...Sausages, Salami, Meatballs & Kebabs BUSINESS PLAN ON Premium Frozen Beef Products BASED ON A 2010 SUD! P"EPA"ED FO" Mr. Saif Rahman (Sfr) Course Instructor MGT368.6 P"EPA"ED B! #"OUP1
M Ashad Uz aman !I"# $%&'(6$'$3$) M. *amru+ ,asan (I"# $%('((6'$3$) Muhi-u+ ,assan Adi+ !I"# $%('(68'.3$) S/ed Isteaz onaide !I"# $%('(8$'$3$) Tam0eed Rahman !I"# $63'.%8'$3$) Tu-a *han !I"# $%('(11'.3$) Date of Submission: 5 th April, 2010 School of Business North South University TABLE OF CONTENTS E$ecuti%e Summar& 'e O((ortunit& 'e Product )ar*et Anal&sis Methodo+o2/ Mar3et Size Mar3et 4+a/ers Mar3et 4otentia+ 5 4enetration Industr& Anal&sis 46ST Ana+/sis +om(etition Anal&sis "irect Com7etitors Indirect Com7etitors )ar*etin, )i$ 4roduct 5 4ricin2 4romotion )ana,ement eam )anufacturin, - Deli%er& Process Financial Pro.ections Ris3 Ana+/sis E$(ansion Plan Bi/lio,ra('& A((endi$ & 3 3 . . 6 8 8 1 ($ (& (3 (8 (8 (. (6 (% (% (8 &( &8 &1 3$ 33 EXECUTIVE SUMMARY The A2ro'9ased Industr/ in 9an2+adesh es7ecia++/ the frozen food sector is current+/ en0o/in2 a +ucrati:e and e;7onentia+ 2ro<th <ith &8= industr/ 2ro<th. Im7ro:ed catt+e -reedin2> 2ro<in2 consumer demand due to im7ro:ement in +ifest/+e> standard of +i:in2 and increasin2 7urchasin2 7o<er has +ead to a hu2e 0um7 in sa+es in the recent /ears. In addition> ta; e;c+usion and -an3 +oan interest and 7rinci7a+ amount 7a/ment e;em7tion for ne;t 8 /ears -/ the 2o:ernment 7o+ic/ ma3es it a 7ros7ecti:e mar3et and to in:est. Amon2 its com7etitors> 4remium ?rozen 9eef 4roducts face +itt+e com7etition in the +oca+ scenario. @oca+ direct com7etitors inc+ude on+/ Rich (86= mar3et share) <hi+e forei2n -rands are A+'*a-eer> "ou;> *ha+ee0> Sran2osun and A/amas. Amon2 its indirect com7etitors> Afta- and Saus+e/ are dominatin2 esta-+ished -rands in the mar3et <ith one s7ecia+izin2 on+/ in chic3en and the +atter caterin2 on+/ fresh 7roducts. Sur:e/ <ith mana2ers at different 7oint'of'sa+es (A2ora) a+so sho<ed their 7reference to she+f +oca+ -rands and enthusiasm in 7romotin2 them amon2 consumers. 4remium ?rozen 9eef 4roduct ran2e <i++ inc+ude Sausa2es> Meat-a++s> Sa+ami and *e-a-s> the +atter a com7+ete+/ ne< introduction in the mar3et -/ an/ +oca+ firm. It is 7ositionin2 as more for more, offerin2 a :a+ue'added 7rice to its Aua+it/ conscious consumers. Its -usiness inc+udes -oth 9&C and 9&9 customers <ho are <i++in2 to 7a/ com7arati:e+/ hi2her 7rice for more nutrition> assurance of ha+a+> taste and Aua+it/. The mar3et sur:e/ sho<s that around 1$= <ant the current 7roducts in the mar3et to im7ro:e in Aua+it/ and taste. ?urthermore> to create 7roduct and -rand a<areness and esta-+ish its -rand ima2e in the minds of the consumers> 4remium <i++ inc+ude 7romotiona+ too+s +i3e ne<s7a7ers> +eaf+ets> sam7+in2> ma2azines and -i++-oard <ith a tota+ cost of T3. &.>$$>$$$ in the first /ear. The faci+it/ <i++ -e +ocated in Busuf2an0> Cara/an2an0 costin2 T3.3$>$$>$$$. A+on2 the distri-ution ( D 4 a 2 e channe+> se+ecti:e Chand7ur su77+iers <i++ recei:e ($= share <hi+e distri-utors +i3e A2ora <i++ recei:e additiona+ ($= on 7rofit. 4remium <i++ reAuire an in:estment of T3. &$>$$$>$$$ <hich <i++ inc+ude eAuit/ financin2 of .(= and de-t financin2 of 81=. 4a/-ac3 7eriod for 4remium in:estors <i++ -e 2012 /ears from the start of -usiness. A+so 9rea3e:en for sa+es <i++ amount to T3. 1234543617 in 2066 /ears. 6;it 7+an in case of <orse case scenario <i++ -e mer2er <ith a 7otentia+ com7etitor. En the otherhand> a -est case scenario <i++ a++o< further e;7ansion of -usiness -/ 2oin2 for e;7ort after the fifth /ear of -usiness after sufficient increase in retained earnin2s. THE OPPORTUNITY The further ha+a+ meat 7rocessin2 under A2ro'9ased industr/ of 9an2+adesh is recent+/ e;7eriencin2 a renaissance <ith d/namic and far' si2hted entre7reneuria+ -usiness creations that ser:es a di:ersified ran2e of meat 7roducts to its +oca+ consumers as <e++ as contri-utin2 to the countr/Fs e;7ort earnin2s. Amon2 them are 7ou+tr/> shrim7 and catt+e. A+thou2h> recent /ears ha:e 2i:en beef a +ot of -ad 7ress. Man/ ha:e c+aimed that the consum7tion of red meat (es7ecia++/ -eef) endan2er oneFs hea+th and +ead to heart diseases and o-esit/. 9ut this can -e said a-out an/thin2 consumed in e;cess. Therefore it is no< im7ortant to refocus on the nutritiona+ -enefits of -eef in our dai+/ diet and the :ita+ ro+e it 7+a/s in a <e++'-a+anced diet of chi+dren> /oun2 7eo7+e and those in their midd+e'a2es and has ta22ed -eef as ta-oo. Ghat the/ need to 3no< is H9eef in our diet he+7s to nourish and fue+ our -od/ and is the Cum-er Ene source of 4roteinI. Considered a natura+ mu+ti:itamin -ecause of its e;ce++ent source of 7rotein and :itamin 9(& it 3ee7s us ener2ized and su77orts man/ of our -od/Fs dai+/ functions -/ he+7in2 7roduce hormones and enz/mes. 4remium ?rozen 9eef 4roducts understands it consumersF hea+th reAuirements and ser:es a ran2e of halal, tasty, healthy an safe frozen -eef 7roducts that inc+udes sausa2e> sa+ami> meat-a++s> and a :ariet/ of 3e-a-s at a :a+ue'added 7rice. It a+so ta3es into account the need for eas/ & D 4 a 2 e to 7re7are> hass+e'free Auic3 mea+s in our fast'7aced and time'constraint +ife. A+so the demand for -rands +i3e Rich and Afta- sho<s consumer 7reference for +oca+ 7roducts o:er forei2n as there are consistent+/ a:ai+a-+e and a+so ha:e a nationa+ :a+ue. In addition> fast food sho7s and restaurants ha:e a hi2h demand for these frozen -eef 7roducts to cater the ne:er endin2 demand of their customers for :arious -eef menu items +i3e nood+es> hotdo2s> sou7> sand<iches> 3e-a-s etc. Ether factors +i3e im7ro:ed catt+e -reedin2> 2ro<in2 e;7ortin2 o77ortunities in Midd+e'6ast> South'6ast Asia and e:en 6uro7e in future> e;tensi:e trainin2 7ro2rams for meat 7rocessin2 <or3ers -/ @6IC> stricter 2o:ernment contro+ acts (&$$8) <i++ acce+erate the 2ro<in2 7ros7ects of further meat 7rocessin2 -usinesses. THE PRODUCT 4remium ?rozen 9eef 4roducts 7+ans to introduce four 4remium 7roducts. The 7ortfo+io inc+udes 4remium ?rozen 9eef 4roducts Sausa2e> 4remium ?rozen 9eef 4roducts Meat-a++> 4remium ?rozen 9eef 4roducts Sa+ami and 4remium ?rozen *e-a- (Shish> *athi and Shami). Product Portfolio "escri7tion In2redients Cutrition 5 ,ea+th 4ac3a2in2 SPI+! S)O8ED SAUSA#E ?resh> su7erior Aua+it/ 5 ha+a+ meat <i++ -e used for 7rocessin2. @o< cho+estero+ Internationa+ standard 7ac3a2in2# Re2u+ar size '38$2 ((& 7ieces 7er 7ac3) and -rea3fast size'&.$2 (8 7cJ7ac3). 9eef> de;trose> <hite 7e77er> smo3ed f+a:or> 7ermitted food conditioner> sodium nitrate> monosodium 2+utamane (GSM). It doesnFt contain additiona+ -readcrum-s> fi++ers or e;cess fat and on+/ trace amount of sodium sa+t 6/e'catchin2> air'ti2ht 5 h/2ienic 7ac3a2es. 3 D 4 a 2 e 8.= +ean 2round -eef (hea+th/) ?at (8.8 2m> cho+estero+ $.$6 2m> sodium $..3 2m> car-oh/drate 66.6 2m> dietar/ fi-er .... 2m 6;7ir/ 7eriodJShe+f +ife# 8months a77ro;imate+/ Contains no e22s or dair/ 4rocessed in h/2ienic and strict+/ su7er:ised en:ironment Catura++/ smo3ed 4re7aration time# & minutes PEPPE"! SALA)I 9eef> <ater> modified 7otato starch> 7otassium +actate> sa+t> s7ices> sodium 7hos7hate> su2ar> sodium nitrite> 2ar+ic> de;trose> sodium ascor-ate> smo3e f+a:or Cho+estero+ $.$6 2m> sodium $..3 2m> car-oh/drate 66.6 2m> dietar/ fi-er .... 2m Internationa+ standard 7ac3a2in2# 9rea3fast size# &6 7c J&$$2m and Re2u+ar size# (&7c J ($$2m Catura++/ smo3ed Trimmed to $K ?at 6;7ir/ 4eriodJShe+f +ife# 8 months a77ro;imate+/ 8.= +ean 2round -eef (hea+th/) 4re7aration time# & minutes FIE"! )EA BALLS 9eef> sa+t> :e2eta-+e 7rotein> s7ices @o< cho+estero+ Ga+nut size meat -a++s ?resh and su7erior Aua+it/ meat <i++ -e used for 7rocessin2. Internationa+ standard 7ac3a2in2# Re2u+ar size# ($ 7cJ3$$2m Contains no e22s or dair/ She+f @ife#8 months a77ro;imate+/ A"ABIAN DELI#9: 8A9I 8EBAB 9eef> sa+t> 3e-a- s7ices> sodium nitrite> 2ar+ic> de;trose> sodium ascor-ate Cho+estero+ $.$6 2m> sodium 8.$m2> car-oh/drate 66.6 2m> dietar/ fi-er & 2m> 4rotein &2 Internationa+ standard 7ac3a2in2# 9rea3fast size# .7cJ3$$2m 5 Re2u+ar# 87cJ8.$2m ?resh and su7erior Aua+it/ meat <i++ -e used for 7rocessin2. She+f @ife#8 months a77ro;imate+/ Coo3 time# (. minutes A"ABIAN DELI#9: S9A)I 8EBAB 9eef> sa+t> 3e-a- s7ices> sodium nitrite> 2ar+ic> de;trose> sodium ascor-ate Cho+estero+ $.$6 2m> sodium 8.$m2> car-oh/drate 66.6 2m> dietar/ fi-er & 2m> Iron 8=> 4rotein &2 Internationa+ standard 7ac3a2in2# 9rea3fast size# .7cJ3$$2m 5 Re2u+ar# 87cJ8.$2m 9eef cut into (Kinch thic3 ro++s She+f @ife#8 months a77ro;imate+/ 8 D 4 a 2 e ?resh and su7erior Aua+it/ meat <i++ -e used for 7rocessin2. Coo3 time# ($ minutes A"ABIAN DELI#9: S9IS9 8EBAB 9eef> sa+t> 3e-a- s7ices> sodium nitrite> 2ar+ic> de;trose> sodium ascor-ate> +emon 2rind> 7e77er Cho+estero+ $..$ 2m> sodium 8.$m2> car-oh/drate ...6 2m> dietar/ fi-er & 2m>Iron 8=> 4rotein 32 Internationa+ standard 7ac3a2in2# 9rea3fast size# .7cJ3$$2m 5 Re2u+ar# 87cJ8.$2m ?resh and su7erior Aua+it/ meat <i++ -e used for 7rocessin2. She+f @ife#8 months a77ro;imate+/ 9eef cut into (Kinch cu-es MARKET ANALYSIS In order to understand the mar3et of frozen -eef 7roducts> an e;tensi:e mar3et research <as carried out. The se2mentation of the tar2et> mar3et size> 2ro<th rate and 7rofita-i+it/ <ere then ana+/zed accordin2+/. )E9ODOLO#! It is :ita+ to remem-er that a thorou2h mar3et> industr/ and com7etitor research reAuires a com-ination of -oth 7rimar/ and secondar/ data. The data co++ection methodo+o2/ is discussed -e+o<. Primar& Data; Sample !uestionnaire: In order to identif/ some 3e/ factors a-out the consumer -eha:ior and mar3et direction> sam7+e Auestionnaires of (3 Auestions each (-oth o-0ecti:e and su-0ecti:e) <ere a+so used. Sam7+e size and se+ection 7rocess# 3$'8$ res7ondents <ere random+/ se+ected to fi++ u7 the Auestionnaire "ocus #roup Discussion: Unstructured> free'f+o<in2 inter:ie<s <ith 2rou7s of 7eo7+e <ere ta3en in order to -etter understand their attitude to<ards 7roduct t/7e and demand. The focus 2rou7s> consistin2 of .'8 7eo7+e each> he+7ed to find out the criteria or . D 4 a 2 e 7arameters that identified the needs of our consumers and ho< to reach the $ntervie%: 7ersona+ inter:ie<s <ere ta3en of com7etitors +i3e Saus+e/> Afta- and others for c+earer understandin2 of mar3et trend> 2ro<th or +ucrati:eness and sustaina-i+it/. A+so for mar3et ana+/sis> inter:ie<s <ith mana2ers and staff of A2ora> 4LS> Candan> Sho7no> Meena 9azar <ere carried out. Secondar& Data; These inc+uded e;tensi:e research on# Ge-sites Ma2azines Ce<s7a7ers for mar3et size> 2ro<th> 2o:ernment 7o+icies> +a-or mar3et etc. En+ine 0ourna+s and artic+es A++ these co++ection of data <ere com7i+ed to2ether to ana+/ze the frozen meat mar3et of 9an2+adesh and see ho< +ucrati:e it is for start u7 -usiness in this sector. Three ma0or factors of the mar3et are discussed -e+o<. )A"8E SI<E #eo,ra('ic Se,mentation; The mar3et size for ?rozen 9eef 4roducts <i++ initia++/ -e confined to on+/ "ha3a Cit/ (ca7ita+) of 9an2+adesh. ?irst for Geo2ra7hic Se2mentation> the cit/ can -e di:ided accordin2 to its cit/ districts Mar3et sur:e/ sho<ed 3%= of the res7ondents +i:e near Uttara fo++o<ed -/ &3= +i:in2 in Gu+shan and &$= in "hanmondi and on+/ 3= from other areas +i3e Mir7ur (A77endi;). The hi2hest demand for the 7roducts is e;7ected from Gu+shan> Uttara and "hanmondi re2ion> <hi+e Mir7ur and Mohammed7ur areas are e;7ected to sho< the +o<est demand due to the difference in income> taste and +ifest/+e. 6 D 4 a 2 e Demo,ra('ic Se,mentation; Random mar3et sur:e/ at the su7erstores resu+ted in on+/ ($= fa++in2 -e+o< &$ /ears (Chi+drenJTeena2ers) <hi+e ma0orit/ <ith 83= -e+on2ed to the a2e se2ment -et<een &$'3$ /ears. 9oth of these se2ments a+so sho<ed a stron2 tendenc/ to -eef 7reference es7ecia++/ frozen -eef 7roducts <ith a dominatin2 %$= out of <hich &% = -e+on2 to the a2e 2rou7 -e+o< 3$ /ears. Amon2 the (%= -e+on2in2 to the a2e se2ment -et<een 3('8$ /ears> more than ha+f are direct consumers. The &$$. "ha3a cit/ income distri-ution amon2 the househo+d has -een used in the ta-+e -e+o<. It sho<s the num-er of househo+d <ith e;treme hi2h income (U77er U77er C+ass)> moderate+/ hi2h income (@o<er U77er C+ass) and hi2her midd+e income (,i2her Midd+e C+ass). In addition> the 7o7u+ation in "ha3a Metro has a+so -een ca+cu+ated. Accordin2 to the mar3et research> &%= of the res7ondents ha:e an a:era2e month+/ income of T3. %.>$$$ and a-o:e and can -e c+assified as the U77er U77er c+ass. Simi+ar+/> &3= -e+on2s to @o<er U77er c+ass <ith an a:era2e income ran2e of T3. .$'%.>$$$ month+/ (A77endi;). ?urthermore> amon2 those -e+on2in2 to the U77er U77er c+ass> .$= s7ends T3. ($$$ to 3$$$ month+/ on -eef <hi+e on+/ &$= s7end +ess than T3. ($$$ and 3$= s7end more than T3. 3$$$. This means that around (3..= are ardent and re2u+ar -eef consumers <ith &.= of the res7ondents s7endin2 more than &3= of their tota+ e;7enditure of -eef on frozen 7roducts <hi+e another &.= s7ends more than (J3 of their e;7enditure of -eef on frozen 7roducts. The @o<er U77er C+ass and U77er Midd+e C+ass to2ether contained 83= of the res7ondents. Around (..8= s7end either ha+f or one'si;th of their tota+ e;7enditure of -eef on frozen -eef. Ghi+e around &3= res7ondentsF 7ro7ortion of e;7enditure of frozen -eef to tota+ -eef s7endin2 ran2es from .$'%$=. (A77endi;). Ot'er Basis of Se,mentation; @ast+/> 7s/cho2ra7hic and -eha:iora+ tar2et mar3et has -een identified to narro< do<n the mar3et size and ta7 the rea+ consumers of the 7roduct. % D 4 a 2 e Mar3et research has a+so sho<n that 86.83= 7rofessiona+s and a-out (3= of the house<i:es sho<ed hi2h 7reference for -eef 7roducts -ecause of ur-anization> decreasin2 fami+/ size> the s7read of education and em7+o/ment amon2 <omen> risin2 in standard of +i:in2> inf+uenced -/ chi+drenFs 7reference> <hich in turn +ead to a ma0or shift in food ha-its in u77er'midd+e c+ass and a-o:e. Amon2 students a+most 1%= are -eef consumers and therefore our ma0or tar2et se2ment. (A77endi;). Summar&; Mar3et research at 7oint'of'sa+es ha:e sho<n a <ee3+/ mar3et demand for frozen -eef 7roducts of a-out &'3= of tota+ demand of su7erstore 7roducts due to the mar3et 7reference 7ercenta2es sho<n a-o:e. Ghi+e demand for frozen -eef 7roducts in Aua+it/ and u7-eat fast food sho7s and e+ite hote+s ha:e sho<n a <ee3+/ demand of T3. &$>$$$. 6stimated tota+ mar3et <orth is a-out T3. ..% crore (A77endi;) )A"8E PLA!E"S Current+/ the ma0or 7+a/ers for frozen food 7roducts in the mar3et are (+oca+ com7anies) "ic' Food (roducts =it' >2? mar*et s'are and 7roducts ran2in2 from chic3en> -eef and fish and forei2n -rands inc+ude A+ *a-eer' the +eadin2 com7etitor in -eef 7roducts> "ou;> A/amas and Sran2osun <ho most+/ s7ecia+ize in chic3en 7roducts and sometimes in -eef. Indirect mar3et shareho+ders inc+ude Saus+e/Fs and Afta- ?ood 7roducts <ho dominatin2 in 7ou+tr/ 7roducts.> the former s7ecia+izin2 in non' frozen> fresh sausa2e 7roducts. )A"8E POENIAL AND PENE"AION Accordin2 to the mar3et research> %$= sho<ed inc+ination to<ards sausa2e frozen food 7roduct> <ith meat-a++s ho+din2 8$= of the share and 33= for 3e-a-s and 3$= for sa+ami. Amon2 them> 8%= of the sausa2e +o:ers> a++ of sa+ami> a-out 33= of meat-a++ +o:ers and a+most 8 D 4 a 2 e 3$= of the 3e-a- enthusiasts fa:ors -eef either <ith or o:er chic3en> fish and sea food (A77endi;). Ma0or ad:anta2e of the current mar3et scenario is +ac3 of 9eef *e-a- 7roducts -oth +oca+ and forei2n 7roduced. This minimizes com7etition for 4remium ?rozen 9eef 4roducts to on+/ +oca+ 7roducers Rich> and ?orei2n im7orts +i3e A+'*a-eer. The 7roduct +ine for 9eef *e-a- are com7+ete+/ ne< and unri:a+ed in the +oca+ mar3et> therefore 7ro:idin2 it a hu2e o77ortunit/ to ca7ture the unta77ed mar3et se2ment. ItFs on+/ ma0or com7etitor is A+'*a-eer> <hich is im7orted> :er/ e;7ensi:e and is not a+<a/s a:ai+a-+e due to 7oor distri-ution channe+. A+so it suffers from constant 7rice f+uctuations -ut as it 7+a/s a mono7o+/ ro+e in the mar3et> it en0o/s an unfa+terin2 demand. The de:e+o7ment of customerFs taste> hea+th a<areness and e;7erimentin2 ne< 7roducts are 3e/ success indicators for 4remium ?rozen 9eef 4roducts A+so 2o:ernment acts to ensure strict re2u+ations to maintain Aua+it/ of meat and increased catt+e 7roduction offers the o77ortunit/ to e;7and throu2h e;7ort to countries in the Midd+e'6ast> South Asia +i3e Ma+a/sia> Indonesia and e:en to 6uro7e. In addition> some or2anizations are co++a-oratin2 <ith meat 7roducin2 com7anies to 7ro:ide standard and Aua+it/ trainin2 to <or3ers and therefore de:e+o7in2 their s3i++ and ensurin2 more Aua+it/ contro+. INDUSTRY ANALYSIS Some of the 3e/ hi2h+i2hts of success are# 9an2+adesh current+/ has a 7o7u+ation 2ro<th rate of (.&1&= (&$$1 est.) and a +iterac/ rate of 8%.1= and increasin2 standard of +i:in2. The G"4 at current 7rice is US M 81.$8 mi++ion ("S6 In:estorFs Guide). 1 D 4 a 2 e Thou2h -ein2 a de:e+o7in2 countr/> it is current+/ e;7eriencin2 an increase in its de:e+o7ment in s3i++ and 3no<+ed2e. 4eo7+e are 2radua++/ shiftin2 to more conscious -u/in2 ha-its (es7ecia++/ for food) due to e;7osure to the 2+o-a+ trends and recent e:ents from the food court fiasco. ?rozen foods is the second +ar2est e;7ort sector of the econom/ <ith a recent average aual gr!"t# rate !$ %&' (9an2+adesh 9oard of In:estment) <ith some com7anies +i3e Afta- and Rich en0o/in2 an un-e+ie:a-+e ($$= 2ro<th in sa+es in most /ears (Com7etitor inter:ie<). The massi:e natura+ resources a:ai+a-+e in 9an2+adesh ma3e this sector 7articu+ar+/ 7romisin2 for in:estors +oo3in2 to su77+/ in internationa+ as <e++ as in domestic mar3ets. This 7ro:ides a +ucrati:e o77ortunit/ to understand and ca7ture the 2ro<in2 demand for Aua+it/ contro++ed and hea+th/ food 7roducts and ser:e this e;7andin2 niche mar3et. A+so fo++o<in2 a 7eriod of stron2 in:estment in techno+o2/> 7rocesses and re2u+ation the frozen foods sector has f+ourished and earned itse+f an e;ce++ent re7utation <ith tradin2 7artners. Also e&emption from payin' interest an proportion of principal amount for the ne&t ( years for ban) loans for A'ro*Base inustry an ta& holiays ma)e it lucrative+ Continuin2 in:estment in techno+o2/> mar3etin2 and Aua+it/ remain at the forefront of the industriesN strate2/ to meet the cha++en2es of internationa+ trade in 7rice> Aua+it/> time and ser:ice. Cases of 9ird ?+u in our countr/ <i++ act as a stren2th for the com7an/ as consumers of chic3en <i++ shift to -eef 7roducts due to hea+th issues. The 46ST ana+/sis <i++ 7resent a c+earer 7icture of the industr/ for frozen -eef 7roducts. POLII+AL ($ D 4 a 2 e 9an2+adesh had o:er the 7ast fe< /ears ha:e e;7erienced its fair share of 7o+itica+ unrest and economic do<nturn. 9ut recent /ears ha:e sho<n the 2o:ernmentFs ea2erness to de:e+o7 its industria+ manufacturin2 sector and encoura2e ne< in:estments -oth +oca+ and forei2n -oth on +ar2e and sma++ sca+e. A+on2 <ith the RMG sector> the Go:ernment has de:e+o7ed initiati:es of Aua+it/ assurance for frozen foods in co'o7eration <ith e;7orters. This has initiated an increase in e;7orts of frozen foods +i3e shrim7 and meat. Acts or Erdinances to ensure Aua+it/ contro+ ha:e he+7ed de:e+o7 this industr/ to -e more com7etiti:e and 7otentia+ -oth at home and a-road. E+ONO)I+ 6conomic factors +i3e the +e:e+ of dis7osa-+e income> -u/erNs confidence to s7end on +u;ur/ 2oods are some crucia+ :aria-+e re+ated to this 3ind of -usiness es7ecia++/ as 4remium ?rozen 9eef 4roducts are 7ro:idin2 a :a+ue'added 7rice. As discussed a-o:e the G"4 2ro<th rate is a re+ia-+e indicator that the countr/ is e;7eriencin2 a -oomin2 2ro<th com7ared to most <estern countries. This in turn is attractin2 forei2n in:estments and 7romotin2 ne< com7anies to enter the mar3et more easi+/ as <e++ as ensurin2 their +on2 term sustaina-i+it/. A:ai+a-i+it/ of ca7ita+> de:e+o7ment of the 9an3in2 s/stem as <e++ as the financia+ institutions and the ease of +oan 7ro:isions are im7ortant factors attractin2 sma++ entre7reneurs to the mar3et -as3et. SO+IAL The Asian frozen food mar3et> es7ecia++/ 9an2+adesh is e;7eriencin2 an increased demand for ha+a+ frozen meat 7roducts. ?our factors inf+uencin2 the current consum7tion shift are# Increase in dis7osa-+e income that +ed to the increase in consumersF food e;7enditure. Increase in a<areness of frozen foodFs time sa:in2 -enefits. Increase in the use of refri2eration amon2 househo+ds. (( D 4 a 2 e Gro<th in the Gestern st/+e fast food industr/ that encoura2es the 7urchasin2 of frozen Chi++ed food <ith the same taste. (,a+a+ ?ood Mar3et) Increase in num-er of <or3in2 7arents (-oth father and mother) therefore need for hass+e free> eas/ to 7re7are mea+s or snac3s. Gro<in2 trend for e;7erimentin2 <ith different foods and tr/in2 out fusion reci7es that are nutritious> tast/ and es7ecia++/ a77ea+in2 to chi+dren. Mar3etin2 7ro2rams to educate and inform consumers a-out the ad:anta2es of chi++ed and frozen foods 4romotiona+ acti:ities> es7ecia++/ media ad:ertisin2 and demonstrations are effecti:e in communicatin2 the :a+ue of chi++ed and frozen 7roducts> i.e. as <e++ as fresh food> if not -etter> more h/2ienic> and tast/. Studies sho< that sa+es of chi++ed and frozen foods are more 7romotion' res7onsi:e than those of other 7roducts. Accordin2 to mar3et research ma0orit/ <ith 63= 7refers +eaf+ets and -anners for 7romotion <hi+e 6$= associate <ith ne<s7a7er <hi+e another most +ucrati:e medium of ad:ertisement to -ui+d a<areness is throu2h <ord of mouth <ith 33= res7ondent 7reference (A77endi;). Consumers 7refer trans7arent 7ac3a2in2 for read/'to' ser:e mea+s> so the/ can see the contents. E+9NOLO#I+AL In:estment in the frozen food sector <ith ne< techno+o2/ and eAui7ment has :ast 7otentia+ for 2ro<th <ith incredi-+e o77ortunities in 9an2+adesh itse+f as <e++ as e;7ortin2 in Midd+e 6ast> 6U> Corth America and the far eastern countries. 9ecause of 2+o-a+ization the +atest techno+o2ies are -ecomin2 a:ai+a-+e due to chea7er 7rices and Aua+it/ maintenance <hich has made the 7roduction 7rocedure eas/> enhanced the 7roducti:it/ and stream+ined 2reat Aua+it/. 6ase of chea7er -ut Aua+it/ im7orts of Chinese machineries a+so he+7 to reduce in:est costs and therefore ena-+e to 7roduce at +o<er costs and so there-/ reducin2 7rice -ut ensurin2 Aua+it/ (& D 4 a 2 e contro+. Assem-+/ +ine automated 7roduction 7rocess a+so induce mass 7roduction> minimize human errors and tam7erin2 <ith food Aua+it/ and maintains uniformit/ in taste> su7eriorit/ and in2redients. Im7ro:ement in the co+d'chain> i.e.> -etter eAui7ment> 7ro7er food hand+in2 7ractices> adeAuate trans7ortation> and stora2e ha:e encoura2ed hi2her out7ut and minimized incidences of s7oi+a2e. ?eed mea+s 7+ants and 7rocessin2 unit for :a+ue'added 7roducts are at 7resent the -uzz <ords in 9an2+adeshi frozen meat industr/. 6Aui:a+ent+/> <or3ers are a+so recei:in2 trainin2 for s3i++ de:e+o7ment in o7eratin2 these ad:anced techno+o2ies therefore com7+ementin2 each others 2ro<th simu+taneous+/. COMPETITION ANALYSIS Mar3et research at :arious 7oint'of'sa+es in "ha3a 2a:e a c+ear understandin2 of the different com7etin2 7roducts in the mar3et> their 7ac3a2in2 and 7ricin2. The ta-+e -e+o< sho<s its summar/. DI"E+ +O)PEIO"S OF F"O<EN BEEF P"ODU+S Product &(e +om(etitor Name @uantit&A,B PieceCPac PriceA*0B Sausa2e @oca+ Rich &.$ ($ (($ 38$ (& (8$ ?orei2n *ha+ee0 38$ (& (83 A+'*a-eer 8$$ ($ &&$ "ou; 38$ (& (.% A/amas &.$ 8 (($ Sran2osun 38$ ($ (3$ Sa+ami @oca+ Rich ($$ (& 1$ &$$ &6 (.$ ?orei2n A/amas ($$ ($ 1$ Meat 9a++s @oca+ Rich 3$$ ($ (%$ ?orei2n A+'*a-eer 3$$ 8 3$$ Sran2osan 3$$ 8 (%$ A/amas 3$$ ($ (%$ *e-a- ?orei2n A+'*a-eer 8.$ 6 3&$ Inter:ie<s <ith the mana2ers and staffs of different su7erstores sho<ed that different 7oint'of'sa+es 7romotes different -rands> -ut the/ a++ 7refer (3 D 4 a 2 e to encoura2e and she+f +oca+ -rands (Rich and Afta-) most+/ due to man/ ad:anta2es. These inc+ude more fami+iar and c+ose re+ationshi7 <ith their dea+ersJdistri-utors of the 7roducts> consistent su77+/ of the 7roducts> and easierJAuic3 to res7ond to the chan2es in mar3et demand. This ma3es in:entor/ mana2ement more cost'effecti:e and efficient. DI"E+ +O)PEIO"S; There are se:era+ direct com7etitors in the frozen -eef mar3et as re7resented -/ the ta-+e a-o:e. ,o<e:er> our 3e/ com7etitors are Rich (+oca+) and A+'*a-eer (forei2n). "ic' Rich A2ro Industries @td. is a su-sidiar/ com7an/ of ,ar:est Rich Grou7> a 7ioneer in te;ti+e and a2ro industr/ in 9an2+adesh. NRichN is the mar3et +eader in 9an2+adesh for further 7rocessed meat 7roducts <hich dominates 86= of the mar3et share. NRichN 7roduct 7ortfo+io has o:er (&$ t/7es of further 7rocessed 5 :a+ue added 7roduct ran2e in Chic3en> 9eef> ?ish> Mutton 5 Tu-e ice. The/ are cate2orized into Co+d meatsJcuts> Smo3ed 5 Gourmet S7ecia+ties> Sausa2es> 9ur2ers and 9readin2 +ine Cu22ets> and *ie:s. Their 7roduct ran2e cate2ories are -een distri-uted to a++ . Star hote+s> Internationa+ restaurants> Chain Stores to the Corner sho7s in their o<n f+eet of co+d refer truc3s. ?rom the consumer sur:e/ it <as found that 83= of the consumers 7referred Rich (33= on+/ Rich a+one). Its dominance <as more e:ident u7on as3in2 A2oraO the/ said that Rich is the hi2hest se++in2 frozen -eef from their stores. Al:8a/eer A+'*a-eerFs o-session <ith Aua+it/ in 7rocurement> manufacturin2 and distri-ution of ?rozen ?oods has he+7ed esta-+ish them as a +eader in the Midd+e 6ast ?rozen ?ood Industr/. The A+'*a-eer caterin2 ran2e inc+udes meat> 7ou+tr/> seafood> :e2etarian 7roducts> and read/'to'eat (8 D 4 a 2 e 7roducts. A+ *a-eer has -een in the -usiness for Mutton> Chic3en and 9eef for o:er three decades no<. 9rand 7reference for A+'*a-eer <as found to -e 8%=> <hich is the second hi2hest> des7ite its much hi2her 7rice (around (.%. times more) than Rich of simi+ar 7ac3a2in2. A2ora confirmed its 7reference throu2h informin2 us that itFs the second most se++in2 frozen -eef from their stores after Rich. A+'*a-eer is our on+/ com7etitor in terms of frozen -eef *e-a-. A&amas3 Dou$3 and Sran,osun The/ are some of our forei2n direct com7etitors -ut the/ do not 7ose much of a threat to us -ecause of their ne2+i2i-+e -rand 7reference and mar3et share. Accordin2 to our sur:e/> a++ of them com-ined too3 u7 on+/ 6= of the -rand 7reference. ,o<e:er> des7ite -ein2 forei2n> their 7ricin2 are 7rett/ com7etiti:e and simi+ar to +oca+ 7roducers +i3e Rich. This cou+d -e the on+/ 7otentia+ threat to us. INDI"E+ +O)PEIO"S; There are fe< indirect com7etitors of our frozen -eef 7roducts. The/ are main+/ the +oca+ 7roducers Afta- and Saus+e/. Afta/ se++ on+/ frozen chic3en 7roducts of more or +ess same cate2ories +i3e sausa2e> meat-a++> and sa+ami. 9ut their -rand 7reference <as found to -e si2nificant+/ hi2h amon2 the consumers <ith 3$=. So if Afta- enters the mar3et <ith -eef> this cou+d 7ose a nota-+e threat. Ghereas Sausle& do se++ -eef -ut the/ are not 7ac3a2ed in the <a/ other -rands are. The/ offer their 7roducts fresh and not frozen at their 7ersona+ out+ets and a+so at the +oca+ su7erstores in a se7arate counter. So customers can actua++/ -u/ the amount accordin2 to their needs. Considerin2 this scenario> Premium frozen -eef 7roducts <i++ -e 7ro:idin2 su7erior Aua+it/ and taste than that of Rich at a hi2her 7rice. This <ou+d 7ut us into a com7etiti:e ad:anta2e -ecause> 8%= of the consumers considered Aua+it/ taste as an im7ortant feature of frozen -eef 7roducts and on+/ &$= <ent for 7rice. 6:en thou2h -rand 7reference for Rich <as found to -e 83=> 1$= <anted an im7ro:ement on Aua+it/ taste (. D 4 a 2 e (A77endi;). A+so> the forei2n -rand A+'*a-eer <as found to -e second most 7referred after Rich des7ite its much hi2her 7rice (A77endi;).. A++ of these facts and fi2ures indicate that <e ha:e an immense 7otentia+ to 2ra- a 2ood mar3et share from the first /ear. )A"8EIN# )ID P"ODU+ - P"I+IN# A successfu+ -usiness strate2/ reAuires considerin2 se:era+ dimensions to esta-+ish its com7etiti:e ad:anta2e. The ma0or success factor is hea:i+/ de7endent on its 7roduct and 7ricin2. 4remium ?rozen 9eef 4roducts is 7ositionin2 as more for more, offerin2 a :a+ue'added 7rice to its Aua+it/ conscious consumers. Its -usiness inc+udes -oth 9&C and 9&9 customers <ho are <i++in2 to 7a/ com7arati:e+/ hi2her 7rice for more nutrition> assurance of ha+a+> taste and Aua+it/. The mar3et sur:e/ sho<s that around 1$= <ant the current 7roducts in the mar3et to im7ro:e in Aua+it/ and taste (A77endi;). A+so mana2ers in 7oint'of'sa+es (A2ora> "esai> 4LS) a2reed that most consumers no< a da/s are <i++in2 to 7a/ more for Aua+it/ 7roducts and therefore -ands +i3e A+'*a-eer are in hu2e demand. 9ut the su7er stores fai+ to she+f these 7roducts at a++ times due to +ac3 of su77+/ for im7ort discre7ancies and therefore are ea2er+/ +oo3in2 for +oca+ su-stitutes. Most hote+s> fast food sho7s and u7to<n restaurants are stri:in2 to com7ete in this cutthroat mar3et -/ 7ro:idin2 menus that sometimes 7ut the taste'-uds to test. Ta-+e -e+o< sho<s the 7roducts ran2e and 7ricin2 structure of 4remium ?rozen 9eef 4roducts. Premium Product3 Pac*a,in, - Pricin, Product &(e @uantit& A,B PieceC Pac E'olesale PriceA*0B "etail PriceA*0B Faddin, 10?G S7ic/ Sausa2e &.$ 8 ((8 (3$ 38$ (& (8. (6$ 4e77er/ Sa+ami &$$ &6 (.. (%$ (6 D 4 a 2 e ($$ (& ($$ (($ ?ier/ Meat 9a++s 3$$ ($ (%3 (1$ Ara-ian "e+i2ht '*athi *e-a- 3$$ . ($$ (($ 8.$ 8 (63 (8$ Ara-ian "e+i2ht 'Shami *e-a- 3$$ . ($$ (($ 8.$ 8 (63 (8$ Ara-ian "e+i2ht 'Shish *e-a- 3$$ . ($$ (($ 8.$ 8 (63 (8$ P"O)OION The second most :ita+ dimension of success and sustaina-i+it/ in a com7etiti:e mar3et is a -usinessFs 7romotiona+ strate2/ as itFs the so+e medium to reach the customers and ma3e them a<are of the 7roduct> en2ra:e the -rand ima2e on their minds and 7osition itse+f in the mar3et. 4remium ?rozen 9eef 4roducts ha:e identified the fo++o<in2 too+s for 7romotion and their costin2. Name Placement FreHuenc& +ostC 7 mont's A*0B otal +ost A*0B Ne=s(a(er 4rothom A+o ?ront 4a2e P 9ottom 7art 6I ; (8I 3da/s a <ee3. ?rida/> Saturda/ and Tuesda/. 8>68>$$$ "iscount &$= (>%&>8$$ The "ai+/ Star ?ront 4a2e P 9ottom 7art 6I ; (8I 3da/s a <ee3. ?rida/> Saturda/ and Tuesda/. 8>68>$$$ "iscount &$= (>%&>8$$ Qana3anta ?ront 4a2e P 9ottom 7art 6I ; &da/s a <ee3. ?rida/> &8>8$$ "iscount (% D 4 a 2 e (8I Tuesda/. &$= (>(.>&$$ 43203>00 Leaflets 3>$$>$$$ units 3 ta3a 7er +eaf+et 13003000 )a,azines 9ac3 Co:er Gee3+/ 13503000 Sam(lin, At 7oint'of Sa+es> Schoo+s> Uni:ersities> ?airs 23523200 Bill/oard Gu+shan ( 73703000 Ee/ Site 7000 Source: ,eia,i& -t+ 253003000 The 7romotiona+ costin2 initia++/ <i++ -e hi2h in order to intense+/ 7romote 4remiumFs 9rand ima2e in the minds of the consumers and create a<areness. Com7etitor inter:ie< sho<ed that the most effecti:e too+ is sam7+in2 and +eaf+ets and therefore consists of a ma0or 7art of the tota+ costin2. A+so> as it is a niche 7roduct so on+/ se+ecti:e ne<s7a7ers and ma2azines <i++ -e used for ad:ertisement. The tota+ 7romotiona+ costin2 <i++ decrease in the fo++o<in2 /ears> as 4remium <i++ 2radua++/ esta-+ish its -rand and ima2e and <i++ continue further 7romotion to create a sustaina-+e a<areness amon2 its consumers. MANAGEMENT TEAM The chosen form of o<nershi7 for the -usiness is 4artnershi7 <ith si; mem-ers> each <ith eAua+ contri-ution to ca7ita+. The terms and conditions for the 4artnershi7 A2reement are discussed in the (A77endi;). In 9an2+adesh> 4artnershi7 form of -usiness is most +ucrati:e and eas/ to esta-+ish due to minima+ 2o:ernmenta+ re2u+ations> f+e;i-i+it/ in terms and conditions and e;em7tion from cor7orate ta;ation. 4rocedure for 4artnershi7 9usiness set'u7 in the countr/ are as fo++o<s# Re2istration of 4artnershi7 on Stam7 4a7er for . (8 D 4 a 2 e ReAuirement of Trade @icense from Cit/ Cor7oration -ased on +ocation of -usiness. Certification from 9STI as ?ood Manufacturin2 -usiness <i++ not -e reAuired as 4remium <i++ not -e e;7ortin2 to forei2n countries as /et. The 9usiness or2ano2ram sho<s a summar/ of the hierarch/ structure and the different de7artments in:o+:ed. The resumes (A77endi;) sho< the Aua+ifications of the administrati:e or mana2ement team in:o+:ed. MANUFACTURING & DELIVERY PROCESS FA+ILI! 4remium ?rozen 9eef @td <i++ -e endo<ed <ith a state of the art infrastructure. The com7an/ <i++ inc+ude a modern and ad:anced <arehousin2 faci+it/> inc+udin2 dee7 freezers> etc. <hich are as 7er +atest techno+o2/. This <i++ ena-+e 4remium to store a++ the food 7roducts in fresh conditions and in -u+3> there-/ faci+itatin2 time+/ de+i:er/ at a++ times. An e;ce++ent net<or3 of su77+ier> trans7orters and distri-utor <i++ ena-+es it to function <e++ and meet the s7ecific reAuirements of (1 D 4 a 2 e consumers. The tota+ cost of faci+it/ set u7 <i++ -e T3.8$>$$>$$$ (A77endi;). Location After much assessment a-out the +ocation of the faci+it/> it <as conc+uded that the most con:enient> feasi-+e and cost'effecti:e choice <i++ -e in Busuf2an0 in Ru72an0> Cara/n2an0. The reasons are# The cost of lan in that re2ion is com7arati:e+/ the +o<est and therefore is at 7resent a +ucrati:e 7+ace for settin2 u7 factories. Rich (competitor presence) itse+f is 7resent in Cara/an2an0. @and measurin2 & -i2ha <i++ cost T3.3>$$>$$$ (A77endi;). The +ocation is a+so nearer to the suppliers an resources> <hich are most+/ +ocated in Chand7ur and its nei2h-orin2 re2ion> therefore a++o<in2 eas/ su77+/ routes to and from the source to the factor/. (A77endi;). Cara/an2an0 is a+so at c+ose 7ro;imit/ to the capital .mar)et/, and so ensurin2 faster> +ess cost+/ (trans7ort) and easier de+i:er/ to the 7oint' of'sa+es and other customers. 0heaper -ut more s)ille labor for further meat 7rocessin2 are a:ai+a-+e due to the 7resence of Rich. (A77endi;). La&out @eadin2 o7erations mana2ement ha:e 7ro:ed that 3e/ to an efficient> time and cost sa:in2 manufacturin2 7rocess +ies in the faci+it/ +a/out and the 7roduction 7rocess. ,ence> 4remium -e+ie:es in creatin2 a value chain <ith interre+ated series of 7rocesses to 7roduce its different 7roducts a+on2 different 7roduction +ines. Rarious +a/out desi2ns <ere formu+ated and the -est in terms of :a+ue creation ha:e -een se+ected due to its feasi-i+it/> efficienc/ and cost'effecti:eness usin2 com7etitor faci+it/ ana+/sis and com7uterized heuristics. (A77endi;) E@UIP)EN &$ D 4 a 2 e The faci+it/ <i++ incor7orate some of the most modern semi'automated machiner/ conformin2 to internationa+ standards for h/2iene and safet/> such as Sausa2e @in3in2 machine (to automate the 7ortionin2 and han2in2 7rocess at hi2h s7eed)> 4ee+er machine> S+icer machine (hi2h s7eed)> Meat 9a++ ma3er> Sa+ami Cutter> Mi;er> 9atter> Grinder and Racuum 4ac3a2in2 Machine im7orted from China. The costin2 of these eAui7ments <ere fi;ed <ith different se++ers and distri-utors on+ine In addition to the semi automated 7roduction +ine for meat 7rocessin2> the 7roduction house <i++ ho+d state of the art stora2e freezers> one <ith '. o
C for ra< materia+ and in2redient stora2e> second <ith '(. o to '&& o C for short term stora2e of finished 7roducts and a-o:e '8$ o C for +on2 term stora2e. The accumu+ated cost for a++ of the a-o:e mentioned eAui7ment <i++ -e around T3.( crore. (A77endi;) LABOU" Gith the -oom in the meat 7rocessin2 industr/> 2o:ernment is current+/ encoura2in2 its de:e+o7ment throu2h :arious further meat 7rocessin2 7ro2rams. Er2anizations +i3e @6IC are a+so contri-utin2 to <or3er s3i++ de:e+o7ment -/ 7ro:idin2 courses and technica+ 3no<'ho<. This in turn are encoura2in2 more 7eo7+e to shift to the meat 7rocessin2 industr/ that ensures 0o- securit/> hi2her sa+ar/> hea+th and safet/ in addition to other frin2e -enefits +i3e 7aid +ea:e> -onuses etc. @a-or and Mana2ement Sa+ar/ cost <i++ -e around T3. (>8$>$$$ and <i++ 2ro< steadi+/ (A77endi;). @UALI! ASSU"AN+E ?ood 7roducts or 7rocessed food 7roducts reAuire hi2h Aua+it/ standards in 7ac3a2in2> 7reser:ation> trans7ortation> etc. Understandin2 the fact> due attention to food 7rocurement> 7rocessin2> 7ac3a2in2> hand+in2 and 7reser:ation <i++ -e 7aid. 6:er/ effort <i++ -e made to maintain h/2ienic am-iance> ri2ht from the -e2innin2 to the end of the food 7ac3a2in2 7rocess.The Aua+it/ contro+ team of 4remium (Er2ano2ram ?i2. ) <i++ chec3 e:er/ 7roduct +ine -efore and after 7rocessin2. LI+ENSIN# - +E"IFI+AION &( D 4 a 2 e 4remium ?rozen 9eef 4roduct @td. <i++ -e reAuired to issue trademar3 under the com7an/ <hich <i++ cost T3. 3$$$ (A77endi;). In addition there <i++ -e no need :arious certifications under 9STI (A77endi;). IALUE +9AIN )ANA#E)EN Su((lier +'ain )ana,ement 9ein2 a Mus+im oriented countr/> consumers 7refer +oca++/ 7rocessed meat 7roducts or im7orts from Midd+e'6ast to ensure itFs ha+a+ for consum7tion. Therefore 4remium ?rozen 9eef 4roducts <i++ source its su77+ies of ra< -eef materia+s +oca++/ throu2h contract farmers <i++ <ho <i++ recei:e ($= share of 7rofit as <e++ as recei:e constant su7er:ision for Aua+it/ contro+ and mana2in2 standard. In 7ara++e+> or2anizations +i3e @6IC <i++ he+7 them <ith technica+ 3no<'ho<> <hi+e 2o:ernment su77ort (9an2+adesh Institute of ?armin2) and :arious CGE across the countries can he+7 them <ith financia+ su77ort and catt+e -reedin2 3no<+ed2e. ,ence> the choice of these su77+iers <i++ -e se+ecti:e> focusin2 es7ecia++/ on +oca+ rura+ <omen (di:orced or sin2+e earner) <ho recei:e s7ecia+ aid from these de:e+o7ment or2anizations for catt+e -reedin2 and 7ou+tr/ farmin2 to encoura2e Gomen 6m7o<erment. This in turn <i++ he+7 these <omen -oth financia++/ <ith a consistent source of income as <e++ as he+7 maintain a more sustaina-+e> committed and 7ro2ressi:e re+ationshi7 -et<een the su77+iers and 4remium. The su77+iers <i++ -e concentrated from Chand7ur as the/ 7roduce the -est and Aua+it/ meat in the countr/. 4remium ?rozen 9eef <i++ a+so ha:e a ?ood ins7ector <ho <i++ chec3 the Aua+it/ of the meat su77+ied -/ :isitin2 these +oca+ su77+iers from time to time as <e++ as at the 7roduction 7oint. It <i++ therefore 2uarantee consistent Aua+it/ and +o/a+ chain of su77+iers. && D 4 a 2 e ($= ($= +ontractual Su((liers Premium Frozen Beef +onsumers Point:of:SalesC Business The reAuired meat 7ieces (chun3s) <i++ -e de+i:ered to the faci+it/ -ase on a da/'to'da/ -asis -/ the su77+iers ensure freshness and reduce trans7ort costs to each different su77+iers. Su77+iers <i++ in addition en0o/ additiona+ -enefit of se++in2 the rest of the 7ortions of the catt+e to the +oca+ mar3et at mar3u7s. Deli%er& Process )ana,ement After 7roduction and 7ac3a2in2> the ne;t most :ita+ ste7 is creatin2 and maintainin2 a Aua+it/ > efficient and sustaina-+e de+i:er/ s/stem from the 7roduction faci+it/ <arehouse freezer (short term# '(. to '&& o C and +on2 term# a-o:e '8$ o C) in Cara/an2an0 to the :arious 7oint'of'sa+es (A2ora> Candan etc) and restaurants> hote+s and fast food sho7s around "ha3a Cit/. As each of these su7erstores is <e++ eAui77ed <ith their o<n Stora2e ?reezer ($ to '($ o C) there <i++ -e no need for settin2 u7 additiona+ <arehouses in the cit/. The estimated cost of the freezer truc3s <i++ -e T3. (.>$$>$$$. (A77endi;). Gee3+/ de+i:eries <i++ -e made to the :arious stores and food sho7sJrestaurants dotted around the cit/ accordin2 to their indi:idua+ order 7+acements> :ia 4remium ?rozen 9eef 4roductsF o<n t<o Trans7ort ?reezers ( '(. o to '& o C). This <i++ 2uarantee that 4remiumFs 7roducts <i++ a+<a/s -e a:ai+a-+e at different out+ets of the su7erstores throu2hout the /ear un+i3e most im7orted 7roducts +i3e A+'*a-eer> "ou; etc. This consistenc/ in the se+f de+i:er/ 7rocess a+so <or3s as an encoura2ement for su7erstores as the/ are re+ie:ed from one> fai+in2 to ser:e their customer needs and t<o> from ha:in2 to ta3e the hass+e themse+:es to -rin2 the 7roduct from the 7roducerJdistri-utor to their she+f (as in the case of Afta- and other im7orted 7roducts ( Com7etitor inter:ie<). In addition the/ <i++ recei:e a ($= share of 7rofit> i.e. the retai+ 7rice of the 7roducts <i++ ha:e a ($= mar3'u7 on 4remiumFs <ho+esa+e 7rice therefore a+so 7ro:idin2 them an incenti:e to she+:e the 7roducts and a+so encoura2e its sa+es. (A77endi;) Time+/ de+i:er/ and Aua+it/ 7roducts> com-ined <ith customer contentment are the 2oa+s 4remium <i++ stri:e for. &3 D 4 a 2 e 9EAD OFFI+E To ensure smooth o7erations of Mar3etin2 and "istri-ution Channe+ in the cit/> a head office <i++ -e +ocated in 6s3aton Garden measurin2 &.$$sA ft <hich <i++ cost T3. &$>$$$ as rent. (A77endi;). FINANCIAL PROJECTIONS P"O FO")A IN+O)E SAE)ENS Sales( Ge ha:e ca+cu+ated the mar3et :a+ue of frozen food <hich is T3. .%>&$$>$$$ in a /ear> <here our on+/ domestic com7etitor in frozen -eef RIC, has 8%= of the mar3et share. Ge are assumin2 to 2ra- .$= of the mar3et <hen <e <i++ enter. Ghich means our ( st /ears se++s forecast is (.%>&$$>$$$S$..) T T3. &8>6$$>$$$ CO)S( ?rom our com7etitor sur:e/ <e came to 3no< that cost of 2oods so+d is around 6$= of the se++in2 7rice. Distribut!rs Margi( Eur distri-utors (e.2. A2ora) usua++/ 7ut ($= mar2in on su77+iers 7rices. So if our 7roduct 7rice is T3. ($$ to consumers then distri-utors mar2in <ou+d -e T3. 1.( for that 7roduct. Ot#er !*eratig E+*eses( The/ are usua++/ 6= of the se++in2 7rice. (for our com7etitor) -ut <e ha:e assumed it to -e around 8= for us. Ta+( As <e are in the a2ro'-ased industr/> for the first . /ears <e <i++ ha:e a ta; ,o+ida/. So <e do not need to 2i:e ta; for the first . /ears. (A77endi;) ,terest e+*eses( ?or a2ro'-ased industr/ 9an2+adesh 9an3 has a scheme <here 99 <i++ fund 81= of our in:estment at $= interest rate and no re7a/ment for 8 /ears. (A77endi;) Pro:forma Income Statement Descri(tio n Bear ( Bear & L( L& L3 L8 L( L& L3 L8 Sales %(.$$$ $ %8(8(&. %6163$. %1881(6 8&883.$ 8.1.$(8 81(%3&% 1&.(%&6 A:B +osts of ,oods sold 8&1$$$ $ 88.$8%. 86(%%83 8%1$1.$ 81%$6($ .(.%$$8 .3.$316 ...($36 #ross Profit &86$$$ $ &16%&.$ 3$%8.&& 3(13166 33(3%8$ 3838$$. 3.6613( 3%$$61( &8 D 4 a 2 e otal o(eratin, e$(ense (11%68 . &$3(38$ &$66&18 &($&.6% (%%%(16 (8(6&36 (8.6%8$ (818%63 EBI 86&3.. 13.1($. . ($(&&&8 ($1(8$$ (.36.8. (6&(%%$ (8$(1&8 (8$(1&8 a$ and interest $ $ $ $ $ $ $ $ Net Income 86&3.. 13.1($. . ($(&&&8 ($1(8$$ (.36.8. (6&(%%$ (8$(1&8 (8$(1&8 Pro:forma Income Statement Descri(tio n Bear 3 Bear 8 L( L& L3 L8 L( L& L3 L8 otal o(eratin, e$(enses 1.1866 6 11.86(6 ($33&$6 8 ($%(1.( % (((&(81 8 ((.38.. . ((1%(&. $ (&8&$(%& EBI .%.1&$ $ .1%.(%$ 6(11&31 683(%($ 66%&811 61&3(33 %(8&%.$ %8.&($3 Interest e$(ense 383186 6 3183886 8(3&8&6 8&8%8$% 8888.11 86(.8&& 8%88.$$ 8168$61 otal o(eratin, e$(ense (8$6(6 & (8.(316 (8183&6 (18%$(6 &$(38$& &$6.8(& &(&$(88 &(%66$& EBI &$333$ . &(3&$.( &&38.$$ &38$%1( &83.(18 &.816($ &6683(& &%1(866 a$ and interest $ $ $ $ $ $ $ $ Net Income &$333$ . &(3&$.( &&38.$$ &38$%1( &83.(18 &.816($ &6683(& &%1(866 P"O FO")A +AS9FLOE SAE)ENS Ge are 7+annin2 to increase our a++ t/7e of fi;ed assets as <e++ as current assets -ut neither -/ eAuit/ nor de-t financin2 -ut from our retained earnin2s. As <e ha:e to -u/ ne< assets so <e ha:e cash outf+o< from our retained earnin2s for financin2 these ne< assets. As <e do not ha:e an/ de-t or ta; o-+i2ation so our cash for financin2 acti:ities is zero throu2hout the 8 /ears. Pro:forma +as' Flo= Statement Bear 3 Bear 8 L( L& L3 L8 L( L& L3 L8 +as' flo=s from o(eratin, acti%ities; &&(1&66 &3($&$6 &8$8..6 &.$&888 &.88(33 &613.$( &8$&8&$ &1(6&38 +as' flo=s from in%estment acti%ities; 8(.((.. 6 8(.((.. 6 8(.((.. 6 8(.((.. 6 .36.$(. % .36.$(. % .36.$(. % .36.$(.% +as' flo=s from financin, acti%ities; $ $ $ $ $ $ $ $ &. D 4 a 2 e NE IN+"EASECDE+"EAS E IN +AS9; (8$8(.$ (81.$1$ (18188$ &$8%3&1 &$.(63& &(.6111 &&663(8 &3%1%3% Pro:forma +as' Flo= Statement Bear ( Bear & L( L& L3 L8 L( L& L3 L8 +as' flo=s from o(eratin, acti%ities; (&.688$ ((61(6( (&3188& (3(&3.8 (%.($$1 (8&181% (1($1&8 (11.8(3 +as' flo=s from in%estment acti%ities; $ $ $ $ 3$1.6&. . 3$1.6&. . 3$1.6&. . 3$1.6&.. +as' flo=s from financin, acti%ities; $ $ $ $ $ $ $ $ NE IN+"EASECDE+"EAS E IN +AS9; (&.688$ ((61(6( (&3188& (3(&3.8 (88(88% (.(1138 (6$(36. (68.8.$ P"O FO")A BALAN+E S9EES -a.( Ge are 7+annin2 to -ui+d our factor/ at Busuf2an0 in Cara/an2an0. There 7rice of cor7orate area is T3. .$>$$$ 7er shotansho. Ge are 7+annin2 to -u/ & acre at (.$$$$S6$) T3. 3>$$$>$$$. Fri.ge Tru/0( Ge ha:e met a dea+er <ho su77+ies frid2e truc3s. The/ to+d us that 7rice of a frid2e truc3 is T3. (>.$$>$$$ Fa/t!r1( Ge ha:e come to 3no< that a factor/ esta-+ishment cost is T3. 8>$$$>$$$ <ithout eAui7ments. Ma/#ieries( Ge are 7+annin2 to -u/ machines for our 7roduction <orth around T3. ($>$$$>$$$. 4rices of <hich <e ha:e co++ected from internet and attached in the A77endi;. ,vestmet( Ge are in:estin2 a++ of the 7re:ious Auarters retained earnin2 in the ne;t Auarter for a++o<in2 the continuous 2ro<th of our com7an/. Pro:forma Balance S'eet Bear ( Bear & Bear 3 Bear 8 +urrent Asset 38%&$%$ 311&88( 8.1(8(3 .&8$.8. Net Fi$ed Asset (%(88.$ $ (88&6%. $ &$$8%&( 3 &&&33&(1 In%estmentA from retained Earnin,sB 8$318(( .(61$6% .((%6&. 8(8.(88 otal Asset &8%$$38 ( &%.8861 8 &1%166. ( 3(6.811& +urrent Lia/ilities %1881(.6 1(8&6..8 ($.6$$. (&(88$6 &6 D 4 a 2 e Lon, erm Loan 18$$$$$ 18$$$$$ 18$$$$$ 18$$$$$ O=ners EHuit& ($&$$$$ $ ($&$$$$ $ ($&$$$$ $ ($&$$$$$ "etained Earnin,s 31$(81$ 66%$833 8%8$686 ($888.86 otal Lia/ilities and O=ners EHuit& &8%$$38 ( &%.8861 8 &1%166. ( 3(6.811& B"EA8:EIEN ANAL!SIS Ge ha:e considered first four /earsF time s7an for -rea3 e:en ana+/sis. The formu+a <e ha:e used for this ana+/sis is# 9rea3 6:en in sa+es T ?i;ed Cost J Contri-ution Mar2in Ratio ?i;ed cost T 9"T (8>%6.>$$$ Contri-ution Mar2in ratioT Tota+ contri-ution (Sa+es P Raria-+e cost)J Sa+es T &1>%.%>... J (.&>1.8>($& T $.(18. 9rea3 6:en in sa+es T 9"T 12345436170 So> <e <i++ start ma3in2 7rofit> after <e ha:e reached our sa+es amount of 9"T 1234543617. And <e are e;7ectin2 to reach our -rea3 e:en in 2066 /ears. "E@UI"ED INIES)EN Ge need to in:est 9"T (8>%6.>$$$ in our ?i;ed asset at the -e2innin2 of the -usiness at a time. As <e are 2ettin2 9"T &$>$$$>$$$ from eAuit/ and de-t financin2> so the rest 9"T (>&3.>$$$ <i++ remain in cash in case of emer2enc/ situations. The assets and res7ecti:e amounts to in:est are# &% D 4 a 2 e PA!:BA+8 PE"IOD As <e ha:e an in:estment of 9"T &$>$$$>$$$ of <hich eAuit/ financin2 .(= and de-t financin2 is 81=. And <e are e;7ectin2 to 7a/ the fu++ amount to our eAuit/ ho+ders as <e++ as de-t ho+ders in 2012 /ears from the da/ <e start our -usiness. SENSIIII! ANAL!SIS As ?rozen food has a mar3et 2ro<th of &8= (A77endi;) -ut for most +i3e+/ situations <e ha:e used 2ro<th rate T (.= Best +ase Scenario Ge ha:e assumed our industr/ 2ro<th rate to -e 20? 7er /ear. Then <e can achie:e our -rea3 e:en sa+es in e:en 3 /ears. Eur tota+ sa+e in on+/ 3 /ears is T3. 1173>063455 and our -rea3 e:en sa+es amount is T3. 1135>537>1. And our tota+ Cet Income for these 8 /ears is T3. 7432563414. Ghere our initia+ in:estment is on+/ T3. 1>36253000. &8 D 4 a 2 e ,itial ivestmet Categ!r1 C!st 10 Land 9"T 3>$$$>$$$ 20 Factor& 9"T 8>$$$>$$$ 70 )ac'inaries 9"T ($>$$>$$$ 40 Frid,e ruc* 9"T (>.$$>$$$ 50 Air +onditioner 9"T 1.>$$$ 20 Office furniture and stationar& 9"T %$>$$$ 60 +om(uters 9"T ($$>$$$ T!tal ,vestmet Re2uire. BDT 3&,456,777 Pro:forma Income Statement ABest caseB Bear ( Bear & Bear 3 Bear 8 Sales 3$8(%31 8 3%8.8%3 . 8.>.3(>3&6 ..3836(& A:B +osts of ,oods sold (881$83 6 &&8%.&8 ( &%>3(8>%16 33&$6(6% #ross (rofit (&3&61. 8 (818381 8 (8>&(&>.3$ &&(3%88. total o(eratin, e$(enses 8&881%3 %.8(863 %>183>.&( 1(88.%6 EBI 8$%%18. %.8(863 %>183>.&( 1(88.%6 a$ or Interest e$(ense $ $ ' $ Net Income 8$%%18. %.8(863 %183.&(.$% 1(88.%6 In the -est case <here <e are assumin2 to ha:e &$= 2ro<th rate our net cash inf+o< has decreased -/ around T3. 3.$>$$$ from T3. &%>8.6>%3& to T3. &%>8$3>8%( for a++ 8 /ears. This ma/ -e due to :er/ hi2h 2ro<th in fi;ed asset in our com7an/. Pro:forma +as' Flo= Statement ABest +aseB Bear ( Bear & Bear 3 Bear 8 +as' flo=s from o(eratin, acti%ities; 81%8&% 3 %1$%88 & ($>.$8>6( 8 (&188(&& +as' flo=s from in%estment acti%ities; $ &(%6.$ $ &>1&%>($$ 3>8&%>8&$ +as' flo=s from financin, acti%ities; $ $ ' $ NE IN+"EASECDE+"EASE IN +AS9; 81%8&% 3 .%3(38 & %>.%%>.(8 1((63$&.3 ,ere a+so <e ha:e assumed our 2ro<th rate to -e &$= and for that our retained earnin2s -ecomes on+/ T3. (&.1 mi++ion on+/ for the +ast Auarter of the 8 th /ear <hereas our initia+ in:estment is a+so around T3. (1 mi++ion. Eur in:entor/ is T3. &.( mi++ion. Pro:forma Balance S'eet ABest +aseB Bear ( Bear & Bear 3 Bear 8 +urrent Asset 86&61%1 ...&3%. 666&881 %11.8(1 Net Fi$ed Asset (%(88.$ $ (136.$$ $ &&&1&($ $ &6((11&$ In%estmentA from retained 3$1$&$8 3836((8 &368616 (8%$1& &1 D 4 a 2 e Earnin,sB otal Asset &81$.68 % &83.388 1 3(3&368 . 38&6&83( +urrent Lia/ilities 8&%%$(.1 1.(8.%.& ($18636 (3(3.63 Lon, erm Loan 18$$$$$ 18$$$$$ 18$$$$$ 18$$$$$ O=ners EHuit& ($&$$$$ $ ($&$$$$ $ ($&$$$$ $ ($&$$$$$ "etained Earnin,s 8$%%18. %8$(63( ($&&1$$ 1 (&188868 otal Lia/ilities and O=ners EHuit& &81$.68 % &83.388 1 3(3&368 . 38&6&83( 3$ D 4 a 2 e Eorst +ase Scenario Ge ha:e used our 2ro<th rate as ($=> and found that <e can achie:e our -rea3 e:en sa+es at the end of the 8th /ear. Eur tota+ sa+e in a++ 8 /ears is T3. 17>352>320> and our -rea3 e:en sa+es amount is T3.102377730>1. And our tota+ Cet Income for these 8 /ears is T3. 2534013561 <here our initia+ in:estment is T3. 1>36253000. Pro:forma Income Statement AEorst +aseB Bear ( Bear & Bear 3 Bear 8 Sales &161$88 % 3&%%&%8 & 36>(%8>1%. 3113$8$8 A:B +osts of ,oods sold (%8(8&1 & (166368 . &(>%$8>18. &31.8&8& #ross Profit ((8%6(1 . (3($1$1 % (8>861>11$ (.1%&(6& otal o(eratin, e$(enses 8(8%..( %(&8(&3 %>$6%>881 %6%8388 EBI 3%&8683 .18$1%3 %>8$&>(8( 8&1%8(8 a$ or Interest e$(ense $ $ ' $ Net Income 3%&8683 .18$1%3 %8$&(8$... 8&1%8(8 In the <orst case <here <e are assumin2 to ha:e ($= 2ro<th rate our net cash inf+o< has increased -/ around T3. 86$>$$$ from T3. &%>8.6>%3& to T3. &8>3($>6.% for a++ 8 /ears. This ma/ -e due to +ess 2ro<th in fi;ed asset in our com7an/. Pro-forma Cash Flow Statement (Worst Case) Bear ( Bear & Bear 3 Bear 8 Cash flows from operating activities: 81%.&8 3 %$%%8% & 8>881>&.( 1&8116% Cash flows from investment activities: $ 3$$$$$ 88%>6.$ 618>$6. Cash flows from financing activities: $ $ ' $ NET INCE!SE"#ECE!SE IN C!S$: 81%.&8 3 6%%%8% & %>16(>6$( 8.1.1$& ,ere a+so <e ha:e assumed our 2ro<th rate to -e ($= and for that our retained earnin2s -ecomes on+/ T3. 8.& mi++ion on+/ for the +ast Auarter of 3( D 4 a 2 e the 8 th /ear <hereas our initia+ in:estment is a+so around T3. (1 mi++ion. Eur in:entor/ is on+/ T3. (.. mi++ion. Pro-forma %alance Sheet (Worst Case) Bear ( Bear & Bear 3 Bear 8 C&rrent !sset %3($(&$ 8&8(%$6 8(&&%((.$8 8 8.3818& Net Fi'e( !sset (%(88.$ $ (%888.$ $ (%1%6(.$ (86%$&(. Investment( from retaine( Earnings) $ .(36&8( 63&(.%8 6&(&%8( Total !sset &88186& $ &686688 % &88&$83..$ . &18(%138 C&rrent )ia*ilities %611%6.8 88.8%3.3 (>$(8>&18.3 ( ((&$(&8 )ong Term )oan 18$$$$$ 18$$$$$ 18$$$$$ 18$$$$$ +wners E,&it- ($&$$$$ $ ($&$$$$ $ ($&$$$$$ ($&$$$$$ etaine( Earnings 3%&8683 .18$1%3 %8$&(8$... 3 &18(%138 Total )ia*ilities an( +wners E,&it- &88186& $ &686688 % &88&$83..$ . &18(%138 "IS8 ANAL!SIS "is* Factors Mar3et demand ,a co% isease: It is not 7rominent in our 7art of the <or+d> -ut <e ha:e to -e 7re7ared for such an out-rea3. 9esides> 9an2+adesh ha:e a+read/ e;7erienced diseases such as -ird'f+u and s<ine f+u. Threat of an/ catt+e re+ated diseases <i++ shift the demand of consumers to su-stitute 7roducts +i3e chic3en and fish. As 4remiumFs so+e 7roduct +ine is -eef oriented> so it <i++ stri3e as a hu2e -+o< to the com7an/. Su77+/ 3& D 4 a 2 e "all in local cattle meat suppliers: If su77+iers of 4remium shift to rearin2 of other farm anima+s +i3e chic3en and 2oat due to +o<er rearin2 and mana2in2 cost and hi2her mar3 u7s> 4reimium <i++ suffer from ra< materia+ shorta2e. 6conomic factors $ncrease in inflation an fall in stanar of livin': ConsumersF fa++ in 7urchasin2 7o<er <i++ come as a threat as 4remium is offerin2 hi2her :a+ue added 7rices <hich <i++ then -ecome e;7ensi:e for a si2nificant se2ment of consumers. 4otentia+ com7etitors Ne% entrants: Current com7etitors <ho are s7ecia+izin2 in chic3en 7roducts on+/ +i3e Afta- ma/ a+so introduce -eef in their 7roduct +ine and there-/ -ecome a dominant com7etitor. Ether ne< entrants due to 7otentia+ of the industr/ ma/ a+so come as a hu2e threat and +oss mar3et se2ment. E$it Plan Assessin2 a++ the different o7tions and conditions a:ai+a-+e> <e ha:e decided to 2o for Mer2er as our e;it 7+an. The com7etiti:e ad:anta2es o:er the e;istin2 com7etitors are our ne< 7roduct +ine introduction of 3e-a-s (+oca++/ 7roduced and mar3eted for the first time). In addition> the distri-ution channe+ and 7rocess are effecti:e and structured. Throu2h mer2er the com7etitors <ou+d -e -enefitted -/# An a+read/ esta-+ished and fortified distri-ution channe+. The/ <i++ -e a-+e to ca7ture a ne< se2ment in the mar3et. The/ <i++ 2ain additiona+ 7roduction faci+it/> stora2e freezers> <arehouse> de+i:er/ truc3s> etc. This <i++ aid them to 2o for e;7ansion> increase their mar2ina+ 7roduction and +o<er mar2ina+ cost. The mer2er <ou+d -enefit us -/# Ge <i++ 2et an o<nershi7 share of the sustaina-+e com7an/. In case of sa+e> -u/out> or +iAuidation of asset <e <i++ ha:e to immediate+/ e;it the mar3et. 9ut throu2h mer2er <e <i++ remain in 33 D 4 a 2 e the mar3et and o7erate under a more sustaina-+e com7an/ and en0o/in2 their 7rofits. These added com7etiti:e ad:anta2es <i++ a++o< them to earn hi2her 7rofits and increase o<nershi7 :a+ue <hich <i++ a+so -e shared -/ us. 6:en thou2h <e <i++ not recei:e immediate cash -ut the cash inf+o< o:er the future time 7eriod <i++ he+7 us 2et our return on in:estment. @ater -/ se++in2 that o<nershi7 <e <i++ a+so earn hi2her return than other o7tions. EDPANSION PLANS 4remium <i++ -e a-+e to reach -rea3'e:en at the end of the third /ear. Therefore futire 7+ans for e;7ansion inc+ude e;7ort at the end of the fourth /ear or at the -e2innin2 of the fifth /ear. Ge ha:e 7ro0ected that at the end of the fourth /ear <e <ou+d -e a-+e to ha:e retained earnin2s of a-out T3($.8 mi++ion. This <ou+d ena-+e us to enhance our 7roduct +ine and certif/ our 7roduct officia++/ under ,ACC4 and ISE> 9STI . 9esides> 4remium <i++ a+so tr/ to esta-+ish itse+f as an e;7ort -ased com7an/ 3ee7in2 in mind that it does not sacrifice the +oca+ needs. Moreo:er> 4remiumFs strate2/ <ou+d -e to thin3 2+o-a++/ and act +oca++/. The main focus for e;7ort <i++ -e in the midd+e'east countries since it is a hu2e mar3et for frozen foods. In:estment in the frozen food sector <ith ne< techno+o2/ and eAui7ment has :ast 7otentia+ for 2ro<th <ith incredi-+e o77ortunities in 9an2+adesh itse+f as <e++ as e;7ortin2 in Midd+e 6ast> 6U> Corth America and the far eastern countries. BIBLIOGRAPHY KAfta- ?arm <ins Asian @i:estoc3 Industr/ A<ard.K 1he "inancial 2&press !"ha3a) 8 Co:. &$$1> sec. ,ome 4a2e# (. 1he "inancial 2&press. Ge-. (( Mar. &$($. htt7#JJ<<<.:e;i+-7s.comJ KAfta- Grou7 of Industries.K Afta- Grou7 of Industries. C.7.> n.d. Ge-. (6 Mar. &$($. U<<<.afta-2rou7.com.-dJinde;.ht 38 D 4 a 2 e KA+ *A966R .K Al 3AB224 . C.7.> n.d. Ge-. 3 A7r. &$($. Uhtt7#JJ<<<.a+'3a-eer.comV. KContact for ISo certification>ISE 1$$(>ISE &&$$$>,ACC4>GM4 and other certifications ' CWrW/an2an0 ' Ether Ser:ices ' iso certification -an2+adesh.K "ree classifies in N5r5yan'an6, classifie as in N5r5yan'an6. C.7.> n.d. Ge-. (6 Mar. &$($. Uhtt7#JJnara/an2an0cit/.o+;.com.-dJcontact'for'iso'certification' iso'1$$('iso'&&$$$'hacc7'2m7'and'other'certifications'iid' 3%(.3&$&V. htt7#JJ<<<.food.2o:.u3Jfoodindustr/JmeatJhacc7meat7+antsJ K"air/> Meat> Catt+e> ?ish and 4ou+tr/ Industr/ X 9an2+adesh 6conomic Ce<s.K Ban'laesh 2conomic Ne%s. C.7.> n.d. Ge-. ($ Mar. &$($. Uhtt7#JJ-an2+adesheconom/.<ord7ress.comJcate2or/Jdair/' meat'catt+e'fish'and'7ou+tr/'industr/J7a2eJ3JV. K"emo2ra7hics of 9an2+adesh# ?acts> "iscussion ?orum> and 6nc/c+o7edia Artic+e.K AbsoluteAstronomy+com. C.7.> n.d. Ge-. (3 Mar. &$($. Uhtt7#JJ<<<.a-so+uteastronom/.comJto7icsJ"emo2ra7hicsYofY9 an2+adeshV. K"ha3a ' Gi3i7edia> the free enc/c+o7edia.K 7i)ipeia, the free encyclopeia. C.7.> n.d. Ge-. (3 Mar. &$($. Uhtt7#JJen.<i3i7edia.or2J<i3iJ"ha3aV. htt7#JJ<<<.mediami;.com.-d K"ha3a> 9an2+adesh# 4ros7ects A2ro'4rocessin2 Industr/.K 8imbio. C.7.> n.d. Ge-. ($ Mar. &$($. 3. D 4 a 2 e U<<<.zim-io.comJ"ha3aZ9an2+adeshJartic+esJ88J4ros7ectsZa2r oZ7rocessin2ZindustriesZnorthern K?irst ,/2ienic ,a+a+ S+au2hterhouse in 9an2+adesh X 9an2+adesh# A3 Qatra> Amar Qatra.K Ban'laesh: A) 9atra, Amar 9atra. C.7.> n.d. Ge-. (& Mar. &$($. Uhtt7#JJamar0atra.<ord7ress.comJ&$$%J$1J$8Jfirst'h/2ienic'ha+a+' s+au2hterhouse'in'-an2+adeshJV. K?rozen ?ood.K 9oard of In:estment 9an2+adesh. C.7.> n.d. Ge-. (& Mar. &$($. htt7#JJ<<<.-oi.2o:.-dJ3e/'sectorsJfrozen'foodsV. KG"4 &$$8'&$$1.K Ban'laesh Boar of Statistics. C.7.> n.d. Ge-. ($ Mar. &$($. U<<<.--s.2o:.-dJnaY<in2JG"4Y&$$8Y$1.7dfV. K,ARR6ST RIC, AGRE IC"USTRI6S @T".K ,ARR6ST RIC, AGRE IC"USTRI6S @T". C.7.> n.d. Ge-. (. Mar. &$($. Uhtt7#JJ<<<.richfood.com.-dV. KInde;.K Ban'laesh Boar of Statistics. C.7.> n.d. Ge-. (( Mar. &$($. U<<<.--s.2o:.-dJdatainde;JcensusJ-an2Yat2.7dfV. KIn:estorNs Guide.K Dha)a Stoc) 2&chan'e. C.7.> n.d. Ge-. (( Mar. &$($. U<<<.dse-d.or2Jfeu.7h7 V K*e-a- ' Gi3i7edia> the free enc/c+o7edia.K 7i)ipeia, the free encyclopeia. C.7.> n.d. Ge-. (. Mar. &$($. Uhtt7#JJen.<i3i7edia.or2J<i3iJ*e-a-V. KMeat Mar3et Research Re7orts.K #lobal $nformation, $nc+ * ,ar)et 4esearch 4eports. C.7.> n.d. Ge-. (( Mar. &$($. Uhtt7#JJ<<<.the'infosho7.comJto7icsJ?"((Yen.shtm+V. KMeat 7rocessin2 7+ant 4roducts> meat 7rocessin2 7+ant Manufacturers 5 Lua+it/> meat 7rocessin2 7+ant ?actories[ .K 0hina proucts * 36 D 4 a 2 e 0hina proucts catalo's,finin' 0hina proucts online+ . C.7.> n.d. Ge-. (. Mar. &$($. Uhtt7#JJ<<<.himfr.comJ-u/' meatY7rocessin2Y7+antJV. KSausa2es 5 Ether 4re7ared Meat 4roduct Com7an/ 4rofi+es ' Contacts> "i:isions> Su-sidiaries> 9usiness Associations> Information> Research> Ce<s.K #oliath: Business 3no%le'e :n Deman. C.7.> n.d. Ge-. (( Mar. &$($. Uhtt7#JJ2o+iath.ecne;t.comJcoms&J-ro<seYCIY&$(3'&V. KUCdata D record :ie< D Ta-+e (.3 Re+ations amon2 7roduct> income> sa:in2s> and net +endin2 a22re2ates.K UNata. C.7.> n.d. Ge-. (( Mar. &$($. Uhtt7#JJdata.un.or2J"ata.as7;\ ATincome5dTSCA5fT2rou7Ycode=3a($3V. 4ar:ez> Sohe+. K?rozen ?ood 6;7orts to Russia Resume.K The "ai+/ Star !"ha3a) 8 Co:. &$$1> sec. 9usiness# n. 7a2. The "ai+/ Star. Ge-. (. Mar. &$($. 3% D 4 a 2 e APPENDIX 38 D 4 a 2 e