Results of sensitivity analysis for the financial model for small-scale fenced game ranch.

*Where some initial capital costs (fencing, stock capital) treated as sunk costs but still requiring maintenance and repairs and replacement.
**Where ranch leases site to an operator who pays an annual rental amounting to 4% of lodge turnover.
***Where ranch owner develops lodge and where ranch model incorporates lodge net cash income (annual lodge net profit) as additional income only. Net cash income amounting to 15% of lodge capital investment.