Starting a Paper Bag Production Company – Sample Business Plan Template

1. Get in the right mindset

Nothing good comes easy. Your sojourn into paper bag production is not going to be rosy, so you have to be mentally prepared to take whatever comes; with respect to financial, operational and people’s problems.

2. Do your feasibility research

A feasibility study is very important as it gives you an insight into what you intend venturing into. Your feasibility report should provide details about who your customers are, your competitors, your market size, demographic, production process analysis, manpower analysis and risk sensitivity.

3. Come up with a business plan

You need a solid business plan to start your business; as this may also become a tool when you want to enter a business plan competition or raise capital for expansion. Who are your target prospects? How much would you need to kickstart your paper business? You must include these things in your business plan.

Mupuya had to come up with a detailed business plan; he inquired from his teachers, surveyed his environment and concluded that paper business is worth going into. You can actually start a paper business also. Just survey your surroundings. Remember, your location does not determine your prosperity. Like I always say “you won’t know it works unless you try it.”

4. Research with your city’s state legal structures

Does your community accept starting a paper bag company? Find out what it takes to start a business in your vicinity. Get to your state council to make every necessary inquiry.

5. Get a suitable location for production

6. Get the needed equipment

Well, let’s get back to Andre’s story. He won a $36,000 quit and his firm: YELI—became the best African startup amongst 13 finalists.

Here’s what he had to say about winning the award:

“The grand prize is a great honor for me. With this money I plan to expand my production capability and also build a paper recycling operation. I also plan to employ 60 people before the end of 2015. I also hope to have a paper plant at Namanve Industrial Park.’’

7. Get help, Employ more hands

Yes. The job is enormous and management intensive. You can’t handle it alone. Take full advantage of outsourcing. Mupuya had to engage the contract of 16 students to help him in producing paper bags; and today, they produce 20k paper bags and generate thousands of Dollars monthly!

8. Expand

Do you know why there are so many stagnant businesses today? It’s because a lot of entrepreneurs like to diversify a lot! Take your time to grow a business, before going into another; build that, then move on to another. Expand your business. It’s very important. If you are planning to start a paper bag business, then you must take your time growing it. Don’t diversify. It could weaken your foundation.

In conclusion, i want you to know that Africa is a potential market for paper bag production business. It’s possible for you to build a Multi-million naira industry by producing paper bags for the African masses. So why wait?

Come up with ideas that will make your IDEA more solid. Write a business plan and get started! Of course, you should carry out your feasibility research to determine if your city is a potential market.