In order to put your business concept on paper, you need to think through and research the many factors that are needed to make sure your business is a success. With a plan, not only can you spot potential weaknesses, opportunities, and threats, your plan can help you make informed decisions about your venture before you commit yourself legally or financially. Executive summary Your executive summary should be 1—2 pages long, and provide an overview of your business concept, key objectives of your business and your plan, ownership structure, management team, your product or service offering, target market scompetitive advantages, marketing strategy, and a summary of your financial projections. Products and Services Expand upon your products and services, including features and benefits, competitive advantages, and, if marketing a product, how and where your products will be produced.
Good Earth Foods is initially focusing on the development, production, and marketing of dry spice products, which is detailed in this document. Other food product development opportunities will be addressed in future amendments to this business plan that will provide additional profit with expanded market share.
Good Earth Foods has retained legal counsel and has developed a business relationship agreement with a volume food manufacturer to partner with in ongoing business operations.
In addition to establishing a relationship with a food production producer, Good Earth Foods has sought out and secured professional services firms to evaluate, validate quality, and longevity of products and product life cycle.
These additional professional services will allow Good Earth Foods Company to ensure food quality compliance with state, federal, local, and industry group certifications. Our line of products will conform to the guidelines established by the California Organic Foods Act of Organic foods, gourmet convenience products, and partially prepared specialty items, once a novelty, have grown to become an integral part of the overall consumer shopping environment.
This serves to indicate a consumer's commitment to personal health, quality food consumption, and intelligent shopping. Consumer expectations for food convenience and high quality food products is rapidly "pushing" old-line food manufacturers into new exciting food trends and convenience areas.
The consumer food industry is quickly becoming ready for mass market, customized, organic food products. Before the end of the yearGEFC will be recognized as a highly visible company in the customized, gourmet food, dry spice product marketplace. We will have introduced products aimed directly at industry-standard product brands and will become known for high quality, consistent taste, and easy-to-prepare products.
GEFC will actively seek to develop new products and promote expansion into other additional market opportunities.
We will approach the market as a premium manufacturer of premium products with the highest quality organic ingredients. Our reputation will be unmatched in our product segments. We will position ourselves head-to-head with other industry brand leaders while maintaining a degree of perceived "smallness.
Our sales, merchandising, and distribution strategies will play a linchpin role in the success of our company. Our ability to foster relationships within the retail and distribution value chain will challenge traditional business models.
Expected Accomplishments—Year One In order for Good Earth Foods Company to attain its vision as described in our mission statement, the following primary goals need to be achieved in year one of operations.
Develop two products and release to retail marketplace Establish marketing and consumer image processes Establish distribution process for promotions and product release Establish two additional products into development pipeline Participate with industry-leading trade associations for relationship and brand development opportunities Leverage market recognition of the quality of our product and develop demand for our products featuring similar uniqueness Customer Profile Our strategy is to focus first on those prospective consumers who understand food, appreciate high quality food products, and earn a high degree of income.
These customers will be the basis for working out price points, product development, and expected consumer volumes. We believe a ready-made market exists for our products and those in the premium, convenience food category.
The demographics of the typical Good Earth Food Company consumer are: Unveiled a new product line with similar characteristics in February These products included organic certifications. The demonstration of these products was being featured in high-end retail grocery chains.
It is not known whether the features of these products include similar ingredient formulas. Since this company is also a start-up we consider them a direct competitor not only in product, but brand image as well.
There has been no information in the marketplace suggesting this company has gained greater market share than us. Unveiled a new line of products with similar characteristics in March Their product line release included a demonstration of organic products mixed with traditionally processed ingredients.
Like the Smith Specialty Foods demonstration, it was not shown that their product line has any significant market share beyond our own. The Organic Food Market: A person organic product-oriented grocery chain. This company, which has developed its own line of "store brand" products in the past, should be viewed as a partner as well as a tier II competitor.
They have stated that they wish to continually develop competitively branded products but will market them as a moderately processed brand. This company will play a major role in our "retail shelf" strategy. This company has expressed interest in our products and is currently evaluating volume commitments from our manufacturing partners.
Industry relationships are an absolute requirement for competing. The organic industry and marketplace should be seen as a multi-faceted, multi-layered marketspace. Relationships and industry presence at each of these levels plays a critical role in attaining success in this market.How to Write a Business Plan.
When how to write a business plan is at the top of the SBA list of the ten steps in how to start a business, it tells you something about .
An industry analysis conducted before you begin to write a business plan will help you to: Recognize and analyze ways of reducing business risks Identify industry trends including potential problem areas within the industry.
Oregon Business Industry (OBI) is a member-driven advocacy organization, working for sound public policy on behalf of the business community. Business analysis has emerged as a core business practice in the 21 st century.
As the vital link between a firm’s information technology capabilities and its business objectives, skilled business analysts contribute to the profitability of companies large and small, in most every industry. The Boston Business Journal features local business news about Boston.
We also provide tools to help business' grow, network and hire. The business plan is the key ingredient for a successful business and is often ignored. This session shows you how to create an individualized business plan, and provides the tools to make it easy.
The primary value of your business plan will be to create a written outline that evaluates all aspects.