TheBusinessPlan

Yourblueprintforsuccess

Today’sObjectives

Thisworkshopwillexplainthemysteriesofaformalbusinessplan.Learnwhatitis,whyyouneedit,andwheretogettheinformationyouneedtocreateit.Awell-writtenbusinessplanwillmakeyourplanningeasierandprovideaclearpictureofyourco-optopotentialsupportersandlenders.

WhatIS abusinessplan?

Whatdowedowithit?

Knowyouraudience

n Yourmembership

n Sourcesofcivicfundingandsupport

n Potentiallenders

Knowyourstuff

n Canyoudefendyourassumptions?

n Areyoursourcescredible?

n Canyouanswerarangeofquestions?…

n …orgettheanswerspromptly?

Evolvingdocument

n Stage1:Visionstatement

n Stage2:Businessassumptionsandcritiquedvision

n Stage3:Testedforfeasibility

Whatgoesinit?

TypicalContent

ExecutiveSummary

n Businessopportunity(Whyareyoudoingthis?)

n Urgency,value,viability,support,demand

n Capitalizationneed

Oneshottogetsomeone’sattention

BusinessOverview

n Whatisaco-op?

n Mission,Vision(co-opprinciples)

n Timeline/history

n Criticalpartnersandadvisors

n Products&Services

n Site/location(map)

n Drawingsorphotos

Industry,MarketandCustomerAnalysis

n Sourceofdataandcredentials

n Overviewofnaturalfoodstrends

n Definedmarketarea

n Marketstudysummary

n Owner/communitysurveys

n Productandserviceofferings

n Projectedsales

n Localmarkettrendsandissues

CompetitiveAnalysis

n Competitioninmarketarea(currentandfuture)

n Trendsinnaturalfoodretail

n SWOT

n Co-op’scompetitiveadvantage

MarketingPlan

n Pointsofdifferentiationn Localproductsn Cooperativeownershipn Productmixn Customerservice

n Promotionalplans– Advertising,media,etc.n Pre-openingn Post-opening

n Pricingstrategy

n Branding

n Education

n Accesstoallincommunity

Operations&ManagementPlan

n Facility

n Staffingn Orgchartn Payandbenefitsn Recruitingstrategyn Trainingn Employeeparticipation

n Suppliers

n Hoursofoperation

n Uniqueplansatdepartmentlevel

OrganizationalStructure

n Governance

n OwnerEquity

n Ownerbenefits

n Ownerengagement

[optional:hybridownershipissues]

n Relativerightsandbenefitsofeachownershipclass

n Advantagetoco-opofhybridownership

FinancialPlan

n Summaryfinancialprojections(fromproformas)

n Sources&Usessummary

n Capitalcampaignsummary

n Workingcashmanagement

n Profitability

CriticalRisks

n Capitalization

n SiteSelection/Availability

n HumanResources

n CompetitiveNatureoftheIndustry

n CommunityAwareness

Appendices

n Marketstudysummary

n Surveysummary

n Siteplan,map,etc.

n FullProformas,includingS&UBudget

n Board/GMbios

Puttingittogether

Planningyourbusinessplan

n Whentostart

n Whodoesthework?n Datacollectionn Narrativesn Charts&Graphsn Proofreadingandeditingn Formattingandpresentationn Stresstestingn Revisions

SourcesofInformation

n Yourprofessionalmarketstudy

n Yourprofessionalfinancialprojections

n Staffn GMn Outreach/advertisingstaffn Merchandisingmanager

TradeSourcesindustrytrends

n SupermarketNewshttp://www.supermarketnews.com/

n FoodDivehttps://www.fooddive.com/topic/grocery/

n OrganicTradeAssociationhttps://www.ota.com/resources/market-analysis

n FMIU.S.GroceryShopperTrends2017https://www.fmi.org/docs/default-source/webinars/trends-2017-webinar-7-18-2017.pdf

MoreOnlineSourcesCooperativeadvantage

n http://strongertogether.coop/

BusinessPlanguidesandresources

AFoodCo-opBusinessPlanGuidehttps://www.fci.coop/wp-content/uploads/2018/04/Business-Plan-Guide-final.docx

SBA:HowtoWriteaBusinessPlan(on-linecourse)https://www.sba.gov/tools/sba-learning-center/training/how-write-business-plan

BusinessPlansforDummiesCheatSheethttp://www.dummies.com/business/start-a-business/business-plans/business-plans-for-dummies-cheat-sheet/