For most business owners, investors and entrepreneurs, the thought of researching and writing a business plan is very challenging but is often a necessary evil for those who want to succeed. There are a few popular Immigration Visas where you are required to put together a comprehensive business plan and the E-2 Treaty Investor Visa, L-1 Visa and the EB-5 Visa are good examples. These Visas are often granted or denied primarily based on your business plan and it is not something that you should take lightly. This is particularly the case if you are submitting an EB-5 application to United States Citizenship and Immigration Services (USCIS) as the immigration courts have held that the business plan must adhere to stringent standards.
All of the key ingredients that should be written into an EB-5 business plan were spelled out in the Immigration Appeal’s Board case, Matter of Ho. That is, all of the factors that Matter of Ho says should be in your business plan are really things that any good business plan writer would include. According to the case, when you file a I-526 petition, an EB-5 investor must submit a comprehensive business plan which must include a description of the business, what the business produces or the services provided and the objectives of the business. In addition, the plan should describe the manufacturing or production process, and the supply sources.
A comprehensive market analysis that includes an assessment of competitors strengths and weaknesses. This has to be a detailed analysis that includes financial data and looks at the competitor’s product, service and pricing structure.
You must also describe your target market and who you expect to buy your product or service and why. In addition, you should also detail any business that you have already secured and describe executed contracts.
You must provide a comprehensive overview of the marketing strategy of your business, including pricing, advertising, and how you will provide your products or services. You should detail the exact forms of marketing (eg. Google Ads, Newspapers, etc.) as well as the strategy.
A detailed outline of the business’s organizational structure and personnel is also required by USCIS. You should detail both current and future hires along with pay, job description and benefits. Your plan must include a significant amount of financial data including sales, cost/expenses, balance sheet, cash flow, and income projections. You should also include all relevant assumptions.
Researching and developing a great business plan takes a certain amount of expertise and you should hire a qualified professional to develop your plan. This becomes even more important if you are seeking bank financing and/or applying for an immigration petition.