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Business Plan Example for Carifarm Limited Company

2021-07-05 07:45:59
5 pages
1207 words
University/College: 
Sewanee University of the South
Type of paper: 
Business plan
This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

The following business plan focuses on Carifarm Limited Company. The company deals with the export of fresh organic produce from the Caribbean to the United States. The business plan is intended to provide a blueprint for the operations of the company.

2.0 An overview of the company and its ownership

Carifarm is a company which was formulated with a view to fulfilling the growing need for the consumption of healthy farm produce. According to Tuller (1993), the consumption of healthy food starts with the purchase of organically grown farm produce.

We offer well packaged tropical fruits such as avocados, bananas, pineapples, mangoes and passion fruits, tuber crops including beetroots, arrowroots as well as tomatoes. In addition to these products, we also export herbs such mint and chives.

The limited liability company is a partnership between four business people who have different degrees of ownership in the business.

3.0 Opportunity

3.1 The challenge to be looked into

Barrow, Barrow& Brown (2015) explain that the recent years have seen changing trends whereby buyers are more concerned about what they eat. This has culminated in a high demand for organic farm produce. However, this is a market worth venturing into as the market demographics keep on changing providing an ever-increasing number of buyers.3.2 The Solution

The company goes ahead to pre-pack fresh farm produce. These are then to be shipped to various stores within the United States within the shortest time possible. At this particular point, consumers can easily go ahead and make their purchases from the various grocery stores.

4.0 Marketing Strategy

4.1 Market Segmentation

The consumers who normally prefer organic foods constitute 58% of the total consumers. These individuals have a high preference for fresh produce. According to McKeever (2017), this is attributed to the age as well as the level of education of the consumers. High levels of education lead to greater demand for organic foods.

4.2 Target Market Segment Strategy

The business is going to target families with children below 18 years, individuals with high levels of disposable income and education. However, as pertains to education, exemptions will be made whereby women with high amounts of income but lower education levels will be part of the focus in the packaging of farm produce.4.2.1 Market Needs

Tuller (1993) asserts that consumers in this segment of the market require environmentally friendly fresh produce. The organic produce should be free of chemicals as well as genetic modification of any kind. At the same time, purchases should contribute the wellbeing of the local economy.4.2.3 Market Growth

According to Barrow, Barrow & Brown (2015), the current share of the market is greater for organic imports as compared to exports. More so, food requirements for both organic and conventional produce in the USA have increased considerably. This has also been aided by the growing number of organic hotspots in the USA.

4.3 Competition

McKeever (2017) states that one key competitor include White Wave Foods. They deal in the provision of fruits and vegetables. They also offer salad greens and herbs. Fresh organic produce from farms also offers some degree of competition. The farmers normally opt to sell to the consumers directly .However, in some cases they might go ahead and make their produce available in the locally operational stores. 5.0 Execution

5.1 Marketing Plan

The marketing plan will have to be heavily informed by research that will seek to identify the attitudes and lifestyle practices prevalent amongst the targeted customers. The companies can then go ahead and come up with a website that will seek to increase awareness among consumers on the advantages associated with opting for an organic lifestyle. In addition to this, brochures and pamphlets can be produced that can provide a thorough explanation regarding the products that are going to be offered by the company.

5.2 Sales Plan

The company can use both direct and indirect methods of selling to consumers. Even so, there are many avenues where organic produce can be made available to consumers so that they can make their purchase. McKeever (2017) asserts that going online is one way of reaching a large number of buyers. However, the company will need to set up a system that will ensure the correct grocery delivery to a buyer who has made an online purchase. At the same time the company will go ahead and identify some farmers markets where we can avail the fruits, vegetables and herbs. To this end, making use of a wholesale distributor is a viable idea.

5.3 Milestones

In the next five years, the company should be able to increase the overall earnings by a 10% margin. The business should also be able to expand to the European as well as the Japanese market. In addition to this the number of local farmers from whom purchases are made should be increased in order to better support the local economy in the Caribbean.

6.0 Organization and Management Structure

6.1 Organizational Structure

The business is going to be operating as a limited liability company with multiple members that will be overseen by a manager. According to Barrow, Barrow & Brown (2015), it is a requirement that these details be included in the articles of organization. These members are going to go ahead and appoint subordinate officers who will be in charge of their appointed areas of specialization. They can be in charge of the different operational departments in the business.

6.2 Management Team

The appointed officers will manage different departments of the company. Tuller (1993) asserts that these should include; market research, marketing and advertising as well as purchase and sales of farm products. In addition to this, other members will be responsible for finance and administration of the partnership and the assurance of the high quality of the farm produce intended for sale.6.3 Personnel Plan

The company will comprise owners who will be responsible for injecting capital into the business. A manager might be appointed to supervise the work of the officers who will be handling different responsibilities.

7.0 Financial guidelines

7.1 Revenue Forecast

The overall industry dealing with the sale of organic fresh produce normally racks in some revenue totaling 47 billion US dollars. Of the total amount the company expects to rake in a tidy sum of 42000 USD on a monthly basis.7.2 ExpensesThe expenses that may be incurred include putting together the capital that may be required for the company. Some of this money might go into the purchase of the fresh produce before it can be resold in the foreign market. Moreover, some of the resources will go into settling the salary requirements of the staff working in the company. Other expenses will include taxation as well as the cost of obtaining the appropriate documentation before being allowed to make sales in the US market.

Conclusion

The above evaluation provides a clear indication that upon starting the company, it will be bound to be successful. This is especially the case whereby the opportunities in the current market are effectively utilized and the ratings on customer satisfaction are high. This will not only lead to the attainment of high amounts of revenue but also the provision of organic fresh produce geared towards healthy living.

 

References

Barrow, C., Barrow, P., & Brown, R. (2015). The business plan workbook.

McKeever, M. P. (2017). How to write a business plan.

Tuller, L. W. (1993). Doing business in Latin America and the Caribbean: Including Mexico, the U.S. Virgin Islands, and Puerto Rico, Central America, South America. New York: AMACOM, American Management Association.

 

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