CLEMENT ROCK BUSINESS PROFILE Prepared by Earlyn Shuffler February 8 th 2008 For The Inter-American Institute for Cooperation on Agriculture (IICA)

Clement Rock Ecotours & Cottages Introduction It’s been a pleasure working with the IICA Team and Mr Jose’ Holligan, the owner of this farm, which we will discuss today. Jose’ is as excited when he is discussing tourism, as when he is telling you about his life as a small farmer and business owner. He a great tour guide and makes his gully tour an exciting experience. He has already started to position his farm to enter the agritourism business by renovating two buildings as country vacation cottages.

Clement Rock Ecotours & Cottages Site Description: Clement Rock is a small farm of about 30 acres, which is owned by Mr Jose’ Holligan. He is currently producing crops of bananas, fresh vegetable, various herbs and sugar cane. He also has a small fruit orchard and maintains a flock of sheep and some pigs.

Clement Rock Ecotours & Cottages Location & Concept Design

Panoramic View of East to West Coast

Clement Rock Ecotours & Cottages Business Opportunity: There is an opportunity for Mr. Holligan to diversify his business by creating an agritourism product, which would allow him to increase trade with the tourism sector and generate supplemental income streams with increased revenues from new activities and services that are community based.

Clement Rock Ecotours & Cottages Site Description: The farm includes a very mature gully, which is easily accessible and would be ideal for hiking tours. There is also a Great House, which is about 100 years old and two old buildings, which are being converted to cottages. The farm is in a unique location, which provides an incredible panoramic view spanning from the East Coast to the South Coast and the Bridgetown Port.

Main Driveway with Mature Landscaping

Clement Rock Ecotours & Cottages Project Description: Great House, which will be redeveloped to include the following: Reception Area and Gift Shop Antique Shop and Art Exhibition Restaurant/Kitchen, Balconies and a Viewing Platform Washroom Facilities

Great House

Clement Rock Ecotours & Cottages Project Description: Clement Rock Ecotour, which will be developed to include the following: A walk through the Orchard A Gulley Hike Farm Tour (Animal Encounter, Banana Patch, Fresh Crop and Herb Garden) Relaxing on the viewing platform and enjoying the unique scenery.

Clement Rock Orchard

Young Sugar Canes

Clement Rock - Pigs

Barbados Black Belly Sheep

Clement Rock – Royal Palms in Gully

Royal Palms in Gully

Stalactites in Gully

Clement Rock Ecotours & Cottages Project Description: A Country Vacation, which would include the following: Four cottages to be built for short-term stays with full services provided. The cottages will be enclosed with a garden area and an outdoor Jacuzzi to offer an experience of relaxed country life in a healthy environment. Fresh fruits and juices will be provided by the restaurant as part of the daily menu.

Clement Rock Cottages – being renovated

Clement Rock Ecotours & Cottages Project Description: Catering Services, which would include the following: Wedding receptions Corporate functions Family reunions Karaoke parties Special entertainment events

Clement Rock Ecotours & Cottages Financial Requirements: Estimated Project Cost include: Improvements & Dev. = $450K Equipment Cost = $80K Total Initial Investment = $530K Start-up Operating Cost = $50K Total Project Cost = $580K

Clement Rock Ecotours & Cottages Estimated Revenue/Expenses/Profitability Year One Year Two Year Three Year Four Year Five Rev. $47,500$95,000$172,500$267,500$352,500 Exp. $76,887$100,591$127,098$171,153$243,155 Profit ($29,387)($5,591)$45,402$96,347$109,345

Clement Rock Ecotours & Cottages The Investment Opportunity This project is expected to break-even by year two. It is estimated that an ROI of more than 18% can be achieved by year four. The Owner will provide $350,000 for Capital Development and start-up Operating Cost. An Investment Partner is needed to provide $230,000 to assist with the initial Capital Development of this business.

Clement Rock Ecotours & Cottages Business Owner: Mr Jose’ Holligan The design and development of this project can start immediately. Mr. Holligan has already invested in the renovation of two cottages (1 completed) and started the clean-up of farm land. Any interested investors or finance institutions are invited to meet with Mr. Holligan to discuss this opportunity.