A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals (Stanford University, 2011). A good business plan contains key aspects including an executive summary and an analysis of opportunity. An executive summary, sometimes known as a management summary, is a short document or section of a document, produced for business purposes, which is intended as an aid to decision making by managers and has been described as possibly the most important part of a business plan (Lavinsky, 2012). Opportunity analysis is the strategy of assessing the potential for a change or enhancement to enhance the generation of revenue. Setting goals and plans are important aspects of planning, which sets the basis for all the tasks managers do. Through the use of formal planning, managers can identify specific goals during a specific time period, and specific plans are written for these goal to be met. This elevates business failure, because managers can organise its proposed tasks to ensure the productivity of the organisation, which in return results in business…