On the subject of finance, you need to produce realistic financial details. How much money will the business require? What are the expenses required? How much tax will you need to pay? What are the profit margins? Do you stand a good chance of achieving these sums, and how? Finance plans should include income statements, cash-flow statements, balance sheets and profit analysis. This should form a big part of your business plan, in order to convince the vendor or bank manager of your credibility.
When it comes to buying a business, a good business plan is crucial. It's an invaluable guide to listing your objectives and aims in detail. It's a good source for information and analysis of your aims, targets, customers and prospects. All in all, it's a great resource to refer back to time and time again. By setting up the business plan, you will have a better chance of success because you have listed everything down in your head on paper.