Agribusness Student with Question
I am a current college student in the Agribusiness program. As part of our class we have been tasked with creating our out agribusiness start-up. I have decided to use horse boarding as my start-up business for the project. I had contacted a business owner in my area who initially said they would help, but they have not gotten back with me and my assignment is now due tonight at midnight.
Basically, I need some advice on setting business goals, initial financing of the business, staffing the business, and best practices for conducting market research to identify target market and ensure the business can be successful in the area.
Some goals I have established for starting out are:
*Update advertisements weekly (in local news papers, on Facebook, craigslist and other free internet ad sites)
*Have at least three boarders under contract within the first six months of business
*Hire at least one part-time employee by the end of year three
*By year five, have doubled the number of horses we are able to accommodate (will require acquisition of more land and additional stall space)
My intent is to finance the early stages of the business out of pocket. I have the land and barn/stalls (they will definitely need some updating) and will need feed and supplies.
Any advice that you have would be helpful (for example, I'm sure there are a lot of things I have not even considered that I should be).
I hope that someone will be willing to help. I would like to thank you in advance!