Small Business Help
The following comment/question was submitted and posted with consent:
"I am starting a small business. I have designed 7 wood products, patent pending, and plan to start this business on my own. I plan to be the only employee until I have built a customer base. That means I will be responsible for all business functions. Once I have established my business I will then hire help. I need some help planning this business and training on how to run a business on my own.
I do have some start up money but unless I find a consulting firm with reasonable prices I will be out of luck. I've talked to 2 different consulting firms. The first offered 8 4-hr training planning and training sessions. The cost was $25,000. That is $781.25 hr and there will be only one consultant working on my project. The 2nd firm quoted $19,500 for 40 hours. There would be 2 consultants working with me but that's still $237.50 hr for each consultant which means $475 hr total. Both also added travel expenses to be added at the end of the project. I can't afford $20,000 just for help starting a business. I already have other start up expenses such as tooling, materials, and will be leasing space.
Three questions: Are these prices typical? What would
your rates be? I noticed you are located in Indiana. I am in Georgia. Is
that an issue?
I'm not surprised at the quotes you were given. Consulting and training rates do vary greatly but these quotes are not at all surprising. However, no, these rates are not reasonable. Our rates would be less than half of the lowest of your two quotes, but I would like to discuss your needs before we give a quote. I can assure you that this project should not put you out $20,000 for planning and training. It would be difficult to estimate without knowing your exact needs, but I am confident we can put you on the right track without eating up your entire start-up funding.
If you read our mission and vision statements you will notice that we are far more concerned with success of the client than trying to make a quick financial killing. How would it benefit you if we charged an outrageous amount?
Traveling to your location is not an issue. There will be some travel expenses but not frivolous items. Please contact us and describe your needs and we can then discuss a reasonable quote. The important thing is that you get your business up and running. Who knows? You may eventually provide much needed jobs. That is our goal.
Contact us and we will get back with you within 24 hours.
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