A $1 million Business Opportunity! - Hawaii News Now - KGMB and KHNL

A $1 million Business Opportunity!

HONOLULU (KHNL) - They say there is a $1 million opportunity for a local company to provide animal control and land management services to the state. A study funded by the Nature Conservancy of Hawaii for the Forest Recovery Project suggests a great business opportunity.

Tetra Tech EMI completed the survey and reported results, Thursday, at the Hawaii Conservation Conference. The University of Hawaii Pacific Business Center program also participated in the project.

"With so much work needed to protect our natural resources and agricultural lands from the harmful impacts of invasive species, it seemed there must be a business opportunity here. So, we contracted the market study as a part of our Forest Recovery Project," said Suzanne Case, Executive Director of The Nature Conservancy of Hawaii. "I am very pleased that this report suggest there is a significant opportunity for a locally-owned and operated business."

The survey included land owners and managers responsible for half the land in the state, equivalent to two million acres. 78% of the respondents noted the need for plant management, and 56% for fencing services. Of the surveyed, 75% of people said they would be interested in hiring a local company to provide land management services. Included is a brief report on the current land management services industry in Hawaii, and it discusses possible opportunities in the Pacific region. There are also optimistic and pessimistic scenarios for business success which includes forecasted start up costs, staff, and operating estimates. Other factors that could influence the success of a local business include sufficient capital to start the business, experience and local connections, and compliance with local laws and regulations.

Respondents indicated a willingness to spend more than $5 million per year on outside services to address top land management issues. Over $4 million is currently being spent per year on outside services. Therefore, there is approximately $1 million left for a local business opportunity for an individual company.

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