How to prepare a business plan to get funding for buying a business?

[MESIgoal]

Hey everyone, I’ve been looking into buying a small coffee shop that’s been up for sale in my area. I’m not new to the idea of running a business, but this would be my first time actually owning one. The owner’s asking price seems fair, and I’ve already talked to him a couple of times. The tricky part is getting funding — I was told I need to submit a business plan to apply for financing, and honestly, that part kind of stresses me out. I’m not a finance pro, and I don’t want to mess up my one shot at getting a decent loan. Has anyone here gone through this and knows what banks or lenders are actually looking for in a business plan? I don’t need a perfect template, just some real-world advice on what matters most.

[Blandar]

Hey, I’ve been in a similar boat last year when I tried to buy a small cleaning franchise. You’re totally right to think that the business plan matters — it’s not just a formality. I kept mine clear and simple but made sure it showed I understood the numbers: expected revenue, basic operating costs, and how the loan would be used specifically. One thing that helped me big time was checking out this breakdown of what lenders expect in a plan — it’s super straightforward and to the point: how to get loan to buy a business. It honestly saved me hours. Just don’t overthink it — show them you’ve done your homework and that the business can realistically make enough to pay the loan back. I even included a little competitor analysis, which seemed to impress the lender.

[JoWee]

Oh this is interesting, I’ve always wondered what the process looks like for someone actually buying a small business. Never done it myself but I imagine it takes a lot more planning than people think. Cool to see people actually doing it instead of just talking about it.