EXECUTIVE SUMMARY
Following
the high demand of poultry products and the rate at which young entrepreneurs
venture into poultry farm, I see there is need to establish a hatchery centre
to support small and medium sized business as well as new entrepreneurs as they
pursue innovation growth opportunity. The hatchery will provide customized
support during the process developing an opportunity of poultry farm.
This business idea is aimed at setting
up a chicken hatchery. And idea is premised on hatching eggs for layers and
broilers for both local and hybrids.
From my researching, I found out that
during previous political regime, the executive governor of the State,
established a hatchery centre at (ADDRESS
HERE), But presently the hatchery centre is not functioning and I believe
that since there is no hatchery centre in ___________, that my establishment
will not only provide employment to the youth and woman but will attract many other
investors outside and within the state to venture into poultry production, which
will create a market opportunity for many poultry farmers within the state.
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The business will be hatching 11,300
chicks per months which translate into 135,600 chicks per year. The revenue
potential is estimated at N 27,000 per
months which translate into N 304,000
per year. This is to make sure that the company reaches up to the high demand
of poultry production in Nigeria.
The company from my survey shall be
sited at (ADDRESS HERE) under ___________________ south L.G.A in ___________________. This is because it
is a good channel to all the rural areas within the state and since (ADDRESS HERE) is not the state capital
will cost me lower amount to get land and hire labourers than that of the state
capital. The product will be purchased from whole sale suppliers and re-sold to
retail consumers.
The centre end result will reduce the
rate at which poultry farmers spend finance/money for transportation just to
transport their day-old out side the state and will support business as they
grow.
BUSINESS DESCRIPTION
First,
Hatchery is a facility where eggs are incubated and hatched
The business plan will venture into setting up a
chicken poultry to hatch eggs to day-old chicks for the local farmers and young
entrepreneurs who venture into poultry farm. From the information I gathered
during my research. The workers at the OUR FARM hatchery centre made known to
me the current requirement for the establishment of a new hatchery business in ___________________ State. And they
also made known to me a better measures for the success of the business which
the include a good site for the location of my business plan which is (ADDRESS HERE) in __________ south
L.G.A of ___________ state since they say is a good channel to all the rural
areas within the state.
This business venture is a
sole-proprietorship and as an undergraduate in the field of animal science that
have gathered enough experience about hatchery, I have developed many
strategies to tackle every problem that may result to a collapse in the
business.
Three plots of land shall be bought
for the use of this business and is estimated at N900,000 and the structure, decoration of different officers and
sectors, car, packs and good road for an easy entry is also estimated at N75,00.
The project also entails installation
of incubator that will cost N320,000
where fertilized eggs are kept for a period of 21 days, and the are hatched to
day-old chicks, which are then sold to poultry farmers.
BUSINESS ENVIRONMENT ANALYSIS
CURRENT
STATUS: - Currently, the number of poultry hatcheries and incubators in the
country can not meet the demand of the poultry farmers. ___________________ state where my hatchery centre will be located
has no competitors since from my research I found out that there is no
functioning hatchery centre in the state.
However, what is obtained presently is
that farmers have to book for day-old chicks at the existing hatcheries and
wait for weeks or months before they can be supplied with day-old. Most of the
time, it is by allocation.
DEVELOPMENT PLAN
One
of the greatest problems facing Nigeria
to-day is unemployment. The cause of unemployment can be attributed to low
investment in the productive sector. So, in order to make sure that my company
tackle the problem of farmers waiting for weeks, or months just to get old-days
chicks, enough money will be invested to this business so as to produce up to
the farmers requirement. Thus establishment of this project will be an addition
to the productive sector, which on the short and long run will create
employment opportunities and reduce social vices in the country.
MARKET ANALYSIS
CURRENT
STATUS:
There really is no competitor within the state where my project is to
be located.
DEVELOPMENT PLAN:
My task are to encourage my customers to make
referrals, to implement direct marketing to groups and to go out to the various
ranches and poultry farmers to introduce my company.
MARKETING PLAN
CURRENT STATUS: Within the hatchery centre, business competes on
price quality, customer service and delivery.
DEVELOPMENT PLAN: - The business has a great market demand both in rural
and urban areas through out the year and I plan to sell my product to poultry
farmers.
I strongly believe that by offering a
good delivery services, I will gain a substantial number of customers both
through the advantages of my services and with an interesting advertisement I
will do. I will enter into direct sales and approach members of my target
markets with at least 10 square miles both via phone and with direct visit.
Where possible, I will ask farmers I know to provide me with an introduction or
to mention me to their neighbours and friends before I approach them. This will
both lend customers as genuinely in need of my services based on other’s
knowledge of them and will help the company to generate an Annual turnover of N35 million which has been computed, while
the profit margin of about 40 percent is realized after cost deduction
including bank charges.
I will also tell my customer about my
product and services and then ask them clearly what I need to do to earn their
business. I will then mirror back to them what they have said to be sure I
understand their needs.
Finally, I will create an
individualized sales proposal with their specific needs. I will present the
proposal as a written agreement by both parties to begin doing business. Detail
for each other will be entered into my customer database. Follow up calls will
go to each customer within 24hours of each delivery to ensure satisfaction.
If for any reason there is an issue it
will be handled immediately by one of the owner directly with the customer. By
this I will generate it’s customers. Public Awareness arrangement is as
follows:
Advertisement
on radio N17,000
Advertisement
on Tv N21,000
Advertisement
on Newspaper N 2500
Total N40,500
Promotions
will also be observed and the company will offer a price to the winners.
OPERATIONS PLAN
CURRENT STATUS: From my research I found out that the problem most of
the hatchery centre face especially that of ___________________, is:
1) lack of equipment
2)
Inability to
put enough funding
3)
Facilities
are not put in place
4)
Lack of
vehicles for distributing the day-old chicks
5)
Inability to
employ and pay workers in various offices.
DEVELOPMENT PLAN
These
are most of the things needed at the poultry site and it’s estimated prices.
And this shall be provided to avoid the collapse of my company.
Equipments and facilities
Hatchery
layout
Ventilation
design
Egg incubator
Fertile hatching eggs
Automation
Different
department and their estimated manpower requirement
General managers office
General
manager 50,000/month
Secretary
15,000/months
Production department
Production
supervisor manage 35,000month
All
workers here 25,000/month
Financial department
Book
– Keeper’s 7,000/month
Typist
5,500/month
Other department like
Security men 22,000/month
Labourers
14,000/month
Drivers
30,000/month
Total #203,500
Production procedure
There
are two processes to incubation:
Firstly you have the SETTING phase.
This is where the egg turn automatically for the first 18 days in the setter incubator.
Secondly, you have the HATCHERY phase
which is the last 3 days of the incubation cycle, from day 18 to 21. The eggs
lay still in the hatcher during these last three days until they hatch on day
21.
This is a business plan sample..... We can write a Feasibility
study / Business Plan for that business you want to venture in; a Business
proposal for that bank loan / grant you want to collect to start your
business.... Click Here for detailed Explanation
MANAGEMENT AND ORGANIZATION
The firm form of owners is proprietorship and the
organization encompasses other management teams that have their roles and
entitlement as follows:
NUBO
ANTHONY: - As the C.E.O of (NAME OF
BUSINESS) Chicken poultry enterprise. An animal scientist by profession,
and he is just a new entrepreneur, but he is also the CEO of (NAME OF BUSINESS) poultry farm.
Mr
A. : General Manager. He has worked as a production manager at the ministry of
Agriculture Lagos state which generates total revenue of 1.5 billion annually.
Due to the experience he have gathered, he will be the manager of this
enterprise and his salary will be N50,00/month
other officers and workers will be paid as stipulated at the operational plan
and also based on the annual income the enterprise is able to generate in a month.
FINANCIAL PLAN
This
covers three broad areas, the income statements, statement of cash flow annual
basis for three years and balance sheets.
1)
Income statements
Revenue
Sales
39,150,000
Cost
of sales
Cost
of goods sold 6,132,943
Gross
profit 7,234,069
Expenses
Advertising
180,000
Salaries
and wages 764,204
Employee
benefit programmer 120,000
Pension
& Annuality plans 6899,563
Compensation
of officers 6,899,563
Bad
Debt 120, 000
Rent
paid 150,000
Repairs 70,000
Depreciation
170,000
Interest
paid 24,000
Miscellaneous 34,000
Total
expenses 15397332
Net
profit before tax 3,253,202
Less
45% tax 1,694,075
Met
profit after taxation 1,882,640
Income
statement for 3 years
|
|
1
|
2
|
3
|
|
sales
|
39,150,000
|
42,211,000
|
63,342,000
|
|
Cost
of good sold
|
6132,943
|
7245862
|
9,467,789
|
|
Gross
profit
|
7,234,069
|
8345908
|
9057,892
|
|
Operating
expenses
|
15,397,332
|
16,428,143
|
19,343,824
|
|
Net
profit before tax
|
3,253,202
|
4,356,129
|
6,874,394
|
|
Less
45% tax
|
1,694,075
|
2,730,924
|
4,928,394
|
|
Net
profit after tax
|
1,882,642
|
3,493,706
|
5,568,672
|
Project
balance sheet
Asset
Cash
306,000
Accounts
receivable 635,600
Inventories 3.162,510
Current
Asset 4.649,140
Fixed
Asset 2.375,000
Total
Asset 7,024,140
Liabilities
Account
payable 45,880
Capital
5,000,000
Add
net profit 2.492,374
Net
worth 4,882,640
Total
liabilities & net worth 7,024,140
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