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Creating a Business Plan for a New or Existing Business

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Business Plan Objective

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Dec 12,  · As you plan for the business you purchase, you start by making an important choice: business plans can be either for startup new businesses or for already-existing and ongoing business. When you buy a business from somebody else, either option is acceptable/5(4).

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Perhaps the biggest advantage to buying over starting a business is the existing business's potential. You may see growth opportunities the current owner doesn't, or maybe you have a superior business plan. Business organization: Describe the form of business organization you will take and where the company will be located. Your business plan summary should short and easy to understand. Remember to keep your summary short and easy to understand.

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Buying a company that's already established may be quicker and easier than starting from scratch. However, you will need to put time and effort into finding the business that's right for you. Also, the costs involved in buying an existing business can be substantial and should not be underestimated. Buying a business is a big undertaking and getting a loan to buy a business can be the most complicated part. Banks set high standards that both you and the potential business .