory Turnover	32.4	34.02	36.7	N.A.
Accounts Payable Turnover	16.4	16.5	16.6	N.A.
Payment Days	27	27	27	N.A.
Total Asset Turnover	2.4	2.5	2.6	N.A.
Debt Ratios
Debt to Net Worth	-0.03	-0.03	-0.04	N.A.
Current Liab. to Liab.	1	1	1	N.A.
Liquidity Ratios
Net Working Capital	$237,500	$250,800	$264,845	N.A.
Interest Coverage	0	0	0	N.A.
Additional Ratios
Assets to Sales	0.83	0.84	0.87	N.A.
Current Debt/Total Assets	1%	0%	0%	N.A.
Acid Test	28.01	28.56	29.28	N.A.
Sales/Net Worth	2.1	2.1	2.2	N.A.
Dividend Payout	0	0	0	N.A.

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