Drafting the alternative enterprise plan for your property, committing to the budding business...
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Drafting the alternative enterprise plan for your property, committing to the budding business Learning Module #6 March 21 th 2012 Presenter: Mr. Adam Tullos Mississippi State University Dept. of Wildlife Fisheries & Aquaculture
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Transcript of Drafting the alternative enterprise plan for your property, committing to the budding business...
Drafting the alternative enterprise plan for your property, committing to the budding business
Learning Module #6
March 21th 2012
Presenter: Mr. Adam Tullos
Mississippi State UniversityDept. of Wildlife Fisheries & Aquaculture
Welcome
Please notice the Email and Phone number box below. Enter your Name and contact information
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Outline
Delineating Resource ValueCreating an Enterprise Activity PlanUnderstanding Quality vs. QuantitiyCalculating Total RevenueCosts of OperationTotal IncomeTaking the last step
Determining Resource Value
What works here?Natural resource inventoryCompatibility Sustainability Historical uses
Listing Resources
LodgeBarn & Storage areasHardwood TimberFlooded MarshlandExtensive Field Roads1 Mile of River FrontageLivestock ProductionRow-crop Production20 acre lake1 Mile of Slough
Mapping my Enterprises
Horse TrailsBlack Roads
Hunting AreasPurple Polygons
Area Opportunities
Allowable ActivitiesTrail Riding• Horses • Bikes• ATV’s
Hunting• Waterfowl• Deer• Turkey
Complete Enterprise list
Agi-tainmentHay RidesPetting ZooFarm Tours
Wildlife ViewingHuntingCampingTrailsLodgingCanoeingAngling
Enterprise Activity Plan
Remember to Plan VisionObjectives
Range of Activities & ServicesPrice for eachHow many people can you accommodate?What will be the maximum capacity?
Maximizing Value
How many Activities can you accommodate?Will you maximize Quantity or Quality?Customer Profile
What they want
Quantity VS. Quality
More folks means less individual satisfaction Don’t diminish performanceThe customer is always rightRemember Sustainability first
Total Revenue Foundation
Target MarketPromotion AdvertisingUniquenessSeasonalityTalents & Location
Revenue Components
ProgrammingInterpretationOperating ScheduleRange of ActivitiesCapacity
Calculate Total Revenue
Revenue StreamsCalendar of Revenue
When it will occur? Number of Sales
Per AcrePer Activity Per Event
Total Sales per year
Types of Enterprise Costs
DirectFood Labor Guide/ManpowerSuppliesFuel
Enterprise Costs
IndirectAdvertisingEquipmentMaintenanceInsuranceManagementIncome taxProfessional• Legal
Projected Income
Revenue – Direct Costs – Indirect Costs (1yr.) = Income
Income Potential
Income by monthIncome by QuarterAnnual Income
Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec
Revenue
Direct Cost
Indirect Cost
Total
Next Steps
Determine tasks to be completedList resource people who can helpDetermine when these items can be completed
Date
Committing To Development
Do you have a map of the property?Can you determine what you have?Will you decide if an enterprise fits your objective?Are these enterprises valuable?Are you willing to get started?
Short Range
What enterprises will you implement this yearCan you get them started?What opportunities will you consider during the first 5 years
Long Range
Looking 5 years out what additional opportunities can you envision?How will you reinvest in the operations you being withWill later enterprise opportunities be compatible with property and venues
Final Thoughts
Please contact us for additional informationWe want to thank you for attending this webinarLet us know if you would like to see more about enterprise development in the futureAllow us to assist you and your local Extension Professionals with NRE’s
T. Adam Tullos
Verona Research and Extension Center
Department of Wildlife, Fisheries & Aquaculture
Mississippi State University
622-566-2201
www.naturalresources.msstate.edu
My Contact Information
