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20 Business Plan Quiz Questions and Answers

A business plan is a comprehensive document that outlines the goals, strategies, and financial projections of a business venture. It serves as a roadmap for entrepreneurs and stakeholders to understand the direction and viability of the business. Here’s an overview of the key components typically included in a business plan:

Executive Summary: This section provides a concise overview of the entire business plan. It highlights the company’s mission, vision, key objectives, and a summary of the proposed business model.

Company Description: Here, you’ll provide a detailed explanation of your business concept. Include the type of business, its legal structure, location, target market, and any unique selling propositions that set your business apart.

Market Analysis: Conduct thorough market research to understand your industry, target market, and competitors. Identify trends, potential opportunities, and challenges. Explain how your product or service will meet the needs of your target audience better than existing solutions.

Organization and Management: Describe the organizational structure of your business, including key team members, their roles, and relevant experience. Investors want to know that you have a capable team driving the venture.

Article overview

Part 1: 30 business plan quiz questions & answers.

1. Question: What is the primary purpose of a business plan? a) Secure funding b) Improve employee morale c) Enhance customer service d) Increase market competition Answer: a) Secure funding

2. Question: Which section of a business plan outlines the company’s mission and vision? a) Marketing strategy b) Financial projections c) Executive summary d) Company overview Answer: d) Company overview

3. Question: Which of the following is NOT a common business plan component? a) Competitive analysis b) SWOT analysis c) Cash flow statement d) Social media strategy Answer: d) Social media strategy

4. Question: What is the purpose of conducting a market analysis in a business plan? a) Determine the company’s competitors b) Develop financial projections c) Define the company’s mission d) Set employee goals Answer: a) Determine the company’s competitors

5. Question: Which section of a business plan highlights the company’s unique selling proposition (USP)? a) Marketing strategy b) Company description c) Competitive analysis d) Financial projections Answer: a) Marketing strategy

6. Question: What financial document shows a company’s revenues and expenses over a specific period? a) Balance sheet b) Cash flow statement c) Income statement d) Profit and loss statement Answer: c) Income statement

7. Question: In a business plan, what does ROI stand for? a) Return on Investment b) Revenue on Investment c) Risk of Inflation d) Rate of Interest Answer: a) Return on Investment

8. Question: Which business plan section outlines the marketing tactics to promote a product or service? a) Financial projections b) Market analysis c) Marketing strategy d) Company overview Answer: c) Marketing strategy

9. Question: What is a break-even analysis used for in a business plan? a) Identifying potential customers b) Calculating potential profits c) Determining the point of profitability d) Analyzing competitor strategies Answer: c) Determining the point of profitability

10. Question: In a business plan, what does the term “SWOT” stand for? a) Strengths, Weaknesses, Opportunities, Threats b) Sales, Workforce, Objectives, Technology c) Strategies, Workflow, Operations, Targets d) Success, Wealth, Objectives, Tactics Answer: a) Strengths, Weaknesses, Opportunities, Threats

11. Question: What is the purpose of an executive summary in a business plan? a) Provide an overview of the company’s history b) Detail the company’s long-term objectives c) Summarize the key points of the entire plan d) Highlight the company’s competitive advantages Answer: c) Summarize the key points of the entire plan

12. Question: Which financing option involves giving up ownership shares of a company in exchange for capital? a) Debt financing b) Equity financing c) Venture capital d) Angel investing Answer: b) Equity financing

13. Question: What does the term “KPI” mean in a business context? a) Key Performance Indicator b) Key Profit Increment c) Key Planning and Implementation d) Key Personnel Improvement Answer: a) Key Performance Indicator

14. Question: What section of a business plan should discuss the company’s organizational structure and management team? a) Market analysis b) Financial projections c) Company overview d) Marketing strategy Answer: c) Company overview

15. Question: What type of business plan primarily targets internal decision-making and planning? a) Startup business plan b) Strategic business plan c) Operational business plan d) Feasibility business plan Answer: c) Operational business plan

Part 2: Download business plan questions & answers for free

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16. Question: What external factor analysis tool helps identify the political, economic, social, and technological influences on a business? a) PEST analysis b) SWOT analysis c) BCG matrix d) Porter’s Five Forces Answer: a) PEST analysis

17. Question: Which statement best describes a vision statement in a business plan? a) Outlines the short-term goals of the company b) Identifies potential risks and challenges c) Describes the company’s future aspirations d) Analyzes the company’s target market Answer: c) Describes the company’s future aspirations

18. Question: What is the purpose of conducting a competitive analysis in a business plan? a) Identify potential partners b) Analyze customer feedback c) Evaluate strengths and weaknesses of competitors d) Forecast financial performance Answer: c) Evaluate strengths and weaknesses of competitors

19. Question: Which financing option involves borrowing money that must be repaid with interest over time? a) Debt financing b) Equity financing c) Venture capital d) Angel investing Answer: a) Debt financing

20. Question: What does the term “ROI” stand for in the context of financial analysis? a) Revenue on Investment b) Return on Innovation c) Risk of Inflation d) Return on Investment Answer: d) Return on Investment

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135 Business Plan Questions

Embarking on the business journey of your dreams begins with a robust business plan. This plan is not just a document—it’s the roadmap to your success, painting a clear picture of where you’re headed and how you plan to get there.

Whether you’re a seasoned entrepreneur or a hopeful startup pioneer, the questions I’ve compiled are designed as your compass, guiding you through the intricate landscape of business strategy.

From your executive summary to the details of your financial projections, each question serves to dig deep into the essence of your vision, solidifying your plan with precision and care.

Table of Contents

Executive Summary

What is the core mission of your business?
How would you describe your company’s business model in simple terms?
What unique problem does your business solve for its customers?
What are the short-term and long-term goals of the company?
Who are the intended clients or customers of your business?
What is the vision statement for your business?
Who are the founders and key team members, and what are their roles?
How does your company set itself apart from the competition?
What are the main achievements or milestones of your business to date?
What key opportunities do you see in the market?
How much funding are you seeking, and how will it be used?
What are the main products or services your company offers?
What is the current stage of your business (concept, start-up, growth)?
How do you see your company evolving in the next five years?
Can you summarize the financial outlook and projections for your company?

Company Description Considerations

What is the legal structure of your business (e.g., sole proprietorship, LLC, corporation)?
How did the idea for the business originate, and how has it been developed?
Who are the target customers, and why will they choose your business?
What are the key elements of your business’s operations?
What are the specific advantages of your location or facilities, if any?
How does your company’s history and background set it up for success?
What business sector or industry does your company fall under?
How does your company contribute to the economy and community?
What partnerships or collaborations are essential to your business?
What are the core values and culture of your company?
How does your business respond to changes in the market?
What relevant certifications, licenses, or permits does your business hold?
What are the main risks and challenges your business faces?
What role does sustainability play in your company’s operations?
How does diversity and inclusion manifest in your company?

Market Analysis

Who is your primary target market, and what are their defining characteristics?
How large is the target market, and what is its projected growth?
What are the trends and themes currently shaping your target market?
Who are your top competitors, and what are their strengths and weaknesses?
What is your market share, or what market share do you project to capture?
How do your target customers make their purchasing decisions?
What factors influence the demand for your products or services?
What barriers to entry exist in your market, and how can they be overcome?
How does pricing play a role in your market position?
What is your value proposition to customers in comparison to competitors?
How might technology impact your market in the future?
What are the legal or regulatory factors affecting your market?
How have external factors like the economy affected your market historically?
How does geography affect your market and business model?
What are the risks associated with your target market?

Organization and Management Structure

Who comprises the leadership team, and what are their backgrounds?
What is the organizational structure of your business?
How will your management team help achieve the business’s goals?
What gaps exist in your current team, and how do you plan to fill them?
What are the roles and responsibilities of your management team members?
How does the management structure align with your business strategy?
How does your team make decisions and communicate internally?
What systems are in place for performance management and accountability?
What is your plan for recruiting and retaining skilled employees?
How do you approach leadership development and training?
How does the current team’s expertise align with the business goals?
What are the board of directors’ roles, if applicable?
How do you plan to create a productive company culture?
What external advisors or consultants does the business use, and why?
How have you planned for succession in key management roles?

Service or Product Line Inquiry

What are the main products or services your business offers?
How do these products or services fulfill customer needs?
What is unique about your products or services?
How does product/service quality compare to competitors?
What is the lifecycle of your products or services?
How is your product or service produced or delivered?
Are there any patents, copyrights, or trademarks involved?
What research and development activities are you pursuing?
How do you plan to expand your product or service range?
What customer feedback have you received about your product or service?
How does your product or service adapt to changes in the market?
What is the pricing strategy for your products or services?
How does your product or service contribute to your brand image?
What are the future plans for developing your product or service?
How do warranty or guarantee terms play into your offering?

Marketing and Sales Strategies

What marketing channels will you use to reach your target audience?
How will you position your company within the market?
What promotional strategies will you utilize to attract customers?
What is your sales forecast for the first year and beyond?
How will you set sales targets and measure success?
What sales tactics will you employ to enhance customer acquisition?
How will your marketing and sales strategies evolve as the business grows?
What is your approach to online and social media marketing?
What customer relationship management processes will you put in place?
How do you plan to establish your brand identity?
What partnerships or sponsorships will you leverage to enhance marketing?
What are your strategies for repeat business and customer loyalty?
What is your process for tracking marketing ROI?
How do customer service and support fit into your sales strategy?
How does your marketing strategy cater to different customer segments?

Funding Request Fundamentals

How much total funding is required to reach your business objectives?
What specific purposes will the funding be used for?
What is your proposed timeline for the utilization of funds?
What types of funding (e.g., equity, loan) are you pursuing?
How will investors or lenders get a return on their investment?
What is the current financial position of the business?
How much equity are you willing to exchange for investment?
What are the key financial milestones that the funding will help achieve?
What are the terms you’re seeking for any loans?
How do you plan to manage cash flow and ensure financial stability?
What collateral, if any, are you offering to back up your funding request?
How does the funding impact your business’s financial projections?
What is the exit strategy for investors?
How will additional funding influence your strategic business decisions?
What contingencies do you have in place if you don’t secure the expected funding?

Financial Projections and Feasibility

What are your financial forecasts for the next three to five years?
How did you arrive at your revenue and expense estimates?
What are the key assumptions underlying your financial projections?
What are the projected cash flow statements for the next few years?
What is your break-even analysis showing?
What are your strategies for maintaining a healthy profit margin?
How do you plan to monitor and manage financial risks?
What is your approach to pricing and cost control?
How will you balance reinvestment in the business with profitability?
What financial metrics will you use to gauge business performance?
How will you handle unexpected financial shortfalls or emergencies?
What is your strategy for financial record-keeping and accounting?
How do customer payment terms and cycles affect your cash flow?
What financial software or tools do you use for projections?
How will financial trends and economic conditions potentially impact your projections?

Appendix and Supporting Documents

What supporting documents will you include in the appendix?
How will these documents reinforce your business plan’s credibility?
What resumes or biographies of your team members will you present?
What legal documents are relevant to include (e.g., licenses, permits)?
How can we access extensive market studies mentioned in the plan?
What are your key technical product specifications or service descriptions?
How do your financial statements and accounting documents get audited?
What testimonials or case studies from customers can you showcase?
What press coverage or media mentions has your business received?
Can you provide industry endorsements or expert opinions?
How will technology prototypes or demos be made available for review?
What are your policies and procedures manuals like?
How do your charts, graphs, and tables support your plan’s data?
What correspondence or contracts with suppliers/partners are appropriate to include?
How does your intellectual property documentation reflect on your business’s value?

Frequently Asked Questions

Can i write a business plan myself, or should i hire a professional.

Writing a business plan yourself is possible, especially with the aid of specific questions that cover all business aspects. However, hiring a professional can provide expertise and a polished result, particularly if you seek significant funding.

How often should I update my business plan?

Regular updates are crucial—annually at minimum or more often if your business is rapidly changing. This keeps your business plan relevant and useful as a dynamic, guiding document.

What’s the most critical part of a business plan?

While all sections are important, the Executive Summary is critical as it’s often the first (and sometimes only) part read by potential investors or partners. Clear and compelling financial projections are also vital for potential funders.

Final Thoughts

As your blueprint comes together, remember that the strength of your business plan lies in its details and its ability to represent the vision and practicalities of your enterprise honestly.

The questions outlined will challenge you to think critically, anticipate future hurdles, and prepare for success. With these comprehensive inquiries as your cornerstone, you can turn your business from a dream into an actionable, thriving reality.

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Business Plan Essentials Quiz

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5 questions, which section of a business plan provides an overview of the entire plan and includes the organization's mission statement and the products and services offered, what should be included in the business description section of a business plan, why is it often recommended to write the executive summary of a business plan last, what distinguishes the business description section from the market analysis section of a business plan, in the business description section of a business plan, what information is important to include about the industry the company plans to serve, description.

Test your knowledge of essential business plan components with this quiz! Learn about the key sections, from the executive summary to financial projections, and see how well you understand the crucial elements of a successful business plan.

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30+ Business Plan Questions & Step-By-Step Business Plan Guide

22 March 2024

Table Of Contents

30+ Business Plan Question s

8 Steps to Creating a Full-Proof Business Plan

SurveySparrow: The Best Business Plan Tool

Whether in business, marketing, or sales, you know how crucial a solid business plan is to your success. It’s not just about getting started—it’s about setting a clear direction for growth and innovation. This blog is your first step toward clarity and strategy.

Creating a comprehensive business plan is critical for entrepreneurs and business owners. It serves as a roadmap for your business and helps secure funding from investors and banks.

A well-crafted business plan should address key areas of your business, providing a detailed overview of its objectives, strategies, and financial projections.

Here’s a guide structured around crucial categories, each followed by pertinent business plan questions that will help in developing a robust business plan

30 Critical Business Plan Questions to Ask

Whether you’re steering a startup toward uncharted territories, aiming to elevate an established brand, or driving relentless sales growth, your business plan is the compass that guides your strategy, operations, and financial foresight.

Understanding this, we’ve compiled 30 questions designed to ignite your planning process and refine your business strategy.

Here we go.

Executive Summary

What is your business’s mission statement?
What products or services does your business offer?
Who are the founders, and what is their background?
What is the current stage of the business (concept, start-up, expansion)?
What are the key financial highlights?

Market Analysis

6. Who is your target market, and how large is it? 7. What are the current trends and growth in your industry? 8. Who are your competitors, and what are their strengths and weaknesses? 9. How does your business fit into the market? 10. What is your unique value proposition?

Wait, wouldn’t you need a survey to run these questions and gather feedback? What if I told you that you can do that easily with Surveysparrow .

If you’re ready to chart your business path, grab our Free Business Plan Questionnaire Template . Begin your journey to success now.

Marketing and Sales Strategy

11. How will you reach your target market (marketing channels)? 12. What is your pricing strategy? 13. How do you plan to sell your product or service? 14. What is your sales forecast for the first year? 15. How will you measure the success of your marketing efforts?

Operations Plan

16. What is the location of your business, and why? 17. What facilities and equipment do you need? 18. Who are your suppliers, and what are your supply chain logistics? 19. What is the production process? 20. How will you ensure quality control and customer service?

Management and Organization

21. Who makes up the management team, and what are their roles? 22. How does your organizational structure look? 23. What are the backgrounds of your team members? 24. What gaps in expertise or knowledge exist in your team? 25. How will you fill these gaps (hiring, advisors, etc.)?

Financial Plan

26. What are your startup costs? 27. What is your break-even analysis? 28. What are your projected profit and loss statements for the first 1-3 years? 29. What are your cash flow projections? 30. What are the assumptions underlying your financial projections?

By carefully answering these questions, you can construct a thorough business plan that addresses all the critical components needed for your business’s success. Remember, a business plan is not a static document; it should evolve as your business grows and adapts to market changes.

A Journey Begins: Identifying the Problem
The Voyage of Discovery: Defining Your Customers
The Battle Plan: Reaching Your Customers
Understanding the Landscape: Identifying Your Competitors
The Strategy Map: Outlining Your Operational Plan
Charting the Course: Defining Your Business Structure
The Guardian of Your Venture: Creating a Risk Management Plan
Calculating the Costs: Budgeting and Financial Projections

1. Identify the Problem

Just as any memorable journey starts with a step, every successful business starts with identifying a problem.

The burning question to answer here is: what problem is your business attempting to solve? Remember, the more specific the issue, the better your chances of designing a unique solution that customers will flock to.

2. Define Your Customers

Identifying your target customer is crucial in the business planning process. This involves understanding and defining your potential customers’ specific demographics, psychographics, behaviors, and needs.

By doing this, you can tailor your products, services, and marketing strategies to meet their specific needs. The more precisely you can define your target audience , the more effectively you can serve them and set your business up for success.

3. Reach Your Customers

Now that You’ve discovered your target customers. Now comes the next challenge: How do you reach them?

Consider all possible marketing channels. Will it be social media? Email newsletters? Influencer partnerships? The choice is yours, but ensure it aligns with where your customers spend their time. After all, there’s no point in sending smoke signals if your customers are tuned into the radio.

4. Identify Your Competitors

Now you have your bearings; it’s time to study the lay of the land. This means understanding your competition. The question is: Who are they, and how do they solve the same problem?

Understanding your competitors will help you differentiate your business and position it uniquely in the market. After all, in the quest for customer loyalty, your unique selling proposition (USP) is your Excalibur.

5. Outline Your Operational Plan

So, you’ve identified the problem, defined your customers, planned your marketing, and sized up the competition. You’re almost ready to set sail. But first, there’s another significant piece of the business puzzle to put in place: your operational plan.

Your operational plan should include a detailed plan for sourcing deals. Using the Grata data deal sourcing platform can further help streamline this process and ensure you have access to the most relevant and up-to-date information.

How will your business function day-to-day? What resources will you need? Answering these business plan questions will help you create a clear blueprint of your business operations, ensuring your venture runs as smoothly as a well-oiled machine.

6. Define Your Business Structure

One question that’s often overlooked in the excitement of crafting business plans is this: What is your business structure? Sole proprietorship, partnership, corporation, or LLC ?

Your business structure will significantly affect taxation, liability, and other legalities. It’s like choosing the right ship for your journey – you need one that will safely weather the storms of your entrepreneurial voyage.

7. Create a Risk Management Plan

In the entrepreneurship journey, bumps and detours are part of the course. Having a risk management plan is essential. The business plan question is: What potential obstacles might you face, and how will you mitigate them?

A well-thought-out risk management plan ensures you’re prepared for the challenges ahead.

8. Create Budget and Financial Projections

Now, onto the numbers. What will be the cost of starting and running your business? How soon before you break even? Financial forecasts might seem as daunting as navigating uncharted waters, but they’re vital in answering the essential business-related question : Will your venture be financially viable?

How Can SurveySparrow Help You in Critical Business Planning

With SurveySparrow by your side, you’re never alone in your business planning journey. Its extensive suite of customer and employee experience tools offers invaluable insights to help answer all these key questions in your business plan.

Use SurveySparrow to conduct comprehensive market research, understand customer behavior, and even keep tabs on employee satisfaction. With this trusty tool, you’re well-equipped to answer all your business plan questions, ensuring your entrepreneurial journey is successful.

Here’s how you can do it.

Market Research : SurveySparrow allows you to design and distribute surveys to gather insights about your market. You can explore potential customer needs, preferences, and pain points and evaluate market trends and size, all of which are critical inputs for your business plan.

Customer Segmentation and Profiling : Using SurveySparrow, you can categorize your potential customers based on their preferences, behavior, demographics, and more. This can help you define your target market, tailor your offerings, and devise effective marketing strategies.

Competitor Analysis : By surveying consumers, you can gain insights about your competitors – their strengths, weaknesses, and what customers think of them. This data can be vital in positioning your business uniquely in the market.

Pricing Strategy : You can use surveys to understand what customers are willing to pay for your product or service, helping you devise a suitable pricing strategy.

Risk Assessment : Use surveys to gather feedback about potential risks or barriers to your business. Understanding these risks in advance can help you form strategies to mitigate them.

Employee Engagement : If you plan to have employees, understanding their needs and expectations is crucial for crafting your operations plan and culture. SurveySparrow can assist with gathering employee feedback and gauging engagement .

Product Testing : Before launching, you can use SurveySparrow to get feedback on your product or service. This can help you fine-tune it according to your target market’s needs and preferences.

Financial Projections : The data you gather from customer and market surveys can help inform your sales forecasts and financial projections, key business plan components .

In short, SurveySparrow can offer a wealth of information, helping you answer the critical questions in your business plan. You’re better equipped to create a robust, data-driven business plan by leveraging these tools.

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That’s All of It.

Remember, every successful business starts with a comprehensive business plan. And every comprehensive business plan starts with answering the right questions. So, go ahead and take the plunge. Your entrepreneurial journey awaits, and with SurveySparrow as your co-pilot, you’re set for an exciting voyage.

After all, the sky’s the limit regarding what you can achieve in the business world. Onwards and upwards, future tycoons!

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6 Critical Questions Your Business Plan Must Answer If you want to lay the groundwork for a stable business and attract investors, make sure you're hitting these points.

By Larry Alton • Mar 18, 2015

Opinions expressed by Entrepreneur contributors are their own.

Never underestimate the importance of your business plan . It is the backbone of your company, a foundational pillar from which your enterprise will be built. It's going to serve as the first impression for countless potential partners and investors, and it's going to serve as a roadmap for your whole business -- at least for the first several years.

In some ways, writing a business plan is easy -- there are no rules or requirements for length, format, presentation, or even subject matter. But finding the right answers to the right questions is critical if you want to lay the groundwork for a stable business and attract sufficient attention from investors.

Related: 25 Common Characteristics of Successful Entrepreneurs

1. What need are you addressing?

This is an important question because it extends beyond the simple "What does your business do?" It's one thing to outline your business in general, describing what products you make or what services you offer, but if you want a solid business plan you have to take it to the next level.

It's nice to imagine your business as providing something useful, and if you're excited about the idea, it's that much easier to think about people buying it. But you need to be logical and critical when you consider the driving force behind your customers' purchasing decisions: what fundamental customer need is your business addressing? You'll want to back this up with research that shows the need actually exists.

2. What makes you different?

It's a big world out there, and startups are constantly coming on and off the radar. Chances are, there are multiple businesses out there who are already serving the crucial need you outlined from question one. That doesn't mean you can't serve it better, or serve it in a different way, but therein lies the challenge—figuring out what makes you different.

First, you'll need to acknowledge all the major players in your space, and this is going to require some research. Acknowledge what they're doing right, what they're doing wrong, and how they're going about their business. Identify the differentiating factor that will allow you to stand out, and emphasize it.

Related: Struggling to Define Your Business Goals? Ask Yourself These Questions.

3. Who is your audience?

Here's a hint: the answer can't be "everybody." No matter how useful or practical your product or service is, there's no way you're going to be able to sell to everyone in the world. Think about factors like age, sex, education, geographic location, working status, marital status, and perform some preliminary market research to determine the best path forward.

Your key demographic may evolve over time, so don't stay too committed to one niche. Also remember, that it's easy to expand to other markets once you've established yourself in one, so if you have multiple key demographics, it may be wise to focus on one to start things off.

4. How is your business going to make money?

This seems like an obvious question to answer, but you'd be surprised how many entrepreneurs fail to elaborate on their plan. The brief answer to this question is "sell products/services," but how are you going to sell? Where are you going to sell? How much are you going to sell for?

The other side of the question is what are your operating expenses? Who are you going to pay? What services or partners will you need to pay for? And ultimately, will the amount you sell be able to surpass the amount you owe? When will you break even?

5. How will you promote your business?

Promoting your business is just as important as creating it. Otherwise, people will never know who you are. Your marketing strategy should start off based on what similar businesses before you have done. Do they rely on traditional advertising or online marketing? Do they attend tradeshows and local events, or use technology to spread the word about their existence?

Related: The Ultimate Guide to Writing a Business Plan

6. What do you need to get started?

For many potential partners and investors, this is the bottom line. All businesses have to start somewhere, but that starting line varies dramatically from industry to industry and from entrepreneur to entrepreneur. Do you need any advanced equipment? Who will you need to hire? How much will you need for an initial run? These questions should give you an idea exactly how much capital and what resources you need initially.

It may seem counterintuitive, but answering these questions isn't a one-time process. Your business plan should be a living, changing document that evolves along with your company. Throughout your course of entrepreneurship, you're going to encounter new challenges, new opportunities, and hundreds of factors you never considered as significant to your business when you were writing the initial plan. To survive, you're going to have to revise your answers to these questions and update your business plan accordingly.

Related: The Essential Ingredients to Startup Success

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Business Plan Questionnaire

Successful business plans clearly explain a company’s business model, objectives, strategies, and competitive advantages. Use our business plan questionnaire below for a list of the questions you should answer in each section of your business plan to ensure clarity and understanding of your business’s hopes and mission.

Download our Ultimate Business Plan Template here

What Questions Should Be Asked in a Business Plan?

The business plan questionnaire can help you with how to write your business plan . It will give you a concrete set of directions for the future and allow you to further examine and learn about the market you are entering. Be sure to provide answers to the following questions in each key section of your business plan.

Executive Summary Questions

You may ask yourself:

What is the issue your business is addressing?
How are you solving it?
What are your business’s strengths?
Why should an investor be interested in your business?

Company Analysis Questions

Ask yourself the following:

What is your business’ mission?
What is your history?
What are some of your past achievements?
What is your business’ legal structure?
Where is your business located?
Why did you start the business?
How do you measure your business success?

Industry Analysis Questions

Include the answers to the following questions:

What is the size of the market?
What are the characteristics of the market: growth trends, units sold, employment?
What factors are influencing growth or decline in the market?
Are there any barriers to entering the market?
Are there any government regulations that affect the market?

Finish Your Business Plan Today!

Customer analysis questions.

Be sure to include the following in your analysis:

What is the size of the target customer market?
Where are these prospective customers located?
What are their desires and needs, and how will your business meet those needs?
In descriptive terms, who is your target market? (what motivates them to purchase, what influences their purchasing decisions)
Why will your target customers seek out your business?
What trends/purchasing shifts could occur in the market?
How will you monitor customer satisfaction? (e.g., surveys, reviews, etc.)

Competitive Analysis Questions

understand their weaknesses to help your company succeed

First, simply focus on your competition and what they are up to.

Address the following:

Who are your direct competitors? (e.g., other businesses in your genre) What percentage of market share do they occupy?
Who are your indirect competitors? (e.g., other companies that may not be specified in your business’s genre, but provide similar results to that of your business)
What are your competitors’ strengths and weaknesses?
What are their products and pricing like?

Then, look into your business’ competitive advantage to describe how your business will be better.

Will you offer more or better features?
Will you ensure better results for your users?
Will you offer better pricing?
Will your customer service be more efficient?
Will you offer a better overall customer experience?

Marketing Plan Questions

advertising strategy for your organization

A complete plan will include the following marketing plan sections:

How will you communicate to your target customers about your product or service?
Why are you choosing these specific avenues (e.g., website, Social Media, etc.)?
What materials do you have or need, and what will be the cost of this?
What do you plan to spend on marketing per prospect and per client?
How will you retain existing customers?
How will your business attract publicity?
What media will you target?
How will your product or service be delivered to the market?
How might future changes impact your marketing?
How will you price your product relative to others in the market to be competitive yet profitable?
What type of payment will you accept?
Overall, how will your marketing strategy be effective to your target customers?

Operations Plan Questions

operations process for your organization

Consider the following:

What equipment is needed, and what is the cost?
What are your hours of operation and number of shifts?
How many employees will you have?
What are the skill sets required when looking to hire new employees?
What are your practices for scheduling, managing, and hiring personnel?
What are the processes you will use to produce and sell your product or service?
What is your purchasing process?
How will finished goods be distributed?
How will quality be measured and improved over time?
What will your procedures to keep track of inventory look like?

Management Team Questions

keep things simple until you have more clients

In this section, answer the following:

Who are your founding members and what is their background?
Who are your support team members and what are their responsibilities? (include position title, person’s name, and role)
Do you offer any ownership options to attract key management?
Do you have any Board of Directors?
Do you have any outside consultants that will work with your business as it grows?
What is your business’ organizational structure?

Financial Plan Questions

Your financial plan should include:

Profit & Loss statement
Cash flow statement
Balance sheet
Sales volume forecast
Personnel plan
Break-even analysis

Here, you must gather data and convey just how much money your business will need and how much income you will earn, as well as when your business will be profitable.

Be sure to consider the following:

How were your numbers calculated?
Why are the salaries and office expenses you have calculated reasonable to your business?
Why are your expense estimates realistic?
How have you budgeted for unexpected costs?
Is there any debt the business currently has?
What is the amount of equity the owners and stockholders have?
What is your annual interest expense?
What is the percentage of sales issued for returns?
What is your average daily inventory value?
Are you using a fixed or variable inventory method?
What is the limit on your line of credit and the average interest rate?
What is your minimum checking account balance to have at all times?

Your financial plan should prove that you are informed and knowledgeable on the numbers around your business. It should prove that you are aware of all potential unexpected costs or other out-of-the-blue setbacks.

Appendix Questions

Appendices may be anywhere from just a few pages to a hundred or more.

Your appendix can include:

Resumes of key management, blurbs on other management members
Job descriptions/titles
Copies of any agreements having bearing on the business plan
Copies of licenses
Personal and business tax returns (if applying for a loan)
Marketing materials
Photos or sketches of the building, property, equipment, products
Industry studies or other information supporting industry trends
Summaries of secondary market studies

Business Plan Questionnaire Conclusion

The above sample survey questionnaire for a business plan should be a guide for you to use as an outline and checklist of items that will need to be addressed in your company’s business plan. Growthink’s fill in the blank business plan includes each of these key elements and more to help your business succeed.

How to Finish Your Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

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17. Multiple Choice Edit 30 seconds 1 pt What are the 7 essential parts to creating a business plan? 1.Executive Summary 2.Company Description 3.Product/Services 4.Market Analysis 5.Strategy 6.Organizational/ management team 7.Finicial Plan none of the above all of the above

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Business planning - AQA Test questions

A business plan is an essential part of starting any business. Entrepreneurs create business plans to help them consider all of the elements they are going to need for their new business to be a success.

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Tennessee Volkswagen Workers to Vote on Union Membership in Test of UAW's Plan to Expand Its Ranks

The United Auto Workers’ ambitious drive to expand its reach to nonunion factories across the South and elsewhere faces a key test Friday night, when workers at a Volkswagen plant in Chattanooga, Tennessee, will finish voting on whether to join the union

Tennessee Volkswagen Workers to Vote on Union Membership in Test of UAW's Plan to Expand Its Ranks

Olivia Ross

FILE - A "We stand with the UAW" sign appears outside of the Volkswagen plant in Chattanooga, Tenn., on Dec. 18, 2023. Workers at at the Tennessee factory are scheduled to finish voting Friday, April 19, 2024, on whether they want to be represented by the United Auto Workers union. (Olivia Ross/Chattanooga Times Free Press via AP, File)

DETROIT (AP) — The United Auto Workers’ ambitious drive to expand its reach to nonunion factories across the South and elsewhere faces a key test Friday night, when workers at a Volkswagen plant in Chattanooga, Tennessee , will finish voting on whether to join the union.

The UAW’s ranks in the auto industry have dwindled over the years as foreign-based companies with nonunion U.S. plants have sold increasingly more vehicles.

Twice in recent years, workers at the Chattanooga plant have rejected union membership. Most recently, they handed the UAW a narrow defeat in 2019 just as federal prosecutors were breaking up a bribery-and-embezzlement scandal at the union.

But this time, the UAW is operating under new leadership, directly elected by its members for the first time and basking in a successful confrontation with Detroit's major automakers. The union's pugnacious new president, Shawn Fain , was elected on a platform of cleaning up after the scandal and turning more confrontational with automakers. An emboldened Fain, backed by President Joe Biden, led the union in a series of strikes last fall against Detroit’s automakers that resulted in lucrative new contracts .

The new contracts raised union wages by a substantial one-third, arming Fain and his organizers with enticing new offers to present to workers at Volkswagen and other companies.

“I’m very confident,” said Isaac Meadows, an assembly line worker in Chattanooga who helped lead the union organizing drive at the 3.8 million-square-foot (353,353-square-meter) plant, which manufactures Atlas SUVs and the ID.4 electric vehicles. “The excitement is really high right now. We’ve put a lot of work into it, a lot of face-to-face conversations with co-workers from our volunteer committee.”

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The UAW's supporters have faced resistance from the company as well as from some Republican leaders. In a presentation this week apparently aimed at dissuading the plant's 4,300 production workers from voting for the union, Volkswagen listed examples of how it pays and treats them well. And six Southern governors, including Tennessee's Bill Lee, warned the workers in a joint statement last week that joining the UAW could cost them their jobs and threaten the region's economic progress.

Marick Masters, a business professor at Wayne State University in Detroit who studies the UAW, said there is a good chance that this election could bring the union a historic victory. Public opinion, Masters said, is now generally more aligned with unions than it was in the past.

To approve membership, though, the workers in Chattanooga will have to look past the warnings that joining the union, with the accompanying higher wages, would lead to job losses. Since the UAW's new contracts were signed in the fall with General Motors, Ford and Stellantis, all three companies have cut a relatively small number of factory positions. But Ford CEO Jim Farley has said that his company will have to rethink where it builds future vehicles because of the strike.

“While the UAW's reputation has improved as a result of new leadership and contracts, it's still associated with a decline in the auto industry,” Masters said.

Shortly after the Detroit contracts were ratified, Volkswagen and other nonunion companies handed their workers big pay raises. Fain characterized those wage increases as the “UAW bump" and asserted that they were intended to keep the union out of the plants.

Last fall, Volkswagen raised production worker pay by 11%, lifting top base wages to $32.40 per hour, or just over $67,000 per year. The average production worker makes about $60,000 a year, excluding benefits and an attendance bonus. VW said its pay exceeds the median household income for the Chattanooga area, which was $54,480 last May, according to the U.S. Labor Department.

But under the UAW contracts, top production workers at GM, for instance, now earn $36 an hour, or about $75,000 a year excluding benefits and profit sharing, which ranged from $10,400 at Ford to $13,860 at Stellantis this year. By the end of the contract in 2028, top-scale GM workers would make over $89,000.

Zach Costello, a worker who trains new employees at the Volkswagen plant, said pay shouldn't be benchmarked against typical wages in the Chattanooga area.

“How about we decide what we're worth, and we get paid what we're worth?” he asked.

VW asserts that its factories are safer than the industry average, based on data reported to the Occupational Safety and Health Administration. And the company contends that it considers workers’ preferences in scheduling. It noted that it recently agreed to change the day that third-shift workers start their week so that they have Fridays and Saturdays off.

But Meadows, whose job involves preparing vehicles for the assembly line after the auto bodies are painted, said the company adds overtime or sends workers home early whenever it wants.

“People are just kind of fed up with it,” he said.

VW, he argued, doesn't report all injuries to the government, instead often blaming pre-existing conditions that a worker might have. The union has filed complaints of unfair labor practices, including allegations that the company barred workers from discussing unions during work time and restricted the distribution of union materials.

Volkswagen disputed the union's allegations and said it properly reports injuries and supports the workers' right to vote on union representation.

If the union prevails in the vote at the VW plant, it would mark the first time that the UAW has represented workers at a foreign-owned automaking plant in the South. It would not, however, be the first union auto assembly plant in the South. The UAW represents workers at two Ford assembly plants in Kentucky and two GM factories in Tennessee and Texas , as well as some heavy-truck manufacturing plants.

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Tags: Associated Press , business , labor , Michigan , Tennessee

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Tennessee Volkswagen workers to vote on union membership

DETROIT -- The United Auto Workers’ ambitious drive to expand its reach to nonunion factories across the South and elsewhere faces a key test Friday night, when workers at a Volkswagen plant in Chattanooga, Tennessee, will finish voting on whether to join the union.

The UAW’s ranks in the auto industry have dwindled over the years as foreign-based companies with nonunion U.S. plants have sold increasingly more vehicles.

But this time, the UAW is operating under new leadership, directly elected by its members for the first time and basking in a successful confrontation with Detroit's major automakers. The union's pugnacious new president, Shawn Fain, was elected on a platform of cleaning up after the scandal and turning more confrontational with automakers. An emboldened Fain, backed by President Joe Biden , led the union in a series of strikes last fall against Detroit’s automakers that resulted in lucrative new contracts.

The new contracts raised union wages by a substantial one-third, arming Fain and his organizers with enticing new offers to present to workers at Volkswagen and other companies.

“While the UAW's reputation has improved as a result of new leadership and contracts, it's still associated with a decline in the auto industry,” Masters said.

Zach Costello, a worker who trains new employees at the Volkswagen plant, said pay shouldn't be benchmarked against typical wages in the Chattanooga area.

“How about we decide what we're worth, and we get paid what we're worth?” he asked.

But Meadows, whose job involves preparing vehicles for the assembly line after the auto bodies are painted, said the company adds overtime or sends workers home early whenever it wants.

“People are just kind of fed up with it,” he said.

Volkswagen disputed the union's allegations and said it properly reports injuries and supports the workers' right to vote on union representation.

If the union prevails in the vote at the VW plant, it would mark the first time that the UAW has represented workers at a foreign-owned automaking plant in the South. It would not, however, be the first union auto assembly plant in the South. The UAW represents workers at two Ford assembly plants in Kentucky and two GM factories in Tennessee and Texas, as well as some heavy-truck manufacturing plants.

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Tennessee Volkswagen workers to vote on union membership in test of UAW’s plan to expand its ranks

FILE - A “We stand with the UAW” sign appears outside of the Volkswagen plant in Chattanooga, Tenn., on Dec. 18, 2023. Workers at at the Tennessee factory are scheduled to finish voting Friday, April 19, 2024, on whether they want to be represented by the United Auto Workers union. (Olivia Ross/Chattanooga Times Free Press via AP, File)

FILE - UAW President Shawn Fain speaks to the media after visiting the Volkswagen plant in Chattanooga, Tenn., on Monday, Dec. 18, 2023. Workers at at the Tennessee plant are scheduled to finish voting Friday, April 19, 2024, on whether they want to be represented by the United Auto Workers union. (Olivia Ross/Chattanooga Times Free Press via AP, File)

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The UAW’s ranks in the auto industry have dwindled over the years as foreign-based companies with nonunion U.S. plants have sold increasingly more vehicles.

But this time, the UAW is operating under new leadership, directly elected by its members for the first time and basking in a successful confrontation with Detroit’s major automakers. The union’s pugnacious new president, Shawn Fain , was elected on a platform of cleaning up after the scandal and turning more confrontational with automakers. An emboldened Fain, backed by President Joe Biden, led the union in a series of strikes last fall against Detroit’s automakers that resulted in lucrative new contracts .

The new contracts raised union wages by a substantial one-third, arming Fain and his organizers with enticing new offers to present to workers at Volkswagen and other companies.

Actors Angela Nichols, far left, and Courtney Griffith, center, and workers who help bring Disneyland's beloved characters to life as they announce they've collected enough signatures to support their push for a union during a news conference in Anaheim, Calif., Wednesday, April 17, 2024. Workers who help bring Disneyland's beloved characters to life said Wednesday they collected enough signatures to support their push for a union. (AP Photo/Damian Dovarganes)

The UAW’s supporters have faced resistance from the company as well as from some Republican leaders. In a presentation this week apparently aimed at dissuading the plant’s 4,300 production workers from voting for the union, Volkswagen listed examples of how it pays and treats them well. And six Southern governors, including Tennessee’s Bill Lee, warned the workers in a joint statement last week that joining the UAW could cost them their jobs and threaten the region’s economic progress.

To approve membership, though, the workers in Chattanooga will have to look past the warnings that joining the union, with the accompanying higher wages, would lead to job losses. Since the UAW’s new contracts were signed in the fall with General Motors, Ford and Stellantis, all three companies have cut a relatively small number of factory positions. But Ford CEO Jim Farley has said that his company will have to rethink where it builds future vehicles because of the strike.

“While the UAW’s reputation has improved as a result of new leadership and contracts, it’s still associated with a decline in the auto industry,” Masters said.

Shortly after the Detroit contracts were ratified, Volkswagen and other nonunion companies handed their workers big pay raises. Fain characterized those wage increases as the “UAW bump” and asserted that they were intended to keep the union out of the plants.

Zach Costello, a worker who trains new employees at the Volkswagen plant, said pay shouldn’t be benchmarked against typical wages in the Chattanooga area.

“How about we decide what we’re worth, and we get paid what we’re worth?” he asked.

But Meadows, whose job involves preparing vehicles for the assembly line after the auto bodies are painted, said the company adds overtime or sends workers home early whenever it wants.

“People are just kind of fed up with it,” he said.

VW, he argued, doesn’t report all injuries to the government, instead often blaming pre-existing conditions that a worker might have. The union has filed complaints of unfair labor practices, including allegations that the company barred workers from discussing unions during work time and restricted the distribution of union materials.

Volkswagen disputed the union’s allegations and said it properly reports injuries and supports the workers’ right to vote on union representation.

If the union prevails in the vote at the VW plant, it would mark the first time that the UAW has represented workers at a foreign-owned automaking plant in the South. It would not, however, be the first union auto assembly plant in the South. The UAW represents workers at two Ford assembly plants in Kentucky and two GM factories in Tennessee and Texas, as well as some heavy-truck manufacturing plants.

Tennessee Volkswagen workers to vote on union membership in test of UAW's plan to expand its ranks

DETROIT — The United Auto Workers’ ambitious drive to expand its reach to nonunion factories across the South and elsewhere faces a key test Friday night, when workers at a Volkswagen plant in Chattanooga, Tennessee, will finish voting on whether to join the union.

The UAW’s ranks in the auto industry have dwindled over the years as foreign-based companies with nonunion U.S. plants have sold increasingly more vehicles.

But this time, the UAW is operating under new leadership, directly elected by its members for the first time and basking in a successful confrontation with Detroit’s major automakers. The union’s pugnacious new president, Shawn Fain , was elected on a platform of cleaning up after the scandal and turning more confrontational with automakers. An emboldened Fain, backed by President Joe Biden , led the union in a series of strikes last fall against Detroit’s automakers that resulted in lucrative new contracts .

The new contracts raised union wages by a substantial one-third, arming Fain and his organizers with enticing new offers to present to workers at Volkswagen and other companies.

To approve membership, though, the workers in Chattanooga will have to look past the warnings that joining the union, with the accompanying higher wages, would lead to job losses. Since the UAW’s new contracts were signed in the fall with General Motors, Ford and Stellantis, all three companies have cut a relatively small number of factory positions. But Ford CEO Jim Farley has said that his company will have to rethink where it builds future vehicles because of the strike.

“While the UAW’s reputation has improved as a result of new leadership and contracts, it’s still associated with a decline in the auto industry,” Masters said.

Shortly after the Detroit contracts were ratified, Volkswagen and other nonunion companies handed their workers big pay raises. Fain characterized those wage increases as the “UAW bump” and asserted that they were intended to keep the union out of the plants.

Zach Costello, a worker who trains new employees at the Volkswagen plant, said pay shouldn’t be benchmarked against typical wages in the Chattanooga area.

“How about we decide what we’re worth, and we get paid what we’re worth?” he asked.

But Meadows, whose job involves preparing vehicles for the assembly line after the auto bodies are painted, said the company adds overtime or sends workers home early whenever it wants.

“People are just kind of fed up with it,” he said.

Volkswagen disputed the union’s allegations and said it properly reports injuries and supports the workers’ right to vote on union representation.

If the union prevails in the vote at the VW plant, it would mark the first time that the UAW has represented workers at a foreign-owned automaking plant in the South. It would not, however, be the first union auto assembly plant in the South. The UAW represents workers at two Ford assembly plants in Kentucky and two GM factories in Tennessee and Texas, as well as some heavy-truck manufacturing plants.

House Republicans have a wacky new plan to finally pass Ukraine aid — and force a sale of TikTok

For months, Israel and Ukraine aid have stalled in the House. That's about to change.
Speaker Johnson is planning separate votes on the aid in order to ease GOP opposition.
He's also including a bill that gives TikTok's Chinese owners one year to sell off the app.

For months, the House has been sitting on a bill that would provide aid to Ukraine, Israel, Taiwan, and humanitarian funding for Gaza.

That's about to change on Saturday.

House Speaker Mike Johnson — working with House Democrats — is holding separate votes on aid to Israel, Ukraine, and Taiwan, along with a bill that would force TikTok's Chinese owners to sell the app within the year.

It's a modified version of a $95.3 billion aid package that passed the Senate by a strong bipartisan margin in February. In an effort to deal with increasingly complicated politics on both Ukraine and Israel aid, he's holding separate votes on each component, then bundling it up and sending it to the Senate.

All of this is happening as Johnson contends with Rep. Marjorie Taylor Greene's threat to call a vote on his ouster if he allows more Ukraine aid to pass.

Here's what's in the four bills

The contents of the four bills largely mirror the contents of the Senate-passed bill, just broken into parts. Each will receive an individual vote.

Israel aid: $26.38 billion total, including $14.1 billion in military aid to Israel, $2.4 billion for US military operations in the Middle East, and $9.2 billion in humanitarian aid for Gaza. Funding to the United Nations Relief and Works Agency (UNRWA) remains prohibited following a report that some employees participated in the October 7 Hamas attack, a move likely to anger progressives.

Ukraine aid: $60.84 billion total, $23.2 billion of which will go toward replenishing US weapons stockpiles. It also allows the aid to Ukraine to be structured as a loan.

Taiwan aid and Indo-Pacific military funding: $8.12 billion total, including $3.3 billion for US submarine infrastructure, $2 billion in military aid for Taiwan, and $1.9 billion to replenish US weapons already given to Taiwan and other countries.

TikTok bill and other provisions: A package that includes a recently passed bill to force the sale of the popular app TikTok, a bill to confiscate Russian assets , and more. In contrast to a version of the TikTok bill that passed the House last month, this one would extend the amount of time for the sale to roughly a year, easing some senators' concerns.

Many Republicans oppose Ukraine aid, while Democrats are increasingly skeptical of Israel aid

Johnson's plan is aimed at addressing two separate pockets of opposition to the foreign aid package.

After October 7, the Biden administration and Senate leaders insisted on tying Israel and Ukraine aid together, with the idea being that including Israel aid would incentivize Republicans to swallow more Ukraine aid.

Republicans, hoping to avoid that, have made numerous attempts at passing Israel aid on its own , but they've either failed or been stalled in the Democratic-controlled Senate.

Democrats unanimously support Ukraine aid, and there are plenty of Republicans — including Johnson, a former Ukraine skeptic — who feel the same, meaning a majority of the House would vote to approve it.

Nancy Pelosi pulled off a version of this back in 2007

There's some precedent for what Johnson's trying to do here.

After retaking the House in 2007, Democrats faced pressure to continue funding the War in Iraq — but most House Democrats were opposed to that.

To solve the issue, then-House Speaker Nancy Pelosi tied the funding to an increase to the federal minimum wage, while keeping the votes separate.

Thus, Democrats got a win — increasing the minimum wage by $2.10 — while Iraq war funding passed the House and made it to then-President George W. Bush's desk.

The hard-right is still furious, and Johnson could face a vote to oust him

Many hard-right Republicans remain opposed to this plan, and on Tuesday, Greene won a new ally: Rep. Thomas Massie of Kentucky, who is co-sponsoring the Georgia congresswoman's "motion to vacate" and is now calling on Johnson to resign.

I just told Mike Johnson in conference that I’m cosponsoring the Motion to Vacate that was introduced by @RepMTG . He should pre-announce his resignation (as Boehner did), so we can pick a new Speaker without ever being without a GOP Speaker. — Thomas Massie (@RepThomasMassie) April 16, 2024

Of course, both Greene and Massie are outliers among House Republicans — they were the only two lawmakers to vote against every single Russia-related bill following the start of the Ukraine war in 2022 — but Johnson has little room for error given Republicans' dwindling vote margin.

Several Democrats have said they would oppose an effort to oust Johnson, a break from their unanimous support for Kevin McCarthy's ouster in October.

But all of this depends on what happens on Saturday, and if the aid is actually passed.

"In the absence of an organized, logical demonstration of leadership, I'm not making any promises," said Democratic Rep. Abigail Spanberger of Virginia, who previously indicated a willingness to save Johnson in exchange for more Ukraine aid.

It's all likely to pass both chambers and be signed into law

While Democrats and some Republicans have generally expressed some skepticism about the plan, they're willing to do whatever it takes to get the foreign aid package approved.

Ultimately, there are majorities in the House and Senate for each component of this bill — it's just that the coalitions behind them are different.

The Senate is likely to take up votes on the combined package sometime next week, and President Joe Biden has said he will sign it into law.

That means Ukraine is going to get the help it needs to continue fighting, Israel will get the military aid that some progressives have called for Biden to halt, and TikTok will have roughly a year to be sold off — or it will be banned in the United States.

Watch: Highlights from Biden's fiery State of the Union address

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StarTribune

Cargill to sell group of grain elevators to chs inc..

In a move that will enable the company to reinvest in its U.S. grain business, Minnetonka-based Cargill is selling a group of elevators in five states to Inver Grove Heights-based CHS Inc.

Cargill made the decision during a regular portfolio review, which the privately held company routinely does "to ensure assets best fit our strategy to meet long term market demands," the agricultural giant said in a statement to the Star Tribune.

Grain elevators in the southwest and western regions of Minnesota are among a group of eight being sold. Other elevators are located in Illinois, Nebraska, Colorado and South Dakota.

Terms of the deal were not disclosed. It's expected to close in June.

Cargill said the decision to sell the elevators was not related to the company's 2023 acquisition of Owensboro Grain Co., a family-owned soybean processing facility and refinery located in Owensboro, Ky., which it previously stated would enhance its goal of increasing its oilseeds network across North America.

"We are committed to the grain business in the U.S. and will now be able to devote appropriate resources to, and reinvest in, our remaining assets to ensure we are able to best serve our customers through a seamless end-to-end system," the statement read.

Cargill called CHS "the right partner for this sale" based on the organizations' existing partnership.

CHS said the purchase will boost its enterprise supply chain and connect its farmer-owners "to the global marketplace."

"The locations and facilities that are part of this expansion were strategically selected to allow us to continue enhancing our grain facility network in select geographies," said Rick Dusek, executive vice president of ag retail, distribution and transportation at CHS. "By adding assets to our CHS ag retail network in these areas, we are able to move our owners' grain more efficiently into the global supply chain through our terminals, particularly in the U.S. southern plains."

CHS, the nation's top-grossing cooperative, recorded revenue of $45.6 billion for its fiscal 2023, down 5% from 2022.

Cargill recorded $177 billion in revenue for its fiscal 2023, a 7% increase from fiscal 2022, according to the company's annual report.

Nick Williams is a business reporter for the Star Tribune.

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135 Business Plan Questions

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Company Description Considerations

Market Analysis

Organization and Management Structure

Service or Product Line Inquiry

Marketing and Sales Strategies

Funding Request Fundamentals

Financial Projections and Feasibility

Appendix and Supporting Documents

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