GoFarm Hawaii

GoFarm Hawaii

GoFarm Hawaii AgBusiness Assignments

The Business Plan Assignments are designed to help students get prepared to run a business in Hawaii. During your course, you will be required to do the following: 

Business Plan Assignment (Questionnaire, Field Map, Production Plan, and Cash Flow Projection) 

Use this assignment to document your business goals, a detailed plan to get there, and a path to financial feasibility after graduation. If you apply to AgIncubator, similar information will be required in your application. The assignment includes:

  1. GoFarm Hawaiʻi Business Plan Questionnaire. Includes the following:
    • Responses to all questions  
    • Attachment A: Business Plan and Goal Sheet for 12 Months 
    • Attachment A: Business Plan and Goal Sheet for 3 Years 
    • Attachment B: Crop Demand Analysis 
    • If you plan to do a CSA, Attachment C: CSA Competition Analysis 
    • Attach your logo or logo draft
    • Attach 3-5 photos of your farm/plot (including a photo of yourself/the farmer on the farm).  A headshot or selfie will work.

  2. Simple Field Map. Include the following:
    • A sketch of your anticipated farm including field and crop areas (for example, number of beds and spacing) 
    • If not on AgIncubator, location of infrastructure or non-farmable areas

  3. Production Plan for at least the first 6 months of planting.  The plan should include:
    • Crop type 
    • Nursery and field planting dates 
    • Bed feet planted 
    • Sales unit 
    • Expected harvest month and yield 
    • When applicable, indicate when successions are planted 

  4. Monthly Cash Flow Statement for 1 year or until you start to make money. The statement should include:
    • Recap of estimated monthly harvest yields based on your crop/production plan 
    • Prices based on your research that is documented in Attachment B: Crop Demand Analysis 
    • Include estimated monthly revenues 
    • Include estimated monthly direct costs, indirect costs, AND startup costs 
    • Include your expected monthly net income 
    • Include monthly cash flow estimates 
    • Estimated beginning (start-up) cash needed
    • Also include estimated monthly labor hours

Feel free to use the templates or examples used in class (see links to the templates below), a spreadsheet you create, or another method that you are comfortable with. USE A METHOD THAT MAKES SENSE TO YOU! (i.e. Excel vs. Paper) Ask for help when you need it!

AgBusiness Assignment Review

We’ll have an overview of the requirements for Business Plan Presentation as well as your AgBusiness Assignment. As we go over these, some questions you should be considering:

  1. Do you understand the assignments that need to be turned in? How’s that going?
  2. Do you need to schedule another meeting with us to go over areas you need more help on?
  3. Are you planning to apply for AgIncubator (if applicable at your site)? 

We will then be able to assess and direct towards any next steps, provide clarity or support and answer questions.

Business Plan Presentation

As you start a business, being able to share and present about your business and answer questions concisely and effectively is important. You will be asked to prepare a presentation about your business/business idea (max 5 minutes; please practice and ensure you fall within this time guideline). The audience will have up to 5 minutes to provide comments and ask questions. You are not required to prepare a slide presentation but if you wish to include one send to Erik at erikms@hawaii.edu so he can bring it up during your presentation time slot.  Include the following:

  • Introduce yourself and your business
  • Briefly describe your business and business model. Include the following:
    • Describe what you are planning to achieve by starting your business (for example, increasing the island’s food security, developing a successful value-added product, educating and inspiring others, providing food for your community, etc.)
    • Provide an overview of what you plan to do (for example, start on a 1/8 acre parcel in AgIncubator, look for long term land opportunities on the island)
    • Describe what you plan to sell (for example, specific crops, CSAs, value-added products)
    • Describe who you plan to sell to (for example, direct to consumers at farmers’ markets, restaurants, wholesale)
    • Share about what will differentiate your business/make your business stand out from others/or be your keys to success
    • No need to provide financial information but be prepared to address questions (some may ask about your financial feasibility)
  • Ask the audience for something (for example, you can ask for validation or feedback about your business idea, ask for suggestions about land opportunities, ask for help to identify market or funding opportunities)

The audience may include other GoFarm Hawaii coaches, AgBusiness team members, local farmers, agriculture industry resources, and funding resources.  

Additional Research and Resource Materials

GoFarm Supply Sourcing and Price List Guide
Crop Life Cycle Examples
GoFarm Hawaii AgBusiness Workbook