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Entrepreneur Observation Report Essay

This report outlines a very small business of my brothers. It describes his business, target market, financial plans, andmarketing plans. I have tried to keep a neutral opinionabout his opinions as much as possible. I have tried to keepmy inputs and thoughts in the conclusion only.

The whole idea of my brother, insert name here, owning abusiness started in early March of 1998 when one of theneighbors jokingly suggested he should raise chickens andsell them to people. A few days later he realized it could beeasily done, and with a profit. From mid-March toSeptember, he and I raised, and easily sold 600+ chickens,we only wished we could have raised more. When Marchof 1999 rolled around we were contemplating how manychickens to buy, when the person we bought the chickensfrom told us about the possibilities of rabbits. Becauserabbits are a yearlong project, and we knew I would beleaving in the fall, it became his decision and ultimately hisproject. He started out with 20 baby doe (females), 3 babybucks (males), and a small-borrowed hutch (cage) with all23 rabbits jammed in tight.

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His investment in rabbits,although considerable, was still to be outdone by the onesin hutches and feed. He essentially spent all profits fromchickens the year before and then some. His project nowconsists of 20 mature doe, 3 mature bucks, andapproximately 60 babies. He has taken over a section of alarge barn and turned it into a 30+ hutch rabbitry systemwith a circulating automatic watering system.

, and recentlyacquired a large weaning cage. I asked him how he felt when he was getting started and hesaid he didnt like spending all that money but he knew hewould get it all back someday. I then asked him if he wasafraid of competition, or of there not being a big enoughmarket. He said he knew of nobody else selling rabbit meatin the area on any scale, and that because rabbit meat ispractically thee healthiest meat, he couldnt see anyproblems in the market. He then said that if personal sellingfails he can sell them through his "chicken provider" on aper pound basis. One thing I have always known about my brother and hisrabbit business is that he is very confident in its success andthat even though he knows there will be small problems heis very sure of overall success.

When I asked him who he sees as his typical customer hesaid that first he would talk to people that bought chickenslast year, and then possibly put an add in the Kearney Hub(an area newspaper). He then said that because rabbitmeat is so healthy he saw the health conscience as hisprimary customers he also said that because it wouldnt bereal cheap, they would be people with money to spend onspecial health food. He didnt have any demographics,Psychographics, or Geographics, but that he knew therethe supply and that all demand would be his. I asked him ifhe saw any reason for his market to shrink, and he said hedidnt see any reason for it not to grow.

Most of the funding for his business came from our chickenprofits, from me (expecting to be paid back plus some) andfrom his savings. While he did not have a business plan setin concrete he had some basic numbers that he thoughtwould be attainable and some ideas on how to attain them. He did not receive funding from a bank. Profit margins forhis business are somewhat unpredictable the number of kits(baby rabbits) a doe has a year can greatly effect thebusiness. He tries to conservatively figure his profits.

Here I will try to give you a little info on the possibleincome of a 20 doe rabbitry. If the average doe has 12 kitsa litter and has a litter every 1 ¾ month or 9 litters a year,then each doe averages 108 babies a year. Take thisnumber times the number of doe or 20 and you get 2160babies a year. If each baby weighs 4-6 pounds (well use4) when sold on a per-pound rate you are selling 8640pounds of rabbit a year.

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Take this number times $. 95, (aconservative price for rabbit meat per live pound) andyoure bringing in $8,200. 00 a year. Subtract the estimated$900. 00 a year in feed and $500.

00 for any otherexpenses and youre left with $6,800. 00. This .

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Entrepreneur Observation Report Essay
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Artscolumbia
This report outlines a very small business of my brothers. It describes his business, target market, financial plans, andmarketing plans. I have tried to keep a neutral opinionabout his opinions as much as possible. I have tried to keepmy inputs and thoughts in the conclusion only.The whole idea of my brother, insert name here, owning abusiness started in early March of 1998 when one of theneighbors jokingly suggested he should raise chickens andsell them to people. A few days later
2021-07-13 10:31:06
Entrepreneur Observation Report Essay
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