4-H Small Business Plan Components
Basic Contact Information for You
Name, address, phone, e-mail
Summary (appears first, but write last)
Tell us about your business idea (100 words or less).
Business Objectives and Goals
This section gives you a place to answer the following questions.
- Why are you starting a business?
- What are your goals?
- What return do you expect from your business?
- When do you plan to get it started? Pick a specific time and create a timeline.
- How will you decide if your business is successful?
- What is the time frame for measuring success (i.e., where do I want to be in 1 month, 3 months, 9 months?)?
Business Description
- What is the name of your business?
- How would you describe your business?
- What product or service will you offer?
- Where will you obtain products or supplies?
- Where will your business be located?
- What is unique about your business?
- What is your pricing strategy?
- What are your estimated sales in units and dollars?
Market Analysis and Strategy
Can you make a profit with your business?
This may well depend on the analysis of your market, competition and your location? A market analysis begins with the question, “Is there a need for my product or service?” To answer this, you must describe the market and your potential customers.
Who are your potential customers?
Where do they live?
What is their age?
Why will customers buy from you instead of the competition?
Describe how you plan to promote your product/service.
Financial Information
As accurately as possible, list all your start-up costs including assets such as equipment, materials and fixtures. Also, list initial operating expenses. Be sure to include inventory, supplies, advertising and promotion costs.
Management and Organization
How will your business be organized? Will it be a sole proprietorship or partnership? Outline the responsibilities of all principal personnel in your business: who will do what? Do you have an operating plan or schedule for upcoming work? Have you considered other needs?
Loan contracts
There will be an additional contract for the terms of the loan and will need to be signed by an adult if applicant is under the age of 18.
Resources
Deb Kantor will be available to help review small business plans.