I. Executive Summary
This Section's Contents
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Business Overview
[Company Name], located in [insert location here] is a new fish farming company that focuses on using the latest technology and best practices to produce high quality salmon in a sustainable way. The Company uses recirculation aquaculture technology to filter its water and provide the best tasting salmon on the market. [Company Name] aims to be the premium source for fresh salmon in the area.
Products Served
[Company Name] will raise, grow, harvest, process, and distribute fresh salmon. The salmon is certified organic with no GMOs, antibiotics, or growth hormones. The fish will be sold by the pound.
Customer Focus
[Company Name] will primarily serve food processors, grocery stores, and restaurants throughout the area. The target customer profile is as follows:
- 45 processors
- 130 grocery stores
- 1,500 restaurants
Management Team
[Company Name] is led by [Founder’s name], who has been in the fish farming industry for [x] years. [Founder’s name] graduated from the University of ABC, where he majored in aquaculture. While he was in school, he worked for a small fish farm nearby, where he was able to participate in all aspects of fish farming. Upon graduation, he landed a job with one of the country’s largest salmon farmers, where he worked his way up. This experience equipped him with an in-depth knowledge of common practices in the salmon farming industry, from day-to-day tasks to management.
[Company name] will also employ an experienced sales executive to sell to grocery stores, restaurants, and food processors in the region. This will be a skilled salesperson with extensive experience in aquaculture sales.
Success Factors
[Company Name] is uniquely qualified to succeed due to the following reasons:
- The Company will be providing a valuable product to those seeking the fresh salmon that is sustainably produced.
- There are no other salmon farms in the area to serve the growing needs of local restaurants, grocery stores, and other food processors.
- The management team has a track record of success in the fish farming industry and are proven experts in the field.
- The pricing model is formulated to be slightly higher than the competition as it is a higher-quality product, but low enough that customers will perceive value when consuming.
- [Founder’s Name] has lived in [company location] all his life and has raised his family there. He is well-connected in the community, and has the support of its citizens.
Financial Highlights
[Company Name] is seeking a total funding of $400,000 of debt capital to open its fish farm. The capital will be used for funding capital expenditures and location build-out, hiring initial employees, marketing expenses, and working capital.
Specifically, these funds will be used as follows:
- Build-out of fish farm and equipment purchases: $200,000
- Initial marketing expenditure: $10,000
- Property down payment: $100,000
- Working capital: $90,000 to pay for marketing, salaries, and property costs until [Company Name] reaches break-even
Top line projections over the next five years are as follows:
| Financial Summary | FY 1 | FY 2 | FY 3 | FY 4 | FY 5 |
|---|---|---|---|---|---|
| Revenue | $560,401 | $782,152 | $1,069,331 | $1,379,434 | $1,699,644 |
| Total Expenses | $328,233 | $391,429 | $552,149 | $696,577 | $776,687 |
| EBITDA | $232,168 | $390,722 | $517,182 | $682,858 | $922,956 |
| Depreciation | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 |
| EBIT | $225,168 | $383,722 | $510,182 | $675,858 | $915,956 |
| Interest | $6,016 | $5,264 | $4,512 | $3,760 | $3,008 |
| Pre Tax Income | $219,152 | $378,458 | $505,670 | $672,098 | $912,948 |
| Income Tax Expense | $76,703 | $132,460 | $176,985 | $235,234 | $319,532 |
| Net Income | $142,449 | $245,998 | $328,686 | $436,864 | $593,416 |
| Net Profit Margin | 25% | 31% | 31% | 32% | 35% |
