This report contains a business plan for a poultry farming business. Poultry farming basically deals with the process of raising domestic birds such as chickens, turkey and ducks. The report contains a whole planning for the business including its description, form of ownership, targeted customer, objectives, SWOT, financial plan and many more.
The name of the business is Chicken Village Inc.
The business deals with the poultry farming practices such as raising chickens, geese, and ducks for the purpose of farming meat and eggs for food. The main business of the company is chicken breeding as it mostly deals with raising chickens as a source of food, for both their eggs and meat. The mission and vision of the business is to become the recognized leader in its respective industry for income of poultry and egg. The main income of the business derives from the sales of chicken to the various slaughterhouses and sale of meat and eggs to the targeted customers.
Initially, the business will be a nonprofit organization so that it can get the full government support. Later on, it will turn into a public company having more employees and high turnover ratio.
The targeted segment for the business will be those people who are non-vegetarian and who consumes eggs and meat on frequent and daily basis. These customers generally include children and the young people who are more attracted towards having variety of dishes made up of chicken and eggs. Apart from them, several slaughterhouses, chicken distributor or farmer’s market will be the client profile for the business.
The main competitive advantage of the business is using high technology for the purpose of breeding the chickens. It will result in keeping them healthy and increasing the after product quality. Various biosecurity measures will be put in place to prevent the chickens from the disease outbreaks. Another competitive advantage is that the prices will be reasonable so that customers can afford them easily. Business put more focus on maintain the health and quality of chickens and for that, in the farm animals and materials are kept away from poultry pens. The training related to biosecurity is been provided to each and every member of the staff (Salman, Dubois, Maria, Acker & Balen, 016).
Strength
One of the strength of Chicken Village is that it has healthy relationships with lots of major players in agriculture sector. The players include both supplier of poultry feeds and the customers of eggs and meat. Also the farm has some latest commercial poultry farming tools and equipment that help the business to raise and produce eggs in a reasonable quantity and quality. Apart from this, chicken Village also has experienced people in its business.
Weakness
The main weakness is that it is a new business in agriculture sector established in Canada. As a result of which, it can take more time to attract the big time customers in the industry.
Opportunities
As such the opportunities available to the business cannot be quantified but they can try their hands on loads of households such as hotels and restaurants that served fast food. The restaurants where eggs and meat are used on daily basis can prove to be a great opportunity for the business.
Threat
Certain challenges which are likely to be faced by Chicken Village Inc. are the slow growth of economy which can directly impact the consumer or household spending. Also changes in weather, natural disasters, unfavorable government policies and arrival of a competitor are some threats that can be faced by the business in a near future (Ahadiat and Hefzi, 2017).
The marketing plan for Chicken Village Inc. includes the promotion strategies followed by the business. These are:
The CEO of Chicken Village Inc. is Jeff Parker. Two directors will be giving assistant to the managers and 40 employees will be indulged in the operational process of the business. Kenneth Bezos and Lisa Chennault are the directors of Chicken Village Inc.
Some people will be involved in the looking after of the chickens and other animals and the related work such as feeding them timely and taking care of them on a regular basis. Other people will look after the eggs and the meat produced by them ensuring that the quality and quantity is been maintained. Some employees are engaged in value chain activities of the business.
Employees will get monthly salary for the services rendered by them during a fiscal year. Owner will have a share in the profit earned by the business. Apart from salary, various incentive plans and compensation benefit plans are also been made by the business in respect of its employees and owner.
The IT resources are been imported from USA. The machines used in the business are:
The agriculture services which are required by Chicken Village Inc. are Poultry farming services, Poultry consultancy services, and farm and egg services.
Building rent: $20,000
Land = $30,000
Equipment = $15,000
Utilities = $5,000
Salaries = $25,000
Supplies= $5,000
Marketing and Promotion = $25,000
Insurance = $5,000
The forecasted revenue for the business is $90,000 and this will be made by selling eggs and meat and other live stocks.
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Company Name: Chicken Village INC |
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INCOME STATEMENT (PROJECTED) |
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For the One Year Period Ended: (1st June to 30th May) |
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REVENUES |
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Livestock |
0 |
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Eggs and Meats |
$ 90,000.00 |
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TOTAL REVENUE |
$ 90,000.00 |
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Gross Profit |
90000 |
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EXPENSES |
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Advertising |
$ 4,000.00 |
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Benefits (employer paid) |
$ 3,000.00 |
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Chemicals |
$15,000.00 |
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Depreciation expense |
$ 4,000.00 |
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Equipment Lease |
$ 4,000.00 |
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Feeds |
$ 2,000.00 |
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Fertilizer |
$ 5,000.00 |
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Insurance |
$ 5,000.00 |
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Interest |
$ – |
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Maintenance |
$15,000.00 |
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Rent |
$ 1,000.00 |
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Salaries |
$25,000.00 |
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Supplies |
$ 5,000.00 |
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Travel |
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Utilities |
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$ 5,000.00 |
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Total Operating Expenses |
$ 98,000.00 |
$ 5,000.00 |
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NET PROFIT |
$ -8,000.00 |
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Net Before Income Tax |
$ -8,000.00 |
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Company Name: Chicken Village INC |
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Balance Sheet (1st June- 30th May, 2018) |
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ASSETS |
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Current Assets |
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Cash |
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$ 15,000.00 |
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Accounts Receivable |
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$ 90,000.00 |
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Inventory/supplies |
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$ 30,000.00 |
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Prepaid Expenses |
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$ 20,000.00 |
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Other Current Assets |
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$ 50,000.00 |
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Total Current Assets |
$ 205,000.00 |
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Fixed Assets |
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Land and Buildings |
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$ 30,000.00 |
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Fixtures |
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$ 5,000.00 |
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Equipment |
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$ 15,000.00 |
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Vehicles |
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$ 15,000.00 |
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Other Fixed Assets |
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$ 30,000.00 |
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Total Fixed Assets. |
$ 95,000.00 |
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Total Assets |
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$ 300,000.00 |
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LIABILITIES |
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Current Liabilities |
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Accounts Payable |
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$ 20,000.00 |
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Short-term Loans Payable |
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$ 15,000.00 |
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Taxes Payable |
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$ 15,000.00 |
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Other Current Liabilities |
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$ 5,000.00 |
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Total Current Liabilities |
$ 55,000.00 |
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Long-Term Liabilities |
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Mortgage Payable |
$ 10,000.00 |
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Long-term Loans Payable |
$ 50,000.00 |
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Other Long-term Liabilities |
$ 15,000.00 |
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Total Long-term Liabilities |
$ 75,000.00 |
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Total Liabilities |
$ 130,000.00 |
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OWNERS’ EQUITY |
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Capital Investment |
$ 75,000.00 |
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Retained Earnings |
$ – |
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Total Equity |
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$ 75,000.00 |
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Total Liabilities and Equity |
$ 205,000.00 |
The business will raise funds by taking loan from bank amounted to $50,000 and $15,000. The amount of $75,000 will be bring by the owner as a capital in the business. Lease financing and hire purchase methods will be used for financing the assets.
References
Ahadiat, N. and Hefzi, H., (2017). The Story of a Business Formation and its Failure.
Lassen, M., (2015). DESMI lifts green ship business case. World Pumps, 2015(12), pp.16-18.
Salman, M., Dubois, M., Maria, A.D., Acker, K. and Balen, K., (2016). Construction materials from stainless steel slags: technical aspects, environmental benefits, and economic opportunities. Journal of Industrial Ecology, 20(4), pp.854-866
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