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Business plans are used by entrepreneurs to secure funding for their business idea or by small business owners looking to refine their business strategy.
According to the website, each section can be copied into Word, Excel or a similar word-processing app by simply copying and pasting the text.
The website also breaks down each section and provides instructions on how to download and fill in the template.
Regardless of the purpose, having templates at the ready can be helpful.
If you've never written a business plan before or just want to save time and effort, here are 10 websites where you can download a business plan template and get started.
There's also a step-by-step guide for writing a business plan, and Bplans provides a library of sample business plans to ensure you're on the right track.
MOBI, or My Own Business Institute, is part of Santa Clara University's Center for Innovation and Entrepreneurship.
The more expensive it is to start the business, both in terms of money and time, the more important it is that your child do market research.
Does your child have the necessary financial resources to start the business? Let them know that if they are serious, and can put together a credible business plan, then you may be more willing to fund their new start-up. Information on learning different skills may be found on the internet, or at your local library. If possible, study the business from others who have done something similar.