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Welcome to Part 1 of our series on preparing a professional business plan for your cooperative! Here are the fundamental parts your plan should cover, which we will explore in detail in this video series: 1.Market Analysis & PlanThis section proves you've done your homework. It covers who your target customers are, what need you fulfill, who your competitors are, and how you plan to attract and retain members/customers. 2.Operational & Production Plan How will your co-op run day-to-day? Describe your location, equipment, key processes, and how you will ensure the quality of your products or services. A good operational plan breaks tasks into actionable steps. 3.Financial Plan This is critical for securing funding. Outline your preliminary budget, startup costs, funding sources (loans, member shares, etc.), and financial projections. 4. Risk Management List potential risks (like economic shifts, supply issues, or liability) in order of likelihood. For each, state the potential impact and your plan to prevent or minimize it.