We know that one of the ways of gaining approval and winning customers over is to retail our coconut oil a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while. After the oil extraction, the by-product is known as copra cake or copra meal. We have been able to secure a long term lease for a facility in a strategic location with an option of a long term renewal on an agreed terms and conditions that is favorable to us. Aside from that, you are not expected to spend much except for purchase and servicing of distribution trucks, paying of your employees and utility bills. Research has demonstrated that coconut oil contains a type of fatty acid (unsaturated fat) known as lauric acid. Keeps a record of vehicle inspections and make sure the truck is equipped with safety equipment. Copra cake is a byproduct of the coconut oil extraction process. A business plan still plays a critical role in launching a profitable and sustainable venture today. to ensure accurate and helpful information is supplied to clients when they make enquiries. We are in the coconut oil production line of business to make profits and also to give our customers value for their money and we are going to do all that is permitted by the law of the United States of America to achieve our corporate goals. Coconut oil is a popular product in the beauty and skin care industry. We are in the coconut oil production line of business to produce coconut oil in commercial quantities for manufacturing companies that are into the production of soaps, skin products, hair products and repellants et al. Introduce our coconut oil brand by sending introductory letters to beauty and skin care manufacturing companies, coconut oil merchants and other stakeholders in Trenton – New Jersey and other cities both in the United States of America and Canada, Open our coconut oil production company with a party so as to capture the attention of residence who are our first targets, Engage in road show in targeted communities from time to time to sell our products, Advertise our products in community based newspapers, local TV and radio stations, List our business and products on yellow pages ads  (local directories), Leverage on the internet to promote our coconut oil brands, Encourage the use of Word of mouth marketing (referrals), Place adverts on both print (community based newspapers and magazines) and electronic media platforms, Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our coconut oil brand, Install our Bill Boards on strategic locations all around major cities in the United States of America and Canada, Engage in road show from time to time in targeted communities, Distribute our fliers and handbills in target areas. All you would need is contacts, packaging, networking and good marketing and customer service skills. Much more than producing quality coconut oil in commercial quantities, our customer care is going to be second to none. Coconut oil is also used for industrial purposes. Please note that this amount includes the salaries of all the staff for the first 3 month of operation, Generating Funding/Startup Capital for Novena® Coconut Oil Production Company. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Trenton – New Jersey. You need to promote your brand and be a good marketer, the promotional strategies you choose and your marketing process will impact on the coconut oil production, You can sell your coconut oil with the help of retailers or local market, Glossary store: Coconut oil is used for the cooking purpose, so you can sell your coconut oil in glossary store. Required fields are marked *, https://www.steptowardbusiness.com/small-manufacturing-business-ideas/. The purpose of this business plan is to raise $1,000,000 for the development of a day trading business while showcasing the expected financials and operations over the next three years. All that needs to be done after reading them is to draw up your business plan for binary options trading, stick to the plan and make money. Your own insightful help can mean much a person like me and further more to my peers. Novena® Coconut Oil Production Company is a licensed and standard coconut oil production company that will be located in an industrial area in Trenton – New Jersey. Step 2 – Then, the small pieces are sent to copra dryer, It cooked mildly at a temperature of 35°C to 50°C for 6 hours. the details of a product or service, the market for that product or service, and the management of the business providing that product or service). We have been able to critically examine the coconut oil production industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. We are well positioned to take on the available market in Trenton – New Jersey and every city where our coconut oil will be sold and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base. Novena® Coconut Oil Production Company is going to operate a standard and licensed coconut oil production company whose product will not only be sold in Trenton – New Jersey but also throughout the United States of America. Novena® Coconut Oil Production Company will generate income by simply selling coconut oil; we are in the coconut oil production line of business to produce coconut oil in commercial quantities for manufacturing companies that are into the production of soaps, skin products, hair products and repellants et al. Sustainability and Expansion Strategy, How Non Profit Organizations Benefit the Society/Community, Our vision is to establish a standard Coconut Oil Production Company whose product will be not only be sold in Trenton – New Jersey, but also throughout the United States of America and, Our mission is to establish a standard and world class Coconut Oil Production Company that in our own capacity will favorably compete with leaders in the industry. Hi there! A great business plan template will also provide instructions for each step of your plan and show you what an investor-ready and SBA-approved business plan should look like. This is a principle that separates successful traders from the wanna-be overnight millionaires, that are really just gamblers at a casino, and the house always wins. Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators. More than ever before, coconut oil is now being used by all and sundry and this is because of the health benefits that one stands to gain when one uses it. When it comes to selling coconut oil, there is indeed a wide range of available customers. “Very good blog post.Much thanks again. where you can sell your product directly to the customer. Social media is one of the best ways to connect with customers. as well as with company policies and procedures. She has well over 15 years of experience working in the beauty and skin care industry as a senior manager prior to starting Novena® Coconut Oil Production Company. Your business plan is the foundation of your business. There are two main processes of extracting coconut oil; it can be extracted through dry or wet processing. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams. Poorly managed supply chain. In the Philippines in 1997, coconut production in copra equivalent accounted for 3.83% of the total production of agricultural crops (Aragon, 2000). He is the Executive Producer @JanellaTV and also doubles as the CEO, POJAS Properties Ltd. A Sample Essential Oil Extraction Business Plan Template, A Sample Mustard Oil Production Business Plan Template, A Sample Sunflower Oil Production Business Plan Template, A Sample Leather Processing Business Plan Template, A Sample Shea Butter Processing Business Plan Template, A Sample Cassava Processing Plant Business Plan Template, A Sample Vegetable Oil Production Business Plan Template, A Sample Tomato Processing Plant Business Plan Template, A Sample Cashew Nut Processing Business Plan Template, A Sample Chicken Processing Plant Business Plan Template, 14. Small Business Ideas – Manufacturing Business Ideas – Business tools & Education. We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats. It also provides a step-by-step plan for improving our sales, gross margin, and profitability. The coconut oil manufacturing business is a profitable business with a low capital investment in this article we will show why coconut oil is on demand and how to start your own coconut oil manufacturing industry.. Coconut oil is made from coconut fruit, dry coconut fruit is called copra, coconut trees are found in the coastal area of India In view of that, we have conducted our market research and we have ideas of what our target market would be expecting from us. leading the development and implementation of the overall organization’s strategy. Coconut oil is made from coconut fruit, dry coconut fruit is called copra, coconut trees are found in the coastal area of India, Coconut oil is much better for health than the groundnut oil, Copra is having oil content around 62 to 72 %, also you can get oil from fresh coconut, and this term is known as ‘virgin coconut oil.’, Another coconut oil named as RBD (refined, bleached, deodorized) coconut oil, here bleaching is not a chemical process, bleaching is processed filtering to remove impurities by using bleaching clay, Coconut oil is one of the cooking ingredients, which is used all over India, especially in the southern part of India, Refined coconut oil has a high demand in Kerala, Maharashtra and another south state, Coconut oil is also used in the commercial sector for manufacturing of soap, detergent, hair oil, beard oil, massage oil, cosmetics, etc, Coconut oil is also used as a lubricant for machinery, Therefore the demand for coconut oil is more, so it is profitable to start the coconut oil manufacturing business, There is some documentation that you have to complete before starting the coconut oil manufacturing business. Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. So also our large national distribution network and of course our excellent customer service culture will definitely count as a strong strength for the business. You have to pack your coconut oil item in an attractive way so you can attract customers. We ensured that our facility is easy to locate and we have mapped out plans to develop a wide distribution network for wholesalers all around Trenton – New Jersey and the United States of America. #2.GST Registration: Obtain GST number which is compulsory for every business. Coconut is known to be solid at room temperature, but would melt quickly when it comes into contact with hands. If you are starting this coconut oil business as One Person Company, then you have to register your firm as a proprietorship. It is a fact that economic downturn affects purchasing power. You have mentioned very interesting points! How To Start Pickle Manufacturing Business Plan, Bio-Diesel Production | How to Start Bio-fuel Manufacturing Business, How to Start Artificial Flower Making Business – 7 Step Guide. soon. We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied when they visit or purchase our product and also to become our loyal customers and ambassadors. You need to balance these three things that are quality, quantity, and price because you have to produce a high-quality product at a low price. Responsible for financial forecasting and risks analysis. etc. The machinery requirement generally depends on the manufacturing process, the raw material used and capital investment, Here we listed some machinery required for the coconut oil manufacturing. For Partnership operation, you have to register as a limited liability partnership (LLP) or Pvt. Since inventory and swift response to changes in demand and supply are integral to trading, ensure that you have the necessary finances. Increases 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. Brown and her immediate family members. One of our major goals of starting Novena® Coconut Oil Production Company is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. Transport finished goods and raw materials over land to and from manufacturing plants or retail and distribution centers, Inspect vehicles for mechanical items and safety issues and perform preventative maintenance, Comply with truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones, Models demographic information and analyze the volumes of transactional data generated by customer purchases, Identifies, prioritizes, and reaches out to new partners, and business opportunities et al, Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients, Develops, executes and evaluates new plans for expanding increase sales, Documents all customer contact and information, Represents the company in strategic meetings, Helps to increase sales and growth for the company, Responsible for preparing financial reports, budgets, and financial statements for the organization. The payment policy adopted by Novena® Coconut Oil Production Company is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America. The government promised the town a … Ajaero Tony Martins is an Entrepreneur, Real Estate Developer and Investor; with a passion for sharing his knowledge with budding entrepreneurs. Ensures that the plant meets the expected safety and health standard at all times. Please note that the above projection might be lower and at the same time it might be higher. In the united states of America the story is the same as this essential oil has become the most used oil for skincare and health care. Novena® Coconut Oil Production Company is established with the aim of maximizing profits in the coconut oil production industry in both the United States of America and Canada and we are going to go all the way to ensure that we do all it takes to sell our coconut oil product to a wide range of customers in the beauty and skin care industry. #4.MSME/SSI Registration: Obtain Udyog Aadhaar MSME online registration. A major weakness that may count against us is the fact that we are a new coconut oil production company and we don’t have the financial capacity to engage in the kind of publicity that we intend giving the business. Trading resumed in Tiptur, the largest copra market for edible copra or ball copra, on Friday, after traders’ doubts on GST were clarified by tax officials. Coconut Oil Manufacturing Business. As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. Okay, so we have considered all the requirements for starting a coconut oil production business. Generally, coconut oil is known to be an important base ingredient especially when it comes to the manufacturing of soap. Assists the transport and logistics manager in planning their route according to a delivery schedule. We have put in place business strategies that will help us run on low profits for a period of 6 months; it is a way of encouraging people to buy into our coconut oil brands. Page - 1 This is the key areas where we will spend our start – up capital; We would need an estimate of $500,000 to successfully set up a standard and world class coconut oil production plant in Trenton – New Jersey. Assists in loading and unloading coconut oil meant for distribution. 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