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Making a Risk Management Plan for Your Business
It’s impossible to eliminate all business risk. Therefore, it’s essential for having a plan for its management. You’ll be developing one covering compliance, environmental, financial, operational and reputation risk management. These guidelines are for making a risk management plan for your business.
Developing Your Executive Summary
When you start the risk management plan with an executive summary, you’re breaking apart what it will be compromised of into easy to understand chunks. Even though this summary is the project’s high-level overview, the goal is describing the risk management plan’s approach and scope. In doing so, you’re informing all stakeholders regarding what to expect when they’re reviewing these plans so that they can set their expectations appropriately.
Who Are the Stakeholders and What Potential Problems Need Identifying?
During this phase of making the risk management plan, you’re going to need to have a team meeting. Every member of the team must be vocal regarding what they believe could be potential problems or risks. Stakeholders should also be involved in this meeting as well to help you collect ideas regarding what could become a potential risk. All who are participating should look at past projects, what went wrong, what is going wrong in current projects and what everyone hopes to achieve from what they learned from these experiences. During this session, you’ll be creating a sample risk management plan that begins to outline risk management standards and risk management strategies.
Evaluate the Potential Risks Identified
A myriad of internal and external sources can pose as risks including commercial, management and technical, for example. When you’re identifying what these potential risks are and have your list complete, the next step is organizing it according to importance and likelihood. Categorize each risk according to how it could impact your project. For example, does the risk threaten to throw off timelines or budgets? Using a risk breakdown structure is an effective way to help ensure all potential risks are effectively categorized and considered. Use of this risk management plan template keeps everything organized and paints a clear picture of everything you’re identifying.
Assign Ownership and Create Responses
It’s essential to ensure a team member is overseeing each potential risk. That way, they can jump into action should an issue occur. Those who are assigned a risk, as well as the project manager, should work as a team to develop responses before problems arise. That way, if there are issues, the person overseeing the risk can refer to the response that was predetermined.
Have a System for Monitoring
Having effective risk management companies plans includes having a system for monitoring. It’s not wise to develop a security risk management or compliance risk management plan, for example, without having a system for monitoring. What this means is there’s a system for monitoring in place to ensure risk doesn’t occur until the project is finished. In doing so, you’re ensuring no new risks will potentially surface. If one does, like during the IT risk management process, for example, your team will know how to react.
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Writing a Business Plan
While it may be tempting to put off, creating a business plan is an essential part of starting your own business. Plans and proposals should be put in a clear format making it easy for potential investors to understand. Because every company has a different goal and product or service to offer, there are business plan templates readily available to help you get on the right track. Many of these templates can be adapted for any company. In general, a business plan writing guide will recommend that the following sections be incorporated into your plan.
Executive Summary
The executive summary is the first section that business plans open with, but is often the last section to actually be written as it’s the most difficult to write. The executive summary is a summary of the overall plan that highlights the key points and gives the reader an idea of what lies ahead in the document. It should include areas such as the business opportunity, target market, marketing and sales strategy, competition, the summary of the financial plan, staff members and a summary of how the plan will be implemented. This section needs to be extremely clear, concise and engaging as you don’t want the reader to push your hard work aside.
Company Description
The company description follows the executive summary and should cover all the details about the company itself. For example, if you are writing a business plan for an internet café, you would want to include the name of the company, where the café would be located, who the main team members involved are and why, how large the company is, who the target market for the internet cafe is, what type of business structure the café is, such as LLC, sole proprietorship, partnership, or corporation, what the internet café business mission and vision statements are, and what the business’s short-term objectives are.
Services and Products
This is the exciting part of the plan where you get to explain what new and improved services or products you are offering. On top of describing the product or service itself, include in the plan what is currently in the market in this area, what problems there are in this area and how your product is the solution. For example, in a business plan for a food truck, perhaps there are numerous other food trucks in the area, but they are all fast –food style and unhealthy so, you want to introduce fast food that serves only organic and fresh ingredients every day. This is where you can also list your price points and future products or services you anticipate.
Market Analysis
The market analysis section will take time to write and research as a lot of effort and research need to go into it. Here is where you have the opportunity to describe what trends are showing up, what the growth rate in this sector looks like, what the current size of this industry is and who your target audience is. A cleaning business plan, for example, may include how this sector has been growing by 10% every year due to an increase in large businesses being built in the city.
Organization and Management
Marketing and sales are the part of the business plan where you explain how you will attract and retain clients. How are you reaching your target customers and what incentives do you offer that will keep them coming back? For a dry cleaner business plan, perhaps if they refer customers, they will get 10% off their next visit. In addition, you may want to explain what needs to be done in order for the business to be profitable. This is a great way of showing that you are conscious about what clear steps need to be taken to make a business successful.
Financial Projections & Appendix
The financial business plan section can be a tricky one to write as it is based on projections. Usually what is included is the short-term projection, which is a year broken down by month and should include start-up permits, equipment, and licenses that are required. This is followed by a three-year projection broken down by year and many often write a five-year projection, but this does not need to be included in the business plan.
The appendix is the last section and contains all the supporting documents and/or required material. This often includes resumes of those involved in the company, letters of reference, product pictures and credit histories. Keep in mind that your business plan is always in development and should be adjusted regularly as your business grows and changes.
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4. PROCESSING
4.1 Technological Processes 4.2 Processing Operations
4.1 Technological Processes
The main objective of canning is to obtain a shelf-stable product that can be stored in suitable containers for a considerable length of time (at least two years) without undergoing food spoilage, while retaining desirable nutritional and sensory qualities.
To achieve satisfactory shelf-life the following conditions must be observed:
- The contents of the cans must be commercially sterilized.
- The inside of the can must be resistant to and damaging effects from the contents and the outside must be resistant to corrosion under reasonable storage conditions.
- The can ends must be sealed to prevent ingress of water and/or air or any form of contamination.
4.2 Processing Operations
4.2.1 general.
Fish should be chill stored at a temperature between 0º and 2 ºC, or sorted frozen in freezers at temperatures below -28 °C.
When frozen fish is used, it must be thawed before grading and/or dressing.
In the following descriptions of the processing stages for various products, operations which are similar are described in Chapter 4.2.2 "Description of canning tuna in brine", and subsequently only mentioned.
4.2.2 Description of canning tuna in brine
The description is related to canning plant with a capacity of 20 tons whole raw fish (bluefin or yellowfin tuna) per 8 hours. The overall yield is approximately 50-55% which gives approximately 10 000 450 g (1 pound) cans or 20 000 225 g (1/2 pound) cans per 8 hours. See Figure 4 "Layout for tuna cannery".
Simplified flow sheets for canning tuna in brine, tuna flakes with vegetables and tuna. pet food are shown in Figures 5, 6 and 7 respectively.
Sequential processing operations for canning tuna are described as follows:
Holding of frozen tuna for long periods before thawing may lead to oxidation of fat resulting in a yellow to orange discolouration on the surface of the cooked loins. Usually this surface discolouration can be removed when the fish is cleaned.
- Longitudinal cuts are common with large sized tuna and the viscera are removed from the fish on board fishing vessels prior to freezing. Bonito and skip jack are frozen with viscera. Once thawed, the tuna is washed and inspected for spoilage. If tuna is not eviscerated on board vessels this must be done in the plant. The splitting and evisceration procedure is the only butchering operation performed on the tuna while it is in the raw condition. All other cleaning is performed after the tuna has been cooked. Loss of weight is approximately 24-27%.
Figure 4 Layout for tuna cannery
Figure 5 Flow sheet for canning tuna in brine
Figure 6 Flow sheet for tuna flakes with vegetables
Figure 7 Flow sheet for tuna pet food
The fish is placed in baskets which are placed on racks. The racks of butchered fish are rolled into the cookers which are usually of rectangular cross section and made of reinforced steel plate with a door, or doors, at one or both ends. The pre-cooking is a batch type operation.
Steam is admitted through a steam spreader on the floor of the cooker. Steam vent and drain valves are provided to permit removal of air and condensate. Pre-cooking may also be carried out in boiling brine.
The pre-cooking time for individual batches varies widely according to the size of tuna. For example, the cooking time may vary from 1 1/2 hours for small tuna to 8 to 10 hours, or more, for larger tuna. Loss of weight is approximately 22-26%.
- Tuna is cooled thoroughly to firm the flesh before the manual cleaning operation can be performed. Loss of weight is approximately 3-5%.
- After the pre-cooking and cooling operations, tuna is individually cleaned. The head is removed and the fish is skinned and split into halves before removing the tail and backbone. The loins are produced by splitting the halves of the fish along the median line. Red meat is then removed from each loin; the blood and dark meat are scraped away and the loins, edible flakes and waste products are separated; of these portions approximately 15% is flake tuna.
Chunk packs are produced from loins which are cut on a moving belt by means of reciprocating cutter blades. The cut loins are then filled into cans by tuna filler machines.
Flakes and grated tuna, which is produced from broken loins and flakes, are J packed in the same way as chunk packs.
- The open cans next pass the line where additives such as salt, vegetables and finally either water or oil are added. Oil should be added slowly over a sufficient stretch of the line to permit its thorough absorbtion by the tuna meat. When oil is not added an equivalent amount of water replaces it. The oil temperature is recommended to be 80 ºC-90 ºC.
As the pressure in the can increases considerably during heat processing , the vacuum is necessary to minimize the pressure increase in order to reduce the chance of distortion (peaking) and damage to the double seam.
After processing and cooling the formation of .the vacuum causes the ends of the can to assume a concave profile which is characteristic of vacuum packed and hermetically sealed cans. The vacuum also reduces the residual oxygen content in the can and therefore the extent of internal corrosion.
In order to form a vacuum, cans are seamed by using either vacuum seamers or an exhaust system.
When using the exhausting method the lids of the cans are first clipped or clinched on to the body in such a way as to allow free passage of gases and vapours out of the can. The can and contents are then heated by passage through an exhaust box. The lid is seamed to the can immediately it emerges from the exhaust box, so that when the contents cool a vacuum is obtained. Thus the system relies on sealing the can while the contents are hot and allowing product contraction to create the vacuum.
An alternate method of achieving a vacuum in sealed cans is by using vacuum seamers. These machines close the cans and while so doing draw the air out thus creating a vacuum.
- The double seaming method is usually used to seal metal containers. The seam is created in two operations. See Figure 8. "Seaming Operation -Double Seam (CAC/RCP 10-1976) .
The can, with the lid (can end) placed or clinched on top, stands on a base plate which is raised so that a chuck fits into the countersink part of the lid, holding both in position. The can end which is lined with a plastisol sealing compound is crimped into place so that it forms the so-called "cover-hook" around the lip of the container body.
The "cover-hook" and the enclosed lip of the container are folded down against the container and interlock about the "body-hook". Both hooks overlap to form a strong joint which acts as a hermetic seal. The sealing compound renders the seam air tight (hermetic). Around its circumference the double seam consists of five layers of metal -three layers of the can end and two layers of the can body, however at the intersection with the side seam there are seven layers of plate, the extra two being due to side seam overlap. The seaming operation must be monitored throughout the processing and visual inspections should be carried out at least every 30 minutes (Warne, 1993). Good manufacturing practice indicates that the. overlap should be at least 45 % of the internal seam lenght to ensure that the seam will function correctly and resist to minor abuse.
Figure 8 Seaming operation -double seam
- The sealed cans are transferred by a conveyor through a can washer which cleans the cans in detergent and water before discharging them into retort baskets. The retort baskets are transferred into the retort and the cans sterilized.
Table 7 Examples of retorting temperatures and times for canned tuna
All canned fish products are sterilized at temperatures above 100 ºC. Sterilization takes place in retorts, with or without water. Overpressure is between 2-3 kg/cm². Processing conditions shown are suitable for those canneries , operating under conditions of good manufacturing practice. Individual canneries may select different processing times and/or temperatures to suit their manufacturing requirements.
The simplest and most common retorts today are horizontal, or vertical, batch retorts.
The following general description. applies to processing in batch retorts using saturated steam as the heating medium.
After the retort is loaded the door or lid is closed and the seal is checked to confirm that all the lugs are fastened securely. The temperature recorder is checked to ensure that it is working correctly. Following this the vents and bleeders are opened and the drain and overflow are closed {unless the over flow is used for venting).
The retort is now ready for operation during which the following operational procedures should be adopted:
Steam is admitted by gradually opening the controller and the steam by pass lines. When the correct venting temperature is reached ( > 100 ºC) and/or the specified, vent time has elapsed, the vents are closed. It is bad practice to vent less than the recommended time; nor should reliance be placed on agreement between the mercury thermometer and pressure gauge readings as a criterion for complete air elimination, as this is not necessarily a true indication of the required condition. If the pressure gauge is reading high while the temperature is reading low, there is still air in the retort and venting should be continued until agreement between pressure reading and the corresponding retort temperature is reached. Gradually close the bypass as the retort approaches the processing temperature. This will prevent a sudden drop in temperature as the steam supply is cut when the retorting temperature is reached. When the retort has reached the processing temperature, check the temperature indicated on the mercury and recording thermometers. While it is not serious if the thermograph indicates a temperature slightly lower (say 1 °C) than the mercury thermometer, it is most important that it never reads higher. At all times the mercury thermometer should be used as the reference, for indicating true retort temperature. At the start of the process, record on the production records the time, the mercury thermometer reading, the pressure, and the temperature indicated by the recording thermometer. Keep a record of the come-up time to make certain it has been long enough to . allow sufficient venting. Maintain the retort temperature at the recommended processing temperature. Throughout the process, check that the specified temperature is being maintained. Leave all bleeders wide open during the entire process. When the recommended processing time has elapsed, turn off the steam and immediately start the cooling cycle.
- When processing medium sized or larger cans (say greater than 250 g) in retorts using steam it may be necessary to cool the cans under pressure so that the ends do not peak during cooling. Steam may be used to maintain the pressure but compressed air is more usual. The cooling time depends on the processing temperature, the temperature of the water used for cooling, the can size and the nature of the pack (i.e., liquid to solid ratio).
- If necessary the cans should be washed before temporary storage, however under no conditions should the processed cans be manually handled while wet.
4.2.3 Description of the processing operations of an automatic canning line for skipjack
The descriptions are related to a plant with a capacity of 10 tons whole fish per 8 hours. The overall yield is 50-55% and approximately 9 000-10 000 450 g (1 pound) cans are produced per 8 hours. See Figure 9 "Layout por skipjack cannery". The weight of the fish to be processed is approximately 2 to 5 kg per fish.
The fish is conveyed to a rotating nylon brush under which it is cleaned by water spray nozzles.
After evisceration the tuna is conveyed to an inspection table where the final cleaning is completed manually; or where those fish, too large for the gutting machine, can be butchered. At the discharge of the gutting machine the offal is directed to a rotating filter drum for separations of water; the retained offal, is pneumatically pumped to containers.
Figure 9 Layout for skipjack cannery
- Inspectors examine the fish, while it passes on the conveyor, to ensure that is has been satisfactorily cleaned.
- Fish are automatically size-graded to assist in feed to the rotor cooker and regulation of cooking time.
The cooker is divided into 16 cells into which the fish is fed. The bottom of the cooker is separated by a heavy mesh plate, and under this are placed heat exchangers for indirect steam heating.
After cooking the fish are transported on a continuous belt to the counter-flow cooler (a stainless vessel with freshwater supply) and then on to the cleaning stations.
- Typical cleaning arrangements consist of:
One working table for cleaning the tuna after cooling One rotating table fitted with holders/cups for loins One discharge elevator for transportation of loin portions from the rotating table to the packing machine One offal conveyor monted beneath the cleaning station to collect and " discharge offal.
The operations are as follows:
- The 1st operator removes the fish from the conveyor and transfers it to a working. table where the skin and the head are removed.
- The 2nd operator opens the fish, removes the backbone and divides the fish into 4 loins. Simultaneously the majority of dark meat is removed and single loins are placed in the cups on the rotating table.
- The 3rd and 4th operators clean the loins, removing the remaining dark meat. The cleaned loins are then removed automatically from their cups to a rubberbelt conveyor which transports them to an overlying conveyor.
- The loins then pass to an automatic scale for continuous weighing which makes it possible to monitor production yields. After weighing the loins pass to an I accumulation station prior to passing to a pack-shaper which packs the loins into cans.
The filled cans pass to an oil/brine filling machine before the vacuum seaming machine.
Description of the subsequent operations and their effects on yield are similar to those described for canning tuna in brine.
4.2.4 Description of canning sardines in oil
The method for canning sardines in oil is often called the raw packaging method which contrasts with the method in which the sardines are thermally treated before packing into cans.
The processing plant related to the description has a capacity of 15 tons raw fish per 8 hours. The overall yields is approximately 50% of the weight of raw fish. See Figure 10 "Layout for sardines in oil, cannery" which shows a plant of this capacity.
Figure 10 Layout for sardines in oil cannery
One ton of raw sardines is required to produce 5 200 (5 263) 1/4 club cans, packed into 52 cases of 100 cans each or 5 800 (5 882) 1/4 dingley cans packed into 58 cases of 100 cans each.
Figure 11 shows "Flow sheet for canning sardines in oil".
The operations after the thawing of the frozen fish or after transporting the fresh fish from the chill store are as follows:
The number of sardines per can permitted for various can types is given in Table 8
Table 8 . Number of sardines per can permitted* for various can types
* Permitted by ?
The smallest size of sardines allowed for canning (in Norway) is 9.5 cm.
- After grading, the sardines are discharged onto a conveyor for transportation to the nobbing machine where the head and guts of the fish are removed. On a typical nobbing machine, the fish are placed on continuous belts with one fish in each compartment. The belt feeds the fish to a cutting wheel which cuts the head, and together with the guts, draws it away from the body with rollers. If necessary the tails are cut in the same operation.
The packers examine the fish to ensure complete removal of guts. Loss of weight during nobbing is approximately 21%.
Nowadays there are also nobbing machines with greater capacity, served by four or more operators, which can complete following operations:
Removal of the head Evisceration Removal of the tail Washing the fish Packing the fish into cans
The automatic nobbing/packing machine has a capacity of 35-80 cans per minute and requires approximately 50% of the manpower required by a traditional canning line (Perovic, 1983).
Figure 11 Flow sheet for canning sardines in oil
- After nobbing the sardines pass through a washing process to remove blood and surface slime. Washing machines of many types may be used. Washing should be with potable water or sea water of similar quality. (For certain species with hard and inedible scales, such as pilchard, special washing machines suitable for removing scales are used).
Salt is absorbed by the flesh; a salt content of about 1-2% of fish weight, when in boxes is acceptable. The brining machine is equipped with a filter to screen particles from the brine.
In addition to giving the product the desired salt content, brining has other beneficial effects. The process brightens the appearance of the fish by removing remaining slime and also toughens the skin; when unbrined fish are canned much of the skin adheres to the can.
After brining, the fish are allowed to drain before being transported to the packing table.
The brine must be prepared from salt which does not contain large quantities of magnesium chloride, a common contaminant in unrefined salt. The brine should be replaced regularly as otherwise it becomes a source of contamination.
A manually operated packing line is equipped with conveyor belts, the speed of which can be altered in order to ensure a smooth supply of sardines and cans to the packers. The filled cans and waste are removed by the conveyor after packing.
In common sardine lines the filled cans pass over a weight control unit to a can aligner and then to a can pusher, which automatically feeds the conveyor transferring them to the pre-cooker.
Change of yield during the packing process depends on the quality of raw material, but on average 5% loss of weight is expected.
Between the two sections water is drained from cans as the crates are turned through 360° around a tumbler. The heat in the cooking section is obtained from supply of direct steam while the heat in the drying section is indirectly supplied from a heat exchanger. A fan located on the top of the section circulates the heated air. Weight loss during this operation is approximately 25 %.
- From the cooker the cans are automatically transferred onto a conveyor which takes then to the oil dispenser and onto the seaming machine where they are sealed.
- Before the retorting process the cans are washed to remove fish residues and oil from the outside of the containers.
- Further operations as for canning tuna in brine. See chapter 4.2.2. .
Table 9 Examples of retorting temperatures and time for canning sardines
4.2.5 Description of canning pre-smoked sardines in tomato sauce or oil
Most of the operations in this process are similar to those described for canning sardines in oil.
The description is related to a plant capacity of 5 tons of raw fish per 8 hours.
The yield from canning of sardines and other pre-smoked small fishes approximate the yields obtained when canning sardines in oil.
See Figure 12 "Flow sheet for canning pre-smoked small fish in tomato sauce and oil", and Figure 13 "Layout for pre-smoked small fish cannery" which shows a plant of the capacity mentioned above.
The various operations are described below.
- Grading is similar to the operation described for canine sardines in oil.
- Brining is similar to the operation described for canning sardines in oil.
The automatic rodding being a complicated process is only practised in large plants. The rodded fish are placed into frames which are fitted to the smoking racks.
The frames have usually accommodate for 30 rods, each with 30 fish.
Usually tunnel type smoking kilns are used in which there is a controlled temperature gradient between 30° and 125-130°C.
The air passes through a heat exchanger while smoke added. The smoke is produced by a smoke generator using sawdust from hard woods (oak or similar). Loss during smoking is approximately 25%.
- After smoking the bodies of the fish are separated from the heads with an automatic cutting machine. The heads are then removed from the rods with an automatic rod stripping machine. Loss of weight during the deheading operation is approximately 10-12%.
When preparing tomato sauce, puree of good quality must be used and to this is added olive oil or fish oil, etc.
Typical mixtures comprise one part oil and two parts tomato puree (20% concentration).
- All subsequent operations are similar to those described for canning sardines in oil.
4.2.6 Description of canning fish paste products
The description is related to a fish paste canning plant with a capacity of l0 tons whole raw fish per 8 hours. The production is based on either deheaded, gutted fish with an average weight of 1.5 kg or smaller industrial fish. See Figure 14 "Layout for fish paste products cannery" which shows a plant of the capacity mentioned above.
Overall yield when manufacturing canned fish paste products depends on species involved, however, approximately 45-65% of raw fish weight could be used for planning purposes.
The output from a plant producing meat balls is approximately 25 000/850 ml cans per 8 hours; alternatively 8 000/850 ml cans of fish cakes or 15 000/850 ml cans of meat balls could be produced.
Figure 12 Flow sheet for canning pre-smoked small fish in tomato sauce and oil
The flow sheet for canning fish paste products is shown in Figure 15.
The various processing operations are summarised as follows.
The raw material has to go through a grinding/chopping and mincing process.
- The fish are washed, descaled when necessary, eviscerated and deheaded.
- According to skin thickness and size, the fish will have to be split into halves from head to tail along the backbone.
- The split and opened fish are washed and cleaned.
- The washed split fish is separated in a meat-bone separator. According to the type of fish one will get an acceptable minced product, and offal, bones and skin.
- If the mince is unacceptable, (i.e. ,discoloured because of blood etc. ), it may be necessary to have it washed and then dewatered by means of a screwpress
This will improve the binding properties of the fish. See Figure 16 "Processing line for fish meat".
Figure 13 Layout for pre-smoked small fish cannery.
Figure 14 Layout for fish paste products cannery.
Figure 15 Flow sheet for canning fish paste product.
- Starch, spices and, if necessary, onions, fat, etc., are added.
- Liquid milk is added and according to the type of mincer, it will take 10-12 min for the materials to reach a soft and formable conditions.
- The fish balls can be formed in machines, by hand with spoon, or by hands only, and dropped into a 1 1/2% solutions of salt water at approximately 90 °C.
- After cooking in the salt solution for approximately 5-8 min the fish balls are filled into cans.
- Hot brine or fish bouillon is added.
- After seaming the product goes immediately to retorting.
Figure 16 Processing line for fish meat
Figure 17 Layout for salmon cannery
Several alternatives for retorting temperatures and times are shown in Table 10.
Table 10 Examples of retorting temperatures and times for canned fish paste products
- Further descriptions are as for canning tuna in brine.
4.2.7 Description of canning salmon
The description is related to a processing plant with a capacity of 8 tons of raw fish per 8 hours; this capacity has been based on using whole fish weighing 4 kg each. See Figure 17 "layout for salmon cannery".
The overall yield when canning salmon is between 55 to 60 %, depending on the size of the fish. With a yield of 55%, 1 ton of raw salmon will give 3 400 (3 437) 225 g (1/2 pound) cans.
The processing operations are described below. See Figure 18 "Flow sheet for canning salmon"
- The fish are transported to a sorting table and sorted by species.
- The salmon are eviscerated with an iron chink machine which removes the head, fins and viscera from the salmon (see Figure 19). The loss of weight is approximately 35-40 %
- The eviscerated, deheaded fish is next conveyed to the sliming table. Sliming consists of removing fins, viscera and blood, etc. not removed by the buchering machine. During the sliming operation the fish is throughly washed. The loss of weight is approximately 3-5 %.
Figure 18 . Flow sheet for canning salmon.
- From the sliming table the cleaned fish is conveyed to a fish cutter fitted with revolving sknifes which cut the fish into slices. The slices are then .fed into an automatic filling machine. The loss of weight is approximately 0.5-1.0 %.
- The filling machine fills the cans with the salmon after which salt is added.
- The filled cans pass through an automatic scale which sorts for under Weight cans.
- From the scale the cans pass into a vacuum seaming machine.
- The filled and sealed cans are then discharged from the seaming machine through a can washer.
- After seaming the product goes immediately to retorting. Retorting conditions of approximately 115 °C for 100 min are used for 450 ml cans.
4.2.8 Description of canning shrimps
Headless, peeled shrimps are graded according to number of shrimps per 100 g of drained product. See Table 11 (Codex Stan 37-1981).
1. HEADER KNIFE 2. FISH IN POSITION FOR HEADING 3. BULL RING WHICH CARRIES FISH THROUGH THE MACHINE 4. BACK PINCERS 5. TAIL PINCERS ADVANCED AND GRASPING FISH 6. TAIL CUA OFF SAW 7. BELLY FINNING KNIFE 8. BACK PINCERS ADVANCED AND GRASPING FISH 9. BACK FINNING KNIFE 10. BELLY SLITTING SAW 11. GUIDE TO OPEN BELLY FLAPS FOR GUTTING REEL 12. GUTTING REEL TO REMOVE VICERA 13. KNIFE AND REEL TO SLIT KIDNEY MEMBRANE AND TO REMOVE KIDNEY 14. BRUSH TO REMOVE BLOOD AND MEMBRANES 15. ROLLER TO SUPPORT BULL RING 16. FISH RELEASED AS BACK AND TAIL PINCERS RETRACT 17. CONVEYOR TO REMOVE BUTCHERED FISH
Figure 19 Iron chink for dressing salmon
Table 11 Number of shrimp per 100 g of drained product
Figure 20 Layout for shrimp cannery
It is usual to can only those shrimp which fall in the medium to very small size range.
The description is based on a processing plant capacity of 3.6 tons raw shrimp per 8 hours. This corresponds to production of 12 000-14 000 cans, each containing 75 g shrimp, in 8 hours.
The overall yield from canning shrimp is between 25 to 30% of raw weight. See Figure 20 "Layout for shrimp cannery " which shows a plant of the capacity mentioned above. The description is based on using iced raw shrimp as the raw material. The shrimps are usually graded before delivery to the cannery. See Figure 21 "Flow sheet for canning shrimps" .
The operations in the canning process are summarized below:
- On arrival at the cannery, ice is removed before washing the shrimps.
- The shrimps are throughly washed while being conveyed into the plant.
- After washing the shrimps are inspected and foreign debris removed.
- The shrimps are then conveyed to a peeling machine, which separates the shells and heads from the body. This operation can also be done manually. Aproximately 46% of the total weight is lost during this process.
- After peeling, the shrimps pass through to a waste separator, which removes fragments left after peeling.
- The cleaned shrimps are loaded into baskets and placed into a boiling salt solution for cooking. Average salt concentration in the solution is 11-13%. The cooking time varies from 6-10 minutes depending on the size of the shrimps.
- After cooking the shrimps are inspected and any broken ones and/or pieces are removed. The shrimps are then dried by fans.
- The shrimps are weighed and hand-filled into cans. The weight of the shrimps . should be 64% of the content of the can. Aluminium cans are preferably used for shrimp canning, however if tin plate cans are used, layers of parchment paper should be placed between the shrimps and the can to prevent corrosion. Hot or cold brine is filled into the cans.
Table 12 Example of mixture for brine
- The cans are automatically closed and transferred to retorts for processing.
Figure 21 Flow sheet for canning shrimp
Table 13 Examples of retorting temperatures and times for canning shrimp
- Further operations are as for canning tuna in brine
Agriculture Farming
Vegetable farming, fruit farming, livestock farming, project reports.
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Table of Contents
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Fish Farming Business Plan For Beginners
Fish Farming Business Plan:
Introduction to Fish Farming Business Plan:
If you are planning for a commercial fish farming business, no doubt fish farming is a more profitable venture. In a commercial fish farming business plan, first need to study about the process of farming fish for a good profits.
Market analysis and business plan are the must to initiate a fish farming business. You should do an intensive market research before getting into it. Then analyze the local market trends and demand for type of fishes. If you are planning for commercial fish farming business for exporting, then talk to fish processing units prior. Choosing exact fish species for your business to get success in fish farming business. Choose fish species for farming depends on the climatic conditions, market demand, maintenance point of view, and as per the availability of resources etc.
To get complete knowledge about fish farming business, you can get training from Government running farms that conduct training. Or working at a successful fish farm give you a good knowledge of farm management, water quality management, disease control, feeding, marketing and processing skills.
For a profitable farming, you should get the complete information about hatching fish, eggs and then grooming them to the maturity.
There are two basic methods of farming fish based on the species of fish you have chosen. Starting a fish farm business, you need to ready to face many hurdles, fish farming indeed a profitable business venture. First, decide whether you are planning for a small scale or on a large scale commercial fish farming based on your financial status.
Fish Farming Business Plan – A Complete Guide
Industry Overview
The Aqua Industry is no doubt a leading industry in most countries of the world: commercial fish farming business plan includes farming of different species of fishes.
The Fish and Seafood, Aquaculture industry is a large, very large industry and have good market in all parts of the world, especially the countries, United States of America, India, Canada, United Kingdom, Portugal Germany, Australia, the Caribbean etc.
Most fish farmers do commercial fish farming business, some best niches of commercial fish farming are:
- Raising and harvesting finfish (e.g. Catfish, trout, tilapia and minnows)
- Raising and harvesting shellfish (e.g. Clams, oysters, crustaceans, mollusks and shrimp)
- Raising and harvesting ornamental fish (e.g. Goldfish and tropical fish)
Fish Farming Business Plan – Types of Fish Farming:
There are many varieties of fishes that can be raised for commercial fish farming business. In you fish farming business plan, type of fish farming plays a key role. Most common fishes farmed in commercial farms are salmon, carp, tilapia, catfish and cod.
- Catfish Commercial farming
Catfish most suitable and profitable species for commercial fish farming. Catfish has huge market demand for its amazing health benefits and market demand. In a commercial fish farming, catfish takes 18 months to get ready, catfish grown in fish pond is smaller than the wild catfish. There are several varieties of catfish species, most popular catfish varieties are blue catfish, channel catfish, and flathead catfish.
- Tilapia Commercial farming
Tilapia is another profitable fish species suitable for commercial fish farming after carp and salmon. These fish have great demand for its high popularity and rich in proteins and vitamins. Tilapia fish grow to large size depending on the capabilities. Tilapia fishes are tropical varieties requires required warm water to grow. The ideal water in the fish should be temperature be between 28 to 30 degrees. These fish ponds need intensive management. Tilapia’s are more resistant to disease and parasites. Tilapia fish should be fed with cereal-based diet and these fish don’t eat other fishes, and these fish are considered as more invasive fish species.
- Salmon farming
Salmon is another popular variety for commercial fish farming. Salmon fish comes in two other varieties are – Chinook and Coho. These fish species are not disease resistant, these should be vaccinated to prevent from diseases and they even need additional medication in extreme conditions.
- Tuna Commercial farming
Tuna fish are saltwater species that give more profits in commercial fish farming. There are different varieties of Tuna fishes, bluefin, yellowfin, and albacore. Commercial farming Tuna fish is a bit difficult as these fishes are massive and very active. Tuna fish are carnivores and these fishes eat other fishes. Farming of Tuna fishes is done in net pens offshore and in recirculation systems. Japan is the largest consumer of Tuna Fish.
- Eel Commercial farming
Eel fish farming is the profitable species for commercial fish farming. These fishes have huge demand in export markets. Eels fishes are a carnivorous and catadromous fish, means these fishes grow in fresh water when they are young, and they migrate to sea water for breeding. Asia, China, Japan and Taiwan are leading producers of commercial eel fishes as the biggest producers. Eel farming can be grown in – high intensity recirculating tank (indoors) or intensive pond facilities.
- Shrimp Farming
Commercial shrimp farming has a great market in the Asian market. Commercial shrimp farming has a simplest culture approach. Shrimp has a great market demand is very high and you can initiate small and large-scale shrimp farming very easily with less effort.
- Ornamental Fish Farming
Ornamental fishes are colorful and attractive and generally known as aquarium fish. According to an NABARD report the ornamental fish trading industry with a turnover of US $ 6 Billion and an annual growth rate of 8 percent offers lots of scope for development.
Fish Farming Business Plan – Fish farming supplies for Commercial Fish Farming:
You require many fish farming supplies for in commercial fish farming business. A commercial farming equipment’s and systems required for commercial farming business are fish feeds and fish feeders, filtering systems, air pumps, heating and cooling systems, lighting equipment, hydroponics equipment, predator control fences, tanks and water treatment products.
Feed and feeders Feed quality plays a key role fish farming. Feeding depends on desirable color, growth and overall health and well-being of the fishes. There are a wide variety of different feeds are required for different types fish species.
Water Filtration Systems: Water filtration systems are important, that shows the great impact on pond environment. Filtration includes removal of waste products in the pond water. There are several varieties of filtering systems that can be used, depends on the requirement.
Hatchery supplies : Commercial fish farming required hatchery equipment’s like fish graders, shipping supplies to spawning and handling containers.
Predator control: You should take necessary steps in controlling predators. Take the necessary steps like fences, and physical deterrents like visual and audio deterrents.
Construction of Fish Ponds for Fish Farming Business:
Fish farming business is an ancient farming method that has increased its market these days. Fishes are a great source of vitamins and proteins, through commercial fish farming that is done in fresh water can help you to grow different variety of fishes for consumption.
Building a fish farming pond is a tough task, but running a fish farming business is rewarding, fun, and can earn you good returns in the long run.
Read: Dairy Farming Courses, Fees in India .
Here we give you a complete information about a fish farming pond in a fish farming business plan:
Pond Building Preparation
First, Decide the type fish farm: Before you are planning for fish pond construction and design, first decide,
- Type of fish you are planning to farm.
- The size the fish you can grow when they are grown up.
How Many fishes you can grow in a fish pond?
The Pond size should be capable of handling the type of fish you are planning to grow. If growing too large size fish, pond size may be sufficient when they are small in size, but if they attain a large size, the space may be congested. So, make a deep study about the type of fishes and their required pond size.
Select A Suitable Location for constructing fish pond:
The Position of the fish pond plays a key role in good and healthy growing fishes. If planning a fish farm in backyards or any other place, select an appropriate position. Consider the following steps before choosing a location for the fish pond:
- The level of the ground in the site should be a bit low and flat. If not first thing is level up the ground completed.
- The fish pond should have a good provision to collect natural rain water or runoff. This helps to keep the pond water fresh.
- Construct the barriers around the fish pond.
- If the area you are constructing a fish pond, where there are more chances to face extreme hot and extreme cold climates. In these areas the depth of the pond should between 8 ft to 12 feet, so that the fishes can get enough space to get shelter during peak summers and peak winters.
Consider these tips before to determine a good location that is suitable for your fish pond.
How to dig a site for Fish Pond:
Once the location is decided, now draw the sketches and map exact measurements and the dimensions of the pond.
Mapping can help to you to visualize the size and the design of the pond. You can also use ropes or garden hoses to draw the design of the fish pond. Once the layout is ready, now ready to dig the fish pond.
Things to be considered before digging:
- The gas pipes, electric lines, water pipes or sewerage lines should be buried below the ground.
- The roots of the big plants may be left at the bottom the pond and there are chances to grow again and occupy the tree. If digging the ponds next to big trees, make sure that the root system of the trees should take care properly to stop them growing in the pond.
Fish Farming Business Plan – Building Your Fish Farming Pond:
Digging Your Fish Farming Pond
- Depending on the size of your fish farm, if planning to dig manually using large shovels and labor, it consumes a lot of energy and a lot of time. A bobcat or excavator that is used in digging up the pond will save a good amount of time.
- Don’t dig at the top of the hole on a slope.
- While digging, it is better to dig 16 inches at once on the outer edges and place the waste soil as a pile at the backside of the pond.
- When digging in the center, start to dig deeper this helps to create an even slope in your fish pond. This will help the excavator move easily in and out of the pond easily.
- Measure the depth constantly to get the exact depth of pond that you are planning.
- To form defined edges at last and dig around the outer edge with a shovel to level it better.
Considering these tips will help you be able to dig your fish pond more successfully without hurdles.
Fish Farming Business Plan- Lining the Fish Pond:
Once the fish pond is dug, line it up with a rubber liner or a tarp. This tarp or liner used in fish ponds should be suitable for fish ponds so that is doesn’t harm the fishes. Before laying the trap at the bottom first make a thin layer of sand across the surface area of the hole to reduce the tears.
And to protect this liner or trap you can also use some geotextile fabric that protects runner liner from getting damaged. The main reason for using a trap is it protect the water from seeping out into the surrounding lands. If trap not used water should be supplied constantly into the pond to maintain the water level in the fish pond. Otherwise, you need to fill the pond with to maintain the water level.
Ponds can be sealed without rubber liners or traps, these are also many other best and cheapest options other than liner or traps. But this process depends on your soil type and the clay content of the soil. Even you can get a sell sodium bentonite clay that is used as a pond sealer.
Even there are many sustainable traditional pond liners that are worth safe for using. We also use polyethylene with ethanol-based plastics which is better than fossil-fuel based plastic liners.
If you are using a rubber liner or tarp at the bottom, it is a good idea to start to place it from the center of the pond. The size of the traps or liner depends on the size of the ponds, order a sufficient number of liner that can cover a complete pond area.
Next is filling the Pond With Water:
- Once the pond is fitted with the liner or trap, then place a big stone at the center of the pond, this protects liner or traps from lifting and floating when water level falls.
- Filling up the pond depends on the size of the pond. Water should be filled from the side, so that it will help trap to conform slowly to the weight of the water. And place stones at the outer edge liners, that helps liners or traps from falling as the amount of water increases.
- If you are not using pumping system, then fill the pond with fish. Fish need oxygenated water to live and stay healthy. Place the running hose in water to generate oxygen in water, water should be oxygenated 2 to 3 times in a week and time duration should be 15 to 30 minutes.
Fish Farming Business Plan – How to Introduce fish into the fish pond:
While introducing fish into pond, fish make water to settle completely, so that dirt gets settled completely. Now mix fishes slowly in the fish pond water in a bucket water first for 10 to 15 minutes that will help the fish to acclimatize to the new water PH levels.
Now slowly tip the fish into the fish ponds. Minimizing the stress levels in the fish will increase the rate survival and make to adjust new environment quickly.
Don’t make mistake by adding all the fishes at once, add in small amounts and check wait for 2-3 weeks. If the maximum number of fishes is alive, then add remaining fishes.
If you see more dead fish, them check with cause, before adding remaining fishes. The pH levels in the soil can cause death of fishes, some fishes require a set PH level to survive in. If the pH level is under control, check with an expert to address the exact problem.
Fish Farming Business Plan – Fish Feed in Fish Farming Business:
Feeding is the main part in the fish farming business. Fish needs good and nutritious feed for proper growth and survival. Feed management plays a key success in fish farming business. The feed should be well balanced, nutritious feed which includes protein, carbohydrate, fat, vitamins, minerals and water. The moss or aquatic insects are considered as a natural feed that in available in that pond, which not sufficient for all the fishes. These natural feeds consumed by the fish during early stages. Some fertilizers are available that produces natural feed in the ponds, but these are not recommended. Along with natural feeds, supplementary feed ensures the fast growth of fish. So, for a commercial fish farming business, we must use supplementary feeds to increase production of fish in short span of time.
Fish Farming Business Plan – Different Types of Fish Feed:
There are two different types of fish feed. One is Natural feed and other is supplementary feed.
Natural Fish Feed
The natural fish feed is which grows naturally in the pond, this feed increases the natural fertility of soil and water and this feed can be developed in pond by applying fertilizer is called a natural feed of fish. Natural feed is the main and the best feed for surviving of fish at early stages. Below are some natural feeds for fishes that should be available in the pond.
- Wolffia, eichhornia, pistia, lemna
- Tiny aquatic insects
- Rotted part of animal and plants
- Basal organic elements
- Varieties of grasses like napier, para etc.
Supplementary Fish Feed
Along with natural feed we should also provide some supplementary food for fishes for a healthy growth. As the natural feed available may not be sufficient when they grow bigger. These supplementary feeds which we provide for the fishes are called supplementary fish feeds. Supplementary fish feeds are available in the market or you can prepare yourself.
Supplementary Fish Feeds:
- Refined pulse and wheat roughage
- Mustard or sesame cake
- Fish-meal (fish powder)
- Silk kit meal
- Blood and excreta of bird or animal
- Green leaves of various vegetables
- Minerals and vitamins
- Kitchen leftovers
- Maize powder and refined chaff
- Dried molasses, etc.
How to store the Fish Feed:
- Low moisture fish feed and dry pellet feeds are stored only for two to three months, and these should be stored in a dark cool and dry place.
- High moisture feed and moist pellet feed can be stored for a one week, store them in a freezer, if that facility is not available, use them as soon you buy the feed.
- The Powdery fish feed will pollute water if left in the water for a long time. They should be cleaned regularly.
Fish Farming Business Plan – Marketing Plan in Fish Farming Business Plan:
A successful approach in developing a business plan for fish farming, there are important components to consider before you develop a marketing plan. Below is some feature to consider in fish marketing.
- Fish Market Trends
As the many marketing reports all over the world, the global fisheries and aquaculture production was more than 300 million tonnes by the end of this year. So, by checking the huge demand for fish has increased the fish farming business all over the world. The global aquaculture industry has created the waves for profits in these years. The commercial fish farming has been being increased day by day to meet the demand of the market.
As the people are influenced by the nutritional value of seafood, which increased the demand in all parts of the world. And USA is the largest consumer of fish and the China comes the next. And 90% of fish consumed in the USA are imported from other countries. This shows the potential of fishes in the international market.
But the most interesting facts is that over 90% of the seafood consumed in the US is imported from other countries around the world. That is why the fish farming industry has a lot of potential in the US and can be immensely profitable if you plan it successfully.
- Marketing Segmentation
In a successful fish marketing plan, the customers or consumers or clients are differentiated into different types.
- Individual clients:
In this you can open a small retail outlet in your farming area in the early stages to grab attention of local people. This mainly targets individual buyers, people will be easily attracted by the fresh and natural fish.
- Departmental Stores or super Market or Meat Stores:
Contact with the nearby departmental stores or supermarkets or meat stores and make a contract with them for supplying the fresh farmed fish. These departmental stores are the best source to market the fishes that can earn good amount of profits.
- Restaurants and Hotels:
Make a contract with the surrounding restaurant and hotels who need fishes on a regular basis throughout the year. The restaurants and hotel are the potential clients after the departmental stores.
Make a detailed study of the market where you can find the potential clients.
- Set a Business Target:
Aim the top is the best formula in a fish farming business. Set the business targets with a time limit that should be achieved in a certain amount of time.
- Balance the investment cost with earned profits by the end of the first year.
- And try to achieve the 10% net profit margin per month by the end of the first year, and 15% of net profits per month by the end of the second year, and 25% net profits per month by the end of the third year. This plan will keep you safe in your fish farming business.
How to Give Price for your fish:
Before setting the price considering the market demands, give the price like the price of all your competitors. The main reason in pricing policy is to attract customers, the minimum attractive rate will keep your business at safer zone at the early stages of business. Don’t give too low prices that give you loss.
Fish Farming Business Plan- Quick Tips to be noticed in a Fish Farming Business Plan:
- Make sure that the fish farm site should have a constant water supply.
- Make sure that the water temperature is optimal for the fish species reared or not.
- Make an easy access to the pond for feeding and harvesting.
- Test the water before you start fish farming both chemical and bacteriological.
- Learn about the modern technical method of risk assessment and as well as risk management.
- Find the qualified suppliers for fish eggs, fingerlings and fish feed which is very crucial in the fish farming business.
- Legal compliance and permission should be fingered out before starting a fish farming business in your locality.
- The site should have a good transport facility, that shows good impact on marketing your products and purchasing necessary commodities from the market.
- Take necessary suggestion from experts or the people who are in the same profession in building up your business.
Read Mud Crab Farming .
Read tilapia fish farming ., 25 comments.
I need a supplier of material for pond lining in Uttar Pradesh or nearby
I have passed M. Sc Zoology with fish & Fisheries and now I want to know fish farm project details.
Check this: RAS Fish Farming Project Report .
I want to start a fish farming business without equipment
I need a consultant for fish farming to start a fresh farm project. I need a person who can help prepare a business plan and end to end advice before , during and after the project
Can you please send me your quote for the same
I want to start fish farming business in navi mumbai, who can guide me on this ?
I want to start fish farming, Hence theres still a lot for me to learn and how can I embark in this journey. I’ll be happy if thers someone who can help from their goodness of their heart.
> How many baby fish of Catla/Rohu/Mrigel of 50 grams each ( in combination of 30:40:30) can be reared for 3 years in a 6 Bigha pond with6 to 6 to 7 ft water depth in eastern fringe of Kolkata? > Planning to sale 50% of first year’s stock in the 2nd year and the balance 50% of first year’s stock in the 3rd year .Full stock of first year would again be stocked in the 2nd,3rd,4th year and so on so that the process continues? > Average good feed cost per month for the suggested quantity just to ensure that the baby fish grows to at least 1 kg/2 kgs and 3 kgs in first,2nd and 3rd year respectively. > What would be best hatcheries in and around Kolkata wherefrom the best baby fish of 50 grams each could be obtained ? > What could be price per unit of 50 grams per 1000 pcs?
Shall be thankful,if the said information is provided to me at the earliest.
I wish to start a catfish farming in the northern Namibia, I m looking for an investor or anyone to partner up with me,
I want to start a fish farming business in sivagangai( tamil nadu), who can guide me on this?
Are u started ur fish farming..if u started means …plzz guide me ….tell some information .I am from Madurai (tamilnadu).I wish to start a fish farming business.so plz guide me with ur knowledge
I want to start a fish farming in Bayelsa State, Nigeria, please I need someone to guide me by helping me build the ponds and guiding me through the preliminary stages, thanks
I want a complete manual for this type of fishing. Mpika, Zambia.
want start pond fish farming in malawi, looking for guidance manual
Hello, I want to start pond fish farming in Afghanistan, i want complete manual and a sample of business plan in soft please. Thanks
I too is a student in uganda studying agriculture and I am very happy to learn and share experiences with every body many time I will ask questions and I may think you will help me iam very glad for joining this flat form
I wish to start a fish pond farming in Cameroon,I need guidance on how to go about it;will be grateful if I can have a manual on the plan and processing.
I would like to start a fish farm in ernakulam,kaloor area.please let me know who can help me in this area. I like to see one fish farm in this area.
I want info about fish farming I am from Nagpur Maharashtra
I’m writing to everyone willing to support me in this, I can do it without any problems, I have good land, natural water, easy transport and even the market.
Thank you. loved your article. It was really helpful for my business. Wish to see more in coming days.
I want to start fish farming or mud crab farming…Where I will get the training for this business.
I want to start fish farming in Lonavla for personal use, can someone guide and help with end to end process.
I’m looking for investors in Ghana
Wanted to start sea fish farm in Tanzania need someone to guide me
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Home » Business ideas » Agriculture Industry » Livestock Farming » Fish Farming
How to Write a Fish Farming Business Plan [Sample Template]
Are you about starting a fish farming business ? If YES, here is a complete sample fish farming business plan template & feasibility report you can use for FREE . Fish farming is a very lucrative business. It has been in existence for a very long time and more and more people have found it a very good means of livelihood. One of the unique things about the fish farming trade is that you have the opportunity to rear fishes and watch them grow from tiny to big enough to be traded with.
This business isn’t so capital intensive, however it requires that one garners a good skill in the trade so that one can apply expertise in the business and not lose money at a slightest mistake. Much more than the skills to be garnered there is the business plan that needs to be written. Business plans help you to decipher how a business is really being run. Here below is a sample fish farming business plan;
A Sample Fish Farming Business Plan Template
Table of Content
1. Industry Overview
3. our products and services, 4. our mission and vision statement, 5. job roles and responsibilities, 6. swot analysis, 8. our target market, our competitive advantage, 9. sales and marketing strategy, 10. sales forecast, 11. publicity and advertising strategy, 12. our pricing strategy, 14. sustainability and expansion strategy.
The agricultural industry of which Fish and Seafood Aquaculture business is a subset of is no doubt among the leading industry in most countries of the world; it is the industry that produces fish and seafood for the populace.
Because of the significant role the agriculture sector plays, the government of most countries ensures that they go all the way to subsidize seedlings, fertilizers, and farming implements and machinery for farmers and also encourage entrepreneurs to go into commercial farming (fish farming inclusive).
The Fish and Seafood Aquaculture industry comprises of businesses that farm aquatic animals or plants in controlled aquatic environments. Businesses in this industry make use of some form of intervention in the rearing process to enhance production, such as holding in captivity and protecting from predators, pests and disease.
It is important to state that this industry does not including the fishing and harvesting of wild fish and shellfish especially on the high sea. A study conducted by IBISWORLD shows that the Fish and Seafood Aquaculture industry has indeed experienced slow growth over the last five years.
Given that the vast majority of the revenue generated in the industry is derived from sales of fish, mollusks and crustaceans that will be processed into food products, this industry’s success is tied to levels of seafood consumption. Per capita seafood consumption in the united states has declined over the last five years, putting strain on businesses in this industry.
Nonetheless, increases in the price of seafood, combined with a healthy export market, have boosted the revenue growth in this industry. The revenue generation from The Fish and Seafood Aquaculture industry is projected to grow at an annualized rate of 0.3 percent to $1.5 billion over the five-year period.
The Fish and Seafood Aquaculture industry is indeed a very large industry and pretty much thriving in all parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Portugal Germany, Australia and the Caribbean et al.
Statistics has it that in the United States of America alone, there are about 2,087 licensed and registered Fish and Seafood Aquaculture company directly responsible for employing about 10,440 employees and indirectly responsible for employing roughly 1,339,900.
The industry rakes in a whooping sum of $1billion annually with an annual growth rate projected at 0.3 percent. It is important to state that there are no establishments with a lion share of the available market in this industry. If you are looking towards leveraging on the agriculture industry to generate huge income, then one of your best bet is to start a fish and seafood aquaculture business.
One thing is certain about starting fish and seafood aquaculture business, if you are able to conduct your market research and feasibility studies , you are more likely not going to struggle to sell your fish and seafood because there are always food processing companies and consumers out there who are ready to buy from you.
2. Executive Summary
St. Vincent Fish and Seafood Aquaculture, LLC is a world – class and licensed Fish and Seafood Aquaculture Company that will be based in a riverine area in Columbia, South Carolina – United States. We have done our detailed market research and feasibility studies and we were able to secure a hundred hectares of land to start our fish and seafood aquaculture business.
Our fish and seafood farm is going to be standard fish and seafood farm hence will be involved in raising and harvesting finfish (e.g. catfish, trout, tilapia and minnows), raising and harvesting shellfish (e.g. clams, oysters, crustaceans, mollusks and shrimp), raising and harvesting ornamental fish (e.g. goldfish and tropical fish), raising and harvesting aquaculture species to augment or replenish wild habitats, and raising and harvesting other aquaculture (e.g. seaweed, alligators, frogs and turtles) et al.
We are in the Fish and Seafood Aquaculture industry because we want to leverage on the vast opportunities available in the agriculture industry, to contribute our quota in growing the U.S. economy, in national food production, and also to fish and seafood from the United States to other countries and over and above to make profit.
St. Vincent Fish and Seafood Aquaculture, LLC is well positioned to become one of the leading fish and seafood farming business in the United States of America, which is why we have been able to source for the best hands and machines to run the company with.
We have put process and strategies in place that will help us employ best practices when it comes to fish and seafood farming processes as required by the regulating bodies in the United States of America. At St. Vincent Fish and Seafood Aquaculture, LLC, our customer’s best interest will always come first, and everything we do will be guided by our values and professional ethics.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
St. Vincent Fish and Seafood Aquaculture, LLC is a private registered fish and seafood farming company that is owned by Vincent Denis and his immediate family members.
The fish and seafood farm will be fully and single handedly financed by the owner – Vincent Denis and his immediate family members at least for a period of time. Vincent Denis studied Fishery and he has well over 10 years of hands on experience in the fish and seafood aquaculture industry.
St. Vincent Fish and Seafood Aquaculture, LLC is a standard fish and seafood farming company that is committed to raising fish and seafood for both the United States’ market and the global market. We are in the fish and seafood to make profits and we are going to do all we can to achieve our business goals, aim and objectives.
These are the areas we will concentrate on in our fish and seafood farming business;
- Raising and harvesting finfish (e.g. catfish, trout, tilapia and minnows)
- Raising and harvesting shellfish (e.g. clams, oysters, crustaceans, mollusks and shrimp)
- Raising and harvesting ornamental fish (e.g. goldfish and tropical fish)
- Raising and harvesting aquaculture species to augment or replenish wild habitats
- Raising and harvesting other aquaculture (e.g. seaweed, alligators, frogs and turtles)
- Our Vision is to become one of the leading fish and seafood farm brands not just in the United States of America but also on the global stage.
- St. Vincent Fish and Seafood Aquaculture, LLC is a world class and registered fish and seafood farming company that is committed to raising fish and seafood for both the United States’ market and the global market. We want our fish and seafood to flood the nooks and crannies of the United States and other countries of the world.
Our Business Structure
St. Vincent Fish and Seafood Aquaculture, LLC is a privately owned and managed fish and seafood business that intend starting small in fishing community in Columbia – South Carolina, but hope to grow big in order to compete favorably with leading fish and seafood farming companies in the industry both in the United States and on a global stage.
We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.
At St. Vincent Fish and Seafood Aquaculture, LLC, we will ensure that we hire people that are qualified, hardworking, and creative, result driven, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Operating Officer
General Fish and Seafood Farm Manager
Human Resources and Admin Manager
- Accountant / Cashier
- Sales and Marketing Executive
- Field Employees
- Front Desk Officer
Chief Executive Officer – CEO:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for the planning, management and coordinating all farm activities across the various sections on behalf of the organization
- Supervises other section manager
- Ensures compliance during project executions
- Provides advice on the management of farming activities across all section
- Responsible for carrying out risk assessment
- Using IT systems and software to keep track of people and progress of the growth of fish and seafood in our ponds
- Responsible for overseeing the accounting, costing and sale of fish and seafood farm produce
- Represents the organization’s interest at various stakeholders meetings
- Ensures that farming goals desired result are achieved, the most efficient resources (manpower, equipment, tools and chemicals et al) are utilized and different interests involved are satisfied.
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Oversees the smooth running of the daily office.
Accountant / Cashier:
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for St. Vincent Fish and Seafood Aquaculture, LLC
- Serves as internal auditor for St. Vincent Fish and Seafood Aquaculture, LLC.
Sales and Marketing Manager
- Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Model demographic information and analyze the volumes of transactional data generated by customer
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Creates new markets cum businesses for the organization
- Empowers and motivates the sales team to meet and surpass agreed targets
Field Workers / Contract Staff
- Responsible for feeding fish and seafood as instructed by the supervisor
- Responsible for cleaning the ponds and the entire fish farm environment
- Changes the water in the pond as instructed by the supervisor on a regular basis
- Handles fish and seafood farm implements and machines (hatchery) as instructed by the section manager / supervisor
- Responsible for raising and harvesting finfish (e.g. catfish, trout, tilapia and minnows)
- Responsible for raising and harvesting shellfish (e.g. clams, oysters, crustaceans, mollusks and shrimp)
- Responsible for raising and harvesting ornamental fish (e.g. goldfish and tropical fish)
- Responsible for raising and harvesting aquaculture species to augment or replenish wild habitats
- Responsible for raising and harvesting other aquaculture (e.g. seaweed, alligators, frogs and turtles)
- Carries out task in line with the stated job description
- Assists in transport working tools and equipment from the fish and seafood farm and back to the designated store room
- Handles any other duties as assigned my the line manager
Front Desk / Customer’s Service Officer
- Welcomes clients and potential clients by greeting them in person, online or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the creative director in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
St. Vincent Fish and Seafood Aquaculture, LLC do not intend to launch out with trial and error hence the need to conduct a proper SWOT analysis.
We know that if we get it right from the onset, we would have succeeded in creating the foundation that will help us build a standard fish and seafood farming company that will favorably compete with leading players in the Fish and Seafood Aquaculture industry in the United States of America and in the rest part of the world.
We engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured fish and seafood farming company that can favorably compete in the highly competitive fish and seafood aquaculture industry in the United States and the world at large.
Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for St. Vincent Fish and Seafood Aquaculture, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of St. Vincent Fish and Seafood Aquaculture, LLC;
Our strength as a fish and seafood farming company is the fact that we have healthy relationships with loads of major players (agriculture merchants) in the industry; both suppliers of fish and seafood feeds and medications and buyers of fish and seafood within and outside of the United States of America.
We have some of the latest fish farming hatchery, tools and equipment that will help us raise and produce fish and seafood in commercial quantities with less stress. Aside from our relationship (network) and equipment, we can confidently boast that we have some the most experienced hands in Columbia – South Carolina in our payroll.
Our weakness could be that we are a new fish and seafood farming company in the United States, and perhaps it might take us sometime to attract big time customers in the industry. We are aware of this and from our projection will overcome this weakness with time and turn it to a major advantage for the business.
- Opportunities:
The opportunities that are available to us as a standard and world – class fish and seafood farming company cannot be quantified, we know that there are loads of households, and businesses such as hotels and fast food restaurants that can’t do without daily supply of fresh water fish and seafood. We are well positioned to take advantage of this opportunity
Some of the threats and challenges that we are likely going to face when we start our own fish and seafood farming company are global economic downturn that can impact negatively on household spending, bad weather cum natural disasters (draughts, epidemics), unfavorable government policies and the arrival of a competitor within same location.
There is hardly anything you can do as regards this threats and challenges other than to be optimistic that things will continue to work for your good.
7. MARKET ANALYSIS
- Market Trends
The Fish and Seafood Aquaculture industry has greatly benefited from campaigns advertising the health benefits of fish and seafood as a good source of protein. The vast majority of the revenue generated in the industry is derived from sales of fish, mollusks and crustaceans that will be processed into food products; this industry’s success is tied to levels of seafood consumption.
Per capita seafood consumption in the united states has declined over the last five years, putting strain on businesses in this industry. Nonetheless, increases in the price of seafood, combined with a healthy export market, have boosted the revenue growth in this industry. The revenue generation from The Fish and Seafood Aquaculture industry is projected to grow at an annualized rate of 0.3 percent to $1.5 billion over the five-year period.
As a matter of fact, one of the new trends is that with the recent advancement in technology, fish and seafood farmers can now comfortably predict and produce the quantities of fish and seafood they want to produce per time from their hatchery.
Naturally, the target market of those who are the end consumer of fish and seafood and also those who benefits from the business value chain of the fish and seafood aquaculture industry is all encompassing; it is far – reaching.
Every household consumes produce from fish and seafood farms be it finfish (e.g. catfish, trout, tilapia and minnows), shellfish (e.g. clams, oysters, crustaceans, mollusks and shrimp), ornamental fish (e.g. goldfish and tropical fish), and other aquaculture (e.g. seaweed, alligators, frogs and turtles). So also almost all hotels and fast restaurants sell fish and seafood.
In essence a fish and seafood farmer should be able to sell his or her farm produce to as many people as possible. In view of that, we have positioned our business to attract consumers of fish and seafood not just in the United States of America alone but also other parts of the world.
We have conducted our market research and survey and we will ensure that we meet and surpass the expectations we set for the business. Below is a list of the people and business that we will market our fish and seafood to;
- Individuals
- Restaurants
- Fast food eateries
- Agriculture merchants
It is easier to find entrepreneur flocking towards an industry that is known to generate consistent income which is why there are increase number of fish and seafood farmers in the United States of America and of course in most parts of the world.
For example, Statistics has it that there are 2.2 million farms in the United States of America, covering an area of 922 million acres. These goes to show that there are appreciable numbers of farmers in the United States of America but that does not mean that there is stiffer competition in the industry.
As a matter of fact, entrepreneurs are encouraged by the government to embrace commercial farming cum fish and seafood farming business. This is so because part of the success of any nation is her ability to cultivate her own food and also export foods to other nations of the world.
St. Vincent Fish and Seafood Aquaculture, LLC is fully aware that there are competitions when it comes to selling fish and seafood all over the globe, which is why we decided to carry out thorough market research so as to know how to take advantage of the available market in the United States and in other parts of the world.
We have done our homework and we have been able to highlight some factors that will give us competitive advantage in the marketplace; some of the factors are effective and reliable fish and seafood farming processes that can help us sell our produce at competitive prices, good network and excellent relationship management.
Another competitive advantage that we are bringing to the industry is the fact that we have healthy relationships with loads of major players (agriculture merchants) in the industry; both suppliers of fish and seafood feeds and medications and buyers of fish and seafood within and outside of the United States of America.
We have some of the latest fish and seafood farming hatchery, tools and equipment that will help us raise fish and seafood in commercial quantities with less stress. Aside from our relationship (network) and equipment, we can confidently boast that we have some the most experienced hands in Columbia – South Carolina in our payroll.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups fish and seafood farming companies in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
- Sources of Income
St. Vincent Fish and Seafood Aquaculture, LLC is in the fish and seafood aquaculture industry for the purpose of maximizing profits hence we have decided to explore all the available opportunities within the industry to achieve our corporate goals and objectives. Below are the sources we intend exploring to generate income for St. Vincent Fish and Seafood Aquaculture, LLC;
From the studies and the survey conducted, we were are able to discover that the sales generated by a fish and seafood farming business depends on the size of the fish and seafood farm, the types of fishes and seafood available in the fish and seafood farm and of course the size of their marketing network.
- First Fiscal Year-: $250,000
- Second Fiscal Year-: $600,000
- Third Fiscal Year-: $900,000
N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown that can impact negatively on household spending, bad weather cum natural disasters (draughts, epidemics), and unfavorable government policies
- Marketing Strategy and Sales Strategy
We are quite aware that the reason why some fish and seafood farming companies hardly make good profits is their inability to sell off their fish and seafood as at when due. Our sales and marketing team will be recruited based on their vast experience in the fish and seafood aquaculture industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of St. Vincent Fish and Seafood Aquaculture, LLC.
Over and above, we have perfected our sale and marketing strategies first by networking with agriculture merchants and businesses that rely on daily supply of fish and seafood that are likely to become our customers. In summary, St. Vincent Fish and Seafood Aquaculture, LLC will adopt the following strategies in marketing our fish and seafood;
- Introduce our business by sending introductory letters alongside our brochure to stake holders in the agriculture industry, households, hotels and restaurants and agriculture produce merchant et al.
- Advertise our business in agriculture and food related magazines and websites
- List our business on yellow pages ads
- Attend related agriculture and food expos, seminars, and business fairs et al
- Leverage on the internet to promote our business
- Engage in direct marketing
- Encourage the use of Word of mouth marketing (referrals)
Any business that wants to grow beyond the corner of the street or the city they are operating from must be ready and willing to utilize every available means (both conventional and non – conventional means) to advertise and promote the business. We intend growing our business which is why we have perfected plans to build our brand via every available means.
We know that it is important to create strategies that will help us boost our brand awareness and to create a corporate identity for our fish and seafood farming business. Below are the platforms we will leverage on to boost our fish and seafood farming brand and to promote and advertise our business;
- Place adverts on community based newspapers, radio stations and TV stations.
- Encourage the use of word of mouth publicity from our loyal customers
- Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
- Ensure that our we position our banners and billboards in strategic positions all around Columbia – South Carolina
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Contact corporate organizations, households, landlord associations and schools by calling them up and informing them of St. Vincent Fish and Seafood Aquaculture, LLC and the fish and seafood we sell
- Advertise our business in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.
Some of the factors that will help you sell your farm produce at the right price that will guarantee that you make profits is dependent on your strategy while some of the factors are beyond your control. For example, if the climatic condition is unfavorable and if there is natural disaster in the location where you have your fish and seafood farm, then it will directly affect the prices of your fish and seafood.
Over and above, if you want to get the right pricing for your fish and seafood, then you should ensure that you choose a good location for the fish and seafood farm, choose a good breed that will guarantee bountiful harvest, cut the cost of running your fish and seafood farm to the barest minimum and of course try as much as possible to attract buyers to your fish and seafood farm as against taking your fish and seafood to the market to source for buyers; with this, you would have successfully eliminate the cost of transporting the goods to the market and other logistics.
We are quite aware that one of the easiest means of penetrating the market and acquiring loads of customers for all our fishes and seafood is to sell them at competitive prices hence we will do all we can to ensure that the prices of our fish and seafood are going to be what other fish and seafood farmers would look towards beating.
One thing is certain; the nature of fish and seafood farming business makes it possible for fish and seafood farmers to place prices for their fish and seafood based on their discretion without following the benchmark in the industry. The truth is that it is one of the means of avoiding running into loss.
- Payment Options
The payment policy adopted by St. Vincent Fish and Seafood Aquaculture, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that St. Vincent Fish and Seafood Aquaculture, LLC will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via check
- Payment via mobile money
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for fishes and seafood.
13. Startup Expenditure (Budget)
When it comes to calculating the cost of starting a fish and seafood farm, there are some key factors that should serve as a guide. The different types of fishes and seafood to be raised in the fish and seafood farms determine the total cost of setting up the business.
Besides, in setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a fish and seafood farming business; it might differ in other countries due to the value of their money.
Below are some of the basic areas we will spend our start – up capital in setting up our fish and seafood farm;
- The Total Fee for incorporating the Business (commercial farm) in United States of America – $750.
- The amount needed to acquire / lease a fish farm land – $50,000
- The amount required for preparing the farm land (fish ponds and fresh water supply et al) – $30,000
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
- Marketing promotion expenses for the grand opening of St. Vincent Fish and Seafood Aquaculture, LLC in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
- The total cost for hiring Business Consultant – $2,500.
- The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400
- The amount required for the purchase of the first set of fishes and seafood (fingerlings) – $10,000
- The cost for acquiring the required working tools and equipment / machines / hatchery et al– $50,000
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
- The Cost of Launching an official Website – $600
- Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,000
Going by the report from detailed research and feasibility studies conducted, we will need an average of $500,000 to start a standard fish and seafood farming business in the United States of America.
Generating Funding / Startup Capital for St. Vincent Fish and Seafood Aquaculture, LLC
No matter how fantastic your business idea might be, if you don’t have the required money to finance the business, the business might not become a reality.
No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through. St. Vincent Fish and Seafood Aquaculture, LLC is a family business that is solely owned and financed by Vincent Denis and his immediate family members.
They do not intend to welcome any external business partners, which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources. These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $150,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $350,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting St. Vincent Fish and Seafood Aquaculture, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to retail our fishes and seafood a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
St. Vincent Fish and Seafood Aquaculture, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check:>Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of farm land and building of standard fish ponds: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Compilation of our list of products that will be available in our store: Completed
- Establishing business relationship with vendors – key players in the industry: In Progress
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