A business plan is a document that illustrates a possible new company’s feasibility and sets out a strategy for its first few years of operation. Business plans are necessary for the creation of new firms, whether they are start-ups or spin-offs from larger corporations. A business plan is a written statement of a company’s goals, the reasons for obtaining them, and the techniques for accomplishing them. It might also provide background information about the firm or team that is pursuing those goals. Business tactics may be centered on shifting customer, client, taxpayer, or community perceptions and branding. A 3 to 5 year business plan is essential when a current firm is to undergo a big shift or when establishing a new endeavor, since investors will be looking for a return on their investment in that period. A set of papers developed by a company’s management to outline and explain how it will reach its operational and financial goals in the near future (typically one to three years). It acts as a template for the firm’s policies and initiatives, and it is updated on a regular basis. A bundle of documents written by a company’s management to explain and show how it plans to meet its operational and financial objectives in the near future (typically one to three years). It serves as a model for the company’s policies and strategies, and it’s updated when circumstances change and new possibilities and/or threats arise. When published for an external audience, it covers the firm’s past, current, and future performance (lenders, prospective investors). To demonstrate how the proposed investment might affect the company’s financial status, a pro-forma balance sheet, income statement, and cash flow statement are usually provided. When circumstances change and new opportunities and/or risks arise It covers the firm’s history, current, and predicted performance when presented for an external audience (lenders, potential investors). A pro-forma balance sheet, income statement, and cash flow statement are frequently included to show how the funding requested would influence the company’s financial condition.
THE TURKEY BIRD FARM’S BUSINESS PLAN
SUMMARY OF THE EXECUTIVE SUMMARY
This business plan is for the establishment of a farm known as “TURKEY BIRD FARM.” The turkey bird farm specializes in egg and meat production for a broad range of customers. It produces manure as a by-product. It is a substantial meat producer as well as a well-known egg producer. This study was created using marketing research methodologies by the company. The business strategy for “TURKEY BIRD FARM” is being produced in order to deliver high-quality goods and effectively sustain supplies. Nazira Akter opted to build the farm just outside of Beanibazar in Khasaripara as a single proprietorship. The farm will provide eggs and chicken meat to the Beanibazar thana, as well as nearby thanas such as Gulapgonj, Barlekha, and Sylhet. The farm will begin operations in 2017 by delivering eggs and meat to restaurants, grocery stores, motels, bakeries, and supermarkets at exceptionally cheap prices. It will also offer manure for agricultural production to farmers. 1000 turkey birds would be perfect for the firm’s first operations. The risk, financial, health, and technological aspects of the plan were all thoroughly assessed.
The founder’s primary goal is to:
- To become the area’s largest and cleanest turkey farm producer, conforming to federal food and drug laws.
- During the first six months of operation, earn money.
- To provide them a chance to work.
- We concentrated our efforts in the first year on winning the hearts and tastes of our devoted consumers and developing a brand image for the company via aggressive marketing.
- To provide clients with a high-quality product while also maintaining enough supply.
- To make a greater contribution to the national and local economies
“TURKEY BIRD FARM”
will make every effort to satisfy its customers’ expectations, with the goal of providing high-quality, fresh, healthy egg and poultry meat.
Keys to success
- Turkey bird farming is a well-established industry.
- The industry works as a network, with many different specialities bringing in various inputs.
- Food is one of man’s most basic needs. Humans must eat regardless of economic situations, and this farming is feasible because domestic birds are edible.
- Bangladesh’s population is above 150 million people and growing; bear in mind that a huge population means a large food demand (egg and meat).
- As more people become aware of the hazards of red meat, demand for white meat has increased, and birds are one source of white meat.
- There are high-quality chicks, equipment, immunizations, and medications accessible. Farmers have access to technical and professional assistance.
SYNOPSIS OF THE BUSINESS
The farm’s main purpose is to provide high-quality, nutritious chicken eggs and meat to customers. It will also offer farmers with low-cost manure to increase crop yield.
The sole person who owns “TURKEY BIRD FARM” is Nazira Akter. She will be entitled to a part of the firm’s earnings and will be held equally liable for any debts or claims incurred by the company.
Location and resources of the company
The farm is located in Khasaripara, about 2 kilometers from the Beanibazar upazila and 45 kilometers from Sylhet district.
The following will be available at the farm:
- The setting is calm and quiet, devoid of all types of noise and disturbance.
- Housing, feeding, and drinking amenities that are appropriate.
- An office building is being built.
- Transport truck for eggs and feed.
- A sufficient amount of clean, fresh water is available in the agricultural area.
- A solid public transportation system is in place.
The farm will also offer certain services to its consumers that other suppliers do not:
- The farm will transport its products (chickens and eggs) to clients using its own trucks at a reasonable fee.
- If a customer complains about a subpar product, the farm will always correct the situation.
- Processed meat will be offered if customers request it.
- The farm will provide a limited number of commodities on credit.
- The manure composting facility on the property will be a bonus. Because manure is a problem for local and regional nurseries, the farm will provide it.
Summary of the start-up
Our company’s start-up costs are Tk. 2,30,000. The farm will borrow TK 100,000 from the Islami Bank, Beanibazar Branch. For the first to third years of operation on the farm, projected revenues are TK. 45,000, TK. 70,000, and TK. 80,000, respectively.
The following table shows the total start-up costs:
Table 1 shows the total costs of starting a business.
SUMMARY OF THE PRODUCT
Description of the product
Turkeys are large birds that belong to the genus Meleagris. They have a chicken-like appearance, but they are much bigger. As a consequence, turkey chicken has become a popular name for it. Chicken eggs and chicken meat are sent to our target audience. We also give chicken feces as a fertilizer. This is mostly utilized in the production of vegetables and as a component in fish feed. This farm will deliver high-quality, contaminant-free chickens as well as the freshest eggs to meet the needs of our devoted consumers. The items will be supplied via a variety of channels, including supermarkets, public markets, bakeries, restaurants, and the company’s own retail space, allowing marketing agents and customers convenient access. Our goods are, in a nutshell, as follows:
- Products of importance
* Chickens in their natural habitat.
- poop from chickens
We want to assist our customers by providing home delivery to those who buy a certain quantity of our products.
Want for production
On our farm, we plan to keep 300 meat chickens and 200 egg-laying hens. In a flock of 200 chickens, each one must lay at least one egg per day. Throughout the day, a total of 200 eggs will be laid. Every three months, 300 adult chickens will be sold. Within the next three years, we want to reduce manufacturing costs by at least 20%.
System of production
The cage system entails the use of a cage to contain the animal.
Hens are kept in cages for the whole of their productive lives at this facility. Up to 50 chickens may fit in each cage. Chickens are not exposed to droppings in a cage configuration, which lowers the risk of sickness. The chicken attendants may take care of feeding, watering, collecting eggs, cleaning, and eliminating litter. A minimum of 0.5-0.8 square feet of space is needed to stand any turkey beneath the cage.
Hens are housed in housing with a floor area of 8 to 10 birds per m2 to provide their freedom of movement. The floor will be covered with a 5cm to 10cm deep litter made of grain husks (maize or rice), straw, wood shavings, or other similarly absorbent (but non-toxic) materials. Once the old litter has been removed from the premises, the floor will be cleaned and disinfected.
SUMMARY OF THE MARKET ANALYSIS
Segmenting the market
During market segmentation, we learned that almost everyone eats eggs and meat, so we’re going after the whole market, including individuals, homes, and enterprises that eat a lot of eggs and chicken. Live chickens are in high demand for household usage or as gifts during festivals like Eid-ul-Fitr, the New Year, and wedding ceremonies.
Segmentation of the target market
- Individuals account for just a small percentage of the market. Despite the fact that they are a large group, they only purchase a small number of eggs.
- We aim to provide a large amount of eggs to companies that use eggs.
- They include bakeries, restaurants, food delivery services, retail establishments, and supermarkets.
- Another group of our target market that will order our things in medium volumes is those who want our home delivery since they have a fixed quantity of eggs to buy. Chicken burgers, chicken pie, salads, Scotch eggs, omelets, and egg soup are just a few of the dishes made with eggs in the house.
- Two areas of our target market include small-scale poultry growers and happy people. We’ve researched the needs of each target market category and are certain that we’ll be able to meet them.
- The manure will help local farmers and fisheries thrive.
The farm’s produce will be supplied to the ultimate clients according to the distribution plan. “TURKEY BIRD FARM” has a very basic distribution route. It normally makes the journey from the farm to the client. Customers receive products after they have been delivered to beparies, Aratdars, stores, and supermarkets.
The agricultural market is quite competitive. A huge number of well-established farms make and market poultry products. They’ll have to compete against the company. Some of the farm’s main rivals are as follows:
SUMMARY OF THE STRATEGY AND IMPLEMENTATION
Competitive advantage in business
The key competitive advantages of ” TURKEY BIRD FARM” are:
- We’re here to provide you with high-quality, low-cost chicken goods.
- Because our tagline is “customer is king,” we will always have a quick delivery.
- Efficiency in production.
- We will need contemporary technology to manage the farm.
- It is possible to do market research on a regular basis.
- We have adequate competent employees to complete manufacturing duties.
Strategy for marketing
“TURKEY BIRD FARM” will strive to manufacture high-quality items and will use the approaches listed below to do so. Because of our location, we will be served by a large hotel, restaurant, schools with campuses, and home delivery food outlets. We’d also make arrangements to sell our live birds and eggs to market hawkers. We’d also work out deals with retailers to ensure a steady supply of eggs at regular intervals.
Strategy for pricing
A turkey costs tk.400 per kilogram, however a turkey may cost anywhere from tk.2000 to tk.2500. A crate of eggs also costs between Tk200 and Tk300. A bag of manure will set you back roughly Tk50. The current market price of chicken meat and eggs would also affect these values.
As we compete with other poultry, we will market our goods via radio, leaflets, posters, and other techniques. We may also use word-of-mouth and ties with well-known entrepreneurs in the region to market our firm. We’ll also place ads in publications to promote our goods and services. People are now aware of our firm as a consequence of the creation of a website.
“TURKEY BIRD FARM” also has a website where customers may contact us and learn more about our business. We have a website where we can place online advertising and promote our chicken in online media.
Strategy for selling
The majority of “TURKEY BIRD FARM’s” goods will be sold via wholesale channels. Sometimes, retail marketing techniques are used. To boost sales, you’ll need to do the following:
- Farm management techniques that are better.
- Maintaining manufacturing efficiency by keeping up with new technologies.
- Developing a pricing plan that is suitable.
The graph below depicts our monthly sales projections
Analyses the situation via a swot analysis
Strengths, weaknesses, opportunities, and threats are acronyms for strengths, weaknesses, opportunities, and threats, which we have analysed in each situation.
- Produce higher-quality eggs and meat with less fat and more protein.
- The meat of turkeys contains zinc, potassium, phosphorus, and vitamin 6.
- This combination of ingredients is better for the human body.
- Marketing plan is excellent.
- Eggs and meats are seasonal items that may be eaten at any time of year.
- In this location, the turkey farming sector hasn’t been over-exploited.
- Turkeys are not harmful to the environment.
- There is a lower cost of labor.
- It necessitates a large sum of money. To establish such a business, a large sum of money is necessary.
- A disease epidemic might wreak havoc on a company’s whole functioning.
- The odor may be rather offensive.
- More space is required for production.
- The incidence of egg cracking is increasing.
- Expansion into large-scale manufacture of by-products (fertilizer and detergent),
- with export to nearby communities.
- Food security will be ensured by a big and effective poultry operation.
- There will be more competition.
- Viruses that affect birds.
- Importation of frozen chicken is a possibility.
SUMMARY OF MANAGEMENT
Team of leaders
” TURKEY BIRD FARM” is managed by Nazira Akter. She is in charge of the Farm’s operations. The following positions in succession are production manager, distribution manager, marketing manager, and financial manager. The whole management team is well-versed in their respective fields. Accountability and mutual respect will underpin the firm’s management philosophy.
Other employees, in addition to the executive staff, are:
Cleaners, security, a food technician, and a driver are all examples of people that work in the cleaning industry.
Two cleaners, one security guard, and two food technicians work on the premises. A driver is also there to assist with delivery. Personnel are paid on a monthly basis, with the exception of the veterinary doctor.
Other people we pay by the hour include veterinary physicians, drivers, and technicians.
PLAN OF ACTION FINANCIAL
Every endeavor requires funding. This refers to whether personal cash or bank term loans are used to establish a company. Our company’s financial structure and processes are comparable to the one shown below.
The following are the financial ratios for “TURKEY BIRD FARM:”
Each project will include a log book that will record the number of live birds given, killed birds, and mortality. If we keep track of everything, we’ll be able to budget more accurately and make better decisions about the hens. Details like:
- All of the meals I ate and bought
- Purchased hens
- Vaccination and other veterinary expenditures Expenses associated with deaths and their causes
- Variable expenses such as labor
- Count of eggs gathered per day Count of eggs sold and consumed at home
- Damaged egg count and percentage
- Daily intake of water and feed
Analyze the risks
- Pricing policy changes by us or our competitors
- Wholesalers and retailers’ revenues fluctuate.
- Purchase or payment-related costs are paid on time.
Risks to health
Contagious illness and viral outbreaks are very dangerous; if one of the hens contracts the disease, the whole flock will be afflicted, and if the sickness is not diagnosed and treated quickly, all of the chickens may die, resulting in a significant financial loss for the company. Furthermore, several of the infections are transmissible to people as well as chickens, causing harm to both employees and those who consume them.
Disease prevalence varies by geography. Egg shells may degrade due to direct sunlight on egg trays or nests, insufficient ventilation, and excessively high temperatures both inside and outside the chicken coop. We shall avoid all of these circumstances to the best of our abilities.
Risks posed by technology
Technology provides a lot of advantages, but it also has certain disadvantages. When using technology, there are typically complications; for example, a machine that collects eggs may break down or spoil, causing operations to slow down and raising the firm’s costs to repair it. Electricity is also not inexpensive, and certain electrical problems might cause a fire to break out and burn down the building, resulting in the loss of assets and even the whole company.
Prepare for every eventuality
As we investigated these risks, we developed contingency plans for unplanned catastrophes or events. In terms of health risks, we’ll collaborate with a veterinarian to arrange periodic hen checks while giving the best possible environment. As a back-up plan, we’ll get insurance to safeguard our assets. Installing fire extinguishers in strategic positions will help to lessen one of the threats we must confront: the possibility of a fire. We could be obliged to take out loans in the case of a financial disaster.
Turkey Bird Farm will be emphasized in terms of quality and output. The farm will prepare for the future by building high-quality buildings, learning new technology, and training effective management.
To summarize, turkey farming is a terrific enterprise in Bangladesh. This is particularly useful for educated job seekers since employment opportunities are reducing day by day as a consequence of rapid population growth. As a consequence, commercial poultry farming may offer a reliable source of income and employment while also enabling you to become self-sufficient.