Are you about starting a chalk production business? If YES, here is a complete sample chalk production business plan template & feasibility report you can use for FREE. Okay, so we have considered all the requirements for starting a chalk production business. We also took it further by analyzing and drafting a sample chalk production marketing plan template backed up by actionable guerrilla marketing ideas for chalk production businesses. So let’s proceed to the business planning section.
Table of Content
- 2. Executive Summary
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 13. Startup Expenditure (Budget)
Why Start a Chalk Production Business?
In recent times, there has been the high patronage of white boards. This owes to the fact that some folk are comfortable with using markers of different colors on white boards. Whilst the demand for whiteboards by schools, offices and even spiritual houses are high, on the other hand you still cannot rule out the high demands of good old chalks and blackboards.
Although it seems that technology has grown past the black boards; this isn’t to say that they aren’t still in demand. Unlike the white boards, the black boards are known to only comply with chalks. Chalk is used in schools and other learning establishments to write on the board. The demand for chalk is lofty and it is a very viable money spinner.
This is no wonder the production of chalks have continued to soar high. If you are however thinking to dabble into the production of chalks, then you must be ready to really learn the ropes and scale through all the necessary hurdles there are. Chalk production is a simple and easy procedure that wouldn’t pose a problem.
In as much as people can start this business in a local level on a small scale, it will be a wise decision to write a good business plan document especially if you choose to start the business on a large scale and as a standard business that can employ more than a handful of people. Below is a sample chalk production company business plan that will help you successfully launch your own business;
A Sample Chalk Production Business Plan Template
1. Industry Overview
Chalk Production industry is an industry that is highly thriving in countries in the African continent and in some part of Asia. Nigeria is one of the countries in Africa that has loads of players in the chalk production industry. Although the advent of a suitable and good alternative to chalk is flooding the African market, but that those not in any way stop aspiring entrepreneur from starting this business especially if they have done their due diligence and they are sure that there is a market for their product.
It is a fact that chalks are used in close to 100 percent of schools in rural areas and even in most public schools in urban areas in Nigeria and in Africa. Aside from chalk been used in schools, artisan such as tailors, shoes and bag markers and carpenters et al make use of chalk for marking purpose. This goes to show that there is indeed a large market for chalk production companies in Nigeria and in other African countries.
The Chalk Production line of business is indeed a thriving line of business and pretty much active in Africa, Asia and South America they generates several millions of US dollars annually from several registered and unregistered small – scale, medium scale and big chalk production businesses scattered all around Africa, Asia and South America. This line of business is responsible for the employment loads of people directly and indirectly all around the world.
Any aspiring entrepreneur that is considering starting chalk production business whether on a small scale or in a large scale should ensure that he or she conducts thorough market survey and feasibility studies so as to get it right. The truth is that, this type of business do pretty well when it is strategically positioned. Any location that is close to rural communities or places where people can’t afford whiteboard and makers.
Aside from choosing the right location for the business, the next thing to do would be the procurement of the needful machines, as well as ingredients needed to strike this production business off. They include the following; Chalk mold, Scrapers, the dryer, the hand gloves, the plaster of Paris, paint brushes, The Ultramarine blue, branded cartons, as well as packaging nylon bags. You could start off with these materials and as time goes on progress to more sophisticated machines as your business expands.
Over and above, chalk production business is a profitable business venture and it is open for any aspiring entrepreneur to come in and establish his or her business; you can chose to start on a small scale on a large scale with robust distribution network all across Nigeria, Africa and the global market.
2. Executive Summary
Uchenna & Sons Chalk Production Company is a standard and licensed chalk production company that will be based in Aba – Abia State, Nigeria. We are registered under the Nigerian Corporate Affairs Commission (CAC). Although we intend starting out on a small scale as a cottage company, but that will not in any way stop us from maximizing our potential in the chalk production line of business by exporting chalk from Nigeria to other countries of the world.
Our business goal as a chalk production company is to become the number one choice of schools and artisans in Nigeria and other countries of the world where we intend retailing our chalks. As a business, we are willing to go the extra mile to invest in owning our own world – class chalk production factory and also to hire efficient and dedicated employees. We have been able to secure permits from all relevant departments both at local government level and state level in Abia state.
Uchenna & Sons Chalk Production Company is set to redefine how standard chalk production business should be run, not just in Aba – Abia State, but also in the whole of the Nigeria. This is why we have put plans in place for continuous training of all our staff at regular interval.
No doubt the demand for chalks is not going to plummet any time soon because there will always be schools and artisans who need regular of chalks to be able to carry out their duties, which is why we have put plans in place to continue to explore all available market around the communities where we intend retailing our chalks. In the nearest future, we will ensure that we create a wide range of distribution channels all across Nigeria, the West African Coats and the World at large. With that, we know we will be able to maximize profits in our business.
Our strongest selling point at Uchenna & Sons Chalk Production Company is the unique distribution channels. There is hardly any customer that will purchase or make use of our well – produced quality chalks who would not want to come back and make more purchase – we take delight in welcoming repeat customers over and over again.
Uchenna & Sons Chalk Production Company will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our customers ‘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 customers.
Uchenna & Sons Chalk Production Company is a family business that will be owned by Mr. Emmanuel Uchenna and his immediate family members. Mr. Emmanuel Uchenna is an astute business man who has been able to start and grow several businesses before starting Uchenna & Sons Chalk Production Company. He has a degree in business administration from the University of Nigeria Nsukka and also an alumnus of FATE Foundation business school, Ijora – Lagos.
3. Our Products and Services
We are very much aware of the importance of having very good products and services. This is one of the reasons why we have made great plans to have the best of products and services. At Uchenna & Sons Chalk Production Company we will be involved in the production of white chalks and colored chalks, packing and wholesale distribution across Nigeria, West African Coats and the world at large.
Our intention of starting Uchenna & Sons Chalk Production Company is to make profits from the chalk production line of business and we will do all that is permitted by the law in Abia State – Nigeria to achieve our business aim and ambition.
4. Our Mission and Vision Statement
- Our vision as a chalk production business is to engage in wholesale distribution of white and colored chalks across Nigeria and to export chalks to other countries of the world.
- Our mission is to establish a standard and world class chalk production business that in our own capacity will favorably compete with leaders in the industry on the global stage. We want to build a chalk production company that will be listed amongst the top 5 chalk production brands in Africa.
Our Business Structure
Ordinarily, we would have succeeded in running a chalk production business with few employees, but as part of our plan to build a top flight chalk production business in Aba – Abia State, we have perfected plans to get it right from the onset which is why we are going the extra mile to ensure that we have competent employees to occupy all the available positions in our company.
The picture of the kind of chalk production business we intend building and the business goals we want to achieve is what informed the amount we are ready to spend to ensure that we build a business with dedicated workforce and robust distribution network.
In view of that, we have decided to hire qualified and competent hands to occupy the following positions at Uchenna & Sons Chalk Production Company;
- Chief Executive Officer (Owner)
- Chalk Production Plant Manager
- Human Resources and Admin Manager
- Sales and Marketing Officer
- Chalk Production Plant Casual Workers
- Truck Drivers/Chalk Wholesale Distributors
- Customer Service Executives
5. Job Roles and Responsibilities
Chief Baker/Chief Executive Officer – CEO (Owner):
- 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.
- 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 fixing prices and signing business deals
- 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
Chalk Production Plant Manager
- Responsible for overseeing the smooth running of the chalk production plant
- Makes sure that quality is maintained at all times
- Maps out strategy that will lead to efficiency amongst workers in the chalk production plant
- Responsible for training, evaluation and assessment of the workforce
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Ensures that the chalk production plant meets the expected safety and health standard at all times.
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- 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
- Oversees the smooth running of the daily business activities.
- Manages vendor relations, market/farm visits, and the ongoing education and development of the organizations’ buying teams
- Helps to ensure consistent quality and quantity of chalks are produced
- Responsible for the purchase of raw material and packaging materials
- Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
- Ensures that the organization operates within stipulated budget.
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 purchases
- Identifies, prioritize, and reach out to new partners, and business opportunities et al
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with customers
- 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
Chalk Production Plant Casual Workers
- Responsible for operating chalk production equipment
- Responsible for carrying out all casual or unskilled jobs in the chalk production plant
- Assists in loading and unloading of chalks and raw materials et al
- Handles any other duty as assigned by the chalk production plant manager
- 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
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
Distribution Truck Drivers
- Assist in loading and unloading raw materials and chalks.
- Maintain a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
- Keep a record of vehicle inspections and make sure the truck is equipped with safety equipment
- Assist the transport and logistics manager in planning their route according to a delivery schedule.
- Local-delivery drivers may be required to sell products or services to stores and businesses on their route, obtain signatures from recipients and collect cash.
- 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.) as well as with company policies and procedures
- Collect and verify delivery instructions
- Report defects, accidents or violations
Client Service Executive
- Ensures that all contacts with customer (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the store manager in an effective and timely manner
- Consistently stays abreast of any new information on Uchenna & Sons Chalk Production Company, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
6. SWOT Analysis
Due to our drive for excellence when it comes to running a standard chalk production business, we were able to engage some of the finest business consultants in Nigeria to look through our business concept and together we were able to critically examine the prospect of the business and to access ourselves to be sure we have what it takes to run a standard chalk production business that can compete favorably in the chalk production line of business in Africa.
In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in Nigeria and also in other parts of the world that we intend selling our chalks. Here is a of what we got from the critically conducted SWOT Analysis Uchenna & Sons Chalk Production Company;
Our strength lies in the fact that we have state of the art chalk production facility and equipment that has positioned us to meet the demand of chalk in Nigeria even if the demand tripled over night or if we have a massive order to meet and emergency need.
Another factor that counts to our advantage is the background of our Chief Executive Office; he has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired which has placed her amongst the top flight business men in Nigeria. We are not ignoring the fact that our team of highly qualified and dedicated workers will also serve as strength for our organization
We do not take for granted the facts that we have weaknesses. In fact, the reality that we are setting up a chalk production company in a city with other smaller and larger chalk production businesses might likely pose a challenge for us in breaking into the already saturated market in Nigeria.
In essence our chosen location might be our weakness. But never the less, we have plans to launch out with a big bang. We know with that, we will be able to create a positive impression and we have a proper handle when it comes to building on already gather momentum.
The opportunities available to us are unlimited. Loads of people make use of chalk on a daily basis and all what we are going to do to push our chalk to them is already perfected. Aba in Abia state is just ideal for chalk production business because of the creativity and readily available technology and labor in Aba – Abia State.
The threat that is likely going to confront us is the fact that we are competing with already established chalk production businesses in Abia State and also there are other entrepreneurs who are likely going to launch similar business within the location of our business.
Of course, they will compete with us in winning over the available market. Another threat that we are likely going to face is unfavorable government policies and economic downturn. Usually economic downturn affects purchasing / spending powers and unfavorable government policies.
7. MARKET ANALYSIS
- Market Trends
It is common trend in the chalk production line of business to find chalk production companies positioning their business in locations and communities where they can easily have access to chalk making raw materials and labor. If you make the mistake of positioning this type of business in a location where you would have to travel a distance before you can access chalk making raw materials in commercial quantities, then you would have to struggle to make profits and maintain your overhead and logistics.
So also another trend in this line of business is that most registered and well organized chalk production companies look beyond the market within their locations or even Nigeria; they are involved in packaging and exporting chalks to other countries in Africa where there is a large market for chalk.
8. Our Target Market
When it comes to retailing chalk, there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just a group of people, but all those who make use of chalk for teaching and also all those artisans who also make use of chalk for marking.
One thing is certain there are no restrictions to the demographic and psychographics composition of the target market for chalk in Nigeria and Africa as a whole. This goes to show that the target market for chalk is wide and far reaching, you can create your own make niche yourself to serve a specific purpose.
In view of that, we have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to engage in retailing and wholesale distribution cum exporting of chalks to the following groups of people;
- Schools that make use of chalk for teaching
- Tailors, Shoemakers, Bag makers, artists and other artisans who make use of chalks
- Bookshops and other retailers who are into the retailing of chalks
First and foremost, the fact that anybody with interest in the chalk production business can decide to start the business means that the business is open to all and sundry hence it is expected that there will be high – level competition in the industry. This is so because the technology involved in the production of chalk is not complicated.
As a standard chalk production company, we know that gaining a competitive edge requires a detailed analysis of the demographics of the surrounding area and the nature of existing competitors. And even if you are successful at first, new competitors could enter your market at any time to steal your regular customers. Hence we will not hesitate to adopt successful and workable strategies from our competitors.
We are going to be one of the very few chalk production companies in Aba – Abia State that will also engage in wholesale distribution of white chalks and colored chalks all across Nigeria and also export to other countries in Africa.
Another competitive advantage that we have is the vast experience of our management team, we have people on board who are highly experienced and understands how to grow business from the scratch to becoming a national phenomenon. Our large and robust distribution network and of course our excellent customer service culture will definitely count as a strong strength for the business.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups chalk production companies) in the industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Uchenna & Sons Chalk Production Company is established with the aim of maximizing profits in the chalk production line of business both in Abia State and throughout key cities in Nigeria and of course in some countries of the world.
We are going to go all the way to ensure that we do all it takes to sell our chalks both in retail and wholesale to a wide range of customers who make use of chalks. Uchenna & Sons Chalk Production Company will generate income by simply selling different colors of chalks.
10. Sales Forecast
One thing is certain when it comes to chalk production business, if your business is strategically positioned and easily accessible, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.
We are well positioned to take on the available market in Nigeria and every other countries of the world where we intend exporting our chalk to 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.
We have been able to critically examine the chalk production line of business 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 startups in Abia State – Nigeria.
Below are the sales projections for Uchenna & Sons Chalk Production Company, it is based on the location of our business and other factors as it relates to small scale and medium scale chalk production company start – ups in Nigeria;
- First Fiscal Year-: N500,000
- Second Fiscal Year-: N1.5 Million
- Third Fiscal Year-: N3.5 Million
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 product and customer care 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.
- Marketing Strategy and Sales Strategy
Before choosing a location to launch Uchenna & Sons Chalk Production Company, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market in Nigeria and the international market. We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time and also for to compete with other chalk production companies.
We hired experts who have good understanding of the chalk production line of business to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market for our products.
In other to continue to be in business and grow, we must continue to sell our chalks to the available market which is why we will go all out to empower or sales and marketing team to deliver our corporate sales goals. In summary, Uchenna & Sons Chalk Production Company will adopt the following sales and marketing approach to sell our chalks;
- Introduce our chalk product cum business by sending introductory letters to residence, merchants and other stakeholders both in Nigeria and abroad.
- Open our chalk production business 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 chalk 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 product cum business
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing (referrals)
11. Publicity and Advertising Strategy
Regardless of the fact that our chalk production business is a standard one that can favorably compete with other leading chalk production companies in Nigeria and in any part of the world, we will still go ahead to intensify publicity for all our products and brand. We are going to explore all available means to promote Uchenna & Sons Chalk Production Company.
Uchenna & Sons Chalk Production Company has a long term plan of exporting our product all across the Nigeria and other countries in Africa. This is why we will deliberately build our brand to be well accepted in Aba – Abia State before venturing out to other cities in Nigeria and the world. As a matter of fact, our publicity and advertising strategy is not solely for selling our products but to also effectively communicate our brand.
Here are the platforms we intend leveraging on to promote and advertise Uchenna & Sons Chalk Production Company;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
- Install our Bill Boards on strategic locations all around major communities in Nigeria
- Engage in road show from time to time in targeted communities
- Distribute our fliers and handbills in target areas
- Position our Flexi Banners at strategic positions in the location where we intend getting customers to start patronizing our chalks.
- Ensure that all our staff members wear our customized clothes, and all our official cars and distribution trucks are customized and well branded.
12. Our Pricing Strategy
At Uchenna & Sons Chalk Production Company we will keep the prices of our chalks below the average market rate for all of our customers by keeping our overhead low and by collecting payment in advance from schools that would require constant supply of chalks. 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 chalk supply contracts especially from government or school boards 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 Uchenna & Sons Chalk 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 Federal Republic of Nigeria.
Here are the payment options that Uchenna & Sons Chalk Production Company will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via online bank transfer
- Payment via Point of Sale Machines (POS)
- Payment via mobile money platforms
- 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 the purchase of chalks in wholesale.
13. Startup Expenditure (Budget)
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 chalk production business; it might differ in other countries due to the value of their money.
We know that no matter where we intend starting our chalk production company, we would be required to fulfill most of the items listed below;
- The Fee for registering the business (venture) in Nigeria – N15,000
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – N30,000
- Marketing promotion expenses for the grand opening of Uchenna & Sons Chalk Production Company – N150,000
- Cost for hiring Business Consultant – N50,000
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – N50,000
- Cost for payment of rent for 12 month and renovation inclusive – N240,000
- Other start-up expenses including stationery and phone and utility deposits – N5,000
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – N300,000
- The cost for Start-up inventory (Chalk mold, Scrapers, the dryer, the hand gloves, the plaster of Paris, paint brushes, The Ultramarine blue, branded cartons, as well as packaging nylon bags et al) – N320,000
- Cost for store equipment (cash register, security, ventilation, signage) – N10,000
- Cost of purchase of distribution trucks – N450,000
- The cost for the purchase of furniture and office equipment (Computers, Printers, Telephone, Fax Machines, tables and chairs et al) – N150,000
- The cost of Launching a Website – N25,000
- The cost for our opening party – N20,000
- Miscellaneous – N10,000
We would need an estimate of N1.2 million to successfully set up a standard and world class chalk production business. Please note that this amount includes the salaries of all the staff for the first 3 month of operation.
Generating Funding/Startup Capital for Uchenna & Sons Chalk Production Company
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 chalk production 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.
Uchenna & Sons Chalk Production Company is a family business that is owned and financed by Mr. Emmanuel Uchenna and his immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sell of stocks
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about N200,000 (Personal savings N180,000 and soft loan from family members N20,000) and we are at the final stages of obtaining a loan facility of N1 million from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
14. 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 Uchenna & Sons Chalk 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. We know that one of the ways of gaining approval and winning customers over is to retail our chalks 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.
Uchenna & Sons Chalk Production Company 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.
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of a facility and renovating the facility as well: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the needed chalk making equipment, furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Establishing business relationship with vendors – wholesale suppliers / merchants of chalks and chalk making raw materials and machines: In Progress
- Purchase of delivery trucks / vans: Completed
- A Guide to Great Business ideas for the Future 2025 – 2030 - September 3, 2021
- How Long Do Cordless Drill Batteries Last in 2021? - August 2, 2021
- How Does the Use of Cargo Containers Benefit the Economy? - August 2, 2021