Caviar is a delicacy consisting of salt-cured fish-eggs of the Acipenseridae family. The roe can be "fresh" (non-pasteurized) or pasteurized, with pasteurization reducing its culinary and economic value.
Traditionally the term caviar refers only to roe from wild sturgeon in the Caspian and Black Sea (Beluga, Ossetra and Sevruga caviars). Depending on the country, caviar may also be used to describe the roe of other fish such as salmon, steel-head trout, trout, lump-fish, whitefish, and other species of sturgeon. Caviar is considered a delicacy and is eaten as a garnish or a spread.
Starting a caviar business can get you on the path to a secure financial future as long as you separate yourself from the competition. This article contains a friendly, comprehensive guide that demystifies what it takes to be successful.
Thinking about opening a caviar business? We tell you what you need to know to get started.
Best Practices: Business Plans for Caviar Businesses
A great business plan will lay a strong foundation for growth in your start-up caviar business.
Business plans address a wide range of issues, including startup financials. Not surprisingly, lenders immediately turn to the financial section and use the accuracy of your forecasts to gauge the value of other parts of the plan.
Subsequently, a thorough understanding of business plan financial basics is a prerequisite to effective business plan writing for caviar businesses.
Varieties
The four main types of caviar are Beluga, Sterlet, Ossetra, and Sevruga. The rarest and costliest is from beluga sturgeon that swim in the Caspian Sea, which is bordered by Iran, Kazakhstan, Russia, Turkmenistan, and Azerbaijan. Wild caviar production was suspended in Russia between 2008 and 2011 to allow wild stocks to replenish. Azerbaijan and Iran also allow the fishing of sturgeon off their coasts. Beluga caviar is prized for its soft, extremely large (pea-size) eggs. It can range in color from pale silver-gray to black. It is followed by the small golden sterlet caviar which is rare and was once reserved for Russian, Iranian and Austrian royalty. Next in quality is the medium-sized, gray to brownish osetra (ossetra), and the last in the quality ranking is smaller, gray sevruga caviar.
Cheaper alternatives have been developed from the roe of whitefish and the North Atlantic salmon. The American caviar industry got started when Henry Schacht, a German immigrant, opened a business catching sturgeon on the Delaware River. He treated his caviar with German salt and exported a great deal of it to Europe. At around the same time, sturgeon was fished from the Columbia River on the west coast, also supplying caviar. American caviar was so plentiful that it was given away at bars for the same reason modern bars give away peanuts - to make patrons thirsty. In the wake of over fishing, the harvest and sale of black caviar was banned in Russia in 2007. There was an unsuccessful effort to resume export (in 2010, limited to 150 kg).
Caviar preparation
Preparation follows a logical sequence that has not really evolved over the last century. First ovaries are removed from the sedated female sturgeon and passed through a sieve to remove the membrane. Freed roes are rinsed to wash away impurities. Roes are now ready to become caviar by adding a precise amount of salt for taste and conservation. The fresh preparation is tasted and graded according to quality. Finally, the golden eggs are packed into lacquer lined tins that will be further processed or sold directly to customers.
Suppliers
In the early 20th century, Canada and the United States were the major caviar suppliers to Europe; they harvested roe from the lake sturgeon in the North American mid west, and from the Short-nose sturgeon and the Atlantic sturgeon spawning in the rivers of the Eastern coast of the United States. Today the Short-nose sturgeon is rated Vulnerable in the IUCN Red List of endangered species and rated Endangered per the Endangered Species Act. With the depletion of Caspian and Black sea caviar, production of farmed or "sustainable" caviar has greatly increased. As well as Canada and the United States, Uruguay has become a major producer and exporter. In particular, northern California is reported to account for 70% to 80% of U.S. production. In addition, a "no-kill" caviar harvesting technique has been developed in Germany and implemented in California.
In 2009, Iran was the world's largest producer and exporter of caviar, with annual exports of more than 300 tons, followed by Russia. Iranian expertise helped China produce ten tons of farmed caviar in 2013.
According to Eric Ripert, chef and proprietor of Le Bernadin, a leading seafood restaurant in New York, and Jean Francois Bruel, chef of Daniel, a Michelin rated restaurant in Manhattan, the best caviar on the market is produced by Kibbutz Dan in Israel. The kibbutz produces 4 tons of caviar a year. The farm is fed by the Dan River, a source of the Jordan River.
Uruguay produces (Black River Caviar) some of the finest Acipenser Gueldenstaedtii (Russian/Iranian Ossetra) currently on the market, their production process is organic and 100% sustainable. The sturgeon is raised in 8000 hectares of river delta allowing the fish to live as conditions in the wild. This particular river delta is the first best choice outside the Caspian Sea to raise Caspian Sturgeon.
Italy is the world's largest producer and exporter of farmed caviar, 25 tons in 2013.
However, the ban on sturgeon fishing in the Caspian Sea has led to the development of aquaculture as an economically viable means of commercial caviar production. Caviar Court, in Dammam, Saudi Arabia, was established in 2001 and began harvesting caviar in 2007. It produced about five tons per year in 2011 and is building a larger facility in AbuDhabi hoping to produce 35 tons by 2015. In Spain, a fish farm called Caviar de Riofrio produces organic caviar. In Canada, a sturgeon farm called Target Marine Hatcheries is now the first producer of organic caviar in North America called "Northern Divine".
Look Over Competitors
Prior to launching a caviar business in your area, it's a smart move to determine how you will fit in the competitive landscape. We've provided the link below to help you generate a list of competitors near you. Simply enter your city, state and zip code to get a list of caviar
Before you open up shop, make sure you know what you will offer to your customers that provides a significant advantage over your competition's offering.
Learning More About the Industry
If you want to open a caviar business be sure to talk to somebody who is already in the business. If you think your local competitors will give you advice, you're being overoptimistic. The last thing they want to do is help you to be a better competitor.
However, an entrepreneur who owns a caviar business in another town may be more than happy to give you a few tips, provided that you won't be directly competing with them. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
How do you locate an entrepreneur who is running a caviar business in a different locale who can assist you?
Easy. Find them using our link below and start calling until you are successful.
Caviar Business Acquisitions: Financial Considerations
Startup caviar businesses carry a host of financial risks and concerns. Without an operational history, it's hard to predict how your start-up will actually perform in the marketplace.
Financial risk management requires you to at least consider the possibility of setting your startup plans aside to explore acquisition opportunities. Many entrepreneurs buy an existing business for the sole purpose of tapping into the financial benefits of an established customer base.
An acquired business also has documented assets and earnings - a big advantage with lenders and investors.
Franchising May Be a Better Way to Go
Recognize that your chances of growing your business go up significantly if you buy a franchise instead of doing it all on your own.
If you are thinking about opening a caviar business, you may want to assess whether purchasing a franchise might make your life much easier.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
When Caviar Delights was bought by its present owner from a bankruptcy court, the company had been out of business for more than two years and had only a handful of sales in the year prior to its demise. By closely following this informal business plan—and using his own cash and credit—the new owner took Caviar Delights from $0 to $2 million in sales in the firm's first year of operation. Contributor: Scott Lockett of Tindell Associates.
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