Entrepreneur Observation Report Essay Research Paper This

Entrepreneur Observation Report Essay, Research Paper

This report outlines a very small business of my brother.s.

It describes his business, target market, financial plans, and

marketing plans. I have tried to keep a neutral opinion

about his opinions as much as possible. I have tried to keep

my inputs and thoughts in the conclusion only.

The whole idea of my brother, insert name here, owning a

business started in early March of 1998 when one of the

neighbors jokingly suggested he should raise chickens and

sell them to people. A few days later he realized it could be

easily done, and with a profit. From mid-March to

September, he and I raised, and easily sold 600+ chickens,

we only wished we could have raised more. When March

of 1999 rolled around we were contemplating how many

chickens to buy, when the person we bought the chickens

from told us about the possibilities of rabbits. Because

rabbits are a yearlong project, and we knew I would be

leaving in the fall, it became his decision and ultimately his

project. He started out with 20 baby doe (females), 3 baby

bucks (males), and a small-borrowed hutch (cage) with all

23 rabbits jammed in tight. His investment in rabbits,

although considerable, was still to be outdone by the ones

in hutches and feed. He essentially spent all profits from

chickens the year before and then some. His project now

consists of 20 mature doe, 3 mature bucks, and

approximately 60 babies. He has taken over a section of a

large barn and turned it into a 30+ hutch rabbitry system

with a circulating automatic watering system., and recently

acquired a large weaning cage.

I asked him how he felt when he was getting started and he

said he didn.t like spending all that money but he knew he

would get it all back someday. I then asked him if he was

afraid of competition, or of there not being a big enough

market. He said he knew of nobody else selling rabbit meat

in the area on any scale, and that because rabbit meat is

practically thee healthiest meat, he couldn.t see any

problems in the market. He then said that if personal selling

fails he can sell them through his "chicken provider" on a

per pound basis.

One thing I have always known about my brother and his

rabbit business is that he is very confident in its success and

that even though he knows there will be small problems he

is very sure of overall success.

When I asked him who he sees as his typical customer he

said that first he would talk to people that bought chickens

last year, and then possibly put an add in the Kearney Hub

(an area newspaper). He then said that because rabbit

meat is so healthy he saw the health conscience as his

primary customers he also said that because it wouldn.t be

real cheap, they would be people with money to spend on

special health food. He didn.t have any demographics,

Psychographics, or Geographics, but that he knew there

the supply and that all demand would be his. I asked him if

he saw any reason for his market to shrink, and he said he

didn.t see any reason for it not to grow.

Most of the funding for his business came from our chicken

profits, from me (expecting to be paid back plus some) and

from his savings. While he did not have a business plan set

in concrete he had some basic numbers that he thought

would be attainable and some ideas on how to attain them.

He did not receive funding from a bank. Profit margins for

his business are somewhat unpredictable the number of kits

(baby rabbits) a doe has a year can greatly effect the

business. He tries to conservatively figure his profits.

Here I will try to give you a little info on the possible

income of a 20 doe rabbitry. If the average doe has 12 kits

a litter and has a litter every 1 ¾ month or 9 litters a year,

then each doe averages 108 babies a year. Take this

number times the number of doe or 20 and you get 2160

babies a year. If each baby weighs 4-6 pounds (we.ll use

4) when sold on a per-pound rate you are selling 8640

pounds of rabbit a year. Take this number times $.95, (a

conservative price for rabbit meat per live pound) and

you.re bringing in $8,200.00 a year. Subtract the estimated

$900.00 a year in feed and $500.00 for any other

expenses and you.re left with $6,800.00. This only for 20

doe, because it only takes 6 months for a rabbit to mature

he could, in theory increase his number of mature breeding

stock by a power of 10 in 6 months giving him ten times the

income. However he would have to buy that many more

cages. As you can see though the business definitely has

possibilities for expansion.

There is also the prospect of composting rabbit droppings,

bagging it and selling it at the fa

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