Business Plans

Black StartUps > Business Plans

Business Planning Process

The conducting of feasibility studies and development of professional business plans are key services which Black StartUps provide. A feasibility analysis tells you whether a business idea is viable whilst the business plan tells how the idea will be implemented. Whatever type of business you wish to engage in, you should firstly obtain advice as to its viability before investing in a business plan which is like a road map for successfully implementing a business idea, which should be assessed as viable in a feasibility study.





The most common type of business plan is a startup business plan which describes a new business concept. This plan documents the intended business concept and lays the road map for the implementation and management of the business concept along the path of success.

Over 50% of new businesses fail within their first year of operation. Apart from mere luck, well thought out and documented feasibility studies and business plans are the only way to ensure the successful implementation of business ideas.

How It Works

Our Business Planning Process Includes Managing the Funding Approval Process 

Feasibility Study

We perform an initial feasibility study to assess  whether a business idea or concept is viable enough to build a worthwhile business

Business Plan

We use the results of the feasibility study to develop the business plan which provides the framework for how the business will be implemented.

Funding

We submit our compelling business plans to a variety of investors and lending institutions which should result in obtaining funding. 

Feasibility Study

Before the development of a business plan is embarked upon, the business concept must be assessed to be viable which is performed by conducting a feasibility study. Well-documented feasibility studies and business plans are of key interest to prospective investors.

Is the business legal? For example, until relatively recently, the sale of marijuana was illegal across Canada and it might still not be permitted in certain municipalities.

Are there sufficient people that will buy this product or service at a price that will result in profits for the business?

Does the business make use of the most appropriate technology? 

Does the overall economic environment support this business idea? If a period of prolonged economic decline is expected, the demand for certain products and services will be more negatively impacted than others. 

Can the business effectively deploy an operation to produce the products and services to meet the market demand?  

Can the business idea produce goods or services which can be efficiently transported to the market? This is of more critical importance to businesses in the farming industry but is also of importance in all businesses.

Business Plans

Business Plans incorporate the results from the feasibility assessment which attest that the business idea is viable. As well, a Business Plan will provide the framework of how the business will be implemented.

Vision

The business plan must also include the Business Vision which provides a high-level description of how the business will operate to achieve its mission. It shapes the business strategies, goals, and objectives.

Mission

The business plan must clearly state the Business Mission which is the purpose of the business. It is based upon satisfying the market need which is validated at the feasibility stage.

Appropriate Technology

Investors will expect to see the deployment of appropriate technology in every business plan as it is key to the future success of the business.

Appropriate technology means technology that is most current and suitable for the business in that it enables the business’ functions by reducing costs or adding customer value.

Operational

The business plan will include an operational plan that translates the business mission and vision into the production of goods or services.  

The effective deployment of appropriate technology is an important element of the operational plan.

Marketing & Advertising

The business plan will also include a marketing & advertising plan for communicating to the market the availability of the products and services created by the business. 

Logistics or Service Delivery

The business plan will also include a logistics or service delivery plan that details how the product or service will reach the consumer.

The effective deployment of appropriate technology will be an important part of the logistics or service delivery plan.

Financial Projections

In order to obtain funding, the financial projections must indicate overall profitability to compensate investors and sufficient positive cash flows to repay any loans.

Funding

Most frequent questions and answers

Funding Submissions

We submit your business plan for funding under the Black Entrepreneur Program to major banks as well as to private investors. 

Manage Funding Approval Process

We provide support and manage the funding approvals process by liaising with the lenders and investors on your behalf.

Black Entrepreneur Program

Funding is available from major banks and the FACE Coalition (sponsored by the Government of Canada) for the startup or growth of Black Owned Businesses.

Private Investors

Private investors are also interested in funding Black Owned Businesses.

Important Business Planning & Implementation
Stages

Determine if your business idea is feasible

Suggest ways of improving your business idea

Incorporate the use of appropriate technology

Create a blue print framework for establishing your business

Submit business plans to lenders and investors

Manage the funding approvals process

Provide ongoing business services and support

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  • 666 888 0000
  • customerservice@blackstartups.ca
  • Suite 102, 9199 Yonge St, Richmond Hill, ON, L4C 1H7
  • Contact Form

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