Legal Definitions - business plan

A business plan is a written document that outlines a new business or business idea. It includes financial, marketing, and operational plans.

For example, if someone wants to start a new restaurant, they would create a business plan that outlines their menu, target market, pricing strategy, and projected revenue and expenses. This plan would help them secure funding from investors or loans from banks.

Another example could be a tech startup that wants to create a new app. Their business plan would include details on the app's features, target audience, marketing strategy, and projected revenue and expenses. This plan would help them attract investors and guide their decision-making as they develop the app.

Overall, a business plan is an essential tool for any entrepreneur or business owner. It helps them clarify their goals, identify potential challenges, and create a roadmap for success.