A business plan is simply a resume for your proposed business. Its primary importance is that your business plan becomes your calling card. Anytime you are going in to talk to a property manager about leasing space for your business, or you are meeting with a potential lender or investor, your business plan will announce/outline who you are and what your purpose is.
In most cases, a business plan is created to explain and illustrate the vision you have for your business, and to persuade others to help you achieve that vision. To accomplish this, your plan will need to demonstrate on paper that you have a firm visualization of what your business is going to be. It needs to convince others that your business concept can be successful, and that you possess the expertise-alone or collectively-to assure that it will be both successful and profitable.
The time you invest in your business plan will pay off many times over.
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Business Plan Guide