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Business planning
Business planning
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Business planning

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Transcript

  • 1. Show Me the Money Lynda Brushett Ph.D. Cooperative Development Institute www.cdi.coop [email_address] Business Planning for Farmer Markets
  • 2. Farmers’ Market—
    • A business of
    • businesses
  • 3. Why plan for “the money” (profitability)?
    • vendors
    • customers
    • community
  • 4. If you don’t know where you are going…
  • 5. A Business Plan describes:
      • Who you are;
      • Who your market and competition is;
      • What you’re going to do;
      • How you’re going to do it; and
      • How you will pay for it
  • 6. Why Write a Business Plan?
    • Make decisions
    • Focus efforts
    • Maximize resources
    • Commit to a marketing strategy
    • Anticipate and avoid obstacles
  • 7. Why Write a Business Plan?
    • Set goals
    • Determine direction
    • Attract funding
    • Gain buy-in and support
  • 8. The purpose of a business plan is …
    • to have a successful Farmers’ Market
    • to plan for profitability
  • 9. Who does the planning
    • Board
    • Vendors
    • Manager
    • Often with advisory support
  • 10. Factors in Success
    • Concept
    • Market
    • Management
    • Finances
    • Communication
  • 11. Factors of Success
    • Ability to Attract, Motivate and Retain Vendors, Customers, Manager, Board
    • Financial Control
    • Anticipate and Adapt to Change
    • Values and Integrity
  • 12. Elements of the Business Plan
    • Executive Summary
    • Description
    • Target Market
    • Marketing Plan
    • Competition
    • Strategic Position & Risk Assessment
    • Operations
    • Management & Organization
    • Goals and Action Plan
    • Pro Forma Financials
    • Appendix
  • 13. Executive Summary
    • The most important part of your business
    • plan.
    • Includes the conclusion or highlights of each section.
    • Write the executive summary last.
  • 14. Description
      • Name
      • Legal Form
      • Mission Statement
      • Goals and Objectives
      • Products and Services
      • Management and Leadership
      • Location
      • Stage of Development
      • Ownership Structure
  • 15. Target Market
    • Customers and vendors
    • Define Your Market
      • What’s the size of your market?
      • Who is your market? Why?
      • Where is your market?
    • Evaluate Trends
    • Identify Strategic Opportunities
  • 16. Marketing Plan
    • Defines the target customer
    • Appeals to needs/interests
    • Positions the Market and its vendors
    • Sets sales and traffic goals
    • Makes the connection
    • - How will you reach your customers?
    • - What is your message?
    • - How will you deliver your message?
  • 17. Competition
    • Who are your major competitors?
    • On what basis do you compete?
    • How do you compare?
    • Who are your potential future
    • competitors?
  • 18. Strategic Position & Risk Assessment
    • How are you distinct?
    • What business are you really in?
    • S.W.O.T. Analysis
      • Strengths
      • Weaknesses
      • Opportunities
      • Threats
  • 19. Operations
    • How will you run your market?
      • During the season?
      • Off season
    • What are the essential parts & functions?
      • Facilities
      • Vendor relations
      • Financial Control
      • Contingency Planning
      • Regulatory, environmental
  • 20. Management & Organization
      • Who runs the market?
      • What qualifications?
      • Compensation and incentives?
      • Recruitment? Retention?
      • What is your management structure?
        • - Roles, responsibilities and lines of authority?
  • 21. Goals and Action Plan
    • Where do you want to be in
    • 3-5 years?
    • Strategy for getting there?
    • Priorities?
    • Actions?
    • Resources?
  • 22. Financials - Projections
    • Your business plan expressed in $$
    • Types
      • Income Statement
      • Cash-Flow Projections
      • Balance Sheet
      • Other
        • Sources and Uses of Funds
        • Break-even Analysis
        • Start-up Costs
        • Assumptions
  • 23. Appendix
    • Items that reinforce or support the business plan:
      • Resumes (board, manager)
      • Vendors (farm descriptions and products)
      • Marketing materials
      • Photos
      • Letters of support or key supporters
      • Endorsements
      • Market Research Results
  • 24. Where to get help?
    • Small Business Development Centers
    • Main Street
    • Cooperative Extension
    • Business planning guides
    • Universities and colleges
  • 25. Acknowledgements
    • This material was prepared by the Cooperative Development Institute with support from the Northeast Sustainable Agriculture Research and Education program with input from New England Farmers Market managers, vendors, boards and sponsors.
    • Go to www.cdi.coop for more information.

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