SOYBEAN OIL PRODUCTION BUSINESS PLAN GUIDE
Are you about to start a soybean oil production business? Are you about to write a business plan for this venture and do not know how to go about it?
Here is a sample business plan for starting a Soyabean oil company.
BUSINESS NAME: Strum Soyabean Oil Production Company
- Executive Summary
- Business Overview
- Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Target Market
- Source of Income
- Pricing Strategy
Strum soybean oil production company is a company that will be located in Raleigh, North Carolina in the United States. The main purpose of the establishment is to sell refined soybean oil domestically and industrially.
The location offers easy access to customers to and from the facility. We are also looking at selling high protein fiber for producers of livestock feed aside producing soybean oil.
Strum soybean oil production company is not only after making profit but also competing with other soybean oil production companies in the industry. Also, our aim is to be known in the whole of America and not only North Carolina.
In ensuring that the business grows to an enviable height, we have put in place plans, strategies and structures. The best professionals with adequate knowledge in the field will be hired since we know that efficient and effective human resources help in making a business successful.
Soybean oil production is a lucrative as well as a difficult business to go into. We hope to get the best of the machines needed in extracting oil from the soybeans. Also, the environment us very important. It must be hygienic and conducive for extracting oil.
We are also aiming to give the best customer service as we know that it is paramount to the success of the company and also helps in retaining customers. We also intend to make the company etch deep into the city and state where it is operating by participating in events organized in the community and by also sponsoring events to show that we are socially and corporately responsible, that is, corporate social responsibility. This will also help increase the level of patronage of our products.
Strum soybean oil production company is owned by two veterans, Michael Burton and Shawn Phelps who jointly runs the company. Shawn is an entrepreneur with vast knowledge of the soybean oil industry while Michael is a food technologist.
According to report, soybean oil is the most consumed oil in the United States having 55% of the whole market share.
The oil is also contained in household food products e.g. margarine. The reason why most people use soybean oil is because it doesn’t change the taste of food.
Soybean oil is available all year round due to the fact there is always adequate and abundant supply of soybean because it is easy to grow and also economical. It is the second largest oil consumed globally. It helps increase immunity, improve the heart and also reduces cholesterol.
Globally, most of the request for soybean oil comes from the food industry which is mostly used for domestic purposes. Industrially, soybean oil is used in lubricants, paints, bio-diesel, cleaners, adhesives and so on. It is the largest source of animal feed in the global world and the second largest source of vegetable oil.
Products and Services
The intention of Strum soybean oil production company is to offer various products and services while our main product is crude soybean oil for industrial purpose and refined soybean oil for domestic purpose.
This is because having more than one source of income will help the business grow and expand for a very long time.
Some of the products of our company are:
• Refined Soybean oil for domestic consumption
• Soybean oil for industrial consumption
• High-protein fiber for animal feed
• Consultancy services
• Training services
Our vision is to become one of the best and leading soybean oil industries in the United States within five years by making sure that our soybean oil undergoes the best extraction method.
The mission of Strum soybean oil production company is to offer quality soybean oil to our customers by using the best refining machines and employing good hands.
Business structure is very important in establishing a soybean oil production company and therefore it is necessary to have a good business structure. Though, financial resources are vital so also the human resources. Having the best hands to understand the vision of the company, work towards achieving it and running the business well is paramount.
We intend to have a well package welfare for our employees which will motivate them to work harder towards achieving the company’s success.
The business structure of Strum soybean oil production company is as follows:
• Managing Directors
• Plant Manager
• Quality Assurance Manager
• Purchasing Manager
• Human resources and Admin Manager
• Marketing Executives
• Customer Service Executives
• Maintenance Team
• Truck Driver and
• Security Guard
Since soybean oil is used by for several purposes, there is a wide range of customers. Therefore the target market for the soybean oil is everyone, it does not have a particular age range or gender.
This is the reason why we will partner with certain food and grocery stores in North Carolina and also in the United States of America. A market research has been conducted to know what our customers expect from us.
The refined oil and its by-products will be sold to the following set of clients:
• Grocery stores
• Food chains
• Restaurants and hotels
• Livestock farmers
• Furniture makers
Sources of Income
The aim of Strum soybean oil production company is to maximize profit in the industry. Since soybean oil is the most edible oil consumed in the United States, we will try our best to produce soybean oil of the highest quality in order to meet the health demands of our various customers.
The company will generate income by selling the following products and offering certain services: refined Soybean oil for domestic consumption, soybean oil for industrial consumption, high-protein fiber for animal feed, consultancy services, franchise, training services.
The price set for soybean oil will be determined by the quality of soybean gotten, the price at which it was gotten, the amount used in transporting the soybean to the factory and the general overhead cost.
Another factor that determines the price of soybean oil is competitors because the price of our oil should be a little lower or the same price with one’s competitors. We intend to sell our soybean oil at a price lower than our competitors for the first few months so we can attract more customers.