Using a business plan template for small business planning is a good way to start without having to spend a fortune hiring a professional to do it for you. If you’ve decided to start a small business in Canada a business plan is one of the first things you should consider completing

As the Canadian economy is up and down, starting a small business can get expensive and as a business owner you want to save every dollar, so getting into the business DIY phase (do it yourself phase) is one of the newest trends.

While writing a business plan on your own can be hard, boring, confusing and simply painful there are always options out there which you can take on.

Before we discuss these options, let’s get into the basics of business planning and creating a business plan for your small business using a business plan template.

What is a business plan template?

First of all, a business plan, often refereed to as a business startup proposal or a outline is simply a document that business owners/entrepreneurs compile which outlines the goals of the business, the marketing strategies one will use to grow the business, show cases the financials of the business and lays out the basic operation aspects of running the business. Many small business owners starting  up opt to go with a business plan template early on in order to lower their initial startup costs.

Having a well prepared business plan with or without using a business plan template helps build a better company as the goals of the company and the strategies are per-determined and it’s easy to direct the business to obtain the desired out come, or success.

If you need more information on writing a business plan for your own business read Creating the Perfect Startup Business Plan.

Using a Business Plan Template

There are a ton of business plan templates available on the web, a simple search on Google will result in some great options for you looking to start up and create your own business plan for your business.

You would be able to find business plan templates for the following types of businesses:

• Retail Business Plans Templates
• Farming and Agriculture Business Plan
• Construction Business Plan
• Professional Services Business Plan
• Manufacturing Business Plan Templates
• Food and Accommodation Business Plan
• Finance and Insurance Business Plan
• Real Estate Business Plan
• Wholesale Trade Business Plan
• Information Technology Business Plan
• Art, Entertainment and Recreation Business Plan Temlates
• And many other business plan templates

Here is the kicker though.

Not all business plan templates are right for you to use and may not be right for the purpose of your business plan.

Certain business plans may be created to help find partners, funding or investors while others maybe used for training, company wide mission statements, for sale of business..etc

With that in mind, it’s important to find the perfect business plan template that will be right for you.

The Business Plan Builder Tool available via Canada Startups is an excellent business plan template tool which will allow you as the business owner to work your way though building your business plan step by step, with guidance and quality score tracking as you fill in the blanks.

Take a moment now to learn more about this business plan template tool and see if you can use it for your very own small business.

Filling Out a Business Plan Template

With any business plan template you may get more or less data to fill out so it’s important to find the template that you’re going to use for the right purpose.

Many inclusions in a business plan template may not be relevant to your business and are entirely optional (as templates are made to fit everyone general needs), you should definitely have an understanding of the basics business plan needs you should focus on.

These should include:

• Explaining your industry
• Discussing the company structure and legal formation
• Explaining the management structure of the business
• Showcasing your marketing strategy
• Discussing your SWOT (strengths, weaknesses, opportunities and threats) -> think competition.
• Detailed operational details
• Staffing requirements and information of members
• Financials (current situation, financial needs and forecasting)

While it may seem difficult to come up with all of the above to include in your business plan as a startup, they are necessary.

Do reach out to our experts to get help with writing your small business plan.

Should You Use A Business Plan Template?

Using a business plan template is a good idea.

If you plan on starting a business in Canada, you will need a business plan. Your options are to write one yourself from scratch, hire a professional to write one for you (this can cost from $1,500 to $5,000), or you can use business plan tools and business plan templates to get it done on the cheap.

As a business startup if you’re developing a new business, including applications, products or services, you need a business plan.

If you’re planning on incorporating or registering your business, getting any funding (bank, private or government funding agencies), looking for a partner, evaluating the pros and cons of a new business idea, you would need a business plan.

In other words, if any of the above apply to you, you could benefit from using a business plan template.