HR Consulting Business plan Template
Hr consulting business plan.
You’ve come to the right place to create your Human Resources Consulting business plan.
We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their HR Consulting businesses.
Below is a template to help you create each section of your Human Resource business plan.
HR Solutions is a startup human resources company located in Spokane, Washington. The company is founded by Tremaine Jackson, a former human resources manager in a large retail company. Tremaine led a team of twenty human resources employees in overseeing all aspects of human resources for the employer and developed a unique application that he has decided to introduce in his new company, HR Solutions.
HR Solutions will be the comprehensive leader in human resource training, management, negotiations, and solutions-finding company in the state of Washington. They will provide everything human resource personnel need to hire and effectively onboard new employees, as well as everything needed to maintain proper records, effectively cover communication and employee relations, and become proactive about potential conflicts.
The following are the services that HR Solutions will provide:
- Proprietary app that creates comprehensive HR management plans
- Training to maximize personnel potential
- Assistance in compliance with laws and regulations
- Curated HR solutions to solve employee issues
- Assistance in establishing productive work environments
- Onboarding from A to Z
- “Support Cadre” for HR management personnel
- Recruitment and talent acquisition training
- Organizational process-and-procedure manual
HR Solutions will target small-to-large businesses in the Spokane, Washington region. HR Solutions will also target Washington state with select online training programs and sales of the proprietary HR app. HR Solutions will target C-suite executives in Spokane.
HR Solutions will be owned and operated by Tremaine Jackson. He recruited his former administrative assistant, Sharlene Harris, to be his Administrative Manager in HR Solutions, where she will provide oversight of all personnel and HR responsibilities within the company itself. He also recruited Mason Wright, a former associate and HR manager, to be the Senior HR Advisor within the startup; he will lead the other HR managers in their roles as client-focused solution providers.
Tremaine Jackson is a graduate of the University of Washington in Seattle, where he majored in Human Resource Development. He has been a human resources manager in a large retail company, where he led a team of twenty human resources employees in overseeing all aspects of human resources for his employer and he developed a unique application that he has decided to introduce in his new company, HR Solutions. Former clients and associates have indicated they will follow him when he establishes HR Solutions.
Sharlene Harris holds a bachelor’s degree in Business Administration from Spokane College. She has been Tremaine’s administrative assistant for ten years and her new role will be the Administrative Manager in HR Solutions. She will provide oversight of all personnel and HR responsibilities within the company itself.
Mason Wright, a former associate and HR manager, developed a large following of loyal clients. He will be the Senior HR Advisor within the startup; he will lead the other HR managers in their roles as client-focused solution providers. His clients have indicated that they will follow him into the startup business.
HR Solutions will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly-qualified team of HR Solutions
HR Solutions is seeking $200,000 in debt financing to launch HR Solutions. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph outlines the financial projections for HR Solutions.
Who is hr solutions.
HR Solutions is a newly established, full-service human resource company in Spokane, Washington. HR Solutions will be the most reliable, cost-effective, and effective choice for HR managers and leaders in Spokane. Certain online programs and the proprietary app will also be the most effective and productive options for HR personnel throughout the state of Washington. HR Solutions will provide a comprehensive menu of training, recruitment, personnel, solution-finding services for any company to utilize. Their full-service approach includes a comprehensive set of training, management, and solution options.
HR Solutions will be able to provide superior HR support and solutions to every business. The team of professionals are highly qualified and experienced in onboarding, training and creating solutions for every human resource quandary. HR Solutions removes all headaches and issues of the human resource personnel and ensures clients find the best answers to all their HR needs with the outstanding customer service found at HR Solutions.
HR Solutions History
HR Solutions is owned and operated by Tremaine Jackson. Tremaine Jackson is a graduate of the University of Washington in Seattle, where he majored in Human Resource Development. He has been a human resources manager in a large retail company, where he led a team of twenty human resources employees in overseeing all aspects of human resources for his employer and he developed a unique application that he has decided to introduce in his new company, HR Solutions. Former clients and associates have indicated they will follow him when he establishes HR Solutions.
Since incorporation, HR Solutions has achieved the following milestones:
- Registered HR Solutions, LLC to transact business in the state of Washington.
- Has a contract in place for a 20,000 square foot office space within a downtown Spokane building.
- Reached out to numerous former clients and contacts to include those who will refer and recommend HR Solutions.
- Began recruiting a staff of ten HR managers and three office personnel to work at HR Solutions.
HR Solutions Services
The following will be the services HR Solutions will provide:
The human resources industry is expected to grow during the next five years to over $35 billion. The growth will be driven by an increased number of young employees who require extensive training and onboarding. The growth will be driven by an increased need for employees as the older demographic employee retires. The growth will be driven by an increase in the number of employees who are new to the U.S. and require assistance in onboarding and training. The growth will be driven by new technological advances that are not yet known. Costs will likely be reduced as new applications, such as the one created by HR Solutions, are created and introduced into the industry.
Demographic profile of target market, customer segmentation.
HR Solutions will primarily target the following customer profiles:
- Small-to-large businesses in the Spokane region
- Small-to-large businesses throughout Washington (select programs/app)
- C-suite executives in Spokane
Direct and indirect competitors.
HR Solutions will face competition from other companies with similar business profiles. A description of each competitor company is below.
Human Resource RX
Human Resource RX was founded in 2005 by Reme and Janette Choux. As former human resource negotiators within a large firm, they developed distinctive programs that can help HR managers reduce conflicts in the workplace. In addition, the programs assist personnel in recuperating from workplace trauma and other difficulties or issues that arise in the office.
Human Resource RX, headquartered in Spokane, claims to be the “Best HR Prescription” for companies that require assistance in the form of management and oversight in trauma or difficulty. Human Resource RX also assists in compliance issues within the state of Washington, bringing expert advice into thorny issues that can potentially lead to litigation. The company has three offices throughout Washington, each with a staff of twelve “HR managers” who service local businesses. The company has maintained a good standing within the state of Washington, although there have been two separate issues of incorrect legal advice offered to clients. The matters were both brought by former clients to the court system and eventually resolved.
Premier Human Resource Associates
Premier Human Resource Associates is owned and operated by Tami Watson, an HR executive with over thirty years of experience. She is joined in the company by her daughter, Reyna Watson, a recent graduate of Spokane College, where she earned a bachelor’s degree in Communication. Premier Human Resource Associates is located in Spokane and offers an extensive onboarding and training program to support HR managers within local hospitals and medical clinics.
The bulk of services provided to HR managers includes various specific onboarding and training needs of nurses, LVNs, and other care providers. Attention is given in particular to the processes of sanitation and hygienic practices, along with the methods of communication used within these specific businesses. To date, the company has assisted in successfully onboarding over 5,000 nurses and other caregivers.
Transport HR Training
Transport HR Training was started in 1997 as a result of multiple difficult issues within the truck driving industry in Washington. In the decades since, Transport HR Training has established the full spectrum of services and products for HR associates in the long-haul and short-transport businesses. Specific practices and procedures relating to, in particular, medical issues of drivers, have been developed to smooth the HR process and align truck drivers with services they need. Transport HR Training offers a comprehensive package of services that includes negotiation in conflict, onboarding specifics, driver training, legal procedures and processes, and other truck driver-specific conditions.
HR Solutions will be able to offer the following advantages over their competition:
Brand & value proposition.
HR Solutions will offer the unique value proposition to its clientele:
The promotions strategy for HR Solutions is as follows:
Word of Mouth/Referrals
HR Solutions has built up an extensive list of clients and contacts over the years by providing exceptional service and expertise to their clients. Associates will follow them to their new company and help spread the word of HR Solutions.
Professional Associations and Networking
HR Solutions will extensively network throughout HR association and industry events. They will take an active role in leadership wherever invited to do so and will work to support the efforts of all associates or members.
HR Solutions will fully utilize their website. The website will be well organized, informative, and list all the services that HR Solutions provides. The website will also list their contact information and list their available times to make reservations during the week. This will allow HR managers to speak with HR Solutions when most beneficial to the client. The website presence will engage SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Human Resources company” or “HR near me”, HR Solutions will be listed at the top of the search results.
The pricing of HR Solutions will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.
The following will be the operations plan for HR Solutions. Operation Functions:
- Tremaine Jackson will be the Owner and President of the company. He will oversee all staff and manage client relations. He has spent the past year recruiting the following staff:
HR Solutions will have the following milestones completed in the next six months.
- 5/1/202X – Finalize contract to lease office space
- 5/15/202X – Finalize personnel and staff employment contracts for the HR Solutions
- 6/1/202X – Finalize contracts for new HR Solutions clients
- 6/15/202X – Begin networking at industry events
- 6/22/202X – Begin moving into HR Solutions office
- 7/1/202X – HR Solutions opens its office for business
Key revenue & costs.
The revenue drivers for HR Solutions are the fees they will charge to clients for their services, online training and proprietary app.
The cost drivers will be the overhead costs required in order to staff HR Solutions. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
HR Solutions is seeking $200,000 in debt financing to launch its human resources company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Clients Per Month: 40
- Average Revenue per Month: $80,000
- Office Lease per Year: $100,000
Income statement, balance sheet, cash flow statement, human resource business plan faqs, what is a human resource business plan.
A human resource business plan is a plan to start and/or grow your human resource business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your Human Resource business plan using our Human Resource Business Plan Template here .
What are the Main Types of Human Resource Businesses?
There are a number of different kinds of human resource businesses , some examples include: Human Capital Strategy, Compensation & Benefits, Talent Management, and Professional Development.
How Do You Get Funding for Your Human Resource Business Plan?
Human Resource businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Human Resource Business?
Starting a human resource business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Human Resource Business Plan - The first step in starting a business is to create a detailed human resource business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your human resource business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your human resource business is in compliance with local laws.
3. Register Your Human Resource Business - Once you have chosen a legal structure, the next step is to register your human resource business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your human resource business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Human Resource Equipment & Supplies - In order to start your human resource business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your human resource business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
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How to write a business plan for your human resources consulting practice.
Starting a HR consulting practice is a great way to leverage expertise and knowledge in the field of human resources to help businesses improve their HR operations.
It is also a great opportunity to provide valuable services to a wide range of clients and to build a successful business.
Nevertheless, the first step is to develop a business plan.
A business plan is essential for any new project, as it helps to define the goals, strategies, and resources needed to launch and grow the business. Taking the time to develop a comprehensive business plan will provide a roadmap for success and ensure the project is viable.
In short, a good business plan will help ensure the profitability of your human resources consulting practice .
What are the necessary elements for a business plan for a HR consulting practice? What components should be part of the structure? Which financials metrics should be part of it? How to build a solid business plan without spending too much time?
Stay engaged with this article as it covers all these questions and offers answers.
One last thing, you don't have to start your business plan from scratch.
Instead, you can download our customizable business plan for a HR consulting practice and adapt it to suit your business needs.
How to design a business plan for a HR consulting practice
Should you draft a business plan for your human resources consulting practice.
Yes, you should draft a business plan for your human resources consulting practice.
Constructing a sound business plan will empower you to:
- get familiar with the human resources consulting market
- understand what are the new trends on this industry
- establish what makes a HR consulting practice profitable
- understand companies' HR challenges and objectives to offer strategic HR solutions and support
- come up with a great value proposition for your HR consultancy
- monitor competitor partnerships and alliances
- find relevant competitive advantages for your human resources consulting practice
- find a business model that fosters long-term financial sustainability
- implement a well-crafted and strategic action plan for growth
- evaluate risks related to operating a HR consulting practice, including client expectations, employment law compliance, and data privacy
Our team has created a business plan for a HR consulting practice that is designed to make it easier for you to achieve all the elements listed.
How to structure a business plan for a HR consulting practice?
Inside a business plan, you'll discover a wealth of essential information and details. It needs to be organized so that it can be easily read and understood.
When we built our business plan for a HR consulting practice , we took care to arrange it appropriately.
The business plan has 5 sections (Opportunity, Project, Market Research, Strategy and Finances).
1. Market Opportunity
The section number one is called "Market Opportunity".
This section presents a comprehensive report on the human resources consulting practice, including key data and metrics to guide your decision-making process.
The data here is always fresh; we update it twice a year.
2. Project Presentation
In the "Project" section, you can outline your human resources consulting practice, detailing the range of HR services you offer, expertise in talent acquisition, employee training and development, HR policy implementation, organizational culture building, and the unique value proposition that supports businesses in managing their human capital effectively.
At the end of this section, provide a brief self-introduction.
Explain your qualifications in human resources, your expertise in HR consulting, and how you plan to provide strategic HR solutions to businesses. Highlight your knowledge of HR best practices, your experience in talent acquisition and management, and your dedication to partnering with organizations to optimize their human capital and drive organizational success through effective HR strategies.
In our business plan, you will see that we've provided you with pre-written content. Adjust it to match your idea exactly.
3. Market Research
Then, there is the "Market Research" section.
In this section, you will find a detailed market segmentation analysis for your human resources consulting practice.
It includes a presentation of other HR consulting firms in the industry that will be competing with you. Your practice's specialized HR solutions and competitive advantages are also highlighted. A customized SWOT analysis is included.
Within the "Strategy" section, you'll discover a detailed plan spanning three years, outlining the necessary actions and initiatives to make your human resources consulting practice highly profitable.
Furthermore, there is a marketing strategy, a risk management plan, and a Business Model Canvas that has been filled out, all included in this section.
Finally, you'll arrive at the "Finances" section, where you can present the financial details and data related to your project.
How to make the Executive Summary for a HR consulting practice?
The Executive Summary serves as a compact introduction to the business plan of your human resources consulting practice.
Don't exceed 2 pages; prioritize the most essential elements in your document.
The objective of this document is to spark interest in the reader's mind about your business plan.
In the Executive Summary of your human resources consulting practice, provide responses to the following: what services does your HR consulting practice offer? who is your target market? are there other HR consulting firms competing with you? how do you set yourself apart from them? how will you allocate the requested funding?
How to do the market analysis for a HR consulting practice?
The market study of your human resources consulting practice enables you to grasp external factors such as client demands for HR services, competition in the HR consulting industry, and emerging trends in HR practices.
By conducting a comprehensive market analysis, a HR consulting practice can understand client HR needs, offer expert HR solutions, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a larger client base, increased service contracts, and a prominent position in the HR consulting industry.
Here is what what we've put in the "Market Research" section of our business plan for a HR consulting practice :
- fresh and updated data and statistics about the human resources consulting market, including HR trends, talent acquisition, and workforce management
- a list of potential market segments for a HR consulting practice
- the competitor evaluation
- the competitive advantages for a HR consulting practice
The key points of the business plan for a HR consulting practice
What's the business model of a hr consulting practice, business model of a hr consulting practice.
A human resources consulting practice's business model revolves around offering HR solutions, talent management, or HR advisory services to businesses. Revenue is generated through consulting fees or retainer contracts.
The business model focuses on understanding client HR needs, providing customized HR strategies, delivering HR compliance and training programs, effective marketing to target businesses in need of HR support, and building strong client relationships based on expertise and trusted HR guidance.
Success depends on HR knowledge and certifications, delivering tangible HR outcomes, maintaining updated knowledge on HR regulations and best practices, fostering positive client relationships, and providing reliable and responsive HR consulting services.
Business model vs Business plan
Business plan and "business model" are not interchangeable, so be careful.
A business model shows how a company operates and turns a profit.
In a business plan, you incorporate the Business Model Canvas as a clear-cut method to outline how your business generates value.
And, of course, there is a Business Model Canvas (already completed) in our business plan for a HR consulting practice .
How do you identify the market segments of a HR consulting practice?
Segmenting the market for your human resources consulting practice involves dividing your potential clients into different groups based on their HR needs, industries, and organizational size.
These categories may include factors such as talent acquisition and recruitment, employee training and development, HR compliance, or clients from specific industries.
By segmenting your market, you can offer specialized HR consulting services and solutions that cater to each segment's specific requirements. For example, you might provide recruitment services and strategies for companies seeking top talent, offer customized employee training and development programs, specialize in HR compliance and regulatory consulting for specific industries, or provide comprehensive HR solutions for small and medium-sized businesses.
Market segmentation allows you to effectively target your marketing efforts, showcase your expertise in specific HR areas, and deliver tailored and impactful HR consulting services that meet the unique needs of each client segment.
In the business plan for a HR consulting practice , you will find a comprehensive market segmentation that will help you identify your potential customers.
How to conduct a competitor analysis for a HR consulting practice?
It's clear that you won't be the only human resources consulting practice in the industry. There are other firms providing HR solutions and guidance to businesses.
Your business plan should feature a comprehensive competitor analysis, evaluating their characteristics, strengths, and weaknesses.
Identify their weaknesses (such as ineffective talent acquisition strategies, inadequate employee training programs, or poor HR advisory services).
Why should you pay attention to these points? Because these weaknesses can hinder the effectiveness of human resources consulting practices. By addressing these aspects, you can provide strategic HR solutions, offer tailored training and development programs, and deliver personalized consulting services, positioning your practice as a trusted partner for organizations seeking to optimize their HR processes and enhance employee engagement.
It's what we call competitive advantages—invest in cultivating them for a standout business.
Here are some examples of competitive advantages for a HR consulting practice: deep HR expertise, customized HR solutions, comprehensive HR services (recruitment, training, compliance), strong industry network, trusted HR advice and guidance, track record of successful client partnerships.
How to draft a SWOT analysis for an HR consultant?
A SWOT analysis can be used to identify strengths, weaknesses, opportunities, and threats to help inform a successful strategy for starting a HR consulting practice.
As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a HR consulting practice
The strengths for a HR consulting practice
When we mention the "S" in SWOT, we're referring to Strengths, which are the project's internal advantages or unique qualities.
For a HR consulting practice, potential strengths include expertise in the field, strong communication skills, the ability to provide tailored solutions, and a proven track record.
The weaknesses for a HR consulting practice
When we talk about the "W," we're talking about Weaknesses, which are the areas or aspects of the project that could benefit from refinement.
For a HR consulting practice, potential weaknesses could include lack of industry experience, limited resources, inadequate technology, and lack of client referrals.
The opportunities for a HR consulting practice
When we refer to the "O" in SWOT, we're referring to Opportunities, which are the external prospects or possibilities that can contribute to the project's growth.
In the case of a HR consulting practice, potential opportunities could include providing services such as recruitment, employee engagement, organizational development, and compensation and benefits consulting.
The threats for a HR consulting practice
T represents Threats in SWOT, highlighting the external risks or vulnerabilities that the project needs to be cautious about.
How to elaborate a marketing strategy for an HR consultant?
Implementing a marketing strategy allows entrepreneurs to build brand awareness and establish a strong brand identity.
An HR consultant can connect with businesses in need of professional HR services and guidance by implementing an effective marketing strategy that emphasizes the consultant's expertise in HR practices, tailored solutions, and positive impact on company performance.
Companies won't seek your HR consultant services without proper promotion; emphasizing your expertise in human resources, customized solutions, and successful client outcomes is crucial.
Have you explored marketing approaches to attract clients to your HR consulting services? Consider offering free HR resources or whitepapers on your website, attending HR industry conferences or networking events to connect with potential clients, and utilizing digital marketing strategies to increase your online visibility.
If you're struggling with ideas for your project's marketing strategy, don't worry – it's perfectly normal.
How to build financial projections for an HR consultant?
A solid business plan must include detailed financial information such as projected income, expenses, cash flow, and balance sheets.
As part of your business planning process, you'll be required to predict the revenue for your human resources consulting practice.
A relevant and credible revenue forecast is vital for your business plan to appear solid when read by investors.
Our financial plan for a HR consulting practice is designed to be user-friendly, incorporating automatic verifications that assist in identifying and correcting any assumptions. This ensures you can build credible projections with confidence.
It goes without saying that you should create a preliminary budget for launching your human resources consulting practice. Don't overlook any expense. By the way, we've listed them all in our financial plan!
The break-even analysis is central in the financial plan as it will tell you whether your human resources consulting practice will be profitable or not.
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- Building Your Business
- Becoming an Owner
- Business Plans
Management and Human Resources Business Plans
The management portion of your business plan, the hr portion of your business plan, frequently asked questions (faqs).
As a startup, it’s never easy to come up with a business plan, let alone the management and human resources sections of a business plan. Despite that, it’s important that you start your business plan for human resources as soon as possible. Doing so gives your management goals a plan that will guide you and keep your business on track as it grows.
The key components of your human resources business plan should include your organizational structure, the philosophy and needs of your HR department, the number of employees you want to hire, how you plan to manage them, and all the estimated costs related with personnel.
You’ll want to start your HR business plan by outlining your own managerial experience and skills as well as those of your team. Highlight the roles of each member of your team, and any particular areas of strength or deficiency in your personnel lineup. For example, your HR team may be strong in compliance and conflict resolution but weak in hiring.
Don't worry if you don’t have a complete team in place when you write your HR business plan. Simply use this section to outline the organizational structure along with job descriptions, how you plan to recruit key team members, and what their responsibilities will be.
This section should look like a pyramid with you at the top and will likely have lateral positions. Be as specific as possible when defining an employee's responsibilities because this is what will drive your business.
Do You Need an HR Manager?
If you’re a solo practitioner, you may not think of including an HR manager in your management business plan. However, if you expect to hire non-managerial employees (such as salespeople or clerical workers), you should consider recruiting a human resources manager.
If hiring a human resources manager can’t be done, consider a human resources consultant. Human resource management requires an immense amount of time and paperwork, and an experienced HR consultant will be able to quickly get your payroll and benefits program up and running, affording you more time to concentrate on growing the business. Human resource responsibilities should include:
- Handling FICA and unemployment taxes and paperwork
- Ensuring compliance with the Family and Medical Leave Act
- Staying on top of IRS filings
There are plenty of companies that offer HR management platforms tailored to each business's needs. Research these companies and be sure to include their estimated cost in your HR business plan.
When you develop the HR portion of your business plan, begin by including a brief overview of your HR strategy. Investors may be curious about how your payroll will be handled and the associated costs of administering it, as well as the type of corporate culture you plan to create. Specific items to highlight in the HR section include:
- Payscale: Show the salaries for managers and non-managers based on the market for those jobs.
- Vacation time: Describe your vacation-time policy. How much time do employees get? How quickly does it accrue? Vacation time is not required by law, but most firms offer vacation time to stay competitive and keep employees refreshed.
- Insurance: Health insurance is a common staple benefit, although skyrocketing prices have forced many firms to cut back on this benefit. If you can’t afford a health plan, look into subsidizing one with employees paying the rest. Alternatively, inquire if a professional insurance representative can help you get a bulk rate.
- Additional benefits: Other things to consider include life insurance, a 401(k) and matching funds, bereavement leave, religious and floating holidays, and a bonus structure, if applicable.
In addition to the key elements above, it helps to have a framework from which to build your HR business plan. Here’s a basic outline that can help you get started:
- Figure out what your human resources department would need.
- Determine a strategy for recruiting talent.
- Formulate your hiring process.
- Develop a training program for new employees.
- Determine how much you want to pay your team (this is a good spot for payscale info)
- Create performance standards
It may be overwhelming to contemplate these benefits and their costs in the early stages of setting up your business, but in a competitive labor market, your firm needs to offer enough to entice qualified people and, more importantly, to keep them happy.
Consider revisiting your management and HR business plans every couple of years to see if you need to create action steps to refine your processes.
What should be in an HR business plan?
An HR business plan should include a mix of the steps you plan to take to launch an effective HR department, as well as specifics about how you plan to handle time off, insurance, and other benefits you plan to offer.
How do I write a human resources plan?
It helps to start with a simple framework. Try to break the plan down into sections: HR needs, recruitment, hiring, training, pay, and performance reviews. From there, incorporate other aspects of HR, like benefits and promotions.
U.S. Chamber of Commerce. " Does Your Small Business Need an HR Department? "
University of Minnesota. “ Human Resources Management: 2.2 Writing the HRM Plan .”
Mecklenburg County, North Carolina. “ FY 2020-2022 Strategic Business Plan: Human Resources .”
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Consulting Business Plan Template
Written by Dave Lavinsky
Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their consulting businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a consulting business plan template step-by-step so you can create your plan today. It can be used to create a business consulting business plan, a management consulting business plan or any other type of consultancy business plan.
Download our Ultimate Consulting Business Plan Template here >
What Is a Consulting Firm Business Plan?
A business plan provides a snapshot of your consulting firm as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why You Need a Consulting Firm Business Plan
Source of Funding for Consulting Firms
With regards to funding, the main sources of capital raising for a consulting business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.
The second most common form of funding for a consulting business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.
Finish Your Business Plan Today!
Sample consulting business plan template.
Your business plan should include 10 sections as follows:
The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of consulting business you are operating and the status; for example, are you a starting a consulting firm, or do you have a consulting business that you would like to grow?
Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the consulting industry. Discuss the type of consulting business you are operating. Detail your direct competitors. Give an overview of your target market. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.
In your company analysis, you will detail the type of consulting business you are operating.
For example, you might operate one of the following types:
- IT Consulting : this type of consulting business designs custom software, plans for IT system infrastructure, and/or manages computer systems and data processing facilities.
- Management Consulting : this type of consulting business provides advice to businesses, nonprofits, and agencies in various areas such as corporate strategy, marketing, organizational design, etc.
- Environmental Consulting : this type of consulting business provides advice on environmental issues such as pollution, hazardous materials, etc.
- Human Resources Consulting : this type of consulting business provides advice for structuring HR and personnel policies, employee benefits, compensation, recruitment, and retention
- Other Business Consulting : there is nearly a limitless number of areas in which people need and will pay for consulting services
In addition to explaining the type of consulting business you operate, the Company Analysis section of your business plan needs to provide background on the business.
Include answers to questions such as:
- When and why did you start the business?
- What milestones have you achieved to date? Milestones could include sales objectives, sales goals you’ve reached, new office openings, new products, etc.
- Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.
While this may seem unnecessary, it serves multiple purposes.
First, researching the consulting industry educates you. It helps you understand the market in which you are operating.
Secondly, market research can improve your strategy particularly if your research identifies market trends.
The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.
The following questions should be answered in the industry analysis section of your consultant business plan:
- How big is the consulting business (in dollars)?
- How big is your niche (e.g., management consulting) within the consulting business (in dollars)?
- Is the market declining or increasing?
- Who are the key competitors in the market?
- Who are the key suppliers in the market?
- What trends are affecting the industry?
- What is the industry’s growth forecast over the next 5 – 10 years?
- What is the relevant market size? That is, how big is the potential market for your consulting firm? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.
The customer analysis section of your consulting business plan must detail the clients you serve and/or expect to serve.
The following are examples of customer segments: Corporations, Federal Government, Nonprofits, Consumers, etc.
As you can imagine, the customer segment(s) you choose will have a great impact on the type of consulting business you operate. Clearly, nonprofit organizations would want different pricing and service options and would respond to different marketing promotions than the federal government.
Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the business sizes and types, or consumer ages, genders, locations, and income levels of the clients you seek to serve.
Psychographic profiles explain the wants and needs of your target audience. The more you can understand and define these needs, the better you will do in attracting and retaining your clients.
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Direct competitors are other consultants and consulting firms.
Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes doing it themselves and in-house expertise among others. You need to mention such competition to show you understand that not every company or consumer engages a consultant.
With regards to direct competition, you want to detail the other consulting businesses with which you compete.
For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:
- What types of customers do they serve?
- What services do they offer?
- What is their pricing (premium, low, etc.)?
- What are they good at?
- What are their weaknesses?
The final part of your competitive analysis section is to document your areas of competitive advantage. For example:
- Will you provide superior services?
- Will you provide services that your competitors don’t offer?
- Will you make it easier or faster for customers to engage your services?
- Will you offer better pricing?
Think about ways you will outperform your competition and document them in this section of your plan.
Product : in the product section you should reiterate the type of consulting business that you documented in your Company Analysis. Then, detail the specific consulting services you will be offering. For example, in addition to IT infrastructure consulting, will you also offer an IT Security component?
Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the consulting services you offer and their prices.
Place : Place refers to the location of your consulting business. Document your location and mention how the location might impact your consulting success. For example, maybe your consulting business is located in an office complex with lots of potential clients.
Promotions : the final part of your consultant marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider as a consultant:
- Pay-per-click keyword advertising
- Providing seminars or keynote presentations
- Advertising in local papers and magazines
- Reaching out to local bloggers and websites
- Social media advertising
- Local radio advertising
While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.
Everyday short-term processes include all of the tasks involved in running your consulting business such as serving clients, prospecting new clients, procuring supplies, keeping the office clean, etc.
Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th client, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or open a new location.
Ideally, you and/or your team members have direct experience in the consulting business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.
If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in consulting businesses and/or successfully running small businesses.
An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.
In developing your income statement, you need to devise assumptions. For example, will you serve 5 clients per month or 25? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.
While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your consulting business, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.
Cash Flow Statement
Your cash flow statement will help determine how much money you need to start or grow your business and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.
In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a consulting business:
- Location build-out including design fees, construction, etc.
- Cost of maintaining an infrastructure (i.e. data warehouse, database subscriptions, etc.)
- Payroll or salaries paid to staff
- Business insurance
- Taxes and permits
- Legal expenses
- Other expenses
Attach your full financial projections in the appendix of your plan along with any supporting documents that make your consulting business plan more compelling. For example, you might include your office design blueprint or location lease.
Putting together a business plan for your consulting firm is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the consulting business, your competition, and your prospective clients. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful consulting business.
Consulting Business Plan FAQs
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Other Helpful Business Plan Articles & Templates
HR Business Plan Template: Everything You Need to Know
With an HR business plan template, you can help your company recruit new employees, retain existing employees, and guide the development of the workforce. 4 min read
With an HR business plan template, you can help your company recruit new employees, retain existing employees, and guide the development of the workforce so that you collectively meet your business objectives, regardless of any changes in the industry or economy.
When creating your HR business plan, you need to perform a needs analysis of your workplace to tailor the plan to your company's requirements. You'll also need to learn about the industry standards for your field to make sure you're competitive.
Without such a plan in place, your workers will feel unprepared and won't know how to work towards your company's overall goals.
Steps for Developing a Human Resources Department Business Plan
There are several steps to creating an HR business plan. They include:
- Clarify the requirements . While you might be tempted to create a detailed plan that encompasses the entire company's next 10 years, hold off. Always talk with your boss to see how much detail he or she would like in the plan. This will save you time and help streamline the process. However, there's no harm in creating your own personalized strategic plan for your specific department.
- Read through the HR job descriptions . The HR department typically has employees such as HR assistants, HR generalists, and an HR director . Read through the job descriptions for each worker in the department and see what kind of duties are missing. Brainstorm additional functions that each job role could provide to the company.
- Curate your list . Take the different functions you've brainstormed and compare them to what each member of the HR department is already doing. Are there functions you could add or subtract from each employee for more productivity? You don't have to go into detail here, but just think about how you could improve each role.
- Schedule a meeting with the executives . Before you make any changes, you'll obviously need to get input and approval from the company's executives. They may have more feedback on how the HR department can provide additional services and support the company's overall goals and mission.
- Create a feedback form . Come up with a list of questions to ask leadership about HR's role in the company and provide it to them in advance of the meeting so they have time to think it over and talk with their staff. You may even want to provide a rating and ranking format for the questions, as this will make their responses easy to understand and implement. Overall, this is a key process to understanding what management and employees want and need from the HR department.
- Look at external resources . While the internal information you're collecting is the most important, it also doesn't hurt to take a look at data from professional organizations and websites, such as the Society for Human Resource Management , The Balance , or HR Magazine . You can also ask colleagues from other local organizations for tips on creating your business plan.
- Use this information to make a plan . With your ideas, feedback from executives, and tips from external resources, you should have a clear idea of what your plan should look like. The things that are missing from the HR department should now be clear, and this should guide you on what to focus on to improve HR's contribution to the company.
- Identify goals for this year and next . While your plan can have long-term goals, keep the majority of them a little bit shorter in scope to see how things work out. This gives you the chance to reorganize and restructure if things aren't going right. Consider creating a list of accomplishments you can reach for the end of this year and into the next.
A Real Life Example
If you're seeking more guidance on how to create a successful HR business plan, look to Starbucks as an example.
As the world's largest coffee chain, Starbucks had $21.3 billion in sales in 2016.
Despite these massive numbers, Starbucks maintains the same approach to their human resources department. All of the HR planning is guided by the company's organizational strategy and brand.
Their strategy is to use specific interview techniques when hiring new employees. This lets them identify potential leaders and place them in a "New Partner Orientation and Immersion" training program. With this system, Starbucks has achieved the lowest employee turnover rate in the quick-service restaurant industry.
Starbucks also offers numerous employee perks and dedicates a lot of time to employee training through an online portal that teaches employees essential job skills.
If you need help with your HR business plan template, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.
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8+ SAMPLE HR Consulting Business Plan in PDF
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1. determine the preferred style of business, 2. create an hr consulting business plan, 3. plan the possible cash flow statement, 4. start building connections in the industry, 5. develop a sales and marketing plan for the startup, 6. begin to build business presence online, share this post on your network, you may also like these articles, 27+ sample individual learning plan in pdf | ms word | google docs | apple pages.
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Human Resources Consulting Business Plan
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Human Capital Maximizers
Market analysis summary how to do a market analysis for your business plan.">.
Emerging companies will be the target market for several reasons:
- They are in need of HR services as they are growing rapidly.
- They often do not have a large enough in-house solution as they are increasing in size.
- Capital is a scarce resource for emerging companies so the ability to accept stock options in replace of cash is appealing.
The emerging company market can be further broken down into two categories, technology and non-technology. The significance of the breakdown is not that significant because many of the networking activities are occurring in settings that do not differentiate between technology and non-technology.
4.1 Market Segmentation
Human Capital Maximizers market can be segmented into two different groups, emerging high-tech companies and emerging non-high tech companies. The emerging high-tech companies are going to be the larger of the two segments. Even with the Internet bubble bursting within the last year, there are still many different emerging high-tech companies proliferating. This is evidenced by the Business Journal of Portland which in their annual list of fastest growing companies for this year, 18 of the top 25 were technology companies.
There are also non-technology companies that are emerging in the Portland area and Human Capital Maximizers will be able to serve them as well.
4.2 Target Market Segment Strategy
Human Capital Maximizers’ two markets will be primarily targeted through networking activities. Some networking will be conducted through the Oregon Entrepreneur Association, an association that supports entrepreneurial ventures in the local area. This organization has monthly meetings that are in round-table format, allowing members to socialize.
Human Capital Maximizers will also be networking from personal/professional contacts that Major has developed professionally in the last five years in the HR/start-up industry. HCM will also be relying on word of mouth to grow its customer base.
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Sample HR Consulting Business Plan PDF [Template]
Human resources consulting business plan sample.
In a bid to start an HR consulting firm, all areas of your operations must be figured out. The only way to get this fully worked out is through your plan. Your plan organizes your entire business which in turn promotes productivity and growth.
It is necessary to note that not all plans lead to success. Badly written plans won’t do much in helping a business grow.
It’s because of this that we’ve written this sample HR consulting business plan. This guides while serving as a template to enable you to figure out the process.
Alpha Consult is an HR consulting company located in Albuquerque, New Mexico. We specialize in a variety of hr related services such as drafting policies, training & development, recruitment , and organizational structuring just to name a few.
The demand for our services places us in a strategic position to further expand and improve on our service delivery. We are located at the heart of Albuquerque’s business district and provide hr services to businesses and clients from different industries.
Our focus is mainly on providing far-reaching solutions and paying close attention to client needs. As a forward-looking business, we are paying close attention to shifting trends in a bid to adjust our services to cater to emerging needs.
Products and Services
We are specialists in HR consulting and offer a variety of services. These range from vendor management, management training, recruitment, and payroll administration .
Other services include benefits administration, employee and labor relations management, and organizational structuring.
We’re also involved in constant research on new trends of hr consulting to ensure we’re always top of our game. Our goal and desire are to provide exceptional services to clients that surpass their expectations.
At the Alpha consult, we seek to become the go-to hr services provider. Becoming the preferred hr consulting company will come with a lot of work which we’re committed to. We hope to break into the top 5 hr consulting businesses in New Mexico within 5 years.
We are a business that seeks to improve the way business is done.
By guaranteeing efficiency, we hope to be drivers of transformation and growth within the world of business. We are aware of stiff competition within the industry and will be adopting innovative approaches towards making our business more competitive.
We have been in operation for the past 5 years and are ready to take on the first phase of our expansion plans. This will result in the creation of more offices across multiple locations within and beyond Albuquerque.
Our expansion drive will require the injection of additional funds to the tune of $1,500,000.00.
Out of this amount, we’ll be providing about 50% of the amount. The remaining half will be sourced from a loan facility through ABC bank at a yearly interest rate of 5%. This amount will be used to pay for renting office spaces, purchase of office equipment as well as running costs.
One of the things we’ve sought to find out about our operations is how well we’ve performed thus far. A SWOT analysis was carried out to examine key areas. The results obtained have been more than revealing and show areas we need to improve upon. The following are findings made;
Our operations as a business have been strengthened by the caliber of professionals under our employ. These are trusted hands that have demonstrated immense professionalism in providing consulting services.
Our employees come with different specializations that contribute to the smooth running of our hr consulting business. Such specializations include employee assistance plan managers, human resources information system analysts, and employment, recruitment & placement specialists.
Others include training and development specialists, and compensation & benefits managers among others. These are highly experienced experts that offer a wide range of vital services, thus helping our business grow.
Areas of weakness have also been identified in the way we do business. Such weaknesses include the size of our clientele and our area of coverage. These two are related and will require breaking into the big league. To ensure we attract big clients, we are expediting action on our expansion and marketing plans.
As more businesses outsource their hr consulting needs, we are well-positioned to take advantage of them. We have also created a system that encourages repeat patronage and referral. This relies on the provision of excellent and world-class consulting services.
The amount of money being set aside by businesses to improve their human resource management tasks and decisions has improved significantly. This presents a unique opportunity for our business to flourish by providing corresponding excellent services that guarantee growth for our clients.
Economic recession halts and badly affects the growth of businesses. In many cases, such businesses go bust. This points to one thing; a drop in demand for our services. Although this isn’t a frequent occurrence, we’re preparing for such events to ensure it doesn’t take up unawares.
Sales generation is central to the success of our operations. The more clients we have, the better it impacts our operations. With our current expansion drive being implemented, we hope to see a marked improvement in our revenue generation.
We’ve carried out a projection of sales from the time the expansion drive is fully implemented to the third year. The results obtained have been encouraging as summarized below;
- First Fiscal Year $400,000.00
- Second Fiscal Year $950,000,00
- Third Fiscal Year $2,500,000.00
HR consulting is a highly competitive industry that requires the adoption of cutting-edge strategies to promote growth. We’re doing just that by using using the latest technology and tools to impact positively on our operations.
We are also investing in the training and retraining of our workforce to ensure they keep up with the best practices within the industry.
There you go! This hr consulting business plan sample can be used in a variety of ways to improve your plan.
Writing a business plan for your consulting business shouldn’t be rushed. You should take as much time as you need to piece together a solid plan. This will guarantee success.
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HR Consultant Business Plan Template
Do you want to start HR Consultant business plan?
Are you thinking about starting an HR consultant business? If so, it is a great idea. That’s because you can start an HR consultant business with very few resources and a small team. Afterward, you can extend it to whatever size you want. But the start is relatively easier as compared to other businesses.
The first step in learning how to start HR consulting business is to write a good business plan for your idea.
You can write an HR consultant business plan yourself. Or you can hire business plan writing services . If you want to write the plan yourself, you can just follow the HR consultant business plan mentioned here.
2.1 the business.
Dillinger HR Consultants will be an HR consultancy company started and owned by Riley Dillinger. The company’s primary aim will be to provide consultations to its clients about the management and procurement of their HR resources in Portland, Oregon. The range of services offered will vary from recruitment and training to payroll management for different clients.
2.2 Management of HR Consultant Company
When starting a human resource consulting firm, you need to ensure that all your resources are well-managed and utilized. You can do this through a business plan strategy . You can do an HR consultancy industry overview to understand what resources you will need to start your company.
The best portfolio of an HR consultant for small businesses and big ones is competent management of his own business. So, if you want to learn how to start an HR consulting firm, take guidance from this plan and others like business consulting business plan , etc.
Here, we are providing all the necessary details of Dillinger HR Consultants so that you can take help for developing your business plan.
2.3 Customers of HR Consultant Company
Our customers will belong to almost all work domains as professional cleaning and maintenance are required by all. However, our potential and recurring customers are identified as follows:
- HR Directors
- Small/ Medium Businesses & Work Councils
- Internal Consulting Departments
- Training Facilities
2.4 Business Target
Our target is to become a reliable source of HR consultancy and issue resolution to our clients when they need assistance.
Our financial targets for the first two years of our launch are shown below:
3.1 company owner.
Riley Dillinger will be the owner of Dillinger HR Consultants. She completed her MBA two years back and worked for an administration firm after graduation. To pursue her dream of starting her own business, she decided to leave her job and start the Dillinger HR Consultants.
3.2 Why the HR Consultant company is being started
In her previous job, Riley had a lot of exposure to various types of organizations ad companies at every scale. She realized that a lot of companies struggle with their human resource department. And more prominent consultancy companies cannot offer services catered to each company. She realized that she could solve this issue by starting as an HR independent consultant and then extending the business to a startup HR consultancy.
3.3 How the HR Consultant company will be started
Step1: Plan Everything
When learning how to start an HR consultancy company, you will find that developing an HR consulting business plan template is vital. For this, you can refer to different business plans available on the internet like counseling practice business plan , etc.
Since Riley decided to start small and expand her business from there, this HR consulting business model is suitable for those who are just beginning and those looking to expand their business.
Step2: Define the Brand
The next step is to showcase your unique values and services to your customers. It is called developing a brand. And it helps a business stand out from its competition. Any good business plan, whether it is a life coaching business plan or a mortgage lender business plan , includes the necessary details about developing the brand.
Step3: Establish Your Corporate Office
To start her business, Riley decided to rent out a space in an office building in Portland. Her next step will be to hire sufficient staff to launch her company.
Step4: Establish a Web Presence
Riley knew the importance of social media and online networking in the success of a business. So she decided to establish social media profiles for the company and also get a website developed. It will help her expand her reach and allow her customer to contact her from anywhere, at any time.
Step5: Promote and Market
The final step is to develop a marketing plan and execute it for the promotion of the business.
Starting your own HR consulting business is all about planning. You need to decide on the services that you will provide to your clients. A good idea about the scope of your services will help you to plan your business. It will also help you create the HR consulting services business plan.
To understand how services are presented in a business plan, you can take a look at an HR consulting business plan sample or something related, like a staffing company business plan .
Riley decided to limit her company’s services at the beginning but expand them later on. Therefore, this sample HR consulting proposal is suitable for developing the business plan for any company. It doesn’t need to be related to business HR consulting. It can even be a courier services business plan . You can easily take help from here.
- Policies Development
One of the significant services of Riley’s HR Consultants will be to help companies in the development and streamlining of their policies. It can include things like:
- Disciplinary Conduct
- Workplace Violence, etc.
- Recruitment Operations
We will also offer recruitment aid services to our clients. It can include providing our clients with part-time or full-time employees. We will take care of the whole process, from sourcing to staff induction. Or we will just match our clients with an appropriate employee pool that they can choose from.
- Provision of Contract Staff
Contract Staffing is a brilliant solution for many services. We will help our staff in temporary staffing with limited-time contracts where the employees can immediately meet the client’s needs.
- Training and Development
Productivity and efficiency are key terms that are used by every business, big and small. We will help our clients take this idea from an abstract realm to reality by helping them in developing training plans for maximum efficiency.
- Performance Management
Riley’s HR Consultants will also help people develop and implement robust performance management systems so that their employees attain maximum productivity and attain their goals faster.
Marketing Analysis of HR Consultant Company
For starting a HR consultancy, you need to have an in-depth knowledge of your customers and competition. You can gain this insight through a marketing analysis. These are a part of business plan for HR consulting firm. It will give you an idea of how to price and market your services.
excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!
A good marketing analysis of HR marketing consultants should include all past, present, and future market predictions to run the business accordingly. These analyses form an essential part of any HR consulting proposal example. And these, together with the financial goals of the company, determine how to start an HR consulting business and how to run it.
5.1 Market Trends
According to IBISWorld, HR consulting services in the US have a market valued at $24 Billion as of 2021. And the market is expanding at a rate of 5.8% every year. It means that more and more companies are demanding assistance to develop and improve their human resource departments. Many businesses are looking for temporary contract human resource provision, and starting an HR consultancy firm is a great way to take advantage of this market.
5.2 Marketing Segmentation
The customers of Riley’s HR Consultants are categorized into the following groups:
5.2.1 HR Directors
Our main clients will be the HR directors and managers of different companies. Our HR advisors will help them improve the human resource functions in each department and the entire company. This group is expected to require our services frequently throughout the year.
5.2.2 Small/ Medium Businesses & Work Councils
Our second biggest clients will be small and medium-sized businesses and work councils. Our consultants will help them in solving human capital problems of various scopes. These may include providing HR support, managing cultural transformations and developing management strategies, etc.
5.2.3 Internal Consulting Departments
Our consultants will also regularly work with internal consulting departments of companies to ensure proper human resources are available for the ongoing project. These clients are expected to avail of our services quite often.
5.2.4 Training Facilities
One of the aims of Riley HR Consultants is to make companies self-sufficient. In that respect, we will also provide training seminars and plans catered for our customers. Our smaller clients are expected to utilize the most to make their startups more efficient.
5.3 Business Target
- To become the most sought out HR consultants in Portland, Oregon.
- To expand the range of our offered services with passing time and increase the area of our approach.
- To earn a net profit of $50k per month by the end of our third year.
- To have around two dozen regular clients, 5 of which need to be big guns.
- To maintain a customer satisfaction score above 90%.
5.4 Product Pricing
Our prices will be a little higher as compared to our competitors. But we will offer a more excellent range of services for that price along with 24/7 customer support. We will also ensure that our clients have access to our on-site services whenever they require them.
To make your name in a bustling industry, you will need a marketing plan. In fact, it is one of the most crucial parts of learning how to set up an HR consulting business.
You can find examples of marketing analysis in any HR consulting business plan template. In this business plan HR consulting, we are providing the sales strategy for Riley’s HR consultants so that more and more people will pay attention to the business.
6.1 Competitive Analysis
- Our clients can contact us at any time through our website or social media. They can also use our provided contact numbers to connect with our support systems.
- We will establish solid customer care services to maintain good relationships with our clients.
- We will also take feedback from our clients to make necessary changes and deal with our customers in the best possible manner each time they hire us.
6.2 Sales Strategy
- We will offer continuous support to our customers.
- We will offer 25% customers to our first ten clients for a period of 6 months.
- For our shorter-term clients, we will offer a 10% discount.
- We will advertise our services through social media, billboards, posters, and Google Ads.
6.3 Sales Monthly
6.4 Sales Yearly
6.5 Sales Forecast
A consultancy firm depends on its relationships with its clients. Riley decided to implement some selection criteria when hiring initial employees to develop and maintain excellent relationships with the customers. She also made these criteria a part of the HR consultancy business plan pdf as you will find in any HR consulting business plan template.
7.1 Company Staff
- 6 Certified HR consultants
- 2 Customer Care Managers
- 1 Web Developer to manage online sites
- 1 Sales Executives to organize and promote sales
- 1 Accountant
- 1 Receptionist
7.2 Average Salary of Employees
The success of a business depends on many factors, of which financial standing is one. To ensure the success of your business, you need to maintain it in good financial standing. To do this, you need to manage your operations and problems in a timely fashion. To ensure that your business won’t suffer any loss, you need to develop a financial plan and make it a part of your business plan for HR consulting firm. You can take guidance for this from an HR consulting business plan template.
Here we’re providing the detailed financial plan developed for Riley’s HR Consultants. You can get an idea of business finances and how to manage them from here.
8.1 Important Assumptions
8.2 break-even analysis.
8.3 Projected Profit and Loss
8.3.1 profit monthly.
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.4 Projected Cash Flow
8.5 Projected Balance Sheet
8.6 business ratios.
- How do I start an HR consulting business?
You can start HR consulting business with any team size. You just need a strong HR consulting business model for which you can take help from this document.
- What should I charge for HR consulting?
The charges you take for HR consultant services will depend on the type of services. But on average, HR consultants charge anywhere from $100 to $300 per hour.
- How do HR consulting firms work?
HR consulting firms aid companies in dealing with their HR departments or managing their human resources in case they don’t have one. You can find more details in the above document.
- How do you write a human resource business plan?
You can write a human resource business plan by conducting an HR consulting industry analysis. For reference, you can take help from this document.
Download HR Consultant Business Plan Template in pdf
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.
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HR Consulting Business Plan Template [Updated 2023]
HR Consulting Business Plan Template
If you want to start a human resource consulting business or expand your current HR consulting firm, you need a business plan.
The following HR Consulting business plan template gives you the key elements to include in a winning human resources plan.
You can download our HR Consultant Business Plan Template (including a full, customizable financial model) to your computer here.
Below are links to each of the key sections of a HR Consultant business plan to help you start your own business plan:
I. Executive Summary – The Executive Summary provides a brief overview of your HR consulting company.
II. Company Overview – The company analysis section should include a detailed overview of your human resources business including your legal structure and product & service offering.
III. Industry Analysis -This section will include market research that provide insights into the HR consulting industry.
IV. Customer Analysis – The customer analysis will provide an overview of your target market.
V. Competitive Analysis – The competitive analysis will identify your main competitors and highlight your competitive advantage.
VI. Marketing Plan – This section includes your marketing strategy and sales plan, promotional strategies and advertising tactics.
VII. Operations Plan – The Operations Plan will include information on your HR consulting company systems and processes.
VIII. Management Team – The management team section includes your team’s backgrounds, qualifications, and responsibilities.
IX. Financial Plan – The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet.
You can download our HR Consulting Business Plan Template (including a full, customizable financial model) to your computer here.
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HR Consulting Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan
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Have you already laid out your plans on how you can start your HR consulting business? If not, you can definitely use our HR Consulting Business Plan Template and be more efficient with your time. Because it’s always an advantage if you plan ahead of time, we recommend that you utilize this convenient template now and just make minimal adjustments to its suggestive content to suit your business needs. All users will be delighted to know that this template comes in various file formats so that you can edit it with different programs on nearly any device of your choosing. Determine your desired style of HR business through this HR Consulting Business Plan Template. Grab it now!
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