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Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.
The health and vitamin industry is growing at a very quick pace. Customers want to have natural and plant alternatives to medication. They are starting to believe the body is a temple. They don’t want to pollute with chemicals. The industry needs botanical plants that are ready to process as well as give to nurseries for the “do it yourselfers”.
Botanical Bounty is working hard to become a leading producer of botanical plants for the natural supplement industry as well as plant nurseries.
Botanical Bounty has three distinct customers: supplement companies, processors of botanicals for supplement companies, and nurseries that resell the plants.
The first two customers purchase the plants for use in their products which they ultimately sell to the end consumer.
The market for natural supplements is quite exciting. Surveys show that over 158 million consumers (over 55% of U.S. population) use dietary supplements. An estimated 115.3 million consumers buy vitamins and minerals for themselves, and 55.8 million purchase them for other members of their family, including children. Consumer surveys consistently find that nearly half of all Americans now use herbs – a statistic that is particularly remarkable when we realize that today’s herbal products industry is just over a quarter century old.`
Competition takes two forms, farms similar in size and production capacity to Botanical Bounty and megafarms. The similarly sized farms range in size from 5-30 acres. The number of different herbs grown varies from a handful to upwards of 50. The choice of plants grown is based on owner preference as well as location and the ability of the local growing conditions to support the different plants.
It is Botanical Bounty’s mission to become the leading provider of botanical perennials to the health/vitamin industry. This will be accomplished by providing quality plants at fair prices while exceeding customer’s expectations.
To finance our growth and full-time production, we need to purchase $35,000 worth of new equipment as long-term assets taking that total up to $53,800. To that end, we are seeking a $100,000 10-year loan. Sales forecasts conservatively indicate that $190,000 revenue will be generated in year two, rising to over 400,000 by year 4.
Financing needed.
We need to have a $100,000 10 year loan. We will use our $35,000 of cash from our current operations.
Problem worth solving.
There is a growing trend towards plant cures to common diseases or health issues.Consumers care about getting a natural supplement to make them feel better and take care of their body. Because of this the natural market has grown exponentially in the last few years. The market needs high quality botanicals to keep up with demand.
Botanical Bounty has identified three keys that will be instrumental in their success. The first is the implementation of strict financial controls. By having the proper controls, production efficiency will be maximized. The second key will be the never ending pursuit for the industry’s highest concentration levels of botanical ingredients in each plant. The third key is the recognition and implementation of the philosophy that 100% customer satisfaction is required to ensure a profitable business. Profits are a by product of satisfying customers, not the other way around.
Market size & segments.
Botanical Bounty has identified three different target market segments:
Supplement Companies This customer group manufactures botanical supplements for their own label products. The companies purchase the plants and extract the active ingredients and transform them into sellable products for their own brand. There are a handful of large companies that operate in this market space. Ten years ago there were many different ones but through consolidation the industry has grown in size but decreased in the number of different players.
Processors These customers purchase the the plants, extract the botanicals and either sell the concentrated botanicals to the end producers or they themselves produce the supplement and sell the final product to other companies for their private label products. In essence they are the subcontractor for the supplement companies. These companies therefore are one layer within the manufacturing system and do not sell to the end consumer. They act as a supplier/processor for the retail brands.
Other Nurseries/Garden Centers This customer group purchases the plants which they in turn sell at retail to the individual end consumer. The typical consumer is a health conscious individual who is interested in either extracting the botanical from the plant immediately or growing the plant in their own garden for future use.
As mentioned previously, competition takes two forms, farms similar in size and production capacity to Botanical Bounty and megafarms. The similarly sized farms range in size from 5-30 acres. The number of different herbs grown varies from a handful to upwards of 50. The choice of plants grown is based on owner preference as well as location and the ability of the local growing conditions to support the different plants.
On the other end of spectrum is the megafarm. These farms have a similar range of species cultivated, however they differ greatly in production capacity. These farms are huge, typically not less than 100 acres, peaking at 300 acres. These growers however are few number.
The buying patterns of the different customers are typically based on these variables:
Botanical Bounty has a dual competitive edge:
Healthy Plants The healthier the plant, the faster it will grow, the more botanicals that can be extracted from it. This means an increase in production efficiency due to a larger percentage of plants that are sellable. Other characteristics of healthy plants which are important on the production side is: lower pest counts, more established root structures, and high biomass.
High Concentration of Active Botanicals This is beneficial to the purchaser because they are buying the plants precisely for the active botanicals. High concentration levels are valuable to Botanical Bounty because they increase the amount of botanicals produced per plant or per acre, increasing the production capacity of a given amount of land, thereby increasing their return on investment and increasing the attractiveness of Botanical Bounty’s plants relative to the competition.
Our keys to success are:
Marketing plan.
Botanical Bounty’s sales strategy efforts will focus on identifying qualified leads and turning them into paying customers. The main sales effort that Botanical Bounty will undertake is the reinforcement of the fact that Botanical Bounty’s plants have the industry’s highest percentage of botanicals. This will be quite appealing to the buyers as this is exactly what they want, more botanicals per plant. In addition to selling the buyers on Botanical Bounty’s competitive edge of potent plants, there will be an emphasis on Botanical Bounty’s ability to perform on long-term contracts.
Botanical Bounty recognizes that the transactions should not be thought of as individual sales, but as long-term relationships. This is a reasonable assumption based on the fact that the customers are in the business of utilizing botanicals, that they will continually have the need for the botanicals, and that it is far less expensive to establish a relationship with one vendor than to continually have to find new vendors that can meet their needs.
Botanical Bounty is a 10 acre farm that concentrates on the growing of botanical medicinals. Botanical Bounty has chosen five plant species that have significant market demand as well being well suited for growth in the Willamette River Valley. Botanical Bounty will feature: Echinacea – an immune system booster; Ginseng – a source of energy; St John’s Wort – for mild depression; Skullcap- for inflammation; and Ginger – a stomach soother.
Milestones table.
Milestone | Due Date | |
---|---|---|
Jan 09, 2020 | ||
Jan 15, 2020 | ||
July 23, 2020 | ||
Dec 05, 2020 |
Our key metrics are:
Botanical Bounty is an Oregon L.L.C. owned by David and Susan Nealon. The L.L.C. business formation has been chosen as a strategic way to shield the Nealons from personal liability.
Botanical Bounty has been in operation for two years. Initially it was started as a hobby where Susan could use her plant biology skills while covering some of the costs. The Nealon’s were able to achieve this lifestyle due to a windfall that David received as a result of exercised stock options. After the second year, the Nealon’s decided that although they had the money to live on for many years, it would be irresponsible to needlessly spend it so they got serious about the business and made a concerted effort to become profitable.
Botanical Bounty has chosen the Willamette River Valley as an ideal place to grow perennials. Botanical Bounty has 10 acres of land which they use for production. During several of the winter months, production is moved into their green house for propagation. Botanical Bounty employs a drip irrigation system for all of the plants.
Botanical Bounty will be lead by the husband and wife team of David and Sue Nealon. David brings a wealth of business and project management skills to the company. While working at Yahoo!, David was responsible for the successful launch and market lead capture of Yahoo!s driving directions section. Utilizing these skills, David will be responsible for the business operations of the farm. Sue, with a background of plant biology will be the driving force of the operation, growing the highest active ingredient content plants in the country. Additionally, because of her wealth of knowledge, she will be the leader of the sales department.
2020 | 2021 | 2022 | |
---|---|---|---|
David | $25,200 | $25,704 | $26,218 |
Sue | $26,400 | $26,928 | $27,467 |
Grower | $21,600 | $22,032 | $22,473 |
Laborers (3.08) | $40,500 | $55,080 | $74,908 |
Totals | $113,700 | $129,744 | $151,066 |
Key assumptions.
Our key assumptions
Expenses by month, net profit (or loss) by year, use of funds.
We will be using the loan to purchase machines and to expand our farm and our personnel to grow the highest quality botanicals and process them so they can be turned into vitamins or other products that give the customer a natural cure.
We are leveraging our business to get an $100,000 10-year loan. We will also be using the cash on hand from our current business.
2020 | 2021 | 2022 | |
---|---|---|---|
Revenue | $208,590 | $307,600 | $419,600 |
Direct Costs | $62,577 | $92,280 | $125,880 |
Gross Margin | $146,013 | $215,320 | $293,720 |
Gross Margin % | 70% | 70% | 70% |
Operating Expenses | |||
Salaries & Wages | $113,700 | $129,744 | $151,066 |
Employee Related Expenses | $22,740 | $25,949 | $30,213 |
Sales and Marketing | $10,500 | $5,400 | $5,500 |
Rent | $24,000 | $24,000 | $24,000 |
Utilities | $6,000 | $6,000 | $6,000 |
Insurance | $3,000 | $3,000 | $3,000 |
Total Operating Expenses | $179,940 | $194,093 | $219,779 |
Operating Income | ($33,927) | $21,227 | $73,941 |
Interest Incurred | $7,129 | $7,238 | $6,631 |
Depreciation and Amortization | $5,830 | $5,830 | $5,830 |
Gain or Loss from Sale of Assets | |||
Income Taxes | $0 | $0 | $2,730 |
Total Expenses | $255,476 | $299,441 | $360,850 |
Net Profit | ($46,886) | $8,159 | $58,750 |
Net Profit/Sales | (22%) | 3% | 14% |
2020 | 2021 | 2022 | |
---|---|---|---|
Cash | $24,463 | $29,034 | $87,541 |
Accounts Receivable | $0 | $0 | $0 |
Inventory | $7,690 | $10,490 | $10,490 |
Other Current Assets | |||
Total Current Assets | $32,152 | $39,524 | $98,030 |
Long-Term Assets | $58,300 | $58,300 | $58,300 |
Accumulated Depreciation | ($5,830) | ($11,660) | ($17,490) |
Total Long-Term Assets | $52,470 | $46,640 | $40,810 |
Total Assets | $84,622 | $86,164 | $138,840 |
Accounts Payable | $2,722 | $3,422 | $3,424 |
Income Taxes Payable | $0 | $0 | $1,850 |
Sales Taxes Payable | |||
Short-Term Debt | $7,318 | $7,925 | $8,583 |
Prepaid Revenue | |||
Total Current Liabilities | $10,040 | $11,347 | $13,857 |
Long-Term Debt | $86,468 | $78,543 | $69,961 |
Long-Term Liabilities | $86,468 | $78,543 | $69,961 |
Total Liabilities | $96,508 | $89,891 | $83,818 |
Paid-In Capital | $35,000 | $35,000 | $35,000 |
Retained Earnings | ($46,886) | ($38,727) | |
Earnings | ($46,886) | $8,159 | $58,750 |
Total Owner’s Equity | ($11,886) | ($3,727) | $55,023 |
Total Liabilities & Equity | $84,622 | $86,164 | $138,840 |
2020 | 2021 | 2022 | |
---|---|---|---|
Net Cash Flow from Operations | |||
Net Profit | ($46,886) | $8,159 | $58,750 |
Depreciation & Amortization | $5,830 | $5,830 | $5,830 |
Change in Accounts Receivable | $0 | $0 | $0 |
Change in Inventory | ($7,690) | ($2,800) | $0 |
Change in Accounts Payable | $2,722 | $700 | $2 |
Change in Income Tax Payable | $0 | $0 | $1,850 |
Change in Sales Tax Payable | |||
Change in Prepaid Revenue | |||
Net Cash Flow from Operations | ($46,023) | $11,889 | $66,432 |
Investing & Financing | |||
Assets Purchased or Sold | ($58,300) | ||
Net Cash from Investing | ($58,300) | ||
Investments Received | $35,000 | ||
Dividends & Distributions | |||
Change in Short-Term Debt | $7,318 | $607 | $658 |
Change in Long-Term Debt | $86,468 | ($7,925) | ($8,583) |
Net Cash from Financing | $128,786 | ($7,318) | ($7,925) |
Cash at Beginning of Period | $0 | $24,463 | $29,034 |
Net Change in Cash | $24,463 | $4,571 | $58,507 |
Cash at End of Period | $24,463 | $29,034 | $87,541 |
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Are you planning to start running a catering business? If so, you’ll need a plan—specifically a catering business plan to help guide you through every development stage of this exciting new business venture. In this article, we have not only provided free business plan template examples, but we also talk about the creation steps and more in great length. Don’t just sit there. Scroll on!
Catering business plan example.
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Like any other kind of business plan, a catering business plan is a formal written document. Contained within are the goals of a company, their intended methods and tactics for achieving those goals, and the resources that they plan to use for those goals . These plans are often written to serve as a guide in the coming months or years, as well as to secure funding from investors.
Coming up with a strategic plan for catering business ideas does not have to be an overly difficult task. The same goes for financial plan for catering business ideas. Whether you are trying to create a catering business plan from home or with a proper office, the following steps should still suit you regardless.
In the first section of your business plan , you must first describe your catering services. This also includes describing the types of food that you want to serve to your prospective clients. Also ensure to indicate if you will provide tables, chairs, and other items that are usually needed for a catering event or if you will just outsource this work.
In the second section of your start up catering business plan, you have to determine and indicate the amount of kitchen space that you will be needing for your catering business. In order to do so, you must also determine beforehand your needs and your budget. You can lease a commercial space, rent space in an already established restaurant, or simply work from your home kitchen.
After listing down the amount of space that you need. You must also consider the list of equipment that will help you effectively and successfully operate your catering business. To estimate the possible costs for such equipment, you may check out restaurant supply stores, online vendors, or cooking stores before even buying anything.
In the last section of your business plan, indicate your marketing strategy . This is where you will list down all of your plans on how you can meet potential clients such as catering for both public and private events, hand out promotional or marketing items, or contact and meet local event planners.
The answer to this lies in what you can find in the kitchen, along with what kind of catering business you have in mind. Knives, spoons, forks, pans, glasses, serving trays, ovens, and refrigerators are all common equipment found in establishments like restaurants , bakeries, and yes, catering businesses.
There are multiple variations of catering businesses that any aspiring business owner can adopt. The most common one would be the kind of catering where everything is set up at a specific site. Others would be outdoor catering services and even home delivery catering services.
There are at least four different types of business plans. First, there are short plans, followed by presentation plans, working plans, and what-if plans.
Starting your own catering business is not an easy task and you’ll need a lot of help. Fortunately, you can provide yourself with the necessary guidance by first coming up with a food catering business plan. With the right sample business plan for catering at your disposal, you will have a much easier and smoother experience starting everything from the ground up. Now take what you’ve learned here, along with some of our plan templates , and act with wisdom today!
Text prompt
Create a study plan for final exams in high school
Develop a project timeline for a middle school science fair.
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Your agriculture business plan doesn't need to be hundreds of pages—keep it as short and focused as you can. You'll probably want to include each of these sections: 1. Executive summary. An overview of your agriculture business, with a brief description of your products or services, your legal structure, and a snapshot of your future plans.
Financial Summary. Down in the Dirt Farm grossed $66,370 in sales from the 2018 season ($28,675 through their CSA offering whole and half shares, $25,800 through farmers market sales, $8,645 through wholesale, and $3,250 from on-farm pork share sales). The agreed-upon sale price for the new farm is $315,000.
The operational plan details the day-to-day activities and processes involved in running your crop farming business. Discuss land acquisition, equipment and machinery, crop rotation plans, irrigation systems, and pest control measures. Include a timeline of activities, from land preparation to harvesting, to ensure efficient operations ...
Find the right agriculture business plan template for your business. If you're not sure where to begin, check out our farms, food growers, food production facilities, and other agriculture-related sample business plans for inspiration. Explore our library of Farm and Agriculture Business Plan Templates and find inspiration for your own business.
Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For an agriculture business, your marketing strategy should include the following: Product: In the product section, you should reiterate the type of agricultural company that you documented in your company overview.
The Farm Business Plan Balance Sheet can help gather information for the financial and operational aspects of your plan. Form FSA-2037 is a template that gathers information on your assets and liabilities like farm equipment, vehicles and existing loans. FSA-2037 - Farm Business Plan - Balance Sheet. FSA-2037 Instructions.
Funding will also be dedicated towards three months of overhead costs and marketing costs. Specifically, these funds will be used as follows: Land: $200,000. Equipment: $200,000. Three months of overhead expenses (payroll, utilities): $150,000. Marketing costs: $100,000. Working capital: $100,000. Easily complete your Agricultural business plan!
Sample Business Plan For Farms & Agricultural Businesses. Executive Summary - The Executive Summary is the most important part of your business plan. It is a brief description of your farm, its products and services, potential market opportunity, and competitive advantage. Company Overview - Also called the Company Analysis, here, you will ...
AgPlan from the University of Minnesota helps rural business owners develop a business plan for free, while also offering sample business plans for ideas, and a way to print or download your plan. Developing a Farm Business Plan includes several helpful resources from the USDA National Agricultural Library's Rural Information Center.
Timeline and Milestones. Develop a timeline for your agricultural business's key milestones and achievements. This section should include: Example: Milestone Timeline: Year 1 - Acquire additional farmland; Year 2 - Expand greenhouse production; Year 3 - Launch an online farm-to-table store.
Agriculture or farming is the only industry consistently performing well, regardless of economic climate changes. Whether you plan to start farming, cannabis cultivation, a cattle farm, or nursery business, you'll do great as long as you do things right and have a solid business plan. This library of farm business plan examples here can ...
Benefits of Agriculture Business Plan. In all agriculture business examples, a business plan is a must. Businessmen work with it because they can get a lot of benefits from it. They can be sure that they can make their business flourish through a business plan. It has a lot of advantages that can surely make your business advanced from other ...
Writing a farming business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire ...
Produce Farm Business Plan. Mixed Greens Salad Gardens specializes in exotic salad field greens for local restaurants. When you run a farm, you've got to know all about growing things, including your business. A business plan will help. This selection of farm-related sample business plans will give you a head start on writing a business plan ...
This workbook is designed to provide an outline for developing a business plan for your agricultural business. Each section contains an explanation, example and space for you to begin developing a business plan. There are numerous resources pertaining to the development of business plans available; it is the hope of the authors that this ...
The Farm Business Resilience Program is supporting farmers to build stronger, more productive agricultural businesses. DJPR_13999_0423 After completing your Farm Business Plan, have a go at prioritising your goals using the Action Plan template. The Action Plan template can be accessed on the Farm Business Resilience Program webpage:
A business plan is a roadmap for your small farm. It is both process and product. During the writing of a farm business plan, you'll develop an overall vision and mission for your business. You ...
The plan contains the operational and financial objectives of a business, the detailed plans and budgets showing how the objectives are to be realized. A good business plan will contain the following: Your business vision, mission statement, key values, and goals. Description of the product (s) you intend to produce.
Despite that, there is another essential thing that you should prepare ahead of time. It has nothing to do about crops, chickens, or cattle and has everything to do with business documents. That said, compose an agriculture business plan before that season kicks off. 10+ Agriculture Business Plan Examples 1. Agriculture Business Plan
Explore a real-world agriculture farm business plan example and download a free template with this information to start writing your own business plan. Don't bother with copy and paste. Get this complete sample business plan as a free text document. Download for free.
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The purpose of this section is to -. - Establish what is important to your farm business (values) - Establish a vision to work towards. - Set goals to guide your plans. - Create the base for your decision making. - Describe your current situation. your businessValues, Mission and Goals Values - What are they and.
agricultural education services. Our primary objectives are: • To establish a profitable farming business that prioritizes sustainability and environmental stewardship. • To offer educational resources and training programs to empower individuals and communities with knowledge in agriculture and sustainable farming practices. Company Overview:
What Is a Catering Business Plan? Like any other kind of business plan, a catering business plan is a formal written document. Contained within are the goals of a company, their intended methods and tactics for achieving those goals, and the resources that they plan to use for those goals.These plans are often written to serve as a guide in the coming months or years, as well as to secure ...