Writing a good coal mining business plan largely depends on what you want to see actualized. It’s about proper structuring and implementation of the business idea. If you need help writing your plan, we’re here to offer it.
This article provides a guide to follow to arrive at your objective.
COAL MINING BUSINESS PLAN PDF SAMPLE
Mining gold or coal is a serious business that requires all of the work and planning necessary to succeed.
First off, your energy will need to be focused on how to launch. Your business plan contains all such strategies from the name the business will be called by to its employees and more.
Basically, there are 7 key sections of a plan you should consider. These should form the building blocks on which the article is written.
They include the executive summary, company description, and products & services section.
Others are the market analysis, strategy & implementation, organization & management team, and the financial plan & projection sections.
i. Executive Summary
The executive summary section should appear at the start of your coal mining business plan. This is the first section any reader sees when they open the plan. It’s rightly positioned to serve as an overview of the plan.
As the name implies, this section must be brief but capture essential aspects of the plan.
Key subsections to include are your business name & location, products & services, mission & vision statements as well as the purpose of the coal mining business plan.
The executive summary should be easy to read through.
In other words, it should be only a few pages long (about 3 to 5 pages) but hold vital information. Plus, it should be interesting enough to hold the reader’s attention.
- Business Name & Location
Every introduction of a business should begin with the provision of the business’ identity.
Here, the name serves as its identity. You’re expected to have picked a suitable name for your coal mining business before now.
Also, there’s a need for stating its location. Since we’re talking about coal mining, it’s only logical that the business should be located around a coal mining site.
- Products & Services
It’s obvious from the type of business that you’ll be involved in coal mining.
Of course, the resulting products will be coal. However, it’s important to include any other service or product you wish to sell. This will depend on whether you wish to offer any of such.
- Mission & Vision Statements
Your vision statement should be about your coal business’s planned future. This is largely based on your core ideals. One thing stands out in a vision statement; it should inspire.
Here, your employees as well as any reader should feel inspired when they go through it.
What more? A vision statement should chart a long-term roadmap for the execution and actualization of your business’ overall strategies. The mission statement on the other hand is all about the implementation of the vision.
It’s about the “how.” It should also capture the overall value of your products.
- Purpose of the Plan
Without purpose, there’s little you can achieve.
As such, your coal mining business plan should have a purpose from the onset. Asides from set strategies, what other purposes do you wish to accomplish with the plan?
For many, securing investors will be critical. You’ll have to carefully brainstorm on this area.
ii. Company Description
This next section of your business plan should explain what your business is about, its mode of operation as well as the goals targeted. Information on the legal structure of the business must be provided here.
Also important is the need for a brief history of the business and the demands you seek to fill.
What more? There should be covered on your coal products plus any services offered. You’ll also need to demonstrate an understanding of your target market.
Have a summary of company growth included with financial and market highlights.
In addition to the above points, have a summary of short and long-term business goals. Of utmost importance is the need to state how you plan on making a profit.
iii. Products & Services
Your mining products as well as other related services must be described in detail.
One major area to focus on is how these products and services are beneficial to clients. What’s the market role of your products and service? Provide such information as well as its edge over competitors.
iv. Market Analysis
Successfully launch your business; a thorough understanding of the coal mining industry is necessary.
This is demonstrated in a detailed analysis. Here, your market analysis should include a target customer segment sketch with a focus on size and demographics.
Industry outlook and description are also key.
Here, some statistics should be included that covers such information. What more? Consider including historical, current & projected marketing data regarding services and products.
Have an assessment of other competing coal mining businesses. Here, you’ll need to highlight their strengths and weaknesses.
v. Strategy & Implementation
Strategy and implementation are critical to sales and marketing. This section should provide detailed information on how you’ll promote and introduce your mining business to your target market.
You’ll need to provide information on costing, pricing and promotions.
It’ll be necessary to state exactly how your coal mining business will function. Such information should cover the operations cycle. Details on your labor sources as well as the number of employees are also crucial.
vi. Organization & Management Team
Your coal mining business’s organizational structure determines how smoothly it operates.
Here, the goal is to identify the owners, the management team as well as the board of directors. So, start with an organization chart that details the departments and key employees.
The owner’s names, percentage ownership as well as the extent of involvement are important.
What are their background and skills? Moving on to your management team, you’ll need to include information on their names, positions held as well as responsibilities and experience.
vii. Financial Plan & Projection
One of the things necessary for a sound coal mining business plan is to have competent help when writing the financial plan & projection section.
By competent help, we mean having a professional such as an accountant help out.
Here, historical financial data must be provided (this applies to established coal mining businesses). The historical financial data consists of income statements, balance sheets, and cash flow statements.
This coal mining business plan guide covers all the key areas anyone writing a plan should consider. It’s a lot of work that requires an equal amount of dedication. It’s important to never rush the process.
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