Jan and Dave Bailey's big decision

Jan and Dave Bailey are at a critical stage in the process of deciding whether to establish an aquaculture operation, a mussel farm, in Newfoundland, Canada. Jan and Dave left the province many years earlier but recently returned and are investigating business opportunities. Mussel farming has a long history in the region, and aquaculture seems to be the way of the future-a renewable resource grown in pristine surroundings with little effect on the environment. Is mussel farming a viable business opportunity, or does the nature of the business and the disorganized state of the industry in Newfoundland make the venture too risky? The case presents Jan and Dave at the point of a major decision. Dave seems to be captivated by the idea; Jan sees the potential but also the very real risks. They must develop a business plan for a mussel farming operation to determine whether they should invest their savings in the venture. It is late January 1996. To be in operation for the 1996 season, their big decision must be made by mid-March.