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6.2 Management and organization.
Themek Piggery farm is a sole proprietorship. It is wholly owned by Boniface Kwenta, who being the sole owner of the farm will manage the affairs of the farm (piggery). Mr. Boniface Kwenta is a trained stock broker and as such has enough basic knowledge of financial management which he is expected to utilize in running the farm.
To help in the day to day management of the farm. Some other good hands will be hired. The plan is that the hired hands will compliment Mr. Kwenta especially in the area of technical know how in pig rearing. Table 7 shows the staff and management compliments of the piggery farm.
Table 7: Management and Labour Compliments
|s/n||Positions||No. of staff||Annual salary per staff (N)||Total|
|Add 5% fringe benefits||996,000 50,000|
Figure I below shows that organizational structure of the farm
6.3 External support
Themek piggery farm is discussing with the Enugu small and medium Enterprises (SME) centre to offer, over a period of years, strong management and business support service. Also the farm will access I support on technical issues from the Entrepreneurship Development Centre where the proprietor received training on entrepreneurship. Finally the services of a veterinary expert and consultant has been planned to be retained.
6.4 Value and norms of the company.
Themek Piggery Farm plans to adopt the following norms and values:
- To offer the best for the benefit of her customer
- To uphold here integrity always
- To see her employees as her most valuable assets.
- To always be available to her customers.
- To do her business within the federal, state and local government laws
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Legal, environmental, social and regulatory issues.
7.0 Legal issues.
Themek Piggery Farm plans to commence commercial operations as a sole proprietorship. Such it is just enough to register the business name with the appropriate department at the Local Government Headquarters. No special licenses are required for the operation of a Piggery farm; however every attempt will be made to get all necessary permit and
Piggery farming could pose an environmental challenge if certain precautions are not taken especially with respect to waste disposal. It is the plan of the farm to dig a very big septic tank/suck away for all liquid waste of the farm. Also, the fasces of the farm will be dried and recycled as Organic manure. Handled this way, the piggery will not constitute environmental threat to the community.
The implementation of the project will bring about social and economic benefits to the society in the following ways.
1. It will create new jobs
2. It will bring about wealth creation and poverty reduction
The piggery farm will comply with all environmental regulations, as well as all relevant industrial safety regulatory requirements.
8.0 Risk analysis.
This project has been subjected to risk analysis and some inherent risks identified and appropriate mitigants preferred to avoid the business being disrupted. (See table 8).
Table 8: identified Risks & their Mitigants
|Possibility of out break of disease||The service of veterinary experts|
|Inadequate start-up demand||Aggressive promotion and advertising campaigns|
|irregular water supply||A big water reservoir will be constructed to harvest all the rains during raining season which will be used during dry season.|
8.1 SWOT Analysis.
A SWOT analysis carried out on the project reveals the following:
- The location of the piggery makes it to have easy access to its targeted customers
- The specie of the pigs being reared in the piggery have very good lean meat quality.
- The piggery farm has very good plan to contain expansion which is one of the major challenges of pig farming.
The piggery will build on these strengths.
- Initial problems of raising adequate capital for the project anticipated
- The proprietor has limited experience and expertise in piggery farming
- The piggery will have to depend on the services of outside feed mixers for the feed needs of the piggery.
Themek piggery farm plans to address these weaknesses through hiring of farm hands and retaining the services of experts in pig rearing.
– Currently, there is no quality lean pork in the market. Therefore, the cross of large white and Hampshire species which the piggery uses is expected to produce pork’s of exceptional lean meat quality which will be a major advantage.
– Pork meat is in very heavy demand abroad especially when processed into other derivative products of pork. Therefore it is a possibility that the business might grow in future to process the pork into other derivatives that could be exported overseas.
The piggery farm hopes to exploit these opportunities.
– There is still the challenge to convince people to abandon their long held superstition on pork eating.
– Increased competition due to the entry of more pig farmers.
– Low initial demand.
To checkmate these threats, the farm will mount aggressive awareness campaign and other promotions that will portray meat as another good supply of meat protein.
8.2 Exit Strategy
No exit is planned, rather diversification will be pursued.
9.1 Summary of project cost.
The total cost of the project is N3,160,000.00 this is made up of N2,170,000.00 in fixed capital and N950, 000 in working capital.
9.2 Fixed capital investments
Themek Piggery is located at Owerri Kwenta Emene in Enugu on a land area of about 5 standard plots of 60” x 120”. The site is motorable all year round. Table 9 shows the fixed capital investment required for the project.
Table 9: Fixed Capital Investments
|s/n||Detail||Qty||Unit price (N)||Total amount|
|1||Pig houses with 24 pens||4||200000||800000|
|4||Water tanks (2000 gallons) lanterns||1||50000||50000|
|7||Metal wasting basin||10||1600||160000|
|Sub-total A Investment in livestock’s
|Sub total B
Grand total (A + B)
Livestock’s in the forms of sows and boars are taken as investments since they are retained for at least 3 years before disposal.
The piggery is located in a place that is not connected to sources of water and electricity; as such water will be supplied to the farm by commercial water supply tankers, while hurricane lanterns will be used for lightening. Table 10 shows the estimated expenses likely to be incurred for lightening and water.
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