Are you seeking to start a maize business? One basic tool you’ll need is the maize farming business plan.
Agriculture is a multi-billion-dollar industry with enormous potentials. So, establishing a business such as a maize farm offers loads of opportunities.
COMMERCIAL MAIZE FARM BUSINESS PLAN PDF SAMPLE
Why is a crop production business plan so important? Can one do without it? These are crucial questions that need to be answered rightly. Now, your maize farming business plan is a document that contains every detail of how your business will be set in motion.
In other words, it defines your objectives and how such objectives or plans will be achieved. Central pillars of a maize farming business plan include the marketing, operational and financial components.
Apart from setting your plans in motion, the maize production business plan also helps you attract outside investors.
Outline of a Good Maize Farming Business Plan
As with any plan, some sections or components focus on key areas of operation. These include the executive summary, business description & structure, management & personnel, market research & strategies as well as the financial documents.
Each of these sections helps focus on, and exhaust or clearly state the plan of action and how it will be rolled out.
For a better understanding of these components, let’s get into the details as follows;
Maize farming executive summary section of a business plan is crucial for success. This part or section is written after completing the other sections. However, this short document comes first in the business plan.
The maize farming business plan needs to have this section placed at the beginning to easily provide or summarize the contents of the plan. Here, you want to build interest in the reader to go through the entire document.
This gives an idea of what your maize farming business is about as well as how you plan on executing each task.
What more? You want your executive summary section to inform investors about the potential behind your maize farming business. With this section, investors don’t need to go through the entire plan to know what it’s about.
There are basic elements to have or include in your maize farming executive summary. They include the problem and your solution or value proposition, as well as the market size and growth opportunity.
Other elements include your competitive advantage, business model, executive team, and financial projections as well as funding. These elements will need to be covered in detail to offer the reader an idea of what it entails.
As the name implies, the executive summary should be kept short and precise (about 1 to 2 pages in length).
Business Description & Structure
This part of your plan should provide ample information on what your maize farming business is about.
In other words, you’ll need to explain why you’re in business as well as your products (which is obviously maize). Others include the production process and how inventory and fulfillment among others will be processed.
The agricultural industry is under focus here. As such, there’s a need to proceed by describing maize cultivation focusing on its current outlook and future possibilities. All sources of data must be reliable.
When writing the business description and structure component, you want to avoid making any assumptions as money is involved. Investors won’t rely on assumptions to invest their money.
Your preferred structure will come under focus when describing the produces and services on offer.
Here, the type of operation involved (that is, agricultural production) will need to be clearly stated.
Management & Personnel
All successful maize farming businesses rely on the input of reliable and qualified management and personnel. A lot of hiring is involved here and will take up a significant part of your revenue.
Three points are considered when seeking to hire; who gets hired, the salary or wage structure as well as timing.
There are other sub-sections within this maize farming business plan that cover key aspects. These include an organizational chart, job descriptions, wage or salary amount, type of hire, and when the right time to hire is.
This tool is important for clearly explaining or planning the roles played or to be played by personnel.
In other words, it enables the reader to clearly identify who works for who. Such a staffing chart guides your activity and avoids any conflicting responsibilities.
Your maize farming business will need an active workforce. These hires, whether prospective or existing hires will need to be clearly defined. This section provides the reader with clarity to fully understand who does what.
i. Wage or Salary Amount
Every detail relating to the salary amount must be clearly stated here. It is also written with the understanding that over time, there’ll be percentage increases in pay for workers.
This also includes health insurance among other company benefits.
ii. Type of Hire
Your maize farming business should clearly define the type of hire to help sort or resolve any labor compliance issues that may come up. So, some of your staff may be engaged as independent contractors while others may be salaried.
It all depends on what works best for you.
iii. When the Right Time to Hire Is
Timing is of the essence when laying out your hiring plan. Such employees are only hired when their services are necessary. For temporary staff, there should be a clear date for their disengagement.
Market Research & Strategies
A marketing analysis is needed for your maize farming business operations. This covers your milestones, market analysis, and sales forecasts.
Also, you need to know how you measure against the competition, public relations, and deadlines. These are important aspects of marketing research that need to be included.
Numbers are everything when it comes to business.
Having stated all your claims, the numbers are used to compare for purposes of viability. This section should contain full descriptions of your profit and loss statements, cash flow statements, and balance sheets.
With the information made available here, you shouldn’t have difficulties putting together an excellent maize farming business plan. We’ve included the key sections that require your attention.
These will win your endorsement of investors and also guide your business to success.