A business plan for importing food needs to prove that you know the regulations you'll face, the costs you'll incur in the importation, and the end-use market the food will find in the U.S. Depending on the country or countries from which you'll be importing the food, the costs can vary widely, so make sure you have them pinned down using current market averages. You also need to make a solid case for the end-use consumer. If you're importing Mexican sodas and treats to sell at a Mexican-themed market, what is the demographic base around the location? How many people from Mexico live or work within 5 miles? Other important questions:
• How do you acquire the goods?
• How do you transport the products you get?
• How many people will the import company need?
• What are the biggest threats to your business?
• Can you explain the market need clearly and concisely?
The business plan for importing food should also illustrate the financial performance you project for the company over a period of three years or five years, depending on whether you plan to present for funding at a bank or to private/angel investors. (A bank or SBA-backed loan will only require a 3-year model.) The financials should show your assumptions and the market penetration rate you envision. A use of funds table is critical as is a break-even point and a steady cash flow and balance sheet. MasterPlans is the nation's top business planning firm and we have worked with a wide variety of import/export businesses, start-up and established. Call a consultant today to learn more by dialing toll-free 877-453-2011.
