Business Plan -Setting Up Small Cabinet Shop
Developing a business plan for starting a small cabinet shop is critical. Setting up the company requires marketing, insurance, and financial planning. Fabrication, sales, design, estimating, and installation will be a few of the hats you will wear.
I always start every new venture by making a list or brainstorming if you will. The form should include items such as shop rent, banking fees, tools/equipment, vehicle & registration, insurance- both liability and auto, business license fees, workman’s comp insurance costs and office supplies. You’re going to need to pay for a book keeper, accountant, utilities, computers, machines and an attorney to review your lease. Will you open a sole proprietorship, corporation or LLC? These are only a few things you need to consider in the small business plan.
Where will your customers come from?
Business Plan Outline for Starting a Cabinet Company
Refer to this ideas list, it will help you assemble a business that will work off of a well- thought out plan. Starting your company is going to take an extreme amount of work so get it all on paper first.
You should purchase a good calculator now cause your going to need it. Get some aspirin too!
If financial loans from a bank are going to be required to start up, then you must have a strong marketing plan assembled for no less than a three year period.
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Shop Items Needed
2) Staple guns
4) Large equipment, table saw, edge-bander, dust collectors, drilling machine, shaper, etc.
5) Assembly benches, saw tables and storage racks will require materials to build them out of.
6) Air hoses, galvanized pipe, PVC pipe, filters, regulators, connectors.
7) Hand tools, drills, dikes, nail set, drill-bits, staples, screws, glues, caulking, tape measures, levels, squares and cleaners.
8) Spray guns
Now for planning the heart of the business you will need office supplies. The company cannot survive without them. You’re going to need to keep all of your companies cabinet shop insurance, banking, billing, and financial plan records in good and decent order.
Office Supplies Needed
2) Computer, printer, ink and paper
5) Phone and answering machine
6) Pens, pencils, clips and paper
7) File cabinet drawers, file folders
8) Planning board & calendar
9) Desk and chair
10) Photo album
11) Fax machine
14) Business Cards
15) Note pads for meeting with customers
16) Drafting paper or computer design program
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Plan Costs Associated With Opening a Cabinet Business
There will be many more related costs to opening the cabinet business. This outline plan will be associated with utilities, insurance, licenses and set up fees for an accountant, attorney and book keeper. Planning to meet with potential prospects prior to launching the business would be a wise decision.
1) Meet and review all financial requirements with an accountant. Things such as taxes, how to pay, how much, what kinds of taxes and when are they due?
2) Book keeper will keep the business plan in financial order, choose one wisely.
3) Business licenses will be required
4) Power company deposits
5) Phone company deposits
6) Auto insurance and pre-payments
7) Liability insurance and down payments
8) Internet fees
9) Water /sewer bills and deposits
10) Trash disposal-will you need a dumpster?
11) Down payment on a building for rent, first, last and security
12) Workman’s comp insurance or exemption will both cost money
13) Gas budget and auto maintenance
14) Truck lettering and business sign
15) Cabinet delivery trailer or truck, perhaps you could start out renting one as needed.
16) Corporation set-up and annual fee
I’m sure you have a list by now, for planning your cabinet company start up, twice as long as this one. Each business plan will have its own unique features. Associated costs should be figured to the tee prior to opening. Setting the predefined course up may seem like a small thing, but I imagine you’re already having second thoughts after doing the preliminary calculations of this financial planning outline. Starting off right will help you succeed.
Now, sharpen your pencil and get busy!