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Business Summary For Modular Formwork

The document proposes a business that offers reusable or modular formwork systems made of materials like steel, aluminum, or plastic to address issues with using timber formwork in the construction industry. These systems are designed to be reusable, modular for quick assembly, and reduce environmental impact compared to disposable timber. The business aims to profit by renting the systems at a lower cost than timber formwork. Key plans include producing an initial supply of systems, building a team of engineers, welders and sales staff, and securing funding to support production and sales goals over the next two years.

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Harrison Daka Lukwesa
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© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
41 views

Business Summary For Modular Formwork

The document proposes a business that offers reusable or modular formwork systems made of materials like steel, aluminum, or plastic to address issues with using timber formwork in the construction industry. These systems are designed to be reusable, modular for quick assembly, and reduce environmental impact compared to disposable timber. The business aims to profit by renting the systems at a lower cost than timber formwork. Key plans include producing an initial supply of systems, building a team of engineers, welders and sales staff, and securing funding to support production and sales goals over the next two years.

Uploaded by

Harrison Daka Lukwesa
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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THE BUSINESS SUMMARY DOCUMENT

Proposed Company Name


FORM WORX LIMITED

NAME: DAKA HARRISON

EMAIL: [email protected]
CELL : 0977696193

DATE: NOV/2022
PROBLEM & SOLUTION

About the Business


The use of timber for formwork can be expensive due to the cost of the material and the skilled
labour required to assemble it, and it can also be time-consuming due to the time it takes to
assemble the formwork. Additionally, the use of timber for formwork can also have environmental
costs due to the use of a natural resource. One potential solution to this problem could be the use
of reusable or modular formwork systems made of materials such as steel, aluminium, or plastic.
These systems can potentially save money in the long run due to their reuse and may also be
easier and faster to use due to their modular design. They may also have a lower impact on the
environment due to their reuse and reduced natural resource usage. The adoption of these
systems could potentially save money and resources for construction companies and reduce the
environmental impact of formwork in the industry.

BUSINESS PROCESS

Features & Functionalities

I have developed a business that offers reusable or modular formwork systems made of materials
such as steel, aluminium, or plastic. These systems have several unique features that address the
identified problem:

1. Reusability: These formwork systems can be used multiple times, which reduces the need
for disposable timber formwork and can potentially save money in the long run.
2. Modular design: The modular design of these systems allows for quick and easy assembly,
reducing the time and skilled labour required to set up formwork.
3. Reduced natural resource usage: The use of reusable or modular formwork systems
reduces the need for natural resources, such as timber, and can have a lower
environmental impact compared to disposable timber formwork.

By offering these unique features, our business aims to provide a cost-effective and sustainable
solution to the problem of using timber for formwork in the construction industry in Zambia.

To produce or provide our business offering of reusable or modular formwork systems, we have a
team of skilled welders who manufacture and maintain the systems in-house. Our welders have
the necessary expertise and equipment to create high-quality formwork systems that meet the
necessary standards for use in the construction industry in Zambia. If we are also offering services
such as assembly or training on the use of these systems, our team of welders will be equipped
with the knowledge and skills needed to provide these services effectively. In addition to
manufacturing the formwork systems, our team of welders is also responsible for maintaining the
systems to ensure their continued functionality and durability.
Pricing & Profitability
To make a profit from our business offering of reusable or modular formwork systems, we expect
to rent the units out for ZMW 60 per unit, which is 30% lower than the cost of Timber. Each unit is
reusable for 24 hires before it becomes unusable, which means that the revenue generated from
each unit is ZMW 60 x 24 = ZMW 1,440. To calculate our profit margins, we need to consider the
cost of manufacturing one unit of formwork, which is ZMW 815, as well as the overhead costs,
which we estimate to be 15% of the ZMW 815 cost of one unit, or ZMW 122.25. The total cost of
one unit is therefore ZMW 937.25. Our profit margins are calculated by subtracting the cost of one
unit from the revenue generated from each rental and dividing the result by the revenue. This
results in a profit margin of (ZMW 1,440 - ZMW 937.25) / ZMW 1,440 = 0.348, or a profit margin of
34.8%. This calculation indicates that our business is making a profit, as the revenue generated
from each unit is higher than the cost of operations. By offering reusable or modular formwork
systems that can be used multiple times before becoming unusable, we are able to reduce our
costs and increase our profit margins.

MARKET OPPORTUNITY

Target Audience/Customers
Our target customers for reusable or modular formwork systems are construction companies or
contractors who are looking for cost-effective and efficient solutions for forming concrete
structures. These customers may be interested in the reduced cost and time required to assemble
the systems, as well as their potential to reduce waste and have a lower impact on the
environment. To determine the potential number of customers who could benefit from our
solution, we need to consider the size of the market, the level of competition, and the demand
for our products. By conducting market research and analysing customer data, we can better
understand our target market and the potential for success in this business.

Marketing & Sales Plan


To reach our target market of construction companies and contractors, we will use targeted
marketing efforts and offline marketing channels such as billboard signs. In addition, we will
engage in direct sales by following up with our target customers presenting them with our business
offering. We will utilize both offline and online channels to create visibility for our business and
reach potential customers, including social media, a website, and email marketing. By using these
tactics, we hope to effectively reach and engage with our target market and grow our business.

BUSINESS ANALYSIS

SWOT Analysis (Strengths, Weaknesses, Opportunities, & Threats)


Some potential strengths and opportunities for our business may include the cost and time-saving
benefits of our reusable or modular formwork systems, as well as their potential to reduce waste
and have a lower environmental impact. There may also be opportunities to differentiate our
products through the use of innovative materials or design features.
Some potential threats and weaknesses for our business may include competition from other
formwork providers, as well as economic and regulatory barriers that may impact the construction
industry. To overcome these challenges, we may need to continually assess and adapt our
business strategies to meet the changing needs of the market, such as by offering competitive
pricing, developing new products, or building strong relationships with key industry influencers.
Additionally, we may need to consider the impact of any relevant macroeconomic trends, such
as changes in the construction industry or shifts in customer demand, and adjust our business
strategies accordingly.

BUSINESS NEEDS

Resource Requirements
To start our business, we will need to manufacture a minimum of 50 units of reusable or modular
formwork systems. Each unit will cost approximately ZMW 937 to manufacture, which includes the
cost of labour and materials as well as an estimated 15% in overhead costs. By manufacturing
these units, we will have a sufficient supply to meet the initial demand from our target market of
construction companies and contractors. In order to manufacture these units, we will need
specialized equipment and materials, as well as a team of skilled employees to oversee the
production process. By investing in these resources, we can ensure that we have a strong
foundation for our business and are well-positioned to meet our financial and business goals.

Building a Team
Our business team should comprise of experienced professionals with a diverse range of skills and
expertise. This team includes:
Civil engineers: Several civil engineers who have extensive knowledge of the construction industry
and a deep understanding of the technical requirements for forming concrete structures. These
individuals are key to the design and development of our reusable or modular formwork systems,
and they are able to apply their expertise to help us solve complex challenges and meet the
needs of our customers.
Welders: A team of skilled welders who are responsible for manufacturing our formwork systems.
These individuals have the technical expertise and experience to produce high-quality products
that are built to last.
Marketing and sales professionals: A team of marketing and sales professionals who are
responsible for promoting our products and building relationships with potential customers. These
individuals have a deep understanding of the construction industry and are able to effectively
communicate the value of our products and services to potential buyers.
Overall, this team is uniquely capable of leading this business to success due to its diverse range
of skills and expertise. By bringing together professionals from different disciplines, we are able to
address a wide range of challenges and opportunities and create innovative solutions that meet
the needs of our customers.

PLANS

Business Forecasting and Planning

We are currently in the design stage and are preparing to begin production with a team of
welders. We have identified a problem in the construction industry related to the cost and time
required for timber formwork and believe that our product can provide a cost-effective and
efficient alternative. We expect to generate revenue by renting the units to construction
companies and contractors at a price of ZMW 60 per unit, which represents a 30% cost savings
compared to using timber formwork. To achieve our financial goals, we may need to consider
securing funding or other resources to support the production and distribution of our products.

Next Steps for the Business


Over the next two years, we hope to accomplish a number of milestones in order to grow our
business and achieve our financial and operational goals. Here are some potential milestones we
might aim to achieve on a quarterly basis:

1st Quarter: Secure funding to produce at least 50 units of modular formwork.

2nd Quarter: Hire at least 3 new staff members to support production and sales efforts.

3rd Quarter: Achieve at least 3 hires per week for our modular formwork units.

4th Quarter: Scale up production to meet demand, potentially by adding additional staff or
equipment.

1st Quarter (Year 2): Expand our sales and marketing efforts to reach new customers in new
regions.

2nd Quarter (Year 2): Achieve a profit margin of at least 10%.

3rd Quarter (Year 2): Expand our product line to include additional formwork solutions.

4th Quarter (Year 2): Establish partnerships or distribution networks to help us reach a wider
customer base by setting clear milestones and tracking our progress towards achieving them, we
can help to ensure that our business is moving forward and on track to meet our long-term goal.

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