How to prepare a business plan when purchasing a business - The Business Journals

"The creation of a formal business plan is an often overlooked step in the process of buying a business.

Though the company you want to buy may already be up and running, establishing a well-thought-out plan before the purchase will help you prepare to take over the business.

Building a successful business involves a number of strategic and tactical factors that require heavy planning and realistic expectations. Before you can start the purchase process, you must first write a business plan of your tasks and goals.

What to Include In a Business Plan

Your business plan should assist you in planning the budgetary, marketing, and management tasks required to achieve successful sales and earnings. Put the “big picture” on paper. Seeing your tasks laid out in an organized fashion will position you to anticipate new opportunities and prepare you for any unexpected challenges.

While there are a variety of formats and variations of business plans, you will need to include essential elements for the plan to be effective. A business plan for an established company should have the following:"

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For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.