Best Business Plan Software And Tools in 2024

source https://upmetrics.co

Every business starts out with an idea that needs to be planned out down to every detail for it to get going. Traditionally, businesses have been planned over long periods of time with every detail collected and aspect thought about. Despite going through each detail meticulously, businesses often miss out on significant aspects or perhaps don’t end up with a plan perfect for their intended business. A much more streamlined way of developing a business plan can be with the use of a comprehensive Business Plan Software that can consider your requirements to come up with the perfect plan for your business.

Why use a Business Plan Software?

Now why use a business plan software, and why do experienced investors and owners invest in software to come up with a perfect plan? Well, for starters, with many minds collaborating in the planning process, a manual planning mechanism makes it very easy to miss out on essentials or aspects necessary to one specific department. Organizations often have to re-chalk these plans from the beginning stages due to the lack of one of these relevant aspects.

Even if you can manage to pin-point all required aspects, sometimes your plan might not end up looking like you wanted it to or what the investors would appreciate. Highlighting just the right aspects in a business plan and correlating them to other important financial and managerial metrics can be executed well by business plan software, which is why leading entrepreneurs rely on business plan software to visualize a plan for their upcoming businesses.

The 5 most popular Business Plan Software in 2024

Here are 7 must-have sections for a good business plan, each of which answers a relevant question about the business you are about to commence:

1. Upmetrics

One of the most comprehensive options in this listing is Upmetrics. It is gaining an increasing number of users each month, owing to its flexible interface and simple strategies for planning your business with collaboration and forecasting elements.

What makes it stand out from the others is an approach of realism where even measure is considered to translate to a distinct entity in real life. The Upmetrics business plan builder is the best business plan software to see different aspects of your business actually take shape.

The software tool also provides various build-in tutorials that can help you understand how to use the software for your business planning & financial forecasting along with navigating its own features.

The one thing that is to rave about in Upmetrics is customization. With a wide range of templates and industry-specific planning elements to offer, you can rest assured that your plan will be adept and unique at the same time.

Features

• A Pitch Deck Creator helps create a to-the-point and quick professional pitch with customizable templates and a business presentation option in under 10 minutes.
• Business Planning features are pretty layered within 400+ plan templates to choose from and easy-to-use drag-and-drop elements to quickly create a professional-level business plan.
• You can also avail a plan insight of Financial Forecasting to gauge the profit levels expected and create a balance sheet to get an idea of all financial activities.
• The software can be used along with built-in Canvas Modeling that helps create an actionable business model that includes the key business metrics.

Pros

• It is perfect for a wide range of business plan creations. Its business plan builder contains well-written 400+ business plan templates featured for various industries. Just copy your suitable template into your plan builder and start editing right away.
• Drag & drop visual elements into your business plan. Inline step-by-step guides to help your planning.
• You can design custom Business Plan Cover Pages along with several other personalized elements for a more professional touch.
• You can cancel your plan at any time with a 15-day money-back guarantee in your aid.

Cons

• A free trial is not available.
• Some additional features such as plan analytics, custom branding, and cover designs, etc provided by this software might not be useful for simpler projects.

Pricing

Simple and flexible pricing:

1. The Solo plan- billed at 7 per month (Billed Every 12 Months),
2. The Team plan- billed at 14 per month (Billed Every 12 Months) and
3. The Premium plan- billed at 37 per month (Billed Every 12 Months).

Upmetrics is, thus, one of the best business plan software with three pricing plans available depending on your requirements.

2. LivePlan

LivePlan is a highly regarded business plan software known for its user-friendly interface and comprehensive features. It offers step-by-step guidance to help you create a professional business plan with ease.

Key Features:

• Customizable templates and industry-specific examples
• Financial forecasting and budgeting tools
• Pitch deck and presentation mode
• Real-time collaboration and sharing capabilities
• Expert advice and educational resources

Pricing: Starts at $20/month for the basic plan, with more advanced options available.

3. BizPlan

BizPlan is part of the Startups.com network, making it an excellent choice for startups seeking investment. Its step-by-step approach and progress tracker tool keep users organized and on track.

Key Features:

• Connectivity to Findable for attracting financial investment
• Online educational programs for entrepreneurs
• Multiple owner access to a single account
• Lifetime access option available

Pricing: Monthly plan at $29/month, annual plan at $249/year, or lifetime access for $349 (one-time fee).

4. Enloop

Enloop is a cloud-based solution designed for creating business plans for investors, banks, and lenders. Its writing and text synchronization features streamline the business plan creation process.

Key Features:

• Free version for testing the solution
• Available in multiple languages
• Interactive PDF export
• Step-by-step guidance and templates

Pricing: Basic plan starts at $9/month, with more advanced plans ranging from $11 to $40/month.

5. GoSmallBiz

GoSmallBiz offers an online support system specifically designed for small businesses and startups in the United States. It provides valuable resources and educational materials to help aspiring entrepreneurs succeed.

Key Features:

• Access to up-to-date management information
• Unlimited access to online consultants
• Customer database for attracting and retaining customers

Pricing: Monthly fee of $39.

Features to look out for in your Business Plan Software

Before you can get started with deciding on what business plan software would work the best for you, you should know what to look for. So, what does one look for in a planning software when it’s supposed to do everything on its own?

Let’s start with discussing what features can be optimal for the best business plan software for your pick. While reading from a list of features you might find some contrasting ones and some that are even specific to certain software. However, there are some basic features that can be good to have in planning software for the best outcome.

Ask yourself these questions to check off some provisions of a specific business plan software. Make sure to interpret these requirements as per your specific case and business requirements.

1. What are the key features offered? Are there any planning provisions you are looking for in specific?
   The first and most obvious things to survey are the actual features the software offers and the elements you can include within your business plan. If you are looking for specific features such as budget tracking or risk management planning, you can consider options that provide these.
2. Does a financial plan/quick overview, etc come readily included along with an extended plan? Are these specific elements something that would benefit you in getting the project going?
   A range of best business plan software provides sophisticated options such as financial forecasting, progress tracker, and much more. It can be easy to get carried away with these. The trick is to analyze which of these provisions will be actually beneficial in your case, and then proceed to consider that option.
3. What are the industry-specific reviews for the software you are considering? Are they known to deliver great plans for your industry?
   Different planning setups tend to work for different industries. A restaurant business can benefit from a different set of templates than an IT business would. Researching a little bit about the reviews of the software you plan to use in your specific industry can help gauge how useful it has actually been for projects similar to yours. Does it provide a business plan template for your industry?
4. Who is going to use the software? Is it user-friendly and technically neutral for easy use by different members of the team?
   You also need to consider if the team members involved in the planning collaboration can easily use the software. Does it provide the benefit of team collaboration at all? Not all software does! If yes, are different technical and non-technical members going to be able to use it easily?
5. What is the customer care reputation? How likely are you to receive help with fine-tuning, altering, or even including additions to your plan at later stages after you have already made an initial investment for the plan?
   Once you invest in a paid business plan software, you might want to ensure that their customer care & support is up to the mark. Business planning is not always a one-time process. There can be iterations and fine-tuning required at each step, and it would be great to have customer care accommodating all these requirements.
6. What is your budget vs the software pricing?
   Last but not the least, what is your budget? You don’t want our business to start out on a loss by investing in software that lies way outside your budget. In fact, that would be bad ‘business planning’ to begin with! Find a business plan software with pricing comparable to your budget, that also includes a good mix of features that you are looking for.

How to Choose the Right Business Plan Software?

With so many options available, choosing the right business plan software can be challenging. Here are some key factors to consider:

Ease of Use

Look for software with intuitive navigation and a user-friendly interface to ensure a smooth learning curve and efficient workflow.

Industry-Specific Templates

Consider software that offers customizable templates and industry-specific examples relevant to your business sector.

Financial Forecasting Capabilities

Evaluate the financial forecasting tools and their ability to create accurate projections based on your business data.

Collaboration and Sharing Features

If you plan to involve multiple team members or stakeholders, prioritize software with robust collaboration and sharing capabilities.

Educational Resources and Support

Software that provides educational resources, such as tutorials, expert advice, and customer support, can be invaluable, especially for first-time business plan creators.

Integration with Existing Tools

Consider software that easily integrates with your existing platforms and tools, such as accounting software or cloud storage solutions.

Pricing and Scalability

Evaluate the pricing plans and ensure they align with your budget and long-term goals, considering the potential for business growth and scalability.

Key Takeaways

Choosing the right business plan software can significantly impact your business’s success. Upmetrics, LivePlan, BizPlan, Enloop, and GoSmallBiz offer a range of features to suit different business needs. Consider factors like ease of use, industry-specific templates, financial forecasting capabilities, collaboration features, educational resources, and pricing when making your decision. By leveraging the power of business plan software, you can create a compelling and comprehensive business plan that effectively communicates your vision and increases your chances of success.

Using business plan software streamlines the process, provides guidance, and ensures a professional outcome, making it an invaluable tool for entrepreneurs and small business owners.