How do one write a business plan for an already establish

Question by Maria Gallercia: How do one write a business plan for an already establish business that you want to buy?
I write a business plan for an already established business in my bid to procure financing for its purchase. I am 24 year old university graduate, and I dream of owning my own business. Please help me out, if you can. Thank you in advance. 🙂

Great answer:

Answer by Jim D
Mostly you are trying to convince the bank that under your ownership the business will be profitable and that you will be able to repay the loan. That is the bottom line to the bank.

You need to show the current cash flow of the business, and demonstrate that there will be ample income to meet the loan payments. If the business does not have the cash flow, you need to show your plan of how you will make it sufficiently profitable, including timelines and projections.

You also might want to call the bank to see if there are any specific details they will be looking for. Be sure to address all their concerns.

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