A charter fishing business plan that seeks bank funding should be engineered to show that your charter company can generate strong revenues over a period of three consecutive years. The plan should show a break-even point within the first 12-18 months and demonstrate a convincing ability to repay the loan you seek on schedule and in full. If you're soliciting investors, a five-year pro forma model will be required, along with a proposition statement that makes clear what share you'll offer in exchange for the seed capital. Charter fishing is a risky and high-stakes business, but the potential for solid, ongoing returns is always there. To capitalize on this, show all of these:
• What sort of fish are you going to bring in?
• What is an average haul by volume and by value?
• What trends in the industry should be disclosed?
• Do you have historical figures to share?
• Who are your main competitors, direct and indirect?
• How many people do you need manning the ship(s)?
If your charter operation is already underway, you should create a past performance table and graph to show readers where you've come from. This typically includes the aggregation of three years of profit and loss statements and balance sheets. This is especially important if your projections are based more on extrapolation from past performance data than on assumptions based on industry figures alone. The plan should additionally provide a sense that you know how to connect with off-takers (marketing/implementation) and can negotiate the changing market conditions (i.e., what are the historical highs and lows paid out for your type of fish over the past 5 years?). MasterPlans has worked extensively on fishing industry business plans and our team of expert researchers and writers can prepare the business plan on your behalf. Call a consultant today to learn more about this process: (877) 453-2011.
