For educational grant applicants, in a one page document please identify the education you are seeking, how long it will take to acquire this education, the purpose of the business skills you are seeking, your 10 year plan for using this education and how this money will benefit your long-term career goals.
In a one page document, please tell us about your business, why you started the business or why you intend to establish the business, your 5 or 10 year business plan and how this money would benefit your business goals.
-Business History: Include a summary of WHAT your business is, WHEN the business was opened, WHO opened the business, WHY the business was opened, and WHERE the business was originated. Please provide a brief explanation explaining your Vision, Mission, and Goals for your business.
-Products and Services: Discuss how your business generates revenue. What are your primary and secondary sources of income? Describe the products being sold and why there is a market for them. Explain why there is a demand for this and why your target market will come to you for this product/service. Discuss pricing for your products/services. How does this compare to the industry average? How does this fit into your projected revenue? Talk about anticipated volume sold and cost percentage.
-Competitive Analysis- Discuss the market saturation of businesses in your industry and the demand for them. What sets your business apart from competitors and will attract your target market? If your business is already in operation, discuss how you currently address challenges relating to competitors and what this could look like if others join the market.
-Local Economic Conditions - Discuss recent economic trends nationally and locally. Talk about industries related to yours and how they have been affected by the economy and current event.
-What kind of team do you require to make your business successful? Talk about who you need and if they are already employed with you, if you have individuals chosen, or if you need to start looking for individuals to fill job openings. How do you plan to find and retain employees if needed?
-What is the total project cost? Lay out the amount of equity contributions and grant financing required to move forward with the project.
-Who is your target market? What is the size of the market you will be servicing and how often will they use your product or service? What is the average income of your target market and how does that fit in with your pricing and anticipated frequency of use?
-Sales Forecast – Please provide projections and supporting data of research performed that lead to the conclusion within your projections. If this is an existing business, talk about historical sales and what adjustments or changes you anticipate taking place, if any.