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A Sample Powder Coating Business Plan Template

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

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

Why Start a Powder Coating Business?

Starting a business is perhaps one of the surest ways to grow out of poverty and become truly wealthy. The truth is that there are several business opportunities all around us that an aspiring entrepreneur can start from the scratch and grow to become a success. One of such businesses is to start a powder coating company.

If you intend starting your own powder coating business, then you must take out time to learn the trade because the truth is that it only takes someone who has the technical skills and one who is creative and can truly pay attention to details to be able to make it really big in this line of business.

It is worthy to mention that you must consider some factors when getting a location for your business. Since the powder coating business is a hazardous one because of the chemicals involved, the facility being used must meet certain standards. It must be located in an industrial area and not in a residential part of the town. This is done to protect people from inhaling the very harmful chemicals.

The facility is also required to meet all health, fire and safety standards of the state or country you are operating in. Some people who want to start on a small scale still choose to start from their garage and grow into getting a facility in an industrial area. If you choose starting out from your garage, be sure to make sure it is safe and you are not breaking the law that exist in your state or country.

Basically in launching this type of business, you would need a powder coating spray booth with adequate ventilation, exhaust ducts, spray guns, a curing oven, work benches and vices, IR Curing Lamps, Performance Deflector, a Tub and an area big enough for drying the objects coated.

Also, powder coating pigments and  materials needed in blending them, Dust mask, goggles, disposable hand gloves, Pressure Blaster, Blast Cabinet, Silicone Caps and Plugs, Hanging Wire, Wire Wheel, High Temperature Lab Metal, Pocket Infrared Thermometer, Shop Vacuum , Glass Beads, High Temperature Masking Tapes and air blown gun, et al. You can readily get all of the equipment from the market or order them online.

If you have made up your mind that starting a powder coating / metal plating and treating business is the right business for you, then you should consider reading through this business plan that will guide you to successfully launch yours.

A Sample Powder Coating Business Plan Template

  • Industry Overview

Powder coating simply means covering an object (metal objects) with a polyester or epoxy powder, then applying heat to enable it fuse into a protective layer thereby making the object highly durable and rust free. There are two types of powder coatings namely; the thermosets and thermoplastic.

Powder coating line of business falls under the metal plating and treating industry and the industry is made up of companies that carry out work on a metal or metal product to alter not only its surface and appearance, but also its physical and chemical properties.

Players in this industry achieve this through applying a coating, engraving or another form of metal treatment. Basically, powder coating / metal plating and treating companies provide services to metal or metal-product manufacturers.

Statistics has it that the global demand for powder coatings rose to an estimated value of $5.8 billion in 2010 alone, and still it is  growing consistently on an annual basis. Powder coating is a big market and it is yet to be fully explored.

For instance the Automotive, IT and Telecommunication industries, plus furniture and appliance markets are such that would always need powder coating. This is no wonder those offering the powder coating business find it challenging to fully handle all the demands.

The Powder Coating / Metal Plating & Treating 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 4,929 registered and licensed powder coating / metal plating and treating companies scattered all across the United States, responsible for employing about 115,066 workers and the industry rakes in about $28 billion annually.

Going forward, the industry is projected to grow at the rate of -0.6 percent annually. It is important to state that the market for this industry is pretty much open for aspiring entrepreneurs; no company can boast of dominating the industry.

In as much as the market for powder coating services is growing all over the globe, you must adopt a workable marketing strategy to be able to make good sales and huge profits from the industry. You can go into contract agreements with those who are into metal and steel production.

As simple as it sounds, if you don’t carry out a proper research before venturing into this type of business, you might end up losing your investment. It is imperative that you conduct a research so that you are be able to know what is required in the market, how to source for raw materials and equipment, where to get the right kind of staffs, and loads of other information that will be useful to you.

Over and above, the powder coating / metal plating and treating services industry is very open to any aspiring entrepreneur who have acquired the required trainings, skills, tools and perhaps professional certifications to start his or her own powder coating business and of course make good money from the industry.

Powder Coating Business Plan – Executive Summary

Pence Perry Powder Coating®, LLC is a U.S based and standard powder coating / metal plating and treating company that will be based in Santa Fe – New Mexico. We have been able to secure a standard and well – positioned workshop facility in a central industrial estate in Santa Fe – New Mexico.

We are a powder coating / metal plating and treating company that is set to compete in the highly competitive powder coating / metal plating & treating services industry not only in New Mexico, but also throughout the United States and the global market.

Pence Perry Powder Coating®, LLC will offers services such as heat treating metals and metal products, enameling, lacquering, and varnishing metals and metal products, hot dip galvanizing metals and metal products, engraving, chasing and etching metals and metal products, powder coating metals and metal products, electroplating, plating, anodizing, coloring and finishing metals and metal products, and providing other metal surfacing services for trade.

Our business goal is to become one of the leading powder coating / metal plating and treating companies in the United States and we will make sure that we do all we can to compete favorably with leaders in the industry all over the globe.

Our workers are going to be selected from a pool of certified and highly experienced powder coating / metal plating and treating  technicians in and around Santa Fe and also from any part of the United States of America 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 powder coating / metal plating and treating companies in the United States and throughout the globe.

At Pence Perry Powder Coating®, LLC, our client’s best interest will always 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 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 all our partners, employees and for our clients.

Pence Perry Powder Coating®, LLC is founded by Pence Perry an engineer per excellence who graduated with from Illinois Institute of Technology (B.Engr. in Metal & Metallurgy). He has well over 7 years of hands on experience that can help Pence Perry Powder Coating®, LLC to favorably compete with other leading powder coating / metal plating and treating services businesses in the United States of America and all around the world.

  • Our Product and Services

Pence Perry Powder Coating®, LLC is established with the aim of maximizing profits in the powder coat / metal plating and treating services industry. We want to compete favorably with the leading powder coating / metal plating and treating companies in the United States which is why we have but in place a competent quality assurance team that will ensure that every job carried out in our industry or related services rendered meet and even surpass our customers’ expectations.

We will work hard to ensure that Pence Perry Powder Coating®, LLC is not just accepted in Santa Fe – New Mexico but also in other cities in the United States of America. Our products and services are listed below;

  • Heat treating metals and metal products
  • Enameling, lacquering, and varnishing metals and metal products
  • Hot dip galvanizing metals and metal products
  • Engraving, chasing and etching metals and metal products
  • Powder coating metals and metal products
  • Electroplating, plating, anodizing, coloring and finishing metals and metal products
  • Providing other metal surfacing services for trade

Our Vision Statement

Our vision is to establish a standard and world class powder coating / metal plating and treating company whose services, products and brand will not only be accepted in Santa Fe – New Mexico but also in other cities in the United States of America and throughout the world.

  • Our Mission Statement

Our mission is to provide professional powder coating / metal plating and treating services and other related services that will assist businesses, individuals, households and organizations in ensuring that their metal products / tools / equipment are always in good shape and highly presentable. We want to build a powder coating / metal plating and treating company that can favorably compete with other leading brands in the industry.

  • Our Business Structure

Pence Perry Powder Coating®, LLC, is a powder coating / metal plating and treating company that intend starting small in Santa Fe – New Mexico, but hope to grow big in order to compete favorably with leading powder coating / metal plating and treating 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 Pence Perry Powder Coating®, 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
  • Head, Technical Services (Powder Coating / Metal Plating and Treating Expert)
  • Human Resources and Admin Manager
  • Sales and Marketing Executive
  • Accountant
  • Powder Coating / Metal Plating and Treating Technicians (10)
  • 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. leading 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

Head, Technical Services (Diamond Cutting and Polishing Expert):

  • Serves as project manager of the organization; works directly with employees
  • 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; establishing personal networks; benchmarking state-of-the-art practices; participating in professional societies.
  • Makes certain that the technical department perform efficiently, coordinate employee efforts, and facilitate communications between management and technicians
  • Ensures that the organization work in line with international best practices as it relates to powder coating / metal plating and treatment.

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • 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.
  • Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
  • Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
  • 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
  • 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
  • Empowers 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
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for Pence Perry Powder Coating®, LLC
  • Serves as internal auditor for Pence Perry Powder Coating®, LLC.

Powder Coating / Metal Plating and Treating (Technicians)

  • Responsible for carrying out heat treating of metals and other metal products
  • Handles enameling, lacquering, and varnishing metals and metal products
  • Responsible for hot dip galvanizing metals and metal products
  • In charge of engraving, chasing and etching metals and metal products
  • Handles powder coating of metals and other metal products
  • Handles electroplating, plating, anodizing, coloring and finishing metals and metal products
  • Responsible for providing other metal surfacing services for the company.

Client Service Executive

  • Welcomes clients and potential clients 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 creative director 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 clients when they make enquiries

Powder Coating Business Plan – SWOT Analysis

We are quite aware that there are several powder coating and metal plating and treating companies scattered all across the United States, which is why we are following the due process of establishing a business. 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.

Pence Perry Powder Coating®, LLC engaged the services of a core professional in the area of business consulting and structuring to assist our organization in building a well – structured powder coating / metal plating and treating business that can favorably compete in the highly competitive powder coating / metal plating and treating 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 comprehensive SWOT analysis for Pence Perry Powder Coating®, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Pence Perry Powder Coating®, LLC;

  • Strength:

Our core strength lies in the power of our team; our workforce. We have a team of certified and highly trained and experienced powder coating metal plating and treating (technicians), a team with excellent qualifications and experience in various niche areas in the powder coating / metal plating and treating service industry.

Aside from the synergy that exists in our carefully selected workforce, we have state of the art workshop with highly efficient tools and machines plus the fact that our services will be guided by international best practices in the powder coating / metal plating and treating services industry.

  • Weakness:

As a new powder coating / metal plating and treating company in Santa Fe – New Mexico, it might take some time for our organization to break into the market and gain acceptance especially from top profile clients in the already saturated and highly competitive powder coating / metal plating and treating services industry; that is perhaps our major weakness. Another weakness is that we may not have the required cash to pump into promoting our business the way we would want to.

  • Opportunities:

No doubt, the opportunities in the powder coating / metal plating and treating services industry is massive considering the number of individuals, households and businesses who would usually want their metal related products to always appear good and in good shape. As a powder coating / metal plating and treating 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 powder coating / metal plating and treating company in same location where our target market exist and who may want to adopt same business model like us.

Powder Coating Business Plan – MARKET ANALYSIS

  • Market Trends

If you are conversant with the trends in the powder coating / metal plating and treating services industry, you will agree that, in the past five years, the industry has lost some of its gains over the years. As a matter of fact, the declining steel prices resulted in mixed demand from key downstream customers.

Going forward, the industry is projected to experience significant potential for revenue growth as consumer and business confidence increase. So also, as consumers and businesses become more confident in the health of the economy, they are likely to increase demand for products manufactured by powder coating / metal plating and treating services.

Lastly, the powder coating / metal plating and treating industry is still going to be dominated by operators who have succeeded in positioning their company in cities that are notable for this trade, or in locations where the demographic composition is made up of people who have high purchasing powers.

  • Our Target Market

Before starting our powder coating / metal plating and treating business in Santa Fe – New Mexico, we conducted a market survey and feasibility studies and we are certain that there is a wide range of both corporate and individual clients who would need our services.

In view of that, we have created strategies that will enable us reach out to various corporate organizations, households and individual clients who we know can’t afford to do without our services. Below is a list of the people and organizations that we have specifically market our products and services to;

  • Households
  • Players in the construction industries
  • Furniture manufacturers
  • Automotive garages
  • Artists that work with metals and related materials
  • Public Works Department
  • Small businesses that make use of metal and related materials
  • Facility and Property Mangers

Our Competitive Advantage

Surviving in the business world as a powder coating / metal plating and treating company requires more than, your expertise, knowing how to deliver standard and well –  coated metals but also how to network with key people that matters; decision makers that can decide who will get a powder coating / metal plating and treating contract.

Without a shadow of doubt, there are loads of big time investors that have a stake in the powder coating / metal plating and treating services industry; but one thing is certain, there is room big enough to accommodate big powder coating / metal plating and treating companies and the smaller powder coating / metal plating and treating companies.

We are quite aware that to be highly competitive in the powder coating / metal plating and treating services industry means that you are not only expected to be able to deliver consistent and highly reliable and well – coated metals, 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 certified and highly trained and experienced powder coating metal plating and treating (technicians), a team with excellent qualifications and experience in various niche areas in the powder coating / metal plating and treating service industry.

Aside from the synergy that exists in our carefully selected workforce, we have state of the art workshop with highly efficient tools and machines plus the fact that our services will be guided by international best practices in the powder coating / metal plating and treating services industry.

Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category (startups powder coating / metal plating and treating services businesses 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.

Powder Coating Business Plan – SALES AND MARKETING STRATEGY

We are mindful of the fact that there are stiffer competitions in the powder coating / metal plating and treating services industry, hence 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 powder coating / metal plating and treating services industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall business goal of Pence Perry Powder Coating®, LLC.

Our corporate goal is to grow Pence Perry Powder Coating®, LLC to become one of the top 10 powder coating / metal plating and treating services brands in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in Santa Fe – New Mexico but also in other cities in the United States of America and the global market.

Pence Perry Powder Coating®, LLC is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our powder coating / metal plating and treating company by sending introductory letters alongside our brochure to individuals, households, corporate organizations, and key stake holders in the United States of America.
  • Promptness in bidding for powder coating / metal plating and treating contracts from the big time construction companies and facility managers
  • 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 services
  • Leverage on the internet to promote our business
  • Engage direct marketing approach
  • Encourage word of mouth marketing from loyal and satisfied clients
  • Join local chambers of commerce and industries with the aim of networking and marketing our services.

Sources of Income

Pence Perry Powder Coating®, LLC is established with the aim of maximizing profits in the powder coating / metal plating and treating services industry and we are going to go all the way to ensure that we do all it takes and all that is permitted by the law in the United States to meet and surpass the expectations of all our clients.

Pence Perry Powder Coating®, LLC will generate income by offering the services;

  • Heat treating metals and metal products
  • Enameling, lacquering, and varnishing metals and metal products
  • Hot dip galvanizing metals and metal products
  • Engraving, chasing and etching metals and metal products
  • Powder coating metals and metal products
  • Electroplating, plating, anodizing, coloring and finishing metals and metal products
  • Providing other metal surfacing services for trade

Sales Forecast

One thing is certain; there would always be corporate organization, households and individual who would need the services of powder coating / metal plating and treating companies.

We are well positioned to take on the available market in the powder coating / metal plating and treating 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 powder coating / metal plating and treating company to profitability and enviable heights.

We have been able to critically examine the powder coating / metal plating and treating 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 Santa Fe – New Mexico.

Below are the sales projections for Pence Perry Powder Coating®, 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-: $550,000
  • Third Fiscal Year-: $900,000

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 powder coating / metal plating and treating 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 Strategy

At Pence Perry Powder Coating®, LLC we will keep the prices of our powder coating / metal plating and treating services 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. 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 powder coating / metal plating and treating 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 Pence Perry Powder Coating®, 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 Pence Perry Powder Coating®, LLC will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via POS
  • Payment via mobile money platform
  • Payment via online bank transfer
  • 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 services.

Powder Coating Business Plan – Publicity and Advertising Strategy

Despite the fact that our powder coating / metal plating and treating company is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our brand. Pence Perry Powder Coating®, LLC has a long term plan of welcoming clients from all over the United States which is why we will deliberately build our brand to be well accepted in Santa Fe – New Mexico before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand throughout the United States of America. Here are the platforms we intend leveraging on to promote and advertise Pence Perry Powder Coating®, LLC;

  • Place adverts on community based newspapers, radio stations and TV stations.
  • Encourage the use of word of mouth publicity from our loyal customers
  • Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook ,Twitter, LinkedIn, Snapchat, Badoo, Google+  and other platforms to promote our business.
  • Ensure that our we position our banners and billboards in strategic positions all around Santa Fe – New Mexico
  • Distribute our fliers and handbills in target areas in and around our neighborhood
  • Contact corporate organizations, households, construction companies and facility managers et al by calling them up and informing them of Pence Perry Powder Coating®, LLC and our services
  • Advertise our powder coating / metal plating and treating business in our official website and employ strategies that will help us pull traffic to the site
  • Brand all our official cars and vans and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

Powder Coating 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.

The tools 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 standard powder coating / metal plating and treating company; it might differ in other countries due to the value of their money.

However, this is what it would cost us to set up Pence Perry Powder Coating®, LLC in the United of America;

  • 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 that will accommodate the number of employees for at least 6 months (Re – Construction of the facility inclusive) will cost – $100,000.
  • The amount required to purchase the needed powder coating / metal plating and treating equipment and machine (powder coating spray booth with adequate ventilation, exhaust ducts, spray guns, a curing oven, work benches and vices, IR Curing Lamps, Performance Deflector, a Tub and an area big enough for drying the objects coated. Also , powder coating pigments and  materials needed in blending them, Dust mask, goggles, disposable hand gloves, Pressure Blaster, Blast Cabinet, Silicone Caps and Plugs, Hanging Wire, Wire Wheel, High Temperature Lab Metal, Pocket Infrared Thermometer, Shop Vacuum , Glass Beads, High Temperature Masking Tapes and air blown gun, et al) – $25,000
  • Equipping the office (computers, printers, projectors, markers, servers / internet facility, furniture, telephones, filing cabinets, and electronics) will cost – $30,000
  • Amount required to purchase the needed software applications to run our business – $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 and fifty thousand (250,000) U.S. dollars to successfully set – up a medium scale but standard powder coating / metal plating and treating company in the United States of America.

Generating Funds / Startup Capital for Pence Perry Powder Coating®, LLC

No matter how fantastic your business idea might be, if you don’t have the required money to finance the business, the business might not become a reality. Finance is a very important factor when it comes to starting a business such as powder coating / metal plating and treating business. No doubt raising start – up capital for a business might not come cheap, but it is a task that an entrepreneur must go through.

Pence Perry Powder Coating®, LLC is a business that will be owned and managed by Engr. Pence Perry and his immediate family members. They are the sole financier of the business which is why they have 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 $70,000 and soft loan from family members $30,000) and we are at the final stages of obtaining a loan facility of $150,000 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.

POWDER COATING 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 Pence Perry Powder Coating®, 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 powder coating / metal plating and treating services a little bit cheaper than what is obtainable in the market and also to ensures that our finished jobs can favorably compete with the best in any part of the world and we are well prepared to survive on lower profit margin for a while.

Pence Perry Powder Coating®, 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.

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. 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 workshop facility for our business: 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
  • Purchase of repair and installation tools and equipment: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the needed powder coating / metal plating and treating equipment / 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 powder coating / metal plating and treating industries: In Progress
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