Brothers move from academics to business
In Belize and most any part of the developing world there is no shortage of academically trained consultants, all too ready to advise budding entrepreneurs on how to spend their hard-earned money. But it’s a rare day when one of those consultants puts his own cash on the line and joins the rest of the private sector in the daily battle to hustle a living. Stewart Krohn reports.
Stewart Krohn, Reporting
Two brothers from Belmopan, one holding a doctorate in economics; the other a doctor of dentistry…not exactly the kind of guys you’d expect to find in the fruit and vegetable business. But Louis Zabaneh and Douglas Smith know that the development of Belize rarely springs from the pages of a textbook.
Louis Zabaneh, Managing Dir., D&L Produce
“We’re trying to find the right formula where we get the inputs from our customers, we get the inputs from our suppliers. We have a good working environment for our employees and hopefully that will work; but definitely a lot of pressure.”
That pressure comes from an investment of almost seven hundred and fifty thousand dollars, much of it borrowed from the D.F.C., to set up a processing plant, along with three refrigerated trucks and a thirty-eight foot refrigerated boat. The idea is to purchase top shelf foods from farmers and fishermen and move them to resorts in Cayo, Placencia and the cayes.
The aim is to provide the growing tourism industry with a dependable supply of high quality produce.
Louis Zabaneh
“We saw and opening there for quality. The competition that we have there really is serving a different level. The stores where the produce comes in a little dusty, a little bruise and it’s accepted. But the high end resorts, they want a very high quality produce and we believe that, as I said, putting the right formula together that we can deliver that kind of product to them. So indeed, it’s quality that we’re looking at.”
Douglas Smith, Dir., D&L Produce
“We’re catching it right at a perfect time. I could say we’re kind of the first that started to give this type of service to the industry. Now all these resorts and stuff don’t need to shop anywhere but with us.”
While the concept appears sound, the brothers and their employees will still have to move an awful lot of potatoes and watermelons to pay back those loans. But if Louis Zabaneh is worried, he’s not showing it.
Stewart Krohn
“Now that you have put your money where your mouth is, you sleep all right at night?”
Louis Zabaneh
“That’s a good question. Many nights we’ve stayed up wondering about…we’ve learnt a lot about what operating capital really means. And it’s been exciting, we’ve had some tough times, in the formal presentation after the hurricane and September eleventh we suffered quite a bit from that. But no waking up at nights with those challenges. It’s not a problem, we’ll take that along with the good stuff that comes with it.”
Reporting from the headquarters of D&L Produce in Belmopan, Stewart Krohn for News 5.
In the future D&L Produce plans to get into the production of certain specialty fruits and vegetables that are now available only from abroad.
