|
The Hormel Family Foundation is now accepting submissions for the 2009 Hormel Business Plan Competition, which will take place on Wednesday, June 12, at the Hormel Business & Technology Center on the McCook Community College campus. The deadline for this year's event is Wednesday, May 27. If you are interested in participating in the competition, it is high time to begin preparing your submission!
Below, you will find the details of the competition. Please visit the Competition Rules before you apply. If you need help crafting a business plan, you may consider investing in a business plan writing software, or visit the Links & Resources portion of the website, which provides link to free advice.
If you are one of our chosen finalists, you will be contacted by the Hormel Family Foundation during the first week of June.
|
An application must include the following:
|
All applicants must mail a signed and completed and hardcopy of the application form to the address below:
Hormel Business Plan Competition
Attention: Susan Harris-Broomfield
1 Prairie Hills Rd.
McCook, NE 69001
The cover letter and business plan may be sent by e-mail, to submissions@hormelfamilyfoundation.com.
|
Each business plan should contain the following sections:
|
-
Table of contents
-
Executive summary: Tell us about your business idea and your objectives. Be short and to the point.
-
Company description: Describe your business. Keep it short and sweet.
-
Product or service: Describe, in detail, what product or service your business offers or will offer. Help us understand the value you bring to the table.
-
Market analysis: Is there a demand for your product/service? Who are your customers/competitiors? Is your market local/statewide/domestic/international? Show us that you understand, and can cater to, your customers.
-
Strategy & implementation: How do you plan to take your idea from dream to reality? We are looking for concrete ideas and examples.
-
Management team: Tell us about yourself, your partners and/or employees. If you have no employees, tell us about the people you plan to hire. Strengths? Experience? Network?
-
Financial plan and projections: Fill us in on your capital needs and projected earnings. Show us that you are fiscally responsible, and understand how to plan and budget for your operation.
|
The most important criteria for the judges are the following:
|
-
A realistic business idea with a good chance of success
-
A keen sense of responsibility toward investors, customers and shareholders
-
A strong sense of community pride and a willingness to give back to McCook
-
Clear, concise and logical presentation, written as well as oral
-
Entrepreneurial spirit, a good work ethic, and integrity
-
Confidence, competence and professionalism
-
Proven market and industry expertise
-
Vision and original thought
|
There is no limit to the length of the business plan, but we ask that you pay consideration to the judges, and keep it as brief as possible without sacrificing clarity. Please use a font that is easy to read, such as Arial or Times New Roman, and opt for double line-spacing. We ask that you number all pages after the cover page, and in order to properly identify your submission, all pages should have a header and a footer stating the name of your business.
|
|