Social Enterprise Business Plan
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We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Social Enterprise businesses.
Below is a template to help you create each section of your Social Enterprise business plan.
Executive Summary
Business Overview
EmpowerU is a startup social enterprise located in Ogden, Utah. The business was founded by Matt and Lauren Goodwin, a couple who have personally placed over three hundred job seekers into viable positions of employment over the past ten years by working in a nationally-known employment agency group. Both Matt and Lauren secured thousands of dollars for their employer, who received a payment for every person successfully placed into employment. With outstanding reviews by employers and a large following of those who have been placed by Matt and Lauren, they’ve determined that they can give back to the city of Ogden by opening their social enterprise, EmpowerU.
EmpowerU will provide a full-service employment placement agenda, from the time they first receive a new applicant to the 6-month period after employment when the employer-employee review is completed. Each step of the interview preparation, interviewing process, and employment negotiation is focused on bringing a new employee into a personally upward bound position that will change their life for the better.
Product Offering
The following are the services that EmpowerU will provide for the potential employers:
- Extensive recruitment of job candidates to fulfill employer requests
- Pre-employment training
- Employment assistance in pay package negotiation
- Reasonable on-hire rates with sliding scale of percentages
- Monthly and yearly reviews and assessments of employee to service employer
The following are the services that EmpowerU will provide for the potential employees:
- Personal training leading to interviews and employment
- Testing to determine skills, abilities, temperament-style
- Resume construction
- Personal deportment training
- Interview techniques for a “win”
- Negotiation techniques for employment
- Personal management in an organization
- Time management skills
- After-hire review and further training, if required
- One-year assessment
Customer Focus
EmpowerU will target both potential employers and candidates as potential employees. To do so, they will target medium-to-large businesses within the Ogden area and residents within the Ogden area. EmpowerU will target human resource managers within the Ogden area. EmpowerU will also target community associations and governmental agencies with job training programs.
Management Team
EmpowerU will be co-owned and operated by Matt and Lauren Goodwin. They have recruited their former administrative assistants, Austin Maven, and Jeanie Parker, to help manage the office and operations of EmpowerU.
Matt Goodwin is a graduate of the University of Utah with a Bachelor’s degree in Business Management. Lauren Goodwin is a graduate of Utah State College, where she earned an Associate’s degree in Social Sciences. Matt and Lauren have been working at an Ogden-based employment recruiter agency for the past ten years. During that time, they observed and practiced the functions of candidate placement into employment positions. They successfully placed over three hundred job-seekers into employment. They now want to help job candidates who need a “hand up” in securing employment by using all their acquired skills to make a change for the good of the city and state.
Austin Maven will become the Office Manager and will oversee all day-to-day office functions. He will manage the accounting and payroll for the social enterprise, as well as the detailed requirements needed to satisfy the social enterprise financials.
Jeanie Parker will become the Operations Manager, assisting in the movement of people resources in and out of the business and overseeing the training and assistance programs.
Success Factors
EmpowerU will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly-qualified team of EmpowerU
- Comprehensive menu of services that benefit both the employers and the job candidates.
- Full support and training for potential employees
- Reviews and assessments of employee during monthly and yearly visits
- As a social enterprise, EmpowerU charges extremely reasonable rates for employee placement, making them the lowest-priced employment service in Ogden.
Download the Social Enterprise business plan template (including a customizable financial model) to your computer here <–
Financial Highlights
EmpowerU is seeking $200,000 in debt financing to launch its social enterprise business. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph outlines the financial projections for EmpowerU.
Company Overview
Who is EmpowerU?
EmpowerU is a newly established, full-service job training and placement agency in Ogden, Utah. EmpowerU will be the most reliable, cost-effective, and effective choice for employers in Ogden and the surrounding communities who seek employees who are eager to establish a better personal life for themselves. EmpowerU will provide a comprehensive menu of job training, placement and review services for any job candidate and business to utilize. Their full-service approach includes a comprehensive array of services that benefit both the job candidate and hiring company.
EmpowerU will be able to provide job candidates for a wide spectrum of potential employers. The team of professionals are highly qualified and experienced in employee placements and training and reviews of those employees. EmpowerU removes all headaches and issues of seeking qualified personnel and ensures all issues are taken care of expeditiously, while delivering the best customer service.
EmpowerU History
EmpowerU is owned and operated by Matt and Lauren Goodwin. Together, they have personally placed over three hundred job seekers into viable positions of employment over the past ten years by working in a nationally-known employment agency group. Both Matt and Lauren secured thousands of dollars for their employer, who received a payment for every person successfully placed into employment. With outstanding reviews by employers and a large following of those who have been placed by Matt and Lauren, they’ve determined that they can give back to the city of Ogden by opening their social enterprise, EmpowerU.
Since incorporation, EmpowerU has achieved the following milestones:
- Registered EmpowerU, LLC to transact business in the state of Utah.
- Have a contract in place for a 10,000 square foot office in a prime downtown building location.
- Have reached out to numerous former associates and people they placed to include EmpowerU any time they search for new employees.
- Began recruiting a staff of three and two office personnel to work at EmpowerU.
EmpowerU Services
The following are the services that EmpowerU will provide for the potential employers:
- Extensive recruitment of job candidates to fulfill employer requests
- Pre-employment training
- Employment assistance in pay package negotiation
- Reasonable on-hire rates with sliding scale of percentages
- Monthly and yearly reviews and assessments of employee to service employer
The following are the services that EmpowerU will provide for the potential employees:
- Personal training leading to interviews and employment
- Testing to determine skills, abilities, temperament-style
- Resume construction
- Personal deportment training
- Interview techniques for a “win”
- Negotiation techniques for employment
- Personal management in an organization
- Time management skills
- After-hire review and further training, if required
- One-year assessment
Industry Analysis
The social enterprise industry is expected to grow over the next five years to over $1 billion.
The growth will be driven by an increased recognition of the need to assist in improving the lives of others within the world.
The growth will be driven by an increased desire to serve the world by using talents and time to build social enterprise businesses.
The growth will be driven by the popularity of including a “social awareness” facet within corporate mission statements.
Costs will likely be reduced as social enterprises seek to reduce profits and increase services.
Costs will likely be reduced as businesses increase voluntary funding for social enterprises.
Download the Social Enterprise business plan template (including a customizable financial model) to your computer here <–
Customer Analysis
Demographic Profile of Target Market
EmpowerU will target both potential employers and candidates as potential employees. To do so, they will target medium-to-large businesses within the Ogden area and residents within the Ogden area. EmpowerU will target human resource managers within the Ogden area. EmpowerU will also target community associations and governmental agencies with job training programs.
The precise demographics for EmpowerU are:
| Total | Percent | |
|---|---|---|
| Total population | 1,680,988 | 100% |
| Male | 838,675 | 49.9% |
| Female | 842,313 | 50.1% |
| 20 to 24 years | 114,872 | 6.8% |
| 25 to 34 years | 273,588 | 16.3% |
| 35 to 44 years | 235,946 | 14.0% |
| 45 to 54 years | 210,256 | 12.5% |
| 55 to 59 years | 105,057 | 6.2% |
| 60 to 64 years | 87,484 | 5.2% |
| 65 to 74 years | 116,878 | 7.0% |
| 75 to 84 years | 52,524 | 3.1% |
Customer Segmentation
EmpowerU will primarily target the following customer profiles:
- Medium-to-large businesses
- Residents of Ogden
- Human resource managers
- Community associations
- Governmental agencies
Competitive Analysis
Direct and Indirect Competitors
EmpowerU will face competition from other companies with similar business profiles. A description of each competitor company is below.
Home Companion Care Services
Home Companion Care Services is a full-service placement agency of caregivers. The primary target market consists of elderly individuals who require in-home care and people with disabilities who need assistance with daily activities. Home Companion Care Services also engages with families seeking compassionate support for their loved ones. While services are not medically related, services may include medication reminders, running errands, purchasing and preparing food, bathing and personal grooming and other essentials for daily living.
Home Companion Care Services was started by Liam Gallagher, who saw a gap in the employment of caregivers when his mother required a caregiver and the availability for one was extremely limited. He also noted that most caregivers were not paid enough to make their lives sustainable. With this in mind, he started Home Companion Care Services as a social enterprise to invest in making the lives of the elderly and disabled better, as well as the lives of the caregivers enriched. With these positives at the forefront, Home Companion Care Services was started six years ago and continues to build momentum at this time. Fees for placement of caregivers is modest and reasonable in comparison to competitors.
Heads-Up Auto Repair
Heads-Up Auto Repair was started in 2020 by Neil Patterson, the owner of an auto repair chain in Utah. When Neil noted that several viable auto repairmen did not have employment due to former prison records, he started the social enterprise, “Heads-Up Auto Repair,” as a way to enrich the lives of these qualified repairmen, while earning a profit that would enrich their lives. The program for job training contains the phrase, “Heads Up,” as in “holding one’s head up high with pride in one’s work and the completion of that work successfully”.
Heads-Up Auto Repair serves customers throughout the state of Utah, where location managers are specially trained to assist repairmen in various aspects of customer service, team-bonding, personal skills and education, English-as-a-second-language training, and other services that increase the likelihood of the individuals continuing to excel in both the repair services they provide, but with an increased confidence in their lives overall, as well.
Animals Gone Wild
Animals Gone Wild is a wildlife viewing business that is a social enterprise located thirty miles from Ogden, Utah. Animals Gone Wild was started in 2010 by Amber Stenson, who determined that wild animals should live in the wild, even if their lives started in an enclosed zoo exhibit or other enclosed experience. Amber began a fundraising campaign to build and maintain the wild existence arenas for several wild animals, encouraging volunteers to serve the animals with her throughout their lives.
Animals Gone Wild charges a fee for visitors to ride a trolley through the “villages” where various species of wild animals live. Payments by visitors covers the costs of caring for and feeding the animals, while fundraiser campaigns pay for the structures, buildings and care of the Animals Gone Wild structural needs.
Download the Social Enterprise business plan template (including a customizable financial model) to your computer here <–
Competitive Advantage
EmpowerU will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly-qualified team of EmpowerU
- Comprehensive menu of services that benefit both the employers and the job candidates
- Full support and training for potential employees
- Reviews and assessments of employee during monthly and yearly visits
- As a social enterprise, EmpowerU charges extremely reasonable rates for employee placement, making them the lowest-priced employment service in Ogden
Marketing Plan
Brand & Value Proposition
EmpowerU will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled employees who are able to provide a comprehensive array of services benefiting employers, employees, and the greater Ogden population
- Intensive training and preparation for job candidates, far beyond those of competitors
- Unique reviews and assessments of employees during monthly and yearly visits
- As a social enterprise, EmpowerU charges extremely reasonable rates for employee placement, making them the lowest-priced employment service in Ogden
Promotions Strategy
The promotions strategy for EmpowerU is as follows:
Word of Mouth/Referrals
EmpowerU has built up an extensive list of contacts over the years by providing exceptional service and expertise to their clients and personal associates. Several former employer clients will follow the Goodwins in their new social enterprise to secure employees and will refer EmpowerU to their associates.
Professional Associations and Networking
EmpowerU will extensively target the professional associations and governmental agencies within the city of Odgen to inform and invite potential employers to seek qualified employees through EmpowerU.
Social Media Outreach
Through several social media channels, prospective employees with a wide variety of skills will be invited to reach out to EmpowerU for job training and placement. Invitations via social media will also invite employers of private companies and governmental agencies, particularly human resources managers, to engage with EmpowerU to place employees into advantageous roles.
Website/SEO Marketing
EmpowerU will fully utilize their website. The website will be well organized, informative, and list all the services that EmpowerU provides. The website will also list their contact information and offer an online reservation system for potential employees who would like to talk with or visit the EmpowerU offices. The website will engage SEO marketing tactics so that anytime someone types in the Google or Bing search engine “job recruitment company” or “employment agency near me”, EmpowerU will be listed at the top of the search results.
Pricing
The pricing of EmpowerU will be moderate and below competitors so employer clients will feel they receive excellent value when engaging new hires as a result of their services.
Operations Plan
The following will be the operations plan for EmpowerU.
Operation Functions:
- Matt Goodwin will be the co-owner and President of the company. He will oversee all employer client relations.
- Lauren Goodwin will be the co-owner and Vice President of the company. She will oversee the recruiting of potential job candidates.
- Austin Maven will become the Office Manager and will oversee all day-to-day office functions. He will manage the accounting and payroll for the social enterprise, as well as the detailed requirements needed to satisfy the social enterprise financials.
- Jeanie Parker will become the Operations Manager, assisting in the movement of people resources in and out of the business and overseeing the training and assistance programs.
Download the Social Enterprise business plan template (including a customizable financial model) to your computer here <–
Milestones:
EmpowerU will have the following milestones completed in the next six months.
- 5/1/202X – Finalize contract to lease office space
- 5/15/202X – Finalize personnel and staff employment contracts
- 6/1/202X – Finalize employment contracts for EmpowerU clients
- 6/15/202X – Begin networking at industry events
- 6/22/202X – Begin moving into EmpowerU office
- 7/1/202X – EmpowerU opens its office for business
Management Team
EmpowerU will be co-owned and operated by Matt and Lauren Goodwin. They have recruited their former administrative assistants, Austin Maven, and Jeanie Parker, to help manage the office and operations of EmpowerU.
Matt Goodwin is a graduate of the University of Utah with a Bachelor’s degree in Business Management. Lauren Goodwin is a graduate of Utah State College, where she earned an Associate’s degree in Social Sciences. Matt and Lauren have been working at an Ogden-based employment recruiter agency for the past ten years. During that time, they observed and practiced the functions of candidate placement into employment positions. They successfully placed over three hundred job-seekers into employment. They now want to help job candidates who need a “hand up” in securing employment by using all their acquired skills to make a change for the good of the city and state.
Austin Maven will become the Office Manager and will oversee all day-to-day office functions. He will manage the accounting and payroll for the social enterprise, as well as the detailed requirements needed to satisfy the social enterprise financials.
Jeanie Parker will become the Operations Manager, assisting in the movement of people resources in and out of the business and overseeing the training and assistance programs.
Financial Plan
Key Revenue & Costs
The revenue drivers for EmpowerU are the fees they will charge to employer clients for their employee placement services.
The cost drivers will be the overhead costs required in order to staff EmpowerU. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
EmpowerU is seeking $200,000 in debt financing to launch its social enterprise. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
Download the Social Enterprise business plan template (including a customizable financial model) to your computer here <–
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Employer Clients Per Month: 30
- Average Revenue per Month: $60,000
- Office Lease per Year: $100,000
Financial Projections
Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
| Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
| Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
| Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
| Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
| EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
| Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
| PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
| NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
| Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
| Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
| Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
| Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
| TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
| Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
| Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
| Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investment | ($180,950) | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
| Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
| Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Social Enterprise Business Plan FAQs
What Is a Social Enterprise Business Plan?
A social enterprise business plan is a plan to start and/or grow your social enterprise business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
What are the Main Types of Social Enterprise Businesses?
There are a number of different kinds of social enterprise businesses, some examples include: Trading social enterprise, Financial social enterprise, and Non-governmental organizations (NGOs) and charity social enterprise.
How Do You Get Funding for Your Social Enterprise Business Plan?
Social Enterprise businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Social Enterprise Business?
Starting a social enterprise business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Social Enterprise Business Plan - The first step in starting a business is to create a detailed social enterprise business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your social enterprise business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your social enterprise business is in compliance with local laws.
3. Register Your Social Enterprise Business - Once you have chosen a legal structure, the next step is to register your social enterprise business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your social enterprise business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Social Enterprise Equipment & Supplies - In order to start your social enterprise business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your social enterprise business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.