Nail Manufacturing Business Plan [Sample Template]

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Are you about starting a nail manufacturing company? If YES, here is a complete sample nail manufacturing business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a construction nail manufacturing business. We also took it further by analyzing and drafting a sample nail manufacturing marketing plan template backed up by actionable guerrilla marketing ideas for nail manufacturing companies. So let’s proceed to the business planning section.

Business ideas are all around us but one of the challenges that aspiring entrepreneurs are confronted with is how to know a business that can become profitable and successful.

The rule of thumb in choosing a business to launch is to look out for a business whose products or services are needed in our everyday life; a business whose products can be purchased by the rich as well as the poor and a business that is less competitive in your location.

Starting a construction nail manufacturing company can come in handy if you have the business exposure and financial requirements.

If you are sure that this type of business is what you truly want to do after you must have conducted your market research and feasibility studies, then the next step to follow is to write a good business plan. Below is a sample construction nail manufacturing company business plan template that will help you successfully launch your own business;

A Sample Construction Nail Manufacturing Business Plan Template

1. Industry Overview

Establishments in the nail, screw, nut and bolt manufacturing industry manufactures metal fastening products that can be divided into two groups.

Precision fastening products are custom made for a particular project or customer. Alternatively, nails, metal bolt, nut, screw, rivet, washer and industrial fastening products are fabricated to an industry standard and are designed for the wider market. Please not that companies that manufacture plastic fastening products are not included in this industry.

If you are conversant with happenings in the Nail, Screw, Nut and Bolt manufacturing industry you will agree that the industry has benefited from improved industrial production and construction activity over the last half a decade. Revenue from generic fastening products has been falling due to product standardization, with increasing competition from low-cost, low-priced imports produced in China and elsewhere.

On the other hand, the precision fastening products segment has been growing steadily, and its sales are becoming more significant to the overall performance of the industry.

Precision-turned products are high in demand in the automotive industry, as well as for aerospace, medical manufacturing and other applications. In the coming years, the industry is expected to benefit from persistent demand for fasteners by downstream markets and from rising world steel prices.

The Nails, Screw, Nut and Bolt Manufacturing industry is indeed a large industry and pretty much active in most countries of the world most especially in the united states of America, Taiwan, Japan, China, Germany and India et al.

Statistics has it that in the United States of America alone, there are about 4,300 registered and licensed (big, medium scale and small) nails, screw, nut and bolt manufacturing companies scattered all across the United States responsible for employing about 133,190 people and the industry rakes in a whopping sum of $29 billion annually.

The industry is projected to enjoy 0.9 percent annual growth within 2011 and 2016. It is important to state that no establishment can boast of having the lion share of the available market in this industry.

Research carried out by IBISWorld clearly stated that the location of manufacturing establishments in this industry is generally influenced by their proximity to upstream industries and to major markets. The report further stated that manufacturing establishments also tend to be highly correlated with population density.

IBISWorld estimates that in 2016 the Nail, Screw, Nut and Bolt Manufacturing industry will be most highly concentrated in the Great Lakes, West and Mid-Atlantic regions of the United States, due to their proximity to input providers and to population centers.

These regions combined will account for 61.4 percent of industry establishments and account for about 71.2 percent of total revenue. The Great Lakes region will account for 32.2 percent of industry establishments in 2016, although this share is on the decline

Over and above, the nail, screw, nut and bolt manufacturing industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business; you can choose to start on a small scale or you can choose to start on a large scale servicing a wide range of clientele not only in the United States’ market space, but exporting to other countries of the world.

2. Executive Summary

Ian Bosman® Nail & Fastener, Inc. is a standard and registered construction nails and fastener manufacturing that will be located in Boise – Idaho; in an ideal location, highly suitable for the kind of manufacturing business we want to establish.

We have been able to lease a facility that is big enough (a 20 thousand square foot facility) to fit into the design of the kind of standard nail and fastener manufacturing company that we intend launching.

Ian Bosman® Nail & Fastener, Inc. will be involved in manufacturing construction nails, precision turned products, generic nuts, bolts, screws, rivets and washers et al. We are set to services a wide range of clientele in and around Boise – Idaho.

We are aware that there are several large and small nails and fastener manufacturing companies all around the United States of America, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

Ian Bosman® Nail & Fastener, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our customers.

Ian Bosman® Nail & Fastener, Inc. will ensure that all our customers (wholesale construction nails, screws, nut and bolt distributors) are given first class treatment whenever they visit our factory.

We have a CRM software that will enable us manage a one on one relationship with our customers (wholesale distributors) no matter how large the numbers of our customer base may grow to. We will ensure that we get our customers involved when making some business decisions that will directly or indirectly affect them.

Ian Bosman® Nail & Fastener, Inc. is a family business that is owned by Ian Bosman and his immediate family members.

Ian Bosman has a Diploma in Metallurgical Engineering and a B.Sc. in Business Administration, with well over 15 years of experience in the nails and fastener manufacturing industry, working for some of the leading brand in the United States.

3. Our Products and Services

Ian Bosman® Nail & Fastener, Inc. is in the nail, screw, nut and bolt manufacturing industry to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to give our clients and potential clients options.

We will do all that is permitted by the law of the United States to achieve our business goal, aim and ambition of starting the business. Our product offerings are listed below;

Manufacturing construction nails
Manufacturing precision turned products
Manufacturing generic nuts, bolts, screws, rivets and washers

4. Our Mission and Vision Statement

Our vision is to become the leading brand in the construction nail and fastener manufacturing industry in the whole of Boise – Idaho.
Our mission is to establish a world – class construction and fastener manufacturing business whose products will not only be retailed in the United States of America, but also be exported to other countries of the world.

Our Business Structure

Ian Bosman® Nail & Fastener, Inc. do not intend to start a construction nail and fastener manufacturing business like the usual business; our intention of starting a construction nail and fastener manufacturing company is to build a standard business whose products will be exported to other countries of the world.

We will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

Chief Executive Officer (Owner)
Factory Manager
Human Resources and Admin Manager
Sales and Marketing Manager
Nails and Fastener Machine Operator
Accountants / Cashiers
Customer Services Executive / Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
Responsible for fixing prices and signing business deals
Responsible for providing direction for the business
Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Responsible for signing checks and documents on behalf of the company
Evaluates the success of the organization
Reports to the board

Admin and HR Manager

Responsible for overseeing the smooth running of HR and administrative tasks for the organization
Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
Defines job positions for recruitment and managing interviewing process
Carries out staff induction for new team members
Responsible for training, evaluation and assessment of employees
Responsible for arranging travel, meetings and appointments
Oversees the smooth running of the daily office activities.

Factory Manager:

Responsible for overseeing the smooth running of the factory
Part of the team that determines the quantity of construction nails and fasteners that are to be produced
Maps out strategy that will lead to efficiency amongst workers in the factory
Responsible for training, evaluation and assessment of factory workers
Ensures that the steady flow of both raw materials to the factory and easy flow of finished products through wholesale distributors to the market
Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
Ensures that the factory meets the expected safety and health standard at all times.
Interfaces with third – party suppliers (vendors) of raw materials
Control nail and fastener distribution and supply inventory
Supervises the workforce in the factory.

Sales and Marketing Manager

Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
Models demographic information and analyzes the volumes of transactional data generated by customer purchases
Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
Develops, executes and evaluates new plans for expanding increase sales
Documents all customer contact and information
Represents the company in strategic meetings
Help to increase sales and growth for the company

Construction Nails and Fastener Machine Operators

Responsible for operating machines used in the manufacturing construction nails
Responsible for operating machines used in the manufacturing precision turned products
Responsible for operating machines used in the manufacturing generic nuts, bolts, screws, rivets and washers.

Accountant / Cashier:

Responsible for preparing financial reports, budgets, and financial statements for the organization
Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
Responsible for financial forecasting and risks analysis.
Performs cash management, general ledger accounting, and financial reporting
Responsible for developing and managing financial systems and policies
Responsible for administering payrolls
Ensuring compliance with taxation legislation
Handles all financial transactions for the organization
Serves as internal auditor for the organization

Client Service Executive / Front Desk Officer

Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
Manages administrative duties assigned by the manager in an effective and timely manner
Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
Receives parcels / documents for the company
Distributes mails in the organization
Handles any other duties as assigned by the line manager

6. SWOT Analysis

Ian Bosman® Nail & Fastener, Inc. is in business to become one of the leading construction nails and fastener manufacturing companies in the whole of Boise – Idaho and we are fully aware that it will take the right business concept, management and organization – structure to achieve our goal.

We are quite aware that there are several construction nail and fastener manufacturing companies all over the United States of America and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be welled equipped to confront our threats.

Ian Bosman® Nail & Fastener, Inc. employed the services of an expert HR and Business Analyst with bias in manufacturing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives.

This is the summary of the SWOT analysis that was conducted for Ian Bosman® Nail & Fastener, Inc.;

Strength:

Our core strength lies in the high quality of our construction nails and fasteners, the power of our team and the state of the art and well – equipped construction nails and fastener manufacturing factory that we own. We have a team of highly trained and experienced staff members that can go all the way to produce top strong and durable construction nails and fasteners.

We are well positioned in the heart of Boise – Idaho and we know we will attract loads of clients from the first day we open our construction nails and fastener manufacturing company for business.

Weakness:

A major weakness that may count against us is the fact that we are a new construction nails and fastener manufacturing company and we don’t have the financial capacity to compete with multi – million dollars construction nail and fastener manufacturing companies in the United States and most especially from China when it comes to manufacturing construction nails and fasteners at a rock bottom prices.

So also, we may not have enough cash reserve to promote our construction nails and fastener manufacturing company the way we would want to do.

Opportunities:

The fact that we are going to be operating our construction nails and fastener manufacturing company in one of Boise – Idaho provides us with unlimited opportunities to sell our construction nails and fasteners to a large number of individuals and corporate organizations.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our construction nails and fasteners manufacturing factory; we are well positioned to take on the opportunities that will come our way.

Threat:

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing / spending power.

Another threat that may likely confront us is the arrival of a new construction nail and fastener manufacturing company in same location where ours is located. So also, unfavorable government policies may also pose a threat for businesses such as ours.

7. MARKET ANALYSIS

Market Trends

If you are conversant with the trends in the Nail, Screw, Nut and Bolt manufacturing industry you will agree that the industry has benefited from improved industrial production and construction activity over the last half a decade. Revenue from generic fastening products has been falling due to product standardization, with increasing competition from low-cost, low-priced imports produced in China and elsewhere.

On the other hand, the precision fastening products segment has been growing steadily, and its sales are becoming more significant to the overall performance of the industry.

A close watch on the industry activities reveals that, the nail, screw, nut and bolt manufacturing industry was hit hard by the recent economic downturn and experienced a decline in revenue in recent time.

Lastly, in recent time, the nail, screw, nut and bolt manufacturing landscape has seen tremendous changes in the last 20 years; it has grown from the smaller enterprise to a more organized and far reaching massive construction nails and fastener manufacturing factories.

This trend has benefited them in such a way that they can comfortably sell their construction nails and fasteners nationally and also export them to other countries of the world.

8. Our Target Market

Perhaps it will be safe to submit that the construction nails and fastener manufacturing industry has the widest range of customers; construction nails and fasteners are used in every facility and machines.

In view of that, we have positioned our construction nails and fastener manufacturing company to service construction companies and other manufacturing companies all around Boise – Idaho and every other location where we intend distributing our products.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to manufacture a wide range of construction nails and fasteners for the following clients;

Construction companies
Building materials dealers
Machines and electronics manufacturing companies
Carpenters and furniture manufacturing companies
Roofing construction manufacturing companies

Our competitive advantage

A close study of the construction nails and fastener manufacturing industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiffer competition and we are well prepared to compete favorably with other leading construction nails and fastener manufacturing companies in Boise – Idaho and throughout the United States and Canada.

Ian Bosman® Nail & Fastener, Inc. is launching a standard construction nails and fastener manufacturing company that will indeed become the preferred choice of residence of Boise – Idaho.

Our construction nail and fastener manufacturing company is located in an ideal property highly suitable for the kind of manufacturing company that we want to run. We have enough parking space that can accommodate well over 30 cars / trucks per time.

One thing is certain, we will ensure that we manufacture a wide range of construction nails, screws, nuts and bolts to meet international standards. One of our business goals is to make Bill Ian Bosman® Nail & Fastener, Inc. a one stop construction nails and fastener manufacturing company for both cottage companies and large corporations.

Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups construction nails and fastener manufacturing companies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

Sources of Income

Ian Bosman® Nail & Fastener, Inc. is in business to manufacture and retail a wide range of construction nail and fastener to clients in the United States of America and other countries of the world. We are in the construction nail and fastener manufacturing industry to

Construction nails of various sizes
Precision turned products of various sizes
Generic nuts, bolts, screws, rivets and washers of different sizes

10. Sales Forecast

One thing is certain when it comes to construction nails and fasteners manufacturing business, if your factory is well located and you have good business network, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Boise – Idaho and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond Boise – Idaho to other states in the United States of America and other countries of the world.

We have been able to critically examine the nails, screw, nut and bolt manufacturing industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in the United States of America.

Below are the sales projection for Ian Bosman® Nail & Fastener, Inc., it is based on the location of our business and other factors as it relates to construction nails and fasteners manufacturing startups in the United States;

First Fiscal Year-: $350,000
Second Fiscal Year-: $750,000
Third Fiscal Year-: $1 million

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor manufacturing or retailing same furniture products and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

Marketing Strategy and Sales Strategy

Before choosing a location for Ian Bosman® Nail & Fastener, Inc., we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for stakeholders in and around Boise – Idaho.

We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time. We hired experts who have good understanding of the nails, screw, nut and bolt manufacturing industry to help us develop

In other to continue to be in business and grow, we must continue to manufacture and sell the construction nails, screws, nuts and bolts which is why we will go all out to empower or sales and marketing team to deliver. In summary, Ian Bosman® Nail & Fastener, Inc. will adopt the following sales and marketing approach to win customers over;

Open our construction nails and fastener manufacturing company in a grand style with a party for all.
Introduce our construction nails and fasteners manufacturing company by sending introductory letters alongside our brochure to construction companies, furniture manufacturing companies, roofing contractor companies, machines and equipment manufacturing companies and key stake holders in and around Boise – Idaho
Ensure that we manufacture a wide range of construction nails and fasteners
Make use of attractive hand bills to create awareness and also to give direction to our factory
Position our signage / flexi banners at strategic places around Boise – Idaho
Position our greeters to welcome and direct potential customers
Create a loyalty plan that will enable us reward our regular customers
Engage on road shows within our neighborhood to create awareness for our construction nails and fastener manufacturing company
List our business and products on yellow pages ads (local directories)
Leverage on the internet to promote our business
Engage in direct marketing and sales
Encourage the use of Word of mouth marketing (referrals)
Join local chambers of commerce and industries with the aim of networking and marketing our products.

11. Publicity and Advertising Strategy

Despite the fact that our construction nails and fasteners manufacturing company is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our construction nails and fastener manufacturing company.

Ian Bosman® Nail & Fastener, Inc. has a long – term plan of opening our retail outlets in various locations all around Boise – Idaho and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Boise – Idaho before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Ian Bosman® Nail & Fastener, Inc.;

Place adverts on community based newspapers, radio stations and TV stations.
Encourage the use of word of mouth publicity from our loyal customers
Leverage on the internet and social media platforms like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Badoo, Google+ and other platforms to promote our business.
Ensure that our we position our banners and billboards in strategic positions all around Boise – Idaho
Distribute our fliers and handbills in target areas in and around our neighborhood
Contact construction companies, roofing contractor companies, equipment and machines manufacturing companies and other stakeholders by calling them up and informing them of Ian Bosman® Nail & Fastener, Inc. and the products we manufacture and sell
Advertise our construction nails and fastener manufacturing company in our official website and employ strategies that will help us pull traffic to the site
Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to construction nails and fasteners manufacturing company, it is normal for clients to go to places where they can get construction nails and fasteners at cheaper price which is why big player in the nails, screw, nut and bolt industry co will always attract loads of corporate and individual clients.

We know we don’t have the capacity to compete with leading construction nails and fasteners manufacturing companies in the United States and Canada, but we will ensure that the prices and quality of all the products that we manufacture are competitive with what is obtainable amongst construction nails and fastener manufacturing nails within our level.

Payment Options

The payment policy adopted by Ian Bosman® Nail & Fastener, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Ian Bosman® Nail & Fastener, Inc. will make available to her clients;

Payment via bank transfer
Payment with cash
Payment via credit cards / Point of Sale Machines (POS Machines)
Payment via online bank transfer
Payment via check
Payment via mobile money transfer
Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for the purchase of our construction nails and fasteners without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our products.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.

The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked. As for the detailed cost analysis for starting a construction nail and fastener manufacturing business; it might differ in other countries due to the value of their money.

This is the key areas where we will spend our start – up capital on;

The Total Fee for Registering the Business in the United States of America – $750.
Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
Marketing promotion expenses for the grand opening of Ian Bosman® Nail & Fastener, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
The total cost for hiring Business Consultant – $2,500.
The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400.
The total cost for long – term leasing of a standard warehouse and showroom – $250,000
The total cost for remodeling the warehouse – $20,000.
Other start-up expenses including stationery ($500) and phone and utility deposits – ($2,500).
Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
The total cost for nails and fasteners making machines and start-up inventory – $250,000
The total cost for counter area equipment – $9,500
The total cost for store equipment (cash register, security, ventilation, signage) – $13,750
The total cost for the purchase and installation of CCTVs: $10,000
The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
The total cost of launching a Website: $600
The total cost for our opening party: $7,000
Miscellaneous: $10,000

We would need an estimate of five hundred and fifty thousand dollars ($550,000) to successfully set up our construction nails and fasteners manufacturing company in Boise – Idaho. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funds / Startup Capital for Ian Bosman® Nail & Fastener, Inc.

Ian Bosman® Nail & Fastener, Inc. is a family business that is owned and financed by Ian Bosman and his immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas we intend generating our start – up capital;

Generate part of the start – up capital from personal savings and sell of stocks
Source for soft loans from family members and friends
Apply for loan from my Bank

N.B: We have been able to generate about $200,000 (Personal savings $150,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $350,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Ian Bosman® Nail & Fastener, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to manufacture and retail durable and quality construction nails and fastener a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Ian Bosman® Nail & Fastener, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

Business Name Availability Check: Completed
Business Registration: Completed
Opening of Corporate Bank Accounts: Completed
Securing Point of Sales (POS) Machines: Completed
Opening Mobile Money Accounts: Completed
Opening Online Payment Platforms: Completed
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Leasing of facility and remodeling the facility (warehouse and factory): In Progress
Conducting Feasibility Studies: Completed
Generating capital from family members: Completed
Applications for Loan from the bank: In Progress
Writing of Business Plan: Completed
Drafting of Employee’s Handbook: Completed
Drafting of Contract Documents and other relevant Legal Documents: In Progress
Design of The Company’s Logo: Completed
Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
Recruitment of employees: In Progress
Purchase of the needed nails and fastener making machines, furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
Creating Official Website for the Company: In Progress
Creating Awareness for the business both online and around the community: In Progress
Health and Safety and Fire Safety Arrangement (License): Secured
Opening party / launching party planning: In Progress
Compilation of our list of products that will be available in our store: Completed
Establishing business relationship with vendors – suppliers and wholesale distributors of construction nails and fasteners: In Progress