Drafting the alternative enterprise plan for your property, committing to the budding business Learning Module #6 March 21 th 2012 Presenter: Mr. Adam Tullos Mississippi State University Dept. of Wildlife Fisheries & Aquaculture

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Outline Delineating Resource Value Creating an Enterprise Activity Plan Understanding Quality vs. Quantitiy Calculating Total Revenue Costs of Operation Total Income Taking the last step

Determining Resource Value What works here? Natural resource inventory Compatibility Sustainability Historical uses

Listing Resources Lodge Barn & Storage areas Hardwood Timber Flooded Marshland Extensive Field Roads 1 Mile of River Frontage Livestock Production Row-crop Production 20 acre lake 1 Mile of Slough

Mapping my Enterprises Horse Trails Black Roads Hunting Areas Purple Polygons

Area Opportunities Allowable Activities Trail Riding Horses Bikes ATV’s Hunting Waterfowl Deer Turkey

Complete Enterprise list Agi-tainment Hay Rides Petting Zoo Farm Tours Wildlife Viewing Hunting Camping Trails Lodging Canoeing Angling

Enterprise Activity Plan Remember to Plan Vision Objectives Range of Activities & Services Price for each How many people can you accommodate? What will be the maximum capacity?

Maximizing Value How many Activities can you accommodate? Will you maximize Quantity or Quality? Customer Profile What they want

Quantity VS. Quality More folks means less individual satisfaction Don’t diminish performance The customer is always right Remember Sustainability first

Total Revenue Foundation Target Market Promotion Advertising Uniqueness Seasonality Talents & Location

Revenue Components Programming Interpretation Operating Schedule Range of Activities Capacity

Calculate Total Revenue Revenue Streams Calendar of Revenue When it will occur? Number of Sales Per Acre Per Activity Per Event Total Sales per year

Types of Enterprise Costs Direct Food Labor Guide/Manpower Supplies Fuel

Enterprise Costs Indirect Advertising Equipment Maintenance Insurance Management Income tax Professional Legal

Projected Income Revenue – Direct Costs – Indirect Costs (1yr.) = Income

Income Potential Income by month Income by Quarter Annual Income JanFebMarAprMayJuneJulyAugSeptOctNovDec Revenue Direct Cost Indirect Cost Total

Next Steps Determine tasks to be completed List resource people who can help Determine when these items can be completed Date

Committing To Development Do you have a map of the property? Can you determine what you have? Will you decide if an enterprise fits your objective? Are these enterprises valuable? Are you willing to get started?

Short Range What enterprises will you implement this year Can you get them started? What opportunities will you consider during the first 5 years

Long Range Looking 5 years out what additional opportunities can you envision? How will you reinvest in the operations you being with Will later enterprise opportunities be compatible with property and venues

Final Thoughts Please contact us for additional information We want to thank you for attending this webinar Let us know if you would like to see more about enterprise development in the future Allow us to assist you and your local Extension Professionals with NRE’s

T. Adam Tullos Verona Research and Extension Center Department of Wildlife, Fisheries & Aquaculture Mississippi State University My Contact Information