DEVELOP A POULTRY FARMING BUSINESS PLAN
The importance of writing a business plan for your new or existing poultry business can never be underestimated. It will give you more clarity about your business and it can be used to attract investors or to apply for a loan or grant. Unless you have your intentions for your business written down, you might miss an opportunity to communicate it to someone else or even to clarify things for yourself.
Whether you’re starting or expanding a poultry business, writing a business plan template will help you become clear about what you want to do and how you will be going about it. Most emerging poultry farmers will have to make use of loans or grants when starting their business. In order to access these, you will need to write a business plan and submit it to your prospective financier or grant officer.
Here are some basic topics you need to discuss in your business plan.
What is a Business Plan?
A business plan is a basic outline of what your business is all about. It must serve as an action plan and guideline for you to use on a daily basis. The essence of it is to act as a roadmap to your desired destination. Be practical when writing it and keep it realistic.
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There are several key elements to be discussed in your business plan. They are as follows:
Your Executive Summary
Write a summary of what your business is all about. What will you be selling and why is it going to work? Your executive summary is an introduction to the rest of your business plan – keep it short and mention the strong points of your plan.
Your Mission Statement
It’s important to explain why you want to start this specific new business. The simple question to answer in your mission statement is “Why am I doing this?”
This section should answer the question of what you want to achieve in terms of income, turnover, profits and percentages—some achievable thing. Focus on the notion of, “This is what I want to have and how much of it”. It is important to be clear and realistic about your goals. Make them achievable and set your mind to achieving them.
Your Lift Speech
This is where you give the short answer to the question, ‘What do you do?’. Make sure this summary is in line with your mission and goals. By answering this question you will force yourself to be specific about what your business will be doing and how you will be doing it. Write it in less than 100 words.
The Financial Plan
This is the most important section of your business plan. Investors and grant officers will analyze and examine your financial info. Be specific about how much money you will need to get started, where you will spend the funds, how long it will take to start becoming profitable, how big your potential market is and what your running costs will be. The key is to show a potential investor that you will be able to make a financial success of your business and be profitable.
How are you going to sell your products and how are people going to hear about it? How will you be promoting your products? What marketing channels will you be using? What’s unique about your product? Be as creative as possible when looking at various marketing channels.