Honey Bee Farm Business Plan
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We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Honey Bee Farms.
Below is a template to help you create each section of your Honey Bee Farm business plan.
Executive Summary
Business Overview
Sweet Honey Bee Farm is a startup honey bee business located in Churchtown, Ohio. The company is founded by Tony and Galene Hausen, farm owners and former employees of a large honey bee corporation that mined honey from bee farms. Tony and Galene have gained a great deal of experience after ten years as employees and now want to establish this startup honey bee farm on their own farm property to continue harvesting superior honey from the bees that have been on their family farm for over one hundred years.
Sweet Honey Bee Farm will provide a variety of honeys and honey-based products, each designed to be sold at wholesale or retail to a variety of customers who appreciate the wholesome goodness of natural organic honey. The Sweet Bee Honey Farm will concentrate on offering the finest honey worthy of the most expensive retail sales.
Product Offering
The following are the products that Sweet Honey Bee Farm will provide:
- Pure honey, including wildflower, clover, orange blossom, and more. The honey is raw and unprocessed, free from additives or preservatives,
- Honey on the Comb: for those who appreciate the raw beauty of honeycomb, they will offer comb honey, where the honey remains in its natural beeswax comb, untouched by human processing,
- Infused honey that includes a selection of flavored honey varieties, infused with natural ingredients like lavender, cinnamon, or ginger. Infusions create a delightful twist to the traditional honey taste.
- Beeswax products, including candles, lip balms, and skincare items
Customer Focus
Sweet Honey Bee Farm will target retail customers at their Sweet Honey Bee Shop. In addition, they will target online customers via their fully-developed website. They will target grocery buyers and specialty gourmet buyers within their chosen industries.
Management Team
Tony and Galene Hausen will be the co-owners of the company. Galene will oversee all staff and manage client relations. Tony will work on product development and business expansion. They have spent the past year recruiting Sarah Thompson, their former administrative assistant, who will take on the role of Office Manager. They have also recruited Greg Naynold, the former farm manager at their employer company. He will now become the Senior Farm Manager.
Tony and Galene Hausen both share over ten years of experience in the keeping of honey bees and the harvesting of their honey. They worked as the Production Manager and Human Resources Manager respectively, where they honed their craft and made extensive contacts with customers and clients in the wholesale industries related to honey.
Sarah Thompson is a graduate of the University of Ohio with a bachelor’s degree in administration. She worked for the former employer as an administrative assistant for two years, where her organizational skills won the praise of all who knew her. Sarah will be the Office Manager who will manage the office administration, client files, and accounts payable.
Greg Maynold has been a farm manager and beekeeper for over twenty years. He will experienced in all facets of beekeeping and worked with Tony and Galene for ten years. His skill level is unparalleled in beekeeping and farming. He will become the Senior Farm Manager, overseeing all honey bee production and processing, as well as overseeing the fields and crops produced on the farm.
Success Factors
Sweet Honey Bee Farm will be able to achieve success by offering the following competitive advantages:
- Friendly, knowledgeable, and highly-qualified team of Sweet Honey Bee Farm
- Comprehensive menu of organic products, sourced directly from the farm.
- Sweet Honey Bee Farm will establish a retail shop, offering one-of-a-kind honey products and other organic foods.
- Sweet Honey Bee Farm offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.
Download the Honey Bee Farm business plan template (including a customizable financial model) to your computer here <–
Financial Highlights
Sweet Honey Bee Farm is seeking $200,000 in debt financing to launch its Sweet Honey Bee Farm. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
The following graph outlines the financial projections for Sweet Honey Bee Farm.
Company Overview
Who is Sweet Honey Bee Farm?
Sweet Honey Bee Farm is a newly established, full-service honey bee farm in Churchtown, Ohio. Sweet Honey Bee Farm will provide the most pure, organic honeys and honey products in the country. In addition, Sweet Honey Bee Farm will actively seek online consumers and larger contracts with grocery chain and specialty gourmet stores. Sweet Honey Bee Farm will provide a comprehensive menu of honey products for any consumer to utilize. Their full-service approach includes a comprehensive menu of delicious, custom honey products.
Sweet Honey Bee Farm will be able to serve consumers throughout the country via their website and farm business. The team of professionals are highly qualified and experienced in honey bee management and harvesting of honey. Sweet Honey Bee Farm removes all headaches and issues of finding pure, organic honey and honey products, while delivering the best customer service.
Sweet Honey Bee Farm History
Sweet Honey Bee Farm is a startup honey bee business located in Churchtown, Ohio. The company is founded by Tony and Galene Hausen, farm owners and former employees of a large honey bee corporation that mined honey from bee farms. Tony and Galene have gained a great deal of experience after ten years as employees and now want to establish this startup honey bee farm on their own farm property to continue harvesting superior honey from the bees that have been on their family farm for over one hundred years.
Since incorporation, Sweet Honey Bee Farm has achieved the following milestones:
- Registered Sweet Honey Bee Farm, LLC to transact business in the state of Ohio.
- Has a contract in place for a 10,000 square foot office near the Sweet Honey Bee Farm
- Reached out to numerous contacts to purchase honey from the Sweet Honey Bee Farm
- Began recruiting a staff of six and office personnel to work at the Sweet Honey Bee Farm
Sweet Honey Bee Farm Products
The following will be the services Sweet Honey Bee Farm will provide:
- Pure honey, including wildflower, clover, orange blossom, and more. The honey is raw and unprocessed, free from additives or preservatives,
- Honey on the Comb: for those who appreciate the raw beauty of honeycomb, they will offer comb honey, where the honey remains in its natural beeswax comb, untouched by human processing,
- Infused honey that includes a selection of flavored honey varieties, infused with natural ingredients like lavender, cinnamon, or ginger. Infusions create a delightful twist to the traditional honey taste.
- Beeswax products, including candles, lip balms, and skincare items
Industry Analysis
The honey bee farming industry is expected to grow over the next five years to over $739 billion.
The growth will be driven by an increased awareness of the importance of honey bees, particularly as pollinators in agriculture. The growth will be driven, as a result of this awareness, to a heightened consumer outreach toward honey and honey bee farming methods. The growth of the industry will also be led by the growing demand for naturally healthful food products. The costs will likely be reduced as more honey bee farms are established, which may cause the increased growth to be slightly lower. Additional costs that will be reduced will be those for housing and maintaining honey bee boxes due to technological advances that will lead to greater outcomes using less manpower and creative tech production methods.
Download the Honey Bee Farm business plan template (including a customizable financial model) to your computer here <–
Customer Analysis
Demographic Profile of Target Market
Sweet Honey Bee Farm will target retail customers in the greater Ohio state at their Sweet Honey Bee Farm Shop. In addition, they will target online customers nationally via their fully-developed website. They will target grocery buyers and specialty gourmet buyers within their chosen industries.
The precise demographics for Sweet Honey Bee Farm are:
| Total | Percent | |
|---|---|---|
| Total population | 1,680,988 | 100% |
| Male | 838,675 | 49.9% |
| Female | 842,313 | 50.1% |
| 20 to 24 years | 114,872 | 6.8% |
| 25 to 34 years | 273,588 | 16.3% |
| 35 to 44 years | 235,946 | 14.0% |
| 45 to 54 years | 210,256 | 12.5% |
| 55 to 59 years | 105,057 | 6.2% |
| 60 to 64 years | 87,484 | 5.2% |
| 65 to 74 years | 116,878 | 7.0% |
| 75 to 84 years | 52,524 | 3.1% |
Customer Segmentation
Sweet Honey Bee Farm will primarily target the following customer profiles:
- Retail customers via the Sweet Honey Bee Farm Shop
- National online customers via the website
- Wholesale buyers of grocery chains
- Wholesale buyers of specialty gourmet stores
Competitive Analysis
Direct and Indirect Competitors
Sweet Honey Bee Farm will face competition from other companies with similar business profiles. A description of each competitor company is below.
Purely Perfect Honey Company
Purely Perfect Honey Company is located near Cincinnati, Ohio. The company was established in 1990 by Hank Ramey as a small shop attached to his farm. The development of a greater interest in honey bees and the products they produce led to a larger audience for the Purely Perfect Honey Company. In 2015, the company began to change their processes and systems to claim they had “Eco-Friendly Practices.” To conform to this title, they made a commitment to sustainable and eco-friendly practices, including water conservation and waste reduction. The current farms that harvest honey use no harmful pesticides or chemicals that could endanger the honey bees or the environment. Biodiversity is heavily enforced and practiced at the Purely Perfect Honey Company and the farms that contribute honey to the company are inspected quarterly for their harvesting of honey and the practices employed on each farm.
Gradley’s Gourmet Shops
Gradley’s Gourmet Shops are a chain of ten stores that sell specialty gourmet foods and food products. They produce honey from supplier farms and sell the honey as “pure and organic.” The chain sells honey that has been flavored with various infusions and the stores sell honey and butter soaps, herbal honey teas, honeycomb in glass jars, and honey-baked breads. These specialty gourmet items are priced on the high end of the spectrum due to retailer costs and the nature of the ingredients used to prepare and package the honey-based goods.
Gradley’s Gourmet Shops was founded by Teresa Gradley and her father, Mason Gradley in 1999. As a team, they sourced farm products, including produce, that are fresh, nutritious and comply with environmentally-sustainable farming practices. Gradley’s has been a chain that is growing due to increased awareness of nature foods and the way food is processed; however, the stores in the chain are small and some face closure as a result of poor marketing practices and inexperienced staff members.
Thacker Bee Farm
Thacker Bee Farm was established in 2019 by Jamie Lawson. While not technically a farm, Jamie chose to name her online retail company after a family home headquartered in Churchtown, Ohio. The website featuring honey bee products and honey also includes the brand positioning as “natural products” of all kinds. Grocery items, soaps, medicinals and herbal supplements are offered to online customers. Shipping of products and food is done by the store staff.
Although claiming the name, “organic and sustainable,” Thacker Bee Farm is selling products from farms around the country and using products from various bee genuses. Some of the natural products, including the herbal supplements are mass produced and bottled under the Thacker Bee Farm name; however, they are not generated at a farm. Some products are purchased from China and resold under the Thacker Bee Farm label.
Download the Honey Bee Farm business plan template (including a customizable financial model) to your computer here <–
Competitive Advantage
Sweet Honey Bee Farm will be able to offer the following advantages over their competition:
- Friendly, knowledgeable, and highly-qualified team of Sweet Honey Bee Farm
- Comprehensive menu of organic products, sourced directly from the farm.
- Sweet Honey Bee Farm will establish a retail shop, offering one-of-a-kind honey products and other organic foods.
- Sweet Honey Bee Farm offers the best pricing in town. Their pricing structure is the most cost effective compared to the competition.
Marketing Plan
Brand & Value Proposition
Sweet Honey Bee Farm will offer the unique value proposition to its clientele:
- Highly-qualified team of skilled employees who are able to harvest honey successfully and then package and sell honey and honey-based products to consumers either in person or online.
- Honey infusions, flavored honeys, honey soaps, and other honey products guarantee authenticity, as all products are made on the Sweet Honey Bee Farm.
- Unbeatable pricing to its clients; they will offer the lowest pricing in the city.
Promotions Strategy
The promotions strategy for Sweet Honey Bee Farm is as follows:
Word of Mouth/Referrals
The owners of Sweet Honey Bee Farm have built up an extensive list of contacts over the years by providing exceptional service and expertise for their customers. The customers have already indicated they will follow them to the new company and help spread the word of Sweet Honey Bee Farm.
Professional Associations and Networking
Tony and Galene Hausen will attend community association meetings, trade group events, and trade shows to encounter opportunities to grow Sweet Honey Bee Farm. This includes industry sector shows where they can source products and sell their own to buyers.
Print Advertising
Two weeks prior to opening their store, a direct mail piece will be sent to all residents of Churchtown, Ohio, inviting them to attend the launch. Included in the offer will be discount pricing to be given during the first month of business.
Website/SEO Marketing
Sweet Honey Bee Farm will fully utilize their website. The website will be well organized, informative, and list all the products that Sweet Honey Bee Farm provides. In addition, buttons will be employed for purchases and shipping instructions will be included with each order made. Automated processing will email confirmations to customers for products ordered. The website will list their contact information and tell the back story of their farm and how they’ve developed it. The website will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “organic honey” or “honey farm near me,” Sweet Honey Bee Farm will be listed at the top of the search results.
Pricing
The pricing of Sweet Honey Bee Farm will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.
Operations Plan
The following will be the operations plan for Sweet Honey Bee Farm.
Operation Functions:
- Tony and Galene Hausen will be the co-owners of the company. Galene will oversee all staff and manage client relations. Tony will work on product development and business expansion. They have spent the past year recruiting the following staff:
- Sarah Thompson will be the Office Manager who will manage the office administration, client files, and accounts payable.
- Greg Maynold will be the Senior Farm Manager, overseeing all honey bee production and processing, as well as overseeing the fields and crops produced on the farm.
Download the Honey Bee Farm business plan template (including a customizable financial model) to your computer here <–
Milestones:
Sweet Honey Bee Farm will have the following milestones completed in the next six months.
- 5/1/202X – Finalize contract to lease office space
- 5/15/202X – Finalize personnel and staff employment contracts for the Sweet Honey Bee Farm
- 6/1/202X – Finalize contracts for Sweet Honey Bee Farm clients
- 6/15/202X – Begin networking at industry events
- 6/22/202X – Begin moving into Sweet Honey Bee Farm office
- 7/1/202X – Sweet Honey Bee Farm opens its doors for business
Management Team
Tony and Galene Hausen will be the co-owners of the company. Galene will oversee all staff and manage client relations. Tony will work on product development and business expansion. They have spent the past year recruiting Sarah Thompson, their former administrative assistant, who will take on the role of Office Manager. They have also recruited Greg Naynold, the former farm manager at their employer company. He will now become the Senior Farm Manager.
Tony and Galene Hausen both share over ten years of experience in the keeping of honey bees and the harvesting of their honey. They worked as the Production Manager and Human Resources Manager respectively, where they honed their craft and made extensive contacts with customers and clients in the wholesale industries related to honey.
Sarah Thompson is a graduate of the University of Ohio with a bachelor’s degree in administration. She worked for the former employer as an administrative assistant for two years, where her organizational skills won the praise of all who knew her. Sarah will be the Office Manager who will manage the office administration, client files, and accounts payable.
Greg Maynold has been a farm manager and beekeeper for over twenty years. He will experienced in all facets of beekeeping and worked with Tony and Galene for ten years. His skill level is unparalleled in beekeeping and farming. He will become the Senior Farm Manager, overseeing all honey bee production and processing, as well as overseeing the fields and crops produced on the farm.
Financial Plan
Key Revenue & Costs
The revenue drivers for Sweet Honey Bee Farm are the fees they will charge to customers and wholesale clients for their services.
The cost drivers will be the overhead costs required in order to staff Sweet Honey Bee Farm. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.
Funding Requirements and Use of Funds
Sweet Honey Bee Farm is seeking $200,000 in debt financing to launch its honey bee farm. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:
- Office space build-out: $20,000
- Office equipment, supplies, and materials: $10,000
- Three months of overhead expenses (payroll, rent, utilities): $150,000
- Marketing costs: $10,000
- Working capital: $10,000
Download the Honey Bee Farm business plan template (including a customizable financial model) to your computer here <–
Key Assumptions
The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
- Number of Customers and Clients Per Month: 180
- Average Revenue per Month: $28,000
- Office Lease per Year: $100,000
Financial Projections
Income Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| Revenues | ||||||
| Total Revenues | $360,000 | $793,728 | $875,006 | $964,606 | $1,063,382 | |
| Expenses & Costs | ||||||
| Cost of goods sold | $64,800 | $142,871 | $157,501 | $173,629 | $191,409 | |
| Lease | $50,000 | $51,250 | $52,531 | $53,845 | $55,191 | |
| Marketing | $10,000 | $8,000 | $8,000 | $8,000 | $8,000 | |
| Salaries | $157,015 | $214,030 | $235,968 | $247,766 | $260,155 | |
| Initial expenditure | $10,000 | $0 | $0 | $0 | $0 | |
| Total Expenses & Costs | $291,815 | $416,151 | $454,000 | $483,240 | $514,754 | |
| EBITDA | $68,185 | $377,577 | $421,005 | $481,366 | $548,628 | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| EBIT | $41,025 | $350,417 | $393,845 | $454,206 | $521,468 | |
| Interest | $23,462 | $20,529 | $17,596 | $14,664 | $11,731 | |
| PRETAX INCOME | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Use of Net Operating Loss | $0 | $0 | $0 | $0 | $0 | |
| Taxable Income | $17,563 | $329,888 | $376,249 | $439,543 | $509,737 | |
| Income Tax Expense | $6,147 | $115,461 | $131,687 | $153,840 | $178,408 | |
| NET INCOME | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 |
Balance Sheet
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Cash | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 | |
| Accounts receivable | $0 | $0 | $0 | $0 | $0 | |
| Inventory | $30,000 | $33,072 | $36,459 | $40,192 | $44,308 | |
| Total Current Assets | $184,257 | $381,832 | $609,654 | $878,742 | $1,193,594 | |
| Fixed assets | $180,950 | $180,950 | $180,950 | $180,950 | $180,950 | |
| Depreciation | $27,160 | $54,320 | $81,480 | $108,640 | $135,800 | |
| Net fixed assets | $153,790 | $126,630 | $99,470 | $72,310 | $45,150 | |
| TOTAL ASSETS | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 | |
| LIABILITIES & EQUITY | ||||||
| Debt | $315,831 | $270,713 | $225,594 | $180,475 | $135,356 | |
| Accounts payable | $10,800 | $11,906 | $13,125 | $14,469 | $15,951 | |
| Total Liability | $326,631 | $282,618 | $238,719 | $194,944 | $151,307 | |
| Share Capital | $0 | $0 | $0 | $0 | $0 | |
| Retained earnings | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| Total Equity | $11,416 | $225,843 | $470,405 | $756,108 | $1,087,437 | |
| TOTAL LIABILITIES & EQUITY | $338,047 | $508,462 | $709,124 | $951,052 | $1,238,744 |
Cash Flow Statement
| FY 1 | FY 2 | FY 3 | FY 4 | FY 5 | ||
|---|---|---|---|---|---|---|
| CASH FLOW FROM OPERATIONS | ||||||
| Net Income (Loss) | $11,416 | $214,427 | $244,562 | $285,703 | $331,329 | |
| Change in working capital | ($19,200) | ($1,966) | ($2,167) | ($2,389) | ($2,634) | |
| Depreciation | $27,160 | $27,160 | $27,160 | $27,160 | $27,160 | |
| Net Cash Flow from Operations | $19,376 | $239,621 | $269,554 | $310,473 | $355,855 | |
| CASH FLOW FROM INVESTMENTS | ||||||
| Investment | ($180,950) | $0 | $0 | $0 | $0 | |
| Net Cash Flow from Investments | ($180,950) | $0 | $0 | $0 | $0 | |
| CASH FLOW FROM FINANCING | ||||||
| Cash from equity | $0 | $0 | $0 | $0 | $0 | |
| Cash from debt | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow from Financing | $315,831 | ($45,119) | ($45,119) | ($45,119) | ($45,119) | |
| Net Cash Flow | $154,257 | $194,502 | $224,436 | $265,355 | $310,736 | |
| Cash at Beginning of Period | $0 | $154,257 | $348,760 | $573,195 | $838,550 | |
| Cash at End of Period | $154,257 | $348,760 | $573,195 | $838,550 | $1,149,286 |
Honey Bee Farm Business Plan FAQs
What Is a Honey Bee Farm Business Plan?
A honey bee farm business plan is a plan to start and/or grow your honey bee farm business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
What are the Main Types of Honey Bee Farm Businesses?
There are a number of different kinds of honey bee farm businesses, some examples include: Honey farm, Pollination services, Selling bees, and Selling raw beeswax.
How Do You Get Funding for Your Honey Bee Farm Business Plan?
Honey Bee Farm businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
What are the Steps To Start a Honey Bee Farm Business?
Starting a honey bee farm business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Honey Bee Farm Business Plan - The first step in starting a business is to create a detailed honey bee farm business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your honey bee farm business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your honey bee farm business is in compliance with local laws.
3. Register Your Honey Bee Farm Business - Once you have chosen a legal structure, the next step is to register your honey bee farm business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your honey bee farm business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Honey Bee Farm Equipment & Supplies - In order to start your honey bee farm business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your honey bee farm business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful honey bee farm business: