Do you need business plans for a ministry? Religious groups can raise money from public or private sources, but the basic parameters for the business plan required are the same. Questions like what is the market need, what are the other ministries in your area, and what differentiates you from them are critical elements that the narrative of the document should address in detail. What will your ministry offer to its followers? Can you describe precisely what the benefits will be to your community and the parishioners if your ministry is funded? These are the issues the business plan must take under its wing. Some other:
• How will you promote the ministry (advertising)?
• How many people will be on the payroll?
• What is the industry like for other groups like yours?
• If require capital up front, is there a break-even point?
• Do you generate revenue in any way other than charitable donation?
The answers to these questions should have you well on your way to the body of a great business plan. Write the narrative with passion and support any argument you make with current market research and numbers. The financial pro forma you need will vary depending on your corporate classification (501c3 and LLC for example have distinct financial models) but you will need to know some of the same baseline figures in order to get the document together. Need help from experts? MasterPlans has worked with a wide range of for-profit and non-profit businesses on plan development since we were founded in 2002. Call a consultant today and tell us your needs. 877-453-2011
