Start Up Business Palm Oil 2019/2020 | Palm Oil Business Grant/Loan 2019/2020 Feasibility Study – Palm Oil Business Plan Start-up Cost Analysis is a well-articulated cost analysis for Palm oil business start-up.

They re costs you incur for take off of a standard palm oil business plan with 3 years financial analysis, palm oil plantation business plan, palm kernel oil production business plan and for feasibility study on palm oil production in Nigeria. Palm Oil Business Plan Start-up Cost Analysis is an all purpose proposition.

prepare a schedule of your start-up

In the first place, prepare a schedule of your start-up proposition as in a mile stone frame.  Then,  quantify them and put monetary value on them. Again, link them up with your Palm Oil Business value chain and make them inclusive generating  workable synergy for your business start-up and growth. This is the step we re taking here.

Start Up Business Palm Oil 2019/2020 | Palm Oil Business Grant/Loan 2019/2020 Feasibility Study

As a matter of fact, these re essentials processes  for your Palm Oil Business Plan Start-up Cost Analysis and business plan questionnaire.  It’s a management tool that help you avoid business failure. Therefore, every business plan must ensure that this’s followed up and completed. 

In this article we offer you a good shoulder to lean on while making your  Palm Oil business plan. This is to ensure you make your profit, remain in business and be happy in life.

Palm Oil Business Plan Start-up

Cost Analysis Categories of  Business Start-up Cost:

Frankly speaking, We have also taken time to group these expenses in categories for easy identification and to avoid forgetting any item. You may decide to alter the arrangement to suite your particular business platform. Our concern is only for you to take practical action in this initial stage to forestall business strangulation and failure.

Furthermore, you have to put  quantity and cost on these items. Please remember that historical cost is more aceptable here. Other forms of business valuation – inputed costs or opportunity costs may come up later in the life time of the business. But for now, please stick to the historical cost/market purchased value of the items.

Start Up Business Palm Oil 2019/2020 | Palm Oil Business Grant/Loan 2019/2020 Feasibility Study

Statutory Cost:

To give your business a legal standing, you have to take up some legal registrations and updates.  Therefore, quantify and put value to these items. They re to be capitalised and amortised over some period of the business operations.

  1. Business Name Availability Check
  2. Business Registration
  3. Application for business license and permit .e.g. NAFDAC registration
  4. Health and Safety and Fire Safety Arrangement (License)
  5. Trade mark registration

Please delete what is not relevant and add relevant items that fits into your business.

Technical Costs:

Now ascertain the quantity and monetary value of these ones.

  1. Cost of conducting Feasibility Studies
  2. Writing of Business Plan
  3. Procurement of Equipment – equipment cost + cost of installations.
  4. Product designs and prototype testing

Some of these re also intangible assets that should be capitalised and amortised over some time.

Start Up Business Palm Oil 2019/2020 | Palm Oil Business Grant/Loan 2019/2020 Feasibility Study

Working Capital:

Frankly, a good estimate is necessary here. This part of your cost should be able to carry you on until you begin to generate revenue from the business.  If you make other arrangements but can not float the business, then you have done nothings. Therefore, this budget is very key to your Palm Oil business success.

  1. Stock of raw materials
  2. Stock of unfinished goods
  3. Stock-in-trade
  4. Cash in hand/bank

Palm Oil Business Plan Start-up Cost Analysis: Administrative Costs:

Here, too, you have to attach costs associated with doing these.

  1. Opening of Corporate Bank Accounts
  2. Securing Point of Sales (POS) Machines
  3. Opening Mobile Money Accounts
  4. Opening Online Payment Platforms
  5. Application and Obtaining Tax Payer’s ID
  6. Purchase of Insurance for the Business
  7. Leasing of  facility and renovating the facility
  8. Drafting of Employee’s Handbook
  9. Drafting of Contract Documents and other relevant Legal Documents

Further admin costs are:

  1. Design  Company’s Logo
  2. Graphic Designs and Printing of Packaging Marketing / Promotional Materials
  3. Recruitment of employees
  4. Purchase of the Needed furniture, racks, shelves, computers, electronic appliances & office appliances,
  5. Creating Official Website for the Company
  6. Creating Awareness for the business both online and around the community
  7. Opening party / launching party planning
  8. Establishing business relationship with vendors  wholesale suppliers / merchants of poultry products,
    Purchase of delivery truck.

Here, however, I have  merged both admin and marketing costs for convenience sake. At any rate, the size of your Palm Oil Business will determine the classes here. Therefore, you could have separately admin, personnel, marketing and accounting.

Sundry Expenses:

Please, ensure you put down something here to cover items you have forgotten and those you underestimated.

Start Up Business Palm Oil 2019/2020 | Palm Oil Business Grant/Loan 2019/2020 Feasibility Study

How may we help you in  some of these thing?

As a matter of fact, if this is your question now, you re welcome. We offer you shoulders to lean on. You therefore, have to be practical now in order to ensure your profit and happiness. We have a duty to  help you achieve this.

Complete Full Marks Consultants Limited  the owners of this website will help you out. CFMC Limited is a firm of Chartered Accountants, auditing, taxation and management consultants. We will help you register your business/company with CAC, handle your tax matters with FIRS or SIRS, Do your business plan, do your accounting, auditing  as external auditors or for your internal control management. Look, we will get your PENCOMITFNSITF compliance certificates for your contract bidding.

Start Up Business Palm Oil 2019/2020 | Palm Oil Business Grant/Loan 2019/2020 Feasibility Study

Contact us on [email protected] or call  +234 8034347851 for these assignments.

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