A lubrication business plan should be similar to any other document designed to sell an investor or banker on the idea of a new product: what are the unique attributes of your lubricant? What are its near-term and potential future uses? How big is the market opportunity? Even if much of this is guesswork early on, show that you have a feel for the size of the market by looking at the scope of spending in the industries you could penetrate. For example, if your product is a revolutionary lubricant for bike chains, how many bikes are there sold in the U.S. or the world each year? What is consumer spending in that category? Or if you can help every car manufacturer streamline the process of affixing bolts to tires, what is that worth to your customers?
Other important items for your plan:
• Show the funding you need and how you'll allocate it, category by category
• Give a year one breakdown by month of your expected revenues and expenses
• Show who is on the management team, and give bios for any key advisors
• If you need to onboard personnel over the next few years, show when and at what rates
• How will you market the product?
If you hold patents or certifications for the lubricant, or have any illustrations or schematics of it in action, feel free to include those where appropriate. The important part of the document is showing a reasonable projection for the performance of the lubricant while also giving the reader an idea of the ultimate scope of the market. A concise executive summary and a decent assessment of competing products or companies will serve you well. MasterPlans has written funding-ready business plans for a variety of new technologies and patented projects, including industrial solvents and machining components. You can trust our in-house team of experts to get it right for you. Call today for a free quote and consultation: (877) 453-2011.
