What Is a Business Plan?

"What is a business plan?" is a reasonable question if you are being asked to write a plan for the first time. If you are not sure how to go about writing a business plan, this can be answered in two ways:

You may want to start with the goal in mind and craft a document to achieve the goal.  This top down approach would mean you are making a business plan to document whatever is required to make you, your lender, your franchise and any other significant audience, confident that you have a profitable business opportunity and will have adequate skills and resources to make your business plan come true.

Typical answers you may seek when asking "what is a business plan? include:

What is in the minimum business plan?

Why do I need to write a business plan?

How do I format a franchise business plan

What is in the business plan competitive analysis section?

What is different in a franchise business plan outline?

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