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Herbal Medicine Products Business Plan (Sample Template For 2021)

Business plan

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100% found this document useful (3 votes)
3K views17 pages

Herbal Medicine Products Business Plan (Sample Template For 2021)

Business plan

Uploaded by

Redwan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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How to Write a Herbal Medicine Products


Business Plan [Sample Template]

Are you about starting a herbal medicine company? If YES, here is a


complete sample herbal medicine products business plan template &
feasibility report you can use for FREE. Okay, so we have considered all the
requirements for starting a herbal medicine business. We also took it
further by analyzing and drafting a sample herbal medicine products
marketing plan template backed up by actionable guerrilla marketing ideas
for herbal medicine companies. So let’s proceed to the business planning
section.

Table of Content [show]

Why Start a Herbal Medicine Business?


If you are interested in leveraging on the existing love for herbal products,
then you should consider starting an herbal medicine production company.
The fact that people are interested in taking less chemical or non-chemical
medications made from plants makes this type of business a viable and
pro table one.

Herbal medicine is one commodity that is useful in all parts of the world
and of course those that are in the business of producing herbal medicines
and related supplements, are known to generate sales repeatedly if the
business is properly managed. Again, economic downturn hardly a ects
the consumption of herbal medicine and teas because it is a healthy
substitute for chemical based medications.

If you want to start this business, then you should conduct your market
research and feasibility studies (https://www.pro tableventure.com/steps-
write-feasibility-study-report/). You also need to write a good business plan
(https://www.pro tableventure.com/guide-writing-business-plan/) that
would help you raise your seed capital, set up the business, sort out tax
and market your products.

The truth is that it is one thing to have a fantastic idea cum business plan,
but another thing for the business plan to translate to pro ts, which is why
it is important to assemble a team of experts to work with if you want to be
successful with your herbal medicine business. Below is a sample herbal
medicine products business plan template that will help you successfully
write yours.

A Sample Herbal Medicine Products Business Plan


Template
1. Industry Overview
Companies in the herbal medicine industry are known to blend and
package plant infusions made from leaf, root, fruit or ower that comes
from a plant other than the tea plant. They also produce herbal and
nutritional supplements. Please note that this industry does not include
iced and ready-to-drink herbal teas.

If you are a close observer of happenings in the Herbal Medicine and Tea
Production industry, you will agree that the industry has contracted over
the past ve years. Despite positive consumer trends, including a rise in
health consciousness, the industry faltered at the start of the period due to
decline in general tea consumption.

Nonetheless, rising awareness surrounding the health bene ts of herbal


tea and the improving economy have bolstered demand for the industry in
the latter half of the period.
Consistent demand from the aging population is partly attributable to
intense marketing on the part of industry operators in an e ort to boost
awareness about the health bene ts of herbal teas. The industry is
expected to grow over the next ve years. Continuing health trends and
the aging population will boost domestic demand.

Statistics has it that in the world, there are about 227 licensed and
registered herbal medicine and tea production companies directly
responsible for employing about 1,018 employees. The industry rakes in a
whooping sum of $595 billion annually with an annual growth rate
projected at -2.3 percent between 2012 and 2017. It is important to state
that Bigelow, Hain Celestial Group and Unilever are the establishments
with the lion shares of the market in this industry.

A recent reports published by IBISWorld shows that the Herbal Medicine


and Tea Production industry has a medium to high level of market share
concentration. In 2017, the top four companies in the industry are
expected to generate 70.7 percent of the industry’s revenue. Furthermore,
the top two companies in the industry, Unilever Group and Hain Celestial
Group Inc., account for 50.8 percent of the industry’s revenue.

Market share concentration has declined slightly over the past ve years as
smaller players have entered the industry. In 2017, IBISWorld estimates
there will be 225 producers operating in this industry. The product lines of
the major brands, such as Lipton and Celestial Seasonings, typically
comprise high-volume branded products.

Lastly, if you are looking towards leveraging on the shift in medications and
treatments to generate huge income, then one of your best bet is to start a
herbal medicine and tea production company. One thing is certain about
starting your herbal medicine and tea production business, if you are able
to conduct your market research and feasibility studies, you are more likely
not going to struggle to sell your products because there are consumers
out there who are ready to buy from you.

2. Executive Summary
Nature© Herbal Medicine Production, Inc. is a licensed herbal medicine
and tea production company that will engage in the production of varieties
of herbal medicine and tea and it will be based in Altoona – Pennsylvania.

Because of our corporate business goal of becoming one of the top 3


herbal medicine production companies in the united states
(https://www.pro tableventure.com/business-ideas-united-states/) of
America, we are willing to invest in some of the nest professionals we can
nd and also we have set plans in place to acquire the best of equipment
when it comes to setting up a standard herbal company.

Our facility will be customized to t into the kind of ideas we have of how a
rst class herbal company should look like and we have been able to
secure permits from all relevant departments in Pennsylvania.

Nature© Herbal Medicine Production, Inc. is set to rede ne how herbal


medicine and tea production business should be run, not just in Altoona –
Pennsylvania, but also in the whole of the United States of America. This is
why we have put plans in place for continuous training of all our sta and
also liaising with stake holder in the industry to contribute our quotas in
the way equipment should be designed to meet the ever changing
demands of the industry.

The demand for herbal medicine and tea is not going to plummet any time
soon, which is why we have put plans in place to continue to explore all
available markets around the cities where we intend retailing our products.
Our strongest selling point at Nature© Herbal Medicine Production, Inc. is
the unique taste of our products. There is hardly any customer that will
make use of our products who would not want to come back and make
more purchase.

Nature© Herbal Medicine Production, Inc. will at all times demonstrate her
commitment to sustainability, both individually and as a rm, 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.

Nature© Herbal Medicine Production, Inc. is a family business that is


owned and managed by Alison Wester and his immediate family member.
Alison Wester is going to be the Chief Executive O cer of the business, he
has a rst Degree in Pharmacy and an MBA from Harvard Business School.
He has over 12 years’ experience working as a pharmacist and medical
researcher in one of the leading pharmaceutical production companies in
the United States of America.

3. Our Products and Services


At Nature© Herbal Medicine Production, Inc. we will engage in the
following activities in order to maximize pro ts
(https://www.pro tableventure.com/invest-in-your-business/) for the
business;

Importing herbs
Blending herbs
Packaging herbal teas and medicinal teas such as Rooibos tea, Mate tea,
Chamomile tea, Senna tea, Ginger tea and other herbal teas

4. Our Mission and Vision Statement


To be amongst the top 3 leading herbal medicine and tea production
companies in the United States of America before our 10th anniversary.
To build an herbal medicine and tea production company whose products
will cure the sicknesses it is been used for and to ensure that our brand
becomes a household name all across the United States of America.

Our Business Structure

As part of our plan to build a top ight herbal medicine and tea production
business in Altoona – Pennsylvania, we have perfected plans to get it right
from the onset which is why we are going the extra mile to ensure that we
have competent employees to occupy all the available positions in our
company.

We will ensure that we only hire people that are quali ed, honest,
hardworking, customer centric and are ready to work to help us build a
prosperous business that will bene t all our stake holders. As a matter of
fact, pro t-sharing arrangement will be made available to all our senior
management sta and it will be based on their performance for a period of
ten years or more depending how fast we meet our set target.

The picture of the kind of herbal medicine and tea production business we
intend building and the goals we want to achieve is what informed the
amount we are ready to pay for the best hands in the industry as long as
they are willing to work with us.

Below is the business structure that we will build Nature© Herbal Medicine
Production, Inc.;

Chief Executive O cer (Owner)


Plant Manager
Human Resources and Admin Manager
Merchandize Manager
Sales and Marketing Manager
Accountants / Cashiers
Cleaners

5. Job Roles and Responsibilities


Chief Executive O cer – CEO (Owner):

Increases management’s e ectiveness 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 xing 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

Plant Manager

Responsible for overseeing the smooth running of the herbal medicine and
tea production plant
Part of the team that determines the quantity and avors of herbal
medicine and tea that are to be produced
Maps out strategies that will lead to e ciency amongst workers in the
plant
Responsible for training, evaluation and assessment of plant workers
Ensures that the steady ow of both raw materials to the plant and easy
ow of nished products through wholesale distributors to the market
Ensures operation of equipment by completing preventive maintenance
requirements; calling for repairs.
Ensures that the plant meets the expected safety and health standard at all
times.

Human Resources and Admin Manager

Responsible for overseeing the smooth running of HR and administrative


tasks for the organization
De ning job positions for recruitment and managing interviewing process
Carrying out induction for new team members
Responsible for training, evaluation and assessment of employees
Oversee the smooth running of the daily o ce and factory activities.

Merchandize Manager

Manages vendor relations, market visits, and the ongoing education and
development of the organizations’ buying teams
Helps to ensure consistent quality of herbs and other raw material used in
the production of herbal medicine and tea
Responsible for the purchase of raw materials and packaging materials
(bottles, and plastics et al)
Responsible for planning sales, monitoring inventory, selecting the
merchandise, and writing and pricing orders to vendors

Sales and Marketing Manager

Manages external research and coordinates all the internal sources of


information to retain the organizations’ best customers and attract new
ones
Identify, prioritize, and reach out to new partners, and business
opportunities et al
Responsible for supervising implementation, advocate for the customer’s
needs, and communicate with clients
Develops, executes and evaluates new plans for expanding sales
Documents all customer contact and information
Represents the company in strategic meetings
Helps increase sales and growth for the company

Accountant/Cashier

Responsible for preparing nancial reports, budgets, and nancial


statements for the organization
Provides management with nancial analyses, development budgets, and
accounting reports
Responsible for nancial forecasting and risks analysis.
Performs cash management, general ledger accounting, and nancial
reporting
Responsible for developing and managing nancial systems and policies
Responsible for administering payrolls
Ensures compliance with taxation legislation
Handles all nancial transactions for the organization
Serves as internal auditor for the organization

Client Service Executive

Ensures that all contacts with customer (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
Manages administrative duties assigned by the store manager in an
e ective and timely manner
Consistently stays abreast of any new information on the company’s
products, promotional campaigns etc. to ensure accurate and helpful
information is supplied to clients when they make enquiries

Production Workers/Machine Operators:

Responsible for blending and packaging herbal medicine and teas


Handles labeling of bottled herbal products
Responsible for mixing, pressing and encapsulating raw herbs ingredients
into pill or tablet form.
Operates herbal medicine and tea production machines
Assists in packaging and loading bottled herbal medicine and teas into
distribution trucks
Any other duty as assigned by the plant manager.

Distribution Truck Drivers

Assists in loading and unloading bottled herbal medicine and teas


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
Local-delivery drivers may be required to sell products to stores on their
route, obtain signatures from recipients and collect cash.
Transport nished goods and raw materials over land to and from
manufacturing plants or retail and distribution centers
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
We want to build a top ight herbal medicine and tea production company
hence, we were able to engage some of the nest business consultants in
Altoona – Pennsylvania to look through our business concept and together
we were able to examine the prospect of the business and be sure we have
what it takes to run a standard herbal medicine and tea production
company that can compete favorably in the industry.

In view of that, we were able to take stock of our strengths, our weakness,
our opportunities and also the threats that we are likely going to be
exposed to in Altoona – Pennsylvania and even in the United States of
America as a whole. Here is a of what we got from the conducted SWOT
Analysis for Nature© Herbal Medicine Production, Inc.;

Strength:

When it comes to strength as a company, we have a wide range of herbal


medicines and teas for di erent ailments that can meet the needs of a
wide range of consumers. We have state of the art facility and equipment
that has positioned us to meet the demand of products even if the demand
tripled over night.
Another factor that counts to our advantage is the background of our Chief
Executive O ce; he has a robust experience in the industry and also a
pretty good academic quali cation to match the experience acquired which
has placed him amongst the top professionals in the United States of
America.

Weakness:

The fact that we are setting up an herbal medicine and tea production
business in a city with other herbal companies and importers might likely
pose a challenge for us in breaking into the already saturated market in
Altoona – Pennsylvania. In essence our chosen location might be our
weakness. But nevertheless, we have plans to launch out with a big bang.

Opportunities:

Mainstream retailers are progressively stocking herbal teas as consumer


demand heightens. Aggressive media promotion has supported belief in
the health bene ts of herbal medicine and tea consumption, and the aging
population and rising per capita tea consumption will contribute to growth.

Hence the opportunities available to us are unlimited. Loads of people


consume herbal medicine and herbal tea on a daily basis and all what we
are going to do to push our products to them is already perfected.

Threat:

The threat that is likely going to confront us is the fact that we are
competing with already established herbal companies in Altoona –
Pennsylvania and also there are other entrepreneurs who are likely going
to launch similar business within the location of our business.

Of course, they will compete with us in winning over the available market.
Another threat that we are likely going to face, is unfavorable government
policies (https://www.pro tableventure.com/regulation-policies-hurt-
business/) especially as it relates to the importation of herbal medicine and
teas into the United States of America.

7. MARKET ANALYSIS
Market Trends

If you are conversant on happenings as it relates to medications, you will


agree that in recent time, loads of people are beginning to switch from
conventional medicine to herbal medicine because of the health bene ts.
As a matter of fact, the sale of herbal medicines and teas has increased
tremendously.

The industry has grown steadily over the last ve years as herbal
companies have adapted to the rapidly changing consumer preference and
lifestyle. External factors such as per capita herbal medicine and tea
consumption and per capita disposable income will impact industry’s
performance.

8. Our Target Market


When it comes to the sale of herbal medicine and tea, there is indeed a
wide range of available customers. In essence, our target market can’t be
restricted to just a group of people, but all those who love non-
conventional medicine and those who would want to try them out. We are
in business to produce herbal medicine and tea for the following groups of
people;

Households
Corporate Executives
Sports Men and Women
Everyone who resides in our target locations.

Our competitive advantage (https://www.pro tableventure.com/example-


companies-competitive-advantage/)

Part of what is going to count as competitive advantage for Nature© Herbal


Medicine Production, Inc. are supply contracts, ability to alter goods and
services produced in favor of market conditions and of course economies
of scale. We are not ignoring the vast experience of our management team,
we have people on board who are highly experienced in the business.

So also the varieties of herbal medicine and tea avors that we produce,
our large distribution network and of course our excellent customer service
culture will de nitely count as a strong strength for the business.

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

Nature© Herbal Medicine Production, Inc. is established with the aim of


maximizing pro ts in the industry and we are going to go all the way to
ensure that we do all it takes to sell our products to a wide range of
customers. That is where we intend generating income for the business.

10. Sales Forecast


We are well positioned to take on the available market in Altoona –
Pennsylvania and every city where our herbal medicine and tea will be sold
and we are quite optimistic that we will meet our set target of generating
enough pro ts from our rst six months of operation and grow the
business and our clientele base.
We have been able to examine the herbal medicine and tea production
industry, we have analyzed our chances in the industry and we have been
able to come up with the following sales forecast. Below is the sales
projection for Nature© Herbal Medicine Production, Inc., it is based on the
location of our business and other factors as it relates to medium scale
herbal medicine startups in the United States;

First Fiscal Year: $250,000


Second Fiscal Year: $450,000
Third Fiscal Year: $750,000

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 o ering same
products 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

Prior to choosing a location for Nature© Herbal Medicine Production, Inc.


we conducted a thorough market survey and feasibility studies in order for
us to be able to penetrate the available market in the cities where we
intend positioning our business.

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 and also for our products to favorable compete with other
leading herbal medicine and tea brands.

We hired experts who have good understanding of the industry to help us


develop marketing strategies
(https://www.pro tableventure.com/e ective-marketing-strategies/) that
will help us achieve our business goal of winning a larger percentage of the
available market in Altoona – Pennsylvania and throughout the United
States of America.

In summary, Nature© Herbal Medicine Production, Inc. will adopt the


following sales and marketing approach to sell our products;

Introduce our herbal medicine and tea brand by sending introductory


letters to residents, merchants and other stakeholders both in Altoona –
Pennsylvania.
Open our business with a party so as to capture the attention of residents
who are our rst targets
Engage in roadshows in targeted communities from time to time to sell and
promote our products
Advertise our products in community based newspapers, local TV and radio
stations
List our business and products on yellow pages’ ads (local directories)
Leverage on the internet to promote our herbal medicine and tea brands
Engage in direct marketing and sales
Encourage the use of Word of mouth marketing (referrals)

11. Publicity and Advertising Strategy


Despite the fact that our company is a standard one with a wide range of
herbal medicine and tea that can favorably compete with other leading
brands in the United States, we will still go ahead to intensify publicity for
all our products and brand.

Nature© Herbal Medicine Production, Inc. has a long term plan of opening
outlets in various locations all around the United States of America and
also to sell our franchise which is why we will deliberately build our brand
to be well accepted in Altoona – Pennsylvania before venturing out to other
cities in the United States of America.

Here are the platforms we intend leveraging on to promote and advertise


Nature© Herbal Medicine Production, Inc.;

Place adverts on both print (community based newspapers and health


magazines) and electronic media platforms
Sponsor relevant community programs
Leverage on the internet and social media platforms like; Instagram,
Facebook, twitter, et al to promote our brand
Install our billboards in strategic locations all around major cities in the
United States of America
Engage in roadshows from time to time in targeted communities
Distribute our iers and handbills in target areas
Position our Flexi Banners at strategic positions in the location where we
intend getting customers to start patronizing our products.
Ensure that all our sta members wear our customized clothes, and all our
o cial cars and distribution vans are customized.

12. Our Pricing Strategy


(https://www.pro tableventure.com/factors-product-pricing-
strategy/)
The prize for cup or bottle or packet of herbal medicine and tea and similar
products depends on the content. In view of that, our prices will conform to
what is obtainable in the industry but will ensure that within the rst 6 to
12 months our products are sold a little bit below the average price of
various herbal medicine and tea brands in the United States of America.

We have put in place business strategies that will help us run on low pro ts
for a period of 6 months; it is a way of encouraging people to buy into our
brand.

Payment Options

The payment policy adopted by Nature© Herbal Medicine Production, Inc.


is all inclusive because we are quite aware that di erent customers prefer
di erent payment options as it suits them but at the same time, we will
ensure that we abide by the nancial rules and regulation of the United
States of America.

Here are the payment options that Nature© Herbal Medicine Production,
Inc. will make available to her clients;

Payment via bank transfer


Payment with cash
Payment via credit cards / Point of Sale Machines (POS Machines)
Payment via online bank transfer
Payment via check
Payment via mobile money transfer
Payment via bank draft

In view of the above, we have chosen banking platforms that will enable
our client make payment for the purchase of our products without any
stress on their part. Our bank account numbers will be made available on
our website and promotional materials.

13. Startup Expenditure (Budget)


Starting a standard herbal medicine and tea production company is indeed
capital intensive because the amount required to set up the production
plant is enormous. The bulk of the startup capital will be spent on leasing
or acquiring a facility and also in purchasing herbs especially from other
parts of the world.

Aside from that, you are expected to purchase and service your
distribution trucks, pay your employees and your utility bills. These are the
key areas where we will spend our startup capital;

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) – $1,300.
Marketing/promotion expenses for the grand opening of Nature© Herbal
Medicine Production, Inc. in the amount of $3,500 and as well as yer
printing (2,000 yers at $0.04 per copy) for the total amount of – $3,580.
The cost for hiring Business Consultant – $2,500.
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 in the
total amount of $105,600.
Other start-up expenses including stationery ($500) and phone and utility
deposits ($2,500).
Operational cost for the rst 3 months (salaries of employees, payments of
bills et al) – $100,000
The cost for Start-up inventory (assorted herbs, additives and packaging
materials et al) – $80,000
Storage hardware (bins, rack, shelves, food case) – $3,720
The cost for counter area equipment (counter top, sink, ice machine, etc.) –
$9,500
The cost for herbs, blending and packaging equipment – $20,000
The cost for store equipment (cash register, security, ventilation, signage) –
$13,750
The cost for the purchase of furniture and gadgets (Computers, Printers,
Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
The cost of launching a website – $600
The cost for our opening party – $5,000
Miscellaneous – $5,000

We would need an estimate of $300,000 to successfully set up our herbal


medicine and tea production business in Altoona – Pennsylvania.

Generating Startup Capital for Nature© Herbal Medicine Production, Inc.

Nature© Herbal Medicine Production, Inc. is a family business that is


owned and nanced by Alison Wester and his immediate family members.
They do not intend to welcome any external business partners which is
why he has decided to restrict the sourcing of the startup capital to 3 major
sources.

Generate part of the startup capital from personal savings and sell of
stocks
Source for soft loans from family members and friends
Apply for loan from the bank

N.B: We have been able to generate about $100,000 (Personal savings


$80,000 and soft loan from family members $20,000) and we are at the
nal stages of obtaining a loan facility of $200,000 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 the 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 Nature© Herbal Medicine Production,


Inc. is to build a business that will survive o its own cash ow without
injecting nance from external sources once the business is o cially
running. We know that one of the ways of gaining approval and winning
customers over is to retail our wide range of herbal medicines and tea a
little bit cheaper than what is obtainable in the market and we are
prepared to survive on lower pro t margin for a while.
Nature© Herbal Medicine Production, Inc. will make sure that the right
foundation, structures and processes are put in place to ensure that our
sta 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.

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.

Check List/Milestone

Business Name Availability Check (https://www.pro tableventure.com/ nd-


business-name-taken/): 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 facility and construction of standard production plant: 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 Packaging, Marketing/Promotional Materials: In Progress
Recruitment of employees: In Progress
Purchase of the needed herbal medicine and tea blending and packaging
machines: Completed
Purchase of the needed furniture, racks, shelves, computers, electronic
appliances, o ce appliances and CCTV: In progress
Creating O cial 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
Opening party planning: In Progress
Establishing business relationship with vendors – wholesale suppliers /
merchants: In Progress
Purchase of delivery vans: Completed
Joy Nwokoro (Https://Www.Pro tableventure.Com)
Researcher / Senior Writer at Pro table Venture Magazine Ltd
Joy Nwokoro is a Freelance Business Journalist, researcher, translator and sales trainer
who have worked with numerous clients amongst which is Women in World Banking, a
(https://www.pro tableventure.com)
business research NGO in New York, United States of America. She holds a Bachelor of
Arts degree in English and Literature.

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