|Current Status||Concept / Business Plan|
|Funding Required||RM300,001 to RM600,000|
Limited Edition (LE) Fish Storage Freezer is to stabilize the amount of fish in the community and provide a storage option for fisherman when supply exceeds demand. A series of freezers will be available for fisherman to store fish for future sale or transport out of Sungai Udang. In addition, block ice machines will create ice blocks for preserving fish while out from the sea and also create ice blocks for the use of coffee shop.
Upon deposit of the fish into LE Fish Storage Freezer, the fisherman will make a down payment on the storage fee. Upon withdrawal of the fish, the remainder of the fee will be tendered. The fee is based on both the amount of fish in storage and the length of time spent in the freezer. All ice will be paid in full at the point of sale
|Business Opportunity||Definition of the Market
• Critical Needs of the Market
Today, block ice is only organized by 2-3 supplier for the population of more than 1000 residents in Sungai Udang. There are currently only have few options for the purchase of block ice.
In the area of the Storage Freezer, there is no direct competition in or near Sungai Udang. There is only one cold store available in Sungai Udang to purchase the fish from fisherman and keep for freezing for outside sales.Profile of Targeted Clients
There are two services provided by the LE Fish Storage Freezer and therefore two client types – users of Block Ice and users of Frozen Storage.
A typical client for Block Ice is a fisherman with a need to preserve fish for short periods while out from thesea and the owner of coffee shop in Sungai Udang area who need the block ice for business purpose. A fishing excursion can last from one to four days, and during that time block ice is used to preserve fish until they return to land. Block Ice sold by the LE Fish Storage Freezer will mimic options available in Sungai Udang without the transport complexity.
A typical client for Frozen Storage is a fisherman with a need to preserve fish for long periods. With no long term preservation methods currently available, much is wasted or sold at a loss during the height of a season when large surpluses of fish are available. This fisherman will pay for the ability to store fish during the height of the season, so that it can be sold later in the year after the fresh stock has been exhausted. This client may also pay for his fish to be frozen so that it can be transported out of Sungai Udang for sale in Penang or another large city.
Note that the term “fisherman” as used in this section may also refer to the owner of the fishing boat. In some cases, the fisherman is an independent operator of their fishing boat. In many cases however, a collection of fishing boats are owned by a local businessperson and the “fishermen” are employees of that owner. Under this arrangement, fishermen are often paid for their time in both cash and a percentage of the catch. Therefore, both the owner and the fisherman may be clients when the yield is high.
|Revenue / Business Model||Description of the Products and Services
• Block Ice
Block Ice will be produced at the LE Fish Storage Freezer using potable water. It will weigh approximately 5KG per pack. The ice will be sold at market rates, or between RM4-RM7 per pack and to be paid in full at the time of purchase.
• Fish Freezing and Storage
Fish Freezing and Storage is altogether a new concept for the fishermen of Sungai Udang, and as such requires close observation during initial operation. All parties, including employees, customers, the management of LE Fish Storage Freezer must be prepared to make changes to the business plan if conditions warrant. However, all parties must agree not to make changes to the concept of operations during the first six months to ensure that accurate trend data is available.
Fees will be charged for both flash freezing fish and for storage of frozen fish. Fishermen who pay for only flash freezing will likely transport the fish to market outside of SungaI Udang. Those that pay for freezing and storage will likely sell the fish in Sungai Udang once fresh supplies dwindle. Any customer that wants to deposit fish in frozen storage must pay for flash freezing as well.
Fifty percent (50%) of fees will be paid in advance of services being rendered. The remainder will be paid when the fish is retrieved. Fees for fish storage will be assumed at 1 month, unless more time is paid for in advance. Any fish left in storage for over three (3) months without receiving a supplemental payment will be forfeited to LE Fish Storage Freezer ownership. The fisherman who made the deposit and failed to pay for additional time in the freezer will be penalized by requiring all payments for the next six (6) months to be paid in full prior to flash freezing or storage. A table of rates follows (all rates subject to change):
A table of rates follows (all rates subject to change):
Service Rate Notes
Flash Freezing – Frozen RM2 per KG Takes 24 hours
Weekly Storage – Frozen RM1 per KG Also Requires Flash Freezing
Monthly Storage – Frozen RM0.50 per KG Also Requires Flash Freezing
** Normally the fisherman will come back with tons volume of fish.
|Management Team||Business Goals and Objectives
The objective of the LE Fish Storage Freezer is to stabilize the fishing market in Sungai Udang, provide future opportunities for sale outside of Sungai Udang, and create economic opportunities for the residents.
Initially, LE Fish Storage Freezer will managed locally by my own family and we will also employ the following people to handle the different responsibilities from its various tasks;
• Chief Executive Officer
• Human Resource and Admin Manager
• Store manager
• Ice block machine repair and maintenance manager
• Distribution and Delivery Driver
• CleanerRoles and Responsibilities
Chief Executive Officer
• In charge of creating the organization’s vision, policies and directions and ensuring its effective implementation
• Responsible for creating the organizational budget
• Meets and negotiates with high level clients in order to secure deals on behalf of the company
• Provides counsel, coaching and also disciplining of key staffs all in a bid to achieve organizational goals
Human Resource and Admin Manager
Ice block machine repair and maintenance manager
Distribution and Delivery Driver
|Business Address||xxxxx Nibong Tebal Penang|
|Contact Person||Esther Tan|