Small and Medium Enterprises Development Agency of Nigeria

Business Proposal Line of Business Name : : Fish Farming CHEF Catfish Co. January 2011 Nigeria

Expected date of Start-up : Location Objectives :

: - To earn profit - Supply a nutritious product to the Nigerians - Supply fresh fish, that whenever you want to eat just get it and kill it, unlike of the frozen fish it has chemical to preserve the freshness. - Get a market share of the growing demand of catfish in Nigeria.

Business Proposal

Relevant experience

: Partners have no experience in catfish farming but one of us has an existing business now.
: Partners are graduates of different courses. Economics, Accounting, Business Administration and a Doctorate in Finance.

Education

Personal Background : Came from a family of businessmen, aggressive , determine to succeed, patient . Detailed Products : Catfish (Clarias Gariepinus)

SWOT ANALYSIS:

Strength Good quality of water for catfish farming. Market opportunity People do not want to eat beef so they switch eating catfish. People eat catfish for a long life. Catfish is very nutritious, low calories, low carbohydrates and high protein, low in fat. Easy to prepare and great taste. High growth rate

Weaknesses No experience in this catfish farming No enough capital No expert in fishery biology. Needs adequate power supply so that the catfish will have a fresh water everyday to grow big.

SWOT ANALYSIS:

Opportunities More health conscious people eat catfish. High demand of catfish in the market Higher survival in catfish farming Demand of catfish is all year round Catfish market value is twice as high as that of Tilapia a closest rival in domestic fish rearing.

Threats High competition Very high cost of feeds Fingerlings will die if not properly nurtured.

Market Plan
Customers/Consumers: People of Abuja, Nigeria Hotels Restaurants Food vendors Supermarkets

Market Plan
Suppliers: Supplier of feeds Supplier of Fingerlings Suppliers of vitamins for fingerlings. Supplier of tanks

Market Plan
Competitors:
Areo

Farmers Berens fisheries Kadi Fisheries Junio Fisheries Korodu fish farm estate the largest in West Africa.

Market Plan
Sales Forecast:
JanMay 0 June July August Sept. Oct. Nov. Dec

1,500 3,300

1,500 3,300

1,500 3,300

1,500 3,300

We forecasted or projected our sales for 1 yr for about 6,000 pcs and have a sales of US $ 13,200. Assumption that all fingerlings are harvested and sold.

Market Plan
Marketing Program/Strategies
Distribution

of flyers Complementary cards Expo exhibition Do the E-commerce promotion Go directly to the target market

Production Plan
Production/Operations Process: First Step- Put the fingerlings in the 1st pond. Nurture and fed. Second after 2 mos. Transfer the juvenile size to the 2nd pond.

Production Plan
Production/Operations Process: Third step 2 mos. After again, transfer the table size catfish in the 4th pond. Fourth step . after 2 mos. again, Transfer the catfish which is now ready for harvest in the 4th pond.

Production Plan
Production/Operations Process: It takes 6 mos. Nurturing and feeding before harvesting the grown up fingerlings. We just need a net to transfer the product and to be sure that the fingerling will grow in our desire size or size that it can be harvested. Every pond should have a clean water everyday.

Production Plan
Production Layout:

Fingerlings

Juvenile

Table size

Harvest size Water Bio aerator (oxygen for catfish)

VIDEOS

HUMAN RESOURCES

Organizational Structure
Eyiuche Theodora Unachukwu Technical

Marketing Manager Maria Fe San Esteban Reyes

Financial Manager Hamidah

Human Resources Manager A Chandima De Silva

Labor-2

Job Discripton
Chairman : all coordinating activities,Negotitation to supplier, Marketing Manager: decide price, distribution channel, Finance Manager:Decide funding ,payment , accounting and auditing Human resources Manager: decide salaries, recruitment labor, facilities for labor Technical Assistant: give guidence to maintain the catfish farm

FINANCIAL

CASH FLOW
Cash Flow Forecast Year 2011 (US$K) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Actual Actual Actual Actual Actual Actual Actual Project Project Project Project Project 11 2.625 0 0 5.239 6.216 0 6.216 2.584 200 100 607 111 3.602 7.852 10.466 69.024 71.638 6.216 62.160 0 2.584 200 100 607 111 3.602 0 2.584 200 100 607 111 3.602 6.216 62.160 6.216 0 6.216 2.584 200 100 607 111 3.602 6.216 0 6.216 2.584 200 100 607 111 3.602 Carry-forward from last month (A) 14.975 11.980 8.985 5.990 2.995 Cash Receivables Revenue (B) Cost of products Salaries Rents Installments Others Expenses (C) Carry-forward to next month (A+BC) 0 0 0 200 100 0 0 0 200 100 0 0 0 200 100 0 0 0 200 100 0

0 6.216 6.216 0 6.216 6.216 200 100 200 100 200 100

2.584 2.584 2.584 2.584 2.584 2.584 2.584

0 0 0 0 0 607 607 111 111 111 111 100 111 111 2.995 2.995 2.995 2.995 2.984 3.602 3.602

11.980 8.985 5.990 2.995

11 2.625 5.239

7.852 10.466 69.024 71.638 74.252

Required Funds and Fund Raising

Required funds Amount (US$) 1,389 556 222 33 800 300 83 Fund raising Own capitals Chandima US$ 4000 Hamida-$ 4000 Eyiuche- $4000 Fe - $4000 Loans from family, relatives and friends (details and loan terms) Family 2,358x 3% x 365 days Public grants (details and conditions) Total 3,383 8,335 4,165 1,000 500 420 555 1,4975 Loans from commercial banks and/or other financial institutions (details and loan terms) Amount (US$) 16,000

Assets purchase / leasing Operational funds

Land Pond construction Water pump Fishing Nets Computer & Office Eq Registration Fee Other Accesories

2,078

Feed Expenses Fingerling input Labor Cost Rent Vehicle Lime Expense Miscellaneous Total

Total (A)

18,358

Total (B)

$18,358

Income Forecast
Start-up (US$) (3 month) First Harvest1 year later (US$) Details of revenues, costs of products and operational expenses

Revenues (1) Costs of products (2) 2584

600
Operational expenses

6216 Revenue: Q xP=2800 x 2,22= 6216 2584 Cost of product: Depreciation + variabel cost Harvest : 1 year 4 times After 1 year Interest + princial per month 600 3%x 2255 300

Salaries 300 Rents Vehicle Interests / installments Others 3817 3424,19

0 333

607,19 333

Sub-total (3) Income before tax (1) (2) (3)

(3.817)

2,791.81

Production Cost
Items A.Depreciation Cost B. Salaries 100X2 pesonX 3 month Total fixed Cost Cost ($)/annual 285 2,400 2,685 Cost($)Harvest (4x) 71,25
600 671.25

Items Feed Fish expenses Fingerlings Fertilizer Miscellaneous Total variable cost

Cost ($) 1,667 833 56 111 2,667