How to make Money with Turning Business Plans into Profits: A Smart Opportunity for Freelancers
Imagine getting paid thousands of dollars for writing a business plan, and you don’t even have to do all the writing yourself! By using templates or hiring others to do the work, you can turn business plan writing into a profitable business. Inspired by Glenn from gaps.com, let’s explore how you can attract clients, market your services, and make money from this opportunity.
The Business Model
Here’s the idea: you create business plans for startups. You can either offer plans for any type of business or specialize in a specific industry like salons or breweries. Starting with a niche can help you build a strong reputation before you branch out.
For example, check out liveplan.com, which has over a million customers and makes tens of millions of dollars each month by offering template-based business plans. Another example is journey.com, which charges $4,000 for a detailed 40-page business plan. Startups pay this because a solid business plan is crucial for getting investors and raising money.
Outsourcing the Work
If writing long documents isn’t your strength, you can hire freelancers to do it. Platforms like Upwork have experienced business plan writers at different price points. You might find a top-notch advisor charging $150 per hour or someone who can write a plan for $750. By outsourcing the writing for around $1,000, you can charge clients $3,000 to $5,000, making a nice profit.
Marketing Your Services
Build a Professional Website
Create a professional website to showcase your services. Look at sites like liveplan.com and journey.com for design ideas and content that speaks to your target audience. Emphasize how a well-written business plan can help secure funding and highlight your expertise.
Use Paid Advertising
Google Ads can help bring visitors to your site. Liveplan.com uses paid ads effectively for business plan-related keywords. You can do the same but focus on specific niches. For instance, targeting a keyword like "car wash business plan" might cost just $3 per click, which is affordable for attracting potential clients.
SEO Strategy
If you want to avoid paying for ads, focus on SEO (Search Engine Optimization). Write detailed articles about specific types of business plans, like those for breweries. Good SEO can help your website rank higher on search engines, bringing in organic traffic and potential clients.
Try Cold Outreach
You can also reach out directly to newly registered businesses. Websites like bizjournals.com list new businesses and their contact details. While cold calling can work, make sure to approach it professionally and respectfully to avoid being seen as spam.
By following these strategies, you can turn business plan writing into a profitable venture without having to create videos or be an expert writer yourself.
Just try it..
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