Writing a business plan is a daunting task, but it's an important one. Most investors and lenders require you to see a business plan before they'll provide you with startup funding. But for many entrepreneurs, describing your idea in detail can be a burden.
AI tools can speed up the process of creating a business plan by providing a framework and initial content. However, you should still dig into the plan to ensure it accurately reflects your financial model, mission and vision, and other elements you're beginning to execute on. Think of the business plans generated by these AI tools as a starting point to help you perfect your plan.
[Read more: Writing a Business Plan? Here’s How to Do It, Step by Step]
Professional AI
ProAI is built to generate custom business plans that include financial projections, market research, and SWOT analysis. These detailed plans can be edited within the app or exported to Google Docs or Sheets for further editing. Simply answer a few questions about your business information and goals, and the AI will create a custom plan with financial information. Depending on the depth and level of customization required (determined in the initial process), the report can be ready in a few days. ProAI can also provide you with a pitch deck and business funding. Pricing for ProAI starts at $199 per month.
[Read more: 4 Effective Ways Small Businesses Can Leverage AI]
Simplification
Simplified offers a unique AI generator for small businesses. Like ProAI, you simply enter your small business details and objectives or work from one of the existing templates (gym, food truck, real estate services, etc.). Simplified's artificial intelligence can generate a market analysis, financial projections, and a clear value proposition for your plan. You can edit within the tool. The best part is that Simplified is free for up to 2,000 words.
Live Plan
LivePlan Assistant is the company's AI writing tool to help you write your business plan. This option allows you to select one of LivePlan's business plan templates and let the Assistant help you fill out each section. LivePlan's database of 550 free sample business plans is a great starting point. The Assistant's “Help Me Write” feature generates ideas for each section of your plan based on the information you provide. It also includes a financial projections feature. Pricing for LivePlan starts at $20 per month.
WriteCream develops a generic business plan that can be customized to fit your vision.
Upmetrics
Upmetrics' AI assistant can auto-write out sections of your business plan, adjust the tone of your content to make it more persuasive and professional, and reformat sections to make your plan flow better. Unlike other tools on this list, Upmetrics also offers well-designed cover pages to help your document stand out. The platform also lets you collaborate with different users on the same document, helping you stay organized and better coordinated. And instead of using set templates, Upmetrics has a drag-and-drop builder that lets you decide which sections to include. Upmetrics starts at $7 per month.
Idea Master
IdeaMaster uses ChatGPT-3 to create a pretty basic business plan. If you're looking for a short, two-page plan to share with investors before fully developing your concept, this is a good starting point. To get started, just tell IdeaMaster your industry and type of product. The plan includes the basics, such as market size, MVP features, value proposition, sales and marketing channels, and key resources. Best of all, IdeaMaster is free.
Writing Cream
WriteCream creates a generic business plan that you can customize to fit your vision. It's not as polished as some of the other tools on this list, so you can use it as a blank canvas if you have a great idea but don't have the time (or patience) to write an entire business plan. It doesn't have the features of some of the other tools, but it's affordable. You can use WriteCream for free for up to 10,000 words per month.
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