WELDING AND FABRICATION BUSINESS PLAN SAMPLE TEMPLATE
To start your business, you need a plan. What this article will show you is a sample you can easily follow or use as a template to write your own plan.
Do you have welding and fabrication skills? Do you want to build an economic/business venture using such skills? If your answers to these questions are affirmative, then this welding and fabrication business plan may be what you need.
There are several advantages to having a great plan. One of such is that it enhances your chances of succeeding in your chosen area of business. In this case, it will be welding and fabrication. Another of its uses is that it is mostly demanded when applying for loans or when seeking for investors.
Here is a sample business plan for starting a iron and metal fabrication company.
- Executive Summary
Metal Fabricators™ is a welding and fabrication business with expertise in the production of a variety of building equipment and accessories. These include doors, windows, metal cabinets, railings and metal garden tools among others. This is a business that relies heavily on innovation. We’ve got loads of it and seek to even exceed the expectations of our clients.
- Products and Services
At Metal Fabricators™, our products consist of a wide variety of metal works. We specialize in the making of building equipment and accessories. Such products include metal doors and windows, railings, metal cabinets, and flower stands. These are carefully fabricated with the goal of achieving durability in addition to providing aesthetic value.
Our fabrication and welding workshop is located at Jefferson City, Missouri. In recent years, there has been an increasing demand for the services of welding businesses. Our foray into this line of business was in response to the growing need for our services. We will bring our skill and depth in the welding and fabrication industry to bear in the type of products we churn out.
- Vision Statement
We are set to establish a well-equipped and run welding business. This will compete favorably with bigger welding businesses. While producing quality products and services, we seek to break into the top tier of welding and fabrication businesses in the state of Missouri.
- Mission Statement
We have a singular mission of building a reputable and well respected welding and fabrication brand. This will be achieved through attention to detail on every job we handle. Our purpose is not only to provide satisfactory services but to even exceed the expectations of our clients.
Financing for our welding and fabrication business will come from investments. These will come in the form of shares sold to investors. We seek to raise the sum of $90,000.00. We are prepared to sell 30% of our shares to raise this amount. However, this will be redeemable after a single tenure of 8 years. This is enough time for the investor(s) to recoup their investments and make considerable profits.
- SWOT Analysis
Understanding our chances in this industry is as important to us as making profits. Therefore we have hired the services of business experts to conduct a SWOT analysis on our business. The results show the following;
As a new welding and fabrication business, our strength comes from our skilled workforce. These have been carefully selected and include people with significant experience. Our 10-man team of fabricators has worked with major companies where they have gained considerable experience. Their experience and expertise will count in helping us achieve our goals.
Our weakness comes from the fact that most welding and fabrication businesses have their clients who are mostly contractors in the housing industry. These clients prefer to do business with welding companies they have done business with previously. This makes it an uphill task to penetrate the market. However we are not letting down in using our wide contacts to win patronage.
Although it may be initially challenging to land a client, we have the confidence that a single job will draw attention to us. This is an opportunity we hope to exploit right from our first client. They say a good job advertises itself. We are prepared to make this happen through the provision of exceptional welding and fabrication services.
The collapse of the housing market in 2008 crumbled a lot of businesses that provided services. This includes welding and fabrication businesses. This threat is still as potent as ever. Experiencing another bust will take its toll on our business negatively.
- Sales Projection
Initially, getting patronage may be slow, but this is expected to pick up fast after satisfying a few clients. We asked for a sales projection to be done by an expert. This took into account key growth index in arriving at the following projected sales figures;
- First Financial Year $300,000.00
- Second Financial Year $580,000.00
- Third Financial Year $850,000.00
- Competitive Advantage
As a welding and fabrication business having a well motivated workforce, we are expected to become the preferred destination for clients. The qualities of our products speak volumes. Our finishing will be second to none and will be the high point of our business appeal.
- Marketing Strategies
Only marketing strategies that are result oriented will be applied. By coordinating all our activities, our marketing department will be very much involved in its design and implementation. Our major targets are housing contractors. These would be persuaded to give us a try. To win their approval, we will offer some free services to them. The aim is to make them experience our quality and attention to detail.
- Payment Options
We will make use of multiple payment options. The aim is to allow our clients use to the most convenient payment platform they choose. We will be accepting several of these options from cash, checks, credit cards, electronic banking, USSD banking among others.
We believe you will find this welding and fabrication business plan sample very useful. It is simply written to enable any reader understand at a glance what and how a plan should be. Before embarking on this journey, you should find out how feasible this business idea is.
Having some welding and fabrication skills is not enough. You need to understand how the business side of things work.