Once community assessment and readiness has been determined and Chief & Band Council has given a favourable & supporting green light to an FNG Community Garden Farming Co-op Facility proposal, we work directly with you and your Community Champion to begin to develop an in-depth project business plan. A very detailed written document that describes the proposed Community Garden Farming Co-op business in great detail, its objectives and strategies, the market you are targeting, that also includes your financial forecasts. It is important to have a business plan because it helps you understand your market, set realistic goals, secure external funding when needed, measure your successes, clarify operational requirements and establish reasonable multi-year financial forecasts. Preparing your business plan properly will also help you focus on how to operate an FNG Community Garden Farming Co-op Facility to its optimum, giving you and your new community business the best chance for continued annual successes.
Securing financial assistance to start your new business will be directly related to the strength of your business plan. To be considered a viable candidate to receive funds from a financial institution or investors, you must demonstrate that you understand every aspect of your business, and its ability to generate profit. A business plan is more than just something to show lenders and investors; it is also necessary to help you plan for the growth and progress of your business. Your business’s success can depend on your plans for the future. Listed below are examples of questions to ask yourself when writing your business plan:
- How will I generate a profit? • How will I run the business if sales are low or if profits are down?
- Who is my competition, and how will we coexist? • Who is my target market?
Although business plans can vary in length and scope, all successful business plans contain common elements. The following points should be included in every business plan:
- Executive summary (business description) • Identifying your business opportunity • Marketing and sales strategy of a business plan
- Your team • Operations • Financial forecasts of a business plan (3 years)
The executive summary is an overview of the main points in your business plan and is often considered the most important section. It is positioned at the front of the plan, and is usually the first section that a potential investor or lender will read. Although the executive summary is the first section of the plan, it is a good idea to write it last; after the other parts of the plan have been finalized. The summary should:
- Include the main points from each of the other sections to explain the basics of your business
- Be sufficiently interesting to motivate the reader to continue reading the rest of your business plan
- Be brief and concise – no more than two pages long
We will need to identify your business opportunity. In this section of your business plan, we will describe what your business is about, its products and/or services, and your plans for the business.
This section usually includes:
- Who you are • What you do • What you have to offer • What market you want to target
Marketing and sales strategy of a business plan are also important elements. A strong business plan will include a section that describes specific activities that you will use to promote and sell your products or services. A strong sales and marketing section demonstrates that you have a clear idea of how you will get your product or service into market.