In Canada, we work closely with immigration consultants and lawyers to help their business immigration clients produce the documents they need to complete their visa applications. When interacting with new or potential partners, we’re routinely asked the same questions. In order to address these questions and clarify the regular curiosities of our partners, we put on a webinar to cover it all in-depth. Below is a recap of the top six questions and answers, along with the accompanying video clips going into more depth.
Q: How do business plan writing companies work?
A: Generally speaking, we work directly with a business visa applicant and/or their immigration consultant or lawyer. We take down all the information about the particular business to prepare a solid and professional document that combines and presents the business in a structured, logical way. We also ensure the business plan is aligned with the requirements of their particular program.
How we handle the volume: Our volume is very high as we do roughly 3,000 business plans every year. We’re able to handle this volume efficiently and effectively due to our streamlined process and a large team of 40+ people, including 5 project managers (PM) and 20 writers. Due to our volume, we have gained a great deal of expertise that allows us to adapt the business plan to any industry or business model type. Each business plan team is determined by the program and industry, and the expertise of the PM and writer. This allows us to offer a complete, personalized service that is usually done in 7-10 business days.
The scope of work: The scope of work varies slightly, as each business plan is aligned with the specific immigration program requirements and the applicant’s immigration strategy. In general, our business plans include an overview of products/services, industry analysis, market overview, competition analysis, sales & marketing plan, personnel plan, investment allocation, and 5-year financial projections.
Focus on the business plan and market research: Within the business plan, we complete the market analysis section, getting into location selected, demographics, and the competition. However, several applicants need deeper market research to help them prepare to complete the full plan. So, we also offer preliminary market research support. This service provides extensive research and can help applicants determine things like pricing, what would be the ideal location, and how the business model should be structured.
Q: How do we partner with consultants and lawyers?
A: Our partnership opportunities come in three different forms:
Outsourcing Partner – As an outsourcing partner we serve as part of your internal team. Typically, the consultant or lawyer includes the business plan as part of their package, and all communication – including the contract and invoice – goes through the partner. We do not have direct communication with the client and can even provide the questionnaire and other documents with your logo and branding.
Back Office Preferred Partner – In this scenario we work directly with the client but the contract and invoicing goes through the partner. We serve as the back office like in the outsourcing option, but in this case we do deal directly with the client instead of all communication going through the partner.
Referral Partner – Some partners just make an introduction or refer their client to us and we work directly with the client. This includes directly invoicing the client. Once we receive the questionnaire and get started on the business plan, we involve the partner to make sure we have the legal insight and align the business plan to the overall immigration strategy.
We’re also often asked about our partner pricing. We offer a 10% discount for partners that send us more than 3 projects per month.
Q: What immigration programs need business plans?
A: The following immigration programs need business plans:
- Provincial Nominee Programs (PNPs) – Each PNP has its own guidelines and we always deliver documents that adhere to the detailed requirements of the specific program. The most popular are the OINP and BCPNP, but we can handle any of them. We also provide Business Concept assistance. The business concept is required in the first step of some of the PNPs when submitting the initial expression of interest. We help applicants understand and maximize their potential score. This score is what determines whether or not they will be invited to apply.
- Intra-company Transferee
- Labour Market Impact Assessment (LMIA) Owner Operator – This includes the C10/C11 significant benefit exemptions.
- Self Employed – Although a plan is not required, it is recommended.
- Startup Visa
Q: What if applicants need help knowing what business they want to establish in Canada?
A: We find that clients tend to fall into one of three categories, and we are able to help at any stage.
- No business idea – Many clients know they want to come to Canada and know how much they can invest but don’t know what business they want to start. In this case, we offer our business idea selection service to help them to determine the business idea that is right for them and that has the best chance of being approved. This is meant for PNP or LMIA applicants. Review our Q&A on the business idea selection service for more information.
- No market information – Some clients know what they want to do but need more information on how the Canadian market works to be able to properly plan their business. We can assist these clients with our preliminary market research which provides detailed market research and analysis so they can choose the best location and right business model. This increases their chance of application and overall business success.
- The client is Ready – Many clients come to us already knowing their business idea, their location, and their overall strategy, have conducted basic market research, and are ready to get to the immigration business plan and start their journey. This is our focus and we’re ready to help, regardless of the immigration program!
Q: How does Joorney help with the Start-up Visa?
A: The Startup Visa has become quite popular recently. In addition to the business plan for the visa application, we also develop business plans to help startups obtain the required letter of support. This letter of support must come from an approved incubator, angel investor, or venture capitalist known as a designated organization. Certain designated organizations require specific packages for application which require the business plan in a specific format and may also require other types of documents.
In order to help ensure startups receive the funding they are seeking, we also provide:
- Pitch Deck – This shorter, more visual document can be used to help increase initial interest, and is especially useful as an introduction to complex business models.
- Financial Model – Investors may also want to see a soft valuation of the business with cash flow projections, as well as exactly what you’re asking for and what you’re offering them in the return. Our advisory experts can help by creating the financial documents they expect to see.
- Designated Organization Introduction – We have good relationships with some of the designated organizations and can make an introduction.
Note: We do not take care of obtaining the letter of support but we do prepare the pitch deck, financial models, and business plans, and can make an introduction.
Learn more about how we help with Start-Up Visas
Q: What is the usual process of developing a business plan?
A: After the initial screening to establish which business plan you need, we send the contract and invoice and then proceed to follow a five-step process:
- Questionnaire – We send a detailed questionnaire tailored to the specific type of business plan. This includes questions about the details of the business, the business model, and the business strategy. We will also request copies of other pertinent documents like their resume/CV, lease agreements, partnership contracts, etc.
- Review – A project manager is assigned and reviews the questionnaire to confirm we have what we need and if necessary, follows up for additional information.
- Writing – The business plan is then written (7-10 days for most visa types) and the first draft is submitted.
- Revisions – We revise the plan until it meets your expectations. We offer unlimited revisions on most visa types.
- Deliver – After the content is approved, the plan is sent for final proofreading and design, and then the final product is delivered.