Summary of module
This module is focused on updating an existing business plan or creating a new one for a transition to a new market. Scaling up and opening new markets creates changes in the business that may trigger new tax mechanisms, new certification requirements, create new risks to manage, open new possibilities for collaboration. During the transition, the financial management of a changing financial landscape is essential. New costs for start up (capitalization for new land, equipment, new operational costs for specific personnel needs, etc.) have to be assessed and monitored in cash flow spreadsheets to ensure a smooth and sustainable transition.
1. Why a Business Plan?
2. Creating a Business Plan
3. Key Topics for a Business Plan
By the end of this module you should have:
The basic material of a business plan, and completed spreadsheets for your budgets, and cash flow plan.
A draft list of measurements you can use to track key financial performance indicators as well as measures that fit your goals and values.
A basic timeline and action plan to build on.
Learning goals/ outcomes
To identify changes in business and financial plans that scaling up requires
To explore the start up costs for the new venture
To identify sources for capitalization and new costs
To create a robust cash flow budget to manage the transition
To identify additional regulations and standards that might affect the scaled up business
This module applies to all food and farm businesses that have decided to scale up and expand their core markets. The business and financial planning (continued in next module) often happen in parallel with the marketing planning in the previous module.