This article is part of a seven-chapter story following Gus on their journey to start a Seafood Business. Inspired by the guide How to Start a Seafood Business: Complete Guide, the series blends practical steps with storytelling to show what starting a business really feels like.
Writing a Business Plan for a Seafood Business
The blank document cursor blinked like a lighthouse beacon as Gus sat down Tuesday morning to tackle the task that had been haunting him since his bank meeting. Patricia Williams had been clear: “I need to see your thinking on paper, not just your enthusiasm in person.”
A business plan. Three decades in the fishing industry, and he’d never written anything longer than incident reports and shipping manifests. But if a loan officer needed to see his vision translated into formal language, he’d learn to speak her language.
His first Google search—”how to write a business plan”—returned 847,000 results in 0.23 seconds. The internet’s confidence was inversely related to Gus’s own. He clicked on the third result, which promised a simple template that wouldn’t require an MBA to understand.
What Framework Should Guide the Plan?
The template appeared straightforward enough, like a fishing checklist adapted for landlubbers:
Universal Business Plan Template
- Executive Summary – Quick overview of the business, problem solved, and goals.
- Business Description – What the business does, who it serves, unique selling point.
- Market Analysis – Industry overview, target customers, competitors, positioning.
- Business Model & Operations – How the business runs, setup (home, mobile, commercial), suppliers, systems.
- Marketing & Sales Strategy – Pricing, marketing channels, sales approach, customer experience promise.
- Management & Team – Owner’s role, partnerships, employees, advisors, outside professionals.
- Financial Plan – Startup costs, ongoing expenses, revenue streams, profit potential, cash flow basics.
- Funding Needs – Capital required, sources of funding, how funds will be used.
- Long-Term Goals & Exit Strategy – Growth plans, expansion, possible exit options.
Nine sections. Gus printed the template and pinned it above his makeshift office space. Each section would force him to articulate decisions he’d been carrying around in his head like loose change in his pocket.
How Does His Vision Translate to Paper?
By Wednesday evening, Gus had filled eighteen pages of legal pad paper with notes, crossed-out sentences, and arrows connecting related ideas. The writing process was revealing gaps in his thinking that conversations and research hadn’t exposed.
He started over Thursday morning, typing directly into the computer this time, forcing himself to organize thoughts into coherent paragraphs:
Gus’s Seafood Market Business Plan
1. Executive Summary
Harbor Fresh Seafood will be a specialty retail seafood market located in downtown Portsmouth, New Hampshire, serving customers who value quality, freshness, and expertise over convenience and low prices. The business addresses the gap between expensive gourmet seafood boutiques and large chain stores that treat fish like any other commodity.
The market will leverage owner Gus Thompson’s thirty years of commercial fishing industry experience to provide customers with the freshest locally sourced seafood, accompanied by expert advice on selection, preparation, and cooking methods. Initial funding requirement is $90,000, with projected break-even within eight months and net profitability of $48,000-60,000 annually by year two.
2. Business Description
Harbor Fresh Seafood will operate as a brick-and-mortar specialty retailer focusing on fresh, locally sourced fish and shellfish. The business will serve both individual consumers and local restaurants seeking high-quality seafood with reliable supply and expert sourcing.
Unlike larger competitors who emphasize variety and convenience, Harbor Fresh will differentiate itself through expertise-driven service, traceability of products, and relationships with local fishing operations. The unique selling proposition centers on “Fresh from the boat, guided by experience”—combining superior product quality with knowledgeable customer service.
3. Market Analysis
The seafood retail market in the Portsmouth area currently includes three chain grocery stores with seafood counters, two independent fish markets, and approximately fifteen restaurants purchasing seafood regularly. Market research indicates strong demand for higher-quality options, with customers currently driving to Portland or Boston for premium seafood purchases.
Target customers include health-conscious professionals aged 35-65 with household incomes above $65,000, local restaurant owners seeking reliable suppliers, and seafood enthusiasts willing to pay premium prices for superior quality and service. Secondary markets include catering customers and special event planners.
Competitive analysis reveals that existing players compete primarily on price or convenience, leaving opportunity for a quality-focused business that can educate customers and build long-term relationships.
4. Business Model & Operations
Harbor Fresh will operate from a 1,200 square foot retail space in downtown Portsmouth, featuring refrigerated display cases, processing area, and customer service counter. Daily operations will include sourcing fresh seafood from local boats and trusted suppliers, processing and preparing products for retail sale, while providing excellent customer service.
The business will maintain relationships with local fishing operations for direct purchasing, regional distributors for specialty items, and backup suppliers to ensure consistent inventory. Initial staffing will be owner-operated with part-time help during peak periods.
Operating hours will be Tuesday through Saturday, 10 AM to 7 PM, with Sunday hours during peak seasons. Monday closures will allow for deep cleaning, inventory management, and administrative tasks.
5. Marketing & Sales Strategy
Pricing strategy will position Harbor Fresh as premium but accessible, typically 10-15% above chain store prices but 20-25% below high-end specialty markets. Revenue streams will include retail sales (70%), restaurant wholesale (20%), and prepared foods/catering (10%).
Marketing will emphasize personal relationships, word-of-mouth referrals, and community engagement. Initial promotional activities include grand opening events, sampling programs, cooking demonstrations, and partnerships with local restaurants and chefs.
Customer experience will focus on education and service. Every customer will receive information about product origin, preparation suggestions, and storage recommendations. Satisfaction guarantees and seasonal pre-orders will build loyalty and predictable revenue.
6. Management & Team
Gus Thompson will serve as owner-operator, leveraging thirty years of commercial fishing industry experience. Professional support team includes Elizabeth Foster (legal), Robert Pierce (accounting), Patricia Williams (banking), and Rebecca Morris (insurance).
Initial staffing will be owner-operated with part-time assistance during peak periods. As revenue grows, the business will add one full-time employee within eighteen months, focusing on customer service and basic seafood preparation skills.
Advisory relationships with Danny Herrera (Herrera Fish Market) and Maria Santos (SBA business counselor) will provide ongoing guidance and industry insights.
7. Financial Plan
Startup costs total $87,000, including $18,000 for space preparation, $52,000 for equipment, $8,000 for initial inventory, $4,000 for permits and licenses, $3,000 for insurance deposits, and $2,000 for initial marketing.
Monthly fixed expenses of $8,400 include rent ($2,800), utilities ($400), insurance ($890), loan payments ($1,100), professional services ($200), permits and licenses ($150), marketing ($500), and miscellaneous expenses ($360).
Revenue projections show monthly sales growing from $12,000 in month one to $22,000 by month twelve, with gross margins of 45-55% depending on product mix. Break-even projected at month eight, with annual net profit of $48,000-60,000 by year two.
8. Funding Needs
The business requires $90,000 in startup capital, to be secured through an SBA-backed small business loan. Gus will contribute $15,000 from personal savings as down payment, demonstrating personal investment in the venture’s success.
Loan proceeds will cover equipment purchases ($52,000), facility preparation ($18,000), initial inventory ($8,000), working capital ($7,000), and contingency reserve ($5,000). Personal living expenses during startup phase will be covered by severance package and unemployment benefits.
9. Long-Term Goals & Exit Strategy
Year one goal is achieving consistent profitability and establishing customer base. Year two will focus on expanding prepared food offerings and catering services. Year three may include second location or franchise opportunities, depending on market conditions and available capital.
Long-term exit strategy could include sale to employee, acquisition by larger regional chain, or family succession if children express interest. The business is designed to be sustainable and transferable rather than dependent on owner’s daily presence.
Does the Plan Hold Water?
Friday morning, Gus printed the completed business plan and read it like a contract he was about to sign. Twenty-two pages of decisions, projections, and commitments that would define the next phase of his life. The document felt both comprehensive and insufficient—how could thirty years of experience and months of research be distilled into sections and bullet points?
But something had happened during the writing process. Fuzzy ideas had crystallized into specific strategies. Uncertain timelines had become measurable milestones. The business had evolved from concept to blueprint, complete with dimensions and specifications.
He called Maria Santos at the SBA for a final review. Her feedback was practical and encouraging: strengthen the competitive analysis section, add more detail about supplier relationships, clarify the timeline for profitability. Minor adjustments, not major surgery.
“The plan shows you’ve done your homework,” she said. “Banks want to see that you understand both the opportunity and the obstacles. This document demonstrates both.”
The revised version incorporated her suggestions and addressed the questions Patricia Williams had raised during their preliminary meeting. Financial projections were conservative but realistic. Market analysis was thorough but not academic. The executive summary captured the essence without drowning in details.
Will It Convince the Right People?
Sunday evening, Gus printed the final version and assembled it with tabs, charts, and supporting documentation. The package felt substantial in his hands—evidence of serious intent rather than wishful thinking.
More importantly, the plan had convinced him. Writing it had forced him to confront every assumption, challenge every projection, and defend every decision. The business wasn’t guaranteed to succeed, but it was positioned to compete.
His loan appointment was Tuesday at 2 PM. Between now and then, he’d practice presenting the key points without reading directly from the document. Patricia Williams would want to see confidence backed by preparation, not nervousness disguised as humility.
The plan was ready. The question was whether Gus was ready to bet his future on it.
Monday night, he placed the bound document on his kitchen table and called Jane.
“The business plan is finished,” he said.
“How does it look?”
Gus glanced at the document, its clean pages representing endless hours of research and weeks of writing. “Like something I could actually do.”
For the first time since his layoff, those words felt true.
Next Moves:
□ Present business plan to loan officer with confidence and supporting documentation
□ Prepare responses to anticipated questions about market competition and financial projections
□ Schedule follow-up meetings with legal and accounting advisors for business formation steps
See the guide Gus used: How to Start a Seafood Business: Complete Guide
You’ve just finished Chapter 4. The journey continues in Chapter 5, where Gus chooses a name, forms the Seafood Business, and secures the right support in Legal Formation, and Funding.