Initially, EquineAcres will be wholly owned and operated by Edward A. Graves. However, it is important to note that while the tasks are daunting, this is a level of effort and production that the owner has maintained for several years. The only difference between this level of effort and previous years’ efforts is that with EquineAcres all of the owner’s efforts will be focussed on a single project, rather than between employment and home business. Current associates will testify as to the owner’s extraordinary organizational and prioritization skills that have, and will continue to, provide for this level of task assumption.
Following a sufficient period of successful operation, with enough time “at the helm” to allow the business entity to settle-in, the owner will hire a “manager trainee” to begin learning the EquineAcres operation with the potential of taking over as on-site manager. This on-site management concept will be utilized in the future expansions of EquineAcres*2, *3, etc.
Extensive business and personal contacts will also be utilized as needed, on a contract basis, to assist with labor as needed. As the Internet shopping aspect of EquineAcres increases, additional part-time staff will be added to handle various shipping and handling tasks.
6.1 Organizational Structure
The legal form of the company will be determined in conjunction with, and consideration for, the desires of the funding source. The concept is to have a single business entity, with two sub-entities operating under the umbrella company.
The Graves Company–Parent Company
- EquineAcres–All business taking place “on-premise.”
- Graves Farm eXchange–Equine business conducted “off-premise.”
This structure has been chosen because of its ability to meet with potential business opportunities as they are identified.
6.2 Management Team
The key Management Team member will be Edward A. Graves, owner/operator of EquineAcres and author of this business plan. Resume overview:
- A 20+ year successful business career primarily in sales, marketing, sales management, and operations management.
- 5+ successful years involved in every aspect of the equine industry.
- 5+ years operating a small, equine related, home side-business.
- Extremely versatile range of “hands-on” technical and trade abilities.
- Extremely strong computer skills.
- Substantial creative abilities.
- Extensive reputation for organizational skills and time management.
- Outstanding contacts both in general business and equine activity.
In addition, EquineAcres management will be backed by a strong “family team” in complete support of this endeavor. The owner’s wife is well versed in computer and Internet use and possesses an extremely strong equine knowledge. She is my partner and is equally hopeful for the implementation of this business plan.
6.3 Management Team Gaps
Identified gaps, and their resolution, include:
- Legal and financial expertise not currently possessed.
- Retaining of legal and accounting services (individuals already identified).
- Personal study and dedicated effort to increase personal knowledge in these areas.
- Extreme reliance on a single individual, the owner.
- Full participation of immediate family members to understand and assist with all business operations.
- Eventual hire and training of on-site manager.
- Sufficient disability and death insurance to protect lenders and family.
6.4 Personnel Plan
The personnel plan for EquineAcres, Years 1, 2, and 3 is simple.
Year 1: Salary to owner/manager of $3,000/month to cover all personal living expenses.
Year 2: Salary to owner/manager of $3,000/month + hire of assistant staff (on-site manager in training) at $16,000/year.
Year 3: On-site manager salary of $36,000/year + assistant staff (on-site managers in training) at $16,000/year.
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