A set of freelance designer business plans will make several things clear – what the designer's capabilities are, what a sample project might look like, how long an engagement lasts, and what the end-use of the products will be. Are you designing for websites? Corporate logos? Public art installations? Knowing your limitations is important but so is upselling your abilities, so it's a sensitive issue. The best business plan should include samples of past projects and a thorough list of everything you are capable of pursuing on behalf of a client. If something is a stretch, mention partners you might be able to collaborate with on the development. Also include:
• The market targets you have – single businesspeople, large corporate clients, etc.?
• The market need that your designs fulfill
• The state of this industry
• The geographic limitations of your work, if any (is it web-based?)
• The way you will use the funding your business gets
The plan needs a market analysis that looks at the customers you'll market to and the amount of money currently being spent on services like yours. It can be helpful to analyze a few companies that appear to be very similar to yours. What are the leading freelancers offering services in your area or to your target market, can you tell? This can be a great source of pricing information and will reveal the strengths and weaknesses of your competitors. Don't forget to describe yourself in detail in a management summary section and provide enough financial data that a bank can see your projected returns and loan repayment plans. MasterPlans has worked with hundreds of design agencies and freelancers on business plans for funding. Call us to capitalize on our knowledge of how to write a great business plan: (877) 453-2011.
