Executive Summary of a Fish Farming Business Plan
The fish farming industry is a thriving one where a lot of opportunities for investment are available. This has attracted the attention of entrepreneurs, and in order to establish a thriving fish farming business, a good fish farming business plan is necessary.
A vital section of this document is the fish farming business plan executive summary section, which summarizes the entire document. This is the most viewed part by investors due to its important.
We would pay a close look at this section in this article.
The Executive Summary
Gold fish Cichlid farmers is a specialty fish farming company. In Gold fish we provide our customers with the unique opportunity to own rare breeds of brightly colored fish for their aquariums which normally they cannot get in their local pet stores. Gold fish cichlid has carried out an extensive market research and identified a niche to occupy which is ornamental fish farming.
At Cichlid we cultivate and breed various types of hard to find exotic tropical fish species. We then advertize our special collection of fish. Our clients place their orders from any part of the United States and we ship our live fish right to their door steps within a short time. We are also the major suppliers of a wide variety of rare breeds of tropical fish to local retailers in the local market place.
As mentioned earlier, convenience and variety are our strong points. Yes our aim is not just to provide variety but also to get your most desired products to you in the most convenient way. Our marketing model takes special consideration on pricing, variety and convenience as key marketing success factors for Cichlid. To run successfully as a business we have acquired several assets to enable us conduct business successfully.
Among our assets there are several watering troughs, automated feeders, and insulated fish tanks to control temperature of water for the fish. Also we have special water heaters to provide optimum tropical conditions for our fish, and also special display aquariums for customers to be able to view the different species of fish and make a choice of what to buy. This is not to mention the facility we are housed in which sits on ten hectares of land.
Gold fish Cichlid is a sole proprietorship, founded by Dr. Alex lawless. Alex is both the founder and chief executive officer of Gold fish Cichlid. Dr. Alex has been running this farm successfully for the past three years and now wants to expand due to rapid increase in demand in Our Gold Fish varieties. He intends to achieve that by partnership. By partnership it means he will be selling part of the business as equity.
The Cichlidae are a family of brightly colored tropical fish which are very active and aggressive by nature. These rare species of fish are greatly sought after by clients to keep as pets. At Gold Fish Cichlid, we will be cultivating about thirty different species of this fish family. Apart from breeding these rare tropical fish, Gold Fish Cichlid also offers the services of importation of rare tropical fish which do not normally breed in captivity.
As our business continuous to grow, we plan to expand our collection of rare to find tropical fish to include several very species such as the American cat fish among other more common tropical cichlid species. However, in our marketing plan we intend to only sell our products only within the United States of America. Due to the nature of our business and our marketing model, we have come to the conclusion that it is going to be much more cumbersome to export our fish all over the world.
Though it is not completely ruled out, we envisage a possibility of expanding our frontiers to a global scale as our business grows. In the continental United States, the most popular hobby is photography. It has been researched that, fish farming is next to photography in popularity in the US. About forty percent of internet users in the United States have aquariums.
Conservatively, it is estimated that the number of internet users will increase by 5%by the end of the year and these users will visit our site and buy fish for their aquariums. Due to the fact that most people cannot purchase the type cichlid fish species directly on the retail market. Therefore Gold fish cichlid fills this gap by making available to users a wide variety of rare tropical fish collections.
We also make provisions for the fish to the transported conveniently to their customer at their door steps within a short time. A lot of clients prefer visiting our sight to browse through our catalogue of different varieties of fish and then place an order. It cannot be over emphasized the fact that our wide range of attractive tropical cichlid fish species cannot be found anywhere else therefore we tend to enjoy some degree of monopoly in this segment of the fish industry.
Source of Revenue
As you know over and all, our goal is to make profit selling rare breeds of tropical fish to consumers who will use them for pets and for ornamental purposes. Therefore we expect to have two major revenue streams. We will be generating revenue from direct sales over the internet where users visit our site and place orders.
Then secondly we will be generating revenue from sales to retail markets. We expect the bulk of our revenues to come from direct online sales to users who have aquariums and live within our shipping area. Our startup capital will include cost of facility, aquariums and watering troughs among others and this will be financed by investors or loans from banks.
Keys to Success
To build a strong business brand, we will rely strongly on effective marketing. This is because we have discovered how effective this strategy is to increased sales. Also, another area we will be involved in is the introduction of attractive remuneration packages for our employees to ensure that they are motivated to give in their very best.
This fish farming business plan executive summary sample has been given as a guide to enable the entrepreneur do a good work on his/her executive summary section, which is necessary to achieving the best results in the business plan, and by extension, the business.