The business plan for a library often seeks a combination of private investment from donors and an allowance from the municipal government in which the library will be located. Private investment in a venture like this is typically seen as a donation (i.e., it's not a revenue-generating enterprise for capital partners), so a 501c3-style financial model to show the use of funds is a safe bet. If the library generates a profit (from fees or surcharges on photocopies, for example) this sum is most likely re-invested into the library. If you have another use in mind for any excess revenues after your costs have been covered, make those clear in the plan. Also important:
• Where will the library be located and how many people will it service?
• Is there already a usable building at this site, or will new construction be required?
• What is your target market for books and library services?
• Do you intend to sell retired volumes through secondary sources?
• What are the staffing needs for the library?
Libraries fulfill a very basic and universal need in our societies – they provide a way to shape young minds, an outlet for the underprivileged, and a way to make higher learning more affordable for all. In most circles, they are viewed as an essential public service. While this may seem widely understood, your business plan should describe this market need. Give all of the details you can about how you envision the library working – how will you promote it, how many volumes can you acquire, how large will the public-use areas be, how many computers will you need, what will the schedule and hours be, and so forth. A market analysis and implementation strategy should be included as complements to the financial forecast. Need assistance with this document? Call the business planning experts at MasterPlans today – our team of first-class writers, researchers, and financial modelers can develop your plan quickly. (877) 453-2011.
