Business Plan Analysis: Importing Jerk Sauce from Jamaica to U.S.

This report assesses the viability of importing jerk sauce from Jamaica to the U.S., focusing on investment potential and technical evaluations. It highlights Jamaica's significant export earnings from sauces and examines the business concept's feasibility, considering the availability of raw materials and the rising demand for organic products. The analysis includes a review of a business plan, noting its strengths in identifying key scopes in the sauce exporting business and weaknesses such as the lack of competition analysis and value chain analysis. Despite these shortcomings, the report concludes that the business plan is largely complete and the venture is highly viable and profitable, making it a valuable model for entrepreneurs. Desklib provides similar past papers and solved assignments for students.

Importing Jerk Sauce from Jamaica
to the U.S.
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Table of Contents
1.0 Introduction................................................................................................................................3
2.0 Business Concept Viability for investment...............................................................................3
3.0 Technically evaluation of Complete Plan..................................................................................4
4.0 Conclusion.................................................................................................................................5
5.0 Reference Lists..........................................................................................................................5
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1.0 Introduction
Jamaica exports $1.6 billion in sauces, which overtakes its earnings compared to coffee, non-
alcoholic drinks and other baked products (Gordon, 2015). The country has high income source
from export earnings, which also impacts its balance of payments. The scope of current analysis
deals with Spur Tree Spice in Jamaica which provides the country with 80% exports. The
analysis examines viability of the business in order to consider for investments, along with
processes for export consideration for the Company.
2.0 Business Concept Viability for investment
Export business constitutes a proportion of earnings for businesses based in Jamaica. The
country rich in various herbs and spices can easily source raw materials for the product (Gordon
& Williams, 2016). Moreover rise in consciousness related to organic products can easily be
manufactured by the Company and supplied to various parts of the world. The country being
abundant in natural produce has immense potential to produce and manufacture organic fresh
sauces and condiments. From analysis of the business plan’s financial statements, it can be seen
that projected profits from the business is extremely high and rising from one year to the other.
Trade and other regulatory measures in order to establish the business can easily be obtained and
overcome by means of licensing agreements. Once an entrepreneur plans to establish the
business within this type of market then the only hindrance that he has to face is in obtaining the
necessary trade licenses and then obtaining funds to set up factory for the manufacturing
processes. It can easily be understood that it is a labor and capital intensive business which has
capability to yield high returns on investments, meaning the entrepreneur merely has to do
efforts in obtaining funds at lower costs. In case the entrepreneur is able to procure funds at low
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costs then he will easily be able to reap maximum benefits from the business. One aspect of the
business is in making tie-ups with various companies and countries in supplying the sauces.
Once the purchasers of the product are identified then the business is bound to become more
viable and profitable in nature. This implies that once the business’ value chain, marketing and
other processes are established then it can function as a rather competitive one delivering greater
amounts of returns. Lack of opportunities in business and prevalence of this profitable venture
ascertains that entrepreneurs can easily opt for this mode of venture and gain profitability from
the same (Meléndez & Uribe, 2012).
3.0 Technically evaluation of Complete Plan
The business plan evaluated in the earlier report identifies key scopes that are present in sauce
exporting business. Moreover, regulations related to the business of exporting food products are
also undertaken in the evaluation (Ennis, 2009). The report has also successfully been able to
analyse the key external factors along with the Company’s internal analysis by conducting
SWOT. Then the business plan goes on to describing the product manufacturing, marketing,
distribution and financing aspects of the business. The business plan described here is almost
complete however; the report has not been able to include competition analysis in export market.
Competition analysis is a major part for any type of business plan in order to understand situation
that is prevalent within the industry (Wilson, 2018). Competition analysis helps the business
form suitable strategic move for establishing the business. Moreover, the strategic choices that
have been made by the Company meaning whether cost leadership, differentiation or focus has
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not been selected or established by the Company. The business plan progresses with very little
number of references to correlate with data and information that has been included in the project.
In financial analysis of the business, there is no depiction of break-even point. A value chain
analysis for the project has not been undertaken in an extensive manner which forms basic
process for any type of manufacturing or production businesses. Therefore, though the business
has encompassed major steps only lacks a few steps, incorporating which can allow completing
the business plan in a more rigorous process.
4.0 Conclusion
It can be concluded that the business plan undertaken for Jamaican Sauces Company is a
complete one and only lacks a few steps and processes which can easily be accommodated. The
business is highly viable and profitable which is reflected from its financial statements as well.
Thus, this proves that the business can be used as a sample for other entrepreneurs as well, who
can adopt them for their businesses.
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5.0 Reference Lists
Ennis, G. (2009). Analysis of the Jamaican Fresh Agricultural Produce Industry.
Gordon, A. (Ed.). (2015). Food Safety and Quality Systems in Developing Countries: Volume
One: Export Challenges and Implementation Strategies. Academic Press.
Gordon, A., & Williams, R. (2016). Case study: formula safe foods—sauces. In Food Safety and
Quality Systems in Developing Countries, Volume 2 (pp. 117-148).
Meléndez, M., & Uribe, M. J. (2012). International product fragmentation and the insertion of
Latin America and the Caribbean in global production networks: Colombian case
studies (No. IDB-WP-374). IDB Working Paper Series.
Wilson, S. (2018). Assessing export competitiveness of food manufacturers in
SIDS. Competitiveness Review: An International Business Journal, (just-accepted), 00-
00.
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