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Ginseng Business Plan
Ginseng Growers Company
Business Overview
Ginseng Growers Company was incorporated May 21, 2012. The company is wholly owned and operated by John Doe. The company owns twenty acres of farmland used to grow North American ginseng, also known as Panax quinquefolium. The ginseng is to be planted in September 2012, as ginseng must grow a minimum of four years prior to being harvested, product sales will not begin until the year 2016.
Vision and Mission Statement
Ginseng Growers Company seeks to establish and maintain a position among North American ginseng growers as a provider of raw ginseng products of high quality and further intends to become a member of the North American B.C. Ginseng Farmer's Cooperative and sell its products on the Asian market.
Objectives
The primary objectives of the company over the first three years of business operations include:
(1) Obtain memberships in the North American Ginseng Grower's Farmer's Cooperative in order to establish distribution and export channels in addition to making the provision of updated information on new technologies and other factors impacting ginseng producers.
(2) Buy seeds and plant crop.
(3) The existing ginseng crop will be maintained until the year 2012. Secured operating loan of $32,000 will be used to cover operating expenses in years 2013, 2014 and 2015.
(4) Sell the harvested crop to a ginseng broker.
Location and Facilities
The company plans to purchase 20 acres of land in the Appalachia foothills area of Tennessee....
Four acres will be used for planting and the remaining acre houses the planting equipment and facilities for maintaining and drying the crop.
Description of Products and Services
Ginseng is "a fleshy rooted, herbaceous perennial plant with five whorled leaves, or leaves arranged in a circle around the stem, on mature plants. The root texture is similar to that of parsnip. When mature, ginseng roots are approximately 30 centimeters long. After the ginseng is harvested, the root can be dried and is then used whole, in powder form or in the form of an extract. The leaves can be used for tea. Ginseng root is also used in products that include soup, candies, tea, and in capsule and tablet form.
Key Features of the Products and Services
American ginseng is slightly different from Asian ginseng and grows in a shady environment requiring at least 70% shade cover for effective growth. Ginseng requires four years to reach maturity although ginseng can be harvested after the second and fourth years of growth. Ginseng was first introduced into the eastern United States in 1982.
Production of Products
Ginseng grows best on a slight slope or in raised beds that have proper drainage of the soil and grows best in at least 30 centimeters of nutrient rich top soil. The best root is produced in sandy soils or silt. The company has had a local agricultural consulting firm test the soil and conduct plant analysis on the property, which indicated that the site is excellent for ginseng farming. The farm will mimic the plant's natural habitat or that of a thick forest canopy through use…
References
Growing American Ginseng in Ohio (2004) Ohio State University Fact Sheet. School of Natural Resources. F-56-04. Retrieved from: http://ohioline.osu.edu/for-fact/0056.html
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