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7 Steps To Become a Cable Company

Starting a cable manufacturing company just like starting any other company requires serious planning, savings and commitment if you want it to grow and become very profitable. A Cable company manufactures cables and wires needed in the construction industry and also in any electrical works. No building is complete without proper wiring of the building. Cables are the materials needed to transmit electrical power in a building, automobile, ships, airplanes, electronics et al.
No doubt starting a cable company requires that you obtain operating license from the government of your country and also you must ensure that you produce cables that are of high quality. As a matter of fact, your cables must meet the standard set by International Standard Organization (ISO). The fact that sub standard cables can cause serious havoc means that caution must be followed when manufacturing cables.
So, if you intend to start your own cable manufacturing company, then you must take out time to study how the industry work, the market for the industry, the various regulating body, best practices and every other areas that will benefit you. It is important to state that starting a cable manufacturing company is a capital intensive business, but it is still a very profitable venture and your market can go beyond you community and country to other parts of the world.
Now let us quickly go through the 7 steps to follow to be able to start your own cable company from the scratch and then build it to profitability within the shortest time possible;

Starting a Cable Company – Sample Business Plan Template

1. Conduct Your Feasibility Studies
The first thing to do before starting any business is to take out time to conduct your own feasibility studies before committing your money to the business. The fact that a cable manufacturing company requires huge capital to set it up means that you should conduct a thorough risk assessment so that you can be rest assured that your money will be put in the right business.
2. Draft Your Business Plan
You would have to draft a good business plan before starting your own cable manufacturing company. The need for a good business plan in a business of this nature can not be over emphasized. You would need a good business plan to be able to access loans and also to be able to attract business partners and investors. It is advisable to hire business experts to help you with your business plan; all you need to do is to communicate to them what you want to achieve and they will help you draft a business plan that will pass reality check.
3. Raise Your Startup Capital
No doubt starting a cable manufacturing company requires huge startup capital and if you are lucky to have saved up the money required, good and fine for you but if not, then you can explore other ways to raise your own startup capital. Some of the ways to raise startup capital include; obtaining a loan from your bank, obtaining money from your retirement benefits and personal savings, as well as get soft loans from your family members and your friends. You can also raise startup capital from business partners and investors.
4. Incorporate Your Company and Obtain the Required Business License
The next thing to do after you are done with the feasibility studies and drafting of your business plan; is to ensure that you incorporate your business with the corporate affairs commission of your country. You can hire a lawyer to help with that. Once you are done with incorporating your company, then you should go ahead to apply and obtain the required business operating license for a cable manufacturing company. You will also be required to apply and obtain your Tax Payer’s ID.
5. Lease or Purchase a Facility
A cable manufacturing company requires large space for the factory (production line) and also for administrative jobs. So, ensure that you talk with your real estate agent so that they can assist you in securing a suitable facility within the zone approved for such industry in your State of community. No doubt you would have to spend the bulk of your startup capital on leasing or renting a facility and also in purchasing and installing of the needed machines for cable production. Safety measure should also be put in place when designing and constructing your cable manufacturing factory.
6. Hire Employees
Starting a cable manufacturing company is not one of those businesses that you can start and operate alone. You would need to hire competent employees to work with you. You would need a mix of skilled and unskilled workers. Hence, when you are drawing up your business plan, ensure that you make provision for the salaries of the staffs you are to hire – as a matter of fact, you just have to save up to pay them for 6 months to one year with or without profits from your business.
7. Market Your Products
The market for cable is large and the construction company cum real estate industry happens to be the major consumer. Cables are a very essential part of every building constructed since it is the means by which electricity is transmitted. For that reason, your marketing strategy should include networking with construction companies, and electrical power companies; they are your major clients. You can also explore international markets and start exporting your cables to other countries.
Lastly, starting a cable manufacturing company requires that you should stay abreast with international best practices and also ensure that your product meet the required standard set by International Standard Organization (ISO). The truth is that if your products do not meet the required standard your company can be shot down and you can loose your business license and investment.
There you have it, the 7 steps to follow to be able to start your own cable manufacturing company from the scratch and then build it to profitability within the shortest time possible.

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