What is a business plan?
A business plan, or business plan in French, is an essential document for any entrepreneur wishing to launch a new business or develop an existing business.
It is a detailed road map that describes your project, identifies your target market, outlines your strategy, and forecasts your future growth and profitability.
Here are the main elements that generally make up a complete business plan file:
- Executive summary (Executive Summary): a 1 to 2 page summary presenting the key points of your business plan.
- Business Description : presentation of your company, its history and context, its legal status, its management team.
- Market analysis : in-depth market study of your sector of activity, your competitors, your target and its potential.
- Products and services : detailed description of your offer, its competitive advantages and its positioning.
- Marketing and commercial strategy : explanation of how you will promote your products/services and generate sales.
- Financial forecasts : projection over 3 to 5 years of your income statement, balance sheet, financing plan and cash flow statements.
- Appendices : any document supporting your plan such as CVs, market studies, contracts, etc.
Beyond being a planning tool, a business plan is essential for convincing funders or obtaining a bank loan. That is why it must be clear, structured, realistic and demonstrate the viability and potential of your project.
Numerous online tools such as business plan templates and financial forecasting software can help you write it.
What is the best software to create a business plan?
Here are my picks for the best business plan design software to use:
1. LivePlan : Business planning reference
LivePlan (ex Business Plan Pro) is a complete platform for creating your business plan and monitoring the growth of your business. With over 500 business plan templates and step-by-step support, LivePlan guides you through every step of creating your plan.
Key features
- Business Model Canvas to model your project on one page
- Automated cash flow forecasts, synchronized with your accounting
- Visual planning of the milestones and key tasks of your project
- Performance indicator monitoring dashboards
- 10 professional layout themes, optimized to convince in order to obtain investments
- Real-time collaboration with your team
- AI assistant (LivePlan Assistant) to help you create a business plan
Pricing
- Standard: $15/month (annual) or $20/month (monthly)
- Premium: $30/month (annual) or $40/month (monthly)
- 35 days satisfied or refunded
❤️ Our Take : LivePlan is the ultimate solution for creating professional and compelling business plans. With its models adapted to more than 1000 industries and its automated financial tools, its AI assistant guides you step by step in developing and updating a solid plan. The reference for turning your ideas into reality!
👍 Pros : Proposes business plan models adapted to more than 1000 industries. Includes powerful financial tools to generate realistic forecasts. Offers expert advice for each section of the business plan. Allows real-time collaboration with its team and advisers. Generate quality visuals to pitch effectively.
👎 Cons : Requires a monthly subscription. May seem a bit complex for beginning entrepreneurs. Design customization options are sometimes limited.
2. IdeaBuddy : AI generator of business plans for startups
IdeaBuddy is the perfect solution to quickly structure your business project and collaborate effectively with your partners. With its intuitive tools and expert advice, IdeaBuddy accompanies you every step of the way, from the first idea to the complete business plan.
Key features
- One-page idea plan (“1-Pager”) to clarify your concept
- Step-by-Step Guide to Turning Your Idea into a Viable Business
- Financial planning tools to validate the profitability of the project
- Professional business plan generator to present to investors
- Brainstorming and online collaboration features
- Case studies and examples of other businesses
Pricing
- Dreamer: $15/month (1 project, 1 collaborator)
- Founder: $25/month (3 projects, 3 collaborators)
- Team: $45/month (30 projects, 30 collaborators)
- Discounts of up to 40% with the annual subscription
- 15-day free trial of this business plan software
- Lifetime option available for a one-time payment at $155
❤️ Our Take : IdeaBuddy is the ideal partner to go from idea to concrete project. With its intuitive canvas and targeted questionnaires, it helps you structure your concept and write a professional business plan. The ideal boost to get started with complete peace of mind!
👍 Pros : Propose a simple and visual framework to structure your ideas. Generate a first draft of a business plan based on a questionnaire. Offers educational resources to deepen each aspect of the project. Provides access to a caring community of entrepreneurs. Allows you to pitch your project to potential investors.
👎 Cons : Focuses on the early phase of the project, less on detailed planning. The financial functions are more basic than on other tools. The design of the business plans generated is a bit generic.
3. Upmetrics : Professional models to impress investors
Upmetrics is an online business plan software that combines ease of use and advanced features.
Its professional models and integrations with third-party tools make it the ideal solution for entrepreneurs.
Key features
- Customizable business plan templates by industry
- Financial data integration (Xero, QuickBooks...)
- Automated financial forecasts over 3 to 5 years
- Online collaboration with version tracking
- Professional exports in several formats (PDF, Word, PowerPoint)
- Dashboard to track goals and key metrics
- Multi-language AI assistant to allow you to create a quality business plan much more quickly
Pricing
- Starter: $7/month (billed annually)
- Premium: $14/month (billed annually)
- 25% reduction in annual billing
- 7-day free trial
❤️ Our Take : Upmetrics is the perfect solution for busy entrepreneurs who care about their image. Its ultra-comprehensive templates and intuitive interface make it possible to generate professional business plans in record time. The secret to impressing investors and partners with a minimum of effort!
👍 Pros : Provides comprehensive business plan templates for numerous sectors. Simplifies typing with a drag-and-drop interface and pre-filled examples. Synchronize financial data across the entire document. Produces documents that are beautifully designed and ready to be shared. Integrates with numerous other software to streamline the process.
👎 Cons : The abundance of options can cause confusion for beginning entrepreneurs. Requires a subscription, only a demo space is available without a subscription.
4. Bizplan: Intuitive software for powerful business plans
Bizplan is an intuitive online software created by Startups.com that democratizes the creation of business plans thanks to its templates and visual tools. Designed for startups and SMEs, it even includes a fundraising platform to present your project to investors.
Key features
- Customizable templates with simple drag and drop
- Automatically generated financial projections
- Fundraising facilitated through the integration of the Fundable platform
- Expert video tips and step-by-step guides
- Access control to protect sensitive data
- Visual monitoring of the progress of the project
Pricing
- Monthly: $29/month
- Yearly: $20.75/month ($249/year)
- Unlimited lifetime access: $349 (one-time payment)
❤️ Our Take : Bizplan is the ally of business creators in search of simplicity and efficiency. With its step-by-step assistant and its content library, it allows everyone to design a clear and convincing business plan without headaches. The winning combination between power and ease of use!
👍 Pros : Offer a step-by-step assistant to gradually build your business plan. Provides access to a library of examples and tips for each section. Integrates an intuitive text editor with automatic formatting. Facilitates the creation of visuals with its graphic modules. Includes financial projection and benchmarking tools.
👎 Cons : Less suitable for very complex or technical business plans. Collaborative features are sometimes limited. Few possibilities to customize the final design of the document.
LEARN MORE >> Do a Bizplan test
5. Enloop: Business plan automation with advanced financial analyses
Enloop is an intelligent software that automates the drafting of your business plan. It assesses the viability of your project in real time and facilitates collaboration with your partners and advisors through online sharing.
Key features
- Assisted writing and viability analysis in real time
- Performance scores and sector benchmarks
- Customizable financial forecasts and key ratios
- Professional layout templates
- Secure online sharing for up to 5 users
- Support for over 100 currencies
Pricing
- Detailed: $11/month (annual) or $19.95/month
- Performance: $24/month (annual) or $39.95/month
- 7-day free trial with no credit card required
❤️ Our Take : Enloop is a complete software for business plans. Its powerful algorithms generate reliable financial forecasts while its collaborative tools facilitate teamwork. An unbeatable combo for entrepreneurs 2.0!
👍 Pros : Automates the creation of realistic financial forecasts. Automatically assesses the viability of the plan with a performance score. Allows the import of real financial data for greater accuracy. Facilitates collaborative work through sharing and feedback in real time. Offers adaptable models for many industries.
👎 Cons : Automation may lack flexibility for very specific cases. The slightly dated interface would benefit from being refreshed. The price is in the upper end of the market.
LEARN MORE >> Do a Enloop test
6. 15minuteplan.ai: AI business plans in 15 minutes flat
15minuteplan.ai is an innovative tool that uses theartificial intelligence to generate tailor-made business plans in record time. Thanks to its advanced technology and its ultra-complete database, 15minuteplan.ai allows you to create a professional and personalized business plan in just 15 minutes.
Key features
- AI-based business plan generator
- Smart questionnaire to understand your project in a few answers
- Database of over 100,000 business plans to get inspired
- Personalized suggestions and expert advice in real time
- Business plan models adapted to each industry and type of project
- Integration of financial data and automated forecasts over 5 years
Pricing
Here are the available rates (and visible only after generating your first business plan):
- Starter package: Single payment of $99/month
- Model GPT-3.5 - Basic business plan structure
- 3 plans - 10 pages per plan
- Professional Package: Single payment of $139/month
- Model GPT-4 - Advanced business plan structure
- 10 plans - 20 pages per plan
❤️ Our Take : 15minuteplan.ai is a small revolution for anyone who dreams of starting a business. Thanks to artificial intelligence, in a few clicks, it generates a tailor-made business plan based on targeted questions. Enough to go from thought to action in a flash.
👍 Pros : Generate a complete and personalized business plan in a few minutes using AI. Ask relevant questions with answers suggested by the AI to help you frame the project interactively. Identifies risks and provides recommendations. Allows you to refine and enrich the generated plan intuitively. Offers excellent value for money.
👎 Cons : Like any AI tool, it can sometimes lack nuance or contextualization. Does not offer extensive formatting or design options. Like any AI-based tool, it could omit some information that it's not up to date on.
LEARN MORE >> Try the tool from AI business plan by 15minuteplan.ai
How to make a business plan?
The business plan is the reference document for anyone involved in a business creation project.
It is your road map to launch your business on a solid basis.
But where do you start? What information should you include? And how do you structure this document?
We are going to dissect the key steps to create a business plan professional and convincing.
Whether you're looking for financing or simply want to clarify your strategy, follow these steps to build a business plan that will lead you to success.
Step 1: Summarize your project
Start with a summary of 1 to 2 pages presenting the essential points of your project:
- Your business concept and its positioning
- Your short and medium term goals
- Your team and its key skills
- Your financial needs and profitability forecasts
This summary should Make the reader want to know more. Be clear, concise, and persuasive.
Step 2: Showcase your business
Detail the characteristics of your future business here:
- Its history, its values, its mission
- Its legal status and organizational structure
- Its geographical location and its premises
- Its human and material resources
The objective is to show that your project is based on solid and coherent foundations.
Step 3: Analyze your market
It is a crucial step for demonstrate the viability of your project.
You need to:
- Precisely define your sector of activity and its trends
- Identify your direct and indirect competitors, their strengths and weaknesses
- Targeting your potential customers, their needs and expectations
- Estimate the size of your market and its growth prospects
A thorough market analysis will prove that you have real business potential.
Step 4: Present your offer
Your business plan should clearly explain What you sell and why it's unique.
Detail:
- Your products and/or services, their characteristics and advantages
- Your value proposition and differentiating factors
- Your pricing policy and your forecast margins
- Your development and innovation projects
Highlight what makes your offer strong and attractive to customers.
Step 5: Outline your strategy
It is now a question of describing How are you going to conquer your market.
Explain:
- Your positioning and your commercial objectives
- Your marketing action plan (targets, messages, channels...)
- Your sales and customer loyalty strategy
- Your possible partnerships and prescribers
Each element of your strategy should be justified and quantified as much as possible.
Step 6: Present your financial forecasts
The financial part is often the most scrutinized by investors.
You should include:
- A provisional income statement over 3 to 5 years
- An initial financing plan and working capital requirements
- A provisional balance after 3 or 5 years
- A forecast cash flow statement
Your assumptions should be realistic and careful. Feel free to integrate different scenarios.
Step 7: Complete with appendices
Finally, attach all the documents that support and enrich your business plan:
- Founders' and managers' CVs
- Market studies or customer surveys
- Signed contracts or letters of intent
- Legal documents (statutes, patents...)
These appendices should be relevant and provide additional information.
As you will have understood, a business plan is a strategic document that requires time and thought.
But that effort will be rewarded, because a good business plan is your best. An asset to convince your partners and guide your decisions.
Take the time to write each section carefully, ensuring that everything is consistent. Do not hesitate to have your plan reviewed by family members or professionals to improve it. And above all, see this business plan as an evolving tool, to be updated regularly as your entrepreneurial project progresses.
Key features of a software to create a Business Plan
A good tool should simplify and speed up the writing process, while also guiding you to develop a professional and compelling plan.
Here are the key characteristics to focus on:
- Customizable templates : choose software that offers models adapted to your sector of activity, your stage of development and your goals. The best tools offer varied examples and tips for each section of the plan.
- Intuitive interface : the tool should be easy to use, with clear instructions and accessible functionalities. Check for tutorials, online help, and responsive customer support.
- Team collaboration : opt for a solution that allows collaborative work, sharing and co-editing in real time. This is essential if you are drafting your plan with partners or advisors.
- Data integration : your software must be able to easily integrate financial data (Excel files...), charts, images and tables to enrich your plan.
- Automated financial forecasts : this tool should help you generate realistic and consistent forecasts, by automatically calculating your key financial ratios and the expected profitability of your project.
- Version tracking : as changes are made, it is essential to be able to track the history of the versions, to compare the changes and to go back to an earlier version if necessary.
- Customizable export : at the end of writing, you must be able to export your business plan in a professional format (PDF, PPT, DOC...), choosing precisely the sections to include and the layout.
Among the software that meets these criteria, I can mention LivePlan, UpMetrics or Bizplan in particular.
These tools recognized on the market allow you to create a business plan from A to Z, with advanced financial forecasting features and numerous expert advice.
Summary.
In conclusion, choosing the right business plan software is a crucial step in bringing your business project and new ones to life. business ideas.
Among the tools presented in this guide, you are sure to find the one that fits your needs and your style.
- LivePlan is the essential reference, with its comprehensive functionalities and intuitive interface.
- Upmetrics and Bizplan offer you professional models to impress your potential investors.
- IdeaBuddy and 15minuteplan.ai are revolutionizing the creation of business plans thanks to artificial intelligence.
- Enloop automates the process with advanced financial analyses like a chartered accountant
With the right business plan software, you have all the keys in hand to turn your vision into reality.
So don't wait any longer to find your ideal ally and propel your business to the top!
