Abalone Farming Business Plan Template

Abalone farming presents a unique opportunity for entrepreneurs looking to venture into aquaculture. As a highly sought-after seafood delicacy, abalone not only commands premium prices in the market but also offers numerous environmental benefits when farmed sustainably. With the global demand for this marine mollusk on the rise, starting an abalone farming business can be both a lucrative and fulfilling endeavor. However, like any agricultural venture, it requires careful planning, knowledge of best practices, and a keen understanding of the market dynamics. This article will guide you through the essential steps to embark on your journey in abalone farming, from understanding the species and their habitats to navigating the regulatory landscape and marketing your product effectively. Whether you’re a seasoned aquaculture professional or a passionate newcomer, the world of abalone farming awaits with its potential for growth and profitability.

The global abalone market has experienced significant growth over the past few years, driven by increasing consumer demand for this highly prized seafood. The market is estimated to reach several billion dollars by the mid-2020s, reflecting a robust compound annual growth rate (CAGR) as more consumers seek sustainable and high-quality protein sources. Several factors contribute to this upward trend. First, the rising popularity of gourmet food and the health benefits associated with abalone, such as its rich protein content and essential amino acids, are attracting a broader consumer base. Additionally, the growing trend of aquaculture as a sustainable alternative to wild fishing is prompting many entrepreneurs to consider abalone farming as a viable business opportunity. Geographically, Asia-Pacific dominates the abalone market, with countries like China, South Korea, and Japan leading in both production and consumption. China, in particular, has a significant demand for abalone, driven by its cultural significance and culinary uses. However, other regions, including North America and Europe, are also witnessing an increase in abalone consumption, spurred by rising disposable incomes and a growing awareness of sustainable seafood options. Trends indicate a shift towards environmentally responsible farming practices, with consumers increasingly favoring products that adhere to sustainability standards. This has led to innovations in farming techniques, including the use of advanced technology for monitoring water quality and optimizing growth conditions. Furthermore, there is a growing interest in value-added products, such as processed abalone and ready-to-eat meals, which cater to the convenience-oriented consumer. As the market continues to expand, potential abalone farmers should consider these trends and the growing demand for sustainable seafood. With careful planning, adherence to best practices, and a focus on quality, entering the abalone farming industry can be a lucrative endeavor, positioning entrepreneurs to capitalize on this thriving market.

Identifying the target market is crucial for the success of an abalone farming business. Understanding who your potential customers are will help tailor your production and marketing strategies effectively. The primary market for abalone includes high-end restaurants and seafood distributors, particularly those that specialize in gourmet or premium seafood offerings. These establishments often seek fresh, high-quality abalone to cater to discerning diners, making them a significant target for sales. Additionally, luxury hotels and resorts, especially those located in coastal areas or known for fine dining, can be lucrative clients. Another important segment of the target market consists of retail consumers, particularly affluent individuals who are willing to pay a premium for gourmet ingredients. High-end grocery stores, specialty food shops, and online seafood retailers can serve as direct outlets for selling fresh or processed abalone to consumers. Targeting these channels can help reach customers who are interested in unique culinary experiences and are willing to invest in high-quality seafood products. Furthermore, the Asian market presents a substantial opportunity, as abalone is a delicacy in many Asian cuisines, especially in countries like China and Japan. Establishing connections with importers and distributors who specialize in Asian markets can significantly increase the reach of your abalone products. Lastly, sustainability-conscious consumers and businesses are increasingly looking for ethically sourced seafood. Positioning your abalone farming operation as sustainable and environmentally friendly can attract this growing demographic, which values responsible farming practices and product transparency. By clearly defining and understanding these target market segments, an abalone farming business can develop effective marketing strategies, foster relationships with key customers, and ultimately drive sales and growth.

When considering the establishment of an abalone farming business, understanding the various business models available is crucial for ensuring sustainability and profitability. The choice of model can significantly impact operational efficiency, market reach, and financial viability. Here are some common business models employed in abalone farming:
1. **Vertical Integration**: This model involves controlling multiple stages of the supply chain, from farming to processing and distribution. By managing the entire process, farmers can ensure quality and consistency, reduce costs, and increase margins. Vertical integration can also enable direct sales to consumers, enhancing brand loyalty and recognition.
2. **Cooperative Farming**: In this model, multiple farmers join forces to pool resources, share knowledge, and market their products collectively. This approach can help reduce individual costs and risks while increasing bargaining power against buyers. Cooperatives can also facilitate access to shared technologies and infrastructure, making it easier for small-scale farmers to enter the market.
3. **Aquaculture Partnerships**: Forming partnerships with existing seafood distributors, restaurants, or retailers can provide a stable market for abalone products. By aligning with established businesses, farmers can leverage their partners’ distribution networks and customer bases, reducing the burden of marketing and sales.
4. **Community-Supported Agriculture (CSA)**: This model allows consumers to buy shares of the farm’s produce in advance. In return, they receive regular deliveries of fresh abalone. This approach not only provides farmers with upfront capital but also fosters a sense of community and connection between consumers and producers.
5. **Research and Development Focus**: For those with a strong background in marine biology or aquaculture technology, focusing on R&D can be a lucrative model. By developing innovative farming techniques, breeding programs, or sustainable practices, farmers can differentiate themselves in the market. This approach can also attract investors and grant funding to support research initiatives.
6. **Tourism and Education**: Some abalone farms incorporate educational tours and eco-tourism into their business model. By offering visitors a chance to learn about abalone farming, sustainability practices, and the marine ecosystem, farms can create an additional revenue stream while promoting awareness of aquaculture.
7. **Online Sales and Direct-to-Consumer**: With the rise of e-commerce, many abalone farmers are exploring direct-to-consumer sales through online platforms. This model allows for higher profit margins by cutting out intermediaries and providing consumers with fresh, high-quality products. Utilizing social media and digital marketing can enhance visibility and attract a wider audience. Choosing the right business model for abalone farming will depend on various factors such as location, scale of operation, target market, and available resources. A thorough analysis of these elements, combined with an understanding of market trends and consumer preferences, will guide entrepreneurs in selecting the most effective approach for their abalone farming venture.

In the burgeoning industry of abalone farming, understanding the competitive landscape is crucial for aspiring entrepreneurs. The market is characterized by a mix of established players and new entrants, each vying for a share of the growing demand for this prized seafood. Key competitors typically include large-scale aquaculture operations, artisanal farms, and importers of wild-caught abalone. Each segment presents unique challenges and opportunities. To develop a competitive advantage in abalone farming, entrepreneurs should focus on several strategic areas:
1. **Sustainable Practices**: With increasing consumer awareness regarding sustainability, adopting eco-friendly farming practices can set a business apart. This includes using environmentally responsible feed, minimizing habitat disruption, and employing recirculating aquaculture systems that reduce water usage. Certification from recognized sustainability organizations can enhance credibility and attract environmentally conscious consumers.
2. **Quality Control and Product Differentiation**: Ensuring high-quality abalone through rigorous quality control processes can create a strong brand reputation. Consider niche markets, such as organic or premium-grade abalone, which can command higher prices. Additionally, offering value-added products, such as prepared abalone or specialty sauces, can differentiate your business from competitors.
3. **Technological Innovation**: Incorporating advanced technology in farming practices can lead to improved growth rates and lower operational costs. Utilizing automated systems for feeding, water quality monitoring, and disease management can enhance efficiency. Investing in research and development for breeding programs can also yield faster-growing and disease-resistant strains of abalone, providing a significant edge.
4. **Market Research and Customer Engagement**: Understanding the target market is essential for tailoring products and marketing strategies. Conducting thorough market research can identify trends, preferences, and gaps in the market. Engaging directly with customers through farm tours, educational workshops, and social media can build loyalty and foster a community around the brand.
5. **Strategic Partnerships**: Forming alliances with restaurants, distributors, and retailers can create a robust distribution network. Collaborating with chefs and food influencers can enhance visibility and credibility, increasing demand for your product. Additionally, partnerships with research institutions can provide access to the latest aquaculture advancements, further solidifying a competitive position.
6. **Financial Management and Cost Efficiency**: Establishing a solid financial foundation is vital for long-term success. Careful budgeting, monitoring of operational costs, and optimizing supply chain management can improve profitability. Exploring government grants or subsidies for aquaculture can also provide financial support for new ventures. By effectively navigating the competitive landscape and focusing on these key areas, entrepreneurs can position their abalone farming business for success in an increasingly competitive market. Emphasizing sustainability, quality, innovation, market understanding, partnerships, and financial prudence will not only differentiate a new business but also contribute to the overall growth and sustainability of the abalone farming industry.

Starting an abalone farming business involves navigating a complex landscape of legal and regulatory requirements that vary by location. Here are some key considerations to keep in mind:
1. **Licensing and Permits**: Before launching an abalone farm, it is essential to obtain the necessary licenses and permits from local and national authorities. This often includes aquaculture licenses, which grant permission to cultivate marine organisms. The specific requirements can vary significantly by region, so it’s crucial to consult with local fisheries departments or aquaculture regulatory bodies to determine the exact licenses needed.
2. **Environmental Regulations**: Abalone farming must comply with environmental regulations designed to protect marine ecosystems. This includes assessments to ensure that farming activities do not negatively impact local biodiversity, water quality, or marine habitats. Depending on the location, an Environmental Impact Assessment (EIA) may be required to evaluate potential ecological effects and identify measures to mitigate any negative impacts.
3. **Sustainability Standards**: Many regions have established sustainability standards for aquaculture to promote responsible farming practices. Adhering to these standards may involve implementing best practices in breeding, feeding, and harvesting to ensure the long-term viability of abalone populations and their habitats. Certification from recognized sustainability organizations can enhance the credibility of the farm and appeal to environmentally conscious consumers.
4. **Biosecurity Measures**: Effective biosecurity measures are critical in preventing the introduction and spread of diseases among farmed abalone and wild populations. Regulatory bodies may require specific protocols for disease management, including quarantine procedures, health monitoring, and reporting of any disease outbreaks. Compliance with biosecurity regulations helps protect not only the farm’s stock but also the broader marine environment.
5. **Food Safety Regulations**: If the abalone farm intends to sell its products for human consumption, it must adhere to food safety regulations set forth by health authorities. This includes proper handling, processing, and storage of abalone to prevent contamination and ensure that the products meet safety standards. Regular inspections and compliance with food safety guidelines are typically required.
6. **Zoning and Land Use Regulations**: It is crucial to ensure that the location selected for the abalone farm is zoned appropriately for aquaculture activities. Local zoning laws may dictate where aquaculture operations can be established, as well as any associated land use requirements. Engaging with local planning authorities can clarify any restrictions or obligations related to land use.
7. **Reporting and Record-Keeping**: Most regulatory frameworks require abalone farmers to maintain detailed records of their farming operations, including stock management, feed usage, and health monitoring. Regular reporting may be necessary to demonstrate compliance with regulatory requirements and to track the sustainability of the operation.
8. **Trade Regulations**: If the abalone farm plans to export its products, it must comply with international trade regulations and standards. This may include obtaining export permits, adhering to specific packaging and labeling requirements, and meeting the health standards set by the importing country. By thoroughly understanding and addressing these legal and regulatory requirements, aspiring abalone farmers can set a solid foundation for their business, ensuring compliance while promoting sustainable and responsible aquaculture practices. It is advisable to seek legal counsel or consult with industry experts to navigate these complexities effectively.

When considering the establishment of an abalone farming business, understanding the various financing options available is crucial to securing the necessary capital for startup and operational costs. Here are some key avenues to explore:
1. **Personal Savings**: Utilizing personal savings is often the first step for many entrepreneurs. This approach minimizes debt and allows for greater control over the business without external pressures.
2. **Family and Friends**: Turning to family and friends for financial support can be a viable option. This may involve informal loans or investments, and it’s essential to clearly outline the terms to avoid misunderstandings.
3. **Bank Loans**: Traditional bank loans can provide substantial funding for abalone farming ventures. To secure a loan, a solid business plan demonstrating potential profitability and a clear repayment strategy will be essential. Banks will typically assess creditworthiness and the viability of the business model.
4. **Government Grants and Subsidies**: Various government programs are designed to support aquaculture and sustainable farming practices. Research local and national grants that may be available for aquaculture initiatives, which can provide non-repayable funds or low-interest loans.
5. **Venture Capital**: For those looking to scale quickly, seeking out venture capitalists who specialize in agricultural or aquaculture investments might be an option. These investors often provide significant funding in exchange for equity in the business.
6. **Crowdfunding**: Online crowdfunding platforms can be an innovative way to raise funds. Presenting a compelling story and business plan on platforms like Kickstarter or Indiegogo may attract backers who are interested in supporting sustainable and unique agricultural projects.
7. **Aquaculture Cooperatives**: Joining or forming a cooperative can provide shared resources and financial support from members. Cooperatives may offer collective purchasing power and shared marketing efforts, reducing costs for individual farmers.
8. **Microfinance Institutions**: For those who may not qualify for traditional bank loans, microfinance institutions offer small loans designed for entrepreneurs in developing areas. These loans can provide the necessary capital to start small-scale operations.
9. **Partnerships**: Forming partnerships with experienced investors or other farmers can help share the financial burden while bringing in valuable expertise to the operation. This can be particularly beneficial in navigating the complexities of abalone farming.
10. **Research and Development Grants**: If the farming operation includes innovative techniques or technology, look for grants aimed at research and development. These can provide additional funding to explore more efficient or sustainable farming practices. Understanding the pros and cons of each option, as well as the specific requirements involved, will help in choosing the best financing strategy for launching a successful abalone farming business.

When embarking on an abalone farming business, effective marketing and sales strategies are crucial for establishing a strong market presence and ensuring profitability. Here are several approaches to consider:
1. **Identify Target Markets**: Start by identifying your target customers, which may include seafood distributors, restaurants, grocery stores, and direct consumers. Understanding their preferences and purchasing behaviors will help tailor your marketing efforts.
2. **Brand Development**: Create a strong brand that resonates with your target market. This includes designing a memorable logo, developing a compelling brand story, and highlighting the sustainability and quality of your product. A well-crafted brand can differentiate your abalone from competitors and build customer loyalty.
3. **Online Presence**: Establish an online presence through a professional website and active social media accounts. The website should provide information about your farm, product offerings, and the benefits of consuming abalone. Use social media platforms like Instagram and Facebook to showcase your products, share recipes, and engage with customers.
4. **Educate Consumers**: Since abalone may not be as familiar to some consumers, providing educational content can be effective. Host workshops, create informative videos, or write blog posts about the nutritional benefits of abalone, cooking tips, and sustainable farming practices. This can help build a knowledgeable customer base and increase demand.
5. **Networking and Partnerships**: Establish relationships with local chefs, seafood distributors, and culinary influencers. Collaborating with restaurants to feature your abalone in their dishes can enhance visibility and credibility. Attend food festivals, trade shows, and farmers' markets to network with potential buyers and promote your product.
6. **Direct Sales Channels**: Consider direct-to-consumer sales through online platforms or farm tours. Offering subscription services or weekly boxes of fresh abalone can attract consumers looking for convenience and quality. This approach also allows for higher profit margins compared to selling exclusively through distributors.
7. **Promotions and Discounts**: Implement promotional strategies such as introductory offers, discounts for bulk purchases, or loyalty programs for repeat customers. These tactics can incentivize trial and encourage repeat business.
8. **Sustainability Messaging**: Highlight your sustainable farming practices and the environmental benefits of abalone farming. Consumers are increasingly drawn to eco-friendly products, and emphasizing your commitment to sustainability can enhance your brand appeal. By employing these marketing and sales strategies, you can effectively position your abalone farming business in the market, attract customers, and drive sales growth. As you build your brand and customer base, continually assess and adapt your strategies to meet market demands and preferences.

When embarking on an abalone farming venture, a well-structured operations and logistics plan is essential for ensuring a successful and sustainable business. Here are the key components to consider:
1. **Site Selection and Preparation**: Choosing the right location is critical for abalone farming. Ideal sites are typically near clean, nutrient-rich waters with stable temperatures and salinity levels. Conduct thorough environmental assessments to ensure the area can support abalone growth, considering factors like water quality, depth, and accessibility. Once a site is selected, prepare it by installing necessary infrastructure, such as tanks, raceways, or cages, depending on whether you opt for land-based or sea-based farming.
2. **Water Quality Management**: Abalone are highly sensitive to their aquatic environment. Ensure that water quality is consistently monitored and maintained. This includes regular testing for parameters such as temperature, salinity, pH, dissolved oxygen, and ammonia levels. Implement filtration and water circulation systems to keep the habitat clean and conducive for growth.
3. **Seed Stock Acquisition**: Source high-quality abalone seed stock from reputable hatcheries or breeding facilities. It’s crucial to choose species that are well-suited to your local environment and market demand, such as Haliotis rufescens or Haliotis discus hannai. Establish relationships with suppliers to ensure a reliable and consistent supply.
4. **Feeding and Nutrition**: Develop a feeding regimen that meets the nutritional needs of your abalone. They primarily feed on algae, so consider cultivating or sourcing the appropriate types of algae. Additionally, monitor feeding patterns and adjust quantities to prevent overfeeding, which can lead to water quality issues.
5. **Health Monitoring and Disease Management**: Regularly assess the health of your abalone for signs of disease or stress. Establish a health management plan that includes biosecurity measures to prevent the introduction of pathogens, as well as protocols for treatment if diseases do occur. This might include quarantining sick individuals or implementing vaccination if applicable.
6. **Harvesting and Processing**: Plan the harvesting process carefully to minimize stress on the abalone. Use methods that ensure the quality of the product is maintained during collection. After harvesting, implement efficient processing steps, such as cleaning, grading, and packaging, to prepare the abalone for market. Consider the logistics of cold storage and transportation to preserve freshness.
7. **Logistics and Distribution**: Develop a robust distribution strategy to reach your target market effectively. This may involve partnerships with local seafood markets, restaurants, or distributors. Ensure you have a reliable transportation method that maintains the required temperature and conditions for live abalone.
8. **Regulatory Compliance**: Familiarize yourself with local regulations regarding aquaculture and seafood production. Obtain necessary permits and licenses, and ensure that your operations meet environmental and health standards. Compliance not only avoids legal issues but also enhances your credibility in the market.
9. **Sustainability Practices**: Implement sustainable farming practices to minimize environmental impact. This includes responsible harvesting techniques, waste management, and possibly engaging in restorative practices to support local marine ecosystems. Highlighting sustainability can also be a selling point, appealing to environmentally conscious consumers.
10. **Continuous Learning and Adaptation**: The aquaculture industry is constantly evolving, so remain open to new techniques and technologies that can enhance production efficiency and sustainability. Engage with industry groups, attend workshops, and stay informed about market trends to adapt your operations accordingly. By addressing these operational and logistical facets, you’ll establish a strong foundation for your abalone farming business, setting yourself up for success in this niche yet profitable aquaculture market.

A well-structured personnel plan is essential for the successful operation of your abalone farming business. This plan should outline the roles, responsibilities, and qualifications of the staff needed to ensure efficient farm management and production. First, identify the key positions required for the farm. These may include a farm manager, who oversees daily operations, manages staff, and ensures production targets are met. The farm manager should possess strong organizational skills, experience in aquaculture, and knowledge of abalone farming practices. Next, consider hiring workers for specific tasks. This may include hatchery technicians, who are responsible for breeding and nurturing juvenile abalones, and farm hands, who perform daily maintenance, feeding, and monitoring of the abalone stock. It's important that these workers have a basic understanding of aquaculture techniques and are trained in handling live marine organisms. Additionally, you may need to engage a marketing specialist to promote your products and develop sales strategies. This role is crucial for establishing relationships with distributors, retailers, and consumers, ensuring that your abalone reaches the market effectively. Training and development should be integral to your personnel management strategy. Regular workshops and training sessions on best practices in abalone care, biosecurity measures, and sustainable farming techniques will enhance staff skills and keep them informed about the latest advancements in the industry. Establishing a clear communication structure is also key. Regular meetings should be held to discuss operational challenges, share insights, and foster teamwork. This will not only improve efficiency but also enhance staff morale and retention. Finally, consider the importance of compliance with local regulations regarding labor, health, and safety standards. Ensuring that your personnel practices meet these regulations is vital for the sustainability of your abalone farming business. In summary, a comprehensive personnel plan that includes clearly defined roles, ongoing training, effective communication, and regulatory compliance will be critical to the success of your abalone farming venture.

In conclusion, embarking on an abalone farming venture can be a rewarding and profitable endeavor, provided that you approach it with thorough research, careful planning, and a commitment to sustainable practices. Understanding the specific requirements of abalone cultivation, from optimal water conditions to feeding and breeding techniques, is crucial for success. Additionally, staying informed about market trends and regulatory guidelines will help you navigate the business landscape effectively. By fostering a deep respect for the ecosystem and prioritizing responsible farming methods, you can not only achieve your business goals but also contribute positively to marine conservation efforts. With dedication and the right strategies in place, your abalone farming business can thrive and make a meaningful impact in the aquaculture industry.

## Starting an Abalone Farming Business Plan Starting an abalone farming business can be a rewarding venture, but it requires careful planning and execution. Here’s a step-by-step guide to creating a comprehensive business plan for your abalone farming operation. ### Step 1: Research the Market - **Understand the Industry**: Research the current market for abalone, including demand, pricing, and potential competitors. - **Identify Your Target Market**: Determine who your customers will be (restaurants, seafood markets, direct consumers) and their preferences. ### Step 2: Define Your Business Model - **Choose a Farming Method**: Decide between land-based systems, ocean-based systems, or hybrid methods. - **Scale of Operation**: Determine the size of your farm and the species of abalone you want to cultivate. ### Step 3: Create a Business Plan Outline - **Executive Summary**: Summarize your business idea, mission statement, and objectives. - **Company Description**: Provide detailed information about your business structure, ownership, and location. - **Market Analysis**: Include research on market trends, customer demographics, and competitive analysis. - **Marketing Strategy**: Outline how you plan to market your product, including pricing, promotion, and sales tactics. - **Operational Plan**: Detail the day-to-day operations, including farming methods, equipment needs, and staffing requirements. - **Financial Projections**: Include startup costs, operating expenses, revenue forecasts, and break-even analysis. ### Step 4: Secure Funding - **Determine Funding Requirements**: Calculate how much capital you need to start and operate your business. - **Explore Funding Options**: Look into personal savings, bank loans, grants, and investors. ### Step 5: Choose a Location - **Site Selection**: Find a suitable site with optimal water quality, temperature, and accessibility. - **Permits and Regulations**: Research and obtain necessary permits and licenses for aquaculture in your region. ### Step 6: Build Infrastructure - **Design Your Farm**: Plan the layout of your farming system, including tanks or ocean enclosures. - **Purchase Equipment**: Acquire the necessary equipment for water filtration, feeding, and monitoring. ### Step 7: Stock Your Farm - **Source Seed Stock**: Purchase abalone larvae or juvenile abalone from reputable suppliers. - **Implement Care Protocols**: Establish feeding, health monitoring, and cleaning protocols. ### Step 8: Monitor and Manage - **Regular Maintenance**: Maintain water quality and monitor the health of your abalone. - **Record Keeping**: Keep detailed records of growth rates, feeding schedules, and financials. ### Step 9: Harvest and Market - **Harvesting Techniques**: Learn the best practices for harvesting abalone to maximize quality. - **Develop Sales Channels**: Establish relationships with buyers and create a marketing plan to promote your product. ### Step 10: Evaluate and Adjust - **Review Performance**: Regularly assess your business operations and financial performance. - **Make Adjustments**: Be prepared to adapt your strategies based on market feedback and operational challenges. --- ### FAQs About Abalone Farming **
1. What is abalone farming?** Abalone farming is the aquaculture practice of cultivating abalone, a type of shellfish valued for its meat and shells, in controlled environments. **
2. How long does it take to grow abalone?** Abalone can take anywhere from 1 to 3 years to reach market size, depending on the species and growing conditions. **
3. What are the best species of abalone to farm?** Common species include the Pacific abalone (Haliotis discus) and the green abalone (Haliotis fulgens). Research local regulations to determine which species are suitable for farming in your area. **
4. What are the main challenges in abalone farming?** Challenges include managing water quality, disease control, sourcing seed stock, and market fluctuations. **
5. How much does it cost to start an abalone farm?** Startup costs can vary significantly based on location, scale, and farming method, but initial investments typically range from tens of thousands to several hundred thousand dollars. **
6. Is abalone farming environmentally sustainable?** When managed properly, abalone farming can be sustainable. It is important to follow best practices to minimize environmental impact. **
7. Can I start an abalone farm with limited experience?** While some experience in aquaculture is beneficial, many successful abalone farmers start with a passion for marine life and a commitment to learning. Consider seeking mentorship or training programs. **
8. How can I market my abalone?** Develop a marketing strategy that includes online promotion, partnerships with local restaurants, and participation in seafood expos or farmers' markets. By following these steps and addressing the common questions, you can build a solid foundation for your abalone farming business. Good