Are you about starting a paper bag manufacturing company? If YES, here is a complete sample paper bag manufacturing business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a paper bag manufacturing company. We also took it further by analyzing and drafting a sample paper bag manufacturing company marketing plan template backed up by actionable guerrilla marketing ideas for paper bag manufacturing companies. So let’s proceed to the business planning section.
Table of Content
- 1 Why Start a Paper Bag Manufacturing Business?
- 2 Paper Bag Manufacturing Business Plan – Executive Summary
- 3 Paper Bag Manufacturing Business Plan – SWOT Analysis
- 4 Paper Bag Manufacturing Business Plan – MARKET ANALYSIS
- 5 Paper Bag Manufacturing Business Plan – SALES AND MARKETING STRATEGY
- 6 Paper Bag Manufacturing Business Plan – Publicity and Advertising Strategy
- 7 Paper Bag Manufacturing Business Plan – Sustainability and Expansion Strategy
Why Start a Paper Bag Manufacturing Business?
Starting a business of your own is one sure way of becoming financially stable. Business ideas are all around us but one of the challenges that aspiring entrepreneurs are confronted with is how to know a business that can become profitable and successful.
The rule of thumb in choosing a business to launch is to look out for a business whose products or services are needed in our everyday life; a business whose products can be purchased by the rich as well as the poor and a business that is less competitive in your location.
One of such businesses is the paper bag manufacturing business. It is a fact that paper bags are used by the rich as well as the poor. A paper bag manufacturing business is indeed a profitable business that an aspiring entrepreneur with the required startup capital can successfully launch and grow from scratch to profitability.
If you are interested in starting a paper bag manufacturing company, then you would find this sample paper bag manufacturing company business plan template highly useful.
A Sample Paper Bag Manufacturing Business Plan Template
- Industry Overview
Paper bag is one commodity that is used mostly in the retailing industry for packaging goods that are bought from departmental stores, supermarkets, and in the open market; although nylon bags cum polythene bags are also used, but most people prefer paper bags. This goes to show that there is indeed a very large market for paper bags in our world; hence loads of investors cum aspiring entrepreneur are pitching their tent in the paper bag manufacturing industry.
Businesses in the Cardboard Packaging and Paper Bag Manufacturing industry manufacture various sizes and designs of paper bags for the purpose of hauling goods or groceries. Aside from the manufacturing of paper bags, companies in this line of business also manufacture cardboard packaging and sacks. Cardboard packaging includes corrugated and solid cardboard boxes, folding cartons and customized cardboard containers.
In recent time, the conditions in the Cardboard Packaging and Paper Bag Manufacturing industry have been relatively volatile. The revenue generated in the industry is heavily influenced by national demand for consumer goods, as the majority of the products that are produced in the industry are sold for downstream use in the fast-moving consumer goods (FMCG) sector.
The Cardboard Packaging and Paper Bag Manufacturing industry is indeed a major sector of the economy of most countries in the world. Statistics has it that in the United Kingdom alone, the Cardboard Packaging and Paper Bag Manufacturing industry generates well over $4 billion annually from more than 483 registered and licensed big scale cardboard packaging and paper bag manufacturing companies scattered all around the United Kingdom.
The industry is responsible for the employment of over 26,885 people. Experts project the industry to grow at a 1.5 percent annual rate. The establishment in this industry that has a dominant market share in the United Kingdom are; DS Smith Packaging Ltd, SAICA Pack UK Limited and Smurfit Kappa UK Ltd.
Over and above, the Cardboard Packaging and Paper Bag Manufacturing industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can choose to start on a small scale or you can choose to start on a large scale with standard manufacturing factories both in the United States of America and in countries in Asia where you can get cheaper labor and raw materials.
Paper Bag Manufacturing Business Plan – Executive Summary
Red Ribbon® Paper Bag Manufacturing Co is a US registered paper bag and cardboard manufacturing company that will be located in Trenton – New Jersey; in an ideal location that is highly suitable for the kind of business we want to establish. We have been able to lease a facility that is big enough (a 25 thousand square foot facility) to fit into the design of the kind of standard paper bag and cardboard manufacturing company that we intend establishing.
Red Ribbon® Paper Bag Manufacturing Co will be involved in the manufacturing of a wide range of paper bags and cardboard packing cum casing for both corporate and individual clients. We are set to service a wide range of clientele not just in the United States of America, but also all parts of the world.
We are aware that there are several large and small paper bag manufacturing companies all around the United States of America, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.
Red Ribbon® Paper Bag Manufacturing Co will ensure that all the paper bags that leave our factory are of the highest quality and highly durable and affordable. We want to build a business with a wide range of client base that cut across businesses in the fast-moving consumer goods (FMCG) sector. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large our customer base may grow to.
Red Ribbon® Paper Bag Manufacturing Co 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 whenever they patronize our products.
Red Ribbon® Paper Bag Manufacturing Co is a family business that is owned by Douglas Emerson and his immediate family members. Douglas Emerson has a Diploma in paper bag cum cardboard making and a B.Sc. in Business Administration, with over 12 years of experience in the cardboard and paper bag manufacturing industry. He will be bringing in his vast experience to build Red Ribbon® Paper Bag Manufacturing Co to become a top brand.
- Our Product Offering
Red Ribbon® Paper Bag Manufacturing Co is in the paper bag manufacturing industry to manufacture a wide range of paper bags and cardboard casing for both corporate and individual clients. We are set to service a wide range of clientele not just in the United States of America, but also all parts of the world and of course to make profits, which is why we will ensure we go all the way to give our clients options.
Our product offerings are listed below;
- Customized paper bags for events
- Paper bags for food storage
- Paper bags for grocery
- Paper bags for trash
- Paper bags for packaging
- Corrugated cardboard boxes, cartons and cases
- Non-corrugated cardboard boxes, cartons and cases
- Corrugated cardboard in rolls or sheets
Our Vision Statement
Our vision is to become the leading brand in the cardboard packaging and paper bag manufacturing industry in New Jersey and to establish a one stop cardboard packaging and paper bag manufacturing company.
- Our Mission Statement
Our mission is to establish a world – class paper bag manufacturing company whose products will not only be used by both small and big corporations in the FMCG sector in the United States of America, but also be exported to other countries of the world.
- Our Business Structure
Red Ribbon® Paper Bag Manufacturing Co do not intend to start our paper bag manufacturing business in a small scale; our intention of starting the company is to build a standard and one stop paper bag manufacturing company in Trenton – New Jersey.
Although our cardboard packing and paper bag manufacturing company might not be as big as DS Smith Packaging Ltd, SAICA Pack UK Limited and Smurfit Kappa UK Ltd et al, but we will ensure that we put the right structures in place that will support the kind of growth that we have in mind while setting up the business.
We will make sure that we employ people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders. 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 ten years or more.
In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer (Owner)
- Factory Manager
- Human Resources and Amin Manager
- Merchandize Manager
- Sales and Marketing Manager
- Paper Bags Designers and Making Experts
- Customer Services 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.
- Accountable for fixing prices and signing business deals
- In control of providing direction for the business
- Creating, communicating, and implementing 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
- Appraises the success of the organization
Administrative 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.
- Defining job positions for recruitment and managing interviewing process.
- Carrying out staff induction for new team members.
- Responsible for training, evaluation and assessment of employees.
- Responsible for arranging travel, meetings and appointments.
- Oversee the smooth running of the daily office activities.
- Responsible for managing the daily activities in the paper bag manufacturing factory
- Ensures that proper records of cardboard packing materials and paper bags are kept and warehouse does not run out of finished products
- Ensure that the factory is in tip top shape
- Interfaces with third – party suppliers (vendors) of raw materials
- Control cardboard packaging and paper bag distribution and supply inventory
- Supervise the workforce in the cardboard packing and paper bag manufacturing factory
- Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
- Helps to ensure consistent quality of cardboard packing and paper bag making raw materials are purchased and used
- Responsible for the purchase of cardboard packing and paper bag raw material for the organizations
- Responsible for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
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
- Recognizes, arranges, and spreads out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding sales
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
Cardboard Packing and Paper Designers and Making Experts
- Responsible for designing and manufacturing customized paper
- Responsible for designing and manufacturing paper bags for food storage
- Responsible for designing and manufacturing paper bags for grocery
- Responsible for designing and manufacturing paper bags for merchandise
- Responsible for designing and manufacturing paper bags for trash
- Responsible for designing and manufacturing paper bags for packaging
- Responsible for designing and manufacturing corrugated cardboard boxes, cartons and cases
- Responsible for designing and manufacturing non-corrugated cardboard boxes, cartons and cases
- Responsible for designing and manufacturing corrugated cardboard in rolls or sheets
- 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.
Client Service Executive
- 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 customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
Paper Bag Manufacturing Business Plan – SWOT Analysis
Red Ribbon® Paper Bag Manufacturing Co is in business to become one of the leading paper bag manufacturing companies in the United States of America and we are fully aware that it will take the right business concept, management and organizational – structure to achieve our goal.
We know that there are several paper bag manufacturing companies all over the United States of America and even in the same location where we intend locating ours, 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.
Red Ribbon® Paper Bag Manufacturing Co employed the services of an expert HR and Business Analyst with bias in the manufacturing industry to help us conduct a thorough SWOT analysis and to help us create a business model that will help us achieve our business goals and objectives.
This is the summary of the SWOT analysis that was conducted for Red Ribbon® Paper Bag Manufacturing Co;
Our main strength lies in the high quality of our finished cardboard packing materials and paper bags, the power of our team and our state-of-the-art paper bag manufacturing factory. We have a team of highly trained and experienced paper bag designers and makers and support staff members that can go all the way to produce top notch cardboard and paper bags. We are well positioned in the heart of Trento – New Jersey and we know we will attract loads of clients from the first day we open our factory.
A major weakness that may count against us is the fact that we are a new cardboard and paper bag manufacturing company and we don’t have the financial capacity to compete with multi – million dollars companies in the industry when it comes to selling our products at rock bottom prices. So also, we may not have enough cash reserve to promote our business the way we would want to do.
The fact that we are going to be operating our cardboard and paper bag manufacturing company in Trento – New Jersey provides us with unlimited opportunities to sell our products to a large number businesses. We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be expecting from us.
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 cardboard and paper bag manufacturing company in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.
Paper Bag Manufacturing Business Plan – MARKET ANALYSIS
- Market Trends
The condition in the Cardboard and Paper Bag Manufacturing industry have been relatively volatile. The revenue generated in the industry is heavily influenced by national demand for consumer goods, as the majority of the products that are produced in the industry are sold for downstream use in the fast-moving consumer goods (FMCG) sector.
One major trend in the cardboard and paper bag manufacturing industry is that most players are leveraging on the fact that states in the US and even countries of the world are passing a legislation that will limit the use of nylon and polythene bags because of environmental hazard hence paper bags have become a good substitute.
Lastly, as part of marketing strategies, paper bag manufacturing companies now ensure that they go beyond mass production of paper bags and cardboard to producing customized paper bags for bigger corporations who are in the fast-moving consumer goods (FMCG) sector.
- Our Target Market
There is hardly any pharmaceutical store, departmental store, groceries store, electronic stores supermarkets or boutique that do not make use of paper bags or cardboard boxes for packaging goods bought from their stores.
In view of that, we have positioned our paper bags manufacturing company to service a wide range of clientele in the United States of America and other parts of the world. We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.
We in the paper bag manufacturing industry will supply our products to the following fast-moving consumer goods organizations;
- Departmental Stores
- Groceries Stores
- Pharmaceutical Stores
- Electronic Stores
- Shoe manufacturing companies
- Fast food restaurants
- Mobile phones and accessories stores
Our Competitive Advantage
A close examination of the paper bag manufacturing industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative with your designs and market approach if you must survive in this industry. We are aware of the stiff competition and we are well prepared to compete favorably with other leading paper bag manufacturing companies in the United States and the globe.
Red Ribbon® Paper Bag Manufacturing Co is launching a standard paper bag manufacturing company that will indeed become the preferred choice for businesses in the fast-moving consumer goods sector both in the United States of America and other countries of the world. Our paper bag manufacturing company is located in an ideal property highly suitable for the kind of manufacturing company that we want to run.
One thing is certain, we will ensure that we manufacture high quality and durable cardboard and paper bags in our factory at all times. Our excellent customer service culture, various payment options and highly secured facility will serve as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category 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.
Paper Bag Manufacturing Business Plan – SALES AND MARKETING STRATEGY
- Sources of Income
Red Ribbon® Paper Bag Manufacturing Co is in business to manufacture and supply cardboard and paper bags in the United States of America and other parts of the world. We are in the cardboard and paper bag manufacturing industry to maximize profits and we are going to go all the way out to ensure that we achieve our goals.
Red Ribbon® Paper Bag Manufacturing Co will generate income by selling the following products;
- Customized paper bags
- Paper bags for food storage
- Paper bags for grocery
- Paper bags for merchandise
- Paper bags for trash
- Paper bags for packaging
- Corrugated cardboard boxes, cartons and cases
- Non-corrugated cardboard boxes, cartons and cases
- Corrugated cardboard in rolls or sheets
The paper bag manufacturing industry has a wide range of customers that cut across various manufacturing industries.
We are well positioned to take on the available market in the United States of America and of course the rest of the world and we are quite optimistic that we will meet our set target of generating enough profits from the first six months of operation and grow the business and our clientele base.
We have been able to critically examine the cardboard and paper bag manufacturing industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Trenton – New Jersey.
- First Fiscal Year: $250,000
- Second Fiscal Year: $650,000
- Third Fiscal Year: $1.2 million
N.B: This projection was 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 manufacturing or retailing same products as we do within the 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 for Red Ribbon® Paper Bag Manufacturing Co, we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become one of the preferred choice for businesses in Trenton – New Jersey. We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.
We hired experts who have good understanding of the cardboard and paper bag manufacturing industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in the United States of America.
In other to continue to be in business and grow, we must continue to manufacture and sell the cardboard and paper bags that we produce which is why we will go all out to empower or sales and marketing team to deliver. In summary, Red Ribbon® Paper Bag Manufacturing Co will adopt the following sales and marketing approach to win customers over;
- Open our paper bag manufacturing company in a grand style with a party for all
- Introduce our paper bag manufacturing company by sending introductory letters alongside our brochure to manufacturing organizations, stores and key stakeholders in Trenton – New Jersey and other parts of the United States
- Ensure that we manufacture a wide range of paper bags and cardboard
- Make use of attractive hand bills to create awareness and also to give direction to our factory
- Position our signage/flexi banners at strategic places around Trenton – New Jersey
- Create a loyalty plan that will enable us reward our regular customers
- Engage in roadshows within our neighborhood to create awareness for our products
- List our business and products on yellow pages ads (local directories)
- Leverage on the internet to promote our products
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing (referrals)
Paper Bag Manufacturing Business Plan – Publicity and Advertising Strategy
Even though our paper bag manufacturing company is well positioned, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our cardboard and paper bag manufacturing company.
Red Ribbon® Paper Bag Manufacturing Co has a long – term plan of opening our factories in key locations in Asia, South America and Africa which is why we will deliberately build our brand to be well accepted in the United States of America before venturing out.
Here are the platforms we intend leveraging on to promote and advertise Red Ribbon® Paper Bag Manufacturing Co;
- Place adverts on community based newspapers, radio and TV stations
- Encourage the use of word of mouth publicity from our loyal customers
- Leverage on the internet and social media platforms to promote our business
- Ensure that our we position our banners and billboards in strategic positions all around Trenton – New Jersey
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Contact corporate organizations and stores by calling them up and informing them of Red Ribbon® Paper Bag Manufacturing Co and the products we manufacture
- Advertise our paper bag manufacturing company in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and trucks and ensure that all our staff members and management staff wear our branded shirt or cap at regular intervals
Our Pricing Strategy
Aside from quality, pricing is one of the key factors that gives leverage to cardboard and paper bag manufacturing companies, it is normal for consumers to go to places where they can get paper bags at cheaper prices which is why big players in the cardboard and paper bags manufacturing industry like DS Smith Packaging Ltd, SAICA Pack UK Limited and Smurfit Kappa UK Ltd et al will always attract loads of clients.
We know we don’t have the capacity to compete with these companies, but we will ensure that the prices and quality of all our cardboard and paper bags are competitive with what is obtainable amongst cardboard and paper bags manufacturing companies within our level.
- Payment Options
The payment policy adopted by Red Ribbon® Paper Bag Manufacturing Co is all inclusive because we are 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 Red Ribbon® Paper Bag Manufacturing Co will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via Point of Sale Machine (POS)
- 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 the purchase of our paper bags and cardboard without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
- 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 / leasing a big facility, 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 startup 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 cardboard and paper bag manufacturing business; it might differ in other countries due to the value of their money. These are the key areas where we will spend our startup capital on;
- The total fee for registering the Business in the United States of America – $750
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300
- Marketing promotion expenses for the grand opening of Red Ribbon® Paper Bag Manufacturing Co in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580
- The total cost for hiring Business Consultant – $2,500
- The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400
- The total cost for long – term leasing of a standard warehouse / factory – $250,000
- The total cost for remodeling the warehouse / factory – $20,000
- Other start-up expenses including stationery ($500) and phone and utility deposits – ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
- The total cost for start-up inventory (purchase of tools and equipment and the purchase of raw materials inclusive) – $150,000
- The total cost for counter area equipment – $9,500
- The total cost for store equipment (cash register, security, ventilation, signage) – $13,750
- The total cost for the purchase and installation of CCTVs: $10,000
- The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
- The total cost of launching a Website: $600
- The total cost for our opening party: $7,000
- Miscellaneous: $10,000
We would need an estimate of $750,000 to successfully set up our paper bag manufacturing company in Trenton – New Jersey. .
Generating Startup Capital for Red Ribbon® Paper Bag Manufacturing Co
Red Ribbon® Paper Bag Manufacturing Co is a family business that is solely owned and financed by James Whitney and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.
These are the areas we intend generating our startup capital;
- Generate part of the startup capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
Paper Bag Manufacturing Business Plan – Sustainability and Expansion Strategy
The future of a business lies in the number of loyal customers 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, then it won’t be too long before the business closes shop.
One of our major goals of starting Red Ribbon® Paper Bag Manufacturing Co 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 manufacture durable and quality paper bags and to retail them 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.
Red Ribbon® Paper Bag Manufacturing Co 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 retraining 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 six 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 facility and remodeling the facility: 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 and Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of machines and equipment: Completed
- Purchase of the Needed 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
- Compilation of the list of products we will be manufacturing: Completed
- Establishing business relationship with vendors and supplier of raw materials: In Progress.
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