Thursday, January 24, 2013

Would You Loan Me Money on This Business Plan


“Tell me why Daddy Hinkle's needs a “All In One” marinade again. I don’t think I got it the first time you explained it,” she said."You need to make a good business plan, and make it interesting too."
“Well,” I said, “all our distributors have been asking for a liquid marinade that is affordable, and that has the same great flavor of our two part marinades, and that works just as great too, so I made one.”
“You made one?” she said.
“Yes, I combined the O’riginal dry with the liquid and formulated a new Daddy Hinkle’s All In One Marinade,” I said. “Of course, I had to change the O’riginal dry formula. I took out all of the paprika for example because we didn’t need it for color any more. The same for the soybean oil and the anti caking stuff—there were several changes.
“Several changes?” she said.
“Yes, of course, I could not just dump a jar of the O’riginal dry into the 10 ounce bottle of the Liquid. I had to start fresh,” I said.
“Start Fresh?” she said.
“I did. I made a basic seasoned tenderizer first—water, salt, garlic, onion, and papain, then, I added soy sauce, vinegar, some olive oil, sugar, and citric acid. After all that, I put in some guar gum to make the marinade a little thicker.
“You made it a little thicker?” she said.
“Yes, I did. I wanted all little pieces of onion and garlic to be suspended evenly throughout the marinade and not fall to the bottom of the bottle.”
“How did the marinade work?” she said.
“I loved it.” I said. “You pour it on, rub or fork it in and let the meat warm up to room temperature. I used it on some chicken breast and grilled them on an electric grill. They were delicious. What I liked best was that there was no more guessing about how much liquid or dry to use. You just pour about an ounce of the new All In One on a couple of pounds of any kind of meat, and voilà. It’s easy.”
“You are going to call it Daddy Hinkle’s All In One?” she said.
“Maybe, look at the label I made for Florida.”
 “It’s nice, but you designed a label just for Florida?” she said. “I don’t know how that is going to work. What if you want to sell in Texas or Illinois, or in any other parts of the country?” she said.
“Well, I want to start with the Old South Florida Marinade for the Florida market—principally to sell to Publix. I can get a co-packer down there in Florida, and have it bottled down there and sell direct to Publix,” I said.
“It’s nice, but…,” she said.
“After I get going in Florida, I can offer the All In One to KeHe Foods and label it for the Texas and even the Chicago market. Look at the labels I did for Chicago and Texas.


"I think it is going to be hard to sell it if you do it that way. I think one label would be better. Why not just call it Daddy Hinkle’s All In One?” she said.
“I don’t know why not, but the idea of changing the  marinade to suit the taste and labeling it for different markets appeals to me. Of course, you are right, it would be easier to have one label and sell the same marinade everywhere."
"I am always right." She laughed.
"Yes you are," I agreed. "We could also do different labels for different types of meat instead of for different markets. We could make an “All In One Marinade” label for Chicken, and for Steak, and for Pork, and so on."
"That's not a bad idea," she said.
"It's not,  but I like the idea of starting with a marinade for the Florida market that works on all kinds of meat, and that works especially great on fish. I really want to sell to Publix and bottle the marinade in Florida. I even want to put ‘Made in Florida for Daddy Hinkle’s’ on the label.”
“Well, you have some big ideas.” she said."Your business plan sounds like a story from your book, A Life UnchartedI hope it all works out."
“Me too,” I said. “I think starting with Publix in Florida is a good idea, because think how many people come to Florida for vacations and also spend the winter down there. When they go back home, they will want to buy the Old Florida Style Marinade back home too.”
“That is a good point. Maybe you’re right,” she said.
“Hope so.” I laughed. “There is a first time for everything.”
"When do think you'll have it ready to go to market?" she asked.
"Maybe by this summer. There is a lot to do."
"Well, good luck and let me know when you have some available. I'll test it out." She laughed. "If I live, I'll recommend it to everyone."