PLASTIC BOTTLE RECYCLING BUSINESS PLAN SAMPLE AND FEASIBILITY STUDY REPORT FORMAT
Writing a pet bottle business plan might be challenging for you but you don’t have to worry, I got you covered. I have create a pet bottle recycling business plan sample that you can use as a template to create yours.
According to IBIS World, the recycling industry has a net worth of $5 billion and there has been a 5.5% growth from between 2011 to 2016. This shows that a recycling business is viable and lucrative. So, if you plan starting a business but you don’t know which one to start, you can consider pet bottle recycling business.
However, that a recycling business is lucrative is not enough, you need to do the needful if you want to profit from it and one of the needful things that is essential for you to do is writing a business plan.
BUSINESS NAME: Reel Pet Bottle Recycling Company
- Executive Summary
- Vision Statement
- Mission Statement
- Products and Services
- Business Structure
- Sales and Marketing Strategy
- Financial Plan
Reel Pet Bottle Recycling Company will be established at Ohio, United States. The intention to establish the company was born out a desire to contribute our quota to the environment by reducing the degradation caused used pet plastics and make profit doing so.
Our choice of location is very intentional and strategic. We chose that location because the area is highly industrialized and most of these industries made use of pet bottles in packaging their products. The icing on the cake is that there is no pet bottle company that is close to this area, so the proximity of our company to these industries will endear them to us.
We aim to build our business from this area and then penetrate other parts of United States when our company’s brand has become formidable and widely known.
We know that to achieve this goal is not just by mouth but by taking strategic actions. So, because of this, we intend to put in place viable structure for our business to thrive and exceed the targeted goals. Part of the strategic actions we plan to take is to employ qualified and competent staffs and also provide our customers with maximum satisfaction.
We will not only satisfy our customers with quality and durable pet recycled bottle products, we will also make sure we always provide them with excellent services such as making the environment always conducive for business transactions, workers attending to customers politely and promptly, making available an effective customer complain channel that will promptly take care of customers’ dissatisfaction.
We also plan to introduce an online store where customers can make their orders which we will deliver promptly to them. This will save our customers’ time and ease them of the stress of coming to pick up their order by themselves.
All these are geared toward giving our customer utmost satisfaction that will not only make them to always come for more but also make them will refer us to others.
The Reel Pet Bottle Recycling Company will be established by Engr. Mike Smith, an engineer who has over 35 years of experience in the recycling industry, He has worked with various recycling companies in the United State. He intends to use the wealth of experience and knowledge he has gathered over the years to build the Reel Pet Bottle Recycling Company into a one of its kind in the industry.
Our vision is to build a formidable pet bottle recycling business that will be among the foremost players in the industry within the next 10 years.
Our mission is to provide quality products to our client at affordable prices and also provide excellent customer services that are second to none.
Products and Services
When it comes to product production, there are many options that a recycling company can explore. But in order not to become a jack of all trades and master of none, our company has chosen to only focus on pet bottle recycling. And offer services in line with the product we are production. So, our product and services include:
- Recycled pet bottles of various shapes and sizes
- Consulting Services
A viable business structure is important for the growth of any business. So, for the Reel Pet Bottle Recycling Company having viable business structure is not an option but a necessity.
Because of this, we plan to employ qualified and competent workers who will not only hardworking but committed to discharge their assigned duties effectively and efficiently in a way that will help the business to grow.
The business structure we intend to put in place is as follow:
- Chief Executive Officer
- Managing Director
- Production Manager
- Plant Manager
- Human resources Manager
- Marketing Executives
- Machine Operators
- Maintenance Team
- Truck Drivers
- Security Guard
Sales and Marketing Strategy
Profit maximization is one of the major reasons we intend to establish our business and without putting in place an effective sales and making strategy, we will not be able to make good sales and maximize profit. So, we have come up with a result oriented sales and marketing strategy.
One of our strategies is to first identify our target customers. Identifying and understanding our prospective customers and what they really need will help us to create products that meet their needs and also find out the effective means of reaching out and selling to them.
We also plan to use various social media platforms like Facebook, Twitter, LinkedIn and YouTube in marketing our products.
Our pricing strategy will be based on the total cost we incur in producing our products. Whichever pricing strategy we employ, we will also consider the fact that we are new to the business and offer prices that are relatively lower than that of our competitors so as to attract customers. And as time goes on, we will review the prices.
We intend to make as many payment options as possible available to our customers so that can be able to choose the one that is best suitable for them from the wide range of options.
The payment options we intend to make available to our customers are:
- Cash Payment
- Payment through Bank Transfer
- Payment through Point of Sales (POS) Machine
- Payment with Check
- Payment via Bank Draft
- Payment with online payment portal
- Payment with Credit Cards.
After carrying out a feasibility study, we find out that the total amount of money needed to start the pet bottle recycling business is estimated to be $3,500,000. This will cover everything ranging from cost of acquiring the business location, cost of recycling plant and equipment, and cost of marketing both online and offline. It will also cover the salaries of staff for the first three months of operation.
Sources of Capital
Engr. Mark smith has already been able to gather a total sum of $850,000 money from his personal savings, sales of his stock and assets and also taking loan from his family members. He intends to raise the remaining money through bank loan or from any interested investors to start this pet bottle recycling business.