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Agriculture Products & Retail icon Feed and Farm Supply Business Plan

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Latheethen Feeds

Management Summary

Latheethen Feeds, Inc. is presently made up of three employees. The two current owners and one mill operator put in approximately 75 hours a week. As the new business ownership takes effect and various marketing plans are implemented, the product volume will increase. There is sufficient room in the production mill to expand and produce more feed daily. It is planned that the two new owners will oversee the production and day to day business practices.

We will also be contracting a new outside CPA to handle the corporate book keeping and business accounts (listed in the Profit and Loss table). We value and understand how important proper accounting and reporting of all sales activities are to the successful growth of a company. It is through development of this accuracy that true business growth will be verified and available for the continued security of this well-established family business.

7.1 Personnel Plan

Latheethen Feeds, Inc. is currently run and operated by one person in the mill and one person in the store. In time, as we implement our marketing plan, we will need to hire in an additional person to assist in the mill, and possibly another person to assist Kay in the store. We also could possibly need to hire a delivery person in the year 2005. When the business expands with new customers and larger feed orders, Dennis will need to be on site to assist Kay with inspecting the orders prior to delivery to ensure quality and accuracy of all orders. As growth evolves other family members may be of age to assist in the processes or employees may need to be placed.

As we expand we will hire independent contractors. We believe this way would best suite a company our size. Instead of spending the amount of money required by law to actually hire an employee, we feel we would all benefit more from setting up our personnel in this aspect.

Personnel Plan
FY 2005 FY 2006 FY 2007 FY 2008 FY 2009
Dennis $12,000 $18,000 $20,000 $25,000 $25,000
Kay $12,000 $15,000 $15,000 $15,000 $15,000
Extra Mill Operator $7,000 $12,000 $18,000 $18,000 $24,000
Extra Store Help $0 $0 $10,000 $15,000 $18,000
Total People 3 3 4 4 4
Total Payroll $31,000 $45,000 $63,000 $73,000 $82,000