Starting an Insecticide Production Company – Sample Business Plan Template

1. Carry out a Feasibility Study

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 firsthand information on what is required to set up your own insecticide production company, the likely competitions you will contend with, how to source for raw materials and safety and good measure needed for such industry et al.

2. Write Your Business Plan

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 Equipment

Before paying for any facility, it is essential to cross-check with the relevant authority in your state of the 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 is produced, and this can be dangerous to both human and animal.

5. Hire Employees

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 company to progress, you must pay them as at when due. That is the sacrifice of starting a business.

6. Pay Attention to Your Packaging and Branding

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 kinds of stuff that are attractive and well branded. Ensure that you pay experts to help you package and brand your product. If your insecticide is well branded and packaged, people can quickly identify it and perhaps order for it when they shopping.

7. Create Your Market

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. Indeed it will be challenging to compete with a well-known brand, so in order to survive; you must create your own market. You can start with neighbourhood supermarkets and you could hire sales rep to help you take your products to the streets via road shows et al. The most essential 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.