Venture creation Essay

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Venture creation

After certain period of being Job holder hey realized that this was not enough for them and was not something of their interest and used to discuss about starting up with some kind of business after they are home from office every night. One day they finally decided to return back to their own village Butyl and start up with some kind of business. But they were actually unknown about what to start with. After some period of time they finally came up with an Idea of starting up the business In partnership, “The goat and the poultry farm”. “That’s how It started,” Vishnu Pander said. At the time It didn’t seem Like a business, really. “We really don’t have any source of Inspiration or advice for coming to this field but it is our keen interest from our college days to do something different, something for society and for ourselves which has leads us to do this business today’, said Vishnu Pander. Every business has their own difficulties at the time of startup. Among which source of finance is one of the biggest. But they were quite lucky in this case as their families were very supportive so they managed to collect the amount of forty lacks for their start up from their family.

Now their total capital has increased to 60 to 65 lacks approximately. Though there was no problem of finance, Two years time was not easy, said Vishnu Pander. They started from the zero level without any training so they actually TLD have much knowledge In the field they were In. But with the time and experience they realized that training Is the must so they took the training related to poultry farming which has added the value to their business in today’s date.

He also added that due to the shortage of people in their starting days they used to do all the works on their own from gazing the cattle to raising them and to bring them to the market. Both the partners worked day and eight to make their business a grand success. Furthermore he said that, land was the most to do the business of poultry farm since they don’t had their own they took the land on lease in their start up days but later they were successful enough to buy the same land they were using on lease and today they are doing the business on their own land which they believe to be their first achievement and a source of motivation as well.

Talking about the number of workers Vishnu Pander said that, we are seven In numbers Including me and my partner. We don’t flatter ourselves by saying owner UT rather we would Like to call our self workers too because this field Is such a field which requires the effort and hard work of everyone. So we both Including our five workers spend our full time in the development and growth of our farm. And also demand is quite fluctuating in this business and is seasonal. According to Vishnu Pander, ‘During the season of wedding the demand is very high as compared to other seasons’.

The demand of goat is low in summer and the demand of chicken is low in winter due to which there is fluctuation in the sales turnover as well as profit. Their rent information on monthly sales is approximately five lacks and their monthly profit is approximately 1. 5 to 2 lacks. With the experience in the field of Goat and poultry farming, they have further expanded their business to Fresh House and a Fast food which they claim to be a great success. They too shared about their future plans.

They further plans to open up the restaurants and resorts, more fresh houses and more branches. They are currently working on an establishment of a new branch in Braggart area. Their entrepreneurial spirit that drove the production expansions s now being applied to advancing the business technology and matching it more to the international level. They are also planning of changing the chicken house setup, to have more space for the chickens through a European style space – with higher nests, smaller slats and more run space underneath.

Vishnu Pander said they want to operate a business that is constantly challenging boundaries and looking for the best solutions to problems. Though the work has not yet been started they are quite hopeful to implement their entire plan in to action. “This business has changed everything about us in a sense. When we first started out we were really shy as there were people who criticize us, but the farmers market really helped to open us up,” Vishnu Pander said. “It takes self-determination, if it doesn’t go right you still find a way to fix things.

And it takes time management, with being able to prioritize your work and its daily tasks and still keep up with family life. We get to believe in what we do, and that’s huge. ” I believe both Vishnu Pander and Legman Pouted understand how to run a business well because they see the “big picture. ” They were not always sure of the choices they were making, but with trial and error, they said, he business became successful. “It really doesn’t seem like you’re doing much at the start – when we started with zero knowledge, we didn’t really think anything of it,” Vishnu Pander said. Fauve got to not be afraid to make mistakes and switch it up. Most businesses don’t even make a dollar in the first two years, but in the end, it is worth it. ” 1. 2 Business Profile 1. 2. 1 Introduction Name: The goat and the poultry farm Owner: Vishnu Pander and Legman pouted Location: Butyl Year of operation: 3 years Numbers of employees: 5 Nature: Partnership (2 Partners) 1. 2. 2 Financial details Investment: 40 lacks Sales: fluctuating sales High in the season of wedding and low in other seasons.

Also demand of goat is low approximately 5 lacks Revenue: Monthly revenue RSI . 5 to 2 lacks (Approximately) Service details Chicken and goat Meat of chicken and goat 1. 3 Vision To provide true value added to our customer and the end consumer with the increased quality of the products. 1. 4 Mission To continuously improve the poultry industry by providing the best poultry at the best overall value to our customers through the quality of our people, process, and technology. 1. 5 Values Increased value to our customers: Through the best people

Through lower cost (process) Through the highest quality Through best available technology Through integrity in everything that we do personally and professionally CHAPTER TWO New venture creation process Business is not created overnight. They are outcome of long incubation, research and consistent work. Entrepreneurs have to pass through systematic way of creating business. For any new venture creation following steps have to be prepared. 2. 1 Idea Generation Traditionally, poultry farming is considered as a lower call business.

However, in the recent years the commercial poultry farming is emerging as a viable economical enterprise. It is estimated that over 1 594,400 households are rearing poultry birds (CBS, 2010). Since last decades, commercial poultry farming for meat and eggs is being quite popular especially around the urban centers. It is beneficial for consumers as well as business firms as the consumer can easily find eggs and meat through these farms as well as the business firm can earn a handsome amount of profit.

In order to address the emerging problem of unemployment and the importance of contribution of poultry farming in GAP, the ideas for such poultry farm have been set up. 2. Feasibility Study Feasibility studies aim to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the environment, the resources required to carry through, and ultimately the prospects for success. In its simplest terms, the two criteria to Judge feasibility are cost required and value to be attained. 2. 2. Environment Feasibility: The Chicken and its products are very rich source of protein of which we all agreed to that – you and I need the proteins derived from chicken to maintain healthy living. It is generally believed that every child needs not less than an egg a day for their normal growth. While every adult needs like ten in a week; Poultry also provides meat for delicacies – no tribe or religion that forbids chicken meat. Everyone likes it, that’s why poultry products sell very fast and in high demand. In this scenario establishing Poultry Farming is a bit capital intensive – it’s all like trading money to make more money.

One needs to prepare for this especially if you want to start on a higher scale. But need to be assured of making back whatever amount of money have been invested in the business in multiple folds within a short period of time. Before venturing into poultry farming business, one need to seat back and do proper calculation and planning; make sure to have idea of all the costs involved. From this view point the poultry farm’s financial analysis on the basis of current market prices and total investment had been conducted, which helped to evaluate whether business is profitable or not.

Moreover the farm could see bulk of customer and increasing demand for its product which indicated that they can generate revenue enough to offset the cost. 2. 2. 3 Growth Feasibility: Currently it seem to be no high level, hi-tech poultry farms in this country like the ones we used in ASSAI, Europe and Asia. Any investor who have enough nerve and needed capital to venture into it will have reasons to smile within a short period of investment. Since there is no need to import chicken from other countries because the ones the local farmers produces are enough to meet the demand, the poultry farm has a high chance of growth in future.

There is certainly huge market for poultry rearing but the question is: Who will take advantage of the opportunity in the industry to create wealth. 2. SCOPE AND CONSTRAINTS So far as the scope of poultry in Nepal is concerned, poultry farming has a great and good scope in present context . People is being engaged in poultry farming because of more profit. Some of the reasons for the increment in its scope are summarized under the points given below: Increase in the number of the hatchery farms and consumers of the poultry product. People are being educated thus consumers of poultry products have been increased.

Products can be obtained within short period of time in case of the meat production. Poultry farming provides the employment opportunity all round the year. Poultry meat, egg as well as litters can be used. Talking about the constraints of the poultry farming in Nepal: Unavailability of the required materials like vaccines, medicines in time. Some disease which appears suddenly like bird flue has become a great threat to Naples poultry farming. Socio-cultural and technical constraint. No proper and adequate support from the government side. 2. Business Plan Development 2. 4. 1 Selecting a Poultry Niche The poultry industry is a broad niche. There are many sub-sectors in the poultry industry which a person can tap into. When poultry farming is mentioned, a lot of people take that to mean chicken rearing or turkey rearing alone but poultry farming is a very wide business with different aspects. Below are niches in the goat and the poultry farm is into: Meat production (Both chicken and goat) Selling chicken and goat alive Meat processing, packaging and marketing. The poultry farming is very wide.

Therefore, they choose their area of knowledge and select the most attractive aspects to concentrate on. 2. 4. 2 Start-up Capital Investment The poultry farming business is capital intensive; depending on the scale, location of the farm and the type of management technology used. This is a small scale poultry farm being run behind a capital of between 30-40 lacks. 2. 4. 3 Poultry Location A good location is vital to the success and profitability of the poultry farm. An ideal poultry farm should be sited where there’s a large availability of cheap land and at the same time; should be close to areas with high population density.

It’s not appropriate to site the poultry farm within a residential area because of the offensive odor it produces. Considering this factor the poultry farm is in a place where the odor and noise does not disturb other people also is in the secure place which is favorable to the customers as well as to the owner. 2. 4. 4 Housing of the chicken and goat a. Free Range System for goat-: Under free range poultry farming system, goat are allowed to roam around on their own circled land where the grass are kept earlier. B. Cage System for chicken-: As for the cage system, metal cages are constructed inside a building to house the birds.

The cages are usually split into different compartments to house small groups of birds I. E. 100-200 birds in a single compartment. Feeding and water are kept by the worker. Poultry housing structure is lilt at a particular angle; taking sunlight and wind into consideration. 2. 4. 5 Poultry equipment and appliances There is a very long list of equipment and facilities to put in place in order to fully manage a poultry farm. You would need to construct a house for the birds, provide feeders and drinkers, a good waste disposal system, source of water, lightening and heat, storage space.

Therefore, a list of all the items are to be prepared, find out the prices and compared different prices to further take an idea of the costs of setting up the poultry farm. The following equipment may be needed for poultry farm and their sees: Feeders Drinkers Perches Lighting system Waste disposal system Incubator Heaters or brooders Cages and coops 2. 4. 6 Feeding Feeding is a major aspect of poultry farming. In fact, about 70% of your expenses would go towards poultry feeding. Therefore, it is imperative to figure out the feeding aspects of business before going into it.

They focused on two ways about feeding: Producing the feeds by them self Buying already-made poultry feeds that cannot be produced by themselves. Feed Resources include: household cooking waste; cereal and cereal by-products; roots and tubers; oilseeds; proteins; aquatic plants (Leman, Azalea and Pomade aquatic); and, Commercially prepared feed. The importance of these feed resources for poultry depends on their availability in sufficient quantities for farm use, simple preparation and processing methods, knowledge of the potential nutritive values and (for comparison) the price and availability of conventional commercial feeds. . 4. Poultry Farm staffing and manpower Operating a poultry farm is not labor intensive if the use of technology is employed. With respect to staffing, the number of manpower needed is also dependent on the size of the farm. 2. 4. 8 Health Just like people need regular health check-up to stay in good shape, the chicken and goats farm also need regular check-up. They need proper vaccines and medications to prevent diseases and promote growth. Thus the consultant and a veterinary doctor are in easy contact for giving vaccinations and providing proper health care for the chicken and goat. 2. 4. Marketing Another factor to give consideration to is the marketing aspect of the poultry business. The strategies made for marketing were that the farm produce must be collected, packed and transported in good condition to the cities and distributed to tillers near consumers’ homes. 2. 5 Venture launch The farm was launched at the year 2011 by the equal contribution from the two partners with the aim of raising chickens and goat for meats that provides a rapid return on the investment. Initially they took the land at lease for the establishment of their farm and managed the capital needed from their parents.

The farm intends to provide superior texture, hygiene and play the vital role to increase demand for poultry products. 2. 5. 1 Time Frame for Execution It took around a month for the business plan and 2 to 3 days to complete registration f business under the brand name The goat and the poultry farm. Then, finding a location and setting up the office took two weeks and hiring the staff took about one month. In between site selection and infrastructure construction took additional one month. Therefore it took around four month to commercially start its operation. 2. 5. Decision to launch new venture With the changing lifestyle and increasing population there is increasing demand of different variety of food among which meat is the one. More farmers are into goat and chickens farming lured by better income prospects compared to cow and buffalo arming Specially, in the densely populated areas and cities more of the restaurants and fresher house are being constructed considering the increasing demand for meat which ultimately calls for the more establishments of the farms to provide huge number of live stocks like goat and chicken.

Also, this has become the major source of employment in the developing country like Nepal. Thus the decision was taken to launch the farm and with the period of time farm has made significant progress towards achievement of its goal of providing value to the customer through improved quality and service. 2. 5. 3 Action Plan for Operations The action plan was prepared in order to brand the farm as the goat and the poultry chicken and goat for the supply to the traders and middle man. The brief summary of action plans are as follows; Order Placement by customers via telephone or farm visit or any other mode of communication.

Interview and face to face planning and discussion with the customers Fast order processing and on time delivery. Quality and hygienic product. CHAPTER THREE MARKET CREATION As a country develops, more of its consuming population loses touch with the village and food producers. Thus more specialized marketing services are needed. Farm produce must be collected, packed and transported in good condition to the cities and distributed to retailers near consumers’ homes. This also calls for grading and storage of the product.

The more developed the country becomes; the greater is the variety of products that can be economically produced. All this must be provided at a cost that consumers can afford. For any new venture to become successful they need to have strong relation and network with the firms and organization, only then their business can flourish. They should have link so that they will be approached by the firms. Moreover, because of demand of poultry products and unemployment in the country , this market has attracted more and more such poultry farms and as a consequence, this farm is facing intense competition.

In order to counter these competitions in the market, SMS has to come up with more competitive strategies and careful planning. 3. 1 Understanding poultry market Before creating the position in the market first it is important to understand the poultry market. This market comes up with the certain characteristics: Poultry should be supplied from an accredited abattoir. There are many contacts to be made in the marketing structure. For example, producers, buyers, sellers and customers. All have information indicating the product which the customer demands.

Customers expect poultry to be a constant product, not changing with season, time of day, severity of rains etc. The customers expect a constant throughput, not expecting serious shortfalls or gluts. Production schedules need full control. The product may be subject to the laws of supply and demand. An oversupply will lead to a fall in price and profitability. An underplays may cause a rise in price but the customer may purchase other products to the detriment of later sales. Markets can be supplied under contract.

For example, a particular buyer may want a constant order filled each week to a particular products specification for which he will pay a premium. There is a standard of quality which the market demands. Customers will not return to buy more if the product is unwholesome. At point of purchase, quality relates to presentation as much as anything else. Assessment of quality by the customer may be fairly subjective if not almost unreasonable. The market may respond to advertising. Test marketing the product may or may not indicate the results of implementation of full marketing strategy. 3. 2 Situation Analysis 3. . 1 Customers For the poultry farms their customers are high quality restaurants, butchers, farm shop and farmers market outlets throughout the country. The farm addresses the chicken for the raising purpose. So the volume of customers for farm is quite large. It serves both the middle man and the end users. Because of the globalization and changing life style of people the demand of poultry products are high in city areas as compared to the villages so the important customers are be the reputed restaurants and party venues. Fulfilling the demand of these restaurants and party venue has added a value to the farm. . 2. 2 Competitors When it came into existence, there was not much farm providing such services. Farming business was Just in a emerging phase, There were only few and were growing and making profits. As mentioned earlier, the situation of competition is growing in the market as more other such poultry farms are coming into existence. However, its major competitor is New Sang Poultry Farm in Butyl. Other small farms can also be a threat to this farm in future so it has to design strategy and plan nominative enough to counter these competition in the market. . 3 Target Markets It has already been about 3 years that the farm has started its operation and it has been growing and extending its services. Basically its target market is the restaurants and wedding party venue conducting wedding and other ceremonies like brakeman, passing, birthday, college programmers, etc. In future, it is also looking for going into international market by exporting the meat. 3. 4 Positioning The company has been able to position itself as a new business venture that serve emerging market in Nepal.

It has been able to address the need and expectation of its customer. Their tagging titles “Fresh Diet, Fresh Life”. Despite of such competition it has been able to sustain in the market and address the need of the customers. 3. 5 Pricing Since SMS is in a market where there exists tough competition. They initially charged less than its competitors but now it’s price is based on going market rate. Since it is a seasonal business the rate fluctuates on a seasonal basis. On the season of wedding the price is high and in off seasons the price is lowered down so as to capture market. 3.

Live Goat and chicken marketing for Meat Purpose Live goat and chicken marketing for meat is largely a traditional business and it operates mostly informally. There are different models in practice but the farm has adopted mainly two ways: First is where consumers have direct contact with the farm, there is no involvement of middleman. In the district market centers (primary markets) and road side markets, the village traders and or butchers/ vendors are involved between consumers and the poultry farm. But in major markets like Katmandu, (terminal markets), many different supply models operates involving efferent market functionaries.

There are different agricultural markets (Tartaric Bazaar) that promote agricultural and poultry farm products. These markets can help to reach different levels of customers like Hotels, Restaurants, Hostels, and final consumers directly in large quantity. The farm is also setting up a network with its existing customers to another customer and increases the customer base. It is developing a supply network of its own to reach different customers. Healthy and fresh poultry and farm product can easily attract customers without much effort.