Starting a Conveyor Belt Manufacturing Company – Sample Business Plan Template
1. Conduct Your Feasibility Studies
Starting a conveyor belt manufacturing company is not one of those businesses that you can start without proper preparation and research. Part of what you can do to get started with your plans of owning a conveyor belt manufacturing company is to conduct your own feasibility studies.
Once you are able to conduct your own feasibility studies, it will give you a clearer picture of what you are up against, and how you are going to successfully confront and overcome it. So ensure that you pay experts to help you conduct a feasibility study and then follow through the report and recommendation you get from the feasibility studies. As a matter of fact, a well conducted feasibility studies will prepare you adequately for the business journey you are about to embark on.
2. Draft Your Workable Business Plan
The truth is that, once you are able to conduct a proper feasibility study, writing a good business plan will become easier. This is so because most of the report (statistics, facts and findings) you obtained from your research and feasibility studies will be what you would need to come up with a good business plan that can pass reality check once it is subjected to it.
So if you know you are not skilled in writing business plan, it will be to your best interest to pay experts to help do it – starting a company of this magnitude is worth your investment. A conveyor belt manufacturing company can grow to become a multinational if properly planned and managed; so give the business plan all the attention and seriousness it deserves.
3. Raise Your Startup Capital
No doubt starting a conveyor belt manufacturing company can be capital intensive and that is the reason why you must put in place plans to raise capital. Of course the modalities to follow to raise your startup capital should be captured in your business plan. There are several ways you can raise startup capital for your business. Just ensure that you adopt the one that is suitable for you. As a matter of fact, it will pay you to raise business partners for this kind of business. But if you know you have the capacity to single handedly raise the required capital, then you can own the business alone.
4. Incorporate Your Company and Obtain Your Business License
You can talk to a lawyer to help you incorporate your business; you would only need to pay a moderate fee to get it done. Once you have incorporated your company, you would be required to obtain a license to be able to start your own conveyor belt manufacturing company. The truth is that you cannot manufacture your own conveyor belt in isolation of what is obtainable in the industry; you are expected to follow the specification lay down by organizations such as International Standard Organization (ISO) et al.
5. Assembled Competent Team of Professionals
Starting a conveyor belt manufacturing company is not one of those businesses that can easily be started by an individual; you would need a competent team to work with. So ensure that you assembled a competent team that comprises of key professionals like mechanical engineers, electrical engineers, accountants, marketers, administrators and industrial designer et al.
6. Lease a Buy a Suitable Facility
You would need a large facility in area zoned for manufacturing companies. So all you need to do is to consult your real estate agent and inform them of what you are looking for. They are always well informed of zoning laws in the jurisdiction where they operate. Once you are able to secure a facility, the next thing to do is to construct your manufacturing plant and then install the machines needed. Of course you are expected to put in place all the required health and safety measures in your factory.
7. Market Your Product
There are specific markets for conveyor belts and it is your responsibility as a manufacturer to explore all available avenues to market your conveyor belts. In some cases you might have to look beyond your community or country for clients that would need your conveyor belts. The bottom line is that the market for conveyor belt is large simply because more and more organization finds it easier to automate the movements of materials in their factories and warehouses.
There you have it; the 7 surefire steps to follow to be able to start your own conveyor belt manufacturing company from the scratch and then build it to profitability within record time.
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