There are many resources you can use, download, or buy at the store. You will spend a considerable amount of time researching, then writing business narrative section (Exective Summary, Business Description, Products/Services, Marketing, etc) this can take a few hours. But over 90% of people spend days on the financials section (Sales forecasts, Income/Expense, Break-Even analysis, etc). I'm a fan of using online resources to make things a little easier. Below are the top three I've used with my clients listing the advantages and disadvantages I've found with each. If you have other tools you wish to share please do do in the comments box.
SBA.gov Business Plan Tool
- Advantages: It's free to use, save, print, download, change, all free with no hidden fees. The Narrative sections are easy to use, just answer the questions in the box and it transfers them to a professional looking document (word or PDF). You can make it as simple as you want, it even gives you samples to each section so you have an idea of how it should read.
- Disadvantages: The Financials section has a standard template that cannot be modified, add or delete items. It's not easy to run the projections and break-even analysis. You cannot upload images, except for your logo on the first page. It does not create graphs, so the end document is not visually appealing. The system forces you to use a complex password that it is hard to remember (I still get locked out!).
SCORE.org Business Plan template
- Advantages: A downloadable guide as complete as complete can be. It has explanations for each section. It has added tools to work on financials and competitor analysis. If you are not in a rush, work through it and you will have
- Disadvantages: If this is your first plan, it can be overwhelming to go through the template, you may end up frustrated with the process, and give up before you begin.
LivePlan.com Business Plan:
