Business Plan on Myk Cold Store with Due Diligence

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UNIVERSITY FOR DEVELOPMENT STUDIES
FACULTY OF APPLIED SCIENCES
Navrongo- Ghana

A BUSINESS PLAN
WITH DUE DILIGENCE
ON THE
MYK COLD HOUSE

PRESENTED BY
MARY OBENG
FAS/1823/07

COURSE: MGT 401
TABLE OF CONTENT
EXECUTIVE SUMMARY
BACKGROUND
* Business Profile
* Goal and Objectives
DUE DILIGENCE
* Marketing Plan
• Industry Trends (Market Analysis, Market Segmentation, SWOT) • Product/Service
• Target Market
• Competitive Analysis
• Marketing Mix (Promotion, Place, Price, Product)
* Operational Plan
• Suppliers
• Production Plans/ Service Module
• Operating Requirements
• Human Resources (Key Players, Organization Chart, Staffing Strategy)

* Financial Plan
• Start up Costs
• Cash Flow Statement
• Income Statement
• Balance Sheet

EXECUTIVE SUMMARY
Food storage is the act of preserving food in a very conducive environment to prevent spoilage. There are countless methods of storing food such as: freezing, drying, wetting/ watering which are some of the few popular methods in use. Foods once stored a able to last for a very long time- usually days or months before going bad, even if they will.

Refrigeration/ freezing is the most widely used storage method in the world today. In this method food is kept in a cold refrigerator or freezer sometimes with a temperature of less than 00 C in its environment. This hibernates all biological activities that usually take place in foods to cause spoilage until the food has been exposed to heat again. Foods that can be stored by this method are mostly perishables eg. Fish, meat, fruits and vegetables.

The fishing industry records the highest usage of the method of freezing for storage globally. This method is able to store fish for three months and over without spoilage. In Navrongo, fishing happens to be the next most popular occupation following farming due to the presence of dams and rivers within the farmlands. For so many years now, fishing has been done in Navrongo using methods of preservation such as smoking, drying and salting. As a result of this the presence of fish in the market has become seasonal leaving consumers with abundance in the rainy season and scarcity of the product in the dry seasons. Although fish production may be seasonal, the introduction of a particular method of preservation could possibly create the availability of fish in the district all year round. In the advent or technology, a quite recent method of preservation is freezing- a method that has been long since used in areas of large scale fishing.

MYK COLD HOUSE is a company that is interested in introducing large scale freezing for the over 10 tons of fish that are produced annually in the Navrongo district. The purpose of this due diligence is to disclose the actual plan of action this company will apply to construct the over 10 cold rooms needed to absorb the scale of production in the township.

BACKGROUND
Navrongo in the Upper East Region of Ghana has a record production scale of over 10 tons of per annum. The township, though mainly a farming area, is surrounded by dams and rivers as a major method of irrigation. The extension of these water bodies to cover an appreciable area has led to fishing being the second most patronized occupation with a total population of about 3,000 fishermen compared to 5,000 farmers.

Fish has therefore become the most consumed source of protein in for the over 15,000 inhabitants of the town. Over the years, increasing demand for fish has led to the innovation of so many methods of food preservation which have all failed in producing year round availability of the product in the market.

Today with the introduction of the widespread usage of refrigerators for storage, freezing has shown up as the safest method of preservation that can leave the town enjoying fresh fish throughout the year.

MYK COLD HOUSE intends to propel the production and marketing of fish in the district by promoting a...
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