A business plan is like a building plan. Without it you shouldn’t start a cooking gas business. It would amount to building something without the proper structure or guide on how to make it successful.
There is no enough excuse to start a cooking gas business without a proper business plan. My simple advise is this, if you are willing to invest millions into a business, why not first risk a few hundreds of thousands to know if that business is worth investing your millions.
A cooking gas business plan gives you more information about the viability and sustainability of a cooking gas plant.
Introduction to Cooking Gas Business Plan
The right way to write any business plan is to fully understand the business properly. A business plan is not a novel with fictional figures and plans. Your cooking gas business plan must be realistic and in consonant with the realities of the business you are planning for. And in this case, the cooking gas plant business.
One of the ways to grow your knowledge of the business is to get the right information from reliable sources. For example, you can search online for resources that gives better information about cooking gas plant.
You can also use a mentor or attend a special training or seminar on the business. Unless you are not planning to write your cooking gas business plan yourself, you must equip yourself with the best knowledge of that business.
How it Works
A business plan is a workable plan for your cooking gas plant. So, it’s not enough to just search online for information to help you write a cooking gas business plan. You must seek to know how the cooking gas plant works.
If your cooking gas plant is going to work, it would be because your cooking gas business plan is a workable document. And the type that works is the one with all the necessarily and workable blueprint for the business.
For example, you need to know how to find better cooking gas plant location, where to buy the necessary equipments to setup the plan and cooking gas fuel itself. You need to know the inner workings of cooking gas plant, especially the startup information. Like, the regulatory requirements for setting up a cooking gas plant and cost implications.
If your cooking gas business plan is not detailed enough, you are like a blind investors. You will be shocked on realizing the deep mistakes you would face when you venture into starting the business.
What Should Be in A Cooking Gas Business Plan:
A business plans/feasibility reports on cooking gas plant are highly needed to give more enlightenment on this type of investment to potential investors. The reports should be bankable and professionally written as they are needed to guide your investment decisions, business growth, seek for loans from banks (BOI & commercial banks) and attract investors.
If you do not have the money now to start up, your business plan can be used to source for loans.a bankable business plan would be calculated on minimum percentage interest rate with a 3 months moratorium.
The business plan should also come with a 3 years financial report and should includes:
● Sales Forecast
● Cost Forecast
● Financial plan (Including Loan repayment plan)
● Profit and loss
● Operational plan (including startup operation)
● Business Cash flow.
● Viability Analysis
To get our business feasibility report, The report would give you a better understanding of the setup cost and expected return on investment are very bankable and Report can be used to access Loans from banks or investors as professionally and realistic.
Document comes with a 3 years financial forecast which includes the business cash flow, viability, profit & Loss, Operational plan and many more.
Do It For You Business Plan
And there is nothing wrong either if you choose a do it for you approach. Yes, you can hire someone to write your cooking gas business plan for you, as long as the person is a professional who understands the cooking gas industry too well. You don’t need a novice to write a plan for you who is also a novice in the business.
But once you have settled for a do it for you service, look for someone with the right credentials for the business you want to start. And since we are talking about cooking gas plant, your best choice is a cooking gas consultant.
The price of writing a cooking gas plan business plan is between N150,000 to N300,000. Don’t settle for a junk document. The price ensure qualify and not copy and paste business plan. And you need one that can be ready within the shortest possible time with feasibility report on the proposed location for the cooking gas plant.
Action Points to Package A Business Plan
Cooking gas usage is fast on the increase especially in urban cities across Nigeria. Just within 5years, cooking gas consumption and Demand has grown over 120% and just less than 30% of our population cooks with cooking gas.
As you already know, cost and availability of Kerosene has tripled and it is therefore evident that the use and demand of cooking gas would quadruple and now is the right time to make investments in cooking gas plant.
LPG Mini Cylinder Refilling Plants (MCRP) or LPG mini cooking gas plant (MCGP) would be needed to bring cooking gas closer to the consumers. This mini refilling plants are mobile and easy to operate as well.
The land size land size required for this type of refilling plant is a small piece of land or space and they can be easily relocated to a more profitable location. While a cooking gas plant tank has over 20years operating life span.
Step One: Know Your Business
You cannot be a novice in cooking gas business. You need the right information, whether you are the one writing the business plan or not. What you know about cooking gas business will help you to interpret the cooking gas business plan if someone else have written it for you.
So, it’s not just about knowing it so you can write the business plan yourself. Warden Buffet most inspiring advise is you shouldn’t invest in a business you know nothing about.
Step Two: Set Your Vision And Goals
You need to set goals and align it with your vision. Going into a business without a vision is unprofitable to you. And without vision, even the writer of your vision cannot put up a better business plan that meets your aspirations.
Your vision must be clear and the person writing your business plan must understand your vision. For example, what’s your business strategy? Do you want to operate one cooking gas plant or you plan to operate multiples?
What are your location strategies? Are you targeting people in rural areas or urban centers? Or do you hope to setup only on major bus stops? You need to guide how your business plan is presented with your vision and goals.
Step Three: Define Your Total Addressable Market (TAM)
Another aspect you should consider seriously is your total addressable market or TAM. How many customers would be buying from your gas plants? What’s the coverage of your business and the potential customer base?
Addressing your market size is important if you need to get funding from investors or financial institutions. What’s the population of your target cities? How many of them are likely to buy from you? Or how many of them can be covered within your cooking gas plants Locations?
This figures would help to address your potential revenue based on your estimated market size. And investors love figures that shows huge market size.
Step Four: Package Your Cooking Gas Business Plan
You are not alone. Get a consultant to help you write your cooking gas business plan. You can send us a request and we would help you write your plan for a fee. But if you can write it yourself, it’s even more helpful.
Don’t worry about what to write or how to write them. A cooking gas business plan is a simple but important document that shows why you want to start cooking gas business, what you want to, and how you want to do them.
Once you have these ideas put together into a document, your cooking gas business plan is ready for implementation.
Step Five: Review Your Business Plan
Most people don’t know it’s important to review your cooking gas business plan. That you have a business plan doesn’t always mean it’s workable. Even if it’s written for you by the best professionals in town. You need to review what has been packaged for you.
One of the best ways to review a business plan is to share your plan with a mentor. If you don’t have a mentor, it’s about time to get one. You need mentors who could help in many ways.
Don’t see a mentor as a person who you run to when you have problems. But he or she should be someone who is well rounded in business or is knowledgeable in a certain field of interest to you.
And when you review your business plan don’t make it obvious it’s a business plan. Pitch it as a business idea and share it with your mentor to get his or her views. Take note of what they say to you. And review what they say with market realities.
And you don’t have to know how to write a business plan. You can hire a professional or consultant to write it for you. Most big companies do the same. They pay professionals like Phillip consulting to write their business plan.
Finally, you need to upgrade yourself in cooking gas business. Get to understand the know-how in the industry. Study the setup requirements and costs. Know about the market trends and supply chain. Anything that would help you make informed decision is important.