ndustry Overview

Maggots are key players in organic farming; they are used to feed animals and birds that are raised
organically. They are used to feed fishes, ducks, pigs, free range chickens, birds and other animals. A
wide variety of species of maggots can be used and they include the black soldier fly, as well as various
other fly species. Because of its availability and easy access, fly species are often used which are
indigenous to the area of the maggot cultivation.

The maggot farming industry is indeed a fast – growing industry and pretty much active in countries such
as United States of America, Nigeria, Benin Republic, Australia, New Zealand, Japan, China, Greece,
Portugal, and Canada et al. There is no single maggot farm company that has a dominant market share in
the industry; hence smaller maggot farms can successfully make profit. Statistics has it that maggots are
sold all over the world; the market is indeed a sizable one.

One thing is certain when it comes to the maggot farming business, if you are able to conduct your
market research and feasibility studies, you are likely not going to struggle to sell your maggots because
there are always farms and fishermen out there who are ready to buy from you.

There are few barriers to entry into the maggot farming business. Usually, all inputs are readily available.
In the nearest future, players in this industry may face the highest costs associated with accessing
technology, especially in relation to genetic modification engineering in maggots breeding.

Maggot Farming Business Plan – Executive Summary

Lawrence Jamborees® Maggot Farms, Inc. is a licensed commercial farming company that will major in
maggot farming and will be based in the outskirts of Little Rock, Arkansas – United States. We have done
our detailed market research and feasibility studies and we were able to secure 2 hectares of suitable
moist farm land to start our maggot farming business. Our maggot farming business is a going to be a
standard business hence will be involved in selling maggots to farmers and fishermen beyond Little Rock
– Arkansas.

At Lawrence Jamborees® Maggot Farms, Inc. we will be involved in the cultivation of maggots, and
within the first five years of officially running Lawrence Jamborees® Maggot Farms, Inc., we will start our
maggots packaging plant and also start exporting our packaged maggots to other parts of the world.
This is why asides from the fact that we have secured the required land and most of the farming
equipment and machines, we have also hired some key employees who are currently undergoing
training so as to fit into the ideal picture of the 21st century maggot farming business workforce that we
want to build.

We are in the maggots farming business because we want to leverage on the vast opportunities available
in the Agriculture industry, to contribute our quota in growing the U.S. economy, and to export maggots
from the United States to other countries and to make profit.

Lawrence Jamborees® Maggot Farms, Inc. is well positioned to become one of the leading maggot farms
in the United States of America, which is why we have been able to source for the best hands and
machines to run the business with. We have put strategies in place that will help us employ best
practices when it comes to maggot farming, processing and packaging as required by the regulating
bodies in the United States of America.

Lawrence Jamborees® Maggot Farms, Inc. is a private registered commercial farming company that is
owned by Lawrence Jamborees and his immediate family members. Lawrence Jamborees is a graduate
of Soil Science from the University of Arkansas with over 8 years of hands on experience working for
some of the leading agriculture research centers and organic farms in the United States of America.

Our Product Offerings

Lawrence Jamborees® Maggot Farms, Inc. is a maggot farming company that will be involved in farming
different species of maggots for both the United States’ market and the global market. We will also
ensure that we operate a standard maggot packaging plant as part of our complimentary business.

We are in the maggot farming business to make profits, and we are going to do all that is permitted by
the law in the United States of America to achieve our business aim and objective. These are the areas
we will concentrate on in our maggot farms. If need arises we will definitely add more agriculture
produce to our list;

Cultivation of different species of maggots

Packaging maggots for export especially to fishermen on high seas and farmers of free range chickens
Related training, consultancy and advisory services

Our Vision Statement

Our Vision is to become one of the top 3 leading maggot farms not just in the United States of America
but also on the global stage.

Our Mission Statement

We are set to become the standard of how world – class maggot farms should be run not just in Little
Rock – Arkansas, but also throughout the United States of America. We want our well – packaged
maggots to flood every nooks and crannies of the United States of America and other countries of the
world.

Our Business Structure

Lawrence Jamborees® Maggot Farms, Inc. is a business that is established with the aim of competing
favorably with other leading maggot farms in the industry. This is why we will put the right structure in
place that will support the kind of growth that we have in mind while setting up the business.

At Lawrence Jamborees® Maggot Farms, Inc., we will ensure that we hire people that are qualified,
hardworking, creative, customer centric and are ready to work to help us build a prosperous business
that will benefit all our stakeholders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff
and it will be based on their performance for a period of five years or more as agreed by the board of
trustees of the company. In view of the above, we have decided to hire qualified and competent hands
to occupy the following positions;

Chief Operating Officer

General Farm Manager

Administrator/Accountant

Maggot farm workers

Sales and Marketing Executive

Front Desk Officer

Roles and Responsibilities

Chief Executive Officer – CEO:

Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling,

and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities;
planning, monitoring, and appraising job results; developing incentives; developing a climate for offering
information and opinions; providing educational opportunities

Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e.
leading the development and implementation of the overall organization’s strategy

Responsible for fixing prices and signing business deals

Responsible for providing direction for the business

Responsible for signing checks and documents on behalf of the company

Evaluates the success of the organization

General Farm Manager

Responsible for the planning, management and coordinating all farm activities across the various
sections on behalf of the organization

Supervises other section manager

Ensures compliance during project executions

Provides advice on the management of farming activities across all sections

Responsible for carrying out risk assessment

Uses IT systems and software to keep track of people and progress of the growth of maggots

Responsible for overseeing the accounting, costing and sale of farm produce after harvest

Represents the organization’s interest at various stakeholders’ meetings

Ensures that farming goals are achieved, the most efficient resources (manpower, equipment, tools and
chemicals et al) are utilized and different interests involved are satisfied. Responsible for preparing
financial reports, budgets, and financial statements for the organization

Responsible for overseeing the smooth running of HR and administrative tasks for the organization

Handles all financial transactions for the company

Defines job positions for recruitment and managing interviewing process

Carries out staff induction for new team members

Responsible for training, evaluation and assessment of employees

Oversees the smooth running of the daily farming activities across the various farming sections

Administrator/Accountant

Responsible for overseeing the smooth running of HR and administrative tasks for the organization

Defines job positions for recruitment and managing interviewing process

Carries out staff induction for new team members

Responsible for training, evaluation and assessment of employees

Responsible for preparing financial reports, budgets, and financial statements for the organization

Responsible for financial forecasting and risks analysis

Responsible for developing and managing financial systems and policies

Responsible for administering payrolls

Ensures compliance with taxation legislation

Handles all financial transactions for the farm

Serves as internal auditor for the farm

Maggot Farm Workers

Responsible for feeding the maggots on a daily basis

Ensures that the water and the temperature of the containers where the maggots are kept is within the
expected standard
Responsible for changing the content in various maggot containers

Responsible for harvesting maggots when they are due for harvest.

Works closely with the General Manager to achieve the organizations’ goals and objectives

Handles any other duty as assigned by the general farm manager

Sales and Marketing Officer

Manages external research and coordinates all the internal sources of information to retain the
organizations’ best customers and attract new ones

Models demographic information and analyze the volumes of transactional data generated by customer
purchases

Identifies, prioritizes, and reaches out to new partners and business opportunities

Responsible for supervising implementation, advocates for customer’s needs, and communicates with
clients

Develops, executes and evaluates new plans for expanding increase sales

Documents all customer contact and information

Represents the company in strategic meetings

Helps to increase sales and growth for the business

Front Desk/Customer’s Service Officer

Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing
inquiries

Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a
personalized customer service experience of the highest level

Through interaction with clients on the phone, uses every opportunity to build client’s interest in the
company’s produce

Manages administrative duties assigned by the HR manager in an effective and timely manner

Consistently stays abreast of any new information on the organizations’ products, promotional
campaigns etc. to ensure accurate and helpful information is supplied to potential clients when they
make enquiries
Receives parcels/documents for the business

Distributes mails in the organization

Handles any other duties as assigned by the line manager

Maggot Farming Business Plan – SWOT Analysis

Lawrence Jamborees® Maggot Farms, Inc. do not intend to launch out with trial and error hence the
need to conduct a proper SWOT analysis. We know that if we get it right from the onset, we would have
succeeded in creating the foundation that will help us build a standard maggot farm that will favorably
compete with leading maggot farms in the United States of America and in the rest part of the world.

We are quite aware that there are several large scale, medium scale and small scale maggot farms all
over Little Rock – Arkansas and even in the same location where we intend locating ours, which is why
we are following the due process of establishing a business.

We know that if proper SWOT analysis is conducted for our business, we will be able to position our
business to maximize our strength, leverage on the opportunities that will be available to us, mitigate
our risks and be well equipped to confront our threats.

Lawrence Jamborees® Maggot Farms, Inc. employed the services of an expert HR and Business Analyst
with bias in the agriculture cum farming industry to help us conduct a thorough SWOT analysis and to
help us create a business model that will help us achieve our business goals and objectives.

Here is a summary from the result of the SWOT analysis that was conducted on behalf of Lawrence
Jamborees® Maggot Farms, Inc.;

Strength:

Our strength as a maggot farm company is the fact that we have healthy relationships with loads of
major players (organic farmers and fishermen et al who rely on daily supply of maggots) in the
agriculture industry in the United States. We have some of the latest maggot farming machines, tools
and equipment that will help us cultivate various species of maggots in commercial quantities with less
stress.
Asides from our relationship (network) and equipment, we can confidently boast of having some the
most experienced hands in the maggot farming business in Little Rock – Arkansas in our payroll and we
have a competent management team that has what it takes to start and grow a business within the
shortest time frame.

Weakness:

Our weakness is that we are a new maggot farming business in the United States; it might take some
time for our organization to break into the market and gain acceptance especially from international
markets in the fast growing and highly competitive maggot farming business. Another weakness is that
we may not have the required cash to promote our business the way we would want to.

Opportunities:

The opportunities that are available to us cannot be quantified, we know that a large number of organic
farmers and fishermen rely on daily supply of maggots. We are ready to take advantage of every
opportunity that is available in the industry.

Threat:

Just like any other business, one of the major threats that we are likely going to face is economic
downturn. It is a fact that economic downturn affects purchasing/spending power. Another threat that
may likely confront us is the arrival of a new maggot farm in same location where our target market
exists and who may want to adopt same business model like us.

Maggot Farming Business Plan – MARKET ANALYSIS

Market Trends

A close watch on happenings in the maggot farming business shows that operators in the industry are
leveraging on the campaign for healthy eating (most especially organic foods) in promoting their
produce. As a matter of fact, organic farmers and some fishermen cannot successfully carry out their
business without a daily supply of different species of maggots. Despite the fact that organic food is
expensive, its sale is on the increase and it is indeed profitable.
It is on record that revenue for the maggot farming line of business has maintained positive growth. This
is so because in recent time, a growing number of individuals shifted to healthy eating and consuming
organic produce, resulting in high demand.

One of the common trends in the maggot farming line of business is that most players in the industry are
no longer concentrating only on selling maggots within their neighborhood. They now find it easier to
cultivate various species of maggots and then properly package and ship them to markets beyond their
operational base especially to fishermen on the high seas and free range chicken farms.

Our Target Market

Naturally, the end users of maggots and also those who benefit from the business value chain of the
maggot farming industry are all encompassing.

In view of that, we have positioned our maggot farming business to service (supply) a wide range of
organic farms and other outlets all across Little Rock – Arkansas and other key cities all over the United
States of America and Canada.

We have conducted our market research and we have ideas of what our target market would be
expecting from us. We are in business to retail our maggots to the following groups of people and
businesses;

Organic farmers who depend on regular supply of maggots

Owners of free range chicken farms and other birds

Farmers of animals such as ducks, frogs, moles, lizards, and small insects et al who need maggot as feeds
for their animals

Fishermen who need maggots as bait for fishes

Laboratories and research centers that make use of maggots

Our Competitive Advantage

A close study of the maggot farming industry reveals that the market has become much more intensely
competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric
and proactive if you must survive in this industry. We are aware of the stiff competition and we are
prepared to compete favorably with other maggot farms in Little Rock – Arkansas.

Lawrence Jamborees® Maggot Farms, Inc. is fully aware that there are competitions when it comes to
selling different species of maggots all over the globe, which is why we decided to carry out thorough
research so as to know how to take advantage of the available market in the United States and other
parts of the world.

We have done our homework and we have been able to highlight some factors that will give us
competitive advantage in the marketplace; some of the factors are effective and reliable maggots
farming processes that can help us sell our produce at competitive prices, good network and excellent
relationship management.

Our competitive advantage lies in the power of our team; our workforce. We have a team of
hardworking and highly proficient maggots farmers, a team with excellent qualifications and experience
as it relates to maggots farming. Aside from the synergy that exist in our carefully selected team
members, we have some of the latest and efficient maggots farm machines and equipment and we will
be guided by best practices in the industry.

Another competitive advantage that we are bringing to the industry is the fact that we have designed
our business in such a way that we will operate an all – round standard maggot farms that will be
involved in packaging a wide species of maggots for both local and international market. With this, we
will be able to take advantage of all the available opportunities within the industry.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best
within our category in the industry. It will enable them to be more than willing to build the business with
us and help deliver our set goals and achieve all our business aims and objectives.

Maggot Farming Business Plan – SALES AND MARKETING STRATEGY

We are aware that the reason why some maggot farms hardly make good profit is their inability to sell
off their farm produce as at when due. In view of that, we decided to set up a standard maggot
packaging plant and also to cultivate our feeds for our maggots. It will indeed help us maximize profits.

Our sales and marketing team will be recruited based on their vast experience in the maggot and organic
farming industry and they will be trained on a regular basis so as to be well equipped to meet their set
targets and the overall business goal of Lawrence Jamborees® Maggot Farms, Inc.

Our goal is to grow Lawrence Jamborees® Maggot Farms, Inc. to become one of the leading maggot
farms in the United States of America which is why we have mapped out strategies that will help us take
advantage of the available market and grow to become a major force to reckon with not only in Little
Rock – Arkansas, but also in other cities in the United States of America.

Over and above, we have perfected our sale and marketing strategies first by networking with agriculture
merchants and businesses who are likely to become our customers. In summary, Lawrence Jamborees®
Maggot Farms, Inc. will adopt the following strategies in marketing our different species of maggots;

Introduce our business by sending introductory letters alongside our brochure to stakeholders such as
organic farmers who depend on regular supply of maggots, owners of aquariums who need maggots to
feed their fishes or other sea creatures in their aquariums, farmers of animals such as ducks, frogs,
moles, lizards, and small insects et al who need maggots as feed for their animals, fishermen who need
maggots as bait for fishes, owners of free range chicken farms and laboratories and research centers that
make use of maggots in and around Little Rock – Arkansas

Advertise our business in organic farms and agriculture related magazines and websites

List our maggot farming business on yellow pages ads

Attend related agriculture and food expos, seminars, and business fairs et al

Leverage on the internet to promote our business

Engage in direct marketing

Encourage the use of word of mouth marketing (referrals)

Sources of Income
Lawrence Jamborees® Maggot Farms, Inc. is in the maggot farming business for the purpose of
maximizing profits hence we have decided to explore all the available opportunities within the industry
to achieve our corporate goals and objectives. In essence we are not going to rely only on the sale of our
various species of maggots to generate income for the business.

Below are the sources we intend exploring to generate income for Lawrence Jamborees® Maggot Farms,
Inc.;

Cultivation of different species of maggots

Packaging of different species of maggots and shipping them to fishermen and organic farmers beyond
Little Rock – Arkansas

Related training, consultancy and advisory Services

Sales Forecast

From the survey conducted, we were able to discover that the sales generated by a maggot farm depend
on the size farm and location of the farm.

We have perfected our sales and marketing strategies and we are quite optimistic that we will meet or
even surpass our set sales target of generating enough income/profits from the first year of operations
and build the business from survival to sustainability.

We have been able to critically examine the maggot farms industry, we have analyzed our chances in the
industry and we have been able to come up with the following sales forecast.

First Year-: $200,000

Second Year-: $500,000

Third Year-: $800,000

N.B: This projection was done based on what is obtainable in the industry and with the assumption that
there won’t be any major economic meltdown that can impact negatively on household spending, bad
weather cum natural disasters and unfavorable government policies. Please note that the above
projection might be lower and at the same time it might be higher.

Our Pricing Strategy

Some of the factors that will help you sell your farm produce at the right price that will guarantee that
you make profit is dependent on your strategy while some of the factors are beyond your control. For
example, if the climatic condition is unfavorable and if there are natural disasters in the location where
you have your commercial farm, then it will directly affect the prices of your farm produce.

If you want to get the right pricing for your farm produce, then you should ensure that you choose a
good location, choose a good breed that will guarantee bountiful harvest, cut the cost of running your
farm to the barest minimum and of course try as much as possible to attract buyers to your farm as
against taking your farm produce to the market to source for buyers.

We are quite aware that one of the easiest means of penetrating the market and acquiring loads of
customers for all our different species of maggots is to sell them at competitive prices hence we will do
all we can to ensure that the price of our maggots is going to be what other maggot farmers would look
towards beating.

One thing is certain, the nature of the maggot farming business makes it possible for farmers to place
prices for their farm produces (maggots) based on their discretion without following the benchmark in
the industry. The truth is that it is one of the means of avoiding running into a loss. The easier you sell off
your harvest the better for your business.

Payment Options

The payment policy adopted by Lawrence Jamborees® Maggot Farms, Inc. is all inclusive because we are
quite aware that different customers prefer different payment options as it suits them but at the same
time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Lawrence Jamborees® Maggot Farms, Inc. will make available to her
clients;
Payment via bank transfer

Payment with cash

Payment via credit cards/Point of Sale Machines (POS Machines)

Payment via online bank transfer

Payment via check

Payment via mobile money transfer

Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our clients make payment for
our maggots purchase without any stress on their part. Our bank account numbers will be made
available on our website and promotional materials to clients who may want to deposit cash or make
online transfer for our maggots.

Maggot Farming Business Plan – Publicity and Advertising Strategy

Any business that wants to grow beyond the corner of the street or the city they are operating from
must be ready and willing to utilize every available means to advertise and promote the business. We
intend growing our business which is why we have perfected plans to build our brand via every available
means.

We know that it is important to create strategies that will help us boost our brand awareness and create
a corporate identity for our maggot farm business. Below are the platforms we will leverage on to boost
our maggot farm – brand and to promote and advertise our business;

Place adverts on both print (newspapers and magazines) and electronic media platforms

Sponsor relevant community based events

Leverage on the internet and social media platforms like Instagram, Facebook, twitter, YouTube, Google +
et al to promote our business

Install our billboards in strategic locations all around Little Rock – Arkansas

Engage in roadshows from time to time in targeted neighborhoods

Distribute our fliers and handbills in target areas

Contact stakeholders such as organic farmers who depend on regular supply of maggots, owners of
aquariums who need maggots to feed their fishes or other sea creatures in their aquariums, owners of
free range chicken farms, farmers of animals such as ducks, frogs, moles, lizards, and small insects et al
who need maggot as feeds for their animals, fishermen who need maggots as bait for fishes and
laboratories and research centers that make use of maggots in and around Little Rock – Arkansas by
calling them up and informing them of Lawrence Jamborees® Maggot Farms, Inc. and the different
species of maggots we sell

List our maggots farm in local directories

Advertise our maggots farm in our official website and employ strategies that will help us pull traffic to
the site

Ensure that all our staff members wear our branded shirts and all our vehicles and trucks are well
branded with our company logo et al.

Maggot Farming Business Plan – Financial Projections and Costing

When it comes to calculating the cost of starting a maggot farm, there are some key factors that should
serve as a guide. The capacity of the farm determines the total cost of setting up the business. Below are
some of the basic areas we will spend our startup capital in setting up our maggot farm;

The total fee for incorporating the Business (maggot farm) in United States of America – $750

The budget for key insurance policies, permits and business license – $2,500

The amount needed to acquire/lease a suitable moist farm land – $20,000

The amount required for preparing the farm land (installing different maggot farming containers, casing,
and fencing et al) – $30,000

The cost for acquiring the required working tools and equipment – $50,000

The amount required for purchase of the needed inputs – $2,000

The cost of launching an official website – $600

The amount required for payment of workers for a period of 3 months – $30,000

Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,000

Going by the report from detailed research and feasibility studies conducted, we will need an average of
$100,000 to start a standard maggot farm business in the United States of America.
Generating Funds/Startup Capital for Lawrence Jamborees® Maggot Farms, Inc.

No matter how fantastic your business idea might be, if you don’t have the required money to finance
the business, the business might not become a reality. Finance is a very important factor when it comes
to starting a standard maggot farm.

Lawrence Jamborees® Maggot Farms, Inc. is a privately registered business that is solely owned and
financed by Lawrence Jamborees and his immediate family members. They do not intend to welcome
any external business partner which is why he has decided to restrict the sourcing of the startup capital
to 3 major sources.

Generate part of the start – up capital from personal savings and sale of his stocks

Generate part of the start – up capital from friends and other extended family members

Generate a larger chunk of the startup capital from the bank (loan facility)

N.B: We have been able to generate about $20,000 (Personal savings $15,000 and soft loan from family
members $5,000) and we are at the final stages of obtaining a loan facility of $80,000 from our bank. All
the papers and documents have been duly signed and submitted, the loan has been approved and any
moment from now our account will be credited.

MAGGOT FARMING BUSINESS GROWTH: Sustainability and Expansion Strategy

One of our major goals of starting Lawrence Jamborees® Maggot Farms, Inc. is to build a business that
will survive off its own cash flow without injecting finance from external sources once the business is
officially running. We know that one of the ways of gaining approval and winning customers over is to
sell our maggots a little bit cheaper than what is obtainable in the market and we are well prepared to
survive on lower profit margin for a while.

Lawrence Jamborees® Maggot Farms, Inc. will make sure that the right foundation, structures and
processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate
culture is designed to drive our business to greater heights and training and re – training of our
workforce is at the top burner of our business strategy.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it
will be based on their performance for a period of three years or more as determined by the board of
the organization. We know that if this is put in place, we will be able to successfully hire and retain the
best hands we can get in the industry and they will be more committed to help us build the business of
our dreams.

Check List/Milestone

Business Name Availability Check: Completed

Business Incorporation: Completed

Opening of Corporate Bank Accounts in various banks in the United States: Completed

Opening Online Payment Platforms: Completed

Application and Obtaining Tax Payer’s ID: In Progress

Application for business license and permit: Completed

Purchase of All forms of Insurance for the Business: Completed

Leasing of suitable – moist farm land in Little Rock – Arkansas: Completed

Conducting Feasibility Studies: Completed

Start – up Capital Generation: Completed

Writing of Business Plan: Completed

Drafting of Employee’s Handbook: Completed

Design of The Company’s Logo: Completed

Graphic Designs and Printing of Packaging, Marketing and Promotional Materials: Completed

Recruitment of employees: In Progress

Purchase of the needed working tools, machines and equipment: Completed

Creating Official Website for the Company: In Progress

Creating Awareness for the business (Business PR): In Progress

Farm land Treatment, Health and Safety Arrangement: In Progress

Establishing business relationship with key players in the industry: Compl