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MasterPlans aims to help entrepreneurs to create and develop professional business plans. It does this through including you in the process, and then using a team of experts to research and develop a plan that will impress investors. There are several services available prior, during and after the completion of your plan, each of which offers an extra layer of detail, depending on what you need.
Once you have made a call and outlined what you need with a professional project manager they’ll get to work constructing an appropriate team who will research your market and develop financial plans and projections. This will all be written up on completion (the turnaround time can be as short as 5 days) and delivered to you. It’s hard to make any recommendations on prices as MasterPlans charges are based on your individual needs. However, given the fact that they’ve produced over 10,000 plans to date, it’s fair to assume that they’re not terribly expensive. Most of the feedback we found on MasterPlans was pretty positive, although you will find some dissatisfied customers out there who felt that the quality of the plans wasn’t always up to scratch. This is worrying, although hopefully it doesn’t happen too often. The dissatisfied customers also seem to frequently receive a full refund, so if you do find that the plan you receive does not meet your standards then there’s a good possibility that you won’t be left out of pocket.
If you already have a plan in hand then MasterPlans offers a review service. They check three key areas: is everything there? Do you financials work? Is it properly researched? Since they have delivered over 10,000 business plans and have a substantial amount of experience in reading, reviewing and writing business plans, they ought to know what they’re on about. You can also read some sample plans on the site to get an idea of what you can expect to receive, in case it is unclear. You might also use these samples to help improve your own plans prior to sending it in.
In terms of customer support, this company accepts calls, emails and in-site messages. However since it’s based in Oregon, non-US residents may prefer to email. If you do decide to have your plan produced with Master Plans then you can also opt to have it printed and delivered. They offer laminated full colour, full colour and binding. These small differences can make all the difference as a professionally printed plan that has been bound will simply seem much more professional than a plan that you’d printed on your ink jet printer at home.
What this service really lacks is the ability to be more prescriptive and to take control for yourself. Whilst you are able to have input in your discussion with the team leader, there appears to be little in the way of an editing phase, for you to check the draft and request changes. Probably this is down to the quick turnaround time, which might be useful if you need a plan in a hurry, but otherwise we think that it’s worth taking some extra time to make sure it’s perfect. As such we recommend this service for people who are looking to develop a plan quickly (perhaps you have a pitch or need to send it off within the week). The dubious quality of the end product is a slight worry, and although we understand that receiving an unsatisfactory business plan is not the norm, it is still not particularly reassuring that there are complaints around.
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