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’.

Start your Business Plan Now
Start My Business Plan

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
Business Consulting Firm Business Plan - 3 Years Profit Forecast
Franchise Business Planning 
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.

Business Consulting Firm Business Plan - Startup Cost
Start-up Expenses 
Research and Development$35,000
Expensed Equipment$48,000
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 Expenses to Fund$399,000
Start-up Assets to Fund$1,219,900
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 
Current Borrowing$0
Long-term Liabilities$0
Accounts Payable (Outstanding Bills)$43,000
Other Current Liabilities (interest-free)$0
Planned Investment$1,618,900
Investor 1$0
Investor 2$0
Additional Investment Requirement$0
Loss at Start-up (Start-up Expenses)$350,000
Total Funding$1,618,900
Any questions? Get in Touch!

    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.

    Business Consulting Firm Business Plan - Marketing Segmentation
    Valentin Marinov

    excellent work

    excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!

    ∙ Valentin Marinov

    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 CustomersGrowthYear 1Year 2Year 3Year 4Year 5CAGR
    Budding Entrepreneurs33%40,00041,00043,00044,00045,00010.00%
    Newly Established Companies29%31,00032,00033,00034,00035,00010.00%
    Old Companies & Organizations38%49,00051,00052,00054,00055,00011.00%
    Any questions? Get in Touch

    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

    Business Consulting Firm Business Plan - Sales Monthly

    6.4 Sales Yearly

    Business Consulting Firm Business Plan - Sales Yearly

    6.5 Sales Forecast

    Business Consulting Firm Business Plan - Unit Sales
    Sales Forecast   
    Unit SalesYear 1Year 2Year 3
    Technology Driven Solutions (Digital Transformations)43,00045,58048,315
    Analytics and Innovation Consulting48,00050,88053,933
    Strategy and Operations Consulting47,00049,82052,809
    Human Capital & Finance Transformation31,00032,86034,832
    TOTAL UNIT SALES169,000179,140189,888
    Unit PricesYear 1Year 2Year 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
    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 CostsYear 1Year 2Year 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 1Year 2Year 3
    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
    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
    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 1Year 2Year 3
    Plan Month123
    Current Interest Rate8.12%8.18%8.21%
    Long-term Interest Rate8.30%8.35%8.40%
    Tax Rate23.76%24.03%24.80%

    8.2 Break-even Analysis

    Business Consulting Firm Business Plan - Break-even Analysis
     Break-Even Analysis 
    Monthly Units Break-even5350
    Monthly Revenue Break-even$135,040
    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 1Year 2Year 3
    Sales$9,888,000 $12,158,285 $14,949,827
    Direct Cost of Sales$9,472,000 $11,506,300 $14,170,843
    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%
    Sales and Marketing and Other Expenses$123,000$130,000$131,000
    Leased Equipment$0$0$0
    Payroll Taxes$32,000$33,000$34,000
    Total Operating Expenses$343,450 $369,590 $391,606
    Profit Before Interest and Taxes$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/Sales0.59%1.86%2.07%

    8.3.1 Profit Monthly

    Business Consulting Firm Business Plan - Profit Monthly

    8.3.2 Profit Yearly

    Business Consulting Firm Business Plan - Profit Yearly

    8.3.3 Gross Margin Monthly

    Business Consulting Firm Business Plan - Gross Margin Monthly

    8.3.4 Gross Margin Yearly

    Business Consulting Firm Business Plan - Gross Margin Yearly

    8.4 Projected Cash Flow

    Business Consulting Firm Business Plan - Projected Cash Flow
     Pro Forma Cash Flow   
    Cash ReceivedYear 1Year 2Year 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
    ExpendituresYear 1Year 2Year 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
    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   
    AssetsYear 1Year 2Year 3
    Current Assets   
    Accounts Receivable$25,000$28,000$31,472
    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 CapitalYear 4Year 5Year 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
    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
    Any questions? Get in Touch!

      8.6 Business Ratios

       Ratio Analysis    
       Year 1Year 2Year 3INDUSTRY PROFILE
      Sales Growth7.13%7.90%8.75%3.00%
      Percent of Total Assets    
      Accounts Receivable9.20%10.19%11.29%9.80%
      Other Current Assets2.12%2.35%2.60%2.40%
      Total Current Assets150.54%152.00%154.00%158.00%
      Long-term Assets11.85%11.92%11.97%12.00%
      TOTAL ASSETS100.00%100.00%100.00%100.00%
      Current Liabilities4.67%4.71%4.75%4.34%
      Long-term Liabilities0.00%0.00%0.00%0.00%
      Total Liabilities7.41%7.47%7.54%7.38%
      NET WORTH101.05%101.86%102.80%110.00%
      Percent of Sales    
      Gross Margin95.22%97.79%100.53%99.00%
      Selling, General & Administrative Expenses94.00%96.54%99.24%97.80%
      Advertising Expenses1.65%1.69%1.74%1.40%
      Profit Before Interest and Taxes41.28%42.39%43.58%33.90%
      Main Ratios    
      Total Debt to Total Assets0.21%0.19%0.18%0.40%
      Pre-tax Return on Net Worth74.84%75.23%76.18%75.00%
      Pre-tax Return on Assets93.95%98.65%103.58%111.30%
      Additional RatiosYear 1Year 2Year 3 
      Net Profit Margin32.81%33.83%34.88%N.A.
      Return on Equity56.19%57.93%59.73%N.A.
      Activity Ratios    
      Accounts Receivable Turnover7.77.87.9N.A.
      Collection Days100100100N.A.
      Inventory Turnover32.434.0236.7N.A.
      Accounts Payable Turnover16.416.516.6N.A.
      Payment Days272727N.A.
      Total Asset Turnover2.42.52.6N.A.
      Debt Ratios    
      Debt to Net Worth-0.03-0.03-0.04N.A.
      Current Liab. to Liab.111N.A.
      Liquidity Ratios    
      Net Working Capital$237,500$250,800$264,845N.A.
      Interest Coverage000N.A.
      Additional Ratios    
      Assets to Sales0.830.840.87N.A.
      Current Debt/Total Assets1%0%0%N.A.
      Acid Test28.0128.5629.28N.A.
      Sales/Net Worth2.12.12.2N.A.
      Dividend Payout000N.A.

      Download Business Consulting Firm Business Plan Sample in pdf

      Professional OGS capital writers specialized also in themes such as home inspection business plan, home inventory business plan, rental property management business plans, property preservation business plan, hotel business plan, mortgage lender business plan and many others.