Do you want to start a laser cutting business? here is an example of a complete feasibility study of a laser cutting business plan template that you can use for FREE .
Ok, so we’ve covered all the requirements for starting a laser cutting business. We also took it a step further by analyzing and writing a sample laser cutting marketing plan template backed by actionable guerrilla marketing ideas for laser cutting companies. So let’s move on to the business planning section.
Why start a laser cutting business?
A prolific and fast growing business with a budding entrepreneur with experience in laser technology can start the laser cutting business. If you are intending to start your own laser cutting business, then you need to master this craft because the truth is that in order to be successful in this business you just need someone with the technical skills.
What you need to install in another to successfully launch this business are machinery and equipment, a good knowledge of the different models, the laws that define the industry, as well as strong entrepreneurial skills and strong determination.
If you want to start a laser cutting business, you must be prepared to conduct a thorough feasibility study and market research before committing your money and other resources to it. Along with a detailed feasibility study and market overview, one of the important documents that will help a business succeed is a good, achievable business plan.
If you are looking to start a laser cutting business, you should consider this business plan that will help you successfully launch yours.
Sample laser cutting business plan template
- Industry overview
Laser cutting technology is a technology that uses a laser to cut materials and is commonly used for industrial production. Industrial laser cutters are used to cut flat sheet materials, as well as structural and piping materials, in fact, schools, small businesses and hobbyists are well versed in laser cutting technology. Laser cutting works by directing the output of a high power laser, most often through optics.
The laser cutting industry has found itself at the height of the global economy over the past five years. However, the industry is expected to experience a less volatile period in the five years to 2021 as fluctuations in metal prices decrease.
If you carefully follow the trends in laser cutting and of course all others in the field of laser technology, you will find that industry players are trying to locate their workshops close to customers in order to reduce shipping costs. and turnaround times. This is one of the main reasons why you can easily find laser cutting factories located at industrial sites.
There is no doubt that the laser cutting industry has remained the same, and much of it is supported by environmentalists and the government. In addition, the laser cutting industry is very open to any budding entrepreneur who has acquired the training, skills, tools and possibly the professional certifications needed to start their own business.
Company laser cutting summary plan
Precision® Laser Cutting Technology, LLC is a standard laser cutting technology company based in Fargo Moorhead, North Dakota. We were able to secure standard offices in the central industrial area of Fargo Moorhead – North Dakota. We are a laser cutting company that intends to compete in a highly competitive North Dakota industry.
Precision® Laser Cutting Technology, LLC will use a variety of laser cutting methods, with different types being used for cutting in different ways. materials. Some of the techniques we will be using are vaporization, smelting and blowing, melting, blowing and exhausting, thermal stress cracking, scribing, cold cutting, and flame stabilized laser cutting.
Our business goal is to become one of the leading laser cutting companies in the United States, and we will do our best to compete profitably with the industry leaders.
Our employees will be selected from certified laser cutters in and around Fargo Moorhead and any part of the United States of America as the business grows. We will ensure that all our employees receive the necessary training to enable them to meet the company’s expectations.
At Precision® Laser Cutting Technology, LLC, our customers will always come first, and everything we do will be guided by our values and professional ethics. We will deliver on our responsibility to the highest standards by accurately and completely meeting the needs of our customers.
Precision® Laser Cutting Technology, LLC was founded by Sky Morgan, a distinguished engineer who graduated from the Illinois Institute of Technology (B. Engr.). He has over 7 years of hands-on experience which can help Precision® Laser Cutting Technology, LLC successfully compete with other major US laser cutting companies.
- Our products and services
Precision® Laser Cutting Technology, LLC is created with the goal of maximizing the industry’s bottom line. We want to compete profitably with other businesses in the United States, which is why we only have one knowledgeable team that will ensure that every related job or service we perform meets or exceeds our customers’ expectations.
Our products and services are mainly different cutting methods using lasers, with different types used to cut different materials. Here are some of the methods we will use:
- melt and blow
- impact and burn fusion
- thermal stress cracking
- Cold cutting
- Flame stabilized laser cutting
Our vision is to create a standard laser cutting business whose services and branding will be accepted not only in Fargo Moorhead – North Dakota, but other cities in the United States of America as well.
- Our mission statement
Our mission is to provide professional laser cutting technology services to help manufacturing companies, individuals, households and organizations ensure that any metal or solid they cut or design is always in good condition and very presentable. We want to create a laser cutting company that can compete favorably with other big brands in the industry.
- Our corporate structure
Precision® Laser Cutting Technology, LLC, is a company that plans to start small in Fargo Moorhead, North Dakota, but hopes to grow further. We recognize the importance of building a strong business structure that can support the image of the world-class business we want to own.
At Precision® Laser Cutting Technology, LLC, we’ll hire skilled, hardworking, creative, customer-focused, and willing to work clients to help us build a successful business that benefits all stakeholders.
In fact, the incentive arrangement will be available to all of our senior executives and will be based on their performance for five years or more, as agreed by the board of directors of the company. In view of the above, we have decided to recruit qualified and competent people to fill the following positions:
- General manager
- Head of technical support (specialist in laser cutting technology)
- HR Manager and Administrators
- Head of Sales and Marketing
- Laser Cutting Technicians (10)
- Customer Service Manager
Roles and responsibilities
Managing Director Managing Director:
- Improves management efficiency by recruiting, selecting, orienting, training, coaching, consulting and disciplining managers; transfer values, strategies and goals; distribution of responsibilities; plan, monitor, evaluate performance and develop incentives
- Responsible for business management
- Responsible for signing checks and documents on behalf of the company
- Measures the success of the organization
Responsible for technical support (Expert in laser cutting technology):
- performs ancillary tasks by drawing up plans, budgets and measurement results; allocation of resources; review of progress; mid-term corrections.
- Maintains quality service by establishing and enforcing organizational standards.
- Ensures the laser cutting technology department operates efficiently, coordinates employee efforts, and facilitates communication between management and technicians.
- Ensures that the organization operates in accordance with international best practices in laser cutting technology. …
Administrator and HR manager
- Responsible for overseeing the proper execution of staff and administrative tasks in the organization
- maintains office supplies by checking inventory; place and expedite orders; evaluation of new products.
- Ensures the operation of equipment by meeting preventive maintenance requirements; call for repair.
- Identifies the jobs to be recruited and manages the interview process
- Carry out the inductions of new team members
- Responsible for the training, evaluation and evaluation of employees.
- Responsible for organizing trips, meetings and appointments
- Monitors the proper functioning of the office.
Head of sales and marketing
- Manages external research and coordinates all internal sources of information to retain the best customers of the organization and attract new ones
- Identifies development opportunities; monitors relations with developers and contacts
- Drafts winning documents, negotiates fees and rates in accordance with organization policy
- Develops, implements and evaluates new plans to increase sales
- Creates new markets for companies to organize
- Empowers the sales team to meet and exceed agreed targets
Accountant / Cashier:
- Responsible for the preparation of the financial statements, budgets and financial statements of the organization
- Provides management with financial analyzes, development budgets and accounting reports
- Responsible for financial forecasts and risk analysis.
- Manages cash management, accounting and financial reporting for one or more objects.
- Responsible for the development and management of financial systems and policies
- Payroll manager
- Application of tax laws
- Manages all financial transactions for Precision® Laser Cutting Technology, LLC
- Serves as internal auditor for Precision® Laser Cutting Technology, LLC.
Laser cutting techniques
- Responsible for the implementation of various methods such as vaporizing, melting and blowing, melting and blowing, heat treatment stress cracking, plotting, cold cutting and stabilized laser engraving during cutting cutting with lasers, different types are used to cut different materials.
- Work with customers to meet their cut and design expectations for any metal or material.
- Works with all other laser cutting technology related services as directed by the laser cutting technical support manager.
Customer Service Manager
- greets clients and potential clients by greeting them in person or by telephone; respond to or direct requests.
- Ensures that all customer contacts (email, built-in hub, SMS or phone) provide the customer with a personalized customer service experience of the highest level
- By interacting with customers over the phone, he takes every opportunity to increase customer interest in the company’s products and services.
- Efficiently and timely allocates administrative responsibilities entrusted to the Creative Director
- Keep up to date with any new information on organizations’ products, advertising campaigns, etc. to ensure that accurate and useful information is provided to customers when they request it.
SWOT analysis of laser cutting business plan
We are well aware that there are several laser cutting technology companies in USA, so we go through the proper business formation process to compete with them. We know that if the proper SWOT analysis is performed for our business, we can position our business to maximize our strength, seize the opportunities we have, reduce our risks, and be prepared to face our threats.
Precision® Laser Cutting Technology, LLC has utilized the services of a professional consulting and structuring firm to help our organization build a well-structured laser cutting technology business that can compete favorably in the highly competitive laser cutting. industry in the United States.
Below is a summary of the results of a SWOT analysis performed on behalf of Precision® Laser Cutting Technology, LLC;
Our main strength lies in the strength of our team; our workforce. We have a team of certified and highly skilled technicians in various niche industries. In addition to the synergies that exist within our carefully selected workforce, our services will be based on the world’s best laser cutting practices.
As a new laser cutting business in Fargo Moorhead, North Dakota, it might take a while. an organization to enter the market and gain recognition in an already saturated and highly competitive industry; this is perhaps our greatest weakness. Another downside is that we may not have the funds to promote our business the way we would like.
The opportunities in the laser cutting services industry are huge given the number of metal related companies that cannot run their business without the help of professional laser cutting experts. As a laser cutting company, we are ready to seize any opportunity in the industry.
As with any business, one of the biggest threats we are likely to face is the economic downturn. It is a fact that an economic downturn affects purchasing power / purchasing power. Another threat that we may face is the emergence of a new laser cutting company in the same location as our target market that might want to adopt the same business model as us.
Business plan for laser cutting MARKET ANALYSIS
- Market trends
It is important to note that technology and global trends play an important role in the laser cutting industry, and the primary goal of players in this industry is to maximize return on investment. Scanning devices are used to produce a 3D computer model from a rough stone. In addition, the inclusions are photographed and placed in a 3D model, which is then used to find the optimal way to cut the rough “stone”.
Another trend is that the laser cutting industry has accelerated considerably in recent years. due to the rapid technological development of our world and an increasing number of metal and material manufacturers who will naturally use laser technology in cutting and designing. The demand for laser cutting technology is expected to continue to grow in the years to come.
Finally, the laser cutting technologies industry will continue to be dominated by operators who have succeeded in positioning their business in cities known for this profession or in places considered to be industrial centers.
- our target market
Prior to starting our laser cutting technology business in Fargo-Moorhead – North Dakota, we conducted market research and feasibility studies and believe that there is a wide range of clients who cannot complete their operations without the services of laser cutting companies. Below is a list of people and organizations to whom we will offer our services;
- Manufacturing companies that require the design and cutting of metals and other hard materials
- Companies / companies that are engaged in the mining of diamonds and other precious stones
- Diamond retail entrepreneurs and start-ups
Our competitive advantage
To survive in the business world as a laser cutting company, it takes more than your experience, your ability to supply standard cut metals and solids, and your ability to communicate with key people; decision makers who can decide who will get the laser cutting contract.
Without a shadow of a doubt, there are many large investors who have a stake in the industry; but one thing is certain, there is enough space to accommodate everyone.
We understand that being highly competitive in the industry means you are expected to do more than stable, highly reliable cut metals and carbides. materials, but you should be able to achieve your goals. Nobody wants to continue using your services if you don’t always meet the deadline for completing projects.
Our competitive advantage lies in the strength of our team; our workforce. We have a team of certified and highly skilled technicians with excellent qualifications and experience in various niche areas in the laser cutting industry.In addition to the synergies that exist in our carefully selected workforce, our services will be based on the best laser cutting services in the world.
Finally, all of our employees will be well taken care of and their wellness package will be one of the best in our category in the industry. This will allow them to be more than willing to build a business with us and help them achieve their goals and all of our business goals and objectives.
Laser cutting business plan SALES AND MARKETING STRATEGY
We are aware of the competitions being held in the laser cutting industry, so we were able to hire the best marketers to handle our sales and marketing.
Our sales and marketing team will be recruited on the basis of their extensive industry experience and will receive regular training to be able to achieve their goals and the overall business objective of Precision® Laser Cutting Technology, LLC.
Our corporate goal is to develop Precision® Laser Cutting Technology, LLC to become one of the top 10 laser cutting brands in the United States of America, so we have developed strategies to help us take advantage of the market, Precision® Laser Cutting Technology, LLC intends to leverage the following marketing and sales strategies to attract customers:
- Introduce our laser cutting business by sending cover letters along with our brochure to manufacturing companies dealing with gemstones, metals and hard materials, as well as key stakeholders in the United States of America.
- Quick tender for laser cutting contracts with large diamond mines and traders
- Promote our business in trade magazines, newspapers, TV and radio stations.
- List our activities in the yellow pages classifieds (in local directories)
- Attend relevant international and local exhibitions, seminars and trade fairs, etc.
- Create different packages for different categories of customers to work within their budgets while providing excellent service.
- Internet leverage to promote our business
- Take a direct marketing approach
- Encourage marketing work from loyal customers
Source of income
Precision® Laser Cutting Technology, LLC was established with the goal of maximizing profits for the industry, and we will do everything to ensure that we are doing the right things and what is permitted by US law to meet and exceed the expectations of all our customers.
Precision® Laser Cutting Technology, LLC will generate revenue by providing the following laser cutting technology services:
- Merger and impact
- Melt and burn
- Thermal stress cracking
- Cold cutting
- Flame stabilized laser cutting
One thing is for sure, there will always be solid metal-related diamond and mineral companies that need the services of laser cutting companies. …
We are well positioned to enter the available market in the industry and are very optimistic that we will achieve our goal of generating sufficient revenue / profit in the first six months of operation and expanding our business to profitability. .
We have been able to critically study the laser cutting services market, analyze our chances in the industry, and make the following sales forecast. Below are the sales forecasts for Precision® Laser Cutting Technology, LLC; it is based on the location of our company, our wide range of services and the target market;
- First year: $ 250,000
- Second fiscal year: $ 450,000
- Third fiscal year: $ 1.2 million
NB : This prediction was made on the basis of what is available in the industry and with the assumption that there will be no major economic downturn and that there will be no major competitor offering the same laser cutting technology services as us. At the same location. Please note that the above predictions may be lower and at the same time higher.
- Our pricing strategy
At Precision® Laser Cutting Technology, LLC, we will keep the prices for our laser cutting services below the market average, keeping our overhead costs low and taking prepayment from the organizations that will hire our services. In addition, we will also offer special discounts to all of our customers on a regular basis.
- Payment options
Payment Policy Precision® Laser Cutting Technology, LLC takes a holistic approach because we are well aware that different customers prefer different payment methods based on their preferences, but at the same time, we will make sure to comply with US financial rules and regulations. America Here are the payment methods that Precision® Laser Cutting Technology, LLC will provide to its customers;
- Payment by bank transfer
- Cash payment
- Payment via POS
- Payment via the mobile money platform
- Online bank transfer payment
- Payment by check
In view of the above, we have selected banking platforms that will allow our clients to pay for our services without any stress on their part. Our bank account numbers will be available on our website and in promotional materials.
Laser cutting business plan and advertising strategy
Although our laser cutting technology business is well located, we will continue to increase our advertising for the business. Precision® Laser Cutting Technology, LLC has a long term plan to welcome customers from all over the world, so we will be deliberately building our brand to be well received in Fargo Moorhead – North Dakota before we take the risk.
In fact, our advertising and advertising strategy is aimed not only at reaching customers, but also at effectively promoting our brand across the United States of America. These are the platforms that we intend to use to promote and promote Precision® laser cutting technology, LLC;
- Placement of advertisements in public newspapers, radio and television channels.
- Encourage word of mouth from our loyal customers
- Leverage on the Internet and social networks like; YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business.
- Be sure to place our banners and billboards in strategic positions throughout Fargo Moorhead – North Dakota
- Distribute our leaflets and leaflets to targeted areas of our region and its surroundings
- Promote our laser cutting technology business on our official website and apply strategies that will help us drive traffic to the site
- Label all of our official cars and vans and make sure all of our employees regularly wear our branded shirt or cap.
Laser cutting business plan Financial projections and costs
As a result of our due diligence, we are required to establish Precision® Laser Cutting Technology, LLC in the United States of America;
- The costs of business combination in the United States of America will cost $ 750 .
- The budget for liability insurance, permits and licenses will cost $ 3,500
- The purchase of a workshop, which will house the number of employees for at least 6 months (including the renovation of the facility) will cost $ 100,000.
- Amount required to purchase materials and equipment for laser cutting, $ 25,000
- Office equipment (computers, printers, projectors, internet equipment, furniture, telephones, filing cabinets and electronics) will cost $ 30,000
- The amount required to purchase the software applications necessary for our business $ 3,500
- the launch of the official website will cost $ 500
- the amount required to pay bills and employees for at least 2 to 3 months $ 70,000
- additional expenses such as business cards, signage, advertisements and promotions will cost $ 5,000
According to the market research and feasibility report, we would need about 250 000 $ US ( 250 000 $ US ) to establish a successful business of midsize laser cutting standard but in the United States. America.
Creation of seed capital for Precision® Laser Cutting Technology, LLC
No matter how fancy your business idea is, if you don’t have the money to fund the business, the business may not become a reality. Funding is a very important factor when it comes to starting a laser cutting business.
Precision® Laser Cutting Technology, LLC is a business to be owned and operated by Engr. Clement Knox and his closest relatives. They are the sole financier of the business, so they decided to limit the sources of business start-up capital to three main sources.
- Receive part of the start-up capital from personal savings and sell your shares
- Obtain start-up capital from friends and other extended family
- Creation of most of the bank’s start-up capital (line of credit).
NB . We have been successful in securing approximately $ 100,000 ( personal savings $ 70,000 and family members preferential loan $ 30,000 ( )), and we are in the final stages of securing a loan of $ 150,000 from our bank. duly signed and submitted, the loan has been approved and will be credited to our account at all times.
LASER CUTTING OF BUSINESS GROWTH: A strategy for sustainable development and expansion
The future of a business lies in the number of loyal customers it has, as well as the opportunities and its people, their investment strategy and the structure of the business. If all of these factors are missing from the business, the business will close the store shortly thereafter.
One of our main goals in starting Precision® Laser Cutting Technology, LLC is to start a business. which will survive on its own cash flow without needing to inject funds from external sources after the official launch of the business.
We know that one way to gain approval and attract customers is to offer our services a little less than what is available in the market, and so that our laser cutting materials can compete favorably with the materials of laser cutting any part. of the world, and we are prepared to survive at a lower profit level for a while.
Precision® Laser Cutting Technology, LLC will ensure that the proper foundations, designs and processes are in place to ensure the well-being of our people. Our corporate culture aims to take our business to the next level, and the training and retraining of our employees is at the top.
We know that if this is done we can be successful in recruiting and keeping the best hands we can get in the industry; they will be more committed to helping us build our dream business.
Checklist / checklist
- Company name availability check: complete
- Business registration: complete
- Opening of corporate bank accounts: complete
- Launch of online payment platforms: complete
- Application and obtaining of the tax identification number: in progress
- Last provision of a standard office space for our company: Completed
- Business license and permit application: Completed
- Purchasing business insurance: complete
- Feasibility studies: Completed
- Receive part of the start-up capital from the founders: Completed
- Business plan writing: Completed
- Compilation of employee handbook: complete
- Drafting of contractual documents: B Execution
- Development of a logo for the company: Completed
- Procurement of tools and equipment for repair and installation: complete
- Advertising printing: finished
- Recruitment: in progress
- Purchase of laser cutting equipment / machines: Completed
- Purchase of furniture, office equipment, software, electronic devices and reconstruction of the object: in progress
- Creation of an official business website: in progress
- Creation of information for companies: developing
- Health and safety conditions and fire safety: in progress
- Establish business relationships with suppliers and major players in the laser cutting industry. technological industries: ongoing