Assignment -1

Faizan Kamal (SP17-BSE-003)

Zeeshan Bashir (SP17-BSE-069)

Question-1

Are you interested in launching a new business? If so, when? What kind of business? Describe
it. What can you do to ensure it success?

Answer
There are no limits on who can become a great entrepreneur. You don't necessarily need a college degree,
a bunch of money in the bank or even business experience to start something that could become the next
major success. However, you do need a strong plan and the drive to see it through.
Concept of owning a business or in other being entrepreneur thrills me and excites me the most. Starting a
business can be scary. But great rewards await entrepreneurs lucky enough to create successful small
businesses -- benefits you may miss out on if you remain a wage earner for the rest of your life.
Independence and flexibility, Personal fulfillment, Power and Money are some of the rewards of
going out on your own.

When to start a business?

Running a company can be an amazing adventure, and it can even give you more security than a regular
day job. Being your own boss may sound like heaven on earth, but what you have to remember is that it’s
still a lot of hard work.

I am considering to start small side business after graduation. Small side business is the need to of today’s
era. Everyone should consider it.

What kind of business?

Poultry is one the most important sector of agriculture industry in Pakistan by providing employment to
1.5 million people. Broiler meat is the cheapest source of animal protein available in Pakistan by
contributing 4.81% in agriculture growth and 9.84% in livestock growth. According to Industry sources
there is capacity of 5,000 Environmental Control Houses in Pakistan and currently 2,500 houses are
working, out of which 75% (1,875) are in Punjab and remaining 25% (625) are in other provinces. In
environmentally Controlled Poultry Farm the day-old chicks (DOCs) are raised on rich protein feed for
about a period of six weeks. Approximately, six flocks of birds could be reared on the same premises of
the farm.
Setting up a poultry farm requires a lot of money, as poultry farming requires an expanse of land a hectare
or more wide. You would also have to procure a large herd of chickens that are more than hundreds in
number in order to generate the proper returns in income. Fortunately, you can avail yourself of loans that
are offered to those that are starting or even those that are already in the business.
Set your farm up for success by creating a business plan. Business plan should include:

 Farm expenses: This is the cost of your equipment, the cost of your feed, the cost of your
chicken coop(s), and the cost of your chickens. You should also consider the cost of the insurance
premiums for the farm and if you need to pay for labor in the form of workers or employees to
help you maintain the farm.
 Farm income: This should be made up of profit goals, where you have a certain amount of profit
you will need to hit on a month to month basis. It’s important to have profit goals so you can
sustain a certain income from the farm and ensure you turn a profit.
 Financing: To get the farm off the ground, you will need some form of financing or capital. This
could be in the form of a savings account, borrowing money from a business partner or family,
and/or grants or loans from government agencies. You may also have cash-flow through another
source of income, like a part time job or another farming endeavor, that can be used to pay for
expenses and keep your farm running.
 Disaster plan: As any farmer knows, the weather or a bad season can lead to low profits. You
should have a disaster plan in place in the event of an emergency to ensure you can survive a bad
year or a bad turn of events. Outline changes you can make to your farm to help you save money
and stay in business in the event of a disaster. You may also want to have a succession plan in
place, such as a will, in the event of a fatal incident.

How to make it successful:

If I would like to get a better sense of the work environment and the expectations in the farmer role, I may
want to spend some time working with a farming organization like WWOOF (World Wide Opportunities
on Organic Farms). Following are the few ways to make it successful.

 These positions often cover your room and board on the farm in exchange for working on the
farm. You can also get hands on experience in the life of farming for a longer period of time,
which will better prepare you to start your own farm.
 While starting a chicken farm, you have to name it properly. You may find lots of farm name
ideas. However, pick the one that suits your type of farm the best. Get a web page design for your
farm right after you are done choosing the name.
 You should think of setting your poultry farm at the most appropriate location. It is important that
the location has all the necessary facilities. Try to build your poultry farm a little away from the
town so that you can have the land and labor at a cheaper cost.\
 You meet many people on daily basis. Tell them about your plans to start your own poultry
business. Start from talking to your friends and neighbors. Visit events related to poultry farming
and try to make friends with as many people as you can. You may meet some of your potential
clients. Make all of them aware of your farming plans and take their advice.
 Many aspects of poultry farming are such that they should be handled only by experienced people
who know the nuances very well. So, hire only professionals who have many years of experience
in the farming. But farming is not labor intensive, if you can involve technology.
 When starting your poultry business, one of the significant things to keep in mind is the aspect of
marketing. Without having a marketing plan, it is hard to achieve your business goals. To market
your products, make sure that you have properly analysed the demand and supply situation for
your products in your niche market. Know your target consumer also to pinpoint consumer
profile.