Are you about starting a rice export company? If YES, here is a complete sample rice export business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting a rice export company. We also took it further by analyzing and drafting a sample rice export marketing plan template backed up by actionable guerrilla marketing ideas for rice export companies. So let’s proceed to the business planning section.
Table of Content
- 1 Why Start a Rice Export Company?
- 2 Rice Export Company Business Plan – Executive Summary
- 3 Rice Export Company Business Plan – SWOT Analysis
- 4 Rice Export Company Business Plan – MARKET ANALYSIS
- 5 Rice Export Company Business Plan – SALES AND MARKETING STRATEGY
- 6 Rice Export Company Business Plan – Publicity and Advertising Strategy
- 7 Rice Export Company Business Plan – Sustainability and Expansion Strategy
Why Start a Rice Export Company?
The fact that rice is a staple food that is consumed in all part of the world including places where it is difficult for farmers to grow rice or perhaps processed and packaged rice makes it a thriving and profitable business that an entrepreneur cum investor who is looking towards starting a business can successfully start.
For example, in some underdeveloped countries where they lack the machinery to produced finely finished parboiled rice, they tend to appreciate it when they are imported into their countries. Little wonder parboiled rice from countries like Thailand and China are seen in almost every nooks and crannies of the world.
Although there are loads of market for companies who are into rice exportation, but it is very important to state that rice exportation business is not is not a business that requires little start – up capital. As a matter of fact, you must be willing to pool huge cash base together to be able to successfully launch a rice exporting business or any exportation business.
This is so because you are expected to rent / lease a warehouse facility, purchase bag of rice that can fill a container, pay for haulage / shipping and every other logistics that you are expected to take care of from the country of purchase to the country you are exporting the rice to
So if you have decided to start a rice export company, then you should ensure that you carry out feasibility studies and also market survey. This will enable you properly identify countries that truly need your rice and then hit the ground running. Business plan is yet another very important business document that you should not take for granted in the bid to launching your own business.
Below is a sample rice export company business plan template that can help you to successfully write your own with little or no hassle.
A Sample Rice Export Company Business Plan Template
- Business Overview
Players in the rice export industry primarily export well processed and bagged rice from one country to another. The bags of rice are placed in containers or trucks and then they are shipped or transported via sea or land borders to the expected country.
Most rice farmers who are also into rice processing tend to active in the rice exporting industry. So also investors who are interested in the business usually purchase in wholesale from rice mills – rice production companies and then export to their clients overseas.
The Rice Export industry, just like most businesses in the retailing industry, depends on strong consumer spending to spur the demand for industry products. Over the last half a decade, the economy has begun recovering from recessionary declines with both the Consumer Confidence Index and disposable income increasing.
Going forward, as the economy of the United States and other countries of the world continues to recover and consumers are expected to loosen their discretionary budgets, the industry is anticipated to experience growth.
The Rice Export industry is indeed a major sector of the economy of the United States of America and they generate several billion dollars annually from loads of rice export companies scattered all around the United States of America. The industry is responsible for the direct employment of thousands of people.
It is important to state that there is no rice exporting company in the United States of America that has a lion share of the available market. New entrant into the industry can favorably compete for the available market even if they don’t have rice farms. They can travel all the way to Thailand seal the deals and then export rice to countries in Africa, and South America et al
It is a fact that a major chunk of the United States’ gross domestic product (GDP) comes from the general export industry of which the rice export industry also contributes. This is why the United States of America’s economy is measured with the yardstick of how well the exporting business is fairing in the U.S. In essence, when there is an unstable economy, purchasing power drops and it impacts the export industry negatively which may result in the closure of some rice export companies.
Over and above, the rice export industry is a profitable industry and it is open for any aspiring entrepreneur who has the financial requirement to come in and establish his or her business. You don’t need to have a rice farm or even a rice processing plant / rice mill before you can become a player in this industry; your ability to know where to get well processed and well bagged rice cheap and a ready market outside of the United States to export them to is key in this line of business.
Rice Export Company Business Plan – Executive Summary
Joel Sutton® Rice Export Company is a standard US registered Rice Export Company that will be based in Texas City – Texas. We have been able to lease a warehouse facility that is big enough to fit into the design of the kind of standard rice exporting business that we intend launching and the facility is located close to one of the busiest seaports in the United States – Port of Texas City – Texas.
Joel Sutton® Rice Export Company will be involved in exporting well – processed and well – bagged short-grain rice, medium-grain rice and long-grain rice (both in organic and non – organic form) et al from different brands from the United States to other parts of the world. We will also go into partnership with some the largest rice producers in Thailand and then export rice from there to other countries of the world.
We are aware that there are stiffer competitions when it comes to exporting rice, 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. We have a long-term plan to own our rice farm and rice processing plant / rice mill.
Joel Sutton® Rice Export Company will ensure that all our international customers are given first class treatment whenever they order rice from us. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base may grow to or how far apart they are from us. We will ensure that we get our customers involved in the selection of brands that will be on our export list and also when making some business decisions that directly affect them.
Joel Sutton® Rice Export 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 whenever they patronize our products. 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.
Joel Sutton® Rice Export Company is a family business that is owned by Joel Sutton and his immediate family members. Joel Sutton has a B.Sc. in Business Administration, with well over 5 years of experience in the shipping and export industry, working for some of the leading brand in the United States.
Although the business is launching out without a rice farm or a rice mill / rice processing plant, but we have a long term plan to own our rice farm and rice mill and also go into business partnership with major rice producing companies in Thailand.
- Our Product Offering
Joel Sutton® Rice Export Company is in the rice export industry to service a wide range of clients all across the globe and of course to make profits, which is why we will ensure we go all the way to export a wide range of well packaged rice from top rice production brands in the United States and other countries of the world.
We will ensure that we do all that is permitted by the law of the United States to achieve our aim and ambition of starting the business. Our product offerings are listed below;
- Exporting short-grain rice, medium-grain rice and long-grain rice (both in organic and non – organic form) from different rice production brands
Our Vision Statement
Our vision is to become one of the leading brands in the rice export industry in the United States of America exporting rice to countries in Africa and South America
- Our Mission Statement
Our mission is to establish a world – class rice export business that will export a wide range of well – bagged rice from top rice production brands at affordable prices to rice dealers all across countries in Africa and South Americ
- Our Business Structure
Although Joel Sutton® Rice Export Company; will start out by purchasing rice from rice production companies in the United Sates and Thailand and then export them to other countries of the world, but that does not in any way stop us from owning our rice farm and rice production plant / rice mill. Our intention of starting a rice export business is to build a standard business with clients all across Africa and South America.
We will ensure that we hire people that are qualified, honest, 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 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)
- Warehouse Manager
- Human Resources and Admin Manager
- Merchandize Manager
- Sales and Marketing Manager
- Information Technologist
- Accountants / Cashiers
- Sales Agents / 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.
- 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
- Reports to the board
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.
- Responsible for organizing the safe and efficient receipt, storage and dispatch of warehoused goods
- Responsible for liaising with customers, suppliers and transport companies
- In charge of planning, coordinating and monitoring the receipt, order assembly and dispatch of goods
- Responsible for using space and mechanical handling equipment efficiently and making sure quality, budgetary targets and environmental objectives are met
- In charge of coordinating the use of automated and computerized systems where necessary
- Responsible for keeping stock control systems up to date and making sure inventories are accurate;
- Responsible for producing regular reports and statistics on a daily, weekly and monthly basis
- In charge of overseeing the planned maintenance of vehicles, machinery and equipment.
- Ensures that proper records of bags of rice are kept and warehouse does not run out of products
- Ensure that the warehouse facility is in tip top shape and goods are properly arranged and easy to locate
- Interfaces with third – party suppliers (vendors)
- Control rice distribution and supply inventory
- Supervise the workforce in the warehouse floor.
- Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
- Help to ensure consistent quality of well processed rice from different manufacturers are purchased and exported in good price that will ensure we make good profit
- 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, prioritizes, and reach 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
- Develop, execute and evaluate new plans for expanding increase sales
- Document all customer contact and information
- Represent the company in strategic meetings
- Help increase sales and growth for the company
- Manage the organization website
- Handles ecommerce aspect of the business
- Responsible for installing and maintenance of computer software and hardware for the organization
- Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
- Leverage on software apps to keep track of goods (container of rice) that are shipped from one destination to another
- Manages the organization’s CCTV
- Handles any other technological and IT related duties.
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
- 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 customers (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 (answer customer queries regarding the store and the merchandise)
- Finds out the customer’s needs, recommend, select and help locate the right merchandise, describe a product’s features and benefits.
- make suggestions and encourage purchase of products
- Provides information about merchandise and delivery options
Rice Export Company Business Plan – SWOT Analysis
Our intention of starting the business basically as an exporter is to test run the business for a period of 2 to 5 years to know if we will invest more money, expand the business and then start our commercial rice farm and rice processing plan / rice mill.
We are that it is quite demanding running a rice export business alongside a rice farm and rice processing plant, 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.
Joel Sutton® Rice Export Company employed the services of an expert HR and Business Analyst with bias in shipping and exporting start – ups 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 Joel Sutton® Rice Export Company;
Our distribution network, the business model we will be operating on, varieties of payment options, wide range of well processed and well – bagged rice from different rice production companies from within the United States and other parts of the world and our excellent customer service culture will definitely count as a strong strength for Joel Sutton® Rice Export Company. So also our management team members are people who have what it takes to grow a business from start – up to profitability with a record time.
A major weakness that may count against us is the fact that we are a new rice export company and we don’t have the financial capacity to engage in the kind of marketing and publicity that we intend giving the business.
The fact that we are going to be operating our rice export company in a city that host one of the busiest seaports and rice farms in the United States provides us with unlimited opportunities to purchase rice at cheaper rate and also ship to other countries at affordable rate as well.
We have been able to conduct thorough feasibility studies and market survey and we know what our potential customers will be looking for when they order rice from us; we are well positioned to take on the opportunities that will come our way.
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 rice export company in same location where our market exists. So also, unfavorable government policies from home country and export country may also pose a threat for businesses such as ours.
Rice Export Company Business Plan – MARKET ANALYSIS
- Market Trends
There are loads of factors that come into play in the rice export cum export industry. Government policies, trade agreement and mutual benefit are some of the key factors that encourage export and import. This is why any company in the United States that is into exporting of goods must ensure that they check the trade relationship the US has with the country they intend exporting rice to and also the country’s status on rice importation et al.
Maximizing profit in the rice export industry requires that you own your rice farm and rice processing plant / rice mill. If you are conversant with the happening in the rice export industry, you will notice a trend amongst top rice exporting companies; they are known to own their own vast rice farms and rice processing plant / rice mill.
Our Target Market
Possibly it will be safe to submit that the rice has the widest range of customers; almost everybody on planet earth consumes rice; rice is indeed one of the most popular staple foods in the world.
In view of that, we have positioned our rice export business to service rice dealers all across countries in Africa and South America. We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.
We are in business to export well processed and bagged rice from different rice production brands to rice distributors and wholesalers in countries across Africa and South America.
- Our Competitive Advantage
A close study of the rice export 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, customer centric and proactive if you must survive in this industry.
We are aware of the stiffer competition and we are well prepared to compete favorably with other leading rice export companies throughout the United States and other part of the world. Joel Sutton® Rice Export Company is launching a standard rice export company that will indeed become the preferred choice for rice distributors and rice dealers all across countries in Africa and South America.
Our distribution network, the business model we will be operating on, varieties of payment options, wide range of well processed and well – bagged rice from different rice production companies from within the United States and other parts of the world and our excellent customer service culture will definitely serve as a competitive advantage for Joel Sutton® Rice Export Company.
So also our management team members are people who have what it takes to grow a business from start – up to profitability with a record time.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups rice export 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.
Rice Export Company Business Plan – SALES AND MARKETING STRATEGY
- Sources of Income
Joel Sutton® Rice Export Company is in business to export a wide range of well – processed and well – bagged rice from different rice production brands to rice distributors and wholesalers all across countries in Africa and South America.
We are in the rice export industry to maximize profits and we are going to go all the way out to ensure that we achieve or business goals and objectives. Joel Sutton® Rice Export Company will generate income by exporting the following products;
- Exporting short-grain rice, medium-grain rice and long-grain rice (both in organic and non – organic form) from different rice production brands.
One thing is certain when it comes to rice export business, if you able to explore the markets within your target market areas; you are sure going to make huge profits.
We are well positioned to take on the available market in countries all across Africa and South America 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 rice export industry 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 Texas City – Texas.
Below are the sales projection for Joel Sutton® Rice Export Company it is based on the location of our business and other factors as it relates to rice export start – ups in the United States;
- First Fiscal Year-: $350,000
- Second Fiscal Year-: $650,000
- Third Fiscal Year-: $1.2 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 retailing same shoe brands 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 for Joel Sutton® Rice Export Company, we conduct a thorough market survey and feasibility studies in order for us to position the business in a location that will enable us have access to rice production companies and easy access to seaports. 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.
We hired experts who have good understanding of the rice export 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 countries all across Africa and South Africa.
In other to continue to be in business and grow, we must continue to export well processed and well packaged rice which is why we will go all out to empower or sales and marketing team to deliver. In summary, Joel Sutton® Rice Export Company will adopt the following sales and marketing approach to win customers over;
- Introduce our rice export company by sending introductory letters alongside our brochure to rice distributors and rice wholesalers in countries all across Africa and South America
- Ensure that we have a wide range of rice from different brands at all times.
- Create a loyalty plan that will enable us reward our regular customers
- List our business and products on yellow pages’ ads (local directories)
- Leverage on the internet to promote our business
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing (referrals)
Rice Export Company Business Plan – Publicity and Advertising Strategy
Despite the fact that our rice export 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 rice store.
Joel Sutton® Rice Export Company has a long term plan of exploring markets beyond countries in Africa and South which is why we will deliberately build our brand to be well accepted in these continents 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.
Here are the platforms we intend leveraging on to promote and advertise Joel Sutton® Rice Export Company;
- Place adverts on international 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 Texas City – Texas
- Contact corporate rice distributors and rice wholesalers in countries all across Africa and South America by e – mailing and calling them up and informing them of Joel Sutton® Rice Export Company and the products we export
- Advertise our rice export business 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 wears 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 rice export companies, it is normal for rice distributors and rice wholesalers to deal with rice export companies they can get well – processed and well – bagged rice at cheaper price.
We know we don’t have the capacity to compete with other bigger and well – established rice export companies, but we will ensure that the prices of all the brands of rice that are available in our exporting list are competitive with what is obtainable amongst rice export companies within our level and in our location.
- Payment Options
The payment policy adopted by Joel Sutton® Rice Export Company is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Joel Sutton® Rice Export Company will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards / Point of Sale Machines (POS Machines)
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our rice.
- Start – Up 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 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 rice export business; it might differ in other countries due to the value of their money.
These are the key areas where we will spend our start – up capital;
- The Total Fee for Registering the Business in the Unites 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 Joel Sutton® Rice Export Company 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 cost for hiring Business Consultant – $2,500.
- The cost for insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- The cost for the payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600.
- The cost for warehouse remodeling (construction of racks and shelves) – $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) – $60,000
- The cost for start-up inventory (stocking the warehouse with a wide range of well – processed and well – bagged rice from different rice production brands) – $250,000
- The cost for counter area equipment – $9,500
- The cost for the purchase of forklift and trucks – $25,000
- The cost for store equipment (cash register, security, ventilation, signage) – $13,750
- The cost of 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 cost of launching a Website: $600
- The cost for our opening party: $7,000
- Miscellaneous: $10,000
We would need an estimate of $750,000 to successfully set up our rice export company in Charleston – West Virginia. Please note that this amount includes the salaries of all the staff for the first month of operation.
Generating Funds / Startup Capital for Joel Sutton® Rice Export Company
Joel Sutton® Rice Export Company is a private business that is solely owned and financed by Ted Preston 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.
Since they are the sole financier of the business, they have decided to adopt the following means to generate start – up capital for the business;
- Generate part of the start – up 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 document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
Rice Export Company Business Plan – 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 Joel Sutton® Rice Export 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 export our wide range of well – processed and well – packaged rice from different rice production brands 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.
Joel Sutton® Rice Export 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 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.
Check List / Milestone
- 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 warehouse facility and remodeling the warehouse: 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 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 our list of rice brand that will be available in our store: Completed
- Establishing business relationship with rice production companies in the United States of America and Thailand: In Progress
Latest posts by Ajaero Tony Martins (see all)
- How to Write a Music Venue Business Plan [Sample Template] - February 2, 2020
- A Sample Indoor Shrimp Farming Business Plan Template - February 2, 2020
- How Long You Have to Buy Insurance After Buying a Used Car - January 29, 2020