Machine Shop Business Plan Template [Updated 2024]

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II. Company Overview

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Who is [Company Name]?

[Company Name] is a new machine shop located in [Location] that provides custom fabrication and machining services to local businesses and residents. Our mission is to help the members of our community make their designs a reality. We offer affordable pricing, design services, and the best customer service in the industry. No matter how challenging the project is, we have the experience and capability to produce everything our customers need.

[Founder’s Name] has been a machinist in the industry for [X] years. Throughout his career, he worked for various businesses providing machine shop services to his employers’ customers and clients. However, he saw that there were very few local machine shops that were designed for average residents. That’s when he decided to open a machine shop business that catered to helping both businesses and individuals with all their machining needs.

[Company Name]’s History

[Founder’s Name] recently began researching what it would take to start his own machine shop and thoroughly analyzed the costs, market, demographics, and competition. [Founder’s Name] has compiled enough information to develop his business plan in order to approach investors.

[Founder’s Name] incorporated [Company Name] on [date of incorporation] as an S-Corporation. The business is currently being run out of [Founder’s Name]’s home, but once the lease on [Company Name]’s office location is finalized, all operations will be run from there.

Since incorporation, the company has achieved the following milestones:

  • Found a retail space and signed a Letter of Intent to lease it.
  • Developed the company’s name, logo, and website located at [website].
  • Planned the suite of services to be offered.
  • Determined equipment, supplies, and materials needed.
  • Begun recruiting key employees

[Company Name]’s Products/Services

[Company Name] will provide a variety of machine shop services to manufacture our customers’ unique designs and parts. We can work with a variety of materials including plastic, aluminum, and stainless steel. Some of the services we offer include:

  • Boring
  • Milling
  • Lathe machining
  • Abrasive machining
  • Grinding
  • Design and prototype services

The costs for each project will be determined by the materials needed and the amount of labor required.

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