Are you interested in starting a coconut juice production company? Do you need a sample coconut juice production business plan template? If YES, then I advice you read on.
Coconut juice (also known as coconut water) is the clear liquid inside young green coconuts. It has long been a popular drink in South East Asia, Pacific Islands, India, Brazilian coast, and the Caribbean, where it is consumed fresh or in canned and bottled forms.
In recent years, there has been increasing awareness of the health benefits of coconut juice, leading to a sharp increase in the demand for the product. The drink has been marketed as a natural energy drink due to its high potassium and mineral content. It is also known for having low levels of fat, carbohydrates, and calories.
Another interesting fact about coconut juice is that it is identical in composition to human plasma (the liquid component of the blood) and so can be used for dehydrated patients.
Having understood why coconut juice is now in high demand in many parts of the world, let’s now look at the steps involved in starting a coconut juice production business. If you live in a place where this drink is in huge demand or you think it’s a good idea to produce and export it to those places, here are the guidelines to follow:
Starting a Coconut Juice Production Company – Sample Business Plan Template
1. Learn more about the business
When starting a business, the shortest route to failure is to skip the research aspect. You need to find out all the relevant information about the business before taking a plunge.
If there are coconut juice production companies in your locality, I recommend that you visit one of them and meet with the owner or manager. Tell them about your plans to start your own coconut juice production company. They will most likely be willing to help by giving all the important information you will need to get started successfully.
If there are no production companies around you, and you are planning to produce and export coconut juice to countries where it is in high demand, then you can resort to search the web for relevant information on how to get started.
2. Craft your business plan
Using the information gathered during your research, you should write your business plan. This plan will include important details about your business such as the name of your business, your goals and objectives, required startup and running costs, market analysis and competition, marketing strategy, unique selling points, and so on.
You will need your business plan to guide you through each phase of the startup process as well as after launching your business. In addition, your business guide will come in handy should you need to procure startup funding from third parties such as investors and lenders.
3. Register your business and fulfill legal requirements
It is important that you visit the appropriate local agency in charge of business name registration. Find out the requirements and steps involved in registering your business, and follow all directives you are given.
In addition, you should obtain the necessary licenses and permits that apply to new businesses. The requirements for these vary from country to country, so you need to visit the designated agency to find out what obtains in your state or country.
Other paperwork that you must complete includes tax requirements and insurance. If you don’t know how to go about this step, you can involve a seasoned attorney or business consultant. Spending a bit more to get professional advice will keep you from running into problems in the future.
After the government has given the nod to your coconut juice production business, you need to find a good location. A place where there utilities such as electricity and water are abundant is best. Another factor to consider when choosing your location is the distance from coconut farms. The closer your company is to a coconut farm, the better.
5. Buy and install equipment
Having secured a good location for your coconut juice production business, you should acquire the necessary equipment. Your major equipment is the coconut juice producer, a machine that extracts the juice out of coconut palms. This machine can be either bought locally or imported from China, where you can get high quality ones at good prices.
When buying your equipment, you must ensure that they are of high quality. This will save you a lot of maintenance and repair costs in the long run. If you cannot afford a brand new machine, you can buy a used one from a business that is going out of market. However, be sure to have the machine tested and confirmed to be in good working condition before buying it.
6. Find suppliers
Since your business model is manufacturing, you will need to have reliable suppliers of the raw materials you will need—coconuts. So, you must find coconut farmers around you and sign supply contracts with them. Have as many suppliers as possible to ensure consistent production.
After taking the steps above, you can proceed to hire laborers and start operations.