best way to create a new template

So I have read the instructions on creating a template -- which essentially seems to be saving an existing project as a template. However, most existing projects have not only layout and design decisions baked in but also content. As a practical matter, if you want to save a project as a template, as a convenience to those who may use the template, you  will have to strip out all of your own content first, correct? If so, that is potentially time intensive. What is the best approach if you want to create a new template for several modules that more than one instructional designer will be using before it ever becomes a finished project? Do you create master slides with every potential layout you may need, and then insert those as new slides but not put any content on them, then save as a project and then resave as your template? It seems to be somewhat of a round about process.