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Starting a Powder Coating Company – Sample Business Plan Template | ProfitableVenture
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Starting a Powder Coating Company – Sample Business Plan Template
Write a customer review. There was a problem filtering reviews right now. Please try again later. Haven't put it to use yet, but reviewed it and definitely will come in handy. Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers. Learn more about Amazon Giveaway. Innovative Over Coat, like Brudder Coating Systems, presents a detailed plan, with industry information that is helpful to anyone considering the powder coating business. Innovative Over Coat IOC will be the provider of choice in the Midwest for powder coating finishes for custom, refinish parts.
IOC will provide these finishes with superior quality and superior service. IOC will retain customers by providing custom colors and superior customer service. Powder coatings are the fastest growing sector of the paint industry; million pounds sold in to million pounds projected for the year Why is powder growing so quickly? There are three key reasons: Many individuals who are refinishing motorcycle, automobile and snowmobile parts are impressed with the appearance and durability of powder coatings. Innovative Over Coat intends to capitalize on this market opportunity.
The initial target market will be individuals who are located in Southeast Michigan and Northwest Ohio, and are rebuilding motorcycles, custom automobiles, boats and snowmobiles. Why will IOC initially target the refinish market? First, powder coating has a reputation for being a superior finish. Second, the individuals refinishing these "big boy toys" are committed to obtaining a superior finish.
A Sample Powder Coating Business Plan Template
Third, powder coating has a reputation for being environmentally friendly. The greening of America is driving individuals to search out ways to reduce environmental impact. They will prefer powder coating. This dealer is building custom motorcycles, and has committed to hiring Innovative to apply the paint to frame and metal parts.
A Sample Powder Coating Business Plan Template
As well as a high volume retail customer base, Linnfield Motorcycles is a high volume parts supplier and will provide Innovative with all of its after market powder coating business. What kind of parts will IOC be coating?
For motorcycles, frames, brackets, fenders, cylinders, and gas tanks. For custom automobiles, brackets, engine parts, and trim pieces. For snowmobiles, skis, frames and brackets. We have identified more than prospective customers in Michigan and Northwest Ohio. These customers include motorcycle dealers, motorcycle parts dealers, antique and custom automobile shops, and snowmobile dealers. These customers will buy services directly from Innovative, and refer customers to Innovative. There are not enough aquality applicators in the market place to support the growing demand for custom powder coating services.
There are 21 powder coating companies in Michigan and Northwest Ohio, but these companies are production shops serving the automotive market. We have identified one small company located in Sandusky, Ohio that is serving this market. The two partners forming this business have the breadth and depth of experience needed to succeed. John Godsey, President, has 16 years total experience, with eight of those years in management. Ike Walton, Vice President of Operations, has been working with the automotive industry for 22 years, and has been installing and operating powder coating systems since These two individuals make up the core of IOC, and cover the business needs essential for success.
IOC has developed financial projections for the first three years of operations. IOC is building the business in a manner that will be profitable almost immediately. IOC must obtain financing in order to start this company. IOC will accomplish this by providing powder coating application services of superior quality combined with superior service.
IOC will focus its marketing efforts on parts that require a quality finish. Innovative Over Coat, a Michigan S-Corporation, is a start-up venture that will provide custom powder coating finishing services for metal parts. IOC will provide custom coating services to customers who demand a finish that looks great and will last.
The coating must contain some form of solvent carrier that transfers the paint to the part being coated. The solvent carrier can be water or a chemical such as toluene or xylene. The solvent evaporates, leaving behind the thin film of coating. The coating must cure to form the final, hard finish. Curing can occur in one of several ways based on the formula: By contrast, a powder coating does not involve the use of any liquid.
A dry powder is electrostatically applied to the part, and then cured in a baking oven at a temperature of to degrees. There are no solvents to evaporate, eliminating all air emissions. There are no liquids required to clean equipment, eliminating all liquid waste generation.
Powder coatings have proven to be an efficient, economical, and ecologically sound method of industrial finishing. Generally, powders outperform liquids because of their higher molecular weight and greater insolubility; there is less film porosity with superior chemical resistance, toughness, hardness and abrasion resistance.
While this all sounds too good to be true, there has historically been one limitation to powder coatings. They could not match the visual performance of a liquid coating. This limitation was eliminated within the past few years, when powder coatings have been developed to match liquid coatings in all measures of performance. IOC has selected powder coating finishes because they are the finish of the future. Powder coating is the fastest growing segment of the coating industry.
Powder coating sales have nearly doubled since million pounds in to million pounds in , and are expected to nearly double again by the year Sales are projected to be million pounds by the year Powder coating sales have grown at the expense of other types of coatings, and manufacturers are converting from liquid coating to powder coating.
Liquid paint solvent borne and water borne will drop from 16 percent of the market in to 67 percent in Powder coating will increase from 15 percent in to 22 percent in The conversion from liquid to powder is happening for several reasons. First, it is environmentally friendly.
Powder coating causes no air emissions and produces no hazardous waste. Second, it is less expensive. Applying powder coating costs one tenth of the cost of the application of liquid coating. IOC has further evaluated the market by interviewing numerous powder coating users, and other experts in the field. Customers, paint manufacturers, and painting equipment manufacturers agree that there are few custom powder coaters in the Midwest who can consistently, and reliably apply powder coating to meet the demanding standards of our targeted market segment.
IOC will initially target the custom refinishing of motorcycle, automobile, and snowmobile parts. First, these individuals demand a high quality finish. Second, these individuals are willing to spend more money to get a high quality finish. Third, these individuals know that a powder coating finish is superior to a liquid coating finish in performance and look. Furthermore, IOC partners have an extensive network of contacts in the motorcycle industry. How will we get customers?
IOC will initially work through other companies to obtain business. We have identified more than companies in Michigan and Northwest Ohio: These companies can use our services directly and refer customers to Innovative. Sales will be accomplished only through internal resources. IOC is presently building a reputation with local Linnfield dealerships.
We will use this "word of mouth" advertising in combination with advertising in trade publications, trade shows and mailings to local dealerships. Linnfield is key to market entry. Linnfield is an established dealer of motorcycles and is a meeting place for the local Linnfield owner's club. As stated above, Linnfield wants IOC to paint all of their custom motorcycles.
They have already agreed to refer customers and other motorcycle dealers needing powder coating to IOC. IOC needs more than one customer to survive. Our research shows that there are not enough quality applicators in the market place to support the growing demand for powder coating services. Our research shows that the demand will continue to grow. Innovative Coating will position itself from day one to fulfill the needs of this market segment.
Innovative Coatings will compete in a marketplace that currently lacks service providers. We compiled a list of Midwest companies who apply powder coatings. Out of the twenty-one 21 competitors we found, ten are located in Northwest Ohio. Of these ten companies, only four 4 are custom powder coaters.
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The other companies are production powder coaters large production runs for the automotive industry. We'll make sure that every job is done right. IOC will exceed customer expectations. IOC will provide technical support when a problem arises, rapid response to customer demands, and flexible company hours. IOC has extensive application experience, and can work closely with the customer to develop cost effective techniques to insure the highest quality finishes.
People who want to buy a new Linnfield motorcycle are willing to wait two to three years before taking delivery. This is the commitment to owning one of "America's premiere" motorcycles.