The following plan is based 16 years of industry experience. It is highly focused and promises to provide a path for success for the owners and their staff. It is based only on average sales figures. Actual sales might be higher. The projections contained herein are authentic and will be used as the budget for the business. Latheethen Feeds, Inc. will show a profit immediately, and will increase sales and profits each year thereafter.

Latheethen Feeds, Inc. is a well-established custom feed store. The company is involved in the production and sale of custom livestock feeds as well as bird feed, deer food, and other animal products related to pets and livestock. Latheethen Feeds, Inc. is able to expand its production facility (custommill), and market its workroom production outside of its current client base. The company is dedicated to providing the highest quality customer service, meeting the agreed delivery dates, and keeping the sales prices controlled in accordance with ongoing market trends. This business plan’s main purpose is to identify future clientele, present our marketing strategy, improve internal processes, and secure the financing we need to expand.

Latheethen Feeds, Inc., is located in Pleasantville, Michigan. The company, which is privately owned, has been in business for almost 16 year. The previous owners live next door to the store, and are planning on moving to their retirement home in Northern Michigan, as soon as this business transaction is completed. The current owners and the new owners are actually family. They will still be available to help if they need it and visit the store bi-weekly.

An estimated 14,695 farms and 20,434 hunters are located in six counties near Latheethen Feeds. Once delivery is possible, however the state remains open to all. Latheethen’s would then be able to compete for 53,315 farms’ business. USDA records show that these same farms spend a quarter of one billion dollars annually on Michigan feed. The company’s estimated existing share of the nearby market is less than 1%. Previously, the owners have established an estimated $140,000 of the state total on an annual basis. They achieved this without the need for advertising and outside sales. The new owners plan to expand the business in order to take a larger share (approximately $260,000 annually) of the state’s total.

The marketing research and tailored marketing strategy described in this business plan will result in after-tax profits of $22,806 in Year 1 and increasing to nearly $30,000 in after-tax profits within three years, despite significant new advertising and renovation expenses.

Latheethen has two expansion phases and requires funding in order to reach these goals. We are seeking a $15,000, short-term loan that can be repaid in the next two years. This loan will allow us purchase a delivery truck. It is an important part of our new sales- and marketing strategy. In early Year 2, we will need a second, long-term loan in the amount of $135,000, to build the area’s premier equine boarding stable. Mid-Town Meadows will add another source to revenue and also provide feed sales. Mid-Town Meadows aims to create a relaxed, welcoming environment that makes our customers and horses feel like they are part of a VIP service in a different world. The theme and decor will be rustic with log exterior walls, but formal with a private clubhouse overlooking the enclosed arena. The feed store can be found at the main entry, near a water fountain with a waterfall and company signs.

1.1 Objectives

Latheethen Feeds has five major objectives. These are the primary targets.

1. To retain 100% of the existing customer base, you must provide consistent customer service.
2. Direct referrals and aggressive sales can help us expand our customer base.
3. Based on customer demands, we will gradually expand our product line.
4. Expand our custom-made feed mill to meet growing demand.
5. Expand the types of services offered to our customers, as their desires are identified.

1.2 Mission

Latheethen Feeds is a family owned and operated company, dedicated to

Our goal is to provide the best quality products and services for our customers. Latheethen’s is committed to providing our customers with the personal attention that they deserve. We are committed to customer satisfaction and customer service. This ensures that all of our customers are 100% satisfied.

1.3 Keys to Success

The primary keys to the success of Latheethen Feeds are as follows:

1. Freshness and quality of product.
2. Variation and price
3. Constant research of industry to keep knowledgeable of market needs.
4. Management: products delivered on-time, professional customer service, and managing budgets.
5. Regular evaluation of strengths, weaknesses and adjustments when necessary.