Writing a Business Plan for your Grocery Basket

Details: The Grocery Basket

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Writing a business plan can seem like a daunting task and lots of young entrepreneurs avoid it for this reason. Don't worry, it doesn’t have to be. In this module, we are going to guide you through the different steps so you get an easy start.

The revamping of the fruits and vegetables industry has changed the requirements and you need a thorough planning ahead of launching. Your business plan must include several steps: market research, customer expectations, financial planning and how best to bring products to market. It must describe in detail your goals, objectives, vision and mission.

When you start a project, you usually have plenty of good (or bad) ideas and the business plan is here to take you to the right direction. But never forget the business plan is not something set in stone. Down the road, it can be updated whenever needed. Its final objective is to help you stick to your vision and not get lost along the way.

Last but not least, a solid business plan is essential when it comes to get banks to say yes to your small business loan. Having a clear mission and a set of goals is really important for investors and it will help you reassure potential financial partners. So, let's get started!

Task

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In this module, you will learn how to easily draft a business plan that focuses on the core aspects of your business.

Obviously, plans may vary as much as businesses do and you don’t have to stick to the exact outline. However, there are some essential sections that your business plan should include:

Executive Summary
Business Model and Entity
Marketing Plan
Management and Staff
Investment and Funding

When writing them, don't waste words. If each section is too long, nobody's going to read it. Make it easy for the reader to realize at first glance why your project is of interest.

Our number-one advice would be to use the sections that make the most sense for your needs. Your business must highlight what you can bring and the fact to believe in what makes your project so special helps you write the best content!

Process

How to start working on your business plan? The first thing to do is to draft in your mind a long-term roadmap for the planning and accomplishment of your company overall strategy. If you don't have this long-term vision, think about your objectives in the first couple of months, how you plan to sequence things from planning to execution.

Still have doubts or questions? Don't worry, this is fairly normal and every new entrepreneur feels that way during the first stage of the project. We hope you will find some answers in this module.

Go to the Resources section and look at the file called ‘The essentials of The Grocery Basket business plan’. This document is a brief summary of the sections that are key to your business plan.

Once this first work is done, you are allowed to add any section you may think of interest if you want to target specific purposes or audiences connected with The Grocery Basket business.

In that perspective you will find links and videos that will help you identify additional stuff that it could be worth adding to your business plan.

In the next steps, you need to think of what you will include in each business plan section, and then get data and facts that support it. For that purpose, you can use the file ‘Business Plan Template’*.

Last advise: keep in mind that your objective is to get readers excited about your business idea so don't waste words and make sure to deliver good-quality content.

* business.govt.nz

Conclusion

We hope you found this module useful. Remember that starting a business is always stressful and it is normal not to know everything. If you still have questions at this point, feel free to contact your local employment office for assistance or look for advice from your stakeholders.

Don't forget there is a lot of potential for a good fruit and vegetables selling business in the next years and your business plan will help you better structure your approach to be successful!

Learning Outcomes

Competence Area 1: IDEAS & OPPORTUNITIES

1.10) I can develop (alone or with others) an inspiring vision for the future that involves others.

Competence Area 2: RESOURCES

2.2) I can judge my strengths and weaknesses and those of others in relation to opportunities for creating value.
2.14) I can use the concept of opportunity costs and comparative advantage to explain why exchanges happen between individuals, regions and nations.
2.16) I can explain that value-creating activities can take different forms (a business, a social enterprise, a non-profit organisation, etc) and can have different structures of ownership (individual company, limited company, co-operative, etc).

Competence Area 3: INTO ACTION