BBTM 09

DT: 24th January 2012

Summary of Business plan for start up on

Fast freeze sea food testing laboratory

Submitted to:

By:

Naveen Kumar

BBTM 09

DT: 24th January 2012

Mission Statement: Main Idea: As a biotechnologist I would like to become an entrepreneur in the field of food testing laboratories where there is a scope of improving my knowledge in both science and also in the business development. Sea foods mainly accumulate bacteria in the tissue due to filter-feeding process. The main types of pathogens present on them are o Salmonella spp o Escherichia coli (E.coli) o Enteric viruses (Novo virus or hepatitis A virus) Hence as per the regulations made by governments all the sea foods must be approved by a testing laboratory to hit the market commercially. The above stated pathogen tests must be done conducted before the the final food hit the market. To provide faster and reliable test result within 24 hours. To provide cheaper testing cost when compared with other competitors. Establishing a sea food testing lab that meets all regulation or standard that are stated by government. To provide more safer sea food product to customer Finally to increase the good will for Customer Company.

Demand in the Market: Mainly I am looking forward to establish this company in my country India where the seafood market is in developing stage as many of the Indians are not interested in frozen food. At present there is no much competition from other companies as there are only government agencies which are performing the tests in India. I can expect a larger market in India because government agencies take more time for generating results the tests stated.

Requirements for establishing the laboratory: For establishing the laboratory mainly requires building premises which consists of office space, sample storage room, and clean rooms for performing tests in non contamination area. The equipment like office furniture, computers, PCR (polymerase chain reaction) machine, pH meters, water baths, Autoclave to sterilize the utensils like glass equipments, prepared media etc are to be assembled in the laboratory. The company should employ three different types of employees lab assistant, lab technicians and supervisor(qualified person)

BBTM 09

DT: 24th January 2012

Present competitors: In India the sea food testing is mainly done by the government run institutions like Fisheries department located in every costal area. Hence when I try to establish this company back in India there will be larger market to develop my company. The main competitors in UK with their price tag (some of the companies do not state their price per test as they require a conformation email from their companies) are listed below: o Aquaprova Inc
This company performs three tests E.coli ( 45 per test), salmonella ( 30 per test) and nova virus tests (160 per test).

o Cefas (centre for environment, fisheries & aqua culture)

This is a government running laboratory by United Kingdom.

o Veromara Inc
This company performs many tests like E.coli, salmonella, Listeria spp., vibrio spp.,Listeria monocytogens and novo virus.

Marketing: The main customer to whom I am going to target are the business people who produce sea food and sell them in market. I market my laboratory by emails to the companies which are producing sea foods, meeting personally through taking appointments and explaining them the main mission of my company. When I establish this company back in India I can use goodwill of my family business which being operated since 25 years.

Financial terms: In India the cost of living is very less when compare to UK so the initial investment reduces by 25% when I establish the company back in India. For establishing this laboratory in India I require 45,000 (conversion one pound is equal to eighty rupees) the simple specifications are given below in the following table.

BBTM 09

DT: 24th January 2012

CRITERIA
Buildings Equipment Working capital for 12 months Investment required Personal investment Net investment required

MONEY
5,000 25,000 15,000 45,000 5,000 40,000

I have not stated premises in the above table since I can use my fathers company premises to start up where I can use it for no extra charge. Personal investment is from my savings which I have earned through part time and other sources like gifts for relatives. I can use my father contacts for the investment into my company and also I can convince bank people give loan with a surety of my family business. I can reduce the working capital by utilizing many services like transport etc. From my family business.

Conclusion: As a fresh graduate with a family background of business I can have great support in many aspects like acquiring finances, getting support in planning and management of the company structure, etc. Although my family runs a business from past 25 years it may help in starting up my business but I need to work hard to develop this laboratory plan as the seafood industry just stared growing in India. Finally the business plan which i proposed is a beautiful opportunity for people like me who have some knowledge about science and also the main aspects of business like marketing financing etc.