A business plan serves as a written description of your businesses goals, obstacles, and path to success. Business plans are used for a number of things; attracting investors, applying for grants, conveying your vision to attract partners and supporters. It outlines your business’s goals, the strategies necessary to attain them, the obstacles facing your business, ways you plan to overcome them, the organizational framework (including titles, responsibilities, and staffing requirements), and the amount of capital necessary to break even.

Often, the information gathered to produce a feasibility study is used to form a business plan. Because these two documents share fundamental information in common, one is usually done in conjunction with the other.

While business plans are tailored to each venture and their respective industry, a business plan is a formal document that is typically made up of the following three broad sections:

1. Business Concept Presentation. This section describes in detail the history of the business or idea, the product that will be produced, and a detailed overview of how the business will operate
2. Marketing/Customer Analysis. This section usually contains a brief industry overview, research and analysis of the customer that the product will be sold to, and a plan to market the end -product.
3. Financial Details. This section usually presents income and cash-flow statements, balance sheets, break even analysis, and other financial documents.

We sponsor various conferences around the state that address value added opportunities for our producers.

In addition to our formal business planning services, VA FAIRS also offers an on-line Virtual Business Center which can assist with the creation of a business plan.  

View sample business plan here

If you are interested in having VA FAIRS create a business plan, please contact us.