Before You Submit:
- You should have attended all (4) four sessions of our StartUP! Training. If you missed any classes, you can still view online webinar recording in order to qualify.
- Submit your business plan via our YouNoodle Platform on our website. If you already registered via YouNoodle, please sign back in and edit your entry to upload your business plan.
- You should upload (3) three files for submission: (1) Your NYS ID/Driver's License proving that you are a Queens resident, (2) a narrative version of your business plan, and (3) an Excel document with your financial projections. You also are allowed to submit an appendix for additional reference material.
- Accepted files are: *.JPG, *.PDF, *.DOC, *.XLS, or *.PPT.
Please remember to make sure you are in the right award track when you submit your entry. Award-track options are food-based business, community-based business, or innovative-business tracks. For more information please view our eligibility rules and requirements.
Business Plan Submission Requirements
Your business plan must meet the following requirements in order to have it reviewed by a judge:
- A title/cover page with the names of partners, team leaders, and their contact information.
- The business plan length, excluding financial statements, should not exceed 20 pages. All pages should be numbered. Page number count starts with the Executive Summary.
- Font should be Times New Roman, at 12 Pt. font size, 1 - 1 1/2 spaced, with 1 inch margins all around.
You must submit a complete business plan with the following sections:
- Cover Page
- Table of Contents
- Executive Summary
- Company Description
- Industry Analysis
- Target Market
- Competitive and Strategic Position
- Sales and Marketing Plan
- Operations Plan
- Management Team
- Grow/Exit Strategy
- Financial Statements (see below for what this includes)
- Appendix (optional; 5 pages maximum)
The financial statements are required to have your business forwarded to our judges. Incomplete plans will not be forwarded to judges. Here is a list of what is necessary:
- A Cash Flow Projection(Required).This can be added to actual sales records if you have already begun to conduct business activity.Projections for Year 2 and Year 3 are also required but it will be your first 12-month business cycle projection that will be looked at more closely.
- A Income Statement for the first 12 months of business.(Required).Projections for Year 2 and Year 3 are also required but it will be your first 12-month business cycle projection that will be looked at more closely.
- A Balance Sheet should show: 1st Day of Business Operations, Last Day of Year 1, Last Day of Year 2, and Last Day of Year 3.(Required).
- Financial Assumptions- This can be written as an attached narrative to explain what is going on in your financial statements.Revenue Assumptions will explain percentage increase of sales over time, spikes due to seasonality, marketing campaigns, new streams of revenue, or product development. Expense Assumptions will explain increases or decreases in your Cost of Goods Sold (COGS), or operating expenses based on the plan.(Required).
- Sources and Uses of Funds- Shows how you plan to pay for your start-up cost, what you will use the money for, and how you plan to reach profitability. For example, money set aside for cash flow until the business breaks even can be a line item to include.(Required).
Tools To Develop Your Business Plan
The following are examples of financial statement templates that you can use. Feel free to use your own worksheets, as long as they include the requirements stated above.
The links below are tools to organize your business plan, size up your competition, and price your product.
Business Plan Guideline - this document breaks down information you want to include in your business plan and provides the sub-headers that are necessary to organize the plan accordingly.
Competitive Matrix Chart - use this chart to compare your business with competitors, and view where your competitive position lies.
Pricing - this document is meant to help you price your product.
- March 1st - Submission deadline for business plans. See eligibility rules for the judging criteria.
- March 20th - Register for our StartUP! All-Star Networking Event (Details TBA).
- April 24th - Finalists will do a presentation on their business to a panel of judges.
- April 29th - Winners are announced at our 2014 Taste of Queens event at CitiField
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