Rice is a staple food across several countries around the world. This makes it a very important area of investment among investors.
With different varieties to choose from, investors have taken advantage of the popularity of this crop to grow their investments.
However, despite the interests and the investments committed to this business, a lot of entrepreneurs have failed to grow their investments.
This might not be unconnected with the absence of a business plan. The business plan provides the needed framework from which to implement sound business strategies. It is in the light of this that this rice farming BUSINESS STARTUP GUIDE is written.
The presence of this (business plan) provides the entrepreneur with a clear line of action to take or implement leading to the growth and success of his/her rice farming business.
Here is how to start a rice farm.
Table of Contents
Executive Summary
To be located in Arkansas, Roushney’s Rice Farm is a rice farm that will be specialized mainly on commercial rice farming.
Apart from the commercial cultivation of rice, our business interests will also include a rice mill where the produced rice will be processed and well packaged for domestic and international consumption. The export of our product will commence 5 years into our business operations.
Products and Services
Our sole product will be the production of rice on a commercial scale. Apart from the commercial cultivation of rice, other services we offer include rice processing for other farms and also the packaging of this product for domestic consumption and in the nearest future (5 years), the international market.
Vision Statement
Our vision at Roushney’s Rice Farm is to be among the top 5 rice brands in America within 7 years of commencement of business operations.
Mission Statement
Our mission is to commercially produce and process rice under the best conditions while maintaining the highest standards of quality recommended by the relevant regulatory bodies.
Also, with the help of an effective marketing department, we will be involved in aggressive marketing aimed at ensuring our product is consumed in every city in the United States, thereby gaining a substantial market share.
Competitive Advantage
Our competitive advantage is the world-class marketing department established at Roushney’s. This department is manned by experts in marketing with years of experience in the agro-industry. With the vital contribution they will make, our rice farming business will be propelled into the big league within the shortest possible time.
Also, this rice farming business will have a highly motivated workforce that will be regularly given incentives to get the best from them. In addition to this, a work-friendly environment will be provided to enhance productivity.
Target Market
With the large market for rice both domestically and internationally, our target scope is considerably wide. Apart from those along the rice value chain we will be targeting domestic consumers that include households, eateries, hotels, schools and also export these to rice consuming countries across the world.
Sales Projection
We have come up with a 3 year projected sales from research conducted. The results show promising growth for our sales. This uses current economic realities. It, however, discounts unforeseen factors such as sudden inflation and natural disasters. The chart below summarizes the findings of the research conducted on our sales projection;
Source of Revenue
Our source of revenue generation will come from our income-generating activities which include the commercial cultivation of rice, in addition to the processing of the same which will be sold to the open market consisting of both domestic and international.
Publicity and Advert Strategies
Led by a strong marketing department, we will be using the latest tools in promoting our products and services. This is aimed at ensuring that more consumers know about the services we offer. By adopting efficient and effective publicity and advert strategies, our customer base will grow significantly within a relatively short time.
Payment Channels
Our payment channels are robust and aimed at capturing the unique payment needs of our clients. It includes varied payment options that consist of the use of POS machines, the acceptance of cash deposits, payment through bank draft, mobile money, and the receipt of cheques among other options that may come up. This is done so our clients will pay for our products with ease, without being frustrated due to the shortage of payment options.
Conclusion
This BUSINESS STARTUP GUIDE has made available a rice farming BUSINESS STARTUP GUIDE, targeting specifically entrepreneurs with little to no experience in writing a good business plan. This sample provides the necessary guidance, and although it can be used as a guideline, the contents should solely consist of the farmers/entrepreneur’s unique business realities.
With a compelling and well-written business plan, you are sure to attract the necessary funding for your business, in addition to having the right framework that will guide your business to avoid common pitfalls that come with a lack of having a good business plan.