If you own or operate a business, you should already know that business planning is one of the most critical aspects of your operation. Creating a business plan is or should be one of the first tasks you undertake when starting a business.
Your business plan should include everything from a detailed description of your products or services and pricing strategy to financial predictions. It can assist you in obtaining funds and achieving milestones, among other things.
Writing a good business plan can be difficult and time-consuming, especially when considering how long it takes to gather all necessary information about your industry and competitors. So, if you are unsure where to start or want to make the process go more smoothly, business plan software may be of assistance.
This article breaks down five business plan software solutions that are considered the best amongst others. We’ll cover their benefits, features and costs so you can make an informed decision about which solution is ideal for your business.
What is Business Plan Software?
Creating a business plan is a major task, and if you’re new to the industry, you might not know what to include or how to structure it properly. It’s a time-consuming procedure with several factors to consider. However, due to advancements in technology, writing a business plan is becoming much easier.
Now users can utilize business plan tools online to create highly professional business plans. It’s as simple as following a few prompts, answering a few questions, and adding some data about your business. A business plan software can help you gain actionable insights for your business and demonstrate outcomes in order to better impact both consumers and investors.
There are various different business plan software alternatives out there, just like there are many other business software solutions—each with its own set of features, user experience, and pricing.
What is the Benefit of using Business Plan Software?
Every person has a motive why they want to start a business. Despite the reason, a company will need the preparation of a business plan regardless of the size of the business. The following are a few benefits of using business plan software.
- Step-By-Step Guide
Business plan software can guide you through each element of the plan. It breaks down an extremely complex process into a series of easy-to-follow steps. - Customizable Templates
Select from a library of templates to make your business plan look professionally done. - Educational Materials
Access educational materials about business plans, entrepreneurship and various industries in the form of e-books, articles, videos and podcasts. - Time-Saving
Write a business plan in half the time compared to a traditional business plan. - Generates Financial Statements
Generate financial statements for your company with ease. Create charts and graphs with predictions and a well-thought-out strategy and goals for investors to see. - Expert Advice and Tips
Get expert advice and tips through the many streams of communication connecting customers and the company’s experts.
In a nutshell, business plan software can help you quickly create a professional business plan that precisely reflects your company’s current condition while also forecasting its future development.
The 5 best business plan software options
1. LivePlan
Best Overall. Starting from $15/mo.
LivePlan is a cloud-based software application that includes over 500 templates, a one-page pitch builder, automatic financial statements, full financial forecasting, industry benchmark data, and KPIs to help you create your business plan. It may also help you visualise the complete process for your business. Furthermore, LivePlan gives step-by-step instructions via built-in examples to inspire you.
Key Benefits:
- Simplified for all Users: LivePlan is designed for startups and entrepreneurs who don’t have the time or cash for cleverly styled business plans. Users do not need prior experience with any professional company planning software in order to use LivePlan.
- User-Friendly Platform: Because LivePlan is cloud-based, users can simply import financial data from other systems like QuickBooks and Xero, saving time and effect. Their user-friendly platform makes it simple to create presentation-ready plans with ease.
- Educational Materials: The annual membership gives you access to a plethora of legal documents, instructional e-books, and even a template for an employee handbook. Their system is structured in such a way that the more LivePlan features you unlock, the cheaper it becomes.
Pricing:
| Plan name | Annual pricing | Monthly pricing |
| Standard | $15.00/mo. | $20.00/mo. |
| Premium | $40.00/mo. | $30.00/mo. |
Data as of 04/03/22. Offers and availability may vary by location and are subject to change.
While there’s no free trial, you get a 60-days money-back guarantee.
2. Bizplan
Best for a startup. Starting at $20.75/mo
Bizplan is a contemporary business plan software that can help you create a business plan by breaking down the sections into a step-by-step approach.
Bizplan includes features such as a guided builder, drag-and-drop templates, automatic financial predictions, an online fundraising tool, and more to assist you in creating your business plan.
Key Benefits:
- Templates: Bizplan can help you combine complex visuals/functionality into your business plan. Furthermore, its drag-and-drop templates make formatting much easier than with traditional spreadsheet applications.
- Guidance: Bizplan divides the business plan creating procedure down into manageable chunks that you can tackle one at a time, and they take you through each step.
- Integration: Sync with Quickbooks, Xero, or whichever accounting software you use to easily import and manage your financials.
- Shareable: Share a professionally formatted digital version of your business plan with potential investors or share it on LinkedIn, Twitter, or wherever you choose to increase brand recognition.
Pricing:
| Annual pricing | Monthly pricing | Lifetime Access |
| $20.75/mo. 249/yr |
$29.00/mo. | $349.00 |
Data as of 04/03/22. Offers and availability may vary by location and are subject to change.
All the Bizplans plans include every Bizplan feature, self-guided courses, 650 masterclass videos, 1,000+ how-to guides, etc.
3. GoSmallBiz
Best for small businesses and non-profits. Starting from $39/mo.
GoSmallBiz is a cloud-based tool that provides business-specific templates, a step-by-step wizard, and video training to assist you in creating a business plan by allowing you to fill in business facts in several areas.
Its online calendar management software is another essential feature. Meetings, activities, and appointments may all be scheduled with automated reminders. It also allows you to produce financial statements with multi-year estimates, such as income, cash flow, and balance sheets.
Key Benefits:
- Financial Statements – Make financial statements, such as cash flow, forecasts, and balance sheets, among other things. Reports and statements may be prepared without the need for any additional spreadsheet program.
- Plan Wizard – There is over 100 company templates that you may add or remove features. You may also change the order of sections and update the table of contents. Standard templates are created to allow businesses to customize them to their own business needs.
- Knowledge Base – GoSmallBiz has all of the tools a new business owner needs to get their business up and running. Including courses to aid in the development of business skills.
- Smart Financials – Revenue estimates can be obtained on an annual, product, or category basis. It also allows you to forecast different income streams depending on a variety of critical indicators.
Pricing :
| Plan name | Monthly pricing |
| Grow | $39.00/mo. |
| Guide | $49.00/mo. |
| Go | $199.00/mo. |
Data as of 04/03/22. Offers and availability may vary by location and are subject to change.
You may pick from a variety of smaller price packages as well as one-time services to add to your plan such as Tax ID/EIN, HR Document Builder, Business Plan Software, and so forth. CRM with email marketing, HR Document Builder, Business & Legal Forms, Business Roadmap, and more are all included in the package.
4. PlanGuru
Best for forecasting & budgeting starting at $99/mo.
PlanGuru is a budgeting and forecasting-focused business planning software with a lot to offer small, mid-sized companies and non-profits. It is a great help with budgeting, making financial projections, and planning for the future.
You can also use PlanGuru to create unlimited business plans by integrating it with Xero, QuickBooks, QuickBooks Online, and Excel Import. It also has an Excel report generator and allows you to export your regular reports to Word, Excel, and PDF.
Key Benefits:
- Knowledge Base: Access live demos, video tutorials, and full-on courses through PlanGuru University.
- Integration: PlanGuru integrates with Excel and Quickbooks, making it super easy to import your financial data.
- Free Trial: Their free 30-day trial is a great way to explore their services before committing.
- Forecasting Methods – It offers over 20 forecasting methods that allow you to predict your financial scenario for up to 10 years.
Pricing:
| Plan name | Annual pricing | Monthly pricing |
| PlanGuru App | $899.00/yr. | $99.00/mo. |
| PlanGuru Desktop | $899.00/yr. | $99.00/mo. |
Data as of 04/03/22. Offers and availability may vary by location and are subject to change.
PlanGuru offers different pricing plans for businesses/non-profits and advisors, even though the prices are similar. You can also choose from a cloud-based app or Windows Desktop solution. You also get a 30-days money-back guarantee.
What to look for in business plan software
Shopping for anything can be a daunting task especially if it’s business-related. Narrowing down to one business plan software is a difficult task with so much to select from.
To figure out how to pick from the different possibilities available, you might find it useful to compare your top choices using the criteria below:
- Features: The number of features that each software has to offer. You’ll want to look carefully at the feature list of any software and determine what features are most important for your business needs. It may be useful to list out your ideal feature set, so you can compare individual software plans to that list.
- User experience: Whether the software is easy to use and user-friendly is a key benefit. User experience can vary widely among different business plan software options. The right user experience for your needs is genuinely a matter of opinion and comfort—nevertheless, it’s worth thoroughly testing out a platform to ensure that it can truly work for you before investing in a monthly or annual subscription.
- Price: Although you might be able to find some free business plan software options (or at the very least, free trials), in most cases, you’ll need to pay a subscription fee to access the platform you choose. Therefore, you’ll want to think about what your budget is for this business tool and what type of software is most cost-effective for your needs.
- Reviews: Product reviews are a great way to obtain the opinions or feedback of customers. Many online businesses put up a review section on their website to allow customers to rate and review the product they purchased. A product review helps other users get a clear idea of the product before purchasing it.
Final Words
If you own or manage a business, you should already be aware that one of the most important components of your operation is business planning. The first thing you should consider when starting a business is to write a business plan. That is after you research your business idea. Creating a business plan is then followed by forming a business entity, creating a website, and building a marketing plan.
The process can become overwhelming; fortunately, there are numerous online software that can help. Business plan software can assist in creating a plan suited to your business’s unique needs. There is a variety of business plan software available online with features that can be utilized to produce a professional business plan.
The best business plan software listed above has some of the best features to create a business plan. For instance, LivePlan offers features to summarize a complex business into a simple business plan. PlanGuru is great for financial planning and budgeting. BizPlan has a great integrated financial platform. The bottom line is to be sure to review all the software features and their pros, cons, and key benefits to make your final decision.