YIRGALEM INDUSTRIAL AND

CONSTRUCTION COLLEG

BUSINESS PLAN
FOR DESIGNING AND MANUFACTURING OF FEARMING/ HI-
LIFT JACK
PREPARED BY: INSTRUCTOR HAILE TEGENU BIRHANE

BUSINESS TITLE: - HI-LIFT JACK

KIND OF IDEA: - DESIGNING AND MANUFACTURING

DATE OF BUSINESS STARTED: - NEW BUSINESS IDEA

FEBRUARY, 2023
YIRGALEM, ETHIOPIA

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 HI-LIFT JACK PRODUCT PROVIDER

PROJECT PLAN PREPARED FOR THE

ESTABLISHMENT OF HI-LIFT FARM JACK

MANUFACTORY

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INTRODUCTION

“Hi-lift farm jack manufacturing plc” enterprise is a kind of partnership project plan
established in Yirgalem. My financial project is containing beginning form the owners for
adequate expanses. Startup funding, startup assets fund, liabilities capital, and additional
investment requirements are more briefly discussed in the financial part of project plan.

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 I. Executive summary
“Hi-lift farm jack manufacturing plc” is private limited organization for raising services for
profit. It is small scale farm jack manufacturing enterprise to be established in yirgalem city.
This small-scale enterprise refers to raise a product overall sub-city of yirgalem surroundings.
The enterprise plays great role by increasing market-oriented product demand

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1. Business profile

1.1.Business description

Hi-lift farm jack manufacturing plc will provide farm jacks to his customers at
lowest possible price; Hi-lift farm jack manufacturing plc provider will always
focus on client care, profit generation and to provide sustainable product and high-
quality row material which make the jack strong and make attractive.
Hi-lift farm jack manufacturing plc is not the only jack provider of that area there
are also few providers which compete with him. It will be good business opportunity
if capitalized.

1.2.Mission statement

Hi-lift farm jack manufacturing plc provide sustainable and high-quality row
materials and professionals products (different kinds of inks, metals so on) that makes
the customer happy and make their product strong and attractive that is the mission of
Hi-lift farm jack manufacturing plc.

1.3. Hi-lift farm jack manufacturing plc goals and objectives

A goal of the business is to reach all sidama region and Ethiopia and to reduce foreign
currency expense supply excellence service in any time to all customers because the
business focuses on customer’s attraction and retention as well as profit
maximization.

1.4.Business philosophy
The philosophy of Hi-lift farm jack manufacturing plc is to provide quality farm
jacks to the Ethiopian agricultural and automobile industry at lowest price.

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 1.5.Business value addition

Hi-lift farm jack manufacturing plc is heart for his customer satisfaction and
customer care service because customer like him; his good manner and he knows
today is a customer power.
Price competition and providing additional service also will make Hi-lift farm jack
manufacturing plc r critical competitor.

1.6. The keys to success in achieving his goals are:

✓ product quality: not only great product but also great manner and smile
✓ Managing finances to enable new locations to open at targeted intervals.
✓ Controlling costs at all times without exception.
✓ Eger to open different business
✓ Very interested to help other friends who has no job

2. GUIDING PRINCIPLES

2.1 Being Mindful of our customers and his neighbor members

Coinciding with his family values, he will treat both his customers and neighbor in a
manner in which we ourselves would want to be treated.

2.2 Gratitude

“An attitude of gratitude” shown to our customers, employees and vendors because
without their input, service, labor and time, our business would not be here without
them.
2.3 Hi-lift farm jack manufacturing plc

Provide the warm and friendly product expected from a family-style communication
creating an informal, comfortable environment which will make the customers
satisfied and want to buy other product again and again.

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 3. Business locations and ownership
3.1.Business location

Hi-lift farm jack manufacturing plc present at the back of Ethiopian

telecommunication which is beside Ethiopian electric power cooperation aims to get
one location in yirgalem city to provide quality farm jack product and to generate
profit but after a time Hi-lift farm jack manufacturing plc will take expansion
strategies to increase number of business location if the small business get
opportunities from any other government authorities.
The business planed to have branches in major sub-cities especially around arada,
aposto and areas in Hawassa.

3.2 legal form of ownership

The legal form of Hi-lift farm jack manufacturing plc is private limited company
Identification of Hi-lift farm jack manufacturing plc private limited company is
individual service provider and principal shareholder is one individual.
The amount of principal that he raised is:
4,000 birr the remaining amount of principal will get from OMO mirco finance by credit
by submitting by his business proposal.

3.3 Authority of small business

Even if Hi-lift farm jack manufacturing plc is small-scale enterprise product

manufacturer he is the only individual to manage his service area so we can call Hi-lift
farm jack manufacturing plc as the only manager of the small business.

The individuals (members) are graduated from tvet and they are not tried to continue
their addition education due to lack of money and they get short term training from

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 yirgalem industrial and construction college how to manage day to day activities of the
small business so the individual work as sales man, an accountant and as secretary.

3.4. Hi-lift farm jack manufacturing plc background

Is as an enterprise the members of the enterprise are educated but they do not get the opportunity
of employment and the began to think starting their own business. as to establish their own
business they went to micro and small enterprise organizing biro and get support of place and
finance.

3.5. Role and responsibility of the individual of the business

The individual assigned as:-

1. President: - the designate the leader of portions or division of the business that report to
OMO micro-finance overall activities of day-to-day performance.
2. Manager: - controlling over all activities of the business.
3. Accountant: - recording revenue and expense and preparing financial statement at the
end of each fiscal year.
4. Sales man assessing customer satisfaction and following selling other properties which
are related with manufacturing activities.
5. Finally:- the duty to write any activity that is done in the business and also writing
letters to ask supports from external bodies like OMO financial assistance, technical
assistance from TVET Colleges.

3.6.Business Growth Strategy

The business is implementing different strategies depending on the current

situation so Hi-lift farm jack manufacturing plc focus not survival but
getting higher growth comparing with other competitive.

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 3.7.Product and services

➢ Hi-lift farm jack manufacturing plc is providing different quality and capacity product
to the customers. The enterprise buys the materials from shop with discount and provide
for the customers with low price which make it preferable than others.
➢ Hi-lift farm jack manufacturing plc is practicing financial systems as Quick book. The
quick book practice was given by yirgalem TVET College.
➢ Hi-lift farm jack manufacturing plc takes care by providing Quality products.
➢ Hi-lift farm jack manufacturing plc is implementing different marketing strategies for
the aim of obtaining potential customer and retention for existing client.

3.8.Market analysis:

After long time for analysis the individual pointed that the farming equipment need is a growing
market as well most of people depend on it.

3.9.Market demand
Today all fields of people seek such product so that market demand for high lifting jack getting
growing very well.
4. The following are the common demands that have arisen in recent market

1. Customization: the enterprise planned to offer its product according to customers

preferences
2. Ease of service: people are looking for excellence product that is easy to adopt and
performed by themselves.
3. Effectiveness of post purchase/service: people are willing to get quality product and
sometimes delivery.

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 4.1. Market trends
Quality agricultural equipment market has been changing its trends very quickly of late.
Last a few years have seen major changes in trends such as following:
➢ New manufacturing machines and equipment usage is increased
➢ Most farmers have developed a habit for technology usage.

4.2. Targeted market and customers

Hi-lift farm jack manufacturing plc will manufacture different high lifting jack and sale for
consumers including; individuals, automotive technicians workers, households and companies
as well as it focus all over he think he get customers.

4.3. SWOT Analysis

HELPFUL HARMFUL
INTERNAL STRENGTH Weakness
High quality product High cost of material
Customers care from product providers
Low price (day to day increment of
Very good environment product price)
EXTERNAL
OPPORTUNITY TREATS
Rapid growth market Luck of wide area to manufacture
Low competition in market
Knowledge in local market