How To Make A Business Plan For Free?

Beginning a business requires a ton of venture. So if your spending plan is restricted and you would rather not spend a fortune to make your field-tested business plan or strategy, we have an answer for you! This is the way to make a free field-tested strategy.

Create A Business Plan For Free: Is It Possible?

Indeed! Be that as it may, we caution you: you must take care of business! Planning a marketable strategy without utilizing paid instruments can take time. Assuming you pick this way, you have the opportunity and energy to devote to it. Yet, it is additionally a benefit for your business creation project since you will drench yourself in it completely! 

Because of these hours spent dealing with your strategy, you will know your subject from top to bottom. Recall that a marketable strategy is comprised of different components :

1. A summary of your business project (“executive summary”)
2. A description of your project
3. The presentation of your team
4. A market study 
5. Description of your product or service
6. Your business model
7. Financial data
8. The legal structure was chosen by the company

These elements form the basis of any business plan. You can of course include other information if you consider it necessary to describe your business creation project.

Tools To Make A Free Business Plan

Free Templates

The writing part of the business plan can be easily written by the entrepreneur using a simple word processing software like Word or Pages and his brain. To help you, you can download free plan templates to fill out on the web:

1. Independent.io
2. Hubspot, etc.

Please note that there are also paid business plan models at low prices (between €10 and €100). On the other hand, the part of the plan including the financial forecast is more complicated to do alone if you do not have solid skills in this area… And this, even with a model in Excel format! In particular, it requires integrating:

1. A cash flow plan with cash receipts and disbursements;
2. An income statement showing the profits of the first years;
3. A financing plan for projected expenses…

To avoid errors, we recommend that you use specific applications that allow you to make your financial forecasts without (too much) hassle. And good news, some are free!

Free Software And Applications

There are also applications and software allowing project leaders to create their business plans for free AND easily. Here are some free tools to build your business plan:

1. The Propulse by CA online and free business plan tool ;
2. CCI Business Builder of the Chamber of Commerce and Industry (CCI);
3. Entrepreneur Pass from the public investment bank (BPI).

The big advantage of this business plan software is to guide you step by step in developing your business plan. They allow you to benefit from a tested and approved structure and take the work out of you. And, they provide you with advice on finalizing a realistic plan. They also limit errors and inconsistencies because they automatically generate financial tables. We can only advise you to use one of them if you choose to create your plan alone.

Our Advice For A Successful Free Business Plan

Creating your business plan using software or free models while being alone in charge can be difficult. Here are our tips to avoid getting tripped up:

1. Be rigorous: structuring your business plan while respecting the proposed framework makes it easier to read and ensures its clarity. Pay attention to the accuracy of the calculations and information presented;
2. Get advice: doing your business plan for free has its limits. Your first draft may require further elaboration as you progress with your project. Do not hesitate to seek advice from experts to refine your project or to help you move forward if you are stuck.

Read Also: Can You Create A Start-Up On Your Own?