Agriculture Fruit Farm Business

Plan

Executive Summary
Introduction

 
Ministry of Agriculture and Marine Resources, Department

Within reach;

Nicholl’s Town, ANDROS, Bahamas - Farmers in North Andros have won support from
wholesalers, hoteliers, restaurateurs, chefs and the Ministry of Tourism following a
weekend convention, Hosted by Bahamas Agricultural and Industrial Corporation (BAIC), it
marked the second time buyers, mainly from New Providence, and farmers met to discuss
the way forward in food production, For Patrick Treco of Continental Food, the farmers
“are doing a real good job. We have a good season ahead of us and definitely we will be
supporting Androsians and all farmers in The Bahamas.

“The government system has to protect Bahamian farmers so that they can get their
products to the buyers to sell without sending them to the dump, and also “The permit
system needs to be tightened so that a lot of Bahamian products can reach the consumer in
The Bahamas and a lot of money will end up staying in The Bahamas instead of going to
Florida.”

Star Farms is being formed from the accomplishment and successful vegetable farms, and
live stocks farms in the surrounding and greater Bahamas. With the implementation of
long-researched horticultural and agronomic techniques, as well as compost and soil
blending technology now being exploit by government agencies and farmer groups alike.

Star Farms is a company striving to become a combination of cutting edge, highest quality,
and efficient food technology and production. We shall be committed to the improvement
of food taste and nutritional quality. It is being founded to build upon an extensive array of
biological and horticultural education, experience, and the research of its founders. This is
further coupled with the experience of foreign farmers from Cuba and Haiti alike with a
vase numbers of years experience in the related industry which shall assist in the day to
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day operation, the current manager Yamilesys Castillo Pozo Cash, collectively in
consultation with the present owner Kennedy Cash.

The Company

Star Farms is a Caribbean based Farmers group of individuals; in collaboration with foreign
based farmers combined collectively sharing and producing strategies and new concepts in
the related field of farming, Star Farms is located in Nassau, Bahamas, whose mission is to
provide high quality, nutritional, and flavorful vegetables, fruits and live stocks for
consumption in both near and remote regions of the Caribbean, but meanly in the Bahamas.
Additionally the company proposes to provide high quality planting materials for use
nationwide.

The idea behind the business is to provide healthy and delicious livestock’s, vegetables and
fruit to the public. In addition to vegetables and fruits, the company plans to produce and
market manure compost garden amendment products.

Star Farm's management team is led by Mr. Kennedy Cash as Business Manager and
overseer, who has extensive knowledge of the industry. Mr Manson Castillo, Cuban
national, Field Manager and who has extensive knowledge and expertise in the raising of
live stocks, Mrs Yamilesys Castillo Pozo Cash, Operations manager, The company expects to
employ four temporary employees during the start-up location phase, five employees on a
permanent basis, and three part-time employees and additional employees as products
increases and work load stretches.
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Products

Star Farms plans to concentrate on vegetables as its primary product. This includes
growing carrots, tomatoes, romaine lettuce, leeks, red onions, summer squash, spinach,
pumpkins, winter squash, globe beets, and winter greens amongst many other vegetables.
The company's farm, will have a capacity sufficient to produce in excess of 400,000 lbs. of
vegetables per year.

The company plans to utilize traditional and more advanced plant technologies to produce
new cultivars of strawberries and lima beans with locally-adapted superior characteristics
for Andros rich soil growing area.

This strategy will allow Star Farms to produce crops during most of the year and will allow
double cultivation of the greenhouses with almost no additional heating necessary in the
winter months.

The Market

Over the past decade the market for organic food has grown by 15% to 20% and every year
40% of Bahamian consumers occasionally reach for something labeled organic. Sales for
organic foods are expected to top in the area estimated around $20 million this year. Sales
by farmers' markets have increased by 69% since 1995, to 200 markets in Nassau, and
about 2 to 3 thousand in the entire Bahamas, and the number of farmers who sells has
more than tripled to 67,000. About one hundred thousand Bahamians weekly now get their
fresh food directly from the farmers who grew it. This makes for an excellent environment
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for a industry participant such as Star Farms that is willing to compete in a niche market
and be first to the market record sales with new products .

Financial Considerations

The company is seeking government grant in terms of venue in Andros, start up funding, in
the amount of $50,000 in both short-term and long-term, private loans to finance the
modern equipment necessary for cultivation and development, modernized the facilities,
and cover start-up expenses and first year losses. It is estimated that the company will
begin to make a profit in Year 2 of operations. The company does not expect to have any
cash flow problems during the first four years of operations.

1.1 Mission

Star Farms is a Caribbean -based company, whose mission is to provide high quality,
nutritional, and flavorful fruits & vegetables for consumption in both near and remote
regions of Nassau, the Bahamas. Additionally the company will provide high quality
planting materials for Use Island wide.

Company Summary
Star Farms is a start skillful group of experience local farmers with national wide foreign
expert cultivators with numerous years of experience and by recent union of marriage
become a family based operation, to add and which is also conserved within their portfolios
in service thereof successfully, Livestock’s and vegetable farms abroad. The idea behind
the business is to provide healthy and delicious vegetables and fruit with the blend,
combination of livestock’s to the public locally. In addition to the above mention, the
company plans to produce and market manure compost garden amendment products.
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2.1 Start-up Summary

Projected revenues for Year 1; $-60,000 – 80,000, respectively. Additionally the company

estimates that once fully operational, income per product, per annum would be as follows;
vegetable ($110,000) manure ($24,000) and horticulture ($12,000).

Start-up Expenses

Legal $1,500

Facilities modification $15,000

Seed $600

Organic Herbicides/Pesticides $2,500

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Consultants $3,000

Insurance $5,000

Research and development $5,000

Expensed equipment $25,000

Other $10,000

TOTAL START-UP EXPENSES $67,600

Start-up Assets

Cash Required $40,000

Start-up Inventory $10,000

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Other Current Assets $6,500

Total Requirements $

Products
While at La Maya Farm Manson, steadily used and experimented with compost and
fertilized with manure of different kinds. The most important things with manure usage is
to eliminate the viable weed seed drawback by thoroughly composting the manure, to add
enough cellulose on product to bring it to the proper ratio and to bring its water content to
proper levels. A properly composted manure product has no seeds that will germinate and
proliferate in it. Additionally, a properly composted manure product has something a
chemically formulated synthetic fertilizer does not have: enzymes. Enzymes are critical for
producing a truly nutritious and superior flavored product. Research has shown that the
superior flavor of a fruit or vegetable is closely related to vitamin content and folic acid
content in green vegetables.

The state-of-the-art vegetable equipment starting up in the new location utilizes

revolutionary harvest designs that:

 Allow faster, longer growth

 Cut the harvest labor by over 80%

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 Cut the harvest time and by so doing:

o Decrease loss in weight gain, and

o Eliminate weight loss from shock.

3.1 Product Description

Vegetables

Star Farms first line of production will be the green vegetable and red vegetable. During the
summer months Star Farms will be growing carrots, romaine lettuce, leeks, red onions,
summer squash, and spinach. In the fall, production will center on pumpkins, winter
squash, globe beets and winter greens. To add with the growth of the popular organic food
niche, Star Farms will make its focal point to produce on the intermediate organic label.
This means that approximately 70% of the food production process will be organic and all
organic foods produced by Star Farms will be eligible for the "contains organic ingredients"
label. The company's farm will make its goal to have a capacity sufficient to produce in
excess of 200,000 plus lbs. of vegetables per year.

Strawberries

The company's more technical horticultural aspects include efforts to utilize traditional and
more advanced plant technologies to produce new cultivars of crops such as strawberries
and lima beans with locally-adapted superior characteristics for the Andros growing area.
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Flavor, disease resistance, adaptability to green-house culture, fall and winter season
production are factors being combined in greens cultivation to tap into the $6.05 pint berry
market of the fall and winter.

Star Farms strategy is a combination of the two technologies during the cool winter months
which will allow the utilization of normally wasted space in the greenhouses for the high
price winter greens production. This will allow double cultivation of the greenhouses with
almost no additional heating necessary in this climate.

3.2 Technology
The company is currently seeking contact with farmers around the Caribbean in order to
learn about and acquire new hybrids of strawberries and vegetables that are hardier and
grow faster in our local microclimates. These and other available species and systems will
be constantly tracked.

3.3 Future Products

In the meantime, the company plans are to explore the livestock’s industry we believes this
to be a high revenue venture with retail prices running in excess of 7.00 per pound in most
places. The company also believes that if livestock’s  production is successful then it could
become the second best endeavor of Star Farms.

Production facility with all the necessary capital equipment approximately five acres from
the current farm. Grant of this facility would allow Star Farms to begin production and to
capitalize on this higher margin product. What makes this most attractive is the two
ventures have significant joint cost potential, allowing for a reduction in marginal costs for
all products and creation of real economies of scale that would provide Star Farms with a
competitive advantage.
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Market Analysis Summary

At a time when eating has become a political statement, the government is paying up to $19
billion a year to subsidize commodity crops in a glutted global market. Private and
Governmental based organization officials say that nearly 40% of all farm income now
comes directly from government subsidies, and the farm support signed by the
government will pay $ over 10 years, which includes $
in new spending. However, there are two market niches that are growing at an amazing
rate, the organic market and the simple farmers' market.

The organic market provides less than 2% of the nation's food supply and takes up less
than 1% of its cropland. But organic farms are flourishing as never before. Over the past
decade the market for organic food has grown by 15 to 20% and every year 40% of U.S. and
locally based consumers occasionally reach for something labeled organic. Sales for organic
foods are expected to top $11 million this year. Conglomerates as big as Super Value,
Budget Meat Mart, Fresh Market are now launching or buying organic lines and selling
them in their mainstream supermarkets.*

With no subsidies and no middle men, farmers' markets has increased by 79% since 1995,
to 137 markets in the Bahama islands, and the number of farmers who sell at them has
more than tripled, the Agriculture Department has reported. About fifty thousand
Bahamians a week now get their fresh food directly from the farmers who grew it. "Right
now, green markets are growing faster than anything in agriculture.

These numbers, of course, represent a very thin slice of the big pie of national food.
Farmers' markets reported about $2 million in sales last year, compared with more than
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$200 million in overall farm revenue. Barely 3% of the nation's 300 hundred farmers sell
some of what they grow directly to consumers.

But in an era of big-package food stores, when 3 major grocery chains control the purchase
of 50% of fresh food, plus the top hotels and restaurants the proliferation of open-air
markets has come out of nowhere, giving more consumers an option and allowing many
small farmers to stay in business.**

With these trends in mind, Star Farms will concentrate on:

 Wholesale live vegetable markets

 Wholesale live vegetable markets that sell organic produce

 Wholesale live Fruits markets.

 Fresh farmers' markets.

 Fall and winter greens market.

 Nursery outlets selling composted manure.

 Wholesale and retail live stock market and outlets.

4.1 Market Segmentation

The target customers include oriental vegetable markets demanding organic and semi-
organic green vegetables, vegetable processors, and private individual buyers through
direct selling and farmers markets. The company will continue to service the existing
customers of the purchased vegetable farms. In its greens production the company will
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target virtually all main food outlets. The company plans to use the Internet as one of its
marketing channels in the future.

In addition the target customer shall also have the options to Fruits and Live stocks
opportunities or preferences, private individual buyers through direct selling and farmers
markets. Star Farms entails to going forward intents to practically pursue all main food

outlets. With internet marketing alongside flyers, posters and still ads as its advertising,
promotion, and selling channels

The company's target customers will be as follows:

Vegetables:

 Oriental vegetable markets demanding organic and semi-organic vegetables.

 Vegetable processors.

 Super Value, Budget, High End hotels

 People approaching the farm.

 Roadside stands and farmers' markets.

Product-Bagged Manure:

 Nursery and Garden Centers.

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 Private customers approaching facility.

 Bulk customers.

Fruits:

 Fruits markets and venders demanding products.

 Fruits processors.

 Super Value, Budget, High End hotels

 People approaching the farm.

 Roadside stands and farmers' markets.

Livestock’s

 Livestock’s markets and venders demanding products.

 Super Value, Budget, High End hotels

 People approaching the farm.

 Roadside stands and livestock’s markets.

The company will also promote and market to new customers we shall established list use
ads in all of the media arena, live liners, cinemas ads, flyers, posters, we also intent to take
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Plan
advantage of E-blast with the local telephone companies which has all of the consumers
phone numbers and listings,

4.2 Industry Analysis

Andros the in Bahamas is one of the premier farming areas of the commonwealth of the
Bahamas. This creates an intensely competitive environment with a large number of
industry participants. Since almost all of the produce is considered to be commodities, and
large scale buyers are more consolidated than the farmers themselves, overall margins are
small and rivalries for wholesaler contracts are strong. Competitive threats come from
three main segments:

 Imported vegetables of lower quality.>

 local pound raised vegetables.

 Fruits & Vegetable producers.

Direct competition in the individual buyers market segment comes from three farms in the
immediate area including the farm, farm, and the
________________vegetable farm. Each of these competitors has produce stands as well as
selling to local farmers' markets. However, our focus on shall be
___________________________________________________________________.

4.3 Target Market Segment Strategy

The Market Analysis Pie shown below reflects the total number of potential customers for
Farmers Group. The number of Oriental markets and vegetable processors represent
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national estimates of industry participants, whereas the number of individual buyers
represents the estimated annual number of individuals that will be driving by the farm.

MARKET ANALYSIS

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Potential Growth CAGR

Customers

Vegetable 3% 5,000 5,150 5,305 5,464 5,628 3.00%

processors

Oriental 1% 25,000 25,250 25,503 25,758 26,016 1.00%

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vegetable
markets

Individual 5% 300,000 315,000 330,750 347,288 364,652 5.00%

buyers

Total 4.68% 330,000 345,400 361,558 378,510 396,296 4.68%

Strategy and Implementation Summary

The Star Farms strategy is to profitably and efficiently utilize present and future
agricultural technology in the production of fruits, vegetables and livestock’s. The company,
by acquiring an existing profitable fruits, vegetables and livestock’s farm with all the
necessary custom-innovated equipment, will gain a significant industry advantage.
Additional application and utilization of horticultural technology in the production of
strawberries will allow double utilization of the climate controlled portion of the overhead.
Star Farms hopes to consolidate considerable goodwill already created by exercising the
option of not adding another high-production facility to the present supply-demand
scenario.

The company's goals in the first year are to:

 Prepare the future site.

 Relocate and expand fruits, Green Acres vegetable system and livestock’s.

 Incorporate a three in one system for supplementary and additional revenues.

 Have the composting system in full production by early spring of the second year.
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The company's long-term plan is to phase out whichever products are least lucrative and
replace them with products that are practical and cost efficient.

5.1 Competitive Edge

Star Farms main competitive advantages are:

 Efficient production utilizing greenhouses.

 Reduced overhead by fully realizing crop output potential and economies of scale
through joint costs.

 Knowledge due to research since 1988.

5.2 Marketing Strategy

Star Farms will initially market and supply its products to target customers. The company
is further exploring marketing opportunities on the Internet, cinemas, flyers, E blast. To
this extent, in addition the company would like to set up a website to market its products.

The company will utilize aggressive advertising strategies to further market its products.
These strategies include the promotion of products through the sponsoring of spots on
cooking shows and exhibitions, and also engaging prominent chefs to help promote this
flourishing and thriving industry.

5.2.1 Pricing Strategy

The company sets its pricing based on market rates as far as fruits, vegetable and
livestock’s products are concerned.
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Star Farms pricing for strawberries will exceed the average market price for the following
reasons:

 Taste sampling at outlets will be encouraged.

 Unparalleled flavor superiority will addict greens tasters.

 Promotion of pesticide-free, fumigant-free cultural techniques of soil, environment,

ozone, and health-friendly production techniques.

5.3 Sales Strategy

At StarFarms, the sales process is primarily the same for fruits, vegetables as it is for
composting products, in that both products will be mainly sold through wholesale
marketing. As in the past, live shipments will be delivered by contract carriers in special
oxygenated tanks carrying 8,000 fruits, vegetables or more, and will be continued as
demanded. StarFarms bagged manure products will be delivered and unloaded in sizable
wholesale quantities by the pallet.

Smaller, more local orders will significantly increase the overall sales when the 300-450
live vegetables carrying tank system is put into service late.

The company's average sales cycle from first contact to closing of the sale is approximately
2 to 8 days for vegetable products. Star Farms plans to shorten this cycle. Furthermore, the
company estimates that from first contact to sale conclusion, the cycle for fresh fruits,
vegetables and livestock’s will run 2 days or less. Composted products sale cycle should run
from 2 to 8 days.

Direct sales contacts of vegetable markets by delivery personnel, as well as cold calling by
telephone of potential market outlets, will also be employed.
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5.4 Strategic Alliances

The company has strategic alliances with:

 Ministry of Agriculture and Fisheyes

 Mason Castillo – Fruits, Vegetable and livestock Specialist

 Yamilesys Castillo Pozo – Cienfuegos Farm Specialist

 - Haitian Farm Specialist

 Mobile Nursery Center

Sales Forecast
The following table and charts show our projected sales.

 
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SALES FORECAST

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Sales

Sales $575,000 $700,000 $850,000 $889,100 $927,331

Other $0 $0 $0 $0 $0

TOTAL SALES $575,000 $700,000 $850,000 $889,100 $927,331

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Direct Cost of Sales Year 1 Year 2 Year 3 Year 4 Year 5

Sales $391,000 $478,100 $578,850 $601,032 $627,803

Other $0 $0 $0 $0 $0

Subtotal Direct Cost of $391,000 $478,100 $578,850 $601,032 $627,803

Sales

Management Summary
Star Farms management team is led by Mr. Kennedy Cash, Business Manager, and the
current manager of Cienfuegos Farmers Fruits, Vegetable Farm, who has extensive
knowledge of the industry and has been tracking vegetable trends for 15 years, Mr Mason
Castillo operations and specialist in livestock’s Fruits and vegetables farm in Santiago La
Maya Cuba farms.

The company's management philosophy is based on responsibility and mutual respect. Star
Farm has an environment created freshly and structure that encourages fruitful
productivity and respect for customers and fellow employees, guaranteeing to perform the
highest standard of service.

7.1 Personnel Plan

Overall, Star Farm will have 12 personnel. The company expects to employ 5 temporary
employees during the equipment start up location phase, 4 employees on a permanent
basis, and 3 part-time employee. The Star Farms team is organized into three groups:
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Management

Management will be responsible for supervising and participating in the daily operations of
the facility. Management consists of:

 Kennedy Cash, Business Manager, Full Time

 Yamilesys Castillo Pozo, Executive Director, Full Time

 Mason castillo, Management Trainee, Full Time

 ________________, Management Trainee, 1/4 Time

Daily Maintenance

This group will consist of the following:

 _______________, Logistical Engineer, Full Time

 ________________,Heavy Equipment, Full Time

 ________________, Welder, 1/2 Time

Contract Personnel

They will be utilized initially for the moving and setting up of the Fruits and vegetable farm,
greenhouses, and the building of the manure composting facility.

PERSONNEL PLAN
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YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Business Manager $25,000 $30,000 $30,000 $30,000 $30,000

Executive Director $25,000 $30,000 $30,000 $30,000 $30,000

Manager Trainee $9,000 $6,000 $6,000 $6,000 $6,000

Manager Trainee $4,000 $6,000 $6,000 $6,000 $6,000

Logistic engineer $18,000 $18,000 $18,000 $18,000 $18,000

Heavy equipment $18,000 $18,000 $18,000 $18,000 $18,000

Welder $3,500 $3,000 $3,000 $3,000 $3,000

Contract workers $15,000 $0 $0 $0 $0

TOTAL PEOPLE 7 7 7 7 7

Total Payroll $117,500 $111,000 $111,000 $111,000 $111,000

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 Financial Plan Summary
The following topics and tables outline our financial plan.

8.1 Start-up Funding

Funding Requirements and Uses

The company is seeking to raise of $50,000 for the purpose of financing the acquisition of
the Green 10 Acres Fruits 10 Acres Vegetable Farm and !0 Acres livestock’s Farm, facilities
modifications, equipment, and funding operating expenses. Another $60,000 will be
invested in the company by seeking governmental grants. The following is a breakdown of
how the funds will be used:

Breakdown of Use of
Funds

Acquisition:

Property Grant

Equipment System $40,000

Sub-total $40,000.00

Operating Expenses:

Salaries $14,400.00

Marketing and promotion $5,000

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Other operating expenses $30,000

Sub-total $89,400

Total $89,400

START-UP FUNDING

Start-up Expenses to Fund $50,000

Start-up Assets to Fund $82,000.00

TOTAL FUNDING REQUIRED $89,400

Assets

Non-cash Assets from Start-up $82,000

Cash Requirements from Start-up $50,000

Additional Cash Raised $0

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Cash Balance on Starting Date $245,400

TOTAL ASSETS $1,145,400

Liabilities and Capital

Liabilities

Current Borrowing $400,000

Long-term Liabilities $400,000

Accounts Payable (Outstanding Bills) $30,000

Other Current Liabilities (interest-free) $0

TOTAL LIABILITIES $830,000

Capital

Planned Investment
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Investor 1 $250,000

Investor 2 $250,000

Investor 3 $250,000

Investor 4 $250,000

Other $0

Additional Investment Requirement $0

TOTAL PLANNED INVESTMENT $1,000,000

Loss at Start-up (Start-up Expenses) ($684,600)

TOTAL CAPITAL $315,400

TOTAL CAPITAL AND LIABILITIES $1,145,400

Total Funding $1,830,000

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8.2 Important Assumptions

Nature and Limitation of Projections

This financial projection is based on sales volume at the levels described in the sales
forecast section and presents, to the best of management's knowledge, the company's
expected assets, liabilities, capital, and revenues and expenses. The projections reflect
management's judgment of the expected conditions and its expected course of action given
the hypothetical assumptions.

Nature of Operations
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The company is in the business of fruits, vegetable and livestock’s farming, greens
cultivation, and composting. The company expects to be operating in 2017.

Revenues

The company's revenue is derived primarily from the sale of fruits, vegetable and
livestock’s, strawberries, and bagged composted manure products.

Expenses

The company's expenses are primarily those of salaries, utilities, and insurance costs. Other
expenses are based on management's estimates and industry averages.

GENERAL ASSUMPTIONS

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Plan Month 1 2 3 4 5

Current Interest Rate 7.00% 7.00% 7.00% 7.00% 7.00%

Long-term Interest Rate 7.00% 7.00% 7.00% 7.00% 7.00%

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Tax Rate 20.83% 20.00% 20.83% 20.00% 20.83%

Other 0 0 0 0 0

8.3 Break-even Analysis

The company's break-even analysis is given below.

BREAK-EVEN ANALYSIS
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Monthly Revenue Break-even $36,974

Assumptions:

Average Percent Variable Cost 68%

Estimated Monthly Fixed Cost $11,832

8.4 Projected Profit and Loss

As the profit and loss table shows, Star Farms expects a steady growth in profitability over
the next few years.
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PRO FORMA PROFIT AND LOSS

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YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Sales $575,000 $700,000 $850,000 $889,100 $927,331

Direct Cost of Sales $391,000 $478,100 $578,850 $601,032 $627,803

Other $10,000 $10,000 $10,000 $10,000 $10,000

TOTAL COST OF $401,000 $488,100 $588,850 $611,032 $637,803

SALES

Gross Margin $174,000 $211,900 $261,150 $278,068 $289,528

Gross Margin % 30.26% 30.27% 30.72% 31.28% 31.22%

Expenses

Payroll $117,500 $111,000 $111,000 $111,000 $111,000

Sales and Marketing $11,400 $11,100 $16,550 $15,300 $17,550

and Other Expenses

Depreciation $0 $0 $0 $0 $0
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Gas and Oil $2,040 $3,000 $3,000 $3,000 $3,000

Utilities $6,000 $6,000 $6,000 $6,000 $6,000

Insurance $5,040 $5,500 $5,500 $5,500 $5,500

Payroll Taxes $0 $0 $0 $0 $0

Other $0 $0 $0 $0 $0

Total Operating $141,980 $136,600 $142,050 $140,800 $143,050

Expenses

Profit Before Interest $32,020 $75,300 $119,100 $137,268 $146,478

and Taxes

EBITDA $32,020 $75,300 $119,100 $137,268 $146,478

Interest Expense $54,664 $47,845 $39,095 $32,095 $26,495

Taxes Incurred $0 $5,491 $16,668 $21,035 $24,996

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Net Profit ($22,644) $21,964 $63,337 $84,139 $94,987

Net Profit/Sales -3.94% 3.14% 7.45% 9.46% 10.24%

8.5 Projected Cash Flow

The chart and table below contain the cash flow assumptions and projections for Farmers
Group during the first five years of plan implementation. Year 1 monthlies are presented in
the appendix.

PRO FORMA CASH FLOW

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YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Cash Received

Cash from Operations

Cash Sales $143,750 $175,000 $212,500 $222,275 $231,833

Cash from Receivables $431,250 $525,000 $637,500 $666,825 $695,498

SUBTOTAL CASH $575,000 $700,000 $850,000 $889,100 $927,331

FROM OPERATIONS

Additional Cash
Received

Sales Tax, VAT, $0 $0 $0 $0 $0

HST/GST Received

New Current $0 $0 $0 $0 $0
Borrowing
Agriculture Fruit Farm Business
Plan
New Other Liabilities $0 $0 $0 $0 $0
(interest-free)

New Long-term $0 $0 $0 $0 $0
Liabilities

Sales of Other Current $0 $0 $0 $0 $0

Assets

Sales of Long-term $0 $0 $0 $0 $0
Assets

New Investment $0 $0 $97,000 $0 $0

Received

SUBTOTAL CASH $575,000 $700,000 $947,000 $889,100 $927,331

RECEIVED

Expenditures Year 1 Year 2 Year 3 Year 4 Year 5

Expenditures from
Operations

Cash Spending $117,500 $111,000 $111,000 $111,000 $111,000

Agriculture Fruit Farm Business
Plan
Bill Payments $408,920 $498,803 $668,927 $694,140 $720,435

SUBTOTAL SPENT $526,420 $609,803 $779,927 $805,140 $831,435

ON OPERATIONS

Additional Cash Spent

Sales Tax, VAT, $0 $0 $0 $0 $0

HST/GST Paid Out

Principal Repayment $54,000 $100,000 $100,000 $25,000 $35,000

of Current Borrowing

Other Liabilities $0 $0 $0 $0 $0
Principal Repayment

Long-term Liabilities $0 $25,000 $25,000 $50,000 $50,000

Principal Repayment

Purchase Other $0 $0 $0 $0 $20,000

Current Assets

Purchase Long-term $0 $0 $0 $0 $0
Assets
Agriculture Fruit Farm Business
Plan
Dividends $0 $25,000 $20,000 $10,000 $10,000

SUBTOTAL CASH $580,420 $759,803 $924,927 $890,140 $946,435

SPENT

Net Cash Flow ($5,420) ($59,803) $22,073 ($1,040) ($19,104)

Cash Balance $239,980 $180,177 $202,250 $201,210 $182,106

8.6 Projected Balance Sheet

PRO FORMA BALANCE SHEET

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Assets

Current Assets

Cash $239,980 $180,177 $202,250 $201,210 $182,106

Agriculture Fruit Farm Business
Plan
Accounts $0 $0 $0 $0 $0
Receivable

Inventory $55,760 $24,586 $29,767 $31,136 $32,475

Other Current $250,000 $250,000 $250,000 $250,000 $270,000

Assets

TOTAL $545,740 $454,763 $482,017 $482,346 $484,581

CURRENT
ASSETS

Long-term
Assets

Long-term $500,000 $500,000 $500,000 $500,000 $500,000

Assets

Accumulated $0 $0 $0 $0 $0
Depreciation

TOTAL LONG- $500,000 $500,000 $500,000 $500,000 $500,000

TERM ASSETS

TOTAL ASSETS $1,045,740 $954,763 $982,017 $982,346 $984,581

Agriculture Fruit Farm Business
Plan
Liabilities and Year 1 Year 2 Year 3 Year 4 Year 5
Capital

Current
Liabilities

Accounts $6,984 $44,043 $55,960 $57,150 $59,399

Payable

Current $346,000 $246,000 $146,000 $121,000 $86,000

Borrowing

Other Current $0 $0 $0 $0 $0
Liabilities

SUBTOTAL $352,984 $290,043 $201,960 $178,150 $145,399

CURRENT
LIABILITIES

Long-term $400,000 $375,000 $350,000 $300,000 $250,000

Liabilities

TOTAL $752,984 $665,043 $551,960 $478,150 $395,399

LIABILITIES

Paid-in Capital $1,000,000 $1,000,000 $1,097,000 $1,097,000 $1,097,000

Agriculture Fruit Farm Business
Plan

Retained ($684,600) ($732,244) ($730,280) ($676,943) ($602,804)

Earnings

Earnings ($22,644) $21,964 $63,337 $84,139 $94,987

TOTAL $292,756 $289,720 $430,057 $504,196 $589,182

CAPITAL

TOTAL $1,045,740 $954,763 $982,017 $982,346 $984,581

LIABILITIES
AND CAPITAL

Net Worth $292,756 $289,720 $430,057 $504,196 $589,182

8.7 Business Ratios

The business ratios given below are contrasted to industry standards within the Bahamas
and. Within the category of fruits, vegetables and livestock’s functioning in close proximity
to one another, research has shown that there can be significant distinction , diversity from
industry standards due to farm size, product life cycle, and capital resources.

Star Farms is a start-up venture, and therefore has a more heavy debt to impartiality ratio
than most existing farms. Furthermore, due to its move into a niche market, the company is
expected to spend a bit more on advertising than its competitors. The first two years of
Agriculture Fruit Farm Business
Plan
operations are expected also to have a higher growth rate than average as it gains market
share set for the future of Star Farms.

RATIO ANALYSIS

YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 INDUSTRY

PROFILE

Sales Growth 15.74% 21.74% 21.43% 4.60% 4.30% -4.60%

Percent of
Total Assets

Accounts 0.00% 0.00% 0.00% 0.00% 0.00% 12.90%

Receivable

Inventory 5.33% 2.58% 3.03% 3.17% 3.30% 14.40%

Other Current 23.91% 26.18% 25.46% 25.45% 27.42% 28.90%

Assets

Total Current 52.19% 47.63% 49.08% 49.10% 49.22% 56.20%

Assets
Agriculture Fruit Farm Business
Plan
Long-term 47.81% 52.37% 50.92% 50.90% 50.78% 43.80%
Assets

TOTAL 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

ASSETS

Current 33.75% 30.38% 20.57% 18.14% 14.77% 31.10%

Liabilities

Long-term 38.25% 39.28% 35.64% 30.54% 25.39% 20.50%

Liabilities

Total 72.00% 69.66% 56.21% 48.67% 40.16% 51.60%

Liabilities

NET WORTH 28.00% 30.34% 43.79% 51.33% 59.84% 48.40%

Percent of
Sales

Sales 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Gross Margin 30.26% 30.27% 30.72% 31.28% 31.22% 32.00%

Agriculture Fruit Farm Business
Plan
Selling, 37.26% 29.04% 24.76% 23.31% 22.31% 20.70%
General &
Administrative
Expenses

Advertising 0.83% 0.71% 1.23% 1.20% 1.23% 0.20%

Expenses

Profit Before 5.57% 10.76% 14.01% 15.44% 15.80% 1.70%

Interest and
Taxes

Main Ratios

Current 1.55 1.57 2.39 2.71 3.33 1.65

Quick 1.39 1.48 2.24 2.53 3.11 0.88

Total Debt to 72.00% 69.66% 56.21% 48.67% 40.16% 51.60%

Total Assets

Pre-tax Return -7.73% 9.48% 18.60% 20.86% 20.36% 2.20%

on Net Worth
Agriculture Fruit Farm Business
Plan
Pre-tax Return -2.17% 2.88% 8.15% 10.71% 12.19% 4.50%
on Assets

Additional Year 1 Year 2 Year 3 Year 4 Year 5

Ratios

Net Profit -3.94% 3.14% 7.45% 9.46% 10.24% n.a

Margin

Return on -7.73% 7.58% 14.73% 16.69% 16.12% n.a

Equity

Activity Ratios

Accounts 0.00 0.00 0.00 0.00 0.00 n.a

Receivable
Turnover

Collection 60 0 0 0 0 n.a
Days

Inventory 3.93 11.90 21.30 19.74 19.74 n.a

Turnover

Accounts 55.25 12.17 12.17 12.17 12.17 n.a

Payable
Agriculture Fruit Farm Business
Plan
Turnover

Payment Days 29 17 27 30 29 n.a

Total Asset 0.55 0.73 0.87 0.91 0.94 n.a

Turnover

Debt Ratios

Debt to Net 2.57 2.30 1.28 0.95 0.67 n.a

Worth

Current Liab. 0.47 0.44 0.37 0.37 0.37 n.a

to Liab.

Liquidity
Ratios

Net Working $192,756 $164,720 $280,057 $304,196 $339,182 n.a

Capital

Interest 0.59 1.57 3.05 4.28 5.53 n.a

Coverage
Agriculture Fruit Farm Business
Plan
Additional
Ratios

Assets to Sales 1.82 1.36 1.16 1.10 1.06 n.a

Current 34% 30% 21% 18% 15% n.a

Debt/Total
Assets

Acid Test 1.39 1.48 2.24 2.53 3.11 n.a

Sales/Net 1.96 2.42 1.98 1.76 1.57 n.a

Worth

Dividend 0.00 1.14 0.32 0.12 0.11 n.a

Payout

Appendix

SALES FORECAST

MON MON MON MON MON MON MONT MONT MONT MON MON MON
TH 1 TH 2 TH 3 TH 4 TH 5 TH 6 H7 H8 H9 TH TH TH
10 11 12
Agriculture Fruit Farm Business
Plan
Sales

Sales 0 $0 $0 $10,0 $25,0 $40,0 $55,0 $100,0 $175,0 $120,0 $50,0 $0 $0

% 00 00 00 00 00 00 00 00

Other 0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
%

TOT $0 $0 $10,0 $25,0 $40,0 $55,0 $100, $175, $120, $50,0 $0 $0

AL 00 00 00 00 000 000 000 00
SALE
S

Direc Mont Mont Mont Mont Mont Mont Month Month Month Mont Mont Mont
t Cost h1 h2 h3 h4 h5 h6 7 8 9 h 10 h 11 h 12
of
Sales

Sales $0 $0 $6,80 $17,0 $27,2 $37,4 $68,00 $119,0 $81,60 $34,0 $0 $0

0 00 00 00 0 00 0 00

Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subt $0 $0 $6,80 $17,0 $27,2 $37,4 $68,00 $119,0 $81,60 $34,0 $0 $0

otal 0 00 00 00 0 00 0 00
Direc
t Cost
of
Sales

GENERAL ASSUMPTIONS
Agriculture Fruit Farm Business
Plan

MON MON MON MON MON MON MON MON MON MON MON MON
TH 1 TH 2 TH 3 TH 4 TH 5 TH 6 TH 7 TH 8 TH 9 TH TH TH
10 11 12

Plan 1 2 3 4 5 6 7 8 9 10 11 12
Mont
h

Curre 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00
nt % % % % % % % % % % % %
Inter
est
Rate

Long- 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00
term % % % % % % % % % % % %
Inter
est
Rate

Tax 30.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00 20.00
Rate % % % % % % % % % % % %

Other 0 0 0 0 0 0 0 0 0 0 0 0

PRO FORMA CASH FLOW

MON MON MON MON MON MON MON MON MON MON MON MON
TH 1 TH 2 TH 3 TH 4 TH 5 TH 6 TH 7 TH 8 TH 9 TH 10 TH TH
11 12
Agriculture Fruit Farm Business
Plan
Cash
Received

Cash
from
Operatio
ns

Cash $0 $0 $2,50 $6,25 $10,0 $13,7 $25,0 $43,7 $30,0 $12,5 $0 $0

Sales 0 0 00 50 00 50 00 00

Cash $0 $0 $0 $250 $7,87 $19,1 $30,3 $42,3 $76,8 $129, $88,2 $36,2
from 5 25 75 75 75 875 50 50
Receivab
les

SUBTOT $0 $0 $2,50 $6,50 $17,8 $32,8 $55,3 $86,1 $106, $142, $88,2 $36,2
AL CASH 0 0 75 75 75 25 875 375 50 50
FROM
OPERAT
IONS

Addition
al Cash
Received

Sales 0.0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Tax, VAT, 0%
HST/GST
Received

New $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Current
Borrowi
ng
Agriculture Fruit Farm Business
Plan
New $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other
Liabilitie
s
(interest
-free)

New $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-
term
Liabilitie
s

Sales of $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other
Current
Assets

Sales of $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-
term
Assets

New $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Investme
nt
Received

SUBTOT $0 $0 $2,50 $6,50 $17,8 $32,8 $55,3 $86,1 $106, $142, $88,2 $36,2
AL CASH 0 0 75 75 75 25 875 375 50 50
RECEIVE
D

Expendit Mont Mont Mont Mont Mont Mont Mont Month Month Month Mont Mont
ures h1 h2 h3 h4 h5 h6 h7 8 9 10 h 11 h 12

Expendit
Agriculture Fruit Farm Business
Plan
ures
from
Operatio
ns

Cash $11,5 $11,5 $11,0 $7,50 $7,00 $9,50 $9,00 $9,50 $10,0 $10,5 $10,0 $10,5
Spending 00 00 00 0 0 0 0 0 00 00 00 00

Bill $30,2 $7,50 $7,50 $7,57 $7,57 $7,50 $10,1 $91,7 $178, $46,5 $7,39 $7,22
Payment 50 7 9 3 1 8 29 30 012 11 4 5
s

SUBTOT $41,7 $19,0 $18,5 $15,0 $14,5 $17,0 $19,1 $101, $188, $57,0 $17,3 $17,7
AL 50 07 09 73 71 08 29 230 012 11 94 25
SPENT
ON
OPERAT
IONS

Addition
al Cash
Spent

Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Tax, VAT,
HST/GST
Paid Out

Principal $0 $0 $0 $0 $5,00 $15,0 $4,00 $0 $0 $0 $30,0 $0

Repayme 0 00 0 00
nt of
Current
Borrowi
ng

Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Liabilitie
Agriculture Fruit Farm Business
Plan
s
Principal
Repayme
nt

Long- $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
term
Liabilitie
s
Principal
Repayme
nt

Purchase $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other
Current
Assets

Purchase $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-
term
Assets

Dividend $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
s

SUBTOT $41,7 $19,0 $18,5 $15,0 $19,5 $32,0 $23,1 $101, $188, $57,0 $47,3 $17,7
AL CASH 50 07 09 73 71 08 29 230 012 11 94 25
SPENT

Net Cash ($41,7 ($19,0 ($16,0 ($8,5 ($1,6 $867 $32,2 ($15,1 ($81,1 $85,3 $40,8 $18,5
Flow 50) 07) 09) 73) 96) 46 05) 37) 64 56 25

Cash $203, $184, $168, $160, $158, $159, $191, $176, $95,2 $180, $221, $239,
Balance 650 643 634 061 365 232 478 373 36 599 455 980
 Agriculture Fruit Farm Business
Plan
PRO FORMA BALANCE SHEET

MONT MONT MONT MONT MONT MONT MONT MONT MONT MONT MONT MONT
H 1 H 2 H 3 H 4 H 5 H 6 H 7 H 8 H 9 H 10 H 11 H 12

Assets Startin
g
Balanc
es

Curren
t
Assets

Cash $245,4 $203,6 $184,6 $168,6 $160,0 $158,3 $159,2 $191,4 $176,3 $95,23 $180,5 $221,4 $239,9
00 50 43 34 61 65 32 78 73 6 99 55 80

Accoun $0 $0 $0$7,500$26,00 $48,12 $70,25 $114,8 $203,7 $216,8 $124,5 $36,25 $0

ts 0 5 0 75 50 75 00 0
Receiv
able

Invent $150,0 $150,0 $150,0 $143,2 $126,2 $99,00 $61,60 $74,80 $130,9 $89,76 $55,76 $55,76 $55,76
ory 00 00 00 00 00 0 0 0 00 0 0 0 0

Other $250,0 $250,0 $250,0 $250,0 $250,0 $250,0 $250,0 $250,0 $250,0 $250,0 $250,0 $250,0 $250,0
Curren 00 00 00 00 00 00 00 00 00 00 00 00 00
t
Assets

TOTAL $645, $603, $584, $569, $562, $555, $541, $631, $761, $651, $610, $563, $545,
CURRE 400 650 643 334 261 490 082 153 023 871 859 465 740
NT
ASSET
S

Long-
term
 Agriculture Fruit Farm Business
Plan
Assets

Long- $500,0 $500,0 $500,0 $500,0 $500,0 $500,0 $500,0 $500,0 $500,0 $500,0 $500,0 $500,0 $500,0
term 00 00 00 00 00 00 00 00 00 00 00 00 00
Assets

Accum $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
ulated
Deprec
iation

TOTAL $500, $500, $500, $500, $500, $500, $500, $500, $500, $500, $500, $500, $500,
LONG- 000 000 000 000 000 000 000 000 000 000 000 000 000
TERM
ASSET
S

TOTAL $1,14 $1,10 $1,08 $1,06 $1,06 $1,05 $1,04 $1,13 $1,26 $1,15 $1,11 $1,06 $1,04
ASSET 5,400 3,650 4,643 9,334 2,261 5,490 1,082 1,153 1,023 1,871 0,859 3,465 5,740
S

Liabilit Month Month Month Month Month Month Month Month Month Month Month Month
ies and 1 2 3 4 5 6 7 8 9 10 11 12
Capital

Curren
t
Liabilit
ies

Accoun $30,00 $7,256$7,256$7,321$7,321$7,260$7,176$85,64 $176,4 $46,26 $7,153$6,984$6,984

ts 0 7 17 5
Payabl
e
 Agriculture Fruit Farm Business
Plan
Curren $400,0 $400,0 $400,0 $400,0 $400,0 $395,0 $380,0 $376,0 $376,0 $376,0 $376,0 $346,0 $346,0
t 00 00 00 00 00 00 00 00 00 00 00 00 00
Borro
wing

Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Curren
t
Liabilit
ies

SUBTO $430, $407, $407, $407, $407, $402, $387, $461, $552, $422, $383, $352, $352,
TAL 000 256 256 321 321 260 176 647 417 265 153 984 984
CURRE
NT
LIABIL
ITIES

Long- $400,0 $400,0 $400,0 $400,0 $400,0 $400,0 $400,0 $400,0 $400,0 $400,0 $400,0 $400,0 $400,0
term 00 00 00 00 00 00 00 00 00 00 00 00 00
Liabilit
ies

TOTAL $830, $807, $807, $807, $807, $802, $787, $861, $952, $822, $783, $752, $752,
LIABIL 000 256 256 321 321 260 176 647 417 265 153 984 984
ITIES

Paid-in $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Capital ,000 ,000 ,000 ,000 ,000 ,000 ,000 ,000 ,000 ,000 ,000 ,000 ,000

Retain ($684, ($684, ($684, ($684, ($684, ($684, ($684, ($684, ($684, ($684, ($684, ($684, ($684,
ed 600) 600) 600) 600) 600) 600) 600) 600) 600) 600) 600) 600) 600)
Earnin
gs

Earnin $0 ($19,0 ($38,0 ($53,3 ($60,4 ($62,1 ($61,4 ($45,8 ($6,79 $14,20 $12,30 ($4,91 ($22,6
gs 07) 13) 87) 60) 71) 94) 94) 4) 6 6 9) 44)

TOTAL $315, $296, $277, $262, $254, $253, $253, $269, $308, $329, $327, $310, $292,
 Agriculture Fruit Farm Business
Plan
CAPIT 400 393 387 013 940 229 906 506 606 606 706 481 756
AL

TOTAL $1,14 $1,10 $1,08 $1,06 $1,06 $1,05 $1,04 $1,13 $1,26 $1,15 $1,11 $1,06 $1,04
LIABIL 5,400 3,650 4,643 9,334 2,261 5,490 1,082 1,153 1,023 1,871 0,859 3,465 5,740
ITIES
AND
CAPIT
AL

Net $315,4 $296,3 $277,3 $262,0 $254,9 $253,2 $253,9 $269,5 $308,6 $329,6 $327,7 $310,4 $292,7
Worth 00 93 87 13 40 29 06 06 06 06 06 81 56

PRO FORMA PROFIT AND LOSS

MONTH MONTH MONTH MONTH MONTH MONTH MONTH MONTH MONT

1 2 3 4 5 6 7 8

Sales $0 $0 $10,000 $25,000 $40,000 $55,000 $100,000 $175,000 $120,00

Direct Cost $0 $0 $6,800 $17,000 $27,200 $37,400 $68,000 $119,000 $81,60

of Sales

Other $800 $800 $867 $867 $833 $833 $833 $833 $83

TOTAL $800 $800 $7,667 $17,867 $28,033 $38,23 $68,833 $119,83 $82,43
COST OF 3 3
SALES

Gross ($800) ($800) $2,333 $7,133 $11,967 $16,767 $31,167 $55,167 $37,56
Margin
Agriculture Fruit Farm Business
Plan
Gross 0.00% 0.00% 23.33% 28.53% 29.92% 30.48% 31.17% 31.52% 31.31
Margin %

Expenses

Payroll $11,500 $11,500 $11,000 $7,500 $7,000 $9,500 $9,000 $9,500 $10,00

Sales and $950 $950 $950 $950 $950 $950 $950 $950 $95
Marketing
and Other
Expenses

Depreciatio $0 $0 $0 $0 $0 $0 $0 $0 $
n

Gas and Oil $170 $170 $170 $170 $170 $170 $170 $170 $17

Utilities $500 $500 $500 $500 $500 $500 $500 $500 $50

Insurance $420 $420 $420 $420 $420 $420 $420 $420 $42

Payroll 15% $0 $0 $0 $0 $0 $0 $0 $0 $
Taxes

Other $0 $0 $0 $0 $0 $0 $0 $0 $

Total $13,540 $13,540 $13,040 $9,540 $9,040 $11,540 $11,040 $11,540 $12,04
Operating
Expenses

Profit Before ($14,340) ($14,340) ($10,707) ($2,407) $2,927 $5,227 $20,127 $43,627 $25,52
Interest and
Taxes
Agriculture Fruit Farm Business
Plan
EBITDA ($14,340) ($14,340) ($10,707) ($2,407) $2,927 $5,227 $20,127 $43,627 $25,52

Interest $4,667 $4,667 $4,667 $4,667 $4,638 $4,550 $4,527 $4,527 $4,52
Expense

Taxes $0 $0 $0 $0 $0 $0 $0 $0 $
Incurred

Net Profit ($19,007) ($19,007) ($15,373) ($7,073) ($1,711) $677 $15,600 $39,100 $21,00

Net 0.00% 0.00% -153.73% -28.29% -4.28% 1.23% 15.60% 22.34% 17.50
Profit/Sales

PERSONNEL PLAN

MONTH MONTH MONT MONTH MONTH MONT MONTH MONTH MONTH M

1 2 H3 4 5 H6 7 8 9 H

Business 0% $1,500 $1,500 $1,500 $1,500 $1,500 $2,500 $2,500 $2,500 $2,500 $2
Manager

Executive 0% $1,500 $1,500 $1,500 $1,500 $1,500 $2,500 $2,500 $2,500 $2,500 $2
Director

Manager 0% $0 $0 $0 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1

Trainee

Manager 0% $0 $0 $0 $0 $0 $0 $0 $0 $1,000 $1
Trainee

Logistic 0% $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1
engineer
Agriculture Fruit Farm Business
Plan
Heavy 0% $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1
equipmen
t

Welder 0% $500 $500 $0 $500 $0 $500 $0 $500 $0 $

Contract 0% $5,000 $5,000 $5,000 $0 $0 $0 $0 $0 $0

workers

TOTAL 12 12 12 7 7 7 7 7 7
PEOPLE

Total $11,500 $11,500 $11,000 $7,500 $7,000 $9,500 $9,000 $9,500 $10,000 $10
Payroll

Farmers win quality support in Andros

By Gladstone Thurston
Dec 13, 2011 - 12:28:31 PM

Nicholl’s Town, ANDROS, Bahamas - Farmers in North Andros have won support from
wholesalers, hoteliers, restaurateurs, chefs and the Ministry of Tourism following a
weekend convention.

Hosted by Bahamas Agricultural and Industrial Corporation (BAIC), it marked the second
time buyers, mainly from New Providence, and farmers met to discuss the way forward in
food production.

“We are serious about food production, as all Bahamians ought to be,” said BAIC executive
chairman Edison M. Key. “It is the country’s first line of defense.”

DeAnne Gibson, manager, Culinary Tourism, Ministry of Tourism; Michael Adderley,

Bahamas Culinary Association; Patrick Treco, Continental Food; Don Carnine, Bahamas
Food Services; Don Smith, Super Value Food Stores; Henny Tynes, Da Market Place; Philip
Agriculture Fruit Farm Business
Plan
Beneby, Courtesy Supermarket; Rosemary Sinclair, chef, Atlantis Resort; Leona Johnson,
purchasing manager, Atlantis; Steven Quigg, Wyndham Nassau Resort; and Edwin Johnson,
Bamboo Shack Group were among those participating in this year’s event.

Farms, many of which utilise drip fertigation, were arrayed in early tomatoes, egg plants,
zucchinis, cabbages, sweet peppers, sweet potatoes, yams and peas.

Delegates toured the North Andros Agri-industrial park where greenhouse technology is
being taught; the government’s packing house; docks; and the BAIC livestock operation.

It is estimated that $500 million worth of food products are imported into the country each
year.

“It was a great experience,” said Ms Gibson, manager Culinary Tourism. “We join forces
with BAIC and all associated entities to increase the demand for Bahamian produce and
fuel the economy with local funds rather than importing so many items.”