$tarting a Business... Is It for You? Entrepreneurship, Value Retained & Louisiana Strawberries Presented by: Scuddy J. LeBlanc & Deborah C. Cross LSU AgCenter – Community Economic Development

Agreement The LSU AgCenter, through its Department of Ag Economics and Agribusiness and its Cooperative Extension Service, will investigate ways of strengthening the viability of the Louisiana strawberry industry, and it will conduct educational activities to increase the awareness of and appreciation for the local strawberries among consumers.

Agreement (Continued) The LSU AgCenter will conduct:  An entrepreneurship workshop  A strawberry tour for the media  Research on the merchandising of Louisiana strawberries in retail outlets

Strawberry Media Tour 2003 Ponchatoula High School William Fletcher Farm Eric Morrow Farm Ponchatoula, Louisiana

Testimony on the Media Tour “The media tour is a true success story because of the partnerships that have been fostered with the AgCenter, the Strawberry Festival and the industry, thank you for your contribution.” -Dr. Pamela Hodson, Southeast Region Director LSU AgCenter

Media Coverage of the 2003 Strawberry Tour  Times Picayune Food Section feature story  Louisiana Farm Bureau News  news article  television show  radio show  Local cable television  The Hammond Daily Star – 2 news articles  The Ponchatoula Enterprise – news article  Louisiana Network News - 2 radio interviews  LSU AgCenter News - photo & news article

Strawberry Media Tour 2004 Springfield High School Hammond Research Station

Media Coverage of the 2003 Strawberry Tour  WWL-TV television news show  Louisiana Network News radio network  The Hammond Daily Star news article  The Livingston Times news article  Times Picayune Food Section feature story

Value-Retained Ag Entrepreneurship Paper Scuddy J. LeBlanc Deborah C. Cross Community Economic Development

Why Do Farmers Need Value- Retained Options?  Farmers received less than 21% of the nation’s retail food dollars in  In spite of the farmers receiving less for their products, food prices are rising.  Retail food prices are more costly because of rising costs of labor, transportation, packaging, food services, and marketing.

Definition Value-added entrepreneurship includes increasing the value of farm products through further packaging, through marketing techniques, as well as increasing the value of agricultural products through further processing. -University of Tennessee Agricultural Extension Service

Do Farmers Need Value- Retained? “Value-retained” activities provide ways for farmers to receive more income from their products that is normally captured after the commodity or product leaves the farm.

$tarting a Business... Is It for You? Entrepreneurship Workshop

Across our country, citizens are reaching out to grasp their piece of the American Dream... and the opportunity to be their own boss….

The potential business owners of the future come from all walks of life, and have backgrounds as diversified as their faces. $ Some live in rural areas… $ Some live in the suburbs… $ Others live in large cities…

However, all business owners have three things in common… $ INDEPENDENCE $ INITIATIVE $ IDEAS…

They also fear the same things…

Source: 501 small business owners surveyed by USA Today – September 2003 Small Business owners say their planning is most vulnerable in the following areas...

Starting a Business… Is it for You? $ Designed to help micro enterprises and home based businesses to get a start. $ Show the importance of a Businesses Plan. $ To help the Entrepreneur to think through the process. $ To get them ready to work with their local SBA.

The Program Includes… $ Deciding to Start a Business $ Organizing Your Time $ Types of Businesses $ Evaluating Business Ideas $ Web-based, Global and Franchise Businesses $ The Business Plan $ Finding Financial Resources

Deciding to Start a Business $ What attracts people to start a business? $ Why you're interested in starting a business? $ What makes an Entrepreneur? $ How your family relates to the business? $ You’re personal commitment? $ The pros and cons of owning a business. $ What personal talents and skills do you have?

Organizing Your Time $ Investigate your personal decision- making style. $ How to improve your ability to balance choices? $ What are your time wasters? $ Do you procrastinate? $ How do you handle a crisis? $ Special time strategies when working from home.

Types of Businesses Their advantages and disadvantages $ Sole Proprietorship $ Partnership $ Corporation $ Protecting your ideas...  Copyrights  Patents  Trademarks

Evaluating Business Ideas $ Manufacturing $ Home-based business $ Marketing or sales outlet $ Buying an established business

Web-based, Global and Franchised $ Internet/worldwide web $ Benefits $ Making money on the Internet $ User friendly Web site $ Promoting the Web site- “ Key ” words $ Strategies for small firms as a global enterprise $ Franchise types, advantages and limitations

The Business Plan $ What is it? $ Why do you need one? $ How much planning is necessary? $ Serves as a tool for raising capital. $ Use as a managing tool. $ What is an “effective business” plan?

Finding Financial Resources $ The 5 Cs of “Credit” $ Where will the money come from? $ How much will you need? $ What kind of collateral will you need? $ Financial information required for a loan $ SBA Loans $ Short-term business loans $ Other types of business loans

Other Topics Covered in Program… $ The Big Picture  Creating a financial plan $ Customer Service $ Exit Strategies $ Case Studies

For More Information Please Contact: Deborah C. Cross Area Agent- Community Economic Development LSU AgCenter Phone: 225/

Research Interim Report May 12, 2004 Contact: Dr. Roger A. Hinson

Cooperators: LSU Department of Ag Economics & Agribusiness Ponchatoula Strawberry Festival, Inc. Ponchatoula High School Springfield High Schools Hammond Research Station Tangipahoa Economic Development Southeastern La. University SBDC