How to Make a Five-Year Business Plan for the Meat Goat Business

The first step to success in your goat meat business is to create a five-year business plan. Written business plans are critical if you want a bank loan or investor participation. A business plan is also vital if you are self-funding or have an existing business, as a written plan will help you stay on track and motivated during the first five years of operation. You can write your own business plan and perform the necessary research for the plan's foundation.

Instructions

1. Find an example of the format to use for a business plan. All business plans are structured using a basic format. You can make modifications to adapt the template for your goat meat business. The United States Small Business Administration (SBA) supplies business plan templates for new and existing businesses. The SBA partners with SCORE, a volunteer organization that operates in localities. SCORE provides business counseling and materials free of charge to small businesses.

2. Research your competitors and the market for your goat meat business. You will need information related to the average price of goat meat, such as how much is consumed, how much your competitors are selling and more. The information you gather will be used to complete the Market Research and Industry sections of the business plan. This same information will also be used to help you justify information in your Marketing Plan and Future Projections sections.

3. Complete additional supporting documents provided by SCORE that include Balance Sheets, Breakeven Analysis, Cash Flow Statement, Competitive Analysis, Financial History, Profit and Loss Projections to five years, Sales Forecast and Start-up Expenses (if applicable). Completing these forms will give you a solid idea of how your business will do during the first year and in the fifth year.

4. Write your five-year business plan using the information you have gathered and following the format of the template. Write in the third person, referencing the goat meat business as its own entity apart from yourself.

5. Rewrite the finished plan to clean up grammar and project a voice of authority regarding your goat-meat business. Spell-checking is critical if this is to be seen by others; misspellings can make the best plan look amateurish.

6. Have the plan read and critiqued by somebody knowledgeable if your goal is to use it for bank funding or to obtain investors. The volunteers at SCORE are individuals with a strong business background who will be happy to evaluate your five-year business plan for submission or help you make improvements for a great first impression.

Tips & Warnings

• If you need a simple plan for your eyes only, create your business plan online using the SBA's online business plan template. Add your information and the system will provide you with a properly formated business plan.

• If you are seeking funding from investors, it is always best to write the business plan yourself rather than hiring a service. Investors want to be sure that you thoroughly know your business and the market.

References

• SBA: Write A Business Plan
• SCORE: Business Plan Template
• SCORE: Template Gallery

Resources

• Read this Article in Spanish
• SBA: Online Businesses Plan Builder