arcahaie, haiti project - cetai, sa · arcahaie, haiti project . usaid-winner et cetai, sa . plant...

CETAI, SA

Centre de Transformation Agro-Industrielle No. 9, Impasse B. Duval, Vivy Mitchell, route de Frères. __Tel.: _(509) 3323-4271 _ Please, visit us at www.cetai.org __

CETAI Business Plan

04/26/13 rev.3

Arcahaie, Haiti Project USAID-Winner et CETAI, SA

Plant complex for Agro-Transformation and Packaging of Plantain, Potatoes, Breadfruits, Sweet Potatoes Chips; Red, Black & Congo Beans. At start-up, we expect to hire about seventy five people for the Plant Complex construction and set-up. We expect to start processing and packaging the Beans. At that stage, we are planning to directly hire about fifty people and, indirectly, more than one hundred fifty families in the farming and production of the Beans. Some three to four months later, we will add the Chips line when we expect to directly hire more than one hundred employees and indirectly more than three hundreds families in the production of Plantain, Potatoes, Sweet Potatoes and Breadfruits. Once the whole Plant Complex is all functional, we will directly and definitely employ more than two hundreds people and indirectly more than four hundreds families in all productions.

Some key points about this project: 1- We will locate the processing//packaging Plant in the Arcahaie region, north of Port-au-Prince and away from the Capital. Thus, we would contribute in de-centralizing Haiti. 2- We will train the Youngsters in the area to become: Machinist, Electrician, Plumber, Carpenter. The Plant will be built by us with these Trainees. 3- The Farmers will be empowered as USAID-Winner is looking to buy them up to twenty five (25%) of stocks into CETAI, Arcahaie SA, in addition to being an outlet for them to sell their products. 4- All products will be processed and packaged as per the American FDA. Our products will be available for the domestic Haitian market and specially for export anywhere overseas. 5- We will participate in re-foretasting Haiti with fruits and vegetable trees.

CETAI, SA


CETAI Business Plan

Table of Contents Pages I)- Project Presentation: - Project Summary _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 3 - Company _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 4-5 - Who will benefit from the Project? _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 5-10 II)- The Market: - Products _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 11-17 - Competition _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _17-19 - Customer_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 20 - Marketing // Pricing _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 20-21 - SWAT_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 22 III)- Technical: - Plant location _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _23 - Building//Civil Engineering_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 24-27 - Equipments_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 28-32 - Processing//Manufacturing _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _33-35 - Choice of Technology _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 36 - Human Resources; Employment//Labor _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 37 - Management_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 38-39 - Waste Management_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 40 IV)- Finance - Project Cost _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 41 - Investment Budget _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _42 - Operations Costs _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _42-45 - Working Capital _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 46 - Return On Investment ( ROI) _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 47 - Income Statement _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 48 - Projected Balance Sheet _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 49 V)- Risk Analysis // Sources_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 50-51 VI)- Purchase Orders _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 52-55

CETAI, SA


CETAI Business Plan

Executive Summary CETAI stands for Centre de Transformation Agro-Industriel. Mr. Carlo Darbouze is the principle promoter of the company. CETAI S.A. is looking to build and operate a food processing and conditioning plant project based in the Arcahaie region. The plant will primarily condition beans, clean, dehydrate and package them initially in the 50kg polypropylene bags and eventually pack the beans in 1 to 5 lbs pouches for retail distribution. Two more lines of processing will be added through financing from FDI and a grant to local farmers which will secure their participation in the ownership of the new company. They are: an energy drink line which will develop products similar to Bongu Shake and “AK-100”; a banana & potato chips product similar to the very popular “Papita” sold throughout the streets of the metropolitan area. Mr. Darbouze has more than 25 years of experience in the industry; he has worked for many companies in the USA. Today, he is the General Manager of Miami Bottling & Packaging Group, a company based in North Miami which processes a portfolio of food products and drinks. WINNER, Watershed Initiative for National Natural Environmental Resources, has decided to encourage CETAI by helping organize farmer associations into cooperatives (COPACMA – Cooperative des Associations Championnes du Corridor des Matheux) which CETAI will integrate as a shareholder. This partnership will yield great benefits for the region, COPACMA, and CETAI. CETAI’s business objective is to spur economic development by processing locally made products and distributing them efficiently to local and international markets. This document will provide more detailed information on the company, its owners, the market, the competition, and the elaborated financial plan. The total project cost is $ 3,828,038.00 US; DDB Corp has already invested $ 1,435,207.00 US as equity and will invest an additional $ 856,059.00 to build the plant and buy more equipment; CETAI is seeking a grant from Feed the Future – West / WINNER for $ 949,558.00 US to cover equipment purchases and operating funds for raw materials, and a financing from FDI for $587,214.00 US for the construction of the main plant, the purchase of equipment, and a small operating fund to source packing products mostly.

Financing plan

Total cost $ 3,828,038.00

Amount # of shares Equity already injected $ 1,435,207.00 440 New equity to be injected $ 1,805,617.50 560 Total equity $ 3,240,824.50 1,000 Total debt $ 587,214 15%

CETAI, SA


CETAI Business Plan

Company CETAI is the name of the company; it stands for Centre de Transformation Agro-Industriel. CETAI is a food processing and conditioning plant project based in the Arcahaie region. The plant will primarily condition beans, cleaning, dehydrating and packaging them, and as the next step will process banana and vegetable to make a beverage called The Shake (similar to a Nutrament Shake) and potato & banana chips. CETAI is obtaining the support of the USAID project Feed the Future – West / WINNER. This project is working with multiple farmer associations in the Corridor of Matheux region with the aim of creating a Cooperative which in turn will be incorporated by CETAI as a shareholder. This partnership of experienced Haitian entrepreneurs and experienced farmers holds great potential. It is key to adding value to products that, in the past, could not make it to market due to poor road conditions, poor storage and technical infrastructure. Incorporating the Cooperative into the capital of CETAI will provide added revenues to the farmer/owners and secure minimum quota production for the plant to be operational all season long. Loyalty secured by shared interest is key to success. The principles of CETAI have great expertise and experience in designing, building, and setting up a processing and packaging plant. Since the plant will be run and operated by Haitian workers, these employees will receive training on equipment and processes. Carlo Darbouze is the principle promoter of CETAI. Mr. Darbouze is a Haitian-American electrical and manufacturing engineer with extensive experience (more than 23 years) in the manufacturing sector in southern Florida, USA. Mr. Darbouze is currently the general manager of Miami Bottling & Packaging Grp, located in Miami Florida, since June 2001. The Miami company is a packaging plant and sales office in one. Some of their products are sold in supermarkets all over Miami and Fort Lauderdale. One of their most profitable products is the Madame Gougousse brand which consists of imported rice, packaged in 5 lbs pouches and 25 lbs bags. The other successful product is an energy drink called Deportiva or Sportage which comes in Gatorade like bottles or in a powder form. Mr. Darbouze holds a Bachelor’s degree in Electrical Engineering from CUNY’s City College of New York, class of 1989. He is very active in sports and is fluent in French, English, Spanish, and Creole. Mr. Darbouze owns 60% of the company’s shares and is the President Directeur General, PDG. Valbrun Leveque is the treasurer of the CETAI. He has accumulated over 10 years of experience in the business world as a team player having performed a remarkable career and well known for being a pro-active professional developing efficient communication skills with excellent customer service and high standards of quality of operation covering: new account openings, cash handling, proof processing, accounting support, transfer remittance, collections and most of retail banking items. His career in the banking industry spans from 1982 to 2004. Windsor Calixte is the Secretary of CETAI. He has accumulated more than 20 years of experience in banking, finance and management at mid management and executive levels. Windsor is also a successful entrepreneur with hands on experience in raising capital, managing staff, and meeting investor’s objectives.

CETAI, SA


CETAI Business Plan

The “Cooperative des Paysans Chanpyon des Matheux”, known as COPACMA, has been registered with the help of the project Feed the Future West / WINNER. This new Cooperative would own at least 20% of the shares of CETAI. Its contribution, from its member associations, will be to supply CETAI in raw materials. The 20 associations that make up COPACMA, already produce beans from the Chaine des Matheux area. Their participation in the responsibilities of CETAI will yield added dividends along with an open contract for CETAI to purchase its production first before looking for other products elsewhere. COPACMA’s membership into CETAI is key to the sustained success of the company. Below is a summary of the academic profile and professional experience of the original promoters of CETAI.

Who would benefit from the Project?

I- The local region: Employment, Farming and the Environment:

a- by hiring and empowering the People in these areas.

b- by participating in the development of these areas.

c- by raising the life style, the assets of the People in these areas.

d- by setting-up a re-cycling and reforesting system.

II- Environment: Rapid Environmental degradation in Haiti must be stopped and reversed. It harms the health of more than the estimated 8 million Haitians, enormously reduces the economic productivity in this, yet virgin, Caribbean country. Helping the Environment and the Agriculture generally work hands and hands; this statement could not be any more valid, more truthful than for Haiti. Green garden wastes are generated from all the fruits like Mango, Passion Fruits, Cashew Apple, Orange, Lime, Grape Fruits, Star Fruits, Breadfruits ..etc. and the vegetables like plantain, sweet Potatoes, Yams ..etc. sold on the streets sides and make-shift markets all over Haiti. Unfortunately, all these wastes are always left on the streets. When we process the fruits and vegetables, we will collect both solid and liquid wastes to (1) be used into the composting area or (2) be shredded and blended to feed live stocks.

CETAI, SA


CETAI Business Plan

i. FRUIT WASTE UTILISATION Processing of fruits produces two types of waste - a solid waste of peel/skin, seeds, stones etc -a liquid waste of juice and washed waters. In some fruits the discarded portion can be very high (eg mango 30-50%, banana 20%, pineapple 40-50% and orange 30-50%). Therefore, it is necessary to ensure that some preliminary separation takes place during processing (eg peel and waste pulp into one bin, mouldy parts, leaves, soil etc to another which is discarded, stones, seeds etc into a third bin). All these rich nutrients wastes will be recycled for both live stocks and farming needs: (1)- Composting is a natural process in which bacteria and fungi, in the presence of air and water, convert bio-degradable materials into stable substances. The release of heat during the composting process causes the temperature of the composting material to rise to between 60oC and 70oC, effectively sanitizing the material and drying the final product. The composting process takes place over a number of weeks, and once finished, the resulting product can be bagged up and sold to be used in organic farming; thus avoiding synthetic chemicals. Worldwide, there's more capital going into organic agriculture than ever before. (2)- The following are six possible products that can be produced from these wastes: Candied peel, Oils, Pectin, Reformed fruit pieces, Enzymes, Wine/vinegar, Candied peel. (3)- We will separate all seeds, condition them to be re-planted. We will organize farm-field trips with the local schools. One key remark in doing so is to return to these sites later-on with these Students to eyewitness their work, their contribution to a better Haiti. ii. CETAI, SA will be a permanent Partner in restoring the Environment, specially the following ways: (1)- We will provide seeds and grafted trees to be planted by local Students in the area. (2)- We will always participate in re-foresting Haiti with the Haitian Department of Environment, specially with fruits and vegetables trees. (3)- We have found out that the popular tree called “Lila”, that was brought in Haiti not really that long ago and but is now grown all over the Country, does have a load of natural insecticide properties. We definitely are very interested in looking into these claims and run some trials. Imagine these Farmers getting help in fighting these pesky and destructive insects with a “Lila” based product instead these artificial products that they used.

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CETAI, SA


CETAI Business Plan

iii. Finished Products: Another area where we will bring improvement is in the finished Haitian products, processed and packaged in Haiti. All of our processing, packaging and bottling will be done based on the US FDA requirements and regulations. All products will be correctly labeled with proper Nutrition Facts. CETAI SA will treat, process and package to US standards the following products and by-products, but not limited to the following local cereals and vegetables: Corn, Sorghum, Sheila Rice, Beans, Breadfruits, Sweet Potatoes, Potatoes and Yams. CETAI SA will process and bottle fruits drinks, Energy Sports Drinks, Cibers using our local fruits like Mango, Orange, Grapefruits, Star Fruits ( Carambola ), and cashew apple ( Pomme a cajou) and others. All finished products will be available for the local Haitian market as well as for exports anywhere overseas: the Caribbean, Northern and Latin America, Europe and anywhere else. We will certainly raise the level of hygiene and cleanliness of the local products sold in the street. We intend to present a bag that will be the equivalent of the Haitian standard measure in the street, "the marmite". CETAI, Les Cayes SA has a re-purchase program of empty bottles and jars (after consumption) to be recycled at the factory. Thus, we would not be of those who increase the amount of plastic waste on the streets. With the protection of the environment as one of our responsibilities CETAI, Les Cayes SA will use resin to extrude PE / HDPE containers and bottles that are100% recyclable. Everyone around the globe is aware and worried about Haiti’s environmental status. The following are just a few quotes that we should not neglected.

1- British-based risk consultancy Maplecroft lists Haiti as number two of 166 nations by their vulnerability to climate change, behind only Somalia and ahead of Afghanistan and Sierra Leone.

2- According to an AID report, Haiti "is suffering from a degree of environmental degradation almost without equal in the entire world." The virgin forests that once covered the entire country have now been reduced to 4% of the total land area.

3- According to United Nations sources, Haiti loses 3% of its forests every year. Deforestation has had a disastrous effect on soil fertility, because the steep hillsides on which so many Haitian farmers work are particularly susceptible to erosion.

CETAI, SA


CETAI Business Plan

IV- Agriculture: i. We acknowledge that all four aspects of Haiti's rural predicament - economic, ecological, nutritional and technical - are inter-linked. By working closely with farmer groups we will be able to offer practical help to the rural population in the south of Haiti, the majority of whom depend on agriculture for their livelihood. We will support them in all three areas they have been struggling for years: (1)- Irrigation ( water ), (2)- Fertilizer and (3) Seeds to guarantee an economic gains for all. We are having these Farmers forming in a “Coorperative” in order to formulate the same and common grievances, to increase their buying power and have one solid voice. One key goal of our development projects in Haiti is to increase farmer income, move Haiti from a street Vendor oriented agriculture to one that supports the food industry, and to improve the environment with commercial fruit trees. Practical agricultural training and hands-on technical assistance are essential means to achieve these goals and we have own dedicated agriculturist department. Last January 23rd., 2012, the USAID-Winner organized a face-to-face meeting for our group and some farmers’ associations Representatives. We discussed an array of subjects that reflect the harsh reality these Farmers are living in.

CETAI, SA


CETAI Business Plan

ii. Among the subjects that we discussed was the costs of beans to us. After some good exchanges and with the persistent help of Mr. Philippe Bellerive, these Representatives agreed to drop the costs per pound of all beans to US$ 0.40 assuming that we buy all their harvest and pick-up the crops from them. Also, one the representative received the good word from Mr. Dessources of the USAID-Winner to help them with a particular problem they have. That concession and agreement not only revive the beans project but put it on top of the list with the quickest ROI. After we reached the agreement on the beans, these Farmers told us about the list of other products they desperately need help with. That meeting did confirm the need for the Plant complex.

Again, on February 23rd., we met with twenty-two additional Haitian Farmers’ associations to obtain a similar deal than the one we had with the first four associations; and we did.

CETAI, SA


CETAI Business Plan

iii. We are looking to design, supervise the plant construction and set-up the machineries; using all Haitian labor. We will promote the main idea of Farmers’ owned Company by reserving some company’s stock for the local Farmers. The main reasons behind this approach are: 1- to create a sense of “common financial interest” between the Processing//Packaging Plant and the local Farmers who supply the Plant complex. 2- to create a long lasting business bond between the Plant Complex Investors and the local Farmers. 3- to ensure that the Famers and Families know that we want to help empower them and permanently improve their lives. We definitely want to get involved and support the community where the Plant Complex is located. 4- to give them, the Farmers, a good reason to continue planting and supplying the Plant Complex because of the first three reasons ( 1,2,3,4). Beside the financial aspect, we told them of the other two conditions to become Shareholders of that venture. First, they must form a cooperative and second they must Plant the same seeds at the same time over a large amount of land, grouped or not.

Everyone around the globe is aware and worried about Haiti’s agricultural status. The following are just a few selected quotes that we should not neglect: 1- "What stands out most for Haiti is resource security -- food security and water security," said

Fiona Place, risk analyst at Maplecroft of the ranking that rates countries according to their vulnerability to natural hazards, from droughts to floods.

2- "It is crucial that the priority of boosting agricultural production in the country is not forgotten in the rubble and chaos," the U.N.'s Food and Agricultural Organization said in a statement. Most Haitians live in rural areas.

3- Agriculture not only gives riches to a nation, but the only riches she can call her own.

V- The host Government* and Haiti as a whole, as we help: a- in the de-centralization process. b- in reducing Haiti’s dependency on other countries c- in boosting the Haitian agriculture and natural assets. d- by increasing their revenues in collecting more taxes. e- by driving the overall food products costs down by “ increasing the production and making the transformation more efficient”. * It might not be a bad idea for the Government to come back with the “government controlled food outlets” which would help stabilize the food market.

VI- The USA and neighborhood countries, as migrations to these Countries will definitely and considerably decreased. Haiti will then depend on less “hand-outs” from foreign countries.

VI- Haitians’ land Owners in Haiti and abroad. With the assistance of the Government, we can lease at a very long term vacant lands all around the Country to grow fruits and/or basic raw materials.

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CETAI, SA


CETAI Business Plan

Market The Product CETAI’s overall objective is to become one of the largest processing and packaging plant in Haiti for the following products: beans; banana shake; corn shake (AK-100 / Foskao); banana, potato and breadfruit chip and flour; and organic fertilizer. Due to budget restrictions, CETAI will launch its operation in phases.

• PHASE 1 – Bean processing and packaging – October 2013 • PHASE 2 – Plantain, Potato, and Breadfruit Chip processing and packaging – January 2014 • PHASE 3 – Plantain and Corn Shake processing and packaging – December 2014

Beans Beans play a significant role in the diet of Haitians. Beans are consumed almost daily with either rice or maize. Haiti’s national dish is rice and beans! There are numerous varieties of beans in Haiti; however, CETAI will process 3 types of beans based on their availability: black, red, and white. Black beans are the most consumed, though red and white are preferred. Haitians prefer locally produced beans over imported beans. Beans are grown in humid mountain regions and in irrigated plains. There are two to three harvests per year in the mountain regions. See planting and harvest seasons below:

Data from The Market System for Beans in Haiti (EMMA) & adapted for the region of Matheux Beans Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Planting Beans in Mountains Planting Beans in Plains Beans Harvest Plains Mountains Mountains Plantain, Banana ( Figue), Breadfruit for Shake and Chips Haiti produces 3 varieties of banane: plantain, figue banane (pouyak, tonken, bayonet…) and banana poban with high flour potential. The Arcahaie region produces 60,000 MT of banana on approximately 3,800 ha. In the Nord-Ouest department 350 ha produce 6,000 MT of banana. Other major producers of banana are in Petit-Goâve, Grande Riviere du Nord, la Vallee des 3 Rivieres and Marigot. In the plain regions out of 20,000 producers of banane were 9,000 producers from Arcahaie; in the mountainous regions, 230,000 producers worked on 100,000 ha of land dedicated to that culture. In 1991, Haiti produced 505,000 MT; in 2004, 320,000 MT; in 2006, 286,587 MT on 45,000 ha; this trend continues as imports from DR increase – 20,000 MT imported from DR – and plant are not treated for infections. Haiti also exports banana to DR and Petites Antilles, from 3,000 to 5,000 MT per year Potatoes for Chips Potato is a crop that is cultivated year round and is a great source of calories. 2006 statistics from FAO, show a production of 160,535 MT on 55,000 ha. Madame Saras play an important role in the distribution of the crop from the producers to the retailers. Potatoes are produced in a wide range of climatic conditions; however it is found mainly in dry areas where it provides a degree of food security to the local population.

CETAI, SA


CETAI Business Plan

Maize (Corn) for AK-100 Besides plantain, Maize is the most produced crop by Haitian farmers across the country. Maize is planted regularly, in large fields and on small land plots. It is easily cared for and, depending on variety, can be produced 2 to 3 times a year on the same land. The government intervenes in the production of maize by distributing seeds and fertilizers. In 2009, 450,000 ha of maize produced 304,000MT. Areas with higher yields include the Departments of Sud, Centre, and Grand Anse with more than 900 kg per 1 ha. It is estimated that approximately 300,000 producers are responsible for the local production. Maize flows into Port-au-Prince from all production areas as it represents the largest inflow market. Import of maize is insignificant compared to the yearly production volumes. Size and Trends Beans Studies sponsored by the USAID in Haiti reveal that Haitians consume 70,000 to 80,000 metric tons of beans each year. 80% of the beans in the market place are produced locally. The balance is imported by 3 major importers. Maché Ti Tony is the largest importer wholesaler in Port-au-Prince. The pie chart below shows the source of bean in the Haiti market (note that Food Aids consist of imported beans as well.

As more rice is imported, more beans are consumed by the Haitian population. There is a direct correlation between rice import/production and beans production/import. Below is a map of local production of bean in Haiti:

CETAI, SA


CETAI Business Plan

Most imported beans arrive from the USA. World Food Program, WFP, imports more than 68% of NGO imports to Haiti. See the pie charts below:

Through these numbers, we’ve realized that local production will determine the import quantity of beans, and furthermore, the consumption of rice which comprises the main daily dish of Haitians will affect consumption of beans. We can deduct from the information above that approximately 7,000 metric tons of beans are produced in the Ouest Department. That information was also confirmed by representatives of farmer associations whom have met with the principles of CETAI, representatives of FTF-W / WINNER, and Agronomist Pierre Brière , consultant for CETAI; that meeting was held on January 23, 2012. Farmers also stated that more than 40% of their production is lost because bad road conditions keep them from reaching the markets (Marché Public). Improving some access roads and creating collection centers in the region has helped in reducing the lost in production.

CETAI, SA


CETAI Business Plan

CETAI will begin its operations by March 2013. That year, CETAI will run its production plant 8 hours per day, at a maximum efficiency of 4 metric tons per hour; plant will be operational 5 days a week, 4 weeks per month during 3 months; there are 3 seasons per year. This yield a maximum output for the year of 2,880 metric tons. During 2013, CETAI will increase its capacity by 20%. This can be reached by increasing the hours of operation and also by being more efficient per hour, reaching the maximum installed capacity of 5 metric tons per hour. By year end, CETAI can reach 50% of the actual production of the West Department. The beans market chain involves approximately 350,000 producers, thousands of wholesalers, Madame Saras, transporters, and retailers. In the Port-au-Prince area, there are about 50 wholesalers (owners of Depot) and 100 Madame Saras per wholesaler. According to a report by EMMA in February 2010, the number of street retailers is very difficult to quantify.

FTF – W / WINNER project has begun deploying a shell removing machine that it will rent to farmers during the coming June harvest. The machine, Batedeira TR385 fabricated in Brazil by Triton, enable de-pulping to produce more than 300 kg in 1 hour. This machine should be transported to each farmer when s/he is ready to sell to CETAI. See pictures below of product – in this case Black beans in their shells and the TR385:

CETAI, SA


CETAI Business Plan

Next is the TR385 in action and its end product:

The next picture is the humidity meter. At this experiment, we’ve monitored the humidity level of the beans we’ve processed at 12.3%, which meets CETAI’s recommendation for purchase.

CETAI, SA


CETAI Business Plan

Chips Chips are very popular with school parents who insert daily a type of chip bag in the school lunch box of their children. Chips are cheap and children love them. Haitian parents spend a high percentage of their income on school and school related expenses for their children. Most of the chips they purchase are imported. Papita is very well known and has become the traditional banana chip in Haiti. It is locally made, however, it lacks in Hygiene because, mostly, of the packaging and distribution network. It is sold mostly in the streets at street light intersections. It is carried in baskets and carried without shade from one corner street to the next.

Banana Shake & AK-100 & Chocolate Milk Most shake products are imported either from Europe, the USA, South America, or the Dominican Republic. They are milk base, made from banana/plantain mostly and advertised as containing a day’s nutrients for the human body. The plantain, corn, and cocoa used to make these products follow the same supply chain as the beans. The Madame Saras play the key role in the distribution of these base products.

Plantain Volume (MT) Market Share Price/MT Season Local 286,587 93% 18,000 gdes All year Imported 20,000 7% n/a

The traditional AK-100, pronounced a-k-cent, is a very popular meal of maize/corn that is usually consumed with bread as a good and affordable breakfast. It is found almost everywhere in urban as in rural areas of Haiti, but usually served hot. CETAI is looking to promote this popular meal as a shake, ready to eat/drink, seeking to capitalize on the availability of corn and also on the myth that AK-100 is a nutrient rich local product. A company from the Dominican Republic, Mme French, has already infiltrated the market and is selling AK-100 in an 11 fluid oz can at supermarket stores in the PAP region.

Maize Volume (MT) Market Share Price/MT Season Local 342,630 99.9% 20,500 gdes Jun & Sep Imported Negligible 0.1% 14,000 gdes All year

CETAI, SA


CETAI Business Plan

Chocolate Milk is a sweetened, usually cold cocoa-flavored, milk drink. It is made up of milk and chocolate syrup. Other ingredients are usually added to give it a specific flavor. Chocolate milk is served cold and has great nutritional properties such as protein and carbohydrates. Powdered milk is not readily available in Haiti and can be very expensive. After rice, milk is the second-largest import. Haiti spent more than $40 million a year on imported milk. To mitigate this factor, then President Préval had asked the international community to help subsidize this staple and at the same time invest in locally produced milk from “Creole Cows” (more than 500,000 countrywide). That’s when Let Agogo was created. Let Agogo is a franchise of localized dairies that transform and sell locally produced milk. Cow owners would bring their milk to the Let Agogo dairy and would receive cash for each gallon of milk sold after tests are successful about its quality. The 9.5 fl oz bottles of sterilized milk are sold at $0.65 in stores. Buying bulk would be a lot cheaper; however volumes would be a problem. Today, the government purchases this milk and supplies it to the school lunch program at a loss. This could be a good alternative source of milk for CETAI (besides powdered milk). The other important ingredient in chocolate milk is the chocolate syrup/powder or locally produced cocoa paste. Chocolate in all these forms is readily available in Haiti and not as expensive as milk. Haiti exports cocoa beans to Europe and North America. Beans that do not make the A-grade are sold locally and processed to create cocoa paste. They usually come in cylindrical bars less than a foot long. These bars are usually mixed with milk to create chocolate milk, Haitian style. This chocolate milk is usually served hot and consumed with bread in the morning. Competition CETAI will be competing with the current market structure and supply chain. Beans Since local beans are preferred over imported beans and if the beans are priced properly, the risk of fierce competition will be mitigated. Competition for the beans sale is not expected to be fierce in the following conditions. - CETAI would have to settle for lower margins, but it would benefit from volume sales of the 50 kg bags.

As CETAI contemplates packaging the beans in 5 lbs and 1 lb pouches, it will then be in fierce competition with supermarket owners who purchase beans at the local street markets and package them in 1 lb to 5 lbs pouches at their stores to increase their margins. Below is what the Bean Market System looked like a few months after the Earthquake.

CETAI, SA


CETAI Business Plan

- CETAI aims to produce and sell 50 kg bags of beans as its major and preferred product. This will enable it

to enter the supply chain with the same packaging found in imported beans. Outlets for its products are major importers, like Maché Ti Tony, and Food Aid importers like WFP and Food For the Poor. Most likely, these beans are donated to these NGOs. CETAI would make the case to these agencies that purchasing local production will have multiple positive effects such as: encourage farmers; save our mountains; offer a better quality product to the recipients of aid; encourage investment in agro-business; injection of cash in the market (which has its own benefits); reduce imports; etc.

- Now, let’s examine the competition for the beans produced by the farmers. One of the biggest problems the farmers in the Corridor of Matheux faces is the lack of roads to get their products to market. Once the roads are improved, CETAI will have to compete with the markets for the production. Although CETAI has a verbal agreement with the farmer associations, which are to integrate CETAI as the new Cooperative COPACMA, at $0.40 per lbs with a humidity level of 15% or less, nothing will keep an individual farmer within that Cooperative from reaching the market – via the new public road – and selling at twice what CETAI is prepared to pay. Of course, the increased production and the installation of collection centers will help meet the minimum required for CETAI to be productive and profitable. Pressure will come also from Madame Saras whom have lent money to farmers prior to harvest season for various reasons (sending kids to school, sickness or death in the family, etc.). CETAI plans to have silos for maximum storage during harvest period. The representatives of the Cooperative within CETAI have to be held responsible for a minimum daily quota. Cash must also be available at all times in small denominations to send the signal to farmers that if you need money now, you can sell your production to CETAI and get cash immediately in return.

CETAI, SA


CETAI Business Plan

Good bookkeeping and cash flow procedures must be kept. Heads of the Cooperative must be rewarded financially for helping meet the objectives set on a daily basis (commission).

In order to better control the production of beans, FTF-W / WINNER must motivate the farmer to use its de-pulping machines to quickly and efficiently retrieve the beans from its protective shell. This machine, the Batedeira, from Triton, a Brazilian company, automatically separates the skins from the beans, sending the skin in one direction and filling a 50kg bag in 10 minutes. Comparatively, it could take 3 to 4 hours worth of manual labor to have the same efficiency.

Banana Shake & AK-100 & Chocolate Milk In the shake arena, one company has soared above the rest with its aggressive marketing and extended distribution network; it’s the local distributor BONGU. Bongu is a very well known food and drink ‘maker’ & distributor throughout Haiti. They import and label with their name products such as tomato sauce, spaghetti, rice, and milk shakes. Bongu’s market share in the shake business has seen the most increase vis-à-vis other competitors like Nutrament, Sportshake, Powershake, and Chocomel; no official data is available to determine the real market share, but based on advertising air-time, Bongu’s market share is significant. Bongu’s biggest asset is its brand name. Through a very successful marketing initiative, Bongu has created a name for itself with great value similar to the Digicel brand. It has blanketed the airwaves day and night with funny ads featuring very well known artists like Tonton Bicha, Ti Joe Zenith, Mika Ben, and Ricky Juste.

Most shakes are sold in small can containers ranging from 250 ml (8.5 fl oz) to 325 ml (11 fl oz). CETAI’s biggest challenge will be to overcome this monster distribution network; the alternative would be to join them. Chips Besides Papita, sold in the street, most supermarkets and mini markets carry a line of chips both locally made and imported. Another area of distribution for the chip products is by school entrances. It is noticed that throughout the greater metropolitan area that small merchants set up their selling box (3 cubic feet volume – contains candies and cigarettes) by the school in the morning time for parents who buy chips for the kids before they get to class and during the noon recreation for students looking to buy a snack as a lunch complement. At these locations, imported products are found, mostly from the DR. One DR company that is making headways is the Chicharritas with potato and plantain chips and the very popular Cheetos which kids love. CETAI will have to tap into this distribution network as an alternative source of distribution during the school season if it decides to go ahead with its own branded product line or be restricted to the super and mini markets.

CETAI, SA


CETAI Business Plan

Customer Initially, CETAI customers will be Madame Saras, Wholesalers, Private Importers and Food Aid Importers. These customers will buy bulk from CETAI, ensuring that all production is sold within a week or two of production to limit storage areas. Minimum purchase will be mandatory and at a certain level, CETAI can offer to deliver a full truck load to the customers in the immediate regions such as Greater Metropolitan area of PAP and Saint Marc. For the shake and chip products, CETAI will have to sell to a network of distributors who decide what goes on the shelves of the supermarkets. That means selling at a lower price, but having access to shelf and refrigerated space. Marketing Strategy CETAI biggest asset is the fact that it is processing local products, packaging them in the same manner as imported products. It will have to accentuate the Made in Haiti label during sales pitch and focus on the quality and good taste of the products. CETAI will not perform mass advertising for the beans product line since its potential customers are few and have a known address or phone number. The personal touch – one on one – will be very effective and with the help of FTF-W/WINNER, CETAI principles will be introduced to decision makers in the industry / supply chain; however, CETAI will have to aggressively seek affordable ways to advertise the chips and shake product lines. The alternative would be to work with Bongu to have them promote the locally made Shake as their own and insert it into their local distribution markets. CETAI will have to compete for advertising space with Bongu to promote its own products. It must emphasize the fact that it uses local ingredients in its product as a differentiating factor. Of course, price has to be comparable to direct competitors like Bongu shakes and Chicharritas chips. It is through an effective advertising campaign that customers will then ask for the products at the supermarkets. It is recommended that small fairs are executed to show the product and have customers taste it in some key areas. Once the brand is established, it is then important to keep advertising the products on the radio and even on television. Pricing Beans CETAI is looking for a net margin (before taxes since CETAI will apply for the Customs and Income Tax Exemption benefits from the ‘Comission Interministerielle des Investissements’) between 15% and 25%. That translates into a sale price ranging from $0.72/lb or $1.58/kg to $0.90/lb or $1.98/kg. Some wholesalers in Pétion-Ville like Chez Philippe and Depot SAVIN on Rue Villate and Maché Ti Tony claim that they purchase more imported beans because the local bean are not supplied evenly throughout the year and they expire fairly quickly compared to the imports. The folks at Depot SAVIN stated that they do not buy local beans because at one point, the beans were responsible for rotting all other products they had in the depot because their moisture content was high and therefore could not be stored for extended periods. They mostly carry the Pinto beans because the price is very attractive.

CETAI, SA


CETAI Business Plan

* Prices in US$ Wholesaler Type of Beans Unit Cost

Sale price Margin

Import DR Chez Philippe Pinto 50 kg Not available $83.13 Not available Import DR Depot Savin Pinto 50 kg Not available $82.50 Not available Import US Mache Ti Tony Pinto 100 lbs $84.00 $85.00 $1.00 Import US Mache Ti Tony Black 100 lbs $82.00 $83.00 $1.00

Shake It is recommended that CETAI position the pricing to the distributor at 30 gourdes or $0.70 US for the 10 fl oz. bottle and $1.10 for the 16 fl oz. bottle regardless of the flavor. This pricing will enable the distributors and the retailers to sustain a comparable margin vis-à-vis the other products. Success will be pricing and availability of the product. The target sale price could be around 45 gourdes per 10 fl oz.

* Prices in Gourdes Brand Unit Cost Sale price Margin Imported/local Shake Bongu * 330 ml ~30 .00 57.00 ~27.00

Imported Shake Sportshake 325 ml Not available 68.00 Not available

Imported Chocolate Milk Chocomel 250 ml Not available

54.00 Not available

Imported Shake Powershake 250 ml Not available

57.00 Not available

Imported AK-100 Mme French 325 ml

Not available 62.00

Not available

* It’s worth noting that Bongu’s metal can container of 330 ml hold less liquid than the Sportshake’s metal can container of 325 ml. This fact has an impact in the cost of the product and Bongu’s capacity to be very competitive. Chips It is recommended that CETAI sell the 3 oz pouch at 7 gourdes to distributors or $0.16 US. CETAI will not be in a position to compete with the Papitas sold in the street. The target here is a hygienic product that will appeal to school children and their moms.

* Prices in Gourdes Brand Unit Cost Sale price Margin Local Plantain chip Papita ~2.0 oz ~5.00 10.00 ~ 7 .00 Local Plantain chip DEVE Prod. Delic. 3.0 oz ~10.00 35.00 ~25.00 Imported Plantain chip Chicharritas 1.5 oz ??.00 35.00 ??.00 Local Potato chip Pom Te Lakay 1.5 oz ~12.00 35.00 ~23.00 Imported Potato chip Chicharritas 1.5 oz ?? .00 35.00 ?? .00

CETAI, SA


CETAI Business Plan

SWOT Analysis Strength Strong knowledge of the processing plant equipment environment and operation; Has long experience in the food processing environment and is familiar with liabilities that

are borne out of damaged food products; Has a reliable partner in WINNER, with great knowledge bank and credibility in the

production area of Corridor of Matheux and around Haiti; Weakness Lack of knowledge in the business start-up environment of Haiti; Lack of personal experience working with farmers and cooperatives; Carlo Darbouze, the principle owner of CETAI, will not be in Haiti consistently once the plant

is operational – but will be available 100% of the time; Lack of equity funds limits the opportunity to put more products in the market during phase

1; Opportunity Most production from farmers does not get to market; therefore, building a road will allow

CETAI the opportunity to access the excess production; Since Haitian beans are preferred to imported beans, excess production or injection in the

market will simply reduce the amount of imported beans; WFP might be able to reserve the production from CETAI during the May/June harvest to

meet demand for the hurricane season which runs from June to November every year; School children often have in their lunch box either potato/plantain chip for snacks – tapping

into this market at the right price will be a success factor for the chip products; Threat Minimum volume is needed to make the plant investment profitable; High humidity in the beans will increase the currently agreed price per lb set at $0.40; Timing to secure the financing and order the equipment with import delays and install will

put the November harvest season in jeopardy; The Shake products will face very tough competition from Bongu’s imported product line;

CETAI, SA


CETAI Business Plan

Operation Location of the project CETAI’s processing plant will be located in the region of Arcahaie, more precisely, in the First Communal Section of Boucassin, Habitation Thomas (South corner: 18 47’21.88”N 72 29’09.43”W at an altitude of 62 meters above sea level). This property of more than 380,000 square meters will not only house the plant; most of the land, provided to DDB Corp by the Haitian Government, will be planted with varieties of beans and will serve as a minimum production base for the plant. The plant will be built on about 5 hectares of the land and is only about 40 minutes away from vast production area which will supply it with beans, plantain, potatoes, breadfruit, corn and other agricultural products which can be transformed. See pictures below.

The site is accessible via trucks or 4x4 vehicles. It is about 1,100 meters from the main road, Route Nationale #1. The locals have a cinder block fabrication plant, owned by the CASEC, Romulus Pierre Andre. Water is

abundantly available on site and construction foundation rocks are available nearby. Only river sand will need to be transported from Montrouis during construction. Underground water is available, but an artesian well will have to be dug to provide water to the plant. Manual labor is also on hand. CETAI will also have to ensure the road rehabilitation to facilitate access to the plant. Harvest area to be exploited is located in and around the Arcahaie and Montrouis areas, situated at 15 to 30 kilometers from the CETAI plant location.

CETAI, SA


CETAI Business Plan

Annex B – Design

CETAI, SA


CETAI Business Plan

CETAI, SA


CETAI Business Plan

The center area will hold the offices, R/D, First Aid, Training room; all common to the production halls. We will take advantage of this construction and mini industrial Park set-up to train Haitian employees. We have already started the technical training of some Locals. The whole complex will be all built and supervised by Haitians.

CETAI, SA


CETAI Business Plan

Equipment List of Equipment from DDB:

CETAI, Arcahaie SA

Machines that are already and/or will be soon built or bought by DDB Corporation , **These machines cover both the Beans and Liquid ( shakes ) lines.

Precision Air-Screen Cleaner $25,700.00 1 $25,700.00 ** Gravity Cleanser (De-stoner ): 5MT per hr. $32,500.00 1 $32,500.00 **

Vibration Separator: 3MT per hour. $31,500.00 1 $31,500.00 ** Polisher, 3MT per hour. $35,500.00 1 $35,500.00 ** Gravity Separator $37,450.00 1 $37,450.00 **

Bucket Elevators: 3MT per hr. $15,750.00 3 $47,250.00 ** Office equipments and supplies $15,000.00 1 $15,000.00 * * Storage Hoppers $4,500.00 1 $4,500.00 **

Bulk 100lbs. Baggers with scale: 2MT per hour. $114,100.00 1 $114,100.00 **

Retails 5lbs.: 1MT per hour. $129,000.00 1 $129,000.00 ** Retails: 1lbs. FFS : 0.6MT per hour. $135,000.00 1 $135,000.00 **

Maintenance Machine Shop: (used Lathe, Milling machine, Surface grinder, stand-up drill and miscell.)

$35,000.00 1 $35,000.00

** Small Labs with basis equipment $11,000.00 1 $11,000.00 ** Hand Pallet Jacks $750.00 2 $1,500.00 **

Gas Dryer ( Dehydrator ) 3MT per hour $180,000.00 1 $180,000.00 **

8000 - 10000 cu.ft. ( used ) Cool Room $21,000.00 1 $21,000.00 **

Total: $856,000.00

CETAI, SA


CETAI Business Plan

List of equipment from DDB (continue):

CETAI, Arcahaie SA Machines that are already and/or will be soon built or bought by DDB Corporation

**These machines cover both the Beans and Liquid ( shake ) lines.

100-120' well for the Plant water supply. $22,000.00 1 $22,000.00

Promotion//Marketing tools and materials $75,000.00 1 $75,000.00

Dust Collector $12,500.00 4 $50,000.00

Stainless Steel tubing and Fittings $17,000.00 1 $17,000.00

Homogenizer $16,000.00 2 $32,000.00

100lbs medium scale $300.00 1 $300.00

10lbs, 5lbs and 1lb. Lab scales $550.00 2 $1,100.00

ph and Alkaline testers, $1,500.00 1 $1,500.00

Small Labs with basis equipment $11,000.00 1 $11,000.00

Conveyors $7,000.00 5 $35,000.00

Shipping box Printers, Tape Dispenser/Sealers $12,500.00 3 $37,500.00

Forklifts ( propane gas, 4000-5000lbs ) $15,000.00 2 $30,000.00

Delivery and Pick-up mid-size trucks: diesel with power booster $28,900.00 3 $86,700.00

Sales Vehicles: motocycles $1,200.00 10 $12,000.00

Ink Jet Printers $16,000.00 2 $32,000.00

Road repairs and maintenance $85,000.00 1 $85,000.00

Grand Total: $1,384,100.00

CETAI, SA


CETAI Business Plan

List of equipment from Feed the Future – West / WINNER:

Description Qty Total Price

Combined plantain/Potato chips line with: 1 $ 252,200.00

washing and peeling station, slice and cutting station, Hydro-Extractor, Blanching station, Fryer, De oiling machine, Flavoring machine and packing system assembly with elevator, weigher, FFS AND EXIT Convoyer

Pre-fabricated 18' DIA, 185-207MT Complete Galvenized Silo with: loading and unloading screw conveyors, center agitator, De-humidifier unit assembly (propane gas heat )

2 $ 244,518.50

Diesel Generator (120-125KW, 220Vac,60Hz, 3phases)

2 $ 75,000.00

Inverter assembly: 40-50 KW, 120/240 Vac, 60Hz, 3 phases with automatic switching and batteries for Lighting and light duty only

2 $ 33,740.00

Propane Gas Boiler: 50HP, 220/240 Vac, 60Hz, 3 phases

2 $ 15,600.00

Totat equipments $ 621,058.50

Shipping & Handling $ 18,500.00

Ground transportation $ 6,000.00

Customs fees $ 4,000.00

Total shipping & handling $ 28,500.00

Grant Total

$ 649,558.50

CETAI, SA


CETAI Business Plan

List of equipment from FDI:

CETAI, Arcahaie SA

These Machines that will be bought from the approved loan to "CETAI, Arcahaie SA" by the FDI. All machines must be: 120 or 220/240 Vac. Single or three phases, 60Hrz.

PE / HDPE Extruder blow Mold machine with the following: 120, 220-240 Volts, 1 and/or 3 phases, 60 Hertz, Screw DIA: 65-90, RATIO : 24-30 (L/D, ) 12-14 cavities, complete with the following:

$79,500.00 1 $79,500.00

1- Feed Line, with hopper and control. $3,000.00 1 $3,000.00

2- Deflasher and Exit conveyor $5,629.00 1 $5,629.00

3- Air Compressor and control system $2,500.00 1 $2,500.00

4- Chiller, De-Humidifier $3,500 1 $3,500.00

5- Material blending and handling system. $3,800 1 $3,800.00

6- Grinder with feed line, vacuum and storage tank. $4,100 1

$4,100.00

Complete PE/PP bags Extruder line: Width: Min 600mm - Max. 1300mm, Thickness: 0.01-0.10mm - 0.03-0.15mm, Max Production 140kg/hr, Extruder Dia: 65mm

$49,728.00 1 $49,728.00

PE/PP Bags Sealers: Max. Width: 1000MM, Max. Length: 800MM, Cut Length: 0.009 - 0.10MM, Capacity: 50-120 PCS/Min

$21,700.00 1 $21,700.00

Steam Jacketed Kettle Mixer with internal Scrapper: 500gallons

$17,500.00 3 $52,500.00

Grand Total: $225,957.00

CETAI, SA


CETAI Business Plan

CETAI, SA


CETAI Business Plan

Processing

The process for any type of beans is as follows (red indicates manual process; blue indicates process performed by machinery):

CETAI, SA


CETAI Business Plan

The process for producing the shake product line is as follows (21,000 units per day): ( conveyor )

A-5 ( machine ) - Shear Mixer // Cooker

A-8 ( machine ) - Mix and Cook while

adding:

A-7 ( machines ) - Screen batch at the

end of blend

A-9 ( machines ) - Add powder milk, cinnamon, sugar

Vitamins and other additives.

A-10 ( machine ) - Pasteurizing

A-12 ( machine ) - Filler. ..

A-13 ( machine ) -Capper & Coder

A-6 ( machine ) - Add other vegetables

like: Carrots ..

A-2 ( manually ) - Soak to clean. Put all

in baskets of hot water

A-1 ( manually ) - Separate Plantain from stalk

and put Plantain in plastic crated-baskets.

A-3 ( manually ) - Peel-off Plantain,

Breadfruits - Potatoes ( semi-manual)

A-4 ( machine ) - Slice Plantain, Potatoes depending

on sizes that the process dictates.

D-1 Send stalks to be shredded and blended.

D- ( machine ) Live Stocks Food Processing.

D-2 ( conveyor ) Send Plantain, potatoes and Breadfruits peels to be shredded and re-cycled.

A-14 ( semi-auto ) -Gang Wrapping

A-15 ( manually ) -. Palletizing and warehousing.

CETAI, SA


CETAI Business Plan

The process for producing the chips product line is as follows (25 to 75 bags per minute):

CETAI, SA


CETAI Business Plan

Choice of the technology The technology used in this line of the industry is very standard. There is the automated approach and there is the semi-manual, semi-automated one. The automated one has been deployed in most countries with modernized agricultural infrastructure. This technology is employed in the US, Canada, China, Brazil, as well as in Dominican Republic and other Caribbean countries. But, in Haiti, we will seek the semi-automated approach as we seek to employ as many People as we can without jeopardizing any product quality and the success of the company.

Choice of the equipment CETAI has chosen this group of equipment because of prior experience with them, taking into account the costs, availability, and delivery lead time. Choice of the equipment suppliers CETAI has chosen this group of equipment suppliers because of prior experience with them, their reliability and mostly for their commitment to quality. Choice of the labor The labor force will be 100% Haitian. Carlo Darbouze and his associates will train each employee individually on how to manipulate and maintain each equipment. There are plenty of qualified resources in Haiti looking for opportunities in management. One note of caution: since Mr. Darbouze will not reside permanently in Haiti, clear objectives and goals have to be established and management staff will be held accountable to meet these goals. Costs have to be within budget and a reward structure has to be put in place to motivate employees to meet goals.

CETAI, SA


CETAI Business Plan

Human Resource Management

# Yearly Salary 30% Employee Benefit Total

General Manager 1 $30,000.00 $9,000.00 $39,000.00 Assistant Plant Operation Manager 1 $20,000.00 $6,000.00 $26,000.00 Supervisor 1 $24,000.00 $7,200.00 $31,200.00

3

$96,200.00

Labor

# Yearly Salary 30% Employee Benefit Total

Accountant & Bookkeeper 2 $8,000.00 $2,400.00 $20,800.00

Mechanic 1 $12,000.00 $3,600.00 $15,600.00

Electrician 1 $12,000.00 $3,600.00 $15,600.00

Welder 1 $12,000.00 $3,600.00 $15,600.00

Mechanic Helper 1 $6,000.00 $1,800.00 $7,800.00

Electrician Helper 1 $6,000.00 $1,800.00 $7,800.00

Welder Helper 1 $6,000.00 $1,800.00 $7,800.00

In-house Nurses 2 $6,250.00 $1,875.00 $16,250.00

Quality Control Tech 1 $14,000.00 $4,200.00 $18,200.00

R&D Tech 1 $14,000.00 $4,200.00 $18,200.00

Administrative Assistant 1 $6,000.00 $1,800.00 $7,800.00

Helper 5 $1,800.00 $540.00 $11,700.00

Sales Agent 10 $1,500.00 $450.00 $15,000.00

Forklift Operator 2 $7,000.00 $2,100.00 $18,200.00

Machine Operator 10 $6,000.00 $1,800.00 $78,000.00

Cleaning Personnel 2 $3,000.00 $900.00 $7,800.00

52

$282,150.00

CETAI, SA


CETAI Business Plan

Management

CETAI, SA board.

Carlo P. Darbouze CEO Engineering // Business // Management

Windsor Calixte

Secretary Finance // Business

Leveque Valbrun Treasurer

Finance // Banking // Business

Briere Pierre Advisor

Agriculturist

Bherta Donley Advisor

Sales // Marketing

COPACMA Advisor

Farmers Cooperative

CETAI, SA


CETAI Business Plan

CETAI, Arcahaie SA_ Plant Operations Management. chart.

All Managers will be Haitian, trained by us or already trained professional.

As an incentive to all Managers, we will also offer them stocks in the

Company.

Carlo P. Darbouze PDG

--( Name )---

GM

CETAI, SA Board

--( Name )--- GM Assistant

--( Name )--- Plant Operations

--( Name )--- Accounting//Finance

--( Name )--- Sales // Marketing

--( Name )--- Human Resources

--( Name )--- Production Supervisor

--( Name )--- Procurement

// Logistic

--( Name )--- Engineering

//

--( Name )--- Security // Sanitation

--( Name )--- QC // RD

CETAI, SA


CETAI Business Plan

Waste Management With the chips line, the plant will have to manage a quantity of organic waste especially from plantains. Therefore, these wastes will be transformed into compost which is very rich for the soil, in particular plantain orchards. This activity will at the same time create a few more jobs. A waste management place will be accommodated further on the West part of the plant yard. The compost will be distributed within the area to the producers to enrich their soil or sell among other producers and generate revenues.

The plant will generate about 7 tons of organic wastes per month that will produce 1.68 tons of compost per month.

We will follow the norms of the local authorities for the non-recyclable wastes.

compost images

CETAI, SA


CETAI Business Plan

Finance Project cost

Cost already incurred Additional cost to be incurred

DDB EQUITY

DDB EQUITY

WINNER EQUITY FDI LOAN Total

Land $187,000.00 $187,000.00 Building $127,323.00 $247,157.00 $374,480.00 Equipment $1,100,400.00 $649,558.50 $290,057.00 $2,040,015.50 Generators $91,736.00 $91,736.00 Office Equipment $15,000.00 $15,000.00 Data processing and Com Eq. $41,107.00 $41,107.00 Software $25,000.00 $25,000.00 Vehicles $98,700.00 $98,700.00 Leasehold improvement $0.00 Intangible assets $150,000.00 $450,000.00 $600,000.00 Other assets $5,000.00 $5,000.00 Working capital need $300,000.00 $50,000.00 $350,000.00 Total $1,435,207.00 $856,059.00 $949,558.50 $587,214.00 $3,828,038.50 Percentage of Total Cost 85% 15% 100%

Total Equity $3,240,824.50

DDB Equity 70.70% Cooperative Equity 29.30%

% Total Project Cost $3,828,038.50

Total Equity $3,240,824.50 84.66% Total Loan $587,214.00 15.34%

CETAI, SA


CETAI Business Plan

Investment budget

Year 0 Y 1

Y 2

Y 3 Y 4

Y 5 Y 6 Y 7

Y 8

Y 9 Y 10

Land $187,000 Building $374,480 Equipment $2,040,016 Generators $91,736 $91,736 $91,736 $91,736 Office Equipment $15,000 Data processing and Com Eq. $41,107 $41,107 $41,107 $41,107 Software $25,000 $25,000 $25,000 $25,000

Vehicles $98,700 $98,70

0 $0

Leasehold improvement $0 Intangible assets $600,000 Other assets $5,000 Working capital need $350,000

Total $3,828,03

9 $0

$0

$0

$157,843

$0

$98,700

$157,843

$0

$0 $157,843

Operational Costs Operational costs for producing beans are described in the variable and fix cost structure below:

A. BEANS. a. Variable Cost for 1 metric ton of beans is $1,214.93 (23 gourdes per lb):

i. Purchase price of beans with 25% humidity level is $0.41/lb or $0.89641/kg; ii. It is estimated that the maximum round trip from the plant to the production area is

60 kilometers and that the trucks will carry on average 80 bags of 50kg during each trip. The estimated fuel usage is 6 gallons for the round trip;

iii. It is estimated as well that dehydrating the beans will produce a loss of weight of 15% which will increase the price of 1 kg;

iv. Generators will be used exclusively during production in order to safeguard equipment from spikes from EDH feed. The main 80 kw generator will run 6 hours each production day at a maximum capacity of 4.6 gallons per hour. Diesel fuel cost is $3.90/gallon today.

v. Miscellaneous cost run approximately $157.00 per metric ton

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CETAI Business Plan

Quantity Unit Unit Cost Total Purchase of 1 Metric Ton @ $0.88/kg 1000 kg $0.896 $896.41

15% loss due to more dehydration 150 kg $1.00 $150.00

Generator Diesel fuel for production 1.15 gallon $3.90 $4.49

Transport from field to plant 1.56 gallon $3.90 $6.10

Miscellaneous (changes in costs) $164.93

B. SHAKE.

PLANTAIN Shake 10 oz 16 oz

AK-100 Shake 10 oz 16 oz

Chocolate Milk 10 oz 16 oz

Plantain 22% $0.0200 $0.0350

Corn 22% $0.0270 $0.043

0

Cocoa & Milk 22% $0.0320 $0.0510

Water 70% $0.0112 $0.0224

Water 70% $0.0112 $0.022

4

Water 70% $0.0112 $0.0224

Secret recipe 8% $0.0820 $0.1300

Secret recipe 8% $0.0910

$0.1450

Secret recipe 8% $0.0940 $0.1500

PET Bottle $0.0700 $0.1000

PET Bottle $0.0700 $0.100

0

PET Bottle $0.0700 $0.1000

Shrink sleeve $0.0820 $0.0820

Shrink sleeve $0.0820

$0.0820

Shrink sleeve $0.0820 $0.0820

Wrapping $0.0200 $0.0200

Wrapping $0.0200 $0.020

0

Wrapping $0.0200 $0.0200

Electricity $0.0140 $0.0224


4


Miscellaneous $0.0748 $0.1030

Miscellaneous $0.0788

$0.1087

Miscellaneous $0.0808 $0.1120

Total $0.3740 $0.5148

Total $0.3940 $0.543

5

Total $0.4040 $0.5598 The percentages and pricing above have been supplied by Carlo Darbouze except for the Electricity and the Miscellaneous items.

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CETAI Business Plan

C. CHIP. PLANTAIN Chips 3oz.

POTATO Chips 3oz.

Plantain 95% $0.0240 Potato 95% $0.0200 Secret recipe 5% $0.0070

Secret recipe 5% $0.0070

Pouch $0.0625

Pouch $0.0625 Poly bag $0.0013

Poly bag $0.0013

Miscellaneous + Electricity $0.0190

Miscellaneous + Electricity $0.0182

Total $0.1137

Total $0.1089 The percentages and pricing above have been supplied by Carlo Darbouze except for the Miscellaneous item.

D. Annual Operational Fixed cost

a. Salaries total $431,600 and include: i. Management salaries per year reach $96,200 per year, including 30% employee

benefits which include ONA, insurance, BONI, etc. There are 3 management employees.

ii. The labor force is composed of 52 employees with a total yearly salary of $335,400 including the 30% employee benefit package.

b. Depreciation expenses average $249,316 and include:

Y 1 Y 2 Y 3 Y 4 Y 5

Land $0 $0 $0 $0 $0 Building (20y) $18,724 $18,724 $18,724 $18,724 $18,724 Equipment (10y) $204,002 $204,002 $204,002 $204,002 $204,002 Generators (3y) $30,579 $30,579 $30,579 $30,579 $30,579 Office Equipment (5y) $1,500 $1,500 $1,500 $1,500 $1,500 Data processing and Com Eq. $13,702 $13,702 $13,702 $13,702 $13,702 Software $8,333 $8,333 $8,333 $8,333 $8,333 Vehicles (5) $19,740 $19,740 $19,740 $19,740 $19,740 Leasehold improvement (15y) Intangible assets (10y) $40,000 $40,000 $40,000 $40,000 $40,000 Other assets $500 $500 $500 $500 $500 Total $337,080 $337,080 $337,080 $337,080 $337,080

Cumulative Depreciation $168,540 $505,620 $842,700 $1,179,780 $1,516,859

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CETAI Business Plan

c. Fuel for administration work equals $75 per week.

i. The generator will run with a lower load for 2 hour per day, allowing employees to clean up the plant and prepare the next day. During those 2 hours each day, after each production cycle, the generator will consume 2 gallons per hour. Although the production fuel is presented below, it is incorporated in the production cost for each of the products.

Y 1 Y 2 Y 3 Y 4 Y 5

EDH in Kilowatt (16 h/day) 32 32 32 32 32 Cost per business Kilowatt $ 0.30 $ 0.30 $ 0.35 $ 0.35 $ 0.40 Main Generator in gallons /hour (8 hours/day) 74 74 74 74 74 Backup Generator in gallons / hour (2 h/day) 2 2 2 2 2 Cost per gallon of Diesel $ 3.86 $ 4.40 $ 4.75 $ 4.75 $ 5.00 TOTAL COST per day of operation $ 15 $ 18 $ 19 $ 19 $ 20

Work days 90 260 260 260 260

TOTAL PER YEAR $ 1,337 $ 4,581 $ 4,940 $ 4,940 $ 5,200

d. Insurance and maintenance total $94,408 for the first year and include: i. Vehicles are insured at 8%

ii. Equipment and building are insured at 2% iii. General Assets are maintained at 2%

Y 1 Y 2 Y 3 Y 4 Y 5

Vehicles $7,896 $7,896 $7,896 $7,896 $7,896 Equipment $40,800 $40,800 $40,800 $40,800 $40,800 Building $7,490 $7,490 $7,490 $7,490 $7,490 TOTAL $56,186 $56,186 $56,186 $56,186 $56,186

Y 1 Y 2 Y 3 Y 4 Y 5 Maintenance 52,099 52,099 52,099 52,099 52,099

e. Advertising and promotion total $172,000 and include:

Y 1 Y 2 Y 3 Y 4 Y 5 Advertizing $100,000 $100,000 $100,000 $100,000 $100,000 Promotion $50,000 $50,000 $50,000 $50,000 $50,000 Free samples $22,000 $22,000 $22,000 $22,000 $22,000 TOTAL $172,000 $172,000 $172,000 $172,000 $172,000

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CETAI Business Plan

f. Other expenses total $53,400 and include: Y 1 Y 2 Y 3 Y 4 Y 5

Water (3,000 gallons / day) $15,000 $15,000 $15,000 $15,000 $15,000 Audit fees $20,000 $20,000 $20,000 $20,000 $20,000 Security $39,600 $39,600 $39,600 $39,600 $39,600 Total $74,600 $74,600 $74,600 $74,600 $74,600

Working capital Working capital is set at $350,000 based on the following arguments:

• The company will request FtF-W/WINNER’s support to provide payment to farmers for raw materials delivered to CETAI up to $300,000;

• Part of FDI loan will help purchase packaging materials on a most needed basis.

Cost of capital Loan from FDI will total $587,214.00 which includes $50,000 as operating funds. CETAI is proposing 6 years to repay the loan with a grace period of 12 months on payment of capital. Interest rate on debt should run 8% or less. Interest on long term debt are described below:

Y 1 Y 2 Y 3 Y 4 Y 5 Y 6 FDI Loan Balance $587,214 $469,771 $352,328 $234,886 $117,443 $0 FDI yearly payment $0 $117,443 $117,443 $117,443 $117,443 $117,443 FDI 8% interest fee $46,977 $37,582 $28,186 $18,791 $9,395 $0 Cost of Capital $46,977 $37,582 $28,186 $18,791 $9,395 $0

Dividend policy 1,000 shares have been approved by the board of CETAI. 15% of net profit will be held as a security cushion. 75% of net profit will be distributed to share holders twice a year as of year #6. Balance of net profit will be reinvested in CETAI to expand product line.

Income tax CETAI will be subject to 30% income tax unless it receives an exemption from income taxes from the “Commission Interministérielle des Investissements” by making that request through the “Formulaire de Demande d’Admission aux Avantages Incitatifs a l’Investissement (Loi du 9 Octobre 2002 publiée le 26 Novembre 2002).

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CETAI Business Plan

Return on Investment & Break-even analysis

Total asset EBIT ROI Equity EBT ROE Year 1 3,828,039 455,629 11.90% 3,240,825 408,357 12.60% Year 2 4,282,165 (27,283) -0.64% 3,526,674 (74,260) -2.11% Year 3 3,993,528 1,335,536 33.44% 3,474,692 1,296,567 37.31% Year 4 5,234,117 1,718,609 32.83% 4,382,289 1,688,287 38.53% Year 5 6,587,523 1,997,013 30.32% 5,721,933 1,976,031 34.53% Year 6 7,940,903 2,307,005 29.05% 7,105,155 2,296,110 32.32% Year 7 9,617,670 2,651,983 27.57% 8,007,494 2,651,983 33.12% Year 8 10,947,089 3,049,240 27.85% 9,093,531 3,049,240 33.53% Year 9 12,285,842 3,474,664 28.28% 10,160,765 3,474,664 34.20% Year 10 13,793,164 3,947,216 28.62% 11,376,897 3,947,216 34.70% Average 7,851,004 2,090,961 26.63% 6,609,025 2,071,420 31.34%

Operational fixed costs Sales Margin Break-even1 Break-even1 / sales Year 1 592,744 4,547,376 23.05% 2,571,058 56.54%

Year 2 1,409,564 5,400,657 25.59% 5,507,252 101.97% Year 3 1,460,313 8,385,250 33.34% 4,379,739 52.23% Year 4 1,513,600 9,687,967 33.36% 4,536,745 46.83% Year 5 1,569,551 10,684,037 33.38% 4,701,764 44.01% Year 6 1,628,300 11,782,318 33.40% 4,875,136 41.38% Year 7 1,689,986 12,993,302 33.42% 5,057,266 38.92% Year 8 1,739,570 14,326,904 33.43% 5,204,351 36.33% Year 9 1,806,819 15,797,232 33.43% 5,404,304 34.21% Year 10 1,877,431 17,418,261 33.44% 5,614,346 32.23% Average 1,528,788 11,102,330 32.60% 4,689,029 42.23%

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CETAI Business Plan

Income Statement

Y1 Y2 Y3 Y4 Y5 Y6

Revenues Beans 4,547,376 5,152,182 5,837,758 6,742,611 7,433,729 8,195,686

Banana Shake 10 oz 0 0 296,000 341,880 376,923 415,557 Banana Shake 16 oz 0 0 468,000 540,540 595,945 657,030 AK-100 Shake 10 oz 0 0 297,052 343,095 378,262 417,034 AK-100 Shake 16 oz 0 0 466,796 539,149 594,412 655,339 FOSKAO Shake 10 oz 0 0 297,052 343,095 378,262 417,034 FOSKAO Shake 16 oz 0 0 466,796 539,149 594,412 655,339 Plantain Chips 3 oz 0 164,800 169,744 196,054 216,150 238,305 Potato Chips 3 oz 0 82,400 84,872 98,027 108,075 119,153 Interest on ST investments 0 1,275 1,180 4,365 7,866 11,840 Total revenues 4,547,376 5,400,657 8,385,250 9,687,967 10,684,037 11,782,318

Variable cost Beans 3,499,003 3,848,903 4,234,037 4,890,312 5,391,569 5,944,205

Banana Shake 10 oz 0 0 162,817 188,054 207,329 228,581 Banana Shake 16 oz 0 0 221,431 255,753 281,968 310,869 AK-100 Shake 10 oz 0 0 163,463 188,800 208,152 229,488 AK-100 Shake 16 oz 0 0 231,191 267,026 294,396 324,572 FOSKAO Shake 10 oz 0 0 166,858 192,721 212,475 234,254 FOSKAO Shake 16 oz 0 0 236,708 273,398 301,421 332,317 Plantain Chips 3 oz 0 114,073 117,495 135,706 149,616 164,952 Potato Chips 3 oz 0 55,400 55,400 63,987 70,546 77,777 Total variable costs 3,499,003 4,018,376 5,589,401 6,455,758 7,117,473 7,847,014

Marginal contribution 1,048,373 1,382,281 2,795,850 3,232,209 3,566,564 3,935,304

Fixed costs Depreciation 168,540 337,080 337,080 337,080 337,080 337,080

LT interest expenses 46,977 46,977 38,970 30,321 20,981 10,894 ST interest expenses 296 0 0 0 0 0

Other fixed costs 424,204 1,072,484 1,123,233 1,176,520 1,232,471 1,291,220

Total fixed costs 640,016 1,456,541 1,499,283 1,543,921 1,590,532 1,639,194 EBIT 408,357 (74,260) 1,296,567 1,688,287 1,976,031 2,296,110

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CETAI Business Plan

Pretax income 408,357 (74,260) 1,296,567 1,688,287 1,976,031 2,296,110 Income tax 122,507 (22,278) 388,970 506,486 592,809 688,833

Net Income $285,850 ($51,982) $907,597 $1,181,801 $1,383,222 $1,607,277

Dividend Payout 0 0 0 0 0 803,639 Projected Balance Sheet

Year 0 1 2 3 4 5 6

Asset Cash 0 45,474 53,994 83,841 96,836 106,762 117,705

Account receivables 0 227,369 269,969 419,204 484,180 533,809 588,524 Inventory 350,000 189,626 225,154 349,616 403,806 445,196 490,829 Marketable

securities 0 510,198 471,992 1,746,119 3,146,599 4,736,115 6,539,970 Total current asset 350,000 972,666 1,021,109 2,598,778 4,131,421 5,821,881 7,737,028

Net Fixed asset 3,478,039 3,309,499 2,972,419 2,635,339 2,456,102 2,119,022 1,880,642

Total asset 3,828,039 4,282,165 3,993,528 5,234,117 6,587,523 7,940,903 9,617,670

Current liability Overdraft 0 0 0 0 0 0 0

Accrued interests 0 296 0 0 0 0 0 Taxes payable 0 122,507 (22,278) 388,970 506,486 592,809 688,833 Dividends payable 0 0 0 0 0 0 803,639 Accounts payable 0 45,474 53,994 83,841 96,836 106,762 117,705

Total current liability 0 168,276 31,716 472,811 603,322 699,571 1,610,176

Long term debt 587,214 587,214 487,120 379,018 262,267 136,177 0

Total liability 587,214 755,490 518,835 851,828 865,590 835,748 1,610,176

Paid in capital 3,240,825 3,240,825 3,240,825 3,240,825 3,398,668 3,398,668 3,497,368 Retained earnings 0 285,850 233,868 1,141,464 2,323,266 3,706,488 4,510,126

Total equity 3,240,825 3,526,674 3,474,692 4,382,289 5,721,933 7,105,155 8,007,494

Total liabilities & equity 3,828,039 4,282,165 3,993,528 5,234,117 6,587,523 7,940,903 9,617,670

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CETAI Business Plan

Risk analysis and recommendations Technical risk Technical risks have been minimized due to heavy experience of Mr. Darbouze in the industry. He is an electrical engineer with more than 20 years working with these types of equipment. The processing industry is very stable and technology is very reliable. Spare parts are plentiful in the Miami area; they could be flown into Port-au-Prince over night. Mr. Darbouze will train all technicians on how to use and maintain the machines. Commercial risk Although the market can fully absorb the increase in production of beans, it is prudent for CETAI to enter the market as a wholesaler instead of competing with retailers and supermarkets by producing and selling, from day one, the 1 lb and 5 lbs pouches. This will mitigate the risk of shocking and disturbing the current distribution network and force a reaction which could impact CETAI negatively. It is recommended that CETAI management meet and discuss with many wholesalers, importers, and NGOs to present the product even before harvest. This will give a warning to these market players as to what production capacity will be available and enable them to better plan their imports. CETAI also has plenty of leverage room to meet any price challenge albeit for limited period of time. Another advantage for CETAI is that Mr. Darbouze’s firm in Miami could purchase and import large quantities of CETAI’s production for distribution and sale in the Miami area. For the Shake product line, it is recommended that CETAI strike a deal with Bongu to mass produce the shake products locally and have Bongu incorporate the product into its distribution network. Of course, this will mean lower profits for CETAI, however, it also means instant success as Bongu enjoys a favorable spot in the market share and in the customer’s mind with some very aggressive marketing initiatives. This could be the same for the Chips product. These locally produced items would enable Bongu to mitigate the criticism that all its products are imported to the expense of locally produced goods. Contextual risk The overall atmosphere in Haiti is conducive to investment in agro-industry. The government provides incentives to attract local and foreign investors by exempting firms from paying import and income taxes over 5, 10, even 15 years. With the reconstruction of Haiti well underway, demand will increase for local products. Operational risk CETAI is located outside of Port-au-Prince, in a remote area of Arcahaie, although easily accessible by SUV. If we take a look at the list of positions within CETAI, we will notice that all positions are manned by more than one person. This alleviates the risk of depending on one employee to perform a critical tasks. Furthermore, Mr. Darbouze will cross-train machine operators; two generators have been provisioned and will be installed at the plant.

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CETAI Business Plan

Sources: - DDB Corporation business plan February 16, 2012; - DDB Corporation business plan February 29, 2012; - Various articles on the web; - Interview with Mr. Carlo Darbouze at plant in Miami; - Interview with Agronome Briere Pierre; - Visit of site at Arcahaie; - Visit of production area in Arcahaie region; - Interview with Agronome Max Augustin of WINNER, Agronome Joel Ducasse; - Market study at Marche de Pétion-Ville, Mache Ti Tony, Megamart, Delimart, 8 a 8 market, Marche Croix

des Bossales, Big Star Market, Giant Market, Caribbean Market, Laboule Markets; - February 2010 - The Market System for Beans in Haiti, by EMMA; - June 2012 – Best Market Analysis, Haiti, by and for USAID;

CETAI, SA


CETAI Business Plan

Annex C – Quotes

CETAI, SA


CETAI Business Plan

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