Our business will deal with processing and exporting of various fish types, while maintaining high standards of hygiene at all stages of the process.
Keeping in view the above facts, we intend to provide a healthy product by using technology that assures relatively higher standards of hygiene as against other processing and exporting businesses in Maldives. The goal of our business is to export hygienically processed fish of “AA and A Grade”, which comply with international standards. By adopting hygienic and cleaner methods of fish processing and storing, we can exploit the huge opportunity that exists in the fisheries sector.
MISSION: To be one of the leaders in hygienically processing and exporting fish business in Maldives.
The processed fish will be exported to several countries including European Union countries, Japan, USA, China, Saudi Arabia, UAE, Malaysia, South Korea, Hong Kong, Sri Lanka and Singapore. More than 75% of the product will go to EU countries, Japan and USA, since they are main importers of fish products, while the rest will be exported to other countries.
PRODUCTION PLAN: A number of steps take place from catching the fish at the harbor to exporting it to international markets. However, we only deal with processing raw fish and exporting the final product of the plant. The catch will be bought from fishermen.
For consistent availability of fish, a contract system with the local fishermen will be maintained. The personnel required in the plant will be hired locally as well. They will comprise of skilled as well as semiskilled workers. Skilled workers will be needed for operating equipment whereas, other non-technical activities will be handled by semiskilled workers.
The catch acquired will be brought to the processing plant. The location will provide an added advantage of being near to the raw material
PRODUCTS: We aim to begin by processing and exporting mainly the following types of fish:
o Tuna Fish
o Soul fish
o Reef Fish
o Sea shrimps
OPERATION PLAN: I have decided to set up our office near the processing plant with a quality control department and Research and Development. Quality control department will check the quality of fresh fish after washing in the storage area and before forwarding it for further processing. The fishery products are checked for any harmful or toxic products. After the processing of one batch of products is completed, a sample would be again tested for quality and standards in the quality control department. The people in the quality control will be from the relevant field with relevant amount of experience.
There will be separate Research and Development department for latest information about processes and technology available for the betterment of the business.
The day to day operations would be maintained from the office near the plant and for continuous availability of raw material a contract system with local fishermen will be maintained. All the production and operations of the company would be controlled by the owners. However the procurement of raw materials will be on contractual basis only.
Furthermore, we intend to operate our plant almost throughout the year. But we will make sure that the plant is ready during the peak seasons of fish catch.
Washing, cutting and packaging would be the major operations that will be carried out in our plant.
The shipping of the finished products would be done on the basis of number of orders.
Since the number of firms is very limited in the industry, the entire industry works on more or less the same strategy. Our company shall follow a cost-driven strategy. To maintain our exports, we shall always kept our prices low as compared to our competitors. Our export share in the world market is not likely to decrease over the next two years. The industry we shall operate in is a tax free industry. This step was taken by the government long ago to encourage private processing plant owners to improve the quality of their catch and exports.
There has been lack of diversification and failure to introduce new and latest techniques of fish processing over the last two decades. Firms like Blue fin, Enzy have worked one for value addition. Now they not only process and package the fish but have also diversified like they have introduced products like fish kebabs. This does not only meet the need of local consumers but they have also export these products.
Funding is needed to buy the machinery. Below are the list
Flake Ice Machine, Capacity (25 T / 24 Hours) 2
Storage Bin, Capacity (12 Tons) 2
Blast Freezers , Capacity (2T / 8 Hours) -30 C 4
Cold Store , Capacity ( 250 T , 50x 50x 15) -30 C 4
Central Air conditioning System (Processing Hall) 1
Tables and Racks 4
I am looking for an active investor.
For the equity investor, i am willing to give 60-70% of shares.
The equity investor has to agree to change the company as foreign investment or has to agree to register the company as a partnership.
For the debt investor has to give 60,000 usd as a loan. and for that i am willing to give 30% of shares. The pay back period will be 3 years with yearly 8% interest.