Entrepreneur Observation Report Essay -- essays research papers

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... ...re rabbits to have babies within a couple days and must check them constantly to make sure every think is ok. He plays the role of technician when he builds cages, and maintains cleanliness. I don’t think this business could ever become a franchise although it could become a very large company with thousands of rabbits, and several employees. If it were to become a franchise I think it would best be managed by the franchisees. I think this would eliminate any hierarchy or bureaucracy involved in most franchises. Of course there would be a main office to coordinate advertising and to offer help to franchisees with questions or problems. I don’t have too many suggestions except to attempt all of the plans he has thought of. I also think that he needs to make a profit before he starts expanding any more. Once he gets into the cycle of raising and selling the rabbits he can then begin to expand, but not before then. This is really a business that has a lot of potential, and had a lot of things going for it. It is proof to me that the only successful entrepreneur is the guy that gets the idea and does it, not the guy that just thinks it would be a good idea for someone else to do. Entrepreneur Observation Report Essay -- essays research papers 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... ...re rabbits to have babies within a couple days and must check them constantly to make sure every think is ok. He plays the role of technician when he builds cages, and maintains cleanliness. I don’t think this business could ever become a franchise although it could become a very large company with thousands of rabbits, and several employees. If it were to become a franchise I think it would best be managed by the franchisees. I think this would eliminate any hierarchy or bureaucracy involved in most franchises. Of course there would be a main office to coordinate advertising and to offer help to franchisees with questions or problems. I don’t have too many suggestions except to attempt all of the plans he has thought of. I also think that he needs to make a profit before he starts expanding any more. Once he gets into the cycle of raising and selling the rabbits he can then begin to expand, but not before then. This is really a business that has a lot of potential, and had a lot of things going for it. It is proof to me that the only successful entrepreneur is the guy that gets the idea and does it, not the guy that just thinks it would be a good idea for someone else to do.