![- Expand the farm to accommodate additional species of fish in the third year.
- Achieve 100% customer satisfaction by providing high-quality products and exceptional
customer service
Business Structure
Aqua Adventure farm is a partnership with various partnership working in the company
[Isaiah Amenya] -- Chief Executive Officer (CEO)-Oversees overall business operations and
strategic direction.
[Silas Yeboah] - Chief Financial Officer (CFO)-Manages financial planning, budgeting, and
investment decisions.
[Esther Sika] - Chief Operating Officer (COO)-Responsible for day-to-day farm operations and
production management.
[Bismarck Acheampong] - Chief Marketing Officer (CMO)-Leads marketing and sales strategies
to promote brand awareness and drive revenue growth.
[Abigail Nyaaba] -Chief Technology Officer (CTO)-Implements technology solutions to
optimize farming processes and efficiency.
[Hannah Gyasi] -Human Resource Manager (HRM)-Handles recruitment, training, and
employee relations.
[Amina Alhasan] - Quality Assurance Manager (QAR)-Ensures compliance with food safety
standards and quality control measures.
[Georgina Karen Kangah] - Sustainability Officer (SO) -Develops and implements
environmental sustainability initiatives.
[Rodney Clottey] - Supply Chain Manager (SCM)-Manages procurement, inventory, and
distribution logistics.
[Thomas Opong Mensah] - Legal Counsel (LC)-Provides legal advice and ensures compliance
with regulations.](https://image.slidesharecdn.com/avdventure20farm-240418003812-da681f6a/85/1AQUA-ADVENTURE-20FARM-pdf-pdf-For-jhabi-5-320.jpg)
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- 1. BUSINESS PLAN BUSINESS PLAN BUSINESS PLAN AQUA ADVENTURE FISH FARM CONTACTS:0558058459/0593664286 Email: aquaadventurefishfarm123@gmail.com Location: Ada-foah G/A 2024
- 2. UNIVERSITY OF EDUCATION, WINNEBA DEPARTMENT OF SOCIAL STUDIES EDUCATION COURSE TITLE: ENTREPRENEURSHIP COUSRSE CODE: SSE 351 LECTURERS: DR. SAMUEL POATOB, DR. ALEXANDER NII ADJEI SOWAH, MISS DORINDA NPOINDEN NYALA; M BUSINESS NAME: AQUA ADVENTURE CATFISH FARM BUSINESS PLAN MAJOR AREA: SOCIAL STUDIES (GROUP 39) NAMES INDEX NUMBER 1st meeting (19/02/20 24) 2nd meeting (06/03/2024) 3rd meeting (13/03/2024) 4th meeting (19/03/2024) ISAIAH AMENYA 220029302 / / / / ESTHER SIKA 220029280 / / / / BISMARKACHEAMPONG 220029082 / / / / SILAS YEBOAH 220029309 / / 0 / GEORGINA K. KANGAH 220029049 / / / / ABIGAIL NYAABA 220029113 / / 0 / HANNAH GYASI 220029263 / 0 / / RODNEY CLOTTEY 220029057 0 / 0 / THOMAS O. MENSAH 220029127 0 0 0 0
- 3. CONTENT PAGES A. Executive summary...1 B. Business/company description .2 Mission statement Business objectives and goals Business structure C. Market research.6 D. Product and Service Line.7 Industry Target market E. Marketing and sales strategies..8 4Ps of marketing F. Funding request9 G. Financial projections10
- 4. Executive Summary Aqua Adventure Farm is partnership fish farming business located at Ada Foah an area with access to a clean and natural water source. Our mission is to provide high-quality, fresh, and organic fish products while promoting sustainability and environmental protection. Our target market include; restaurants, hotels, fast food eateries, health-conscious individuals and families who value fresh and natural food. We aim to produce and sell 500 kg of catfish per month within the first year, increase sales by 20% in the second year, and achieve 100% customer satisfaction by providing high-quality products and exceptional customer service. We are seeking a funding request of Ghc120, 000 whiles partners will contribute 180,000 making a total of Ghc300, 000 to cover startup costs, including equipment, labour, fingerlings, packaging materials, and marketing expenses. Our financial projections indicate that we will break even in the second year and start making a profit in the third year. Company Description Aqua Adventure Farm is a partnership business established in 2024 and it is registered by The Registrar of Companies. Our farm is designed to accommodate various species of fish and provide them with the best living conditions. We use organic and environmentally friendly practices to ensure the health and wellbeing of our fish. Our farm is equipped with modern technology to monitor and regulate water quality, temperature, and oxygen levels. We operate on Mission Statement Our mission is to provide high-quality, fresh, and organic fish products while promoting sustainability and environmental protection. We are committed to using natural and environmentally friendly practices to ensure the health and wellbeing of our fish. We aim to contribute to the local economy and provide job opportunities for the community. Business Goals and Objectives - Produce and sell 500 kg catfish per month within the first year. - Increase sales by 20% in the second year.
- 5. - Expand the farm to accommodate additional species of fish in the third year. - Achieve 100% customer satisfaction by providing high-quality products and exceptional customer service Business Structure Aqua Adventure farm is a partnership with various partnership working in the company [Isaiah Amenya] -- Chief Executive Officer (CEO)-Oversees overall business operations and strategic direction. [Silas Yeboah] - Chief Financial Officer (CFO)-Manages financial planning, budgeting, and investment decisions. [Esther Sika] - Chief Operating Officer (COO)-Responsible for day-to-day farm operations and production management. [Bismarck Acheampong] - Chief Marketing Officer (CMO)-Leads marketing and sales strategies to promote brand awareness and drive revenue growth. [Abigail Nyaaba] -Chief Technology Officer (CTO)-Implements technology solutions to optimize farming processes and efficiency. [Hannah Gyasi] -Human Resource Manager (HRM)-Handles recruitment, training, and employee relations. [Amina Alhasan] - Quality Assurance Manager (QAR)-Ensures compliance with food safety standards and quality control measures. [Georgina Karen Kangah] - Sustainability Officer (SO) -Develops and implements environmental sustainability initiatives. [Rodney Clottey] - Supply Chain Manager (SCM)-Manages procurement, inventory, and distribution logistics. [Thomas Opong Mensah] - Legal Counsel (LC)-Provides legal advice and ensures compliance with regulations.
- 6. Market Research Industry and market environment: The fish farming industry has been growing steadily over the past few years, driven by increasing demand for fresh and organic fish products. According to a report by Grand View Research, the global fish farming market size was valued at $256.9 billion in 2019 and is expected to grow at a compound annual growth rate of 5.0% from 2020 to 2027. This growth can be attributed to factors such as the rising popularity of seafood, the growing health consciousness among consumers, and the need for sustainable food sources. Customers: Our research indicates that our target market is health-conscious individuals and families who value fresh and natural food. They are willing to pay a premium for fresh and organic fish products and prefer products that are packaged in eco-friendly and biodegradable materials. They are also interested in the sustainable practices used by fish farms and are willing to support local businesses. Competitors: Our main competitors are other local fish farms and supermarkets that sell imported fish products. However, our differentiation strategy is to offer fresh and organic fish, provide exceptional customer service, and promote sustainability. We will also differentiate ourselves by offering a variety of fish species, including tilapia, catfish, and trout, and by using environmentally friendly practices to ensure the health and well-being of our fish. Products/Services Line Aqua Adventure Farm will offer the production of catfish in the initial stages of the business and later expand to other species of fish including tilapia and trout when the business thrives. Our fish will be available in different sizes and cuts to accommodate different customer preferences. We will sell our fish fresh or frozen, depending on customer demand. Our products will be packaged in eco-friendly and biodegradable materials. Industry
- 7. Aqua Adventure Fish Farm will operate within the aquaculture industry, focusing on sustainable and environmentally responsible fish farming practices. The aquaculture industry has experienced significant growth in recent years due to increasing global demand for seafood, concerns about overfishing, and the recognition of aquaculture as a viable solution to supplement wild-caught fish production. Competitors in the aquaculture industry include both large-scale commercial fish farms and smaller, niche-focused operations. Some of the key competitors in the industry include: 1. Large Commercial Fish Farms - These operations typically focus on high-volume production of popular fish species such as salmon, tilapia, and trout. 2. Niche Aquaculture Farms - Niche operations may specialize in specific species or unique farming methods, such as organic or sustainable aquaculture Aqua Adventure Fish Farm aims to differentiate itself from competitors through the following strategies: i. Emphasis on Sustainability - Aqua Adventure Fish Farm will prioritize sustainable aquaculture practices, including low- impact farming methods, responsible feed sourcing, and minimal antibiotic use. ii. Focus on High-Quality, Specialty Species - Rather than competing directly with large commercial fish farms, Aqua Adventure Fish Farm will focus on producing high-quality, specialty fish species that are less commonly available in the market. Iii. Community Engagement and Transparency - We will engage with local communities through educational programs, farm tours, and outreach initiatives to build trust and transparency around our farming practices Iv. Product Differentiation and Branding
- 8. - Aqua Adventure Fish Farm will differentiate its products through branding that emphasizes the farm's commitment to sustainability, quality, and ethical production methods. - By building a strong brand identity, we aim to create a loyal customer base that values our products for their unique qualities and ethical standards. Target Market With the location of our business in the Ada East District and particularly Ada-foah (Lolonya- kope) to be specific, we hope to enjoy a huge patronage of the large population there. The following include the category of people and business that we will market our tilapia to; restaurants, hotels, fast food eateries, households and health conscious individuals and who value fresh and natural food. We will also target supermarkets that are interested in sourcing fresh and organic fish products. Marketing and Sales Strategies We will use a mix of online and offline marketing and sales strategies to reach our target market. Our online strategies will include social media marketing, email marketing, and online advertising. Our offline strategies will include participating in local farmers' markets, attending food expos, and distributing flyers and brochures. We will also offer promotions and discounts to attract new customers and retain existing ones. We will also resort to the 4ps of marketing strategies. Product Our products are in high demand in the market. There is great need and demand for catfish. We intend to grow our product to be very qualitative and beat down all imported fish in the market. Our products will be fresh or frozen, depending on customer demand, and will be packaged in eco-friendly and biodegradable materials. Price
- 9. Our product price would be fair to those in our target market. We also have considered our prices and have seen that selling our products by giving a discount will increase customer demand and will give us much higher profit as compared to other sellers in the market who may be selling at a higher price than us. Place We have a greater advantage as buying from us will mean the buyer will not incur transportation cost as our farm house is close to all our target market. We will also target local restaurants and supermarkets that are interested in sourcing fresh and organic fish products. We will participate in local farmers' markets, attend food expos, and distribute flyers and brochures to reach our target market. Promotion We will use a mix of online and offline marketing and sales strategies to promote our products and reach our target market. Our online strategies will include social media marketing, email marketing, and online advertising. Our offline strategies will include participating in local farmers' markets, attending food expos, and distributing flyers and brochures. We will also offer promotions and discounts to attract new customers retain existing ones. Funding Request 1. Equity Investment Aqua Adventure Fish Farm plans to seek equity investment from private investors or venture capitalists. The farm will offer ownership stakes in exchange for capital investment. It is projected that an equity investment of Ghc70, 000 will be sought to support initial start-up costs, facility development, and operational expenses. 2. Small Business Administration (SBA) Loan: The farm will apply for a Small Business Administration (SBA) loan to secure additional funding for start-up and operational expenses. The SBA loan program offers favorable terms and interest rates for small businesses. Aqua Adventure Fish Farm plans to request a loan amount of
- 10. Ghc10, 000 to supplement the initial investment and ensure sufficient working capital. Farm plans to secure a line of credit with a limit of Ghc50, 000 to ensure liquidity and financial stability during the initial phases of operation. 3. Contribution from partners: members contributing a total amount of Ghc 180,000 SOURCE OF FUND AMOUNT (GHC) Equity Investment 70,000 Small Business Administration (SBA) Loan 50,000 Contribution from partners 180,000 TOTAL 300,000 Financial projections Balance sheet Details YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 Sales 250, 000 300,000 375, 000 420, 000 462, 000 Direct material cost (160, 000) (160, 000) 170, 000 205, 000 240,000 Direct labour cost (60, 000) (60, 000) (60,000) (60,000) (60,000) Gross Profit 20, 000 80, 000 145,000 155,000 162,000 Indirect cost (50, 000) (80, 000) (90,000) (90000) (90,000) Net Profit (20, 000) 0 55,000 65,000 75,000 Our financial projections indicate that we will break even in the second year and start making a profit in the third year. We project revenue of Ghc250, 000 in the first year, Ghc300, 000 in the second year, and Ghc375, 000 in the third year. We project expenses of Ghc280, 000 in the first year, Ghc30, 000 in the second year, and Ghc100, 000 in the third year. Our break-even point is 300 kg of fish per month.
- 11. ITEMS YEAR 1 YEAR 2 YEAR 3 Beginning cash Receipt (Sales) - (20,000) (0000) Cash Inflow 250,000 300,000 375,000 Operating Expenses (38,000) (38,000) (40,000) Fingerlings (37,000) (37,000) (50,000) Feed (78,000) (78,600) (100,000) Chemical (6,000) (8,200) (12,000) Labour (60,000) (60,000) (70,000) Harvesting and Haulage (47,000) (52,400) (65,000) Others (4,000) (5,800) (8,000) Total Outflow (270,000) (280,000) (345,000) Cash Available 250,000 280,000 375,000 CASH BALANCE (20,000) 0 30,000