Thinking about opening a poultry processing business? We tell you what you need to know to get started.
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Best Practices: Business Plans for Poultry Processing Businesses
A great business plan will lay a strong foundation for growth in your startup poultry processing business.
Business plans address a wide range of issues, including startup financials. The financial chapter of your business plan is one of the first places investors and lenders look, so it needs to contain forecasts and budgets that are rooted in business realities rather than your personal best case scenario.
As a result, we strongly recommend educating yourself in business plan financial basics before finalizing your business plan's financial chapter.
Don't Ignore the Competition
Well in advance of opening a poultry processing business in your town, it's a good idea to find out how strong the competition is. We've provided the link below to help you generate a list of competitors in your area. Simply enter your city, state and zip code to get a list of poultry processing businesses in your town.
Is the established competition doing a good job? It's important to understand their strengths and weaknesses and think through how you'll stake up against those established businesses.
Learn from Others Who Are Already In This Space
If you are interested in starting a poultry processing business, it's essential that you talk to somebody who is already in the business. It's very unlikely that the local competition will talk to you. What's in it for them?
On the other hand, an individual who has a poultry processing business in a different city can be a great learning resource for you, provided that you won't be directly competing with them. In that case, the business owner may be more than happy to discuss the industry with you. If you are persistent, you can find a business mentor who is willing to help you out.
Where can an aspiring entrepreneur like you find a poultry processing business founder that lives outside of your area?
No problem! Just use the link below and try a random city/state or zipcode. Then start dialing for advice until you are successful.
Poultry Processing Business Acquisitions: Financial Considerations
Startup poultry processing businesses carry a host of financial risks and concerns. Without an operational history, it's hard to predict how your startup will actually perform in the marketplace.
One of the ways to mitigate the financial risk of a startup is to modify your approach to tap into the financial benefits of buying an existing poultry processing business. Established poultry processing businesses have reliable revenue streams and loyal customer bases – both of which will shape your company's financial landscape.
Based on the acquisition target's financial records, you should be able to piece together a realistic forecast of your new company's financial picture for the first year and beyond. If you need assistance, we suggest talking to an accountant or professional business planning consultant.
Don't Forget About Franchising As an Option
Recognize that your chances of making a success of your new business are substantially improved if you become a franchisee in lieu of doing everything yourself.
If you planning on starting a poultry processing business, you should determine whether there are good franchise opportunities available that might make your life much easier.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you currently own a poultry processing business, these resources will come in handy:
If you sell to poultry processing businesses, you're in the wrong place. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.