How much would you charge for a business plan?
A new prospect approached me to assist with preparation of multi year financial forecasts and a business plan in respect of a new business venture.
setting up the business will cost several hundred thousands of pounds, for some of which he requires secured bank borrowings.
He is fairly wealthy and not a "dreamer", having been in business before.
Basically he wants a fair bit of input into his business plan, and hand holding in approaching different banks for his new venture to get the best deal on the table.
I got on pretty well with him, and felt I had established some rapport.
After a fair bit of time probing his exact requirements I concluded it would take quite a few hours, so quoted £1,950 for this work. I thought this might be on the tight side, but balanced this against a new client aquisition.
However, when I phoned him to follow up, he said he had another quote for the same work of £350+VAT and would be going with that!!
No way could I have done what is required for that fee. Am I out of synch with other peoples views on this.
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