Ice-making Business Plan – Publicity and Advertising Strategy
Even though we intend to offer several products and services that are far better than that of our competitors, we would still need to ensure that we improve on our publicity so that we not only increase awareness for our business but also we also generate revenue that will develop and grow our business.
We might need a commercial consultant who understands the market to help us draft business strategies that would be beneficial to our business. Also, the publicity strategies will help communicate our brand positively to our target market.
Some of the platforms which we intend to use to promote and advertise our ice block making business are;
Our Pricing Strategy
The strategy of pricing our products is very vital as we do not want to offer too high prices to impede customer accumulation or too low prices that would hurt our business and therefore kill off our company ultimately.
There are several determining factors that we must take into consideration when determining the prices for our products and services. The factors are the manufacturing costs, managing expenditures, competitors’ prices, and the purchasing rate.
However, in order to attract more customers into our business, we plan to offer all our clients discounted rates on purchases for the first-three-months of operation. Even though this is likely to lead us to run at a lower margin, we are quite confident that we won’t be running at a loss.
Since we would not be only offering basic services but will be providing additional services that will bring in diverse customers, we plan to have a payment option that will suit various customers. The payment options are:
It should be pointed out that we chose the above payment options with discretion in order to facilitate our various clients and us as well. Our bank account is visible on our website so that the customers can pay before coming to our office to get the products.
Start-Up Expenditure (Budget)
Generating the necessary revenue for a business is vital, it is essential that we understand what to use the money for in the first place so that the money would not be spent/wasted anyhow before the business starts.
There is no required amount to start an ice-making and ice-vending business, and so one’s capital can be more or less depending on the scale of the business the entrepreneur plans to start up.
Even though there are several types of ice-making equipment, one has to be careful to purchase the genuine one so that they don’t end up buying an equipment that will continually need repairs, which will in-turn drain the revenue of the business.
Therefore, to start the ice-making business here, there are specific requirements we need to fulfill, and they are listed below;
From the above estimates, we would require the amount in order to start and operate our ice-making and ice-vending business with success. The amount covers workers’ salaries, purchasing ice-making equipment, a delivery van as well as annual rent for the facility.
Generating Funding / Startup Capital for Ice-Making Business
It is critically important to have sufficient capital to launch an investment. No matter how great the business idea is. The business plan is just an idea if without enough funds. Only finance can realize the idea and make it a reality.
Glacier ice factory is a business that is wholly owned by Mr. Samuel Adeyo, which he plans to pass it over to his family when it is time, and so they don’t have the intention to invite any external investor into their business. That is the reason they decided to source fundings from the following two sources.
Ice-making Business Plan – Sustainability and Expansion Strategy
Every established business requires several factors to remain sustainable and expand in the future. The necessary elements for sustainability and expansion are conducting a thorough marketing and publicity strategy , building a sturdy business structure and also reinvesting back into the business.
Building a sturdy business structure of a new business is vital as we know that this causes us fewer hitches than we ordinarily should. Therefore, we intend to go the extra mile in guaranteeing that we employ the best employees to work for us.
The employees we will hire are those who not only agree with our corporate values and objectives but also understand how to run a good business. We are to ensure that we pay our employees a better salary than other similar start-ups.
It is essential that we generate enough revenue for our business, which will allow us to remain sturdy, which is why we have outlined effective marketing and sales strategies in generating the needed revenue for our company. This will allow us to compete favorably against our competitors.
At last, we are about to reinvest our partial revenue back into the business, which allows us to sustain our business as well as expand it.
Check List / Milestone