A Georgia entrepreneur has managed a successful business formation involving one of the state’s natural resources. This businessman has made use of the natural supply of oysters to turn the oyster season into a yearlong process. The business formation began when the man realized that he could find a way to sell the oysters by the bag and not by the bushel.
Using his experience gained at the University of Georgia, he has discovered a way to cultivate single oysters. It was a method that has been sought for years, and the businessman has now captured this manner of cultivating oysters and started a successful business. Georgia oysters have about the same amount of meat as some of the larger Pacific Coast oysters, which make this potentially a very profitable business venture.
When a person begins a successful new line of business, it is important to consider the legal side of the business process. There are important legal steps to take in organizing a new business, including legal documents, contacts, patents and more. Financial planning is also an important part of the business process, as poor financial planning can be the downfall of any profitable organization.
Growing individual oysters has opened up a brand new segment of the seafood business. This business formation in Georgia appears to be off to a successful start, and the potential for continued success appears strong. To protect his success and his new business growth, he may wish to consider carefully planning and organizing all financial and legal aspects of his company as part of his overall business plan.
Source: GPB News, “Oysterman Turns Science Into Business,” Orlando Montoya, July 3, 2013