The business plan should cover the company's goals in the short- and long-term, its target audience, selling proposition, competitive advantage, organizational structure and marketing strategy. Include financial statements and consider your capital requirements. If you need funding to expand your operations, buy new equipment or update your inventory, determine whether you'll reach out to investors to take out a small business loan.
Remember, starting a turnkey business is just the first step in your journey as an entrepreneur. Its success depends largely on how much time and effort you put into it. Choose a niche you are familiar with, conduct market and competitive research, buy a company that aligns with your goals and then take the steps needed to turn it into a successful venture.
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