Frequently Asked Questions
How many people work for Joorney?
We are a 50+ person global team comprised of expert consultants and experienced Account Managers, Project Managers, Researchers, Writers, and Editors.
What languages can you accommodate?
We have 7 different in-house languages provided natively by our international team: English, French, Spanish, Portuguese, Russian, Hindi and Chinese.
What is your turnaround time? (i.e,. When will I get the business plan or other business document?)
Our team will make every effort to complete your project as fast possible while keeping the quality to the highest level. Usually delivery of the 1st Draft* is:
7-10 business days for most of our immigration business plans [except the SUV]
10-15 business days for non-immigration business plans
15-20 business days for Market Research, Financial Models and Other Custom Projects
RUSH SERVICE AVAILABLE
*All deadlines are calculated based on the day we receive the full information requested in our questionnaire.
What are the payment terms?
All our payments are upfront.
We can accommodate two payments for non-immigration projects depending on the package.
Do you have experience with different industries?
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.
Do you have operations in any other country aside from Canada?
In the U.S. we also handle visa business plans for their programs such as E-2, L-1, EB-5, and 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.
How long have you been in the market, globally and locally?
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.
What do you require from the applicants’ side in order to prepare the document?
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 experiences to their future plans for their Canadian business to make the strongest possible immigration case.
Why should I hire a business plan writing firm?
We know you have a lot of options when you need a business plan. There are countless reasons our clients choose us above the alternatives but the two most common are:
Expertise – You’re an expert at your business and we’re experts at business plans. We write business plans day in and day out, producing more than 3,000 customized business plans per year. Our dedicated team has collective expertise across 120 different industries. We know how to tailor each business plan to your exact audience, industry, and business model. Our final product is a professional, bullet-proof document that will increase your chance of success, regardless of your objectives.
Saves Time & Effort – Many of our clients are more than capable of writing their own business plans. However, writing a plan can take a great deal of time and effort. Often, one of the delays in applying for a business visa, bank loan, or commercial lease, seeking investor funding, and several other scenarios is creating the business plan. Hiring us keeps your timeline on track and removes an item from your busy to-do list. In most cases, we provide first drafts of business plans within 7-10 business days.
What is the usual process of developing a business plan?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.
What happens if I have to make changes/edits to the 1st draft?
All our immigration business plans have unlimited revisions [except for the SUV].
We offer 3 sets of revisions for non-immigration projects at no additional cost.
What type of file will my Business Plan come in?
We always draft and go through our revision process using MS Word documents. When the business plan is completed, we will design the document and provide the final version in a Word (.docx) file as well as a PDF.
I wrote my own business plan but I am not sure if it will work for immigration services, or if it is good enough to submit with an application. Can you help me with that?
We provide a Business Plan Diagnosis, in which we review the existing Business Plan and come back in less than 72 hours with our recommendations, and/or a quote explaining how we can support you.
What immigration programs need business plans?
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.
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.
How many business plans do you complete per year and how do you 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 large team of 50+ 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.
What is the scope of work for a business plan?
The scope of work varies slightly, as each business plan is aligned with the specific purpose, audience, or the 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.
What market research is included with a business plan?
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 business plan or to answer imperative questions. So, we also offer preliminary market research support for people looking to come to Canada or custom market research for any other type of inquiry.
What sources do we use to gather the market information for our business plans?
We conduct desk research using paid and free resources, which will vary depending on the industry. Our paid sources include Ibis World 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.
BUSINESS IDEA SELECTION
What is the Business Idea Selection service?
This is a service meant for hopeful business immigrants in Canada who want to start a new business, know what immigration path they want to apply under, and what investment amount they have to work with, but do not know what business they want to start.
How does the Business Idea Selection service work?
In order to come up with the best ideas for the candidate, we follow a 5-step process. This is a brief description of each step. More detailed information is provided in the questions and answers below.
Step 1 – Gathering Information – In addition to the applicant’s resume, we provide a thorough questionnaire to gather further information to fully understand the applicant’s background, interests, business immigration path, and investment amount.
Step 2 – Brainstorming Session – We prepare a long list of roughly 15-20 business ideas based on the initial information provided and meet with the applicant to narrow this list down to about 5 ideas.
Step 3 – Research & Evaluation – We conduct market research and thoroughly evaluate the top five ideas to determine the best 1-2 ideas.
Step 4 – Business Idea Selection Report – We prepare and provide a written report with our top recommendations, including the data that led us to those decisions.
Step 5 – Decision – The client makes the final decision of which business idea to pursue.
How do you narrow the long list (15-20 ideas) to the short list (~5 ideas)?
There are four main criteria used to narrow the long list. This includes the level of investment required, alignment to the business immigration program criteria, the applicant’s interest in the specific idea, and the risk/complexity of the business.
How do you narrow the short list (~5 ideas) to the final recommendations (1-2 ideas)?
The short-listed ideas are compared via a quantified evaluation matrix. Based on information from paid, trusted market research data sources like Ibis World, each industry is analyzed according to the following criteria which are weighted appropriately to result in a comparable score for each idea: revenue, profit, annual growth (previous 5 years), projected annual growth (upcoming 5 years), impact on jobs, competition level, capital intensity, technology change, regulation level, and barriers to entry.
What is included in the final Business Idea Selection Report?
The final report will cover in detail the selection process, including an Excel attachment of all selection and scoring criteria. It then presents detailed market information for the top ideas, including recommendations for locations in which to open the business, to facilitate the applicant making their decision.
Do you offer the Business Idea Selection service for all business immigration programs?
No. This service is only offered for the Provincial Nominee Program and LMIA Owner Operator program.
Do you choose the business idea for the applicant?
No. As the applicant is responsible for developing and running the business, the final decision must be made by them. We merely offer suggestions based on the applicant’s interest, background, market research, and an evaluation of the program for business types that are most likely to succeed.
Do you recommend existing businesses to purchase or franchise opportunities?
We only recommend new businesses to start. If the applicant is interested in purchasing an existing business or opening a franchise, they should work with a business broker.
How does Joorney help with the Start-up Visa?
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.
Do you provide other documents that may be needed for the Start-up Visa?
Yes, we can 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.
How long does it take? How many revisions do you provide?
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.
What is the importance of the business plan for the Startup Visa?
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.
Does Joorney carry out market research for business plan clients at no additional cost?
All of our Business Plans include an Industry Analysis, Market Analysis, and Competition Analysis corresponding to the details provided by the client. If you need deeper market research, we can provide it as a standalone document.
What if immigration applicants need help knowing what business they want to establish in Canada?
We find that immigration 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.
- 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!
How do we partner with consultants and lawyers?
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 – go 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.