I. Overview of Business. The name of the business will be Birch Lane Flower
Farm. As a business enterprise we will be selling cut flowers in bunches at a farm
...
Plant Science Entrepreneurship Business Plan (Example) I. Overview of Business The name of the business will be Birch Lane Flower Farm. As a business enterprise we will be selling cut flowers in bunches at a farm stand on the property. We will also be offering pick your own flowers. One objective for Birch Lane Flower Farm will be to make a profit of $250.00 for the summer of 2007. Another objective is to help educate families on gardening and cut flowers. By having a pick you own flower farm with well labeled areas and information on each of the different types of flowers, families will be offered a fun, educational opportunity. The last objective for Birch Lane Flower Farm is to offer a pleasant experience while visiting the business. II. Physical Area Birch Lane Flower Farm is located one a half miles off of route 78 on Hart Road. I will rent two acres from my parents for $50.00 a month. I found an old shed that I will be fixing up to make the farm stand. The two acres that I am renting are located right off the road, with a good area for a dirt parking lot that can fit fifteen cars. The attached drawing shows where I plan on placing the farm stand, where I will be planting the different types of flowers, and how the parking lot will be positioned. Equipment that will be needed to begin this operation will be a roto-tiller, garden hoe, two garden shovels, 20 hand pruners, and a chainsaw. I already own a garden hoe, two garden shovels, and 5 pairs of hand pruners. Supplies that will be needed are irrigation lines, hoses, sprinklers, safety gear, seeds, rubber bands, vases, floral knives. I already own hoses, sprinklers and safety gear. III. Financial Plan The investment required includes the cost of renting the property and the equipment that is need in order to run the business efficiently. Also, I will need to buy in lumber and nails to fix the farm stand. Below is a list of investments that will need to be made. Investments Required: 2 acres rented for 4 months Roto- Tiller Hand Pruners Chainsaw Seeds Rubber Bands Vases Floral Knives
Cost: $50 x 4 = $200.00 $250.00 $5 x 15 = $75.00 $200.00 $56.00 $5.00 $48.00 $8 x 4 = $32.00
Lumber for Farm Stand
$150.00
Total Investments Needed:
$1,016.00
In order to help pay for the land and the equipment, I will have to take a loan out from the FFA Alumni. I will take the loan out for $1,000.00, and will pay them back over the four months that I will be open. I will pay them back in installments of $250.00 each month. The projected sales figures (see below) shows the business making approximately $250.00 in sales my first year. This also shows an inventory list of all items we will sell. Item: 25 Small Flower Bouquets 20 Medium Flower Bouquets 15 Large Flower Bouquets 100lbs Pick Your Own Flowers
Price for One: $8.00 $12.00 $20.00 $6.00
Total Sales: $200.00 $240.00 $300.00 $600.00
Total Sales:
$1,340.00
Net Profit (Sales-Costs)
$324.00
IV. Marketing: Since I have lived in this area my entire life, I will be familiar with the fact that the small town is very family oriented. In order to promote my business, I will place an ad in the local newspaper, Flyers in the local businesses (grocery stores, animal supply store, post office, etc.), and a large sign out front and on the corner of the road. Attached you will find a copy of the flyer I will posting. V. Risk Management When this project is started there are several different problems that could occur. First off, I may not receive the funding that I am relying on from the FFA Alumni. If many students apply for loans through the Alumni, I may not receive the full $1,000. If this occurs I could ask my parent for a loan, or I could decrease my profit goal of $250.00 to $100.00, and only rent one acre of land from my parents, thus decreasing the amount of money I would have to spend the first year. Another problem I could have is crop failure. If we have a bad drought, or if I have a bad pest problem, I could potentially loose my crops. If this happens, I will have to either replant my plants (if it happens early enough in the season), or I will have to find a different job to help pay off the loan that I took out. I could potentially do yard work for people (lawns, spring and fall clean up) or I could work at one of the local flower farms. This would help me pay off the loan, and would also help increase my knowledge and skills in the plant science areas so that I could learn from my mistakes and try starting up my business the following year once again.
