A business plan is a written document that serves as a roadmap and blueprint for how to structure, run and grow your business brand. It describes in detail how a business is going achieve its goals. It is an expression of the entrepreneur’s vision in black and white.

A Business Plan is also a road map that provides directions so a business can plan its future and helps it avoid bumps in the road. The time you spend making your business plan thorough and accurate, and keeping it up-to-date, is an investment that pays big dividends in the long term

The question is why do I need a business plan? The answer is that you significantly increase your chance of success if you significantly increase your chance of success if you chart your course with a written business plan

A detailed business plan can provide two distinct benefits

• First, it can serve as the vehicle to convince potential investors or lenders to provide the financial support needed to start or expand your business
• Secondly, it can serve as an important management tool, providing a blueprint and step by step instructions for transforming your ideas into a  profitable business ,providing goods and  services to your target market

BENEFITS OF A BUSINESS PLAN

• To know the exact set-up budget you need to start your business.
• To ascertain if your business idea is profitable through break-even analysis
• It comes with a marketing plan that shows you how to grow your customer base and generate sales
• The Business plan is a fundraising tool that has the capacity to attract investors, grants and loans
• Having a business plan ready shows your potential investors and partners that you are serious about your business vision and goals
• It helps you clarify your business idea
• Help you access the right opportunities faster
• Help you keep track of your business growth
• Helps you follow up with your goals and milestones
• Help you get investors faster
• Separates you from those that have their idea stored in their head
• To know the exact set-up budget you need to start your business.
• To ascertain if your business idea is profitable through break-even analysis
• It Comes with a marketing plan that shows you how to grow your customer base and generate sales
• The Business plan is a fundraising tool that has the capacity to attract investors, grants and loans
• Having a business plan ready shows your potential investors and partners that you are serious about your business vision and goals
• It helps you clarify your business idea
• Help you access the right opportunities faster
• Help you keep track of your business growth
• Helps you follow up with your goals and milestones
• Help you get investors faster
• Separates you from those that have their idea stored in their head

                  
A standard business plan should consist of the following:

• Executive Summary
• Objective  
• Vision & Mission                   
• Key Success Strategy
• Start up summary
• Company Ownership
• Market Analysis
• Market Segmentation
• Target market
• Strategy and implementation 
• Operations management        
• Swot Analysis
• Marketing plan
• Competitive Advantage
• Management Summary          
• Personnel plan
• Financial forecast
• Profitability
• Break-Even Analysis              
• Summary