The business plan is a critical step in the development of a successful value-added business. It is a “blueprint” of how you are going to implement your ideas and create a viable business or business expansion.
Although a business plan may be important for raising capital (or other purposes), the primary value of the business plan is for you, the founder(s) of the business. Writing the business plan will force you to think through issues of how you are going to create a successful business or business expansion.
AgMRC has prepared several informational pieces to help you through the business planning process. Writing a Business Plan and Developing a Business Plan will help you understand the planning process and how to proceed. Create Your Own Business Plan will help you identify the elements that you may want to include in your plan, along with important points to consider. A Business Planning Tool is available to help you create a business plan with a question and answer format. Strategic Business Planning for Value-adding Initiatives provides additional perspectives on the process of writing a business plan that will result in a successful business.
Below are sample business plans of value-added businesses.
TAOCO – An aviation deicer/anti-icer product from the glycerin by-product of a biodiesel plant.
Corn Masa Flour Enterprises – A group of farmers integrating forward into the corn masa flour industry.
Indiana Certified Pork – Pork producers creating a certified pork product for a premium market.
More information on business planning is presented in the box at the right.