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Making a Risk Management Plan for Your Business
It’s impossible to eliminate all business risk. Therefore, it’s essential for having a plan for its management. You’ll be developing one covering compliance, environmental, financial, operational and reputation risk management. These guidelines are for making a risk management plan for your business.
Developing Your Executive Summary
When you start the risk management plan with an executive summary, you’re breaking apart what it will be compromised of into easy to understand chunks. Even though this summary is the project’s high-level overview, the goal is describing the risk management plan’s approach and scope. In doing so, you’re informing all stakeholders regarding what to expect when they’re reviewing these plans so that they can set their expectations appropriately.
Who Are the Stakeholders and What Potential Problems Need Identifying?
During this phase of making the risk management plan, you’re going to need to have a team meeting. Every member of the team must be vocal regarding what they believe could be potential problems or risks. Stakeholders should also be involved in this meeting as well to help you collect ideas regarding what could become a potential risk. All who are participating should look at past projects, what went wrong, what is going wrong in current projects and what everyone hopes to achieve from what they learned from these experiences. During this session, you’ll be creating a sample risk management plan that begins to outline risk management standards and risk management strategies.
Evaluate the Potential Risks Identified
A myriad of internal and external sources can pose as risks including commercial, management and technical, for example. When you’re identifying what these potential risks are and have your list complete, the next step is organizing it according to importance and likelihood. Categorize each risk according to how it could impact your project. For example, does the risk threaten to throw off timelines or budgets? Using a risk breakdown structure is an effective way to help ensure all potential risks are effectively categorized and considered. Use of this risk management plan template keeps everything organized and paints a clear picture of everything you’re identifying.
Assign Ownership and Create Responses
It’s essential to ensure a team member is overseeing each potential risk. That way, they can jump into action should an issue occur. Those who are assigned a risk, as well as the project manager, should work as a team to develop responses before problems arise. That way, if there are issues, the person overseeing the risk can refer to the response that was predetermined.
Have a System for Monitoring
Having effective risk management companies plans includes having a system for monitoring. It’s not wise to develop a security risk management or compliance risk management plan, for example, without having a system for monitoring. What this means is there’s a system for monitoring in place to ensure risk doesn’t occur until the project is finished. In doing so, you’re ensuring no new risks will potentially surface. If one does, like during the IT risk management process, for example, your team will know how to react.
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How to Write a Diesel Distribution and Supply Business Plan [Sample Template]
Are you about starting a diesel distribution business? If YES, here is a complete sample diesel supply business plan template & feasibility report you can use for FREE . Okay, so we have considered all the requirements for starting a diesel distribution and supply business. We also took it further by analyzing and drafting a sample diesel distribution marketing plan template backed up by actionable guerrilla marketing ideas for diesel distribution and supply businesses. So let’s proceed to the business planning section.
Why Start a Diesel Distribution and Supply Business?
The rule of thumb in choosing a business to launch is to look out for a business whose products or services are in high demand. A diesel distribution and supply business is one such business but you must have the right exposure and finances.
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; a detailed blue print of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your services amongst other areas .
Below is a sample diesel distribution and supply business plan template that will help you successfully launch your own business.
A Sample Diesel Distribution and Supply Business Plan Template
1. industry overview.
Diesel distribution and supply business is classified under the Fuel Dealers industry and players in this industry sell diesel, heating oil, propane and other fuels directly to end users. Related companies also deliver heating oil, propane and other fuels, such as auto – gas and kerosene, to domestic and commercial premises.
Please note that the Fuel Dealers industry has moderate barriers to entry. Entrepreneurs that intend entering the industry must gain access to cost-effective and reliable sources of heating oil and propane for distribution. They also need to attract a customer base, most commonly away from existing operators. High industry competition limits access to customers.
New operators lack economies of scale because they have few customers when first entering the industry. If customers are geographically distant, transportation costs may be prohibitive due to high per-unit expenses. Since the industry’s products are substitutable, operators differentiate themselves through service and efficiency.
The Fuel Dealers industry is a thriving sector of the economy of the united states of America and the industry generates over billion annually from more than 11,419 registered and licensed fuel dealers (diesel distribution and supply) in the country.
The industry is responsible for the employment of over 78,218 people. Experts project the Fuel Dealers industry to grow at a -5.6 percent annual rate between 2012 and 2017. It might interest you to know that only AmeriGas can boast of having the lion market share of the available market in the United States.
A recent report published by IBISWorld shows that a large majority of Fuel Dealers industry revenue is derived from heating oil and propane sales for household heating purposes. Revenue generated from these sales fluctuates wildly every year, typically in line with changes in weather conditions and fossil-fuel prices. Revenue grew steadily in 2013 and 2014 as the particularly severe winter in early 2014 led to substantially greater fuel sales.
However, the industry is fighting to maintain its customer base as more buildings are refitted with less-expensive heating units, increasing external competition. Nevertheless, industry revenue is expected to gradually recover over the five years to 2023, largely due to an expected annualized increase of 4.4 percent in the world price of crude oil.
Some of the factors that encourage aspiring entrepreneurs to start a diesel distribution and supply business is the fact that the market is growing rapidly in the United States and it is not seasonal. That makes it easier for entrepreneur who are interested in the business to come into the industry at any time they desire; the entry barriers might be high but that any serious – minded entrepreneur can comfortably raise the startup capital even if it means collecting loans from the bank.
Over and beyond, the Fuel Dealers industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business as long as they are able to obtain the required license and permits; you can choose to start on a small scale and supply on a community level or you can choose to start on a large scale with distribution network spread across key cities all around the United States of America.
2. Executive Summary
Julius Padres® Diesel Distribution Company, Inc. is a registered fuel dealer company that will be involved in the distribution of diesel and other fuels to retailers, industries, household, hotels and restaurants et al. Our warehouse cum administrative office will be located in Waco – Texas.
We have been able to lease a warehouse facility that can fit into the kind of diesel distribution and supply company that we intend launching and the facility has easy delivery network. Julius Padres® Diesel Distribution Company, Inc. will distribute a wide range of fuels such as Diesel, Propane, Heating oil, Gasoline and Automotive fuels to end users at affordable prices.
We are aware that there are several diesel distribution and supply companies and contractors all around Waco – Texas, which is why we spent time and resources to conduct our feasibility studies and market survey so as to offer much more than our competitors will be offering. We have robust distribution network and strong online presence.
Beyond the distribution and supply of diesel, our customer care is going to be second to none in the whole of Waco – Texas and our deliveries will be timely and highly reliable. We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied when they patronize our products.
Julius Padres® Diesel Distribution Company, Inc. will ensure that all our customers are given first class treatment whenever they order diesel and other fuels from us. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large they may grow to.
Julius Padres® Diesel Distribution Company, 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 client’s needs precisely and completely.
Julius Padres® Diesel Distribution Company, Inc. is owned by Julius Padres. He has a B.Sc. in Business Administration, with over 8 years of hands on experience in the retailing and distribution industry, working for some of the leading brand in the United States.
3. Our Products and Services
Julius Padres® Diesel Distribution Company, Inc. is in the industry to distribute a wide range of quality and safe diesel and other fuel products. We are in the diesel distribution and supply industry to make profits and we will ensure that we do all that is permitted by the law in the United States to achieve our business aim and objectives.
Our products and services offerings are listed below;
- Heating oil
- Automotive fuels
- Other fuels
4. Our Mission and Vision Statement
- Our vision is to become the ‘go to’ diesel distribution and supply company in the whole of Waco – Texas.
- Our mission is to establish a diesel distribution and supply business that will distribute a wide range of quality fuel at affordable prices to retailers, households, industries, hotels and restaurants et al in Waco and other cities in Texas where we intend marketing our services and products.
Our Business Structure
Our intention of starting a diesel distribution and supply business is to build a standard diesel distribution and supply business in Waco – Texas. We will ensure that we put the right structures in place that will support the kind of growth that we have in mind.
We will make sure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business. 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 that will be made available at Julius Padres® Diesel Distribution Company, Inc.;
- Chief Executive Officer (Owner)
- Depot Manager
- Human Resources and Admin Manager
Sales and Marketing Manager
- Customer Services Executive
- Drivers / Distributors
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, appraising job results and developing incentives
- 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 fixing prices and signing business deals
- Responsible for providing direction for the business
- 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.
- Defines job positions for recruitment and managing interviewing process
- Carries out induction for new team members
- Accountable for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily office activities.
- Responsible for organizing the safe and efficient receipt, storage and dispatch of diesel and other fuel products
- Responsible for liaising with customers, suppliers and transport companies
- In charge of planning, coordinating and monitoring the receipt, order assembly and dispatch of diesel and other fuel products
- Responsible for using space and mechanical handling equipment efficiently and making sure quality, budgetary targets and environmental objectives are met
- In charge of coordinating the use of automated and computerized systems where necessary
- Accountable for keeping stock control systems up to date and making sure inventories are accurate;
- Accountable for producing regular reports and statistics on a daily, weekly and monthly basis
- In charge of overseeing the maintenance of vehicles, machinery and equipment.
- Ensures that proper records of diesel and other fuel products are kept and warehouse does not run out of products
- Ensures that the warehouse facility is in tip top shape and diesel and other fuel products are properly arranged and easy to locate
- Interfaces with third – party suppliers (vendors)
- Controls diesel distribution and supply and supply inventory
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contact
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
- Manages the organization website
- Handles ecommerce aspect of the business
- Responsible for installing and maintenance of computer software and hardware for the organization
- Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
- Manages the organization’s CCTV
- Handles any other technological and IT related duties.
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- 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
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
Client Service Executive
- 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 customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
Distribution Truck Drivers
- Assists in loading and unloading diesel and other fuel products
- Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
- Keeps a record of vehicle inspections and make sure the truck is equipped with safety equipment
- Assists the transport and logistics manager in planning their route according to a distribution schedule.
- Inspects vehicles for mechanical items and safety issues and perform preventative maintenance
- Complies with truck driving rules and regulations (size, weight, route designations, parking, break periods etc.) as well as with company policies and procedures
- Reports defects, accidents or violations
6. SWOT Analysis
Our intention of starting out in Waco and distribute our diesel and other fuel products only within Waco – Texas is to test run the business for a period of 3 to 5 years to know if we will invest more money, expand the business and then start our diesel distribution and supply all around the state of Texas.
We are quite aware that there are several diesel distribution and supply companies and contractors all over Waco 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 equipped to confront our threats.
Julius Padres® Diesel Distribution Company, Inc. employed the services of an expert HR and Business Analyst with bias in retailing and distribution 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 Julius Padres® Diesel Distribution Company, Inc.;
Our location, the business model we will be operating on (robust distribution network), reliable distribution tankers, varieties of payment options, wide range of diesel and other fuel products and our excellent customer service culture will definitely count as a strong strength for us. So, also our management team are people who have what it takes to grow a business from startup to profitability within record time.
A major weakness that may count against us is the fact that we are a new diesel distribution and supply business and we don’t have the financial capacity to compete with leaders in the industry especially as it relates to economy of scales.
The fact that we are going to be operating our diesel distribution and supply business in Waco – Texas provides us with unlimited opportunities to distribute our products to a large number of factories, retailers, households and businesses.
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 patronize our products and services; we are well positioned to take on the opportunities that will come our way.
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 similar business in same location.
7. MARKET ANALYSIS
- Market Trends
Distribution of goods has been in existence for as long as human started trading goods, but one thing is certain, the distribution industry is still evolving. The introduction of technology has indeed helped in reshaping the industry.
The trend in the fuel dealer industry shows that as oil and natural gas prices decrease, industry revenue is expected to decline, industry operators have tried to cut prices to discourage customers from switching to natural gas and customers will likely transition from propane to natural gas due to price differentials. Please note that external factors such as world price of crude oil and world price of natural gas will always impact industry performance.
Lastly, it is now a common phenomenon for diesel distribution and supply companies to leverage on technology to effectively predict consumer demand patterns and to strategically position their business to meet their needs; in essence, the use of technology helps diesel distribution and supply businesses to maximize supply chain efficiencies.
8. Our Target Market
The diesel distribution and supply industry has a wide range of customers; a good number of households, hotels, and manufacturing companies make use of diesel and other fuel products and it is difficult to find people around who don’t.
In view of that, we have positioned our company to service businesses in Waco – Texas and every other location we will cover. We have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to retail (distribute) diesel and other fuel products to the following businesses;
- Manufacturing companies
- Power plants that run on diesel
- Facility managers that make use of diesel
Our competitive advantage
Julius Padres® Diesel Distribution Company, Inc. is launching a standard diesel distribution and supply business that will indeed become the preferred choice in Waco – Texas. Our competitive advantage revolves around our ability to attract local support and patronage, easy compliance with government regulations and having a loyal customer base.
One thing is certain; we will ensure that we have diesel and other fuel products available in our warehouse at all times. One of our business goals is to make Julius Padres® Diesel Distribution Company, Inc. a one stop diesel distribution and supply company. Our excellent customer service culture, timely and reliable delivery services, online presence, and various payment options 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 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
Julius Padres® Diesel Distribution Company, Inc. will generate income by offering the following services and products.
10. Sales Forecast
One thing is certain when it comes to diesel distribution and supply business, if your business is centrally positioned coupled with effective and reliable distribution 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 Waco – Texas and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.
We have been able to examine the diesel distribution and supply industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Julius Padres® Diesel Distribution Company, Inc., it is based on the location of our business, and other factors as it relates to diesel and other fuel products startups in the United States;
- First Fiscal Year: $440,000
- Second Fiscal Year: $750,000
- Third Fiscal Year: $1.5 million
N.B : This projection was 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 offering same products and distribution 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 to launch Julius Padres® Diesel Distribution Company, Inc., we conducted a thorough market survey and feasibility studies in order for us to be able to penetrate the available market and become the preferred choice in Waco – Texas. We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.
We hired experts who have good understanding of the retailing and distribution industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Waco – Texas.
In summary, Julius Padres® Diesel Distribution Company, Inc. will adopt the following sales and marketing approach to win customers over;
- Introduce our business by sending introductory letters alongside our brochure to diesel and other fuel products retailers, factories, facility managers, hotels, households and key stake holders in and around Waco – Texas
- Ensure that we have a diesel and other fuel products in our warehouse at all times.
- Make use of attractive hand bills to create awareness business
- Position our signage / flexi banners at strategic places around Waco – Texas
- Create a loyalty plan that will enable us reward our regular customers
11. Publicity and Advertising Strategy
Even though our diesel distribution and supply business is well structured and well located, we will still go ahead to intensify publicity for the business.
Julius Padres® Diesel Distribution Company, Inc. has a long-term plan of opening distribution channels all around the state of Texas which is why we will deliberately build our brand to be well accepted in Waco before venturing out. Here are the platforms we intend leveraging on to promote and advertise Julius Padres® Diesel Distribution Company, Inc.;
- Place adverts on community based newspapers, radio 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, Google+ and other platforms to promote our business.
- Ensure that our we position our banners and billboards in strategic positions all around Waco – Texas
- Distribute our fliers and handbills in target areas in and around our neighborhood
- Advertise our diesel distribution and supply business in our official website and employ strategies that will help us pull traffic to the site
- Brand all our official cars and distribution vans / trucks and ensure that all our staff members wear our branded shirt or cap at regular intervals.
12. Our Pricing Strategy
Pricing is one of the key factors that gives leverage to distribution companies and retailers, it is normal for retailers to purchase products from distribution companies that offer cheaper prices. We will work towards ensuring that all our diesel and other fuel products are distributed at highly competitive prices compared to what is obtainable in the United States of America.
We also have plans in place to discount our diesel and other fuel products once in a while and also to reward our loyal customers from time to time.
- Payment Options
The payment policy adopted by Julius Padres® Diesel Distribution Company, 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 Julius Padres® Diesel Distribution Company, Inc. will make available to her clients;
- Payment via bank transfer
- Payment via credit cards/Point of Sale Machines (POS Machines)
- Payment via POS machines
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for diesel and other fuel products purchase without any stress on their part.
13. Startup Expenditure (Budget)
Having done our due diligence , this is what it would cost us to set up Julius Padres® Diesel Distribution Company, Inc. in the United of America;
- 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 Julius Padres® Diesel Distribution Company, 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 cost for hiring business consultant – $2,500.
- The cost for insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- The cost for payment of rent for 12 months at $1.76 per square feet tank farm facility cum mini depot in the total amount of $75,500.
- The total cost for depot facility remodeling (construction of mini depot / tank far) – $70,000.
- 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) – $150,000
- The cost for Start-up inventory (stocking with diesel and other fuel products and cylinders et al) – $200,000
- Storage hardware (bins, rack, shelves) – $3,720
- The cost for store equipment (cash register, security, ventilation, signage) – $13,750
- The cost of purchase and installation of CCTVs – $5,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
- The cost for the purchase of distribution tankers / trucks – $75,000
- The cost of launching a website – $600
- Miscellaneous – $10,000
We would need an estimate of $1.5 million to successfully set up our diesel distribution and supply business in Waco – Texas.
Generating Startup Capital for Julius Padres® Diesel Distribution Company, Inc.
Julius Padres® Diesel Distribution Company, Inc. is a private business that is solely owned and financed by Julius Padres. He has decided to restrict the sourcing of the start up capital to 3 major sources.
- Generate part of the startup capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my bank
N.B: We have been able to generate about $500,000 ( Personal savings $450,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $1 million from our bank. All the papers and documents 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 number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.
One of our major goals of starting Julius Padres® Diesel Distribution Company, 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 supply/distribute our diesel and other fuel products a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.
Julius Padres® Diesel Distribution Company, 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 retraining 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 three 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.
- 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 mini depot facility and construction of tank farm: 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
- Printing of Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Purchase of distribution tankers/trucks: Completed
- 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
- Establishing business relationship with diesel and other fuel products well owners and production companies within and outside of the United States of America: In Progress
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Here's what you'll discover in the 'How to Start a Gas Station Business' book:
Success Tip: Setting Goals
Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.
Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.
Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.
Click here! to download your Gas Station Business plan PDF book for free
Management Skills Video: How to Become a Great Manager and Leader
Learn how to improve your leadership skills and become a better manager and leader. Here's how to be the boss people want to give 200 percent for. In the following video you'll discover 120 powerful tips and strategies to motivate and inspire your people to bring out the best in them.
For more insightful videos visit our Small Business and Management Skills YouTube Chanel .
Here're other free books in the "how to start a business" series that may interest you:
Here's a Sample 'Executive Summary' for a Gas Station Business plan :
COMPANY NAME is a convenient store and gas station that has served the community for the last 40 years. As a staple in the community for gas and cooked food, COMPANY NAME is looking to expand to a full service discount store. This convenience store is looking for funds that will allow this already successful business to offer laundry services, discount groceries and an upgraded store front. Industry: The gas station industry is fragmented industries with no real dominate company. The industry has revenue of over 115 billion of annually. In recent years, almost 127,000 gasoline service stations operated in the United States. These establishments took very different forms than they had before, with self-service islands and ancillary retail outlets—convenience stores, known as C-stores—creating major changes in the distribution of market share. Company Goals:
- Increase revenue by 30% by 2013.
- Increase product mix by 25%
- Add laundry service.
- Increase foot traffic by 12% annually.
Our company has been a minority own business for 40 years and has the backing of the local community. Our goal is to increase the product we offer in hopes of additional revenue from our already existing client and customer base.
COMPANY NAME has established three firm objectives it wishes to achieve in the next three years:
- To capture an increasing share of the commuter traffic passing through.
- To offer our customers superior products, at an affordable price.
To provide customer service that is second to none.
The mission of COMPANY NAME is to offer commuters competitive gas prices and great food. The company will make a healthy profit for its owners and provide a rewarding work environment for its employees.
1.3 Keys to Success
- The keys to success for COMPANY NAME are:
- Good quality products at competitive prices.
- Excellent customer service that will promote customer loyalty.
- A location that will assure that commuters will stop.
COMPANY NAME is a convenience store and gas station in [INSERT TOWN]. OWNER’S NAME the current owner has seven years of experience in managing gas stations. OWNER’S NAME will focus on the commuters that pass through the town daily. They will offer its customers the best gas prices and quality food products.
2.1 Company Ownership
OWNER’S NAME , the owner and operator of the business has had over seven years of management and retail experience. The store was purchased by OWNER’S NAME from his father whom owned the store for over 40 years. The ownership of this store understands the importance of building relationships with the local community.
2.2 Company History
The COMPANY NAME store was formed as a sole proprietary company in 1970 in the state of [INSERT STATE] in the [INSERT COUNTY]. COMPANY NAME has been a minority owned and managed business for the last 40 years and has become a staple in the local community.
Table: Past Performance
There are over 4000 different skews that are offered on a daily basis at the Discount Corner store. The following is a general list of products.
- Cooked food
With the grant money they will be able to offer more products and services such as, groceries, and a laundry mat.
How to Delegate Tasks Effectively
1. Delegate to someone who is naturally responsible and accountable.
Anything less and you've got a problem.
2. Link performance to salary.
Make the task/accountability that you're delegating a requirement for the person to get paid.
3. Identify what the signs/measures of failure are.
This way, you can inform the person, in advance, what isn't acceptable, and what you'll be "looking out for...." This works.
4. Identify the measurables of the job/task/item.
Then, you'll both know if the job is getting done.
5. Develop an iron-clad reporting system.
A daily checklist, a weekly report, a monthly financial statement, a weekly meeting. Whatever it takes.
6. Install an oversight process.
Have someone else that you trust to check in/check up on the employees performance, results, accuracy, honesty.
7. Identify consequences for inadequate performance, in advance.
This way, no surprises and whatever actions you take are not punitive or arbitrary.
8. Double-check the work yourself from time to time.
This means to review the work, chat with customers, get outside verification.
9. Build in a system of continuous improvement of the delegated task/accountability.
This keeps the employee focused on creating new and better ways of doing what you need.
10. Customize a reward/incentive package, if appropriate.
Everyone has their own unique way to be motivated. Make sure that you understand theirs and create something around that, not around your own way. But don't be too generous -- that usually backfires. Remember, you're their employer, not their friend or business partner.
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Diesel Distribution Supply business Business Plan with Feasibility Analysis
Diesel Distribution Supply business Business Plan with Feasibility Analysis is outlined here. In fact, this is a sample diesel distribution business in Nigeria. It’s really a sample business plan for upstream oil and gas Service Company. In other words, it’s a business plan for oil and gas trading with diesel supply proposal format. In it also are details of diesel supply company ownership profile. Therefore, here is your Diesel Distribution Supply Business Plan with Feasibility Analysis.
Who needs this business Plan?
Table of Contents
Furthermore, Diesel Distribution Supply Business in Nigeria is a very lucrative business. In fact, are you interested in getting a fair share of your national cake? We suggest this business along the oil and gas distributive value chain. However, it’s a business that requires a lot of strategic planning to start. In fact, you will need some business development services from Complete Full Marks Consultants (CFMC) Limited to accomplish this. As a matter of fact, CFMC Limited will back you up with professional business consulting services.
Furthermore, you will need this business plan format when you make applications for government and non – government business capital grants. In addition, this format is also suitable for bank loan applications and for inviting investors. In fact, when you are writing your investment proposals or concept notes for business loan grant and start – up competitions, this must be handy.
Highlights of the Business Plan On Diesel Distribution Supply business Business Plan with Feasibility Analysis:
In addition, the highlights of this business plan include the firm’s SWOT Appraisal, feasibility analysis indicating unit cost of production and turnover generation. The market and marketing analysis are the other highlights. In fact, the variety of product and market segmentation are the other concepts to be well defined in this business plan. You have to follow me to see how these are reflected in this business plan.
The Executive Summary
This business plan is for Complete Diesel Distribution & Supplies Company Ltd. Complete Diesel Distribution & Supplies Company Ltd. is a legally registered company in Nigeria. It has a registered certificate to distribute and supply diesel to end users in Nigeria. It has its head office in Abuja.
This is a 3-year business forecast for diesel distribution in Nigeria. The feasibility analysis reveal that Complete Diesel Distribution & Supplies Company Ltd. will be generating a total turnover of N250,000,000.00 annually from the first year of operation. In fact, based on our 25% gross margin target, this gives a total gross profit of N62,500,000.00 and 15% net margin of N37,500.000.00.
Complete Diesel Distribution & Supplies Company Ltd. is incorporated in Nigeria in 2019 by three friends. Mr John, Matthew and Ifeanyi. Their shareholding is in proposion of 40%, 30% and 30% respectively.
We are really venturing into a business that is already saturated with big players. However, our research shows that these big players are unable to meet up with the demand from the middle class industries and citizens. Therefore, our major clientele is going to come from this section of the working class and business outfits of our economy.
In the light of this, we are going to leverage on three main competitive advantages. These are:
- Quality unadulterated products.
- Our customer base – middle class centric company
- All-round-year Availability – availability of volumes demanded
The business Objectives
The objectives for Complete Diesel Distribution & Supplies Company Ltd are to:
- Have our products and services in most big towns in Nigeria
- Maintain gross profit margin at 25%, and 15% net profit margin.
- Develop a sustainable Diesel distribution company that survives on its own cash flow.
In the light of the above, our goals include;
- Becoming a leading diesel supply company in the country within our first five years of operation
- Expanding our company operations beyond the borders of Nigeria.
Furthermore, the vision for Complete Diesel Distribution & Supplies Company Ltd is to;
Become the biggest diesel distribution company in Nigeria.
In fact, we parade a formidable management team of experienced managers. The ownership of Complete Diesel Distribution & Supplies Company Ltd. is made up of young talented and skilled artisans who have a good number of yours of industrial experience.
Furthermore, we have been able to appraise our internal and external environmental factors to determine how much strength, weakness, opportunity and threat to our existence posed by these factors. We are sure that internal economies of scale is not there yet to generate the lowest per unit cost of production. However, the availability of market that will foster high turnover will take care of this.
Our Product For Diesel Distribution Supply business Business Plan with Feasibility Analysis
Our products are going to be generally centred on diesel supplies and distribution. Because our clientele is going to be those of the middle class of the society, we have defined our product to be distributed in sizes. Therefore, there are going to be supplies in trucks, drums and other containers.
The Contributions of our Products and Services to the economy are;
- All-year-round availability of oil products
- Creating employment opportunities for the unemployed
- Procurement and supply of high quality diesel fuel to our clients
- Our capacity to deliver across the nation
- What we bring into the business
- In the light of the above, we bring into this business;
- Knowledge, skill and practical experience in the oil and gas sector
- The capacity to consistently deliver outstanding supply services
- Market watch for a good understanding of the market trends.
- Finally, our staff bring modern online operational, marketing, promotional, and technical skills.
READ ALSO :
- Grow Your Business with Business Plan Growth Templates
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- Kerpsene Distribution business plan
- Cooking Gas Distribution Business Plan with Feasibility Study
The Financial Plan
Furthermore, the materials and equipment required for diesel distribution business in Nigeria include Diesel trucks, office building, truck maintenance tools, company vehicles and so on
In fact, these are analysed in this business plan. This financial analysis segment details all of these. Therefore, included are estimates on capital funding and assets requirement. Then are, turnover and income statement forecast for the period under plan.
The Final Copy Of Diesel Distribution Supply business Business Plan with Feasibility Analysis
As a matter of fact, the final copy is always available. This you will have on request at a minimal cost. Therefore, if you must win the loan application or attract investors, you need this part of the business plan. This is where we generate the parameters that determine if you are capable of winning the loan application or attract the needed investor.
In conclusion, it’s to let you know that Complete Full Marks Consultants (CFMC) Limited is a firm of Chartered Accountants, Auditors, Taxation and Management Consultants. Our professional expertise is always brought into our business plan development. In fact, our several years of industrial experience speaks for us. Therefore, we can assist you with all the business support services you desire.
Call us on +234 8034347851 or email us via [email protected]
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