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Tip 46 – Buying – Prepare a business plan

If you haven’t prepared a business plan by the time you ask for body corporate approval then you probably shouldn’t be buying management rights.  The business plan for the body corporate committee is a (much) simplified version of your real business plan.  You don’t have to give away your financial or business secrets, but you do need to show the committee that you’ve thought about what you’re going to do and how you’re going to do it.