A financial plan is crucial for a sports medicine clinic as it provides a detailed projection of anticipated revenue, expenses, and cash flow. It helps in assessing the clinic's financial viability and sustainability. Additionally, a well-developed financial plan demonstrates the clinic's understanding of key financial metrics, such as profitability, return on investment, and break-even analysis. This information is essential for potential investors or lenders to assess the clinic's potential for profitability and to make informed decisions about providing funding or loans.