One crucial function they perform is the formulation of business plans. This plan is based on the information provided by the client coupled with the vast wealth of knowledge and research a business plan consultant has.
Apart from this, they also analyze consumer trends and gather legislation reports and regulations that might have a future impact on your particular venture. These expert individuals make it their responsibility to build upon previous experiences and the requirements needed for you to carry out your intended plan.
Besides, your friends may be 100% behind you in your new venture, but, in case you are hoping to involve others who have actual money to invest, you may need to be able to make a convincing case. Wouldn't it be nice to have anticipated possible questions and be ready with plausible answers? If you are risking your own money, that is perhaps even a stronger reason to do some indispensable planning.
Internet Public Library - The Census Data and Demographics (ipl.org)/: An especially useful site that has links to information about countries other than the U.S.