Question by  SickLemon (12)

What is a business plan?

I have been told I need a business plan but I am not sure what one is.


Answer by  twest (28)

A business plan is a written document that outlines the steps that will be taken to ensure the business is successful. It should include how to deal with cash flow issues, when and how many employees to hire and where to buy the supplies needed for the product being sold


Answer by  gkimmer (10)

A business plan is a roadmap that shows shows the mechanics of how a business will be started, what will be done with the available funding, and how that funding will be repaid. I have done these plans for $60 million of firms.


Answer by  flamiss22 (5081)

Assuming you need this information to apply for funding you will need to present clearly what your ultimate plans are. It will show your ideas, how and when it can be profitable, your profit margin, future growth and if applicable rent or leasing information.


Answer by  tamarawilhite (17883)

This lists your product, your market, the demographics of your market, a description of your sales method (store, online, mixed), sales channel (direct to public, distributor, business to business), your profit per item, a list of your financing sources and how much money you need to start and to continually run the business.


Answer by  Marie (778)

A business plan is a formal written document that describes your business: the idea, the competition and market conditions, your operations, how you'll market yourself, and your financial estimates. Business plans are used when meeting with banks and potential investors -- they use the information you provide to decide whether to give you money or not.


Answer by  jon6 (488)

This has all the details of your business idea on paper. It's kind of like a blue print for your business.

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