Business Plan Format
A business plan is a document that details how a company will achieve its goals.
- Executive summary: (Also called management summary) This section is an overview of the company, your unique value proposition, and a team overview.
- Market opportunity: This is where you’ll detail the opportunity in the market. A company must be able to identify who its potential customers are, the specific needs that need to be met, the size of the market, and its capacity to capture market share. Is the gap in the current industry? How will your product fill that gap?
- Key features and benefits: In this section of your business plan, you will review the key features and benefits of your products and/or services.
- Pricing and revenue: This is where you’ll discuss your cost structure and various revenue streams – how will your business make money.
- Target audience: This section will describe who your customer segments are in detail. A target audience is a group of people identified as likely customers of a business. People in a target audience share demographic similarities, such as age, location, or socioeconomic status. What is the demographic and psychographic information of your audience?
- Marketing strategy: Here, you’ll discuss how you’ll acquire new customers with your marketing strategy. The market strategies section presents the target consumer group and the strategies needed to tap into it. It requires an analysis of all aspects of the market, such as demography, cultural norms, environmental standards, resource availability, prices, distribution channels, etc.
- Competitive landscape: Here you will detail who the top competitors in your industry are.
- Financials: Here you’ll detail the funding that’s required and discuss investment opportunities. The financials section should include the company’s balance sheet and cash flow projections. Financial data is imperative to provide credibility to any assertions or claims made about the future profitability of the business. The aim is to provide an accurate idea of the company’s value and ability to bear operational costs and earn profits.
Most business plans include the following sections:
Please note, some business plans might include more or less information, these are the key details you’ll want to include.
Download sample business plan
How to Start a Home-Based Business: A Startup Guide for Entrepreneurs
Sample Grant
Laura Bush 21st Century Librarian Program
Deadline: October 02, 2023
Application form: (PDF 500KB)
Program Overview:
The Laura Bush 21st Century Librarian Program (LB21) supports developing a diverse workforce of librarians to better meet the changing learning and information needs of the American public by enhancing the training and professional development of library and archives professionals; developing faculty and library leaders; and recruiting educating, and retaining the next generation of library and archives professionals.
All applications must designate one of the following project categories:
Lifelong Learning
Community Catalysts
National Digital Infrastructures and Initiatives
The application process for the LB21 program has two phases. For Phase I, all applicants must submit two-page preliminary proposals by the deadline listed above. For Phase II, selected applicants will be invited to submit full proposals (Invited Full Proposals). Only Invited Full Proposals will be considered for funding.
Invited Full Proposals will be due March 26, 2023
Grant Amount: Planning Grants: up to $100,000. National Forum Grants: up to $150,000. Project Grants: up to $1,000,000. Research in Service to Practice Grants: up to $750,000.
Cost Share Requirement: Cost sharing is not considered in the review of applications, but is an eligibility criterion for certain LB21 projects, as follows.
Download sample application
Letter of Inquiry
How to write a Letter of Inquiry
Sample LOI
Name
Position:
Organization/Foundation:
Address:
Dear Mr/Ms.:
Thank you for reading this letter of inquiry. We hope to determine your interest in receiving a full proposal for our project. We respectfully request your consideration of a grant in the amount of $35,000.
This project is our first outreach to our audience. We plan to provide … [list e.g. socialization opportunities, health, and wellness information, and social services when needed.]
Our program fits squarely within your Foundation’s areas of interest [list].
Our satisfaction rate among the [audience] we serve is a very high [%], according to our latest survey. We provide [services] throughout the year.
The [target audience] population of our county is expected to increase by [%] over the next [#] years. Many of those [target audience] are expected to ….
We are proposing [list solutions]. We think that by doing …, we can help …
Sample LOI 2
Date:
Name:
Title:
Organization:
Address Line
City, State Zip
Dear Mr. Or Ms.______
My name is [Your Name) and I am the [Your Title) of [Name of your organization). I am
Delighted to present a new project [Project name] to the [Name of Foundation] for your funding consideration.
[Brief project overview]
[Organization name] is seeking a grant for the purposes of [Purpose]. We will
provide oversight to ensure that grant funds are used in accordance with grant agreements and provide reports as required by the grantor.
Mission Statement:
Project description:
Organizational History:
Sincerely,
Request for proposal (RFP)
A request for proposal or RFP is a document that solicits a proposal often through a bidding process. An organization will openly proclaim that funding is available for a specific program or project and interested companies can place bids or in the case of a grant, apply for the project or funding.
Conclusion
These are sample plans and other grant resources that can come handy when you need them. AfricanAmericanGrants.org is focused on providing you valuable information that can help you start your business by providing you with access to grant resources.
The resources listed above is a guide to help you understand the process of applying for grants and other funding opportunities. For more information on how to access grants for your business, nonprofits, college and community grants, you can now book a 45 minutes grants consultation with one of our grants specialists.