Business plans for lobster men should cut right to the chase: you make your living pulling lobster out of the ocean, selling them in bulk to wholesalers or to local restaurants, and all the while surviving the dangers of the sea. Fishermen who run their own businesses – whether they bring in high-end fish like lobster, or more basic white fish like cod – rely on calm weather, high margins, and a good working relationship with off-takers. The business plan for lobster men, therefore, should show that you have a solid base of experience, a decent market opportunity going forward, and a tidy profit margin in your sights for at least the next three years. An SBA plan for a lobster fishing operation should show:
• The area in which you fish for the lobster
• The types of lobster you can get and their going market rates
• The historical values of your catches
• A list of your current clients/off-takers, if applicable
• A basic marketing strategy for finding new off-takers
The business plan doesn't necessarily need a complete marketing strategy section the way a start-up tech company would, but you should show the banker that you have a good idea of how to find new takers if needed. If you sell directly to restaurants on a pier, how many are there, is there room for more development, and what is consumer spending doing in the city? If you're a supplier for a wholesaling agency, what would you do if you needed to find a new off-taker? Combine this information with a basic market analysis and a set of projections showing that you can make money each of the next three years and you'll have a funding-ready plan. MasterPlans has worked on 10,000 business plans since 2002 and we have a wide range of experience writing for fishermen, commercial fishing operations, and wholesalers of seafood. Call us today to learn more: 877-453-2011.
