Do you want to start an insecticide production company from scratch? Or you need a sample insecticide production business plan template? If YES, then i advice you read on.
Just like normal home provisions (milk, sugar, butter, cheese, beverage, soaps and detergent et al), insecticides can be found in many homes all around the world because of what it is used for; people use insecticide to kill unwanted and disease causing insects in and around the homes, schools, offices and even public facilities et al. In essence, the market for insecticide is indeed very large.
If you are thinking of a business to start as an entrepreneur, a profitable business that can survive in any geographical area, then you should consider starting your own insecticide production company. Insecticides are not only used at homes to kill insects, but are also used in agriculture, industry and medicines. As a matter of fact, the use of insecticides contributes to increase in agriculture produce.
Starting a standard insecticide production company is considered not to be a capital intensive project, but it is a lucrative business especially if you are able to penetrate the market. There are several brands of insecticides in the market, but your creativity and uniqueness will likely you stand you out in the market place.
Now let us consider some vital tips that will help you start your own insecticide production company from the scratch and then builds it to a profitable business within the shortest time frame possible;
Starting an Insecticide Production Company – Sample Business Plan Template
Before setting up any business, one of the steps that you would have to take is to carry out a feasibility study. As a matter of fact, an assessment of the practicality of the proposed business you intend starting is vital to the overall success of the business.
Your feasibility study will give you a firsthand information on what is required to setup your own insecticide production company, the likely competitions you will contend with, how to source for raw materials and safety and healthy measure needed for such industry et al.
Your business plan is an essential business document that will help you setup the business and also effectively run the business. Your business plan is your business blue – print; a roadmap that clearly outline your goals, objectives and strategies, et al.
If you want to build a business that will last long and outlive you, then you need to write a comprehensive business plan, you can as well pay experts to help you draft a workable business plan. The truth is that if you have a good business plan, it will make it easier for you to attract investors and also to obtain loans from your bank.
3. Register Your Business and Obtain the Required License
Agro allied / chemical manufacturing industry is highly regulated to prevent manufacturers from loading the market with fake or substandard goods. So, the first requirement you must fulfilled if you want to float your own insecticide production company is to register the business official with the government of your country.
Once you have registered the business, you can then proceed to apply for the required license needed before you can be allowed to go into production. You can talk to your attorney to help you register your insecticide production company and also obtain the required operating license.
4. Lease a Facility and Purchase the Necessary Equipments
Before paying for any facility, it is important to cross check with the relevant authority in your state of country to be sure that the location you intend setting up your insecticide production company can be allowed for such business. The truth is that there is the possibility of water pollution or even air pollution in the areas where insecticide are produced and this can be dangerous to both human and animal.
You would need both skilled (lab scientist et al) and unskilled (factory workers) in your insecticide production company. So, when drawing your budget for setting up this type of business, it is advisable to include at least 6 month salaries of the numbers of staff you intend employing. This is so because you are likely not going to start making profits until after 6 months of running the business and you are not expected to owe your employees. For the business to progress, you must pay them as at when due. That is the sacrifice of starting a business.
No doubt you are likely going to find several brands of insecticide in the market in your community or state. Consequently, if you are new in the market, then you must work hard and smart to create your own market. Part of what you need to do to get your own fair share of the existing market is to pay attention to your packaging and branding.
The truth is that beyond the content, people are always compelled to buy stuffs that are attractive and well branded. Ensure that you pay experts to help you package and brand your product. If you insecticide is well branded and packaged, people can easily identify it and perhaps order for it when they shopping.
Companies have been producing insecticides for ages and if you intend making good returns on your investment, then you must create your own market. Part of the info you are expected to get from your feasibility studies is to discover new markets for your product. Truly it will be difficult to compete with a well known brand, so in order to survive; you must create your own market.
You can start with neighborhood supermarkets and you could hire sales rep to help you take your products to the streets via road shows et al. The most important thing is to first secure a market, no matter how small it is as long as you supply your product steadily, you can build it up from there.
There you have it; the steps you need to follow to be able to start your own insecticide production company.