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A Sample 3D Printing Business Plan Template

Are you about starting a 3D printing company? If YES, here is a complete sample 3D printing business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a 3D printing business. We also took it further by analyzing and drafting a sample 3D printing service marketing plan template backed up by actionable guerrilla marketing ideas for 3D printing businesses. So let’s proceed to the business planning section.

If you want to start a business that has potentials and that is sure to make you smile to the bank at all times, then you should be looking at delving into the 3D printing services business. This is a very practical business that is capable of making focused succeed at it.

One of the things that you have got to first of all determine is the willingness for you to go into this business. There after you will begin to do other underground businesses like undertaking a thorough feasibility studies, amongst other things

There are experts who write a business plan, there are also templates that you can use to write yours. This business plan below will come in handy as you work at drawing and putting yours all together.

A Sample 3D Printing Business Plan Template

  • Industry Overview

The printing industry is indeed a very large industry with many subsets and 3D printing and rapid prototyping is one of the active lines of business in the printing industry.

Generally, establishments in the 3D Printing & Prototyping Services industry offer 3D printing and rapid prototyping services. A 3D printing and prototyping service is the automatic construction of physical objects using additive manufacturing technology. The process include melting or softening material to produce layers, laying liquid material thermosets that are cured and cutting thin layers to shape that are then joined together.

The 3D Printing and Rapid Prototyping Services industry over time has experienced rapid growth and this is due to rapid technological advancements, falling costs and new uses for 3D printing technology. Going forward, the demand for 3D printing and rapid prototyping service and of course the revenue generated is projected to increase rapidly as 3D printing and rapid prototyping explodes in popularity and accessibility, especially in consumer markets.

The 3D Printing & Rapid Prototyping Services Industry is indeed a very large industry and pretty much active in all the parts of the world. Statistics has it that in the United States of America alone, there are about 151 registered and licensed 3D printing and rapid prototyping services companies responsible for employing about 3,814 and the industry rakes in a whooping sum of $492 million annually.

The industry is projected to enjoy 3.7 percent annual growth and the establishments with the dominant market share in the 3D printing and rapid prototyping industry are 3D System Inc. and Stratasys.

Research carried out by IBISWORLD shows that the 3D Printing and Rapid Prototyping Services industry exhibits moderate level capital intensity. The report shows that for every $1.00 spent on labor, the average industry operator is estimated to invest about $0.14 in capital equipment. The average firm’s primary capital investment comes in the form of actual 3D printers.

They also stated that printing service companies source these machines directly from 3D printer manufacturers. 3D printers and rapid prototyping equipment form the majority of a firm’s initial purchases and can be of great cost. The report further states that, the industry wages are anticipated account for roughly 42.2 percent of revenue in 2015. This ratio may seem high; however, the industry’s employees are typically more skilled than other types of printing service related businesses.

If you are looking towards starting your own 3D printing and rapid prototyping services business, then you should endeavor to learn the trade. The truth is that the technology and processes involve in this line of business is one that will require a period of time (months) to learn.

Over and above, the 3D printing and rapid prototyping services industry is pretty much open to new entrepreneurs and investors to come in and build a successful business. But they must first and foremost ensure that they conduct thorough feasibility studies and market survey before situating the business in any location. This is very important because if this type of business is better located in an area that has available market for its services.

3D Printing Business Plan – Executive Summary

Crop & Clip 3D Printing™, LLC is a U.S based and world – class 3D printing and rapid prototyping Services Company. We have been able to secure a standard and well – positioned office facility in a busy business district in Los Angeles – California.

We are a world class 3D printing and rapid prototyping company that is set to compete in the highly competitive 3D printing and rapid prototyping services industry not only in the United States market, but also in the global market.

Crop & Clip 3D Printing™, LLC will be involved in the all aspect of 3D printing and rapid prototyping  services such as3D printing rapid prototyping, 3D printing support services, selective laser sintering (SLS), fused deposition modeling (FDM), stereo lithography (SLA) and other related 3D printing and rapid prototyping services.

Our business goal is to become one of the leading 3D printing and rapid prototyping Services Company in the United States and we will make sure that every 3D printing and rapid prototyping jobs that leaves our printing press can favorable compete with the best in the industry.

Our workers are going to be selected from a pool of talented and highly creative 3D printers in and around Los Angeles – California and also from any part of the world as the business grows. We will make sure that we take all the members of our workforce through the required trainings that will position them to meet the expectation of the company and to compete with leading 3D printing and rapid prototyping services companies in the United States and throughout the globe.

At Crop & Clip 3D Printing™, LLC our client’s best interest come first, and everything we do will be guided by our values and professional ethics. We will ensure that we hold ourselves accountable to the highest standards by delivering excellent and neat jobs and also meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Crop & Clip 3D Printing™, LLC is a private business that is owned and managed by Mr. Joseph Pascal and his immediate family members. Joseph Pascal studied Printing Technology from Illinois Institute of Technology and he has well over 10 years of hands on experience working with one of the leading 3D printing and rapid prototyping services companies in the United States of America. He will be bringing his wealth of experience to grow Crop & Clip 3D Printing™, LLC to become a national brand.

  • Our Product and Services

Crop & Clip 3D Printing™, LLC was established with the aim of maximizing profits in the 3D Printing and Rapid Prototyping industry. We want to compete favorably with the leading 3D printing and rapid prototyping companies in the United States of America which is why we have but in place a competent quality assurance team that will ensure that all our 3D printing and rapid prototyping services jobs and other related printing services rendered meet and even surpass our customers’ expectations and match – up with international best practices.

We will work hard to ensure that Crop & Clip 3D Printing™, LLC is not just accepted in Los Angeles – California but also nationally throughout the United States of America. Our service offerings are listed below;

  • 3D printing
  • Rapid prototyping
  • 3D printing support services
  • Selective laser sintering (SLS)
  • Fused deposition modeling (FDM)
  • Stereo lithography (SLA)
  • The sale of 3D printers and supplies.
  • Screen printing consulting and advisory services
  • Other related printing services

Our Vision Statement

Our vision is to establish a standard and world class 3D printing and rapid prototyping company whose services and brand will not only be accepted in Los Angeles – California but also throughout the United States of America, but also in other parts of the world.

  • Our Mission Statement

Our mission is to build a world class 3D printing and rapid prototyping company that will be known to execute top notch s3D printing and rapid prototyping projects and to become the number one choice for branding, advertising and promotion agencies and other stake holder in the industry. We want to build a 3D printing and rapid prototyping services company that can favorably compete with other leading brands in the industry.

  • Our Business Structure

Crop & Clip 3D Printing™, LLC is a 3D printing and rapid prototyping services company that intend starting small in Los Angeles – California, but hope to grow big in order to compete favorably with leading 3D printing and rapid prototyping companies in the industry both in the United States and on a global stage.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hire the best hands within our area of operations.

At Crop & Clip 3D Printing™, LLC, we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer
  • Creative Director
  • Human Resources and Admin Manager
  • Sales and Marketing Executive
  • Accountant
  • 3D Printing Machine Operators
  • Client Service Executive

Roles and Responsibilities

Chief Executive Officer – CEO:

  • 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.
  • Responsible for providing direction for the business
  • Creates, communicates and implements the organization’s vision, mission, and overall direction – i.e. lading the development and implementation of the overall organization’s strategy.
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Creative Director:

  • Serves as project manager of the organization; works directly with employees
  • Responsible for designing and approving concepts for 3D printing of materials for client
  • Develops strategic plan by studying technological and financial opportunities; presenting assumptions; recommending objectives.
  • Accomplishes subsidiary objectives by establishing plans, budgets, and results measurements; allocating resources; reviewing progress; making mid-course corrections.
  • Coordinates efforts by establishing procurement, production, marketing, field, and technical services policies and practices; coordinating actions with corporate staff.
  • Builds company image by collaborating with customers, government, community organizations, and employees; enforcing ethical business practices.
  • Maintains quality service by establishing and enforcing organization standards.
  • Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications / journals; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
  • Makes certain that production and development department perform efficiently, coordinate employee efforts, and facilitate communications between management and 3D printing machine operators and rapid prototyping specialist
  • Ensures that the organization work in line with international best practices.

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Designs job descriptions with KPI to drive performance management for clients
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defines job positions for recruitment and managing interviewing process
  • Carries out staff induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Oversees the smooth running of the daily office activities.

Sales and Marketing Manager

  • 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
  • Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
  • Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
  • Responsible for handling business research, market surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Develops, executes and evaluates new plans for expanding increase sales
  • Creates new markets cum businesses for the organization
  • Empower and motivates the sales team to meet and surpass agreed targets

Accountant / Cashier:

  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for Crop & Clip 3D Printing™, LLC
  • Serves as internal auditor for Crop & Clip 3D Printing™, LLC

3D Printing Machine Operators

  • In charge of handling 3D printing, rapid prototyping, 3D printing support services, selective laser sintering (SLS), fused deposition modeling (FDM) and stereo lithography (SLA)
  • Liaises with clients to determine their requirement and budget
  • Works to a brief, which details what the space will be used for, and finding out the client’s personal ideas and requirements
  • Responsible for creating patterns and operating 3D printing machines cum equipment
  • Responsible for negotiating fees and setting schedules for the project
  • Responsible for researching and drawing up rough plans
  • Responsible for developing detailed designs and choosing materials
  • Responsible for preparing drafts or material based on an agreement brief.
  • Researches and advices the organization on style, genre and other trendy info as it relates to 3D printing and rapid prototyping et al.

Client Service Executive

  • Welcomes clients and visitors by greeting them in person or on the telephone; answering or directing inquiries.
  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the HR 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 potential clients when they make enquiries
  • Receives parcels / documents for the company
  • Distributes mails in the organization
  • Handles any other duties as assigned by the human resources and admin manager.

3D Printing Business Plan – SWOT Analysis

Crop & Clip 3D Printing™, LLC employed the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured 3D printing and rapid prototyping services business that can favorably compete in the highly competitive 3D printing and rapid prototyping services industry in the United States and the world at large.

Part of what the team of business consultant did was to work with the management of our organization in conducting a SWOT analysis for Crop & Clip 3D Printing™, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Crop & Clip 3D Printing™, LLC;

  • Strength:

Our core strength lies in the power of our team; our workforce. We have a team of creative and highly proficient 3D printers and rapid prototyping experts, a team with excellent qualifications and experience in various niche areas in the printing industry.

Aside from the synergy that exists in our carefully selected 3D printers and rapid prototyping experts, we have some of the latest and efficient 3D printing machines and equipment and of course our work output and services will be guided by international best practices in the industry.

  • Weakness:

As a new 3D printing and rapid prototyping services company in Los Angeles – California, it might take some time for our organization to break into the market and gain acceptance especially from the government and other high profile clients in the already saturated and highly competitive 3D printing and rapid prototyping services industry; that is perhaps our major weakness. Another weakness is that we may not have the required cash to promote our business the way we would want to.

  • Opportunities:

No doubt, the opportunities in the 3D printing and rapid prototyping services industry is massive considering the number of individuals and corporate organizations that would need the services of 3D printing and rapid prototyping services companies. As a standard 3D printing and rapid prototyping services company, we are ready to take advantage of any opportunity that is available in the industry.

  • Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power. Another threat that may likely confront us is the arrival of a new 3D printing and rapid prototyping services company in same location where our target market exist and who may want to adopt same business model like us.

3D Printing Business Plan – MARKET ANALYSIS

  • Market Trends

The 3D Printing and Rapid Prototyping Services industry over time has experienced rapid growth and this is due to rapid technological advancements, falling costs and new uses for 3D printing technology. Going forward, the demand for 3D printing and rapid prototyping service and of course the revenue generated is projected to increase rapidly as 3D printing and rapid prototyping explodes in popularity and accessibility, especially in consumer markets.

As a 3D printing and rapid prototyping services company with the aspiration to favorably compete in the industry, you are expected to keep tab with new trends and products that are always coming up in the industry.

It is important to state that in recent time, for any 3D printing and rapid prototyping services company to continue to stay in business and grow, they must continue to come up with highly creative design and concepts and also engage in other printing related services.

  • Our Target Market

Before starting our 3D printing and rapid prototyping services company, we are certain that there is a wide range of both corporate and individual clients who cannot successfully carry out promotions and branding of their products and services without hiring the services of 3D printing press.

We will ensure that we develop strategic pacts with corporate organizations, advertising and branding agencies, and religious organizations et al. This will give us several options to generate revenue for our company.

In view of that, we have created strategies that will enable us reach out to various corporate organizations and individual who we know can’t afford to do without our services. We have conducted our market research and survey and we will ensure that all our 3D printing and rapid prototyping services are well accepted in the market place. Below is a list of the people and organizations that we have specifically market our products and services to;

  • Banks, Insurance Companies and other related Financial Institutions
  • Blue Chips Companies
  • Corporate Organizations
  • Manufacturers and Distributors
  • Real Estate Owners, Developers, and Contractors
  • Research and Development Companies
  • The Government (Public Sector)
  • Schools (High Schools, Colleges and Universities)
  • Hotels
  • Celebrities, Politicians, Public Figures and Public Speakers
  • Sport Organizations
  • Religious Organizations
  • Political Parties
  • Television Stations
  • Printing Press (Publishing Houses) and Authors
  • Branding and Advertising agencies
  • Aspiring celebrities
  • Entrepreneurs and Start – Ups

Our Competitive Advantage

No doubt the competition in the 3D printing and rapid prototyping services industry is getting stiffer by the day, you have to be highly creative and come up with appealing designs and concepts and very neat jobs in order to survive in the industry.

The 3D printing and rapid prototyping services industry is indeed a profitable and at the same time a highly competitive industry; it enjoys strong demand as organizations and individuals continue to print materials for promotional purposes. Clients will only hire your services if they know that they can get nothing but the best from you.

We are quite aware that to be highly competitive in the 3D printing and rapid prototyping services industry means that you are not only expected to be able to deliver consistent and highly creative designs, but you must be able to meet set targets. No one would want to continue to hire your services if don’t always meet up with the target date of completion of projects.

Our competitive advantage lies in the power of our team; our workforce. We have a team of creative and highly proficient 3D printers and rapid prototyping experts, a team with excellent qualifications and experience in various niche areas in the printing industry.

Aside from the synergy that exists in our carefully selected 3D printers and rapid prototyping experts, we have some of the latest and efficient 3D printing machines and equipment and of course our work output and services will be guided by international best practices in the industry.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups 3D printing and rapid prototyping services companies in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

3D Printing Business Plan – SALES AND MARKETING STRATEGY

We are not ignorant of the fact that there are stiffer competitions in the 3D printing and rapid prototyping services industry; there are loads of 3D printing and rapid prototyping services companies jostling for contracts which is why we have been able to hire some of the best marketing experts to handle our sales and marketing.

Our sales and marketing team will be recruited based on their vast experience in the 3D printing and rapid prototyping services industry and they will be trained on a regular basis so as to be well equipped to meet their set targets and the overall business goal of Crop & Clip 3D Printing™, LLC.

Our goal is to grow Crop & Clip 3D Printing™, LLC to become one of the leading 3D printing and rapid prototyping services companies in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with not only in Los Angeles – California but also in other cities in the United States of America.

Crop & Clip 3D Printing™, LLC is set to make use of the following marketing and sales strategies to attract clients and win 3D printing and rapid prototyping services contracts;

  • Introduce our 3D printing and rapid prototyping Services Company by sending introductory letters alongside our brochure to corporate organizations, advertising and branding agencies, religious organizations and key stake holders.
  • Promptness in bidding for 3D printing and rapid prototyping services contracts from the government and other cooperate organizations
  • Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
  • List our business on yellow pages ads (local directories)
  • Attend relevant international and local expos, seminars, and business fairs et al
  • Create different packages for different category of clients in order to work with their budgets and still deliver excellent 3D printing and rapid prototyping services
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • Join local chambers of commerce and industries to network and market our services
  • Encourage word of mouth marketing from loyal and satisfied clients

Sources of Income

Crop & Clip 3D Printing™, LLC is established with the aim of maximizing profits in the 3D printing and rapid prototyping services industry and we are going to go all the way to ensure that we do all it takes to meet and surpass the expectations of all our clients.

Crop & Clip 3D Printing™, LLC will generate income by offering the following 3D printing and rapid prototyping services and other printing related services;

  • 3D printing
  • Rapid prototyping
  • 3D printing support services
  • Selective laser sintering (SLS)
  • Fused deposition modeling (FDM)
  • Stereo lithography (SLA)
  • The sale of 3D printers and supplies.
  • Screen printing consulting and advisory services
  • Other related printing services

Sales Forecast

One thing is certain, there would always be corporate organization and individual who would need the services of 3D printing and rapid prototyping companies whenever they have to conduct promotions and branding and also other related printing services.

We are well positioned to take on the available market in 3D printing and rapid prototyping services industry 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 our 3D printing and rapid prototyping services company to enviable heights.

We have been able to critically examine the 3D printing and rapid prototyping services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Los Angeles – California.

Below are the sales projections for Crop & Clip 3D Printing™, LLC, it is based on the location of our business and of course the wide range of our services and target market;

  • First Fiscal Year-: $250,000
  • Second Fiscal Year-: $400,000
  • Third Fiscal Year-: $750,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same 3D printing and rapid prototyping services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

  • Our Pricing Structure

If you are conversant with the 3D printing and rapid prototyping services industry, you will realize that the pricing structure ranges from fixed price rate to per square foot billing and even to the quantity of materials to be printed on. Almost all 3D printing and rapid prototyping services companies adopts all the available pricing system as it applies to the quantity of the job or project they are expected to execute.

At Crop & Clip 3D Printing™, LLC we will adopt all the pricing system as is obtainable in the industry but we will ensure that we keep the prices of our services a little below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance from corporate organizations who would hire our services to help them print on their promotional materials.

In addition, we will also offer special discounted rates to all our customers at regular intervals. We are aware that there are some one off 3D printing and rapid prototyping services jobs or government contracts which are always lucrative; we will ensure that we abide by the pricing model that is expected from contractors or organizations that bid for such contracts.

  • Payment Options

The payment policy adopted by Crop & Clip 3D Printing™, LLC 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. Here are the payment options that Crop & Clip 3D Printing™, LLC will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via online bank transfer
  • Payment via mobile money
  • Payment via Point of Sales Machines (POS Machines)
  • Payment via check
  • Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.

3D Printing Business Plan – Publicity and Advertising Strategy

We have been able to work with brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to become the number one choice for both corporate clients and individual clients in the whole of the Virginia Beach and beyond which is why we have made provisions for effective publicity and advertisement of our 3D printing and rapid prototyping services company.

Below are the platforms we intend to leverage on to promote and advertise Crop & Clip 3D Printing™, LLC;

  • Place adverts on both print (newspapers and magazines) and electronic media platforms
  • Sponsor relevant community based events / programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our services
  • Install our Bill Boards on strategic locations all around Los Angeles – California
  • Engage in road show from time to time in targeted neighborhoods
  • Distribute our fliers and handbills in target areas
  • Contact corporate organizations and residence in our target areas by calling them up and informing them of Crop & Clip 3D Printing™, LLC and the services we offer
  • List our 3D printing and rapid prototyping services company in local directories / yellow pages
  • Advertise our 3D printing and rapid prototyping services company in our official website and employ strategies that will help us pull traffic to the site.
  • Ensure that all our staff members wear our branded shirts and all our vehicles and trucks are well branded with our company logo et al.

3D Printing Business Plan – Financial Projections and Costing

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive. This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.

When it comes to setting up a 3D printing and rapid prototyping services business, the materials and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a 3D printing and rapid prototyping services company; it might differ in other countries due to the value of their money. However, this is what it would cost us to setup Crop & Clip 3D Printing™, LLC in Los Angeles – California, U.S;

  • Business incorporating fees in the United States of America will cost – $750.
  • The budget for Liability insurance, permits and license will cost – $3,500
  • Acquiring an office space or warehouse that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $150,000.
  • Equipping the office (computers, 3D printing machines and equipment, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $10,000
  • Amount required to purchase the needed software applications – $3,500
  • Launching an official Website will cost – $500
  • Amount need to pay bills and staff members for at least 2 to 3 months – $70,000
  • Additional Expenditure such as Business cards, Signage, Adverts and Promotions will cost – $5,000

Going by the report from the market research and feasibility studies conducted, we will need about two hundred thousand (350,000) U.S. dollars to successfully set – up a medium scale but standard 3D printing and rapid prototyping services company in the United States of America.

Generating Funds / Startup Capital for Crop & Clip 3D Printing™, LLC

Crop & Clip 3D Printing™, LLC is a family business that will be owned by Mr. Joseph Pascal and his immediate family members. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

  • Generate part of the start – up capital from personal savings and sale of his stocks
  • Generate part of the start – up capital from friends and other extended family members
  • Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $100,000 (Personal savings $85,000 and soft loan from family members $15,000) and we are at the final stages of obtaining a loan facility of $250,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

3D PRINTING BUSINESS GROWTH: Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Crop & Clip 3D Printing™, LLC 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. We know that one of the ways of gaining approval and winning customers over is to offer our 3D printing and rapid prototyping services 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.

Crop & Clip 3D Printing™, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner of our business strategy.

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 ten years or more as determined by the board of the organization. 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.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts various banks in the United States: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Securing a standard office facility plus renovation of the facility: Completed
  • Application for business license and permit: Completed
  • Purchase of All form of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Generating part of the start – up capital from the founders: Completed
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of Logo for the business: Completed
  • Secure trademark for our products: In Progress
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the needed 3D printing machines: Completed
  • Purchase of the needed furniture, office equipment, software applications, electronic appliances and facility facelift: In progress
  • Creating Official Website for the business: In Progress
  • Creating Awareness for the business: In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with vendors and key players in the industries: In Progress
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