The most interesting subject in this semester is Food Process Design where include topic like costing, plan set up and last but not least, how to be an Entrepreneur! I never imagine i will be an entrepreneur one day, coz i am so coward to take a big step, used to be follower long time dy. However, after this course, i start to admire and respect those local entrepreneur, regardless succeed or failed.
By doing business plan, we learn all the things from tip to toe for plant set up. A lot of calculations involved.Firstly, we need to calculate the capital cost, then production cost, then estimate the profit tat u wan to gain, from that you can calculate the transfer price of your product (ex-factory price), then estimate the margin of the retailer and wholesaler,finally you can get the market price of your product.Next, u need to calculate ur payback period, internal rate of return, and turn-over ratio,etc etc etc...This is just a very simple flow of the calculation, and it is only one part of business plan. U still need to have ur company profile, product description, advantages and selling point of ur product, consumer target, market target, organization chart of ur company.It is far more complicated tat u and i can imagine...and it takes a long time to do it before u really start ur business.Besides, a good plan strategy is very critical in designing a business plan, because "If you fail to plan, you plan to fail". And..if u fail to plan, u cant get loan from bank, then u will not have money to invest and buy equipments for ur production run...
So? Wan to be a entrepreneur and start ur own business? Better think twice before u really engage into it.
