How to Write a Feasbility Summary

WORKSHOP – PURPOSE:
All those interested in entering the 2012 Kaua`i Coffee Agricultural Business Plan Competition must submit a Feasibility Summary on their business idea on Tuesday, 02/07/2012, by 4:00 pm (HST).To help prepare you to write the best Feasibility Summary that demonstrates the viability of your business idea, James Hollyer M.S. from the University of Hawai`i at Mānoa College of Tropical Agriculture and Human Resources (CTAHR) will present a “How to Write a Feasibility Summary” workshop on January 24th and 25th.  He’ll present the nuts and bolts of what makes a great Feasibility Summary (in terms of quality content as well as logistics (length, font size, margins, etc.), guidelines on what the Competition’s Distinguished Panel of Judges will be judging on, and very useful tips on making an effective presentation on your business idea.
LOCATION:
Kaua`i Community College
Office of Continuing Education & Training, Room 106C&D
(Same building as the campus bookstore)

(Intersection of Kaumuali`i Highway & Puhi Road in Līhu’e

 
DATE:  (Same workshop offered TWICE)
TUESDAY
, 01/24/2012, 5:30-8:00pm
WEDNESDAY, 01/25/2012, 5:30-8:00pm
 
 
WHO SHOULD ATTEND:
Those eligible to enter the Competition are:
  • All existing farming, value-added food production, or ag-based renewable energy businesses that want to take their business to the next level
  • All those who’d like to start a new business in the farming, value-added food production, or ag-based renewable energy fields
 
HOW THE COMPETITION WORKS:
The Competition comprises three Phases:
·           Phase I – Official Entry: Officially entering the Competition by submitting a Feasibility Summary on the business idea
·         Phase II – “How to Write a Business Plan” course: Entries (or “businesses”) selected by the Competition’s Distinguished Panel of Judges to advance to Phase II will then take an 8-week How to Write a Business Plan course (once a week in the evening) in March through April 2012.  This course prepares businesses to write a well-created business plan while also preparing them for the final phase of the Competition.
·         Phase III – Finals Competition:  At the end of the course, each business will submit a complete business plan to be reviewed by the Distinguished Panel of Judges.  Those businesses selected by the Panel to advance to the next round will enter Phase III, which is the Finals Competition.
PRIZES:
First, second and third place winners will receive $20K, $10K, and $5K, respectively.  However, although prize money will be awarded, the value of participating is not only found in this seed funding, but in the process that brings together an unprecedented body of resouces that would ordinarily be hard to access.
The Kaua`i Coffee Agricultural Business Plan Competition will offer agri-preneurs a very unique venue to act upon their entrepreneurial agriculture ideas within a supportive and highly rewarding environment.

DOWNLOADS:
(If you have any trouble downloading or opening these files, please contact Susan Tai Kaneko at KEDB at 808-245-6692 or stai@kedb.com.  Mahalo!)
(4) Two Year Cash Flow Budget Worksheet (MS Excel 1997-2003)
   [PLEASE NOTE: When you open the file, if a message to disable the macros pops us, please do NOT disable them because that will disable many of the formulas that are built in to the spreadsheet.)
OTHER RESOURCES:
– Download sample business plans from Palo Alto Software at http://www.bplans.com/.
– Utilize the reseach resources provided by the Hawai`i Business Research Library at www.hbrl-sbdc.org.
QUESTIONS ASKED ABOUT THE FEASIBILITY SUMMARIES (Questions & Answers will be added to this webpage as they come in):

Question #1:

* Question:  If I do not have an currently existing business, should I submit my entry as an unregistered business, or do I have to register my business with the state of Hawai`i before entering the Competition?
* Answer:  If you are not a currently existing business, you do not register your business in with the state of Hawai`i merely in order to enter the Competition (i.e., you do not have go out and get your General Excise Tax (GET) number, a federal Employer Identification Number (FEIN), etc.).  But, you must plan to be registered in the state of Hawaii and operate on Kaua`i whenever you’re ready to start/operate your business.  So, your business must be owned and operated on Kaua`i and, depending on the nature of the business, preferably source our locally grown ingredients or other local resources.

Question #2:

* Question:  In the Entry Kit Packet, do I have to answer the questions in the template in the exact order provided on the template?  Or, can I answer all the questions in a prose/paragraph format?

* Answer:  There are 6 “headings” in the “Feasibility Summary Submission” template that’s included in the “Feasibility Summary Entry Packet”. There are also questions under each of the 6 headings.  As long as you address every question under each heading, you can either do so under each question, or in a cohesive paragraph or set of paragraphs under the respective heading.

Question #3:
* Question: If I advance to Phase II, do ALL of my team members have to attend the Orientation and the 8-week Business Plan Course?
* Answer:  No, not all of your team members have to attend the Orientation and the 8-week course.  But, at least one person from the business’ key management has to attend the Orientation and the 8-week course.
Question #4:
* Question: Do all owners in the company have to participate in the Competition and be present for all the presentations?
*Answer: All owners in the company can and are encouraged to participate, but are not obligated to.  In order to participate, they have to be included in the team list (in the Cover Sheet) and in the Agreement Form.  Please keep in mind that, if they’d like to take the 8-week Business Plan Course in March and April or even if they’d like to be part of the finals presentation (in the actual presentation in-person to the Distinguished Judges Panel), they need to be listed as a member of your team.