 Business ideas

 Business Plans
 Franchise
 Start Business
 Grow Business
 Investment
 Career

Home » Business Plans » Construction & Engineering »

How to Write an Electrical Hardware

Business Plan [Sample Template]
Are you about starting an electrical hardware company? If YES, here is a sample electrical
hardware business plan template & FREE feasibility report. A hardware business typically
manufactures or sells hand and power tools, building materials, fasteners, keys, locks, hinges,
chains, electrical supplies, plumbing supplies, cleaning products, housewares, utensils, and paint.
These businesses are designed for DIY consumers and handymen (as well as tradesmen) who
need a location to acquire supplies for projects.

Table of Content [show]

Why Start an Electrical Hardware Company?

A small hardware store can be established for less than $100,000. Startup costs include rent for
the building, start-up inventory, display setup, and cash reserve for staffing and labor costs. Start-
up inventory will likely run between $50,000 and $75,000. Ongoing expenses for this kind of
business include supplies, rent, utilities, and insurance. All of these costs will vary significantly
depending on your location.

Your customers in this business will mainly be DIY customers or handymen. However, an
electrical hardware store can set up trade accounts with local tradesmen to acquire steady
business. Note that email marketing is an underutilized strategy in this industry because most
electrical hardware stores depend on word of mouth and foot traffic.

But, by emailing your existing customers on a regular basis, you can generate significantly
higher revenue than depending on people randomly coming into your store when they need
something. A well-structured and targeted email campaign would also allow you to better predict
revenue and profit.

A Sample Electrical Hardware Business Plan Template

1. Industry Overview
The Electrical Equipment Industry is made up of companies that manufacture and sell a range of
products to a diverse customer base. Although this sector is fragmented, there are a few members
that strive to claim a sizable portion of sales.

Products include electrical motors, commercial and industrial lighting fixtures, heating,
ventilation and air conditioning systems and components, and, among others, electrical power
equipment. Operating structures involve high fixed costs. Too, copper, aluminum and steel are
essential raw materials used in the manufacture of products. (Fluctuations in commodity prices
can have an impact on earnings).

The industry spans all corners of the world, and it is subject to the influence of the
macroeconomic cycle. These companies majorly serve the mature markets of North America and
Europe, but they have found growth venues in the emerging world.

According to reports, massive global coverage helps to smooth the effects of the broader
business cycle. Capable management is meanwhile needed to oversee long distribution networks
and far flung operations. Most recently, companies have created more overseas brick-and-mortar
facilities, which has allowed them to better serve local markets economically and limit the
negative impact of foreign currency exchange.

According to industry reports, top- and bottom-line trends in the industry often track the broad
economic cycle. Within short periods of prosperity, when they are flush with cash, customers are
comfortable expanding their capital budgets and spending on electrical equipment.

Sometimes, when there is uncertainty as to the direction of the economy, those controlling the
purse strings delay spending decisions, which can hurt short-term operating results. Also, when
business conditions are very challenging, customers may pull back dramatically on equipment
orders.

Companies try to repair and replace equipment during regular, seasonal or cyclical slack periods.
Often, managers will attempt to extend the useful life of equipment as long as possible.
Meanwhile, there are some major indicators of the industry’s prospects.

The Institute of Supply Management’s Purchasing Managers Index offers a near real-time view
of manufacturing production, employment levels, new orders, supplier deliveries and inventory
turnover. For instance, a reading above 50 shows expansion, and one below that figure marks a
manufacturing contraction.

Durable Goods Orders, released by the U.S. Census Bureau, is another crucial statistic. These
consumer goods last three years or more and are relatively expensive. Month-to-month trends are
a good indication of whether the economy is cycling up or down.

Additionally, the Federal Reserve Board regularly releases capacity utilization figures.
Utilization is high when demand is strong and low when demand is weak. Capacity utilization
rates above 80% suggest that equipment spending will rise; such levels may also indicate that
inflation will increase.
2. Executive Summary

Billing Main Stores (BMS) is a new electrical hardware business that will design and sell strong
and long lasting power protection products in Downtown Billing, Montana. We will be
successful because our plan is to provide a distinctive service different to what the industry are
already used to. At Billing Main Stores, we expect an optimistic gross margin over the industry
average.

We plan to achieve this due to the new approach to service we bring to the industry and our
diversified workforce. We boast of durable workforce from different backgrounds, but with the
prerequisite skills and zeal to present our customers with an experience they won’t forget in a
hurry.

Our goal is to provide our customer with an enjoyable, honest service by satisfying individual
customers electrical equipment needs. Our business location, The Billings trade area serves over
a half million people. Known as a major trade and distribution center, the city is home to many
regional headquarters and corporate headquarters.

With Montana having no sales tax, Billings is a retail destination for much of Wyoming, North
and South Dakota as well as much of Montana east of the Continental Divide. $1 out of every $7
spent on retail purchases in Montana is being spent in Billings.

Also, the percentage of wholesale business transactions done in Billings is even stronger:
Billings accounts for more than a quarter of the wholesale business for the entire state. Billings is
an energy center sitting amidst the largest coal reserves in the united states as well as large oil
and natural gas fields.

At Billing Main Stores, profits made at first will be used to settle any overhead costs related to
purchasing inventory. We have chosen to outsource production because we have numerous
relationships with contract manufacturers that can make the products for far less than we can.

We also acknowledge that production would create significant capital costs which are truly
unnecessary. The beauty of this Business model is the usage of contract manufacturers and the
leveraging of other viable resources to grow our business.

Billing Main Stores was founded by a group of friends, headed by Mr. Gregory Cameral in May
2019. Mr. Gregory Cameral has an MBA from Montana State University and has experience
working for the large electrical company SONY as an assistant project manager, and Concord
Current as an executive in the value added services department.

Billing Main Stores has been forecasted to achieve impressive sales for years two and three, with
correspondingly respectable net profit. Having completed nearly 12 years at various electrical
business establishments, Mr. Gregory has a complete knowledge and experience in this industry.

3. Our Products and Services

At Billing Main Stores, we will offer a vast range of surge arrestors and surge protectors. A
surge protector protects electrical devices plugged into it against spikes in voltage. While a surge
arrestor or “whole house surge protector” protects all circuits of a house from a surge in current
coming from outside the building. All our products will protect consumers and their sensitive
electric and electronic appliances from power surges or transient voltage.

For the sake of clarity, a power surge is an increase in voltage significantly above the designated
level of flow of electricity. When a surge or spike is high enough, it can cause serious electrical
damage, just like applying to much water pressure through a hose.

These surge protectors work by diverting the extra electricity into the outlet’s grounding wire. A
surge arrestor provides the same protection, but, the protection occurs before the current comes
into the home. There are several sources of surges. The most familiar source is lightning. When
lightning strikes near a power line, the electrical energy creates a boost of electrical pressure.

A surge arrestor is the best form of protection against lightning as a lightning surge will
overpower most surge protectors. A more common source is the operation of high power
electrical devices such as refrigerators and air conditioning units.

These appliances cause spikes when their compressors or motors are turned on and off, creating
sudden, brief demands for power and upsetting the flow of the electrical voltage. These types of
surges can be protected only by surge protectors because the spike occurs within the home and
not from the electrical grid.

The last main source of surges comes from the utility company’s equipment. The complex
system of equipment that brings electrical power from the grid into the home may have points of
failure that can cause uneven power transmission.

A combination of a surge arrestor and surge protectors on major or expensive electric/electronic

components can significantly decrease the possibility of surge/spike damage. We at Billing Main
Stores will offer two main products, surge arrestors and surge protectors. These products are
made by a contract manufacturer and sold under the Billing Main Stores brand name.

4. Our Mission and Vision Statement

 Our vision at Billing Main Stores is to establish an electrical hardware dealership with a
respectable gross margin in a sustainable environment.
 Our Mission is to develop a vast range of surge protectors and arrestors for clients that
offer safety and value.
 Our aim is to leverage the economic strength of our business location to help build brand
recognition.
 All customer’s expectations will be exceeded with their innovative, useful products and
complete customer satisfaction is guaranteed.

Our Business Structure

Mr. Gregory Cameral will function as the company president for the first five years for a
minimal salary of $24,000 in exchange for his commitment, coordination and technical know-
how. The board of directors which comprises of industry leaders will be compensated for their
services by a return of profits on their investment.

Two sales staff will work the sales floor for the first year compensated solely by commissions
earned on a 5% pay scale. Also three mechanics, specializing in hardware repairs, will be paid
$3,200 monthly.

The mechanics’ salaries will steadily increase every year by 5% to show the increased human
capital acquired by the mechanics’ maintenance experience with our equipment and hardware.
Meanwhile, the maintenance and secretarial staff will take care of administrative matters and
sales room decorum. Below are detailed professionals we plan to employ to achieve our business
visions and goals.

 President
 Store Manager
 Human Resources and Admin Manager
 Sales and Marketing Manager
 Mechanics
 Information technologist
 Cashier
 Maintenance and Secretarial staffs
 Cleaners

5. Job Roles and Responsibilities

President

 Boosts management’s effectiveness by recruiting, selecting, orienting, training, coaching,

counseling, and disciplining managers; communicating values, strategies, and objectives;
assigning accountabilities; planning, monitoring, and appraising job results; developing
incentives; developing a climate for offering information and opinions; providing
educational opportunities.
 In charge of fixing prices and signing business deals
 In charge of providing direction for the business
 Establishes, communicates, and implements the organization’s vision, mission, and
overall direction – i.e. leading the development and implementation of the overall
organization’s strategy.
 Charged with signing checks and documents on behalf of the company
 Evaluates the success of the organization

Admin and HR Manager

  In charge of overseeing the smooth running of HR and administrative tasks for the
organization
 Tasked with maintaining office supplies by checking stocks; placing and expediting
orders; evaluating new products.
 Makes sure operation of equipment by completing preventive maintenance requirements;
calling for repairs.
 Defining job positions for recruitment and managing interviewing process
 Carrying out induction for new team members
 In charge of training, evaluation and assessment of employees
 In charge of arranging travel, meetings and appointments
 Oversee the smooth running of the daily office cum business activities

Store Manager

 In charge of managing the daily activities in the hardware store

 Ensures that proper records of hardware are kept and the store does not run out of
hardware
 Ensures that the store facility is in tip top shape and hardware are properly arranged and
easy to locate
 Interfaces with third – party suppliers (vendors)
 Controls distribution and supply chain inventory
 Supervise the workforce in the hardware store sales floor

Sales and Marketing Manager

 Takes care of external research and coordinate all the internal sources of information to
retain the organizations’ best customers and attract new ones
 Models demographic information and analyse the volumes of transactional data generated
by customer purchases
 Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
 Identifies development opportunities; follows up on development leads and contacts
 In charge of supervising implementation, advocate for the customer’s needs, and
communicate with clients
 Documents all customer contact and information
 Represents the company in strategic meetings
 Helps to increase sales and growth for the company

Mechanics

 Find out mechanical problems, often by using computerized diagnostic equipment

 Test parts and systems to ensure that they are working properly
 Repair or replace worn parts
 Disassemble and reassemble parts
 Use testing equipment to ensure that repairs and maintenance are effective
 Explain to clients the problems and the repairs done on their electrical device
  Adhere to checklists to ensure that all critical parts are examined
 Do basic care and maintenance.

Information Technologist

 Manages the organization website

 Handles ecommerce aspect of the business
 In charge of installing and maintenance of computer software and hardware for the
organization
 Manages logistics and supply chain software, Web servers, e-commerce software and
POS (point of sale) systems
 Manages the organization’s CCTV
 Handles any other technological and IT related duties

Accountant/Cashier

 In charge of preparing financial reports, budgets, and financial statements for the
organization
 Provides managements with financial analyses, development budgets, and accounting
reports
 In charge of financial forecasting and risks analysis
 Performs cash management, general ledger accounting, and financial reporting
 Tasked with developing and managing financial systems and policies
 Tasked with administering payrolls
 Ensuring compliance with taxation legislation
 Handles all financial transactions for the organization
 Serves as internal auditor for the organization

Maintenance and secretarial staffs

 Makes sure that all contacts with clients (e-mail, walk-In centre, SMS or phone) provides
the client with a personalized customer service experience of the highest level
 Through interaction with customers on the phone, uses every opportunity to build client’s
interest in the company’s products and services
 Manages administrative duties assigned by the human resources and admin manager in an
effective and timely manner
 Consistently stays abreast of any new information on the organizations’ products,
promotional campaigns etc. to ensure accurate and helpful information is supplied to
customers when they make enquiries
 Provides information about warranties, manufacturing specifications, care and
maintenance of merchandise and delivery options

Cleaners

 Ensures that toiletries and supplies don’t run out of stock

  Cleans both the interior and exterior of the store
 Handles any other duty as assigned by the store manager

6. SWOT Analysis

At Billing Main Stores, our major objectives include developing a profitable product that is
unregulated from the core power generation business, to become profitable within one year and
to use our business as a successful model for future ventures.

We can’t achieve these goals by being a trial and error business. Our plans are steady, solid and
they respect the ideas and visions of our founders. Below is a well-documented summary of our
SWOT analysis, performed by Xavier Holdings, to ascertain our chances and weaknesses in our
industry of choice.

Strength

 We provide every customer 100% satisfaction.

 We design and sell meaningful, valuable, power protection products.
 We plan to design and employ strict financial controls.

Weakness

According to our SWOT analysis, we are a new electrical hardware dealership business in
Downtown Billing and we don’t have the financial capacity to compete with multi – million
dollar dealers in the country, and we might find it hard penetrating the market.

 Opportunities

Although most hardware stores, electronic stores, and mass merchants sell some sort of surge
protector, the products offered by Billing Main Stores will be differentiated by their industrial
grade offer and, a far higher level of protection than most other surge protectors.

These units are $130 each and offer the best protection when used in conjunction with a surge
arrestor. Any type of electric or electronic appliance of value should be protected such as
furnaces, refrigerators, stoves, TVs, stereos, computers, modems, phones, etc.

 Threat

One of the key setbacks that we are going to face at Billing Main Stores will be convincing
people to patronize our services. Although we acknowledge the open opportunities in this
industry far outweighs this threat.

7. MARKET ANALYSIS

 Market Trend
According to reports, electrical equipment shipments, orders, and backlog offer a fairly accurate
indication of an individual company’s sales prospects. Growing orders help to build backlog and
lead to higher shipments and sales.  Order cancellations, however, can quicken top-line declines.

Plant utilization lends insight to a company’s pricing power and earnings potential. Also, product
quality and ease of integration (into manufacturing systems) will influence demand, pricing and
profits. In this industry, operating efficiency is very important for these companies to succeed.
For the most part, the industry’s operating margin ranges from 10% to 20%.

Some leaders achieve margins in the 30s and 40s, and a few, with profitability measures in the
single digits, lag behind. Popular efficiency and cost-reduction methods include Six Sigma, Lean
Manufacturing, Best Practices and common production platforms. Effective hedging strategies
can bring volatile commodity prices under control.

In some instances, research and development expense is less than 5% of sales. Nonetheless,
R&D outlays are important to the industry. Innovation allows a company to improve its
competitive position.

Managements work to keep up with shrinking product life cycles and attain standardization to
maintain cohesiveness and save money. Notwithstanding, net margins hew close to 10%. For
equipment makers with little or no debt, net margins about match operating margins.

Those with significant debt obligations often have net margins in the single digits. Managements
tap the equity and debt markets, and use cash, for expansion and acquisitions, depending on the
comparative cost of capital and their tolerance for risk.

Also note that the industry has a history of substantial merger and acquisition activity.
Acquisitions offer access to new markets and products, as well as ample cost synergies. Usually,
the larger the company and the more extensive the record of buyouts, the less risk there is to
investors.

8. Our Target Market

At Billing Main Stores, we’ve identified three unique target market to sell our products to. The
first market is family home owners, typically with children, and the second is single home
owners.

These two unique markets have been chosen because families with children typically have a
large number of electronic devices and the upper income single home owner often use lots of
gadgets in their home. Meanwhile, the third market is commercial businesses that have
equipment they want protected.

We acknowledge that competition is very limited for surge arrestors as they require electric
utility installation. There is some competition with the surge protectors, however the competitive
products are of a consumer level of quality and protection, different from our products which
offer industrial levels of protection.
Billing Main Stores is targeting these groups. Although most home owners insurance offers some
level of compensation for damage, deductibles are typically high enough that most people do not
make claims.

 Our competitive advantage

At Billing Main Stores, we expect an optimistic gross margin over the industry average. We plan
to achieve this due to the new approach to service we bring to the industry and our diversified
workforce.

Billing Main Stores will grow from four board directors plus a small group of two sales persons,
one IT personnel, an accountant and one mechanic, all of who will bring their professional
expertise and contacts to provide a solid foundation of connections for future marketing ventures.
Meanwhile, our media strategy will focus on direct marketing to local groups and clubs, as well
as advertising in magazines.

All sales prospects will be finalized in person, through mail-order, over the phone, and via the
Internet. We also believe that as the visibility of our hardware increases, sales among home
owners and the commercial market will increase by 60% each month thereafter.

9. SALES AND MARKETING STRATEGY

 Marketing and Sales strategy

At Billing Main Stores, we’ve developed a targeted strategy that allows us to leverage our
competitive edge and quickly gain market penetration. Our competitive edge is our optimistic
gross margin over the industry average. Our marketing strategy will concentrate on the ability to
offer supreme, inexpensive protection for electronic appliances.

This campaign will be communicated through various methods and will focus on the product
offerings coming from Billing Main Stores.

We will also put together a news release which will be sent to area newspapers and magazines
announcing the launch of Billing Main Stores. Our President Mr. Gregory Cameral is an
important member of the Montana Chamber of Commerce. He will also make himself available
for speaking engagements at other community or civic organizations.

We believe that by becoming a front runner and a sponsor in a community event, we can
leverage a low-cost way of increasing awareness and building goodwill in the community. We
will also encourage and reward our customers for their repeat business. This can be
accomplished by offering a discount special price to past customers who returned.

10. Sales Forecast

At Billing Main Stores, we expect our normal monthly running costs per month, which include
our full payroll, lease, marketing, utilities, and an estimation of other running expenses. Payroll
alone can be about $60,000 for one mechanic and one accountant, while all sales staff operates
on commission.

Agreeably, margins are difficult to put together as the average per unit costs do not include
marketing costs, promotions, or salesman commissions. But our overall average per unit revenue
over per unit costs is based on past sales from other dealerships.

The gross margin within the first year will be modest, rising in the second and third year. Our
major budget items will include salary, rent, sales and marketing expenses, utilities, insurance,
taxes and licensing.

Billing Main Stores net profit is also expected to reach outstanding levels in the first year, rising
in the second and the third year. All of these profits can then be fed back into research and
development opening the doorway to a secondary market role for Billing Main Stores to become
a patent holding company.

11. Publicity and Advertising Strategy

At Billing Main Stores, our promotion strategy will seek to communicate the idea that the
products that we offer are cheap insurance against large electronic damage or losses. By
proactively purchasing our electrical products, clients can protect all their expensive devices
against loss and damage.

Although many homeowners probably have some sort of insurance, deductibles are often
prohibitively high, making a claim for damage to one or a couple appliances not worth the
money. Billing Main Stores will use several forms of communication for our promotional
campaign:;

 Put adverts on community based newspapers, radio and TV stations

 Encourage the use of word of mouth publicity from our loyal customers
 Make use of the internet and social media platforms like YouTube, Instagram, Facebook,
Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business.
 Make sure we position our banners and billboards in strategic positions all around
Billings.
 Share our fliers and handbills in target areas in and around Billings
 Advertise our used hardware dealership business in our official website and employ
strategies that will help us pull traffic to the site
 Brand all our products and delivery trucks and ensure that all our staff members wear our
branded shirt or cap at regular intervals.

Source of income

Most of our inventory will be bought in advance to stock the sales floor and we plan to generate
revenue by offering a vast range of surge arrestors and surge protectors to our clients. Billing
Main Stores is expected to grow in sales at a rate of 15% per month, starting from the
conservative estimate of 72 hardware sold.
Note that this financing will come initially from the executive board, giving room for plenty of
opportunity for credit to cover unforeseen expenses, if necessary. Growth will be rapid and
produce profits almost immediately.

12. Our Pricing Strategy

At Billing Main Stores, we believe our target audience will buy based on superior quality,
excellent customer service, and local business location. We also know that businesses in our
business scope make their money from the interest and commissions they offer their services and
products.

We hope to keep our prices at the average market rate for the main time, but will increase as our
identity in the market increases. Most of our products will sell between $130 and $620 to take
advantage of impulse purchasers in the city. Our average sale is around $375, which also
includes a professional installation.

 Payment Options

At Billing Main Stores, we will always strive to establish payment methods that will suit our
clients. We have also partnered with a renowned bank to help serve our clients comfortably. We
hope to make available the following payment options for our clients;

 Payment by via bank transfer

 Payment via online bank transfer
 Payment through POS
 payment through PayPal
 Payment via check
 Payment via bank draft
 Payment with cash

13. Startup Expenditure (Budget)

Our goal at Billing Main Stores is to establish a business that will serve the needs of our
customers and also ensure a balanced positive cash flow. We believe that with our diverse
workforce and experienced board of directors, we can build a unique business that will invest
residual profits into company expansion and Personnel.

We have estimated our start up costs and overheads for the next three years. It is believed that all
new entrants in the industry operate with negative profits through the first two years. But, at
Billing Main Stores, we plan to avoid that kind of operating loss by understanding our markets,
our competitors, industry direction, and the products we sell. Outlined below are the ways we
plan spending our start-up cost;

 The Total Fee for Registering the Business in Billings : $900.

 The budget for insurance, permits and license: $10,000
  The Amount needed to acquire a suitable Facility for 6 months in Downtown Billings
(face lifting of the facility inclusive): $75,000.
 The Cost for the purchase of furniture and gadgets (fridges, TVs, Sound System, tables
and chairs et al): $20,000.
 The Cost for Equipment: $15,000
 The Cost for inventory : $3,000,000
 The Cost of Launching a Website: $700
 Our marketing and publicity budget – $150,000
 The cost for our opening party: $6,000
 Additional Expenditure (Business cards, Signage, Adverts and Promotions et al): $7,000

From our detailed analysis above, we will need $3,284,600 to start Billing Main Stores. We have
also put plans in place to be able to raise the funds and capital.

Generating Funding/Start up for Billing Main Stores 

Billing Main Stores was founded by four friends led by Mr. Gregory Cameral. These
experienced men, Mason Creed, Churchill Garner, Sampson Amos and Fred Marshall are all
from different walks of life, with a basic knowledge of the electrical hardware industry and ready
to invest their years of experience in Billing Main Stores. They will also be the sole financiers of
the business which is why we have restricted the sourcing of the startup capital for the business
to just three major sources.

 Generate part of the startup capital from personal savings and sale of stocks
 Generate part of the startup capital from friends and other extended family members
 Generate part of the capital from the bank (loan facility).

This group of friends have been able to raise $2,000,000 ($500,000 from personal savings and
$400,000 from his friends and family as soft loan), and we are at the final stages of obtaining a
loan facility of $1,000,000. We have verified all the necessary procedures to actualize or get our
startup cost.

14. Sustainability and Expansion Strategy

At Billing Main Stores, our strategy to build customer sales includes telemarketing and
encouraging and rewarding present clients to refer future clients. Networking within business
groups, civic groups, church groups, etc. are important, even if the business results are not
immediately felt.

Billings Main Store does not face any real competition for the arrestors due to the installation
requirement of the electric utility. Although, there are six current vendors that sell the actual
arrestor equipment, it is far more expensive to buy the equipment and then pay for installation
than buying the package (product and installation) directly from the utility.

We boast of a long lasting business understanding with MSL Distribution, one of the topmost
utility firms in Billings. In terms of the surge protectors, we face general competition from
several sources. This is qualified as general competition since the products typically sold (75%
of the time) are of consumer quality versus the industrial quality that Billing Main Stores offers.

Due to our direct contacts with electrical component manufacturers and their sheer buying
scale/power, we will be able to offer high-quality industrial grade products for prices that are
similar to the consumer units. Our sales forecast has been developed as a forecast and tracking
tool to provide the company with realistic sales goals as well as a way to verify progress.

The forecast has been developed as a conservative estimate, not an aggressive sales promise. By
adopting a conservative forecast, Billings Main Stores increases the likelihood of reaching
sustainable sales growth. Barring monopolistic manipulations of the supply of inventory, success
is just around the corner.

Also objectives have been set for Billing Main Stores so that actual performance can be
measured against them. Each subsequent year, new objectives will be set for these benchmarks,
and actual performance will be measured against them.

If actual performance falls short of objectives, investigation will be made into the cause, and
plans adjusted accordingly. At Billing Main Stores, we will keep track of the source of all new
clients so as to measure the effectiveness of each type of promotion.

Checklist/Milestone

 Business Name Availability Check: Completed

 Business Incorporation: Completed
 Opening of Corporate Bank Accounts: Completed
 Opening Online Payment Platforms: Completed
 Application and Obtaining Tax Payer’s ID: In Progress
 Application for business license and permit: Completed
 Purchase of Insurance for the Business: Completed
 Conducting feasibility studies: Completed
 Leasing, renovating and equipping our facility: Completed
 Generating part of the startup capital from the founder: Completed
 Applications for Loan from our Bankers: In Progress
 Writing of Business Plan: Completed
 Drafting of Employee’s Handbook: Completed
 Drafting of Contract Documents: In Progress
 Design of The Company’s Logo: Completed
 Printing of Promotional Materials: Completed
 Recruitment of employees: In Progress
 Purchase of software applications, furniture, office equipment, electronic appliances and
facility facelift: In progress
 Creating Official Website for the Company: In Progress
 Creating Awareness for the business (Business PR): In Progress
 Health and Safety and Fire Safety Arrangement: In Progress
  Establishing business relationship with banks, financial lending institutions, vendors and
key players in the industry: In Progress

Solomon. O'Chucks
Researcher / Senior Writer at Profitable Venture Magazine Ltd
Solomon O’chucks is a Researcher, Prolific Writer and a UNICEF trained & Certified Facilitator
and Counselor, A Graduate of Morris Cerullor School of Ministry and He Holds a Degree in
Personal Development & Science of Success from IIGL Asheville, NC, USA.

More on Construction & Engineering

How to Write a Painting Company Business Plan [Sample Template]

How to Write a Civil Engineering Business Plan [Sample Template]

How to Write an Autocad Drafting Business Plan [Sample Template]

How to Write an Equipment Leasing Business Plan [Sample Template]

How to Write an Electrical Supply Business Plan [Sample Template]

How to Write a Concrete Contracting Business Plan [Sample Template]

How to Write a Laser Cutting Business Plan [Sample Template]

How to Write a Spray Foam Insulation Business Plan [Sample Template]

How to Write a Demolition Company Business Plan [Sample Template]

How to Write a Sand Dredging Business Plan [Sample Template]

  Business ideas
 Register Business
 Write a Business Plan
 Raise Capital
 Get Insurance
 Naming a Business

Copyright © 2021 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us |
Contact Us | Privacy Policy | Disclaimer. Available in Other Countries: | UK | Australia |
Canada | South Africa | India | Nigeria