{"id":5152,"date":"2016-04-04T10:47:57","date_gmt":"2016-04-04T15:47:57","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/starting-a-business\/creating-a-business-plan.html"},"modified":"2026-05-11T15:40:00","modified_gmt":"2026-05-11T20:40:00","slug":"creating-a-business-plan","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/starting-a-business\/creating-a-business-plan.html","title":{"rendered":"Creating a Business Plan"},"content":{"rendered":"\n
\n

Creating a Business Plan<\/h1>\n\n
\n
\n By FindLaw Staff<\/a> | Legally reviewed by Catherine Hodder, Esq.<\/a>\n | Last reviewed\n
\n

Editorial Note: We earn a commission from affiliate partner links on FindLaw. Commissions do not affect the editorial integrity of our legal content.<\/p>\n\n <\/div>\n \n

\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
\n

This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

\n \n <\/i>\n Fact-Checked\n <\/summary>\n\n
\n

The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

\n

A business plan is a document that defines a company\u2019s goals and the specific strategies to achieve them. A comprehensive business plan includes an executive summary, market analysis, financial projections, and organizational structure. A business plan helps entrepreneurs secure financing, loans, or investors.<\/p>\n\n <\/div>\n\n\n\n

Every successful small business<\/span> needs a business plan<\/span> that maps out the company\u2019s future. The business plan<\/span> helps keep everyone in the organization on the same page about the small business<\/span>\u2019s goals. It also serves as your company\u2019s resume and can attract investors and capital. Having a clear vision that includes your pricing<\/span>, mission statement<\/span>, and financial projections<\/span> will help your business succeed.<\/p>\n

This article reviews the benefits of creating a business plan<\/span> and how to get started on a business plan<\/span> for your company. Other articles in this section can help you nail down the details. To learn more about starting a business in your area, consult with a local\u00a0business attorney<\/a>.<\/p>\n

Ready to form your LLC with confidence? Our trusted partner LegalZoom has packages starting at $0 + filing fees.<\/a><\/i><\/b><\/p>\n

Why Write a Business Plan<\/span>?<\/h2>\n

Small <\/span>business<\/span> owners<\/span> feeling strapped for time may ask: \u201cDoes the law require me to write a business plan<\/span>?” The short answer is: \u201cNo, it does not.”<\/p>\n

A business plan<\/span> is not a legal document. It\u2019s a tool business owners<\/span> use to increase the odds that their business will be a success.<\/p>\n

Prospective entrepreneurs<\/span> must make many decisions about their businesses before they can open their doors to the public. Writing a business plan<\/span> forces a new business<\/span> to go step-by-step through difficult questions and do their own research. It requires you to think about business structures<\/span>, marketing strategies<\/span>, and financial forecasts. You will need this information to make good business decisions.<\/p>\n

Your business plan<\/span> will also provide a roadmap<\/span> that keeps your business on track to meet its goals. Where do you want to be in three years? In five years? It should be in your business plan<\/span> with any important milestones you hope to reach.<\/p>\n

A business plan<\/span> is essential if you are seeking investors and capital. Use your business plan<\/span> to sell your business idea to potential investors. Include all the market analysis<\/span> and financial information an investor needs to get excited about your business venture.<\/p>\n

Types of Business Plans<\/span><\/h2>\n

Most business plans<\/span> follow a template and include the same\u00a0content<\/a>. Different\u00a0types of business plans<\/span><\/a>\u00a0may require more information or may focus on some topics over others. Most new businesses<\/span> will need a startup<\/span> business plan<\/span>.<\/p>\n

How To Create a Business Plan<\/span><\/h2>\n

The process of writing a business plan<\/span> has great benefits in and of itself. It allows prospective business owners<\/span> to research, gather data, and understand their customers and their product\u2019s place in the marketplace.<\/p>\n

Information in this section will teach you:<\/p>\n