Our business plan template includes all the essential sections that Canadian banks look for. We’ve created business plans for clients in various industries, including construction, food services, health care, oil and gas, manufacturing, consulting, etc. Our business plans have been accepted by all major Canadian banks and lending institutions, including TD, RBC, CIBC, ATB, Scotiabank, etc.
Why is a business plan important? Here are the top 6 reasons:
Act as a roadmap
Your business plan will help you think through all the details of running your business; therefore, it will act as a guide through every stage from the startup phase to when your business is fully operational.
Help you apply for funding
No bank or other lending institution will award you funding without seeing a full business plan with 3 to 5-year financial projections. They will want to see on paper if you have thought through your business and if the business will be profitable.
Know how to allocate resources
Your business plan will guide you in resource allocation. As you work on your financial projections, you’ll see what resources are fixed, which ones are variable, and how they impact your revenues.
Create a marketing strategy
To attract your potential customers, you’ll need to market your business. Your business plan will help determine your target market demographic and how to reach out to them through various forms, including traditional channels like newspapers, brochures, trade shows, or online platforms, including social media. You will need to conduct market and competitor analysis and determine your value proposition.
Determine if you will need to hire staff
You’ll create your operational plan and determine if you will need to hire staff for your business. You will need to highlight your management team as well.
Set milestones
A well-written business plan will help in setting goals and milestones and will keep you accountable for achieving your business vision and keeping you on track to ensure you meet your deadlines.
It’s advisable to get support from a business plan consultant who will take you through every step in developing a business plan that will impress lenders and get you the funding you need to start and run your business. At Vaisus, we have helped our clients bring their ideas to life and helped them build customized business plans appropriate for their type of industry. Contact us for more information.
Download our free business plan template that includes all sections required by most Canadian banks.”
