A business plan can help you think through the details of starting, running, and growing a business. It gives you a chance to evaluate potential obstacles and other opportunities you might have missed. It’s a way to think out, set, and review long-term goals for the business and to come up with strategies to reach those goals. Most lenders will require that you have a business plan if you are looking for funding for the business.
The SBA offers free templates on their website. Visit their website for more information.