Business Plan

Starting an Outdoor Lighting Business

For starting an outdoor lighting business, one should first see the scope and market for same. It’s actually a multi-million dollar market. The right type of lighting does not consumes much energy, gives good output and also reduces cost as well as maintenance. Through one of the surveys it is proved that 25% of the electricity used in the US is basically for the lighting purpose. Everyone enjoys lighting on the night to have a party feel. Everything becomes attractive; therefore the demand is quite high.

One can also get associated with event planning companies, wedding planners, as they really require people who create a beautiful ambience with lighting all around. Marketing your product is very important to get a good business.

While starting, a person can also think of LED lights, also called as Light Emitting Diodes, it started with small units emitting colored lights, but now has captured a good market segment. Now a lot of advancements are getting done in thermal management, chip controls and technology, optics in Led, making it a perfect source for outside lighting.

One should always take care of the basic expenses that will be involved in start-up like: capital investment, marginal cost, infrastructure cost, labour cost, etc. Then the business plan should be set up keeping all the risk factors in mind. All the things should be perfectly organized, be it material and supplies; job cleanup; location, etc.

This is quite a profitable business if one does it well by putting all his effort and by understanding his competition.

LED Light Manufacturing Business Plan Checklist

The full form of LED is Light Emitting Diode. These lights are becoming popular with every passing day. This light consumes very less electrical energy, which results in lower bills. That is why it is selling in good numbers and lots of people are using it instead of regular tube-lights. It’s a very good business, if one wants to start this business, below is a small and basic checklist to construct a successful plan.

1. Check and Construct Business Plan : It involves market research, identifying demand, identifying the major competition, promotion of the product, machinery quotes, cost calculation that would be required in setting up the complete manufacturing plant. Business objective, vision and mission should be accurately summarized.

2. Defining Cost and Investment : Infrastructure cost, fixed capital investment, working capital investment, pricing of the product should be clearly defined.

3. Check Business Compliances : Business should be registered with government authority based on the business pattern and investment ratio, licensing factors should be checked.

4. Check Location : Checkindustrial zone depending on the Led light operation area, storage, packing and office functions.

5. Machinery :  Check machinery (mounting/ assembling) that needs to be there as per the LED that one needs to produce.

6. Manufacturing Technology : Should be sourced from Government organizations at certain fees.

7. Manpower : Build manpower for domestic and international marketing and for various other operations.

8. Promotion : Various social mediums should be selected for promoting the product.
Other things should include making a website, and creating a contact us page, so that inquiries keep coming in.