Cornish Native Oysters Business Plan 2 September 16 2012

Strengths

• Cornish Native Oysters, named ‘Best Fish & Seafood Producer’ in Telegraph’s Good Produce Guide 2012 by Rose Prince

• High value product, Local Delivery Partner, SE Distribution Centre, National Home Delivery

• Supplier to Michelin Chef’s & Restaurants

 Weaknesses

• Pre season payments (insurance, licenses, DEFRA, rent etc.) before any revenue

• 6 months season, October until March

• Low value for fishermen who need to be paid weekly = High turnover of crew

• Michelin Chef’s & Restaurants wanting to pay 90 days after invoice

 Opportunities

• Working more than 40 days of approx. 130 days in season

• Operating 4 dredges per boat

• Saving another old oyster boat, Working 2 boats, Creating 4 Jobs

• Supplying larger quantities to more restaurants

• Maintaining a larger part of the fragile fishery

 Threats

• EU Fishing Vessel Licensing scuppering the ‘<10m Engineless Exemption’

• Introduction of non native species onto the wild native oyster fishery damaging the beds (see Duchy Oyster Farm)

As a sole trader…

I am maintaining the boats, teaching crew, gathering the wild oysters, grading them each day, cleaning them in my purification centre, pro active sales & marketing, packing and dispatching orders, trade shows, daily admin, book keeping and petitioning against the threats to the fishery.

Like many small businesses…

I desperately need an employee to take over ‘grading them each day, cleaning them in my purification centre, pro active sales & marketing, packing and dispatching orders’ as every day at sea I have to spend a day in the purification centre and lose another day at sea. We have 6-month season so effectively I am breaking even in 3 months…

To assist with cash flow, prices will increase but will then be discounted to base price if paid within certain terms (i.e.20% off if paid within 30 days)

The season is October 1^st to March 31^st the hours for fishing are 9-3 Monday – Friday 9-1 Saturday. The fishery suffers from seaweed growth in warmer temperatures so it’s harder to work the heavier dredges at the beginning and end of the season. The yield tends to drop off at the end of the season and every day is weather dependent, some days it is ‘wind over tide’ so difficult to keep the boat drifting favourably. It therefore makes sense to have two boats working on the good days and also improve the number of days out.

Inception (next steps):

Raise capital to cover: Outstanding Finance, Relocation, Input Costs, Capital Assets, Materials and Labour
Rebuild a second boat 'Boy Phil' by selling shares in both her and 'Alf Smythers'
Recruit a second skipper, two crew and someone to operate the purification centre
Incorporate Fal Oyster Ltd. for Share Capital and Allotment
Initiate Oysters From The Fal .org for recruitment, training, apprenticeships and not for profit events