Are you about starting a turkey farming business? If YES, here is a complete sample turkey farming business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a turkey farming business. We also took it further by analyzing and drafting a sample turkey farming marketing plan template backed up by actionable guerrilla marketing ideas for turkey farms. So let’s proceed to the business planning section.
One of the businesses that is poultry related and can fetch a great source of income is the turkey farming business. This business has been in existence and is capable of adding values to the lives of people. This business has been in existence for a while and has continued to witness tremendous entrances. This is hinged on the fact that it is a viable money making venture.
One of the things that must be considered in starting a turkey farming business is the fact that adequate research has to be made in order to be armed with all the necessary information that will be needed to launch out properly. One of such researches will also boil down to writing a business plan. There isn’t a business on the face of the earth that doesn’t need a business plan. As such, for the turkey farming it would also be required.
Some of the things that should be contained in a business plan include; the sales forecast, the number of employees to be hired, as well as the roles they will need to play. There is also the marketing strategy. The marketing strategy is really important because of the fact that you will need lots of people to patronize your business for you to really move forward.
Here below is sample turkey farming business plan that will come in really handy as you look to write yours for your turkey farming business;
A Sample Turkey Farming Business Plan Template
- Business Overview
Turkey meat which is in the class of white meat is generally consumed in all parts of the world and it is indeed very sweet and healthy. There are loads of poultries that raise turkey and they are quite making huge profits from the business.
The Chicken and Turkey Meat Production industry include; poultry farms that raise turkeys and chickens basically for meat production. Downstream meat processors and food producers supply farmers with turkeys, chicks, feed and payment, according to contractual agreements. Poultry farmers provide growing facilities, bird care and agricultural expertise. Revenue is recorded in the final prices that poultry farmers receive per average weight of live turkey or chicken.
The Chicken and Turkey Meat Production industry in recent time has experienced positive trends in demand for turkey and chicken meat. Of course increasing health consciousness among American meat consumers has boosted consumption of white meat such as turkey and chicken, which is also more affordable than beef or pork.
Going forward, the industry will continue to enjoy appreciable growth and turkey and chicken farmers will keep smiling to the bank. Falling input prices will enable turkey and chicken farmers to increase production volumes; on the other hand, many farms will consolidate to gain the benefits of economies of scale.
In the United States of America, most poultry farmers have been functioning for more than ten years. They are often family enterprises passed down from one generation to another generation. The major barriers facing new entrants into the industry include the competitive nature of a contract based income system, the medium level of investment required and of course compliance with various environmental regulations.
The Chicken and Turkey Meat Production industry is indeed a very large industry and pretty much thriving in all parts of the world. Statistics has it that in the United States of America alone, there are about 38,065 licensed and registered chicken and turkey meat production companies directly responsible for employing about 56,306 employees.
The industry rakes in a whooping sum of $34billion annually with an annual growth rate projected at 2.7 percent. It is important to state that there are no establishment with a lion share in this industry; every turkey and chicken farms can favorably compete.
If you are tinkering with leveraging on the agriculture industry to generate huge income, then one of your best bet is to start a poultry farm business and concentrate on the rearing and sale of turkey and chicken. One thing is certain about starting a turkey farming business, if you are able to conduct your market research and feasibility studies, you are more likely not going to struggle to sell your turkeys and chickens because there are always food processing companies and consumers out there who are ready to buy from you.
Turkey Farming Business Plan – Executive Summary
John Jones & Family Poultry Farms, LLC is a world – class and licensed poultry farm with strong bias in raising turkeys and chicken and will be based in the outskirt of Baton Rouge, Louisiana – United States. We have done our detailed market research and feasibility studies and we were able to secure 25 hectares of land to start our poultry farm.
Our poultry farm is going to be standard commercial poultry farm hence will be involved in raising, processing and marketing turkeys and chickens on a commercial level; we export live turkeys and chickens, processed turkeys and chickens and eggs to other countries of the world.
We are in the turkey cum commercial poultry farm line of business 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 export turkeys and chickens from the United States to other countries and over and above to make profit.
John Jones & Family Poultry Farms, LLC is well positioned to become one of the leading turkey farming businesses in the United States of America, which is why we have been able to source for the best hands and machines to run the farms with. We have put process and strategies in place that will help us employ best practices when it comes to raising healthy turkeys and chickens as required by the regulating bodies in the United States of America.
At John Jones & Family Poultry Farms, 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.
John Jones & Family Poultry Farms, LLC is a private registered commercial poultry farm company with a strong bias for raising turkey and chicken that is owned by Mr. John Jones and his immediate family members. The poultry farm will be fully and single handedly financed by the owner – Mr. John Jones and his immediate family members at least for a period of time. John Jones is well experienced and highly qualified to run this type of business.
- Our Services
John Jones & Family Poultry Farms, LLC is a standard commercial poultry farms company that is committed to raising turkeys and chickens for both the United States’ market and the global market. We are in the commercial poultry farms line of business 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 commercial poultry farms. If need arises we will definitely add more poultry produce to our list;
- Raising, processing and marketing turkeys and chickens on a commercial level; we export turkeys and chickens, processed turkeys and chickens and eggs to other countries of the world.
- Chicken production (except egg laying)
- Broiler chicken production
- Roaster chicken production
- Fryer chicken production
- Turkey production
- Cornish hen production
Our Vision Statement
Our vision as a company is to become one of the leading turkey farming brands not just in the United States of America but also on the global stage.
- Our Mission Statement
John Jones & Family Poultry Farms, LLC is a world class and registered commercial poultry farms company that is committed to raising turkeys and chickens for both the United States’ market and the global market. We want our chickens and turkeys to flood the nooks and crannies of the United States and other countries of the world.
Our Business Structure
John Jones & Family Poultry Farms, LLC is a family owned and managed commercial poultry farms with strong bias for turkey rearing that intend starting small in Baton Rouge – Louisiana, but hopes to grow big in order to compete favorably with leading commercial poultry farms in the poultry 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 hire only the best hands within our area of operations.
At John Jones & Family Poultry Farms, 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
- Poultry Farm Manager
- Human Resources and Admin Manager
- Accountant / Cashier
- Sales and Marketing Executive
- Turkey Farms Employees
- Front Desk Officer
Roles and Responsibilities
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
Poultry Farm Manager
- 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 turkey farming activities across all section
- Responsible for carrying out risk assessment
- Uses IT systems and software to keep track of people and progress of the growth of turkeys and chickens in our poultry farm
- Responsible for overseeing the accounting, costing and sale of poultry 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
Human Resources and Admin Manager
- 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:
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- 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 John Jones & Family Poultry Farms, LLC
- Serves as internal auditor for John Jones & Family Poultry Farms, LLC.
Sales and Marketing Manager
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Models 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.
- Writes 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 daily collection of eggs
- Responsible for feeding turkeys and chickens as instructed by the supervisor
- Responsible for cleaning the poultry and the entire environment
- Changes the water for the turkeys and chickens as instructed by the supervisor on a regular basis
- Handles poultry farm implements and machines (hatchery) as instructed by the section manager / supervisor
- Assists in handling the turkeys and chickens
- Carries out task in line with the stated job description
- Assists in transport working tools and equipment from the poultry 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 poultry farm manager 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
Turkey Farming Business Plan – SWOT Analysis
John Jones & Family Poultry Farms, 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 turkey farming company that will favorably compete with leading commercial poultry farms who are into the rearing of turkeys and chickens 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 commercial poultry farm with strong bias for rearing turkeys that can favorably compete in the highly competitive commercial poultry farms 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 John Jones & Family Poultry Farms, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of John Jones & Family Poultry Farms, LLC;
Our strength as a commercial poultry farm is with a strong bias for rearing turkeys. In fact our strength is hinged on the fact that we have healthy relationships with loads of major players (agriculture merchants) in the industry; both suppliers of poultry feeds and medications and buyers of turkeys, chickens and eggs within and outside of the United States of America.
We have some of the latest commercial poultry farming hatchery, tools and equipment that will help us raise turkeys 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 Baton Rouge – Louisiana in our payroll.
Our weakness could be that we are a new commercial poultry farms company with a strong bias for turkey rearing 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 we will overcome this weakness with time and turn it to a major advantage for the business.
The opportunities that are available to us as a standard commercial poultry farm with a strong bias for turkey rearing 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 turkey meat. 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 turkey farming business 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 (a commercial farm that engage in the rearing of turkeys, chickens and other birds) within same location. There is hardly anything you can do as it concerns these threats and challenges other than to be optimistic that things will continue to work for your good.
Turkey Farming Business Plan – MARKET ANALYSIS
- Market Trends
The Chicken and Turkey Meat Production industry has greatly benefited from campaigns advertising the health benefits of turkey and chicken meat and eggs as a good source of protein. No doubt, the increased demand of turkey, chicken and eggs from households and food related businesses and of course the growing popularity of specialty and processed and canned turkey meat has rapidly improved revenue growth for the industry. In the face of this growth, profit margin has suffered from rising feed costs and also regulations regarding animal welfare.
As a matter of fact, one of the new trends is that with the recent advancement in technology, poultry farmers can now comfortably predict and produce the quantities of turkeys or chickens or even eggs per time. This has indeed helped them in proper planning and budgeting for the business.
- Our Target Market
Naturally, the target market of those who are the end consumers of commercial poultry farm produce and also those who benefits from the business value chain of the poultry farming industry is all encompassing; it is far – reaching.
Every household consumes produce from commercial poultry farms- be it turkey, chicken or egg. So also almost all hotels and fast restaurants sell turkey meat, chicken meat and eggs. In essence a commercial poultry farmer should be able to sell his or her turkeys, chickens and eggs to as many people as possible.
In view of that, we have positioned our business to attract consumers of turkeys, chickens and eggs 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 turkeys, chickens and eggs to;
- Fast food eateries
- Agriculture merchants
Our Competitive Advantage
It is easier to find entrepreneurs flocking towards an industry that is known to generate consistent income , which is why there are more commercial poultry 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 poultry farming and egg production 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.
John Jones & Family Poultry Farms, LLC is fully aware that there is competition when it comes to selling turkey meat and chicken meat all over the globe, which is why we decided to carry out a 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 turkey farming processes that can help us sell our turkeys 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 poultry feeds and medications and buyers of turkeys, chickens and eggs within and outside of the United States of America.
We have some of the latest commercial poultry farming hatchery, tools and equipment that will help us raise and produce eggs 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 Baton Rouge – Louisiana under our payroll.
Lastly, all our employees will be well taken care of, and their welfare package will be amongst the best within our category (startups turkey farming and commercial poultry farms and egg production 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.
Turkey Farming Business Plan – SALES AND MARKETING STRATEGY
We are quite aware that the reason why some turkey farming businesses hardly make good profits is their inability to sell off their turkeys as at when due. Our sales and marketing team will be recruited based on their vast experience in the turkey and chicken meat production 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 John Jones & Family Poultry Farms, 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 turkeys, chickens and eggs from the turkey and chicken meat production industry that are likely to become our customers.
In summary, John Jones & Family Poultry Farms, LLC will adopt the following strategies in marketing our commercial farm produce;
- 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 turkey farming 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)
Sources of Income
John Jones & Family Poultry Farms, LLC is in the turkey and chicken meat production 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 John Jones & Family Poultry Farms, LLC;
- Raising, processing and marketing turkeys and chickens on a commercial level; we export turkeys and chickens, processed turkeys and chickens and eggs to other countries of the world.
- Chicken production (except egg laying)
- Broiler chicken production
- Roaster chicken production
- Fryer chicken production
- Turkey production
- Cornish hen production
Going by the market research and survey conducted, we were able to discover that the sales generated by a turkey farming business depends on the size of the poultry farm and of course the size of their marketing network.
We have perfected or sales and marketing strategies and we are set to hit the ground running and we are quite optimistic that we will meet or even surpass our set sales target of generating enough income / profits from the year of operations and build the business from survival to sustainability with the shortest period of time.
We have been able to critically examine the turkey farming business and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some workable assumptions as well with respect to the nature of turkey farming business that we run.
Below are the projections that we were able to come up with for the first three years of running John Jones & Family Poultry Farms, LLC;
- First Fiscal Year-: $250,000
- Second Fiscal Year-: $500,000
- Third Fiscal Year-: $750,000
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.
- Our Pricing Strategies
Some of the factors that will help you sell your turkeys and chickens 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 are natural disaster in the location where you have your commercial poultry farm, then it will directly affect the prices of your turkeys, chicken and eggs.
Over and above, if you want to get the right pricing for your turkeys, chickens and eggs, then you should ensure that you choose a good location for turkey farm, choose a good breed that will guarantee bountiful harvest, cut the cost of running your poultry farm to the barest minimum and of course try as much as possible to attract buyers to your poultry farm as against taking your turkeys and chickens 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 our turkeys and chickens is to sell them at competitive prices. hence we will do all we can to ensure that the prices of our turkeys of all sizes are going to be what other commercial poultry farmers would look towards beating.
One thing is certain; the nature of commercial poultry farming makes it possible for poultry farmers to place prices for their turkeys and chickens 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 John Jones & Family Poultry Farms, 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 John Jones & Family Poultry Farms, LLC will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchases without any stress on their parts. 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 turkeys, chickens and eggs.
Turkey Farming Business Plan – Publicity and Advertising Strategy
Any business that wants to grow beyond the corners 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 turkey farming business. Below are the platforms we will leverage on to boost our turkey farms 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 Baton Rouge – Louisiana
- 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 John Jones & Family Poultry Farms, LLC and the poultry produce 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.
Turkey Farming Business Plan – Financial Projections and Costing
When it comes to calculating the cost of starting a commercial poultry farm, there are some key factors that should serve as a guide. The different types of birds to be raised in commercial poultry 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 turkey 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 turkey farm / poultry;
- The Total Fee for incorporating the Business in United States of America – $750.
- The amount needed to acquire / lease a farm land – $50,000
- The amount required for preparing the farm land (poultry fencing 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 John Jones & Family Poultry Farms, LLC, Inc. 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 turkeys and chickens – $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 commercial poultry farm business with strong bias for turkey rearing in the United States of America.
Generating Funding / Startup Capital for John Jones & Family Poultry Farms, 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. Finance is a very important factor when it comes to starting a business such as commercial poultry farming. No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through.
John Jones & Family Poultry Farms, LLC is a family business that is solely owned and financed by John Jones and his immediate family members. We do not intend to welcome any external business partners, which is why we have 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.
Turkey Farming Business Plan – Sustainability and Expansion Strategy
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 John Jones & Family Poultry Farms, 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 turkeys, chickens and eggs 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.
John Jones & Family Poultry Farms, 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 poultry (cages): 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