Are you about starting a snail farming business? If YES, here is a complete sample snail farming business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a snail farming business. We also took it further by analyzing and drafting a sample snail marketing plan template backed up by actionable guerrilla marketing ideas for snail farms. So let’s proceed to the business planning section.
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
Why Start a Snail Farming Business?
Snail farming is another interesting, thriving and profitable business venture that an entrepreneur for is interested in making money from livestock breeding should consider going into. As a matter of fact, snail farming requires low start – up capital and anyone who is serious about business can generate good income from the business. Snail meat has been severally affirmed as a most safe and nutritious delicacy.
In these days of increased coronary implications and other health implications, snail farmers are certain to hit it big because many people are shunning away from beef or red meat. It is also pleasing to note that snail production venture could be kick-started with a little initial capital. The best period to commence snail farming is the rainy season; you can start about 50 to 60 snails to have a good knowledge of how snail breeding works. Make sure you go for a fully matured and big nails.
In starting you own snail farming business, you will need to write out what your plans are. This can be your long term goals, as well as your short term goals. Other things to be included in your plan includes; your choice of location, the sales projection you have, the staff strength that you plan to launch out with, as well as other things that must not be toyed with as you look to build a world-class business.
There is a sample snail farming business that you can use to work on your own business plan;
A Sample Snail Farming Business Plan Template
1. Industry Overview
One good business that falls under the agriculture cum meat production industry that an entrepreneur can successful start is snail farming. Snail farming is not capital intensive and management tasking, especially when compared to other meat rearing business like poultry and catfish farming. The feeds are readily available and you can even produce it yourself as snails feed on waste.
You can start small from your backyard and grow from there. Due to its high nutritional value, snails have become a very popular delicacy. Snail meat is very rich in calcium, magnesium, phosphorus, selenium, vitamin E as well as vitamin C.
Snail meat is very popular among weight watchers because they are extremely low in calories and fat. Snail meat is also very beneficial to people suffering from cardiovascular diseases, cancer and people trying to recover from an injury.
The Livestock Farming industry of which snail farming line of business is a part of is indeed a large industry and pretty much active in countries such as United States of America, Israel, Brazil, China, Germany, Argentina and Nigeria et al. It is a fact that there is no single snail farming business that has dominate market share in the industry hence smaller snail farming business can successfully compete in the industry and still make appreciable profits.
If you are looking towards leveraging on the livestock industry to generate huge income, then one of your best bet is to start your own snail farming business. Snail farming business is all about mass – breeding of snails for the sole aim of making profits.
One thing is certain about snail 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 snails because there are loads of people out there we eat snails especially in Africa and of course African communities in the united states of America.
Over and above, snail farming business is indeed a profitable and thriving livestock breeding business that an entrepreneur who is interested in farming should consider going into.
2. Executive Summary
Blake Morrison & Family Farms Ltd is a registered and licensed livestock farming company that will be based in the outskirt of Dallas, Texas – United States. We have done our detailed market research and feasibility studies and we were able to secure five hectares of land to start our livestock breeding business. Our livestock breeding business is a going to be standard one hence will be involved in commercial breeding of snails and other livestock.
We choose to start our snail farming business in Dallas Texas because we are sure of generating enough market for our snails considering the robust populations of African communities in the Dallas – Texas and of course throughout the United States of America. We have plans in the pipeline to start our snail processing plant and also start exporting our products to other parts of the world where they have active African communities. This is why aside from the fact that we’ve secured the required farming land for breeding snails in commercial level, we have also secured all the necessary permits that will enable us successfully run this type of business in the United States of America.
We are in the snail farming business because we want to leverage on the vast opportunities available in the livestock farming industry, to contribute our quota in growing the U.S. economy, in national food (meat) production, to export agriculture produce from the United States to other countries and over and above to make profit.
Blake Morrison & Family Farms Ltd is well equipped and well positioned to become one of the leading snail farming business in the United States of America, which is why we have been able to source for the best hands and equipment to run the business.
We have put process and strategies in place that will help us employ best practices when it comes to livestock breeding/snail farming processes and meat processing and packaging as required by the regulating bodies in the United States of America.
Blake Morrison & Family Farms Ltd is a family registered livestock farming company that is owned and managed by Blake Morrison and his immediate family members. The company will be fully and single handedly financed by the owner – Blake Morrison and his immediate family members at least for a period of time. Blake Morrison is an African American that has robust relationship with the African communities in throughout the United States of America and with intercontinental hotels who serve snail meat as part of their cuisine.
3. Our Products and Services
Blake Morrison & Family Farms Ltd is a licensed livestock farming business that is committed to snail farming and snail meat processing and packaging for both the United States’ market and the global market. We will also ensure that we operate a standard food processing plant as part of our complimentary business offering.
We are in the snail farming line of business to make profits and we are going to do all that is permitted by the law in the United States of America to achieve our business aim and objectives.
4. Our Mission and Vision Statement
- Our Vision is to become one of the leading snail farming company not just in Dallas – Texas, but also in the United States of America and Canada.
- Our mission is to sell our produce (live snails), and processed snail meat in commercial quantities both locally, nationally and internationally. We want to build a snail farming business that will become the pacesetter for snail farming business in the United States of America and Canada.
Our Business Structure
Blake Morrison & Family Farms Ltd is a livestock cum snail farming company that intend starting small in Dallas – Texas, but hope to grow big in order to compete favorably with leading livestock farms 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 in and around Iowa.
At Blake Morrison & Family Farms Ltd, we will ensure that we hire people that are qualified, hardworking, dedicated, 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 management of the farm. In view of the above, Blake Morrison & Family Farms Ltd have decided to hire qualified and competent hands to occupy the following positions;
- Chief Operating Officer (Owner)
- Snail Farm Manager
- Sales and Marketing Executive
- Field Employees
- Front Desk Officer
5. Job Roles and Responsibilities
Chief Operating Officer:
- 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 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
Snail Farm Manager
- Responsible for the planning, management and coordinating all farm activities across the various sections on behalf of the organization
- Supervise 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
- Uses IT systems and software to keep track of people and progress of the growth of crops, fishes, birds and animals
- Responsible for overseeing the accounting, costing and sale of farm produce after harvest
- 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
- 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 snail farming activities
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Responsible for financial forecasting and risks analysis.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Sales and Marketing Officer
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of new business
- Writes winning proposal documents, negotiate fees and rates in line with company policy
- Responsible for handling business research, marker 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
- Document all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company.
Field Workers/Contract Staff
- Responsible for feeding snails as instructed by the supervisor
- Responsible for cleaning the snail farm/cage
- Handles snail farm implements and machines as instructed by the section manager / supervisor
- Assists in handling the breeding and harvesting of snails
- Carries out task in line with the stated job description
- Assists in transport working tools and equipment from the farm and back to the designated store room
- Handles any other duties as assigned my the line manager
Client Service Executive/Front Desk Officer
- Welcomes guests and clients by greeting them in person 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 manager in an effective and timely manner
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
- Receives parcels/documents for the company
- Distribute mails in the organization
- Handles any other duties as assigned my the line manager
6. SWOT Analysis
We are aware that loads of people in the United States of America do not eat snail meat which is why we want to do our due diligence before launching the business.
Blake Morrison & Family Farms Ltd 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 snail farming business that will favorably compete with leading livestock farms in the United States of America and in the rest part of the world.
As a snail farming business, we look forward to maximizing our strength and opportunities and also to work around our weaknesses and threats. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Blake Morrison & Family Farms Ltd;
Our strength as a snail farming business is the fact that we have healthy relationships with loads of major players (agriculture merchants, African communities and intercontinental hotels who serve snail meats) in the meat production industry; both suppliers and buyers within and outside of the United States.
We have some of the latest snail farming tools and equipment that will help us breed snails 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 snail farming line of under our payroll.
Aside from the fact that loads of people do not eat snail meat in the United States of America, one of our weaknesses could be that we are a new livestock cum snail farms in the United States and we may not have the required cash to pump into promoting of our business and encourage people to eat snail meat. 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.
Despite the fact that the average Americans do not eat snail meat, the opportunities that are available to us as a snail farming business cannot be quantified, we know that there are loads of African communities and intercontinental hotels that will source for snail meat from our snail farms both in the United States of America and other parts of the world.
Some of the threats and challenges that we are likely going to face when we start our own livestock farm cum snail 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 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
In the United States of America, it is not trendy to find people who do eat snail meat except for people from Nigeria and other African countries. As a matter of fact, some Americans will find it strange that people do eat snail meat.
In view of the above, people who are into snail farming ensure that they target Nigerian or African communities in the United States or wherever they intend selling their snails. They also ensure that they target intercontinental hotels that serve snail meat as part of their cuisine.
Lastly, snail farmers ensure that they leverage on health benefits of snail in marketing snails. As a matter of fact, snails are very popular among weight watchers because they are extremely low in calories and fat. Snail meat is also very beneficial to people suffering from cardiovascular diseases, cancer and people trying to recover from an injury.
8. Our Target Market
As you would expect, the target market of those who are the end consumer of snails and also those who benefits from the business value chain of snail farming is all encompassing; it is far – reaching.
We will ensure that we position our business to attract consumers of snails not just in the United States of America alone but also other parts of the world which is why we will be exporting some of our snails either in live form or processed form to other countries of the world. Here are the people and organizations we will market our snails to;
- Nigerian cum African Communities in Dallas – Texas and other states in the United States of America
- Weight watchers
- People recovering from cardiovascular disease, cancer and those trying to recover from injuries
- Intercontinental hotels and restaurants that serves snail meats
It is important to state that snail farming is not a common enterprise in the United States of America hence the level of competition is not as stiff as it is amongst other livestock farming businesses.
Blake Morrison & Family Farms Ltd is fully aware that snail farming is not a popular line of business in the United States which is why we decided to carry out thorough research so as to know how to take advantage of the untapped 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 leverage in the marketplace; some of the factors are effective and reliable snail farming processes that can help us sell our snail and processed snail meat at competitive prices, good network and excellent relationship management.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups snail 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.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Blake Morrison & Family Farms Ltd is in the livestock breeding industry cum snail farming business for the purpose of maximizing profits hence we have decided to explore all the available opportunities within this line of business to achieve our corporate goals and objectives. In essence we are not going to rely only on the sale of our live snail and processed snail meat to generate income for the business but also other business interests within the value chain.
10. Sales Forecast
From the survey and market research conducted, we are able to discover that the sales generated by a commercial livestock farm cum snail farms depend on the size of the farm, the network of the farm.
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.
We have been able to critically examine the snail farming line of business cum commercial livestock farm 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 commercial livestock farm/snail farming business that we want to run.
Below are the projections that we were able to come up with for the first three years of running Blake Morrison & Family Farms Ltd;
- First Fiscal Year-: $200,000
- Second Fiscal Year-: $450,000
- Third Fiscal Year-: $700,000
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. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are fully aware that marketing snails in a country like the United States of America can be a bit tasking because loads of people do not eat snail meat. It will take conscious effort for us to convince people who do not eat snail meat to patronize us and start eating snails.
Our goal is to grow Blake Morrison & Family Farms Ltd to become the leading livestock cum snail farms in the whole of Dallas – Texas and the whole of the United States of America which is why we have mapped out strategy that will help us take advantage of the potential market and grow to become a major force to reckon with in the snail farming cum livestock farming industry.
Over and above, we have perfected our sale and marketing strategies first by networking with agriculture merchants and intercontinental restaurants and hotels that rely on live snail from the snail farms cum livestock farming industry who are likely to refer become our customers.
In summary, Blake Morrison & Family Farms Ltd will adopt the following strategies in marketing our commercial farm produce;
- Introduce our snail farming business by sending introductory letters alongside our brochure to stake holders in the agriculture industry, intercontinental restaurants and hotels that rely on live snail from the snail farms cum livestock farming industry, Nigeria cum African communities, and agriculture produce merchant et al.
- Advertise our business and livestock farms in agro – allied and food related magazines and websites
- List our snail farms on yellow pages ads (local directories)
- Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
- Attend related agriculture/livestock 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)
11. Publicity and Advertising Strategy
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 snail farming business. Below are the platforms we want to leverage on to boost our commercial livestock cum snail farm brand and to promote and advertise our business;
- Place adverts on both print (newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events/programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our business
- Install our Bill Boards on strategic locations all around Dallas – Texas
- Engage in road show from time to time in targeted neighborhoods
- Distribute our fliers and handbills in target areas
- Contact Nigeria cum African communities, intercontinental hotels and restaurants and residence in our target areas by calling them up and informing them of Blake Morrison & Family Farms Ltd and the farm produce we sell
- List our snail farms in local directories/yellow pages
- Advertise our snail farms in our official website and employ strategies that will help us pull traffic to the site.
- Ensure that all our staff members wear our branded shirts and all our vehicles and trucks are well branded with our company logo et al.
12. Our Pricing Strategy
We are aware that if you want to get the right pricing for your livestock or snails, then you should ensure that you choose a good location for your snail farm, choose a good breed that will guarantee steady and multiple breeding (prolific breeds), cut the cost of running your snail farm to the barest minimum and of course try as much as possible to attract buyers to your farm as against taking your snails 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.
So also, we are quite aware that one of the easiest means of penetrating the market and acquiring loads of customers for all our snails is to sell them at competitive prices hence we will do all we can to ensure that the prices of our snails and processed and packaged snail meat are going to be what other snail farmers would look towards beating.
One thing is certain, the nature of snail farming business we are involved in makes it possible for farmers to place prices for their snails and processed and packaged snail meats 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. The easier you sell off your snail when they are mature the better for your business.
- Payment Options
The payment policy adopted by Blake Morrison & Family Farms Ltd 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 Blake Morrison & Family Farms Ltd 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 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 our live snails and processed and packaged snail meat.
13. Startup Expenditure (Budget)
When it comes to calculating the cost of starting a commercial livestock farm cum snail farm, there are some key factors that should serve as a guide. The most important expenses is the construction of the snail farm or confinement as the case may be.
For example, the start – up cost for a fish farm is different from the start – up cost for mechanized crop farming, so also the start – up cost for poultry farming is different from the start – up cost of cattle ranch (dairy farm) et al. As a matter of fact, if you choose to start a mechanized crop farming, then you should be willing to raise huge capital base to start the business. This is so because some cultivation machines / equipment can be pretty expensive.
Below are some of the basic areas we will spend our start – up capital in setting up our commercial livestock cum snail farm;
- The Total Fee for incorporating the Business in United States of America – $750.
- 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 needed to acquire / lease a farm land – $50,000
- The amount required for preparing the farm land (for construction of snail cages / fencing et al et al) – $70,000
- The cost for acquiring the required working tools and equipment / machines / fencing et al– $50,000
- The amount required for purchase of the first set of snails – $50,000
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $40,000
- The Cost of Launching an official Website – $600
- The amount required for payment of workers for a period of 3 months – $100,000
- 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 $200,000 to start a standard commercial livestock cum snail farming business in the United States of America.
Generating Funding/Startup Capital for Blake Morrison & Family Farms Ltd
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 snail 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.
Blake Morrison & Family Farms Ltd is a family business that will be owned and managed by Blake Morrison and his immediate family members. They are the sole financial of the firm, but may likely welcome other partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.
These are the areas where we intend sourcing for fund for Blake Morrison & Family Farms Ltd;
- Generate part of the start – up capital from personal savings and sale of his stocks
- Generate part of the start – up capital from friends and other extended family members
- Generate a larger chunk of the startup capital from the bank (loan facility).
N.B: We have been able to generate about $50,000 (Personal savings $30,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $150,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. 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 Blake Morrison & Family Farms Ltd 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 sell our farm produce (live snails and processed and packaged snail meat) 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.
Blake Morrison & Family Farms Ltd 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 organization’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 of our business strategy.
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 five years or more as determined by the management of the organization. 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.
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Leasing of snail farm land in Dallas – Texas: Completed
- Conducting Feasibility Studies: Completed
- Start – up Capital Generation: Completed
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Building /construction of cages and fence et al: In Progress
- Purchase of the needed working tools, machines and equipment: Completed
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Farm land Treatment, Health and Safety Arrangement: In Progress
- Establishing business relationship with vendors and key players in the industry the (agriculture industry, intercontinental restaurants and hotels that rely on live snail from the snail farms cum livestock farming industry, Nigeria cum African communities, and agriculture produce merchant et al): Completed
- A Guide to Great Business ideas for the Future 2025 – 2030 - September 3, 2021
- How Long Do Cordless Drill Batteries Last in 2021? - August 2, 2021
- How Does the Use of Cargo Containers Benefit the Economy? - August 2, 2021