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"Downloadable business plans may have dated market prices, making the budget inaccurate.If you're looking to get money from investors, you need a customized business plan with zero errors." Janil Jean, head of overseas operations at said that free templates offer limited customization (such as company name, some text, etc.) and are used by a ton of people, so chances are, if you are using that to secure funds, investors might be tired of seeing the same business plan format.
You'll find templates for general businesses as well as specific templates for restaurants, bakeries, hotels, startups, coffee shops and salons.
Once you sign up for the free trial, you can customize it to fit your business needs by adding photos, pricing tables, videos and a theme that fits your branding.
Invoice Berry also provides marketing plans and executive summaries you can insert into your business plan.
The pro of going the free route is that, well, the templates are free.
The benefit of paying for business plan templates, or paying for having your business plan reviewed, is the accuracy of information and customization.
"Your audience gets thousands of applications per day.The template starts with an executive summary and then guides you through the other elements, including the financial plan, company overview and more.There's also a step-by-step guide for writing a business plan, and Bplans provides a library of sample business plans to ensure you're on the right track.Once you're done, you can send it out and track opens and views through Panda Doc.Invoice Berry is primarily an invoicing and tracking platform, but the company offers free business plan templates for freelancers and small businesses.Each section includes instructions explaining the type of information you should enter.In addition, the template includes a SWOT analysis and optional technology plan.The eight-chapter template explains what information needs to go in each section and why.With Panda Doc, you can sign up for a 14-day free trial and then gain access to its templates.Plans are for Word, Excel, Open Office and Power Point, and can be downloaded directly from the website.They also provide a business plan checklist to ensure you're including all the right information.