A business plan is a formal statement of an SLSC’s goals. It states the plans for reaching those goals and the rationale for why they are achievable.
An SLSC may undertake a business plan for a range of purposes, such as to:
- Ensure the SLSC can host a special event without falling into financial trouble
- Ensure the SLSC remains financially stable over a specified period
- Raise funds towards capital investment, like a facility.
An SLSC’s business plan should align with its financial and marketing plans (See sections Finances Marketing this Club Guide for more information on these plans).
The business plan should identify all the crucial facts about the SLSC, e.g., its history, current financial position, objectives and business activities. It also needs to include evidence of potential income generation.