Do you need help starting a paper plate making company? If YES, here is a sample paper plate business plan template.
For every economic venture you engage in, there should be a plan. Without this, there will be no direction and your business will be headed for the rocks.
We will consider one of such manufacturing business opportunities which is paper plate making. This paper plate making business plan sample will show you how a good plan should look like.
PAPER PLATE MAKING BUSINESS PLAN GUIDE
Starting a paper plate making business is one profitable business to venture into as a wise entrepreneur as the market is not competitive yet like other manufacturing business.
If you are thinking of venturing into the manufacturing business on whatever scale (either on a micro or macro level), making and selling of disposable paper plates to buyers is in fact worth to be considered.
As a result of serious health hazard plastic plates and its related products are causing in the society, several countries have banned its use. This has given rise to the manufacturing of paper plates and other related products. Capitalizing on this business will surely pave way for you.
Starting the paper plate making business will be an opportunity for you to have a self-standing career, thus put on the shoes of a self-reliant entrepreneur. Paper plates making business has gained more ground because of its availability as well as its eco-friendly nature.
Here is a sample business plan for starting a paper plate manufacturing company.
- A Startup Plan
Preparing a business plan for your paper plate making business and acting in accordance with it will enable smooth running of your business. The document should highlight your financial requirements, business goals, competitive environment, marketing strategies you will use to attract your target audience, the resources needed for the business and so on.
Be informed that, it is not a must you write the plan yourself, you can employ a professional in the field to do that for you, but if you have adequate knowledge about it, then no harm is done.
- Arrangements of Startup Capital
It is said that capital is the foundation which a business is built. To start a paper plate making business you need to have the startup capital at hand or else it difficult to launch the paper plate making business.
It does not necessarily mean that you must have the exact capital needed to kick start your paper plate making business. You can raise capital from family members and friends, or better still, apply for a loan from financial institutions with your plan.
There are several new government schemes out there where you can get loan to set up your paper plate business without any collateral.
To request for a loan from any financial institutions, you are required to file a well-written plan. The business plan should contain all the detailed information on how you intend to run the paper plate business in a rewarding and profitable manner and how you plan to refund the loan at a specific time.
- Obey the Business Laws
Before you kick start your paper plate business, it is at your advantage you research about any possible or enabling laws, rules and regulations set down by the government to regulate the paper plate making business in your area.
Meet all the mandatory and necessary legal obligations and visit the respective authorities to obtain necessary documents. Worthy of mention in this regard is your business license which you are also encouraged to meet up with its requirements.
Having done this and comply with all the necessary laws, then you can proceed to the next thing you are expected to do before kick starting a paper plate making business.
- Factory Layout Plan
Immediately you are done with the paperwork and other legal issues related to your paper plates making business, you should come up with the paper plate factory layout, the position of different roads, the positions of the buildings and other constructions should be boldly indicated.
Map out enough space for the paper plate making machine and a storage space for the business raw materials.
- Find A Location
Your paper plates making business location should be situated in an area that is convenient and accessible for several transport carriers. Since you will be having a manufacturing unit the location of your paper plates business doesn’t play a vital role.
You can choose a location for the business in an interior area just ensure that you have a stable connectivity for the transportation, electricity, water supply and the likes.
- Get The Necessary Equipment
The major work of the paper plate manufacturing process is done by the machine designed for that purpose, so it is important at this juncture you obtain one. You can purchase the machine from an established brand supplier and further procuring other necessary paper plate raw materials from the respective supplier in your area. Do maintain a cordial relationship with both suppliers.
- Market Your Products
Now, as soon as you successfully begin producing paper plate products, market them through effective communication channels, such as the cable channel, radio stations, TV channel, newspaper, etc.
To make it go viral, you can embrace social media outlets where thousands of million around the globe can access your products simultaneously with little or no hindrance.
Lastly, as the paper plate market keeps evolving, ensure you maintain a very high-quality production at an affordable price to compete with your competitors in the paper plate making business.
Put in your best to implement few things and new strategies and ways to produce paper plates at the least cost effective way. With these, sky is the beginning of your success in the paper plates making industry.
PAPER PLATE BUSINESS PLAN EXAMPLE
If you wonder why you need help writing your plan, you should know that the failure of most businesses originates from their plans. These are either hastily prepared, thereby leaving out vital areas or the contents are not implemented.
This is summarized to enable you get its general direction at a glance. Contents of a detailed plan will include findings from your feasibility studies.
- Executive Summary
Disposables Inc. is a paper plate making business in Detroit. Our products are mainly disposable paper plates reinforced with polythene sheets. This makes them leak proof.
Our paper plates are made from paper materials that include greaseproof paper, millboard, kraft paper and grey board.
Our products are designed for all types of outdoor occasions for serving of snacks, pastries, sweets, cakes and many more.
Paper plates have become a mainstay in most types of occasions because it cuts down on expenses. Instead of buying or using standard utensils, these provide a better and cheaper alternative. We have identified this opportunity from its wide acceptance and seek to establish a thriving business that will meet demand.
- Our Products
We make different sizes and colors of paper plates. These are made from quality materials that include scrap and recycled paper to polyethylene sheets. Polyethylene sheets are used to stop leakages that may result from liquid or oily foods.
- Vision Statement
At Disposables Inc. we provide only the best disposable paper products. There is an increasing preference for the use of paper plates than standard utensils. To capture a good size of the market, we will provide only top quality paper plates. These will be second to none in the industry.
- Mission Statement
Our mission is to endear our market to our products. While paper plates are fragile, we are committed to making ours a lot sturdier and a bit more resistant to damages. In other words, we are providing quality products our end users will find reliable.
We are applying for a bank loan. This bank loan is being sourced at a reputable bank with an accruing monthly interest rate of 3 percent. The capital being raised through this facility is $700,000.00. This will be used in buying equipment and renting a space for our business while 20% of this amount will be kept aside as running costs.
- SWOT Analysis
We plan on starting our business on a solid footing. To this end, an analysis of our health has been done to enable use streamline our activities towards making the right effort in growing our business. The following are findings of this analysis;
Our paper plate making business is founded on the desire to offer quality products. We have recruited some of the best hands in the industry. These are people with previous experience in this industry. These people bring their expertise to bear in producing some of the best paper products in the industry.
Our competitors are formidable. These are paper plate making businesses that have been in operation for several years and have the capital as well as manpower. At our current capacity, competing with these businesses will be a difficult task. However, we are not giving up on our desire to be among the best paper plate makers.
Whether it is weddings, birthday parties, graduation ceremonies, religious functions, or picnics, paper plate products have increasingly come into use. The demand for these has influenced the establishment of our business. We see a great future for the paper plate making business and will be a company that offers quality products.
Threats to our paper plate making business exist in the form of unfavorable government policies that may be implemented. This will affect growth of the industry and push new businesses like ours out of business.
- Sales Projection
Demand for paper plate products is at the highest it has ever been. Our forecasts reveal an even greater opportunity for growth. A three year projected growth in sales holds a lot of promise for us as shown by this simple table;
- First Financial Year $200,000.00
- Second Financial Year $580,000.00
- Third Financial year $950,000.00
Apart from our state of the art paper plate making machine, we have a team that has depth in several key areas of running a business.
This includes administration, marketing, product design, quality control and customer care. These have been carefully selected and are some of the best any business will hope for. These will drive our growth plans efficiently.
We also have an attractive welfare package in addition to a work-friendly environment. This improves our work conditions and encourages increased dedication and productivity.
- Marketing Strategies
We have established a great relationship with major retail and wholesale businesses. These relationships are crucial to the steady demand for our products.
Also, our marketing plan is contacting hotels, major catering businesses among others to also patronize our products.
- Pricing Strategy
Pricing depends to a large extent on production costs. We have identified this and contacted major suppliers of the raw materials we need. These are more than willing to supply these materials to us at reasonable and discounted prices. This will lower our total production costs and allow us have one of the most competitive prices in the industry. This will not affect our profit margins.
This paper plate making business plan sample has outlined the key areas you should consider when writing your plan. You should ensure that you have as much information about your business as you can.
This allows you understand what information to write and under which section to include it. It is not a process to be rushed, but should be systematically approached.