Do you want to start a groundnut processing company from scratch? Or you need a sample groundnut processing business plan template? If YES, then i advice you read on.
Nuts can be a very tasty snack to munch on and even more so is the fact that we are talking about peanuts. Peanuts are also known as groundnuts. There are so many healthy values which the groundnut gives to the body; this is why some folks swear by the groundnuts. . Groundnuts are highly nutritious and it is no wonder doctors usually recommend it for pregnant women.
Groundnuts are nuts that grow all year round. It isn’t a seasonal crop and as such can be found all the time. Did you know that there are business advantages with the groundnuts? Well, truth is that you can make good money from processing groundnut oil. Establishing a groundnut oil processing company requires some technical details which need a lot of care to put in place.
So, what are the steps to take to jump start a groundnut oil processing company and form it into a worthwhile and lucrative business? Here are some guidelines …
Starting a Groundnut Oil Processing Company – Sample Business Plan Template
Table of Content
1. Study Hard
All businesses before they are embarked on require that one carries out a thorough research. It is for this reason that you have to work at garnering quite a lot of information. Running a successful business means that you need to know how things are coordinated. You need to know the various companies that are already in the business, how they have been able to thrive.
So, is starting a groundnut oil processing company , you should find out the various uses of groundnut oil,what values are derivable, when it can groundnuts be planted and harvested, how can it be processed, and so on. Your research will also include finding out the number groundnut oil processing companies that exists and so on.
2. Go Learn the Skill
You cannot just wake up one morning to decide to run this business without having knowledge of what it all entails and how it is done. As a result you have got to make out ample time to go and learn the skills and processes required. If there is a groundnut oil processing company that you know or that exists in your country, you may consider going to work there either as a volunteer or as a worker to be paid. One of the advantages of this is that you would get firsthand experience on how things are run there and how you can apply it to your own business.
3. Pick a Name and Register Your Company
Any business that wants to be taken seriously must be registered. It is for this reason that you have got to choose an appropriate name for it and then go ahead to register it. As with other businesses, the chamber of commerce office or the corporate affairs office would be the appropriate place to go for this exercise.
If there is an association for groundnut oil processing companies, you may consider being a part by also registering.This is especially important so that you can be up to speed with all the trends in the groundnut oil processing industry.
Business plans are one of the pertinent steps that any entrepreneur ought to take. Therefore, you have got to put all measures in place to do this. If you have no inkling how things like a business plan works, then you may consider hiring a professional business writer, who would be able to tell you all the information that is needed in the template. Also required in your groundnut oil production business plan would be the short term and long term goals of your company.
You need a place that isn’t close to a residential area. This is imperative so as not to disturb the peace of those that may live around the factory. On the other hand if you decide to locate your business in an industrial area for instance, you can be sure that you wouldn’t be causing any chemical or noise pollution.
Do ensure that you tell your relator for what reason you would need the space and location you want so that he or she could bear in mind that there has to be enough room for all the machines and equipment to be used.
6. Get an Operating Permit
It is good a thing that you have gotten your certificate of registration as a business by now. The next thing that is required of you to do would be to obtain a permit. This would be from the food and drugs regulatory body in your country. Why is this important, you may ask? This is important because these bodies in various countries want to be sure that you have got all that is needed to start a groundnut oil processing company.
7. Get Funding
It is very important that you have enough money to run this kind of business. This is because groundnut oil processing business is a very lucrative business with load of returns on investment. It is for that reason that you may consider getting a loan from a micro finance bank, or a bank. There are also angel investors who may buy into your mission and vision via your business plan; and if you have family and friends that can support you? Then that may also be a great source of funding.
8. Hire Workers
Now that things have started to take shape, the next thing for you to do would be to hire employees. Do note that you need very experienced people to help pull things off. On the other hand, if you try to save cost, then you may look at getting some inexperienced workers in addition to some experienced ones so as to save cost.
9. Test the Market
Now that all is set, your next port of call would be to test the product in the market. How can you possibly achieve that? You will have to produce the products and test the market to see if they accept. You will also need feedback to know areas where you need to make changes to improve on the overall quality.
10. Build a Website
The importance of owning a website to help push businesses cannot be over emphasized. This is vital because when you tell and sundry about what you do, via pictures and explanations with the prices attached, then you can be sure of success.So, you will need a professional website designer to help you pull things off.
You must place a high regard on advertisement. Most business have blown because their several means of advertisement have really worked.Print brochures and fliers, embark on road shows in the open markets, malls and what have you. Also television and radio adverts wouldn’t be too much a marketing strategy if you are looking at your brand gaining grounds soon.
Those are some basic tip that is needed to start your groundnut oil processing company. In addition, make out time every now and then to train your employees so that a standard quality can be maintained in business.