As the most reliable business plan writing and business document preparation company in Canada and the United States, we have over 1,000 partners and are continuing to grow. We find that many of our partners, as well as many of their clients that we serve, often have similar questions for us.
We recently sat down for a webinar with one of our valued partners, Top100Startups in Canada, to answer some of these questions. Top100Startups is a company focused on helping entrepreneurs transform their ideas into thriving businesses in Canada by connecting them to the resources they need. Specifically, for Startup visa applicants, they help them obtain their Letter of Support from designated organizations.
In the case of this particular partner, we take on writing the business plans for their startup clients, including immigrants seeking to enter Canada through the Startup Visa program. Top100Startups trusts and relies on us to produce successful, investor-ready and immigration-ready business plans time and time again.
Below are clips from that conversation, answering some of the most common questions we receive from partners and direct clients. Whether you are a business consultant, immigration consultant, immigration lawyer, entrepreneur, or business immigration applicant, this information will answer some of your top questions and help you get to know what services Joorney offers as well as what makes us unique.
Q: Do you have experience with different industries?
A: The unique ideas that are coming through the Startup Visa are usually very complex. A lot of them are in technology, biotech, and science. Due to the volumes that we handle, the team is very well versed in an array of industries. It doesn’t really matter what industry you are in, we have the capacity of receiving the information and making sure that the outcome is a business plan that is suitable to get the Letter of Support and go through the immigration process.
Q: Do you have operations in any other country aside from Canada?
A: In the U.S. we also handle visa business plans for their programs such as E-2, L-1, EB-5, EB-2. In France, we’re mostly handling business plans for investors and bank loans, which we also offer in U.S. and Canada. We’re also looking into expanding into Australia and the U.K.
Q: How long does it take? How many revisions do you provide?
A: The Startup Visa usually takes 10-15 business days from the time we get all the necessary information from the client and includes 3 revisions. Less complex business plans like LMIA Owner Operator, Provincial Nominee Program, or Intra-Company Transfer are done in 7-10 business days and have unlimited revisions.
Q: How long have you been in the market, globally and locally?
A: The business began 8 years ago with immigration business plans in the United States. In Canada, we’ve only been in operation for 4 years but, due to our volume, have gathered a vast amount of knowledge and expertise.
Q: Tell me more about your team and the volume you handle?
A: We have 20 writers and 5 project managers. Each business plan is assigned a dedicated project manager who handles all communication with the client. In terms of volume, we handle around 3,000 business plans a year.
Q: What about Market Research?
A: We have two different types of market research:
- Market analysis for the business plan – We conduct market research to complete the market analysis section of the business plan. We analyze the location, in terms of things like competition and pricing.
- Preliminary market research – This is for people who are not ready for the business plan yet and are considering emigrating but want to know more about how their business idea could fit into the current Canadian and/or specific provincial market. Our market research department will do in-depth research including pricing analysis, desk research, surveys, and mystery shopping to help them gauge how successful their business could be.
Q: What do you require from the applicants’ side in order to prepare the document?
A: The standard requirement is a resume and a very detailed questionnaire. The questionnaire covers more information about their background and very specific questions about their business idea. This is how we connect their past experience to their future plans for their Canadian business to make the strongest possible immigration case.
Q: What is the importance of the business plan for the Startup Visa?
A: The business plan is one of the most important aspects of the application. It is the way to acquire the Letter of Support and how you explain the project that is being proposed to Canadian Immigration. It covers the core requirements of the Startup Visa by demonstrating that the idea is unique, globally scalable, and will create jobs in Canada.
Q: What is your usual process to prepare a Business Plan for an applicant?
A: Once we confirm the purpose of a business plan and have a signed agreement we follow a 5-step process:
- Questionnaire – We provide the applicant with a questionnaire to learn more about them and their intended business.
- Review – A project manager is assigned, reviews the information, and asks any additional questions.
- Writing – We write the business plan and send the first draft.
- Revisions – We get your feedback and incorporate it in the plan until it’s just right!
- Deliver – It is sent for final proofreading and to a designer to finalize the document.
Q: What sources do we use to gather the information for our business plans?
A: We conduct desk research using paid and free resources, which will vary depending on the industry. Our paid sources include IBISWorld and Statista. We also have Canadian statistics specific to each location we are analyzing. This allows us to complete the industry and market analysis sections of the business plan and make sure that we provide everything immigration officers expect to see.