Business plan is a document outlining business goals, financial projections, and strategies. It clarifies organizational vision, strategy, and finances while increasing the chances of securing funding and attracting investors. A well-written business plan works as an investor’s roadmap, showcasing a researched market opportunity, a sound strategy, and the true potential for financial return.
While developing a business plan using the traditional method is time-consuming and overwhelming, business planner software can assist entrepreneurs in creating a professional plan. These provide the necessary structure and guidance to create business plans efficiently.
Geekflare reviewed dozens of business planning tools and picked the best business plan software applications based on their features, ease of use, and pricing.
- Cuttles – Best for Interactive Business Planning and Pitching
- IdeaBuddy – Best for Comprehensive Planning with Financial Projections
- LivePlan – Best for Innovative Idea Development
- Bizplan – Best for Modern and Visual Planning
- Upmetrics – Best for Data-Driven Planning
- PlanGuru – Best for Advanced Financial Analysis
- Enloop – Best for Automated Financial Forecasting
- PlanBuildr – Best for Quick and Simple Business Plans
- The Business Plan Shop – Best for User-Friendly Interface
- Show less
You can trust Geekflare
At Geekflare, trust and transparency are paramount. Our team of experts, with over 185 years of combined experience in business and technology, tests and reviews software, ensuring our ratings and awards are unbiased and reliable. Learn how we test.
Cuttles
Best for Interactive Business Planning and Pitching
- Financial ReportingComprehensive
- IntegrationYes
- Ease of UseBeginner-Friendly
About Cuttles
Cuttles is fully interactive business plan software that helps entrepreneurs develop business plans and understand their businesses. It is a web app that asks questions and creates a plan based on the answers given by the company, with a layout according to the brand.
Cuttles offers fully customizable business plan templates that organizations can modify according to their industrial needs. It has a beautiful editor that anyone can use with flexibility. It is available in English, French, Spanish, German, and Portuguese.
After creating a solid business plan, users can easily share its link with other team members or investors. It also supports exporting the plan in PDF format.
Cuttles Pros and Cons
250+ guides, examples, and widgets for assistance
7-day free trial on any plan
Dashboard to track financial health
No free plan is available
Does not offer any mobile app
IdeaBuddy
Best for Comprehensive Planning with Financial Projections
- Financial ReportingAdvanced
- IntegrationNo
- Ease of UseBeginner-Friendly
About IdeaBuddy
IdeaBuddy turns innovative business ideas into professional business plans for successful ventures. This free business planning software allows you to enter data in the sections in the Business Guide and automatically generate an investor-ready business plan.
IdeaBuddy has pre-built templates that companies can customize using an unlimited-edit-ability built-in editor. The business plan can be exported in Word, Excel, and PDF format or shared using a link. Organizations can use it to collaborate with teammates and stakeholders in real-time.
IdeaBuddy has a financial plan feature that companies use to get financial forecasts, which is an important component of a business plan. However, businesses can utilize sales pipeline software to generate data on financial projections.
IdeaBuddy Pros and Cons
Free plan available for one idea
15-day free trial
Mobile-friendly platform
Does not have any dedicated mobile app
Whiteboard is only available for Free and Team Pro plan users
LivePlan
Best for Innovative Idea Development
- Financial ReportingComprehensive
- IntegrationYes
- Ease of UseIntermediate
About LivePlan
LivePlan allows users to create their business plans for all major industries with its collection of 500+ templates. LivePlan forecast feature lets companies skip the manual calculation and provide the data input based on which it will generate charts, figures, graphs, and other documents for the business plan.
After creating the business plan, companies can export it in Word or PDF formats. LivePlan supports real-time financial data tracking and Xero and QuickBooks integration. It also offers milestone scheduling and sales and budget tracking. It lets users create a one-page pitch in 30 minutes.
LivePlan Pros and Cons
AI-powered LivePlan Assistant for improved writing version
Performance dashboard with 20+ trend reports
Compare KPIs with industry benchmark data
Does not offer any free trial
Standard plan users do not get integration support
Bizplan
Best for Modern and Visual Planning
- Financial ReportingAdvanced
- IntegrationYes
- Ease of UseIntermediate
About Bizplan
Bizplan is ideal business plan software for startups looking for investors or funding. With this modern and intuitive business plan builder, entrepreneurs can create a business plan exactly as they want.
Bizplan also offers educational resources to help companies easily use this drag-and-drop tool for building templates. Its Financial Command Center comes with various financial tools. Companies can use this business plan software platform to create team salary forecasts, revenue projections, and balance sheets.
While users can add collaborators and stakeholders here, they can control who can view sensitive data and comment on them. Companies can share their business plan using the online link.
Bizplan Pros and Cons
Direct access to a community of 20,000 startup founders
1200+ detailed guides
Free technical support
No free trial available
No mobile apps
Upmetrics
Best for Data-Driven Planning
- Financial ReportingComprehensive
- IntegrationYes
- Ease of UseIntermediate
About Upmetrics
Upmetrics offers an AI-powered business plan generator that can write a complete or partial business plan, re-format sections, make improvements, and adjust content tone. It allows real-time feedback and collaboration with an easily navigable comment section.
Upmetrics offers a drag-and-drop interface so that companies can create plan outlines according to their preferences. Once the plan is generated, users can save the file in DOC or PDF formats or share it online with the stakeholders.
Upmetrics users also choose creative cover pages to make their business plans stand out. It also has a financial forecasting feature that suggests expense types, revenue streams, sale costs, and expenses. It generates reports on cash flow, profit breakdown, retained earnings, etc.
Upmetrics Pros and Cons
400+ templates for almost all industries
Business plan checklist to track progress
15-day money-back guarantee
Does not have any mobile app
Does not offer any free trial
PlanGuru
Best for Advanced Financial Analysis
- Financial ReportingComprehensive
- IntegrationYes
- Ease of UseAdvanced
About PlanGuru
PlanGuru is the right business planning software for companies focused on the financial aspect of the company. Businesses can utilize its budgeting, and reporting, and financial forecasting tools to include in the business plan.
PlanGuru is a web app that is also available on Windows-based apps. Using its 20+ standard forecasting methods, companies can generate forecasts for up to 10 years.
PlanGuru supports integration with QuickBooks, Xero, and Microsoft Excel for data import. The generated reports can be exported in Word, Excel, and PDF formats.
PlanGuru Pros and Cons
30-day money-back guarantee
14-day free trial
US-based technical support
Does not offer business plan templates
No desktop app for Mac
Enloop
Best for Automated Financial Forecasting
- Financial ReportingComprehensive
- IntegrationYes
- Ease of UseIntermediate
About Enloop
Enloop facilitates quick business plan creation by generating automated text that users can easily edit. It automatically syncs the company’s financial data with the business and updates it whenever that data changes.
Enloop users can develop business plans using customizable text, tables, charts, images, and 100+ currency symbols and formats. They can invite their colleagues to edit the plan and other partners to view it.
Enloop automatically generates bank-ready financial forecast reports and 16 critical financial ratios for forecasted performance analysis. This tool allows users to utilize real-time performance scores in their business plans.
Enloop Pros and Cons
7-day free trial
Pass/fail report for understanding critical issues
Colored chart for data visualization
Free subscription plan is unavailable
Costlier than many of its competitors
PlanBuildr
Best for Quick and Simple Business Plans
- Financial ReportingAdvanced
- IntegrationNo
- Ease of UseBeginner-Friendly
About PlanBuildr
PlanBuildr is a user-friendly solution that prompts businesses to fill in the blanks to generate a business plan. Users have 10 templates of various industries to choose from to build a business plan for their company.
PlanBuildr automatically makes financial projections for 5 years, including income statements, balance sheets, cash flow statements, charts, and graphs to be included in the business plan. It supports direct printing of the plan and downloading to share with others.
PlanBuildr also supports adding teammates and creating an executive summary. The content and format generated by PlanBuildr are highly tailored to raise money faster from investors.
PlanBuildr Pros and Cons
Limited free trial
Expert customer support team and online support center
Business plan samples for various industries
Only 10 designs to choose from
Unavailability of free plan
The Business Plan Shop
Best for User-Friendly Interface
- Financial ReportingAdvanced
- IntegrationNo
- Ease of UseBeginner-Friendly
About The Business Plan Shop
The Business Plan Shop is a solution that offers a wide collection of templates for business plan creation. After signing up for this user-friendly software, users get instructions and examples for each section of the business plan.
The Business Plan Shop generates forecasts for three to five years, and measures progress toward goals using KPIs. Companies can use business consulting software while working on goals. It also supports side-by-side scenario comparisons between actual and forecast.
The Business Plan Shop integrates with Xero and QuickBooks to import accounting data for forecasting purposes. After creating the plan, users can easily export it in MS Word or PDF formats.
The Business Plan Shop Pros and Cons
7-day free trial is available
Built-in document editor for quick formatting
SSL for data security
Does not work offline
Free trial does not include access to templates
Business Plan Software Comparison
| Business Plan Software | Templates and Help | Financial Projections | Collaboration and Sharing | Pricing |
|---|---|---|---|---|
| Cuttles | Fully customizable templates, basic help guide | Cash flow projection | Download as PDF | €8/month |
| IdeaBuddy | Pre-built templates, detailed help guides | 5-year projection, cash flow projection | Allow access to view and edit, shareable link, download in Word, Excel, and PDF | Free plan available |
| LivePlan | Templates available, Extensive collection of help articles | AI-powered forecasting on cash flow, sales, etc. | Download in Word or PDF | $12/month |
| Bizplan | Template creation, 1200+ detailed guides | Team salary forecasts and revenue projection | Control access to view and comment, sharable online link | $20.75/month |
| Upmetrics | 400+ examples and free templates, | AI-powered forecasting suggestions | Real-time collaboration, online sharing, PDF and DOC file download | $7/month |
| PlanGuru | No templates, in-depth assistance | 20+ forecasting methods | Not applicable | $83/month |
| Enloop | Generates automatic text, detailed guidance | Bank-ready financial forecast | Download facility for business plan | $19.95/month |
| PlanBuildr | Template for financial projection, expert customer support | Financial projection for 5 years | Not available | $7.99/month |
| The Business Plan Shop | Templates in Word and PDF, | 3-way financial projection | Centralized discussion, access, and permission management | $32.00/month |
What Is a Business Plan?
A business plan is a document that explains a business’s objectives and how it aims to achieve them. It is an essential written document that companies need for internal (organizational decision-making) and external (securing funding from investors or partners) audiences. It focuses on key elements to demonstrate the business’s viability.
A standard business plan should consist of 15 to 20 pages. If it includes lengthy components, it is better to add them to the appendix and refer to them in the main plan.
How to Create a Business Plan
Creating a business plan involves steps like creating an executive summary, performing market research, developing business strategies, discussing business products, and making financial projections. To develop a business plan for an organization, go through the steps below.
#1. Write an Executive Summary
Consider it as the elevator pitch and include the summary of the whole business plan, including the mission statement. It is better to write it in the end.
#2. Define the Business
In this section, mention the basic info about the company, such as its registered name, location, key people, and their expertise. Also, include business structure, company history, and ownership percentage.
#3. Mention Business Objectives
The business plan should include an objective statement – what the company wants to achieve in the long run. While developing a plan for investment or loan, emphasize this section and make it elaborate.
#4. Discuss Products and Services of the Business
Here, describe in detail the product or service the business will offer. Also, include the pricing model, target audience, and sales and distribution strategy.
#5. Market Research
In this segment, discuss the competitors. Include the reason behind their success and how the organization has the potential to outperform them.
#6. Develop Business Strategy
Mention how the organization is planning to persuade customers to avail of the services and retain customer loyalty. Include detailed plans of marketing, management, and operational strategies.
#7. Financial Analysis
While startups may not have enough information on business financials, existing businesses should include a balance sheet, profit-and-loss statements, and a cash flow statement.
#8. Make Financial Projections
This is a critical section for financing or investors. Here, outline how the company is planning to generate profit to repay the loan or offer a generous return to the investors.
#9. Additional Information
Any supporting information that the company wants to include in the business plan should go in the appendix.
Benefits of Business Plan Software
Business plan software has a robust toolkit that allows businesses to create investor-ready documents from the concept. It offers step-by-step guidance for business plan creation and pre-formatted templates for a professional structure.
Business planning tools, when integrated with BPM software, accounting software, and market research software, can automatically collect relevant data for the business plan. It even has built-in tools to generate financial projections with complex calculations and graphs.
With these features, business planning software solutions empower companies to create compelling and error-free plans. Thus, they effectively communicate the organizational vision to investors.
How to Choose the Right Business Plan Software
Creating solid and convincing business plan tools is crucial, so companies must choose the right software to make the process smoother. Although there are many options, following these points will help them select the most suitable business plan software solution.
Assessing Business Needs
Companies should start by identifying what the business plan requires. Does the company need in-depth financial forecasting, or does it need to focus on market research? Match it with the software’s features to choose the most useful software.
Considering Team’s Expertise
Always take the technological expertise of the team into consideration. If the team has limited tech experience, go for user-friendly software with clear instructions and a flat learning curve.
Budgeting for Business Plan Software
Determine the organizational budget for the business plan apps and choose the tool with an affordable plan. To that end, compare the pricing models of the shortlisted applications.
Reading Reviews and Getting Recommendations
Read online user reviews and seek recommendations from other entrepreneurs or business advisors. This will provide valuable insights into the software’s effectiveness and user experience.
Conclusion
Regardless of the estimated business size, a properly written business plan is vital for future growth and success. Companies should choose the right tool to ensure that they send a clear and focused message to investors. It guides them through essential elements and helps them avoid critical oversights.
With sophisticated business plan software providers, users can effortlessly write a business plan. The above list will help them choose the right solution for business.