Importing tracks from another project

Is there a way to import an existing project into another? Say I have one project where I have set up a drum mix consisting of vst instruments and plugins etc. Then I start a new project and find out I’d like to have the same setting in that project too. How can I import those tracks there?

Should I save it as template? And can I use a template (or even multiple templates) in a project after it has been already created?