A solid business plan is crucial for your business to succeed. It outlines your goals and serves as a navigational tool through market uncertainties. If you have just started your business, you’ll probably be struggling to create a business plan. Here’s where an AI business plan generator comes in. It uses machine learning to create business plans based on user input.
In this article, let’s take a look at the best AI business plan generators.
Table of Contents:
- Upmetrics (Most Advanced)
- ChatGPT (Best Free Alternative)
- LivePlan (Easy-to-Use)
- GoSmallBiz (Value for Money)
- Bizplan (Feature-Loaded)
1. Upmetrics (Most Advanced)
Upmetrics is a popular and reliable business plan generator with various features, including planning, forecasting, and strategy formulation. It also has a collaboration feature that helps your team work together on a plan. This tool has over 400 templates to help you draft your business plan. You can customise the style depending on your needs.
Upmetrics costs $9/month, but if you opt for a yearly plan, you can save 25% and pay only $7/month. They also provide a 15-day money-back guarantee.
2. ChatGPT (Best Free Alternative)
ChatGPT is a multi-purpose AI chatbot by OpenAI. It comes with various features such as business planning, idea generation, answering questions, and generating content. Since ChatGPT isn’t a business planning tool, it doesn’t come with templates. However, you can generate many ideas and write business plans.
The free version of ChatGPT is more than enough to do all the business planning. If you need more accurate answers or want to generate responses from images, upgrade to ChatGPT Plus, which costs $20/month.
3. LivePlan (Easy-to-Use)
LivePlan is an excellent business plan generator tool thanks to its user-friendly interface and robust features. This tool will simplify business planning, even if you’re completely new to the business world. It guides you through each step of the business planning process, from market analysis to financial forecasting. LivePlan has many templates and a Pitch feature that helps you showcase your business idea to investors.
LivePlan costs $20/month. However, the cost will be reduced by 25% to $15/month if you pay for the full year.
4. GoSmallBiz (Value for Money)
GoSmallBiz comes with industry-specific business plan templates and step-by-step guidance that helps you easily create a business plan. This tool comes with various features like market analysis and financial projection. Like other business generator tools on this list, GoSmallBiz has a scoring dashboard that lets you know your progress.
GoSmallBiz costs $15/month, but if you opt for the annual plan, you can save 30% and pay only $12.5/month.
5. Bizplan (Feature-Loaded)
Bizplan makes business planning easy with its interactive interface. It comes loaded with various features, including advanced financial forecasting and the ability to connect with a global community of entrepreneurs. You can also share your ideas with other people and get feedback. The additional features this tool offers boost your business success.
Bizplan costs $29/month. However, they also provide a yearly plan that reduces the price to $20.75/month and a lifetime plan that costs $349.
FAQs
What features should I look for in an AI business plan generator?
- Ease of use
- Customisation
- Data integration
- Collaboration tools
- Financial modelling
Why should I use an AI business plan generator?
- Time-saving
- Data-driven insights
- Customisation
- Professionalism
What are the drawbacks of using an AI business plan generator?
- Over-reliance on algorithms
- Limited creativity
- Accuracy and reliability
- Cost
Can AI business plan generators replace human expertise and consultation?
Business plan generators can save time and streamline the process of creating a business plan, but they can’t substitute human expertise. Experienced business coaches can provide valuable insights and guidance that complement AI tools. Also, human judgement and creativity are crucial to evaluate complex business strategies, market dynamics, and competition.
The Final Word
AI business plan generators streamline the business planning process and allow entrepreneurs to focus on what they do best. In other words, they save you time and help you turn your vision into reality. Whether you’re an experienced entrepreneur or a first-time founder, AI business plan generators will be highly beneficial.
If you’re a small business owner and need help with business planning or growing your business, get in touch with Ken D Foster. With over 30 years of experience as a business coach, Ken will thoroughly analyse your business, help you define a vision, and accelerate your pace of success. Ken is the man behind the success of hundreds of entrepreneurs and senior professionals in the United States.