Business Plan Oil Field Service Company

Depending on where you'll be headquartered and where you will operate, the business plan for oil field service company could have some unique market research needs. Most of the oil field sites in the world are in the Middle East, and if that is where you plan to be servicing mining equipment, you will need to disclose the various risks and liabilities your business could encounter overseas. For domestic plans in Alaska, the south, or elsewhere, you won't need to address international issues, but you'll still have to make it clear that you can carry sufficient insurance for worker's compensation, chemicals handling, accidents, and so forth. The oil field servicing business plan will have to describe:

• The market needs your company answers
• How you plan to get contracts with the oil companies
• The size of the engagements you will bid
• Your background in this industry and your team's expertise
• The equipment your company needs to acquire, if any

The business plan for oil field service company should also address the competitive nature of this industry. If you have chief competitors identified, give a brief profile of their strengths and weaknesses and make it clear what advantages you have that might give you an edge with the bidding process. From there, use market-tied assumptions to create a pro forma financial snapshot showing your expected revenues and expenses. Having an intelligent business plan that shows you know your market, capital requirements, and competitive field is vital. It's difficult, but MasterPlans can help you on your way. The on-site team of expert consultants has authored 11,000+ proposals and plans to date—call us at 877-453-2011 for more info.

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