Tarlton Beetroot Business Plan — Implementation Roadmap

The staged programme from seed tranche through the Series A gate to full production, with the test at each stage.

Section 21 of 37

Implementation Roadmap

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Sixty months across five workstreams, with the critical path running through water verification, land transfer and packhouse commissioning.

Implementation roadmap by workstream, months 1 to 60
Figure 1. Implementation roadmap by workstream, months 1 to 60.

Table 31 Milestones and dependencies

Month

Milestone

Phase

Dependency and consequence of slippage

1

Tranche A closes; Tarlton lease signed

Pre-launch

Nothing precedes it. Slippage moves the entire programme.

3

First hectare planted

Pre-launch

Irrigation commissioned and land prepared. A one-month slip loses the first harvest window.

6

First commercial harvest and market consignment

Launch

Market agent appointed. Establishes the grading track record retail buyers will later assess.

12

LocalG.A.P. achieved; area expanded to 3 ha

Launch

Prerequisite for the GLOBALG.A.P. pathway.

14

Land search formally commenced

Ramp-up

Runs in parallel; 12 months is a realistic search-to-offer period for a water-entitled property.

18

First retail category buyer engagement

Ramp-up

Requires certification in progress. Late engagement is the single most common cause of Year 4 volume falling back onto the market floor.

22

Preferred property identified; due diligence begins

Ramp-up

Critical path. Water verification is the long pole and takes 8 to 12 weeks.

24

Series A first call (62 per cent) drawn

Ramp-up

Conditional on verified water entitlement and signed sale agreement.

26

Transfer registered; mortgage bond drawn

Ramp-up

Conveyancing typically 8 to 12 weeks from acceptance. Slippage delays the entire Phase 2 planting programme by a season.

28

Bulk irrigation commissioned

Ramp-up

Critical path. Cannot plant at scale without it.

30

Series A second call (38 per cent) drawn; first 34 ha planted

Ramp-up

Conditional on irrigation commissioning and first retail trial completed.

34

Packhouse commissioned

Scale-up

Critical path for the retail channel. Every month of delay costs approximately R0.20/kg on volume that must be contract-packed instead.

36

GLOBALG.A.P. certified; first EBITDA-positive month

Scale-up

Certification is a precondition for the first supply agreement.

38

First seasonal retail supply agreement signed

Scale-up

The commercial hinge of the plan. Without it, Year 4 realisation falls to roughly R6.60/kg and the base case fails.

48

Second retail agreement; area extended to full 62 ha arable

Expansion

Requires the R7.5 million working capital facility to be in place.

60

Steady state; exit readiness

Expansion

Normalised EBITDA of R7.40 million supports the sum-of-parts valuation.

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