A good business plan for women's grants needs to show more than just that you'll run a majority-owned woman business. While that is an important selling point to banks and the Small Business Administration has a solid history of supporting minority status businesses, a business plan seeking a women's grant needs to include all of the critical details that make a business plan fundable. The plan should show a clear and compelling market need, a product or service suite that will fulfill this need cleanly and continually, and a management team capable of directing the company forward in the face of any adversity. The complete plan needs to answer the following:
• What is the demographic profile of your ideal customer?
• What target market segment strategy will you employ?
• The personnel plan is important; how will you staff the company?
• Do you have an exit strategy?
• What is the capital requirement you seek from the grant?
Having contingency plans for funding is important as well, so in case the grant is not feasible, make sure the plan is workable for funding sources including traditional bank lending (loan/line of credit) or private investment (angel capital). The financial model should probably show a use of funds that can be adjusted as your needs change and at least a five-year forecast of your planned sales, expenses, and other key metrics. The experts at MasterPlans can write this plan for you. We have worked with hundreds of women-owned businesses, start-up and existing, and have a track record of success dating back to 2002. Call us to learn more at 877-453-2011.
