Overview of Business Operations Plan:
Whiteout’s Ice Fishing company offers the solution to the high costs and difficulty associated with ice hut transportation by providing a range of services directed at maintaining a cost effective, safe and high-quality ice fishing experience to all costumers along with the following additional services; equipment rentals, minnow purchasing/delivery and wood delivery. Our objective is to provide an opportunity for individuals with limited access to enjoy the ice fishing activities that Northern Ontario offers. I hope to attract and maintain a large and loyal client base by the end of these final 6 weeks and hopefully make a sizeable profit as well.
Legal forms will impact my business. I have to decide if I will have sole proprietorship and therefore unlimited liability or general partnership (perhaps more likely if the business is run at my family home). Furthermore, each province and territory has its own business registration rules and registration is required if you are operating a business under any name other than your own exact first and last name, which I am under Whiteout’s Ice Fishing. Tax considerations are another important factor. For example, with my current business model (buying minnows and wood and then reselling), there will be two levels of sales tax.
It is also important to be aware of any regulatory factors involved in towing/ transportation. In Ontario there are licence and registration requirements for tow trucks for example, which include safety tips to follow and considerations as to the size, power and condition of the tow vehicle. It is also important that any motor vehicles that will be used are properly insured.
If I were to provide food and beverages to customers I would be regulated by the CFIA and be responsible for meeting applicable legal requirements under the Safe Food for Canadians Act (SFCA), the Safe Food for Canadians Regulations (SFCR), the Food and Drugs Act (FDA) and the Food and Drug Regulations (FDR). This includes selling products – even if they I am doing it on a small scale (i.e. my own home). Provincial and territorial requirements may also apply. Ontario and Canada-wide COVID-19 restrictions and guidelines may also impact my business operations.
In order operate this business, ice fishing and towing equipment such as ice augers, fishing line, ice scoops, rod, reel and jig combos, fish finders, and mostly importantly, a motor vehicle (i.e. snowmobile/four wheeler) with towing accessories are necessary. The business is based out of my home and already is equipped with the capacity and functionality for a business setup. My family are avid fishers and therefore all of the equipment needed I already have access to (excluding any equipment I would need to replace upon damage/use throughout the season). Some items I will need to continually purchase are wood and minnows, which will have to be sourced from local businesses throughout the season.
Good inter-business relationships are another goal of Whiteout’s Ice Fishing. It may be a good idea to reach out early on to local businesses and set-up a mutually beneficial transaction. A good social media/online marketing strategy will also be helpful and assist in avoiding costly ad services. Business could operate more smoothly with ice picks and tire chains (to assist with towing) as well. I plan on investing in these items gradually as I begin to make a profit. In the future, with the hopes of expanding business, I may also consider delving further into ice hut rental business since Whiteout’s Ice Fishing only has access to one ice hut (located on Wasi Lake), however this is not the current focus of the business.