A business plan should detail the nature of the business, clearly explain how it will work and take into consideration the costs and financing required for the business (and its stages of growth). It should include:

Executive summary- a description of the business, explaining what the writer of the business plan wants.

Business description- discusses the current business environment and future opportunities, including new products and developments, which will be of benefit to the company.

Market analysis- defines the target market. Critical in determining the product(s) to be sold, the price, how to position the product or service and how to promote and distribute the goods or services.

Competitive analysis- highlights the strengths and weaknesses of the industry players from a competitive perspective which in turn highlights weaknesses or areas to exploit. It can also help find the 'sweet spot' which could create a barrier and prevent competition to the new business.

Operations and management plan- describes how the business will function on a daily basis. It describes the envisaged company management structure, any additional departments in the company, the responsibilities given to each and the operating expenses of these individually and as a whole.

Financial factors- determining whether or not you stay in business... This section would list all expenses and future projections.