smallbusinessdevelopment

 

Freddy Coon Come

Page history last edited by Freddy 2 yrs ago
 
 
 
Heritage College Small Business Course
 
 
Welcome
Hello everyone! My name is Freddy Coon Come and I’m from Mistissini, Quebec. I have lived in Mistissini all my life. Happily married to Kathy Neeposh Coon Come for five years, we have a son, William. He is four years old, full of energy and life… we love him very much! A little about me, ten years ago, I was involved in a car accident; the accident broke my neck and I sustained spinal cord injury. The unfortunate accident left me paralyzed and confined to a wheelchair. Nevertheless, I made a covenant that I would never allow my disability to overshadow my goals and dreams in life. My family is collectively supportive to my objective in attaining independents and becoming self-employed. I am very optimistic in every aspect of life; I believe anything is possible to them that believe. I am deeply determined to reach the destiny I have envisioned for me and my family. My dreams are extremely high but attainable… one of my goals is to become a successful businessman. However, I understand it is vitally important to grow in knowledge, “knowledge is power”. Whatever goals we set to achieve in life it is imperative to become skilful and competent. As we come together to embark on a new journey of learning experiences, let us be unified in respect, encouragement and openness to learn. I wish everyone great success!                           
 
 
 
My Business Venture Is In…
Tourism Industry - Outfitting, one of my passions is the great outdoors. I have great love and respect for nature and its vast beauty. My parent’s trap-line is located in the heartland of pristine Rivers and Lakes that yield plenty of fish species. The Land that surrounds these Rivers and Lakes is equally magnificent. My family has exclusive access to this highly prestige territory, we have the opportunity to protect, preserve and promote these Rivers, Lakes and Land for years to come. Over the years, we have developed a sound relationship with these natural resources. My goal is to establish a sustainable economic business venture that is viable and environmentally friendly. The Fishing Camp, ones erected, will have high standards toward the protection of wildlife and inhabitants on these natural resources. We will protect the environment from outside development, Forestry and Mining Companies. The Outfitting Camps will be located at the north-end of the majestic Mistassini Lake. Mistassini Lake is the largest fresh water lake in Quebec. My experience related to this field includes, Fishing Guide and Manager of an Outfitting Camp. The establishment will be operational mainly on a seasonal basis. Therefore, I have other businesses that I am seriously contemplating in starting but I am not ready to disclose to the general public yet.
 
 
Course Assignments
 
 
Interpersonal Style Inventory 
  • Questions 1 to 40:  45 = Private personality
 
Assignment # 1 - Are you inclined to be an entrepreneur?
Montreal Entrepreneur's Guidebook
Page 1-16 and 1-29 to 1-42
 
  • Character Traits of an Entrepreneur: Score = 5/8
  • Characteristics of Success:  Score = 30 points, should be running General Motors!
  • Entrepreneurial Evaluation:  Score = 26 points, most likely to be successful in business!
 
Taking the Test: Self-Employment Soul Searching, Page 1-34
 
1.       What are my personal qualities: Score = 74 points
2.       Why do I want my own business: Score = 28 points x 2 = 56 points
3.       Other factors: Score = 80 points
 
Interpretation:
 
Part         Your Score            Possible Score
1.                               74           105                        
2.                               56           110
3.                               80           85
 
Total                      210         300
 
Scored between 180 and 230, good chance to be self-employed 
 
 
Assignment # 2 - Exploring new business ideas and opportunities
Identify 3 current trends in each of the 4 macro environmental factors of the PEST Analysis (Political, Economic, Socialcultural, Technological)
 
PEST analysis related to the Tourism Industry in Outfitting
 
Political
·         GST cut one percentage point to 5%, effective Jan. 1, 2008
·         Small business income tax reduced to 11% by 2008
·         The federal Liberals would consider rescinding the Conservative government's GST cuts if they come into power in the next election
·         Ottawa asked to protect fresh water
 
Economic
 
·         Strong Canadian Dollar
·         Reduction of GST & Business Tax
·         Oil prices punch through $94 US a barrel
 
Socialcultural
 
·         World Population Ageing 2007
·         Environment (demand for environmental friendliness)
·         Social Media (Blogging/Podcasting/Wikis/Social Networks/User-generated digital content)
 
Technological
 
·         Information technology (IT) and broadband are major drivers of economic change, restructuring businesses, affecting skills and employment, and contributing to growth and consumer benefits
·         Telecommunications investment continues to rise and consumers are generally paying less for more and better services
·         Blogging software (AJAX) 
 

 

Mind Mapping - Brainstorming

 

 

 

 

 

Business Selection Checklist
 
The following chart is designed to help you choose the business that’s right for you. To fill it out, follow these three steps:
 
(1) In the far left-hand column, list the business ideas you’re considering by order of interest. So, in the top left-hand blank space, put the idea you think you’re most interested in. Underneath it put the next idea and so forth until you’ve listed all of your possible ideas down the left side of the chart.
 
(2) Now take each idea and rate it on a scale of 0-3 in each of the areas listed. Use the following rating system: 0-none, 1-below average, 2-average, and 3-above average.
 
Here’s a look at each of the categories and some of the things you should consider when rating them:
 
Your knowledge of the business. How much do you know about the area? Will you have to spend extra time and money teaching yourself the business? Will you have to take on a partner because you don’t know the business well enough?
Rating: 0-no knowledge of the business; 1-some indirect knowledge of the business; 2-limited knowledge; 3-working knowledge.
 
Your experience in the field. In some cases, you may have a lot of knowledge about the subject, but not much experience. Have you ever owned or worked in this type of business before? To what extent is hands-on experience crucial to the business?
Rating: 0-no experience; 1-indirect experience; 2-limited experience; 3-familiar with the business.
 
Your skills. Ignore, for now, those skills that might be common to each of your ideas, and try to concentrate on skills that are unique to that business. To what extent do you possess those skills? If you lack them, how difficult will it be to acquire them?
Rating: 0-none; 1-limited skills; 2-some skills; 3-extensive skills.
 
Ease of entry. Think both of the costs of entering the business and of the competitive barriers that might exist. For example, a service business that you can run from your home might be relatively inexpensive to start, but if several others are already providing that service, entry in the field may be difficult.
Rating: 0-crowded field, very difficult to enter; 1-limited entry available; 2-mix of large and small competitors; 3-virtually unrestricted entry for any size business.
 
Uniqueness. Uniqueness does not necessarily mean that literally no one else is providing the same product or service; it can mean that no one else is providing the product or service in the same way you intend to provide it, or it can mean that no one else is providing that product or service in your area. You’re looking for some way to distinguish your product or service from others who are already in business.
Rating: 0-your product or service widely available; 1-a few to several others offering your product or service; 2-only one or two others; 3-no others providing your product or service.
 
 
Business idea
Your knowledge
Your experience
Your skills
Ease of entry
Uniqueness
Total
 
Outfitting
 
3
 
3
 
2
 
2
 
3
 
13
 
Distribution
 
2
 
2
 
2
 
3
 
3
 
12
 
Transportation 
 
1
 
1
 
1
 
2
 
3
 
8
 
Convenience Store
 
1
 
2
 
1
 
1
 
2
 
7
 
Restaurant
 
0
 
0
 
0
 
2
 
1
 
3

  
(3) Now total up the numbers. Here are some tips for making sense of the numbers and for narrowing your list of business possibilities:
·         eliminate any of your ideas that scored less than a total of 10
·         eliminate any idea that did not score at least a 2 in every category
·         eliminate any idea that did not score at least a 3 in the uniqueness category
 
How many ideas are left? If the answer is “none,” then you need to use the list to identify where you need to improve and you need to develop a strategy for raising the “1’s” to “2’s” or “3’s.” If the answer is “more than one,” you have a pleasant dilemma: a choice of which business to start. If the answer is “one,” you may have just found the business that’s perfect for you.
 
 

North American Industry - Classification System

 

This Canadian industry comprises establishments primarily engaged in catching or gathering freshwater

species of finfish and shellfish, and harvesting other freshwater products.

 

Example Activities:

 

Bait catching, inland

Commercial fishing, inland

Frogs, catching of (not raised on farms)

Inland fishing, freshwater

Marine products harvesting, freshwater  

Prairie jigging, fishing            

Shellfish digging, freshwater

 

 

114114 Inland Fishing

 

 

Assignment #3 - Is your business idea feasible?
 
The great majority of new businesses fail in the first few years. As you look at the feasibility of your business idea, think of it as planning against a business failure. The old saying “Failing to plan is planning to fail” is certainly true. You should evaluate your business idea with the following checklist to determine its potential.
 
1. Personal Attributes? Do you have the personality, experience to be an entrepreneur? See “Are You an Entrepreneur?” Are you ready to work the long hours? Do you have staying power?
 

 

  • Are you a self starter?

 

          Yes, I am. I like to exercise my independence by boldly venturing forth and achieving goals I set. 
  • Are you good at planning?
          Yes, I am. I like to focus on details, understand and become knowledgeable in my undertakings.  
  • Are you good at making decisions?
          Yes, I am. I don’t make decisions impulsively; I examine my options and choose the right one.
  • Can you "stick with it"?
         Yes, I can. My disability has allowed me to develop patience. I stay persistent to reap the rewards of completing a task and becoming successful.
  • Are you a hard worker?
           Yes, I am. When I commit to something, I give it my best to see it through.
 
2. Describe Your Business? Take some time and write down answers to describe your idea. These are the essential elements of your business plan.
 
  • Clearly describe your products / services

My products / services would include sales of 3/4/7 day fishing packages - European plan. The packages include air transportation, lodging, guide services and boat/motor rentals. Additional service includes, conference hall rental.

 

  • Who will use your product /service?
    Clientele comprised of anglers and fly-fishermen, natives and non-natives. Clients would come from Quebec, Ontario, and north-eastern United States. 
  • Who will make the decision to buy your product / service?

The client will ultimately decide if he wants the product / service we offer? As a business, we will do our best to present and provide the best quality of service and product. We will make our products /  services appealing to potential clientele as much as possible. We are prepared to meet the needs of our clients.

 

  • Why would they buy your product / service and not your competitor’s?
 
Our products / services will be uniquely different from our competitors. The main camp’s location will be further north from any other outfitter in the area – from immediate competitors, thus making our fishing camp unique by its remoteness and seclusion. The proximity of both river and lake fishing from main camp is an advantage over our competitors. Our establishment will be family oriented from both management and client perspective, and it will also accommodate people with certain disabilities.   
 
  • List your competitors.
 
1.      Osprey Excursions – Offers high-end products and services.
2.      Awashish Adventures – Offers lesser products and services.
 
  • List your suppliers.
 
1.      Meechum Store – we will purchase our food from them because they are the closest.
2.      Chiiwetin Gas Station – we will purchase our gas, oil and propane from them because their prices are cheaper compared to the other Gas Station.        
 
  • What resources will you need? (Employees, equipment, buildings)  

            Employees:     
 
Ø      Manager
Ø      Camp Manager
Ø      Bookkeeper
Ø      Accountant
Ø      Guides (4)
Ø      Housekeeping
Ø      Water transportation service
Ø      Ground transportation service
 
            Equipment:
 
Ø      17 ft. boats
Ø      18 ft. canoes
Ø      50 hp. outboard motors
Ø      9.9 hp. outboard motors
Ø      5 gal. gas tanks
Ø      45 gal. drums
Ø      Down riggers
Ø      Depth/fish finders
Ø      Topographic maps
Ø      Landing nets
Ø      Life jackets
Ø      Paddles
Ø      Spark plugs
Ø      CB Radio (2 per kit)
Ø      Emergency kits
Ø      First aid kit
Ø      Packs rope
Ø      Axe
Ø      Chopping axe
Ø      Gas pumps
Ø      Gas containers (5 gallons)
Ø      Funnels
Ø      Rain coats
Ø      Fish scale
Ø      Fillet gloves
Ø      Fishing pliers
Ø      Fillet knife
Ø      Fillet board
Ø      Wood stove
Ø      Woodstove pipes
Ø      Woodstove toolset
Ø      Fire starters (case of 24)
Ø      Matches (case of 24)
Ø      Propane bottles, gas and installation
Ø      Propane stove/oven
Ø      Propane refrigerator
Ø      Propane freezer
Ø      Propane B.B.Q
Ø      Propane bottle for B.B.Q
Ø      Coleman stove
Ø      Coleman lantern
Ø      Water dispenser (electric)
Ø      Water bottle
Ø      Coffee maker (electric)
Ø      Toaster (electric)
Ø      Toaster (wood stove)
Ø      Can opener (manual)
Ø      Cooler
Ø      Coffee pot
Ø      Tea pot
Ø      Large frying pan Vollrath 14''
Ø      Frying pan alum. 12''
Ø      Frying pan alum. 10''
Ø      Large sauce pan
Ø      Small sauce pan
Ø      Stockpot
Ø      Roast pan ''Square''
Ø      Cookie sheet 15'' X 21''
Ø      12-cup muffin pan
Ø      Round cake pan
Ø      Square cake pan 14''
Ø      Loaf pan 8''
Ø      Pie plate 10''
Ø      Pie plate 9''
Ø      Rolling pin 28'' with handle
Ø      Cabaret 10'' X 14''
Ø      Cooking mitten
Ø      Spatula 13''
Ø      Egg turner
Ø      Ladle 24''
Ø      Spoon stainless 20''
Ø      Pasta fork
Ø      Wisk 12''
Ø      Utensil rack
Ø      Utensil tray
Ø      Grater and shredder
Ø      Large mixing bowl 16 quartz
Ø      Small mixing bowl 13 quarts
Ø      Measuring spoons
Ø      Plastic measuring cup (2 cups)
Ø      Mixer
Ø      Juice jar (60 ounces)
Ø      Dinner plate 9'' (12 Pieces)
Ø      Salad plate (12 Pieces)
Ø      Toast plate 7'' (12 Pieces)
Ø      Cereal bowl (12 Pieces)
Ø      Juice glass or cup (12 Pieces)
Ø      Dinner Knife (12 Pieces)
Ø      Dinner fork (12 Pieces)
Ø      Salad fork (12 Pieces)
Ø      Dinner spoon (12 Pieces)
Ø      Tea spoon (12 Pieces)
Ø      Utensil kit (4 forks, 4 spoons, 4 tea spoons, 4 knifes)
Ø      Sugar bowl
Ø      Tea pot stainless
Ø      Salt & pepper shakers
Ø      Napkin dispenser
Ø      Napkin packs (Case)
Ø      Place mat (Material)
Ø      Table cloth
Ø      Bar cloth
Ø      Dish cloth
Ø      Dish rack & bottom pan
Ø      Chef’s knife
Ø      Bread knife
Ø      Boning & fillet knife
Ø      Steak knife
Ø      Vegetable knife
Ø      Cutlery storage
Ø      Cutting board
Ø      Sharpening steel
Ø      Oval table with 4 chairs
Ø      Blinds - 48'' 7/8 x 45'' 5/8
Ø      Entrance mat
Ø      Bed frame
Ø      Mattress
Ø      Night table
Ø      Pillow (2 per pack)
Ø      Pillow case, fitted sheet and flat sheet
Ø      Blankets
Ø      Blinds - 48'' 7/8 x 45'' 5/8
Ø      Housekeeping cart
Ø      Latex gloves (case)
Ø      Mop bucket wringer
Ø      Dust pan
Ø      Lobby dust
Ø      Paper towel (case)
Ø      Kleenex (case)
Ø      Dish mop
Ø      Dish soap (case)
Ø      S.O.S soapy steel wool pad (case)
Ø      Scrub brush
Ø      Waste container
Ø      Swinging lid
Ø      Mop head
Ø      Mop handle
Ø      Bucket
Ø      Furniture polish (case)
Ø      Window cleaner (case)
Ø      All purpose cleaner (case)
Ø      Toilet brush
Ø      Toilet cleaner (case)
Ø      Tool to unblock toilet
Ø      Floor detergent pin-o-lin (case)
Ø      Deodorant bloc (case)
Ø      Javax (case)
Ø      Broom
Ø      Commercial coin washer and dryer
Ø      Commercial soap and fabric softener distributor
Ø      Commercial laundry soap (case)
Ø      Commercial fabric softeners (case)
Ø      Hand soap dispenser
Ø      Hand soap
Ø      Mounted paper towel dispenser
Ø      Case paper towel (brown)
Ø      Toilet paper (case)
Ø      Toilet paper dispenser
Ø      Laundry detergent (case)
Ø      Bounce (case)
Ø      Laundry table
Ø      Laundry basket
Ø      Shower curtain
Ø      Curtain rings sets
Ø      Soap holder
Ø      Towel bar
Ø      Coat hanger
Ø      Clothes line (complete kit)
Ø      Strata spacer
Ø      Elevated toilet seat 4''
Ø      Grab bars 18''
Ø      Adjustable height shower
Ø      Generator
Ø      All Terrain Vehicle (ATV)
Ø      ATV Wagon
Ø      Ramp
Ø      Garbage containers
Ø      Trimmer/brush cutter
Ø      Wheel barrel
Ø      Chainsaw
Ø      Shovels
Ø      Rakes
 
            Buildings:
 
Ø      Lodging facilities (4)
Ø      Lavatory (toilets/showers)
Ø      Conference hall
Ø      Docking facility
Ø      Boardwalks
 
  • How will you advertise?
Ø      Business cards
Ø      Pamphlets
Ø      Calendars
Ø      Note pads 4'' x 6'' w/logo
Ø      Billboards 4' x 8' x 1/2
Ø      Billboards 3' x 2' x 1/2
Ø      Logo for 24' and 17' boat (10'' x 24'')
Ø      Logo for 18' canoe (6'' x 10'')
Ø      Pens w/logo
Ø      License plates
Ø      Caps w/logo embroidered
Ø      Wind breaker coats w/logo
Ø      Long sleeve T-shirts w/logo
Ø      Coffee cups w/logo
Ø      Website (creation)
Ø      Domain registration
Ø      Hosting packages
Ø      Trade shows

           
3. Do you understand your market? You need to understand where the market for your product or services is headed. Your market may be nationwide or it may be local. If yours is an Internet business, it may be world-wide.
 
  • How big is your market?
 

            My market is Local, Regional, Provincial, and National and other parts of North America. Moreover, my clients would come from Quebec,

            Ontario, and North-eastern United States.

 
  • Is your market growing or shrinking? By how much?
 
            Tourism industry is slightly decreasing. 
 
  • Who is your largest competitor?
 
            My largest competitor is Osprey Excursions Reg’d.
 
  • What has made them successful?
 
            They meet the needs of their clients and they are modernized, good marketing strategy.
 
  • What trends are happening in technology?
 
1.      Information technology (IT) and broadband are major drivers of economic change, restructuring businesses, affecting skills and employment, and contributing to growth and consumer benefits
2.      Telecommunications investment continues to rise and consumers are generally paying less for more and better services
3.      Blogging software
 
 
 4. Is There a Market Opportunity? You need to look at if there is an “unsatisfied need” for your product or service. You should have a clear yes to at least one of the following.
 
  • Will your business satisfy an un-met need?
 
Yes, our business will be family oriented from both management and client perspective, and it will also accommodate people with certain disabilities
           
  • Does demand for your product / service exceed supply?
     
      No
 
  • Does your product or service have some significant advantage?
 
Yes, my business will have an advantage because the main camp’s location will be further north from any other outfitter in the area – from immediate competitors, thus making our fishing camp unique by its remoteness and seclusion. The proximity of both river and lake fishing from main camp is an advantage over our competitors.
 
5. Critical Issues. If you answer yes to any of the following, your business may be in trouble from the start. These issues need to be resolved before you move ahead.
 
 
  • Will you have any shortages or restrictions from your suppliers?
 
      No
 
  • Are extensive capital investments or capital equipment required?
     
      Yes
 
  • Are you having problems securing enough capital for start-up?
 
      No
 
  • Are there barriers to effective marketing?
 
      No
 
6. How much do you need to earn? As you start up your new venture, you need to make sure that you will have enough reserves and or income to meet your basic needs. Many times first year sales are below expectation, will you have enough money to survive?
 
  • How much do you desire to earn?
 
            My desire is to earn $30.00/hr
 
  • Are you prepared to earn less in the first 3 years?
     
       Yes
 
  • What is the minimum you require to earn?
 
            Minimum salary: $20.00/hr
 
  • Do you have a back-up source of money just in case?
     
      Yes
 
  • How much could you earn working for someone else?
     
      $20.00/hr
 
7. Set a Budget. You need to set a financial plan for your business. Project out your profit and losses by month for the first 2-3 years. For more information look at Cash Flow and Funding.  cashneeded.xls
 
  • Figure out what your sales will be by month.
 
            Fishing packages @ $575/client x 8 clients/day x 30 days = $138, 000.00/monthly sales.
            Additional service: conference hall rental @ $150.00/day x 30 days = $4,500.00/monthly sales.
            Total monthly sales: $142,500.00
 
  • How much will direct product costs be? (raw materials, labor, outside services)
 
           Direct product costs: $1,123,527.00
 
  • Do you know what your expenses will be for: rent, advertising, utilities, phone, auto, etc.? 
 
          Repeating monthly expenses: $132,919.00
 
  • Do you know your selling expenses?
 
          Selling expenses: $18,017.00
 
  • How much cash will you require?
 
          Start-up cash: $1,274,463.00
 
By looking at the key factors for business success, you can greatly improve your “odds” of not only “surviving” but prospering in your business. It is much better to plan and question every element of your business idea before you put down your hard earned money and move ahead.
 
 
Assignment #4 - Conduct a SWOT analysis of your current situation
 
Strengths:
 
·         New business (new equipment and buildings)
·         Business will be family owned and operated
·         Business will pursue family oriented clientele… unlike existing competitors
·         Management and staff experienced in Outfitting (management and guiding experience)
·         Management and staff knowledgeable in territory – family trapline
·         Management and staff have tremendous respect for environment
·         Exclusive access to rich natural resources (rivers, lakes and land)
·         The proximity of both river and lake fishing from main camp is an advantage
·         All four (4) fish species available to fishermen
·         Fishing camp unique by its remoteness and seclusion from other Outfitters and developments
·         Camp will accommodate people with certain disabilities…unlike existing competitors
·         Cultural values will be displayed to clientele
 
 
Weaknesses:
 
·         Start up cash requirement significantly high, it may be difficult to secure necessary funds
·         Capital requirements from owners will be considerably high, making it difficult for some potential owners to deliver on their share of cash equity
·         Lack of involvement and commitment from certain key people – potential owners
·         Lack of Accredited persons within management and personnel structure
·         Tarnished business reputation due to certain errors previously made during past operations
·         Lack of competitive strength compared to existing competitors
·         Lack of experience and expertise in market planning
·         The distance of main camp from nearest town will accrue significant expenses compared to existing competitors, making our products/services more expensive
·         Lack of existing customers will be difficult to generate initial cashflow     
 
 
Opportunities:
 
·         Acquire appropriate training by initial start up - Small Business Development course, etc…
·         Conduct research analyses relating to Tourism Industry, take advantage of developing trends
·         Pursue niche target markets including aging citizens and young anglers and fly-fishermen
·         Contact existing loyal customers, limited but worth pursuing…build from them
·         Capitalize on vulnerabilities of existing competitors
·         Reduction of GST & Business Tax will be beneficial
·         Environment (demand for environmental friendliness) Ottawa asked to protect fresh water
·         Telecommunications investment continues to rise and consumers are generally paying less for more and better services  
 
 
Threats:
 
·         Aggressive competitor trying to stop the realization of this business venture
·         Possible outcome of Band Council resolution may hinder or halt the start of this business
·         Environment drastically deteriorating, unpredictable weather ruining holiday destinations 
·         Oil prices punching through – significant increase of gas prices
·         Strong Canadian Dollar will likely decrease the chance of receiving clients from United States
·         The federal Liberals would consider rescinding the Conservative government's GST cuts if they come into power in the next election
·         World Population Ageing
 
 
 
Assignment #5 - Competition Worksheets
 

 
Description of competition
Identification of competitor
Service
Price
Place
Promotion
Clients
Osprey Excursions Reg’d
Tourism Industry in Outfitting, Fly Fishing and Fishing packages, American and European plans, includes: float plane, lodging in log cabin, dining room, multi-purpose mezzanine (pool and card tables, conference room, cigar room facility and balcony), guided tours, boat/motor rentals
Average
Top Quartile (25%)
Revenue Range:
 ($ 000)
419 – 5000
 
 
Office location:
30 Montée des Bouleaux
St-Constant, Québec Canada J5A 1B6
Fishing camps located on Lac Mistassini
Trade shows, TV shows, website, brochures,
business cards, advertises in outfitting magazines, sponsors local events, radio announcements, word of mouth
Clients comprised of Natives to Non-natives, from Quebec, Canada and
United States
Targets
Fly-fishermen and Anglers
(Fishermen)
Awashish Outdoor Adventures Inc.  
Tourism Industry in Outfitting, Fishing packages, European plans, includes: float plane, lodging prospector’s tent, guided tours, and boat/motor rentals
Average
Lower Middle (25%)
Revenue Range:
($ 000)
48 – 242
 
 
Office location:
32 Albanel,  Mistissini, Quebec, Canada G0W 1C0
Fishing camp located on
Rupert River
Trade shows, TV shows, website, brochures, business cards, word of mouth
Clients comprised of Natives to Non-natives, from Quebec, Canada and
 United States
Targets only
Anglers (Fishermen)

 
 
  
 

Module 2: The Business Plan (Part 1 of 3)

 

 

Class Activities:

 

 

Part 1: Company History: Page 6-15 Q#1-12

 

 
1.      When was your company founded?
 
The company was formed in 1998 but it has not operated for several years now. My goal is to start as a new business and to start operating in the summer of 2008.  
 
2.      What is your form of organization?
 
There was never any form of organization formed yet. The intent is partnership.
 
3.      If a corporation, what is the date and state of incorporation?
 
N/A
 
4.      If a corporation, identify the following:
 
N/A
 
5.      If a partnership, what are the partners’ respective interests?
 
a)      Luke Coon Come: Fishing Guide
Freddy Coon Come: Fishing Guide
Norman Coon Come: Manager
George Coon Come: Fishing Guide
b)      The partnership will be divided into four people, each with 25% shares.
 
6.      If a corporation, identify management’s ownership interest.
 
N/A
 
7.      If the business’ original name was different, what was it?
 
The original name was “Papas Fishing Camps” but we will go with a new name “Coon Come Sportfishing”.
 
8.      Who were the founders of the company?
 
The founders were the Coon Come family, my parents and siblings. Each member has experience in guide service for Fishermen. 
 
9.      How was your product or service developed?
 
As fishing guides we gained significant experience, and as tallymen of the territory we have first priority in any development (tourism, etc…). We love the outdoors and the river produces plenty of fish. So inevitably we decided to start this business.
 
10. Discuss any significant additions or changes in the company’s products, purpose, management structure and so forth.
 
Frequent change in management team occurred previously, but the focus is to have a long-term and stable management team.
 
11. Describe any major obstacles or problems the company has faced.
 
Previous problems included staff (guides) abusing alcohol. Our goal is to implement strong policies against this issue – we will not tolerate this behaviour. We will conduct a thorough background check on all individuals before hiring.  
 
12. What have been the company’s greatest accomplishments?
 
We established some very loyal customers!
 

Part 2: Definition of the Business: Page 6-16 Q# 1-6

 

 
1.      What business are you really in?
 
My business is in tourism, fishing camp operations.
 
2.      What need(s) do you satisfy?
 
We satisfy the needs of clients who are after the famous “brook trout”.
 
3.      Whose need(s) are these?
 
These are the needs of Anglers and Fly-fishermen. Individuals with high level of income, moreover business owners and corporate groups. Fishermen who like to catch brook trout.
 
4.      Are these needs of the buyer? Or is the buyer just an intermediary?
 
These are definitely the needs of the buyer.
 
5.      Why are you in business? (Prioritize at least 3 reasons)
 
a)      Passion: We love the outdoors; we have a product we strongly believe in.
b)      Employment: create employment; I personally want a job from this company.
c)      Goal: I want to attain my goal and become a successful businessman.
d)     Profit: I want to generate income to support and provide for my family.
 
6.      How is your business different from others in your industry?
 
We are unique in remoteness and we are family oriented. We offer great brook trout fishing to our clients.
 
 

 

Part 3: Definition of the Market: Page 6-16 to 6-18 Q#1-16 and Page 6-20 to 6-22 Q#21-32

 

Part 3: Definition of the Market: Page 6-16 to 6-18 Q#1-16 and Page 6-20 to 6-22 Q#21-32
 
1.What is the present status of your company, your industry and your competition in life cycles? (Are you a new company, experiencing rapid growth, fairly stable or experiencing a phasing out of operations?) Check one stage for each of the following items.
 

 
New
Growing
Mature
Declining
Your industry
 
 
x
 
Your competition
 
X
 
 
Your company
X
 
 
 
Your products or services
 
x
 
 

  
2.How do you sell and distribute your product or services?
 
I will attend trade-shows and sell directly to clientele at these locations. I will be accessible in person, by phone, email or Canada Post. I will have a website.
 
3.What geographic areas are covered in the sale and distribution of your products or services?
 
Geographic areas include Mistassini Lake and Papas River
 
4.Discuss the commissions and discount schedules given to retailers, wholesalers, and distributors. (How do they compare with those given by the competition?)
 
N/A
 
5.Describe any special policies regarding such items as exclusive distribution rights. How will these affect your sales and profits?
 
N/A
 
6.Describe any seasonal impacts on your sales efforts.
 
Off-season for fishing will be key time to sell fishing packages (during winter, trade-shows).
 
7.If you have distributors or a sales force, how are they selected, trained and compensated?
 
As operator and owner, I will be personally involved in sales. I will acquire the necessary training in this particular field. I will not require additional compensation for my sales pitches. My bi-weekly salary as manager will be enough to support me and my family.
 
8.If your products or services are purchased or used by individuals, which of the following characteristics describe your customers? (Check the pertinent items, and give specifics.)
 
c) Gender: Most fishermen are male
e) A particular income level: clients with high level income are the majority of clients
 
                             
9.If your products or services are purchased or used by companies, which of the following describe your customers? (Check the pertinent items, and give specifics.)
 
a) Merchandisers: Our fishing packages were sometimes purchased by large and small business owners who came with their employees for business and pleasure.
b) Service organizations: Our fishing packages were sometimes purchased by organizations such as, Chief and Councillors for business and pleasure purposes.
 
10. What customer groups have you targeted for future penetration?
 
I am targeting corporate groups, family oriented clientele and individuals with certain disabilities who are interested in fishing.  
 
11. Identify any major customers who have made or are willing to make purchase commitments. Indicate the extent of those commitments.
 
We have clients who are eagerly waiting for our fishing camp to open, they call every year to see if we will operate.
 
12. List the advertising, public relations, and promotional tactics you use and will use to bring your product or service to the attention of potential customers.
 
ØAttend trade-shows
ØCreate website
ØPamphlets/brochures/business cards
ØWord of mouth
ØPublic announcements for financial contributions made to certain events
 
13. How do you and will you utilize the media to announce your product or service?
 
a)Newspapers: advertise in the notational outfitters magazine, advertise in local and regional newspapers
b)Television: TV ads at trade-shows
c)Radio: radio announcements when company contributes donations and sponsors community or regional events.
d)Print literature: pamphlets/brochures
 
14. What does your competition do in their advertising strategies?
 
ØAttend trade-shows
ØWebsite
ØTV show
ØAdvertise in outdoor magazines
ØPamphlets/brochures/business cards
ØWord of mouth
 
15. What are your company’s advantages in the market?  
 
My company will have newly renovated and constructed buildings, newly furnished facilities and new equipment. The proximity of both river and lake fishing from main camp is an advantage over our competitors. We offer spectacular brook trout fishing.
 
16. What are your company’s disadvantages in the market?
 
One disadvantage our company has is the distance of location; we will amass higher amounts in expenses concerning supplies compared to our competition.   
 
Definition of the Market - Page 6-20 to Page 6-22, Questions # 21-32
 
21. Is demand for the product or services in your market greater than supply? What              supports your estimates?
 
No
 
22. How big is the market for your products and services?
 
a)Currently? We have plenty of people interested in fishing, our competitor continues to grow.
b)In 1 year?
c)In 2 years?
d)In 3 years?
                              
23. Anticipate the external changes that you think might take place over the next several years and which would impact most on your marketing strategies? 
a)What are the two most important conditions which could change?
 
ØCouncil of the Cree Nation of Mistissini may vote against our project
ØGovernment may create cut-backs on small business development in Aboriginal territory. 
 
b)What two potential changes have the greatest likelihood for harming your market?
 
ØGlobal warming
ØRupert River diversion, possible contamination of lakes and rivers. Water level increase or decrease could potential be harmful to outfitters
 
c)What two potential changes have the greatest likelihood of providing you an advantage in the market place?
 
ØLowering of gas and oil prices
ØStrict regulations on environmental issues
 
24. What can be done to prepare for the changes in questions 23 a) and 23 b)?
 
23 a) We must convince and assure the Council of the Cree Nation of Mistissini that we are fully capable of successfully operating this type of business. We must present a solid business plan.
24 b) Play an active role in the protection of the environment.
 
25. Identify three chief competitors in your industry?
a)Osprey Excursions
b)Awashish Outdoor Adventures
c)Chibougamau Outfitter
d)Coon Come Sportfishing
 
26. Rank the performance of your company and competitors identified in question 25 on a scale of 1 to 4 (1 = high, 4 = low) in each of the following area. Also indicate by use of an arrow next to each ranking whether it is going up or down in the near future.
 

 
A
B
C
D
Market share
1
4
3
1
Price (1 = lower price, 4 = higher price)
4
2
2
3
Profits
1
3
3
4
Quality
1
4
1
1
Research and development
1
2
1
1
Reputation
2
3
3
2
Sales
1
3
3
1
Services
1
3
2
1

 
 
27. Evaluate your company and its three chief competitors in the area of aggressive competition. (Check the phrase in each column which best characterizes your competitors and your company?
 

 
A
B
C
D
Aggressive, no holds bared, cut throat
x
 
 
 
Hold your own, maintain, react, price cut response
 
 
x
 
Follow the leader, but non-aggressive 
 
 
 
x
No competitive action or response
 
x
 
 

 
 
28.  Evaluate your company and its three chief competitors in the area of risk taking. (Each column should have one check mark.)
 

 
A
B
C
D
High degree
x
 
 
x
Moderate degree
 
 
x
 
Low degree
 
x
 
 
Almost never
 
 
 
 

 
 
29. How do you determine pricing policies?
 
My prices will be extremely competitive with my competitors. I am prepared to generate less profit compared to my competition.  
 
30. Compare your prices with those of your three chief competitors. (Place a check mark for each competitor which answers the question, “Are prices higher, lower, or the same as this company?”)
 

 
A
B
C
D
Higher
x
 
 
 
Lower
 
x
x
 
Same
 
 
 
 

 
 
31. If your product or service is priced lower than your competitors’, explain why and how you can do this and maintain profitability?
 
My prices will be slightly lower than my major competitor. My major competitor tends to make significant profits because of no existing immediate competition.
 
32. How will you justify any price increases over competitors’ products or services?
 
If my price increases it will be because I am incurring substantial operating expenses due to distance. My business is located further north compared to my competitors.
 

 

Part 4: Objectives and Goals: Page 6-30 Q#1-2

 

 

 
1.      What is the length of the planning period?
 
The length of planning period is 8 months.
 
2.      Generally speaking, where do you want to be during the planning period?
 
a)      Profits: My goal is to make at least $20 000 for the first year.
b)      Markets: My goal is to expand as demand increases for my product and services. I will eventually extend my products and services by adding new locations (additional lakes and rivers).
c)      Services or products: My goal is to increase in sales by developing additional fishing packages.
d)     Personally: If I withdraw from this business for any reason, I will designate my share of the business to the next generation (Coon Come family).
Coon-Come Sportfishing Camp – is a fly fishing and outfitting camp (NAICS Code, 114114 Inland Fishing: Commercial fishing, Inland fishing, freshwater) near the Cree Nation of Mistissini in central Quebec. The Camp consists of 3 separate outposts, each offering a slightly unique set of accommodations and fishing opportunities.
While the Camp has not been in operation for several seasons, it has a long history, and the new operators of the Camp – the Coon-Come Family – have an equally long relationship with the Camp and the land it is founded on.
Coon-Come Sportfishing Camp offers spectacular river fishing for the avid fly-fishermen who strive to catch the ultimate catch of the famous brook trout. It also offers lake fishing and provides exclusive access to the renowned Mistassini Lake which is the largest fresh water lake in Quebec. Coon-Come Sportfishing Camp holds an area of 2,336 square kilometers of fishing territory. Mistassini Lake is well-known for producing plenty of fish including all major four fish species.
Our mission as host and outfitter is to provide high-quality fishing packages and to strive for excellence and achieve customer satisfaction.   
Coon-Come Sportfishing Camp is limited to eight guests per day and the emphasis is on personal attention. As management and staff gain knowledge and experience in daily business activity, the goal is to gradually extend its resources and increase its client capacity. The Camp operates on the European plan but depending on growth and demand it may eventually offer the American plan. 
An important goal for Coon-Come Sportfishing is to focus on providing the best quality of service to its customers. The objective for management and staff is to acquire skills through training, all employees will receive training for proper procedures on client reception, first-aid and professional guide training. It is equally important to properly accommodate our clients by completely modernizing the camps before opening its doors. Another objective for Coon-Come Sportfishing will be to contact existing loyal customers and also to actively pursue new clients through proper marketing and advertising. 
Our business philosophy as an outfitting establishment is to preserve and promote the great outdoors for the avid fishermen for generations to come. Our desire is to share the wealth of the natural resources comprised of rives, lakes and the bountiful fish species to all.
The tourism industry continues to grow and existing and developing companies benefit extremely from this trend. Coon-Come Sportfishing is well positioned to take advantage of this trend not only because it is a new company but the location of Camp is ideal and it offers a great fishing destination for its customers.
The proximity of both river and lake fishing from the main Camp is an advantage. Furthermore, the Camp’s location is further north from any other outfitter on Mistassini Lake making the Camp uniquely different from its competitors by its remoteness and seclusion
My experience in outfitting management and fishing guide is a strength and my training in Small Business Development through Heritage College gives me the necessary skills and knowledge to successfully manage an outfitting business venture.
I am still debating on the type of ownership, I may Incorporate or go into a general partnership agreement. 
 
Products & Services
 
Coon-Come Sportfishing Camp is an aboriginally owned semi-remote fly-in fishing lodge. Guests arrive in the Cree Nation of Mistissini and are then flown to Coon-Come Sportfishing Camp via locally owned and contracted float planes.
     
Although it is possible to get to Coon-Come Sportfishing Camp from CNM by boat, Lake Mistassini is a large lake and the weather can be unpredictable - making the float planes the best option.
 
The Camp offers 3 day, 4 day, and 7 day fishing packages focusing on 4 major Sportfishing species. From June through September there is fishing for all 4 species on Mistassini Lake. From August through September of each season the focus is on brook trout on the river.
 
Papas Camp 1 will be operational from June through September.
 
Client capacity will be at eight (8) clients per day.
 
Lodging accommodates four (4) clients per cabin (includes: housekeeping).
 
European plan 3/4/7 day packages (4 clients minimum per package).
 
All trips guided by local aboriginal guides, guide service for every two (2) Fisherman.
 
Boat/motor rental for every two (2) Fishermen (included: gas, oil & life jacket).
 
Fishermen can fish on Mistassini Lake or Pepeshquasati River.
 
Fishermen catch Lake Trout, Brook Trout, Walleye and Northern Pike.
 
Fish preparation and storage service offered.    
 
Mistassini Lake yields the following species for the following seasons:
·           Lake Trout: June to September.
·           Brook Trout: June, July, August and September (peak season in June).
·           Walleye: June, July and August.
·           Northern Pike: June, July and August.
 
Pepeshquasati River yields the following species for the following seasons:
·           Brook Trout: August and September.
 
  
 
 
 

 

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