In today’s environment, the business plan is the entrepreneur’s most important document when setting up a new business. Without the help of a well-designed and well- presented business plan the entrepreneur will find it very difficult to express its business goals or secure financing. Without a business plan, it is almost impossible for someone to take your business idea seriously or even consider investing in it.
Because this thesis is about setting up a business plan for the start-up of a new kind of social network, we will first start with an overview about the concept business plan throughout the literature. In this literature study the term business plan is defined as well as the main functions of the business plan followed by an overview of the typical structure of the business plan. Furthermore, a problem discussion on the topic business plan in the literature is displayed.
In the next part the main focus will lay on the composition of the financial plan.
Subsequently, in the section Location Based Social Network a brief explanation is given about LBSN to give the reader an idea about what the business idea is all about.
An entrepreneur willing to start his own enterprise stands before a lot of obstacles. Building up a company does not happen over one night.