Is It A Good Planning Software?
Last Updated: By TRUiC Team
Having a business plan is essential to running a successful startup, but it can be difficult to know where to begin -- especially if you’re new to the world of entrepreneurship.
That’s where business plan software like StratPad come in to educate, troubleshoot, and make the business planning process much more streamlined.
In this StratPad review, we’ll dive into their pricing and features, customer reviews, how they compare to other providers, and more to help you decide whether or not they’re the right provider for your business. But first, let’s look at some pros and cons of using their services!
Recommended: Read our review of the best business plan software tools.
Pros & Cons of StratPad
Pros of StratPad
- Educational: Workshops, video tutorials, interactive webinars, downloadable business toolkits — you name it. StratPad is here to educate, not just sell.
- User-friendly: Their approach is an intuitive step-by-step process with detailed explanations at every turn.
- Automated: StratPad automatically generates charts, graphs and appendices for you based on the information you provide. They also allow you to sync with QuickBooks to make data entry easier.
- Cloud-based: The software is cloud-based and compatible with any OS. Many entrepreneurs choose cloud-based programs to ensure their data is secure and accessible.
- Free: The free version is a great way to get a sense of whether or not you like their services, and ultimately, it’ll allow you to build a basic business plan.
Cons of StratPad
- If you’re already somewhat familiar with the business planning process, you might find their step-by-step guidance and tutorial videos overbearing.
- StratPad isn’t the cheapest service on the market. Their services cost $29.99 mo, while providers like LivePlan only charge $19.95/mo.
StratPad Pricing & Features
In addition to their free plan, StratPad currently offers two paid package options: Business and Unlimited. Each package is designed for a different set of circumstances, so let’s take a look at what each one has to offer:
The free subscription is designed for students and small startups. It enables you to create one business plan and gain access to a ton of educational materials. Again, StratPad is super dedicated to educating people, so that’s why they created a free package. That said, it definitely lacks some of the features you’ll want if you’re using their services long-term.
When to Use: The free subscription is best for just getting a sense of StratPad’s services -- we don’t recommend depending on it for the long-haul. It can serve as a great educational tool in the early phases of your startup, and will definitely help you decide whether or not you like their platform.
Business = $29.99/mo
The Business package is a step up from the free subscription. You’ll get unlimited email support, the ability to share plans with team members, and the opportunity to create up to 5 business plans. Along with that, both paid packages include a step-by-step video course, free updates and charts for tracking results.
When to Use: This package is best for small businesses and startups. We think the Unlimited plan is excessive for most small businesses, while the free subscription doesn’t have quite enough to offer. The Business package is the happy medium, both in terms of price and features.
Unlimited = $49.99/mo.
The only difference between the Business and Unlimited packages is the number of business plans you’re able to create. While the Business package offers 5, Unlimited allows (you guessed it) an unlimited amount.
Note: If you’re an educator who’s interested in using StratPad in your curriculum, you can get StratPad Unlimited for free by applying through their Educators page.
When to Use: This plan is really designed for advisors and educators -- not small businesses. The Business package already offers startups and small businesses plenty of flexibility by including up to 5 business plans.
If you choose to try out StratPad’s services, we recommend taking advantage of the free subscription first to see how you like it. From there, if you decide to commit to a paid plan, the Business package is the best way to go. The Unlimited plan simply isn’t necessary for small businesses.
Note: Paying annually will save you $10/mo.
Unfortunately, StratPad’s only customer reviews – outside of their own website – are about their iOS app. See the rating breakdown below:
Customer Reviews as of: 9-14-2017
- Apple App Store: 4/5, 68 Ratings
- Google Chrome Store: 3.4/5, 16 votes
So, their average rating is about four stars, but they still have their share of unhappy customers. The majority of their negative reviews are from folks who felt that the free version wasn’t super effective, and were required to upgrade to get the value they were looking for.
That said, they’ve also got plenty of satisfied customer testimonials. It really seems to depend on what you’re expecting from the software going in, which is why we recommend trying out the free subscription before paying for their services.
How Does StratPad Compare?
StratPad offers a unique approach to business planning. Rather than being an all-in-one toolkit, it’s intended to be a “pad” where you “strategize”. Point being, their education-focused platform simply isn’t for everyone. To give you an idea of how they compare, let’s stand them up against one of their most popular competitors: LivePlan.
Pricing: LivePlan is definitely the better bargain. While StratPad’s Business package costs $29.99/mo, LivePlan charges only $9.95 for the first month and $19.95 for every subsequent month.
Features: Looking at the sheer amount of features offered, LivePlan wins again. Their platform allows you to run the numbers, prepare your pitch, compare your plan against industry benchmarks and much more -- and unfortunately StratPad simply doesn’t have this level of sophistication.
Customer Service: Both companies have phone and email support, and LivePlan also offers live chat. In our experience, LivePlan’s customer service tends to be much more responsive than StratPad’s.
Number of Businesses Served: We haven’t been able to find out how many individuals and businesses StratPad has served, but we do know that LivePlan has over 500,000 users.
HERE’S A QUICK VISUAL
500,000+ Businesses Planned So Far
Perfect for: Anyone wanting a full featured business plan software that walks you through the entire process
Pricing Free - $49.99/month
Unknown Businesses Planned So Far
Perfect for: Anyone wanting a simple software with the ideal features to just get your thoughts organized
Frequently Asked Questions
Are StratPad’s Services User Friendly?
Yes, but keep in mind their system is geared toward education -- not simply plugging in factoids and printing out documents. If you don’t understand what you’re signing up for, you might end up feeling a little disoriented.
What About Ongoing Support?
They’re available Monday through Friday from 8 a.m. to 6 p.m. to answer any of your questions via email or phone.
What’s Their Return Policy?
They don’t include a detailed return policy on their website, but they do say if you’re ever unhappy with your services you can shoot them an email at email@example.com and they’ll help you sort everything out.
Is There are Trial Version?
No, but we recommend treating the free version like a trial. It’s great for getting a sense of their services, but not sustainable for long-term use.
Should You Use StratPad?
Based on everything we’ve discussed in this review, we’ll give StratPad a rating of 4.1/5 stars. They offer a unique and innovative approach to business planning and a ton of valuable educational material for new business owners. That being said, if this doesn’t sound like your perfect fit, check out our Best Business Plan Software reivew. Cheers!