palm oil processing business plan in nigeria

PALM OIL FARMING AND PROCESSING BUSINESS PLAN IN NIGERIA

Fegeostom Palm Oil Nigeria Limited is one of the major palm oil producers in Nigeria which started with its first seedling in the year 2009 on five hectares of land in Edo State, Nigeria. The business kick-started with the palm oil tree plantation and bulk sales of palm oil.

We are gradually moving to the palm oil mills. Although the palm oil business can be capital-intensive, the return on investment is very high (up to 150 percent), the business requires a lot of time especially the plantation aspect. For instance, it takes up to five years for a palm oil tree to start fruiting depending on the specie.

The business has three main aspects. They are palm tree plantation – the root of all other aspects of this business; Palm oil mill – this could be named as the backbone of this business because it turns the raw palm fruit to the finished product, and palm oil bulk trading – this involves buying and sales of palm oil.

To be the leading palm oil producer in West Africa
To produce palm oil of the highest quality
To produce enough oil to supply the local demand for palm oil in Nigeria.
To produce enough oil to gain a good market share in the international market through exportation.

Key success factors

All year-round production
Best management and staff
Use of state-of-the-art machinery in the farming and processing of palm oil
Customer centricity

Our products

Our main product is palm oil which can be used for cooking in households and restaurants. It can also be used by companies to manufacture cosmetics, soap, and animal foods. In addition to palm oil, we produce a number of palm oil by-products. These include PKC, palm fronds, palm fruits for delicacies, palm kernel oil, palm kernels, and its by-products.

Market Analysis for Palm Oil Farming and Processing Business Plan in Nigeria

There is always a ready market for our produce. The trend in the palm oil sales in Nigeria is that there is surplus supply from April to June and scarcity from November to January. Production of palm oil peaks around May, leading to the palm oil being sold at a cheap price. Because of festivities’ high demand, the price of palm oil increase around December as the supply plummets.

Our target markets are segmented into four. Our first market base is the local industries which include drug industries, health industries, food production industries, pet food industries, and cosmetology/beauty industries.

Our second market base is the local palm oil companies in Nigeria, e.g. Planet oil and chemical industries limited, Phemson Nigeria limited, OM oil industries and other palm oil companies. Out third market base is the local markets all over Nigeria. These include the traders, household and everyone in the Nigerian markets. The last but not the least is the international market.

Marketing strategy for Palm Oil Farming and Processing Business Plan in Nigeria

For marketing, we place advertisements in daily newspapers, television and radio programs. We also send advertisement emails to our foreign customers (current and potential) with sales deals and promo offers. We ensure our website is also up to date with our stock and prices. We also offer delivery options to our customers all over the country with a cheap delivery fee and sometimes free.

Pricing: Our pricing is competitive and we offer reasonable prices to our customers. The price fluctuates with the time of the year. The price of a standard twenty-five-liter keg is between six thousand naira and thirteen thousand naira. As at the time of writing this, a keg cost eight thousand five hundred naira.

Financial Expansion: As we grow our plantation every year, we see the need to grow our mills also. These mills are set to be state-of-the-art and expected to roll out tons of palm oil every year. An estimate of 10 million naira is needed to set up the new mill. It will not only serve the Fegeostom palm oil plantation will also serve other plantations.

Since the return on investment is very high, we estimate a full return on investment with profit in the third year. Another aspect of the business we are set to grow is the trading aspect. The higher the investment, the higher the return.

Management:

Femi Akinyemi is the director at Fegeostom Oil Nigeria Limited. He has an MBA from the University of Lagos after his master’s and bachelor’s degree program in crop production from the University of Ibadan, Nigeria. He has a wealth of knowledge in palm oil production through formal learning and informal learning. Another thing worthy of note is His business administration skills.

Iwuoha Francis is our farm manager. He is a product of the University of Nigerian, Nsukka, where he studied agricultural science. He oversees the running of the palm tree plantation. He is also in charge of all the resources on the farm, i.e. human and material resources

Michael Onamajuru is our production manager. He has a master’s degree in Project Management Technology from The Federal University of Minna. He oversees the mills and the overall production of palm oil.

Michael Adeola is our logistics manager. He is in charge of the seamless movement of material and human. He ensures resources are where they need to be at the time they are needed there. For instance, he ensures that the palm oil gets to the warehouse in due time.

Aderonke Oluwarotimi is our financial manager. She is a chartered accountant with a lot of experience on her side. She manages the cash flow of the business. She is also responsible for preparing financial records, market analysis, and other financial documents.

Success story.

I bought a few kegs for 6,500 naira per keg. In just a little over seven months, I sold the same for nineteen thousand naira each which is about 250% increase. This is the beginning of the business

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PALM OIL PRODUCTION BUSINESS PLAN WITH FINANCIAL ANALYSIS

Looking for a comprehensive palm oil production business plan in Nigeria to kick start your business?

This sample of Palm Oil Production and Processing Business Plan in Nigeria can be used for Grant Applications, NIRSAL, CBN, BOI, BOA, Bank Loans, Proposal writing, Business Concept Note, Competitions etc. Palm Oil Production and Processing Business Plan is a lucrative business that needs a lot of strategic planning to start.

The Palm Oil Processing Business Plan will have these Chapters:

Introduction
Executive summary
Business Description
Objective and Goals
Estimated Profit
Production Strategy
Cost Estimates
Our vision statement
Our mission statement
Our business structure
Our strength
Market analysis
Market trends
Our target market for our palm oil production company
Our competitive advantage
Sales and marketing strategy
Sales forecast for our palm oil processing plant
Payment options
Financial analysis for our Palm Oil production plant
Sources of startup capital for our Palm Oil processing company

READ – Download Snail Farming Business Plan Now

1.0. Business Description of Palm Oil Production and Processing Business plan

Business: Palm Oil Production and Processing

Industry: Agriculture (Crop Farming; Palm Oil Production and Processing Business plan in Nigeria)

Farms is an Integrated Palm Oil Production and Processing Farm operating in hygienic and pure production and processing of prepared palm oil targeting Ebonyi state, Southeast Nigeria, the entire nation and ﬁnally the export market. We make sure we always use the best quality raw materials and ensure good cultivation practice throughout our cultivation and processing process. Our palm oil is certiﬁed to meet international standard and are rich in essential vitamins and other mineral nutrients.

The pros of our products and services are:

Quality, healthy and pure hygienically and painstakingly prepared palm oil produce of international quality.
Good packaging and intensive cultivation and processing thus ensuring continuous availability of our products.
Impeccable or close to impeccable Customer Care Services.
Online purchase and delivery for both our products and training services.

My business meets a need and demand for:

The supply of pure and high quality prepared palm oil produce.
The demand for cheaper and locally produced palm oil for the increasing population.
The demand for increased production and consumption of high quality locally produced unadulterated hygienically prepared palm oil produce.

I am in this business because of my keen interest in palm oil. I also desire to produce this produces at a quantity that will meet local demands. I have also discovered a possible means of establishing a monopoly as I have noticed an unsatisfiable market in my area. I have a great passion for self-reliance and creating job opportunities.

2.0. Our Objectives

Constant growth in sales in 12 months.
To generate customer satisfaction
To provide high quality locally produced pure, hygienically prepared palm oil produce at reasonable prices with exemplary services.

3.0. Our Goal for the Palm Oil Production and Processing Business

To be a one-stop farm for high quality locally produced pure and hygienically prepared palm oil produce in Nigeria.
To have trained over 500 trainees in 12 months.

4.0. Our Vision for the Palm Oil Production and Processing Business plan in Nigeria

To supply high quality locally produced, pure and hygienically prepared palm oil produce in Nigeria at an affordable cost.

Our Mission for the Palm Oil Production and Processing Business plan in Nigeria

To surpass the customers’ expectations by providing quality products and services

How To Download The Palm Oil Plantation Business Plan Template PDF and Doc (with financial analysis)

Above is a part of the Palm Oil business plan template in Nigerian. In case you need the complete Palm oil plantation business plan, follow the procedures to download it.

Pay the sum of N8000 (Eight thousand naira only) to the account detail below: Bank: GTBank Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us) Ac/No: 0238933625 Type: Saving

Thereafter, send us your email address through text message to +234 701 754 2853 . The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the Palm Oil Plantation business plan in Nigeria to your email address where you can easily download it.

How To Start A Palm Oil Processing Business In Nigeria.

The palm oil business in Nigeria is not as complicated as you may assume. I will show you the steps that must be performed in order to begin a lucrative palm oil processing business in Nigeria.

1. Conduct extensive market research This is an intended initial step. It is critical that you first do a thorough market study to assist and guide your marketing approach. It is always preferable to have a ready market than to go seeking buyers once the firm has been established. So remember that. By reading this essay, you have already taken the first step.

2. Find a suitable site for Your Processing Plant. Your ideal site should be convenient for your target market. However, because you will not be selling directly to people, it may be unnecessary for you to be located near a market. In this situation, your optimal site will be near palm oil fields and plantations, or in locations where there are a lot of palm trees. You want your facility to be far away from human and animal activity.

3. Purchasing Palm Oil Processing Equipment In the market for palm oil processing, there are several complex machinery and equipment available. The following equipment is required for the proper operation of your business: • Boiler • Palm fruit stripper • Nut fiber separator • Pounding machine • Mechanical screw press • Barrels/surface tanks I recommend that you obtain a Palm Oil Operation Plan to properly understand the equipment required for your business.

4. Plant installation The following step is to efficiently set up your processing facility and install certain machinery. Typically, you must seek out pros to assist you in constructing the necessary infrastructure as well as setting up and installing it.

5. Promotion!

At the end of the day, your ability to sell will decide the success of your firm. Every day, look for new ways to reach out to additional customers. While concentrating on networking inside your target market. Approach potential marketers and persuade them to purchase from your firm. Concentrate on efficiently expanding your consumer base and developing repeat customers for your company. When it comes to adopting marketing techniques, you must be proactive. This is your company’s lifeline, therefore treat it as such.

Dr. Abi Demi is a skilled technical writer and author with specialties in the martech and fintech space. Featured on Tekedia, Coin Review, Business Insider, Fintechna, Cryptocoin.news, Date 360 and several other sterling online publications, Demi is an astute technical writer that specializes in finance, marketing and technology - with over 500 published pieces across the internet ecosystem. Contact Abi Demi - [email protected]

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How To Start Palm Oil Processing Business In Nigeria

palm oil processing business plan in nigeria

Palm oil processing business in Nigeria is a highly profitable business that you need to give serious attention. The palm oil fruit is indigenous to Nigeria. Our soil naturally grows them and they are found in the south east and south west of the country. Everyday, thousands of tonnes of palm oil is processed for consumption and use. Still yet, barely enough is available locally. We have to import from Asian countries and other foreigners that do not grow half as much as we do.

There is no debate about it, we are in need of more processing plants in the country both large scale and medium scale. Large scale palm oil processing plants are scarce if there are any available in the country. The medium scale plants do just fine and can process within 3-50 tonnes daily depending on size and sophistication of machinery. Here we will be talking about setting up the medium scale plants, what it takes and how.

SEE ALSO: How To Start High Yield Palm Oil Plantation In Nigeria

The Steps Involved in Processing Palm Oil

There are five major steps when processing the palm fruit bunch to its final product – the palm oil. These steps are listed below accordingly:

Weighing and Offloading from trucks: The act of weighing is very crucial to the operation for easy calculation of the amount you are producing and calculation of the cost from sellers. Offloading from trucks has to be done carefully because it may affect the overall quality of the product. If it is handled carelessly the acid content may rise and offset the taste and increase the processing hurdles as the acid content has to be reduced to a certain minimum.
Threshing: This is the process where the fruit are cut off to separate them from their bunch. They are subjected to high temperature boiling in water to loosen the fruits in a process known as sterilization by pressurized cooking.
Pressing/Extracting the Palm Oil: This is the peak of the processes involved in the processing of the palm oil, where the oil is being extracted from the fruit bunch.
Filtering of the palm oil: The oil at this stage will contain unwanted remains of the fruit shells and water and some other dirt. So it is purified at this stage.
Storage of the palm oil: After the whole work is done, they are stored in gallons or barrels, to be transported later to the market or for buying customers to come and pick up, as palm oil is often sold on-demand.

SEE ALSO: Palm Kernel Oil Extraction Production Process In Nigeria

Find Suitable Space and Location

First, you will need a decent amount of open space for the plant. Then the next consideration is the distance the plant is from the nearest farm that can supply you with the palm fruits known as Fresh Fruit Bunches (FFB). The location should be able to accommodate a parking space for trucks for offloading the palm fruits.

Also, some of the processing might be done manually by hands, make sure there is enough room for many workers to roam about.

Water Supply

You will need a constant water supply for the boiling/steaming of the palm fruit during processing. It has to be clean because hygiene is of utmost importance in palm oil processing. There is a high possibility of being located in a remote area where there is neither electricity nor treated water supply. So you might have to pay the water board to fix a pipe from the nearest town to your processing plant. Or a preferable alternative is to dig a borehole on site. That will save you a lot of money from paying water bills and it is always available whenever you need it.

The Equipment You Need

A mill is setup for the processing of palm oil. The mill does most everything in the palm oil processing operation such as the boiling, threshing, fermentation, fruit clarification etc. Depending on how much of the processing plant you wish to mechanize, the machines you need may vary. If for example the threshing is left to manual laborers, you wouldn’t need a thresher. But of course there would be a wide gap when it comes to efficiency between the workers and the machine. Machines will perform faster and reduce waste significantly.

The most common machines found in a palm oil processing mill are the thresher, boiler, presser, and the clarifier. Each mill has a capacity rating, that is an amount of palm oil it can process daily. Small ones usually produce about 1 tonne every 24 hours and medium to large ones produce over 10-100 tonnes daily.

The suppliers of the machinery provide tech support, they should be able to provide you with any information you need regarding the setting up of the mill and its maintenance.

List of Required Items

This business is capital intensive, it needs preparation both monetarily and logistically. We will be adopting a medium scale model as it is the popular and practical model in West Africa (particularly Nigeria) and is big enough to accommodate even for exporting. So the items that will be listed will reflect the medium scale business model.


10 Ton Capacity Mill	Production capacity = 10 tonnes, including boiler, thresher and all the other necessary machines.	3,800,000
Diesel Generator	16KVA power generator.	1,406,500
Borehole	For water supply. The full installation with electric pump connected to tanks for storage.	300,000
Plot of Land		1,000,000

Hire Trained Staff

The workers that will be operating the mill should be experienced in the job or at least they should have training on how to operate the specific set of machines available in your processing plant. But some workers don’t require an extensive training, those responsible for offloading the fruit bunches and other manual labours.

You may also need among the staff professional engineers, chemical engineer for testing and evaluating of the oil product and mechanical engineer for the mill maintenance. Another option is to hire them temporarily whenever they are needed.

Expected Profit Margin

A tonne of palm oil is sold for somewhere around $550 which is about 173,000 in Naira, and only 25% percent of the oil is extracted from a fruit bunch making if a good machine is used, so you need about 40 tonnes of fresh fruit bunches for 10 tonnes of palm oil which is the average capacity of the medium scale mill we mentioned above. Now if you account for weekends like a Sunday when there isn’t work and days it takes to process each batch of bunch, mostly 3-4 days because fermentation alone takes 2-3 days, you will be left with about 12 days of pure palm oil output, which gives you 120 tonnes per month.

The machine itself works at 90-95% efficiency according to the manufacturers leaving you with 100 tonnes of oil per month. We said earlier 1 ton is sold for N173,000 so we will be having N17,300,000 for 100 tonnes. Now close to 40% of the expenditures is the cost of the palm fruit, which stands at about 6.9 million Naira, the rest of the expenditures are transportation, staff payment, diesel fuel and maintenance costs, they roughly add up to 3.5 million Naira, so you have;

17,300,000 – 6,900,00 = 10,400,000

Then 10,400,000 – 3,500,000 = N6,900,000, approximately 7 million Naira, this is your expected profit when embarking on this business.

Capital to start business: 6.5 million Naira.

Business type: Capital intensive.

Potential customers: Sold on-demand.

Suitable location: Near palm oil plantation.

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Please where can I get the machines needed for the processing here in Nigeria

I think a quick search about ‘palm oil processing machines’ will reveal companies that supply the machines

Since the formation of the corporation 45 years ago, we have gained valuable experience in our field; today, we are a Specialist in designing & manufacturing of Oil Mill Machinery, Oil Extraction Machinery and Equipments, Oil expellers, Oil Presses, Pellet Making Machines, Elevators, Copra Cutter, Soybean Oil Mill Machinery, Edible Oil Mill, Palm Oil Mill, Olive Oil Mill, Groundnut Oil Mill, Bio Diesel Plants, Edible Oil and Oil Extraction Plant & Machinery.

How can I contacts to the dealers of the machines, I need them to start my own firm.

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How to Start Palm Oil Business in Nigeria and Earn ₦3m Monthly

Palm oil business is very profitable in Nigeria because many people use palm oil both domestically and industrially.

The oil palm ( Elaeis guineensis ) is one of the important economic crops in the tropics.

It belongs to the family palmae , and the subfamily cocoideae of which it is the most important member.

The oil palm is a versatile tree crop with almost all parts of the tree being useful and of economic value.

The principal product of oil palm is the palm fruit, which is processed to get three commercial products.

These include palm oil, palm kernel oil and palm kernel cake.

The uses of palm oil are many and varied.

Locally, it is used for cooking, soap making, metal plating and lamp oil.

The palm kernel oil, however, is used for soap making, as a source of glycerine, for manufacturing margarine, cooking fats and for making lubricants.

The residue got after extraction of oil is called kernel cake, which is useful in livestock feed production.

The midribs and rachis of oil palm are used for making brooms and roofing materials.

The thicker leaf stalk is used for making the walls of village huts.

The bark of the frond is peeled and woven into baskets while the trunk (main stem) can be split and used as supporting frames in buildings.

A sap tapped from the male flower is drunk as palm wine, which is a source of yeast.

The spent fruit bunch and fibre that remains after oil extraction can be used for mulching, as manure and as fuel.

Steps to Starting Palm Oil Business in Nigeria

Here are the steps to start a profitable palm oil business in Nigeria:

1. Choose the Palm Oil Business Type to Invest in

(a) Palm Tree Plantation

The capital requirement for planting palm trees runs into millions of naira.

If you want to earn from palm oil business fast, this may not be the best option for you.

It requires the purchase of acres of land.

The land and type of soil used in planting and cultivating the palm affect the quality of the fruits and must be tested to be sure it is appropriate for palm tree plantation.

The incubation period after plantation of the palm trees can take five to ten years before harvesting.

To plant, buy seedlings.

Usually, one seedling in Nigeria costs ₦250 and you will need at least 1000 seedlings for a start.

Importantly, ensure you give at least 8-9 meters space between two plants.

After harvesting, you can either sell the palm oil kernel seeds to those processing it or you set up a mill to extract the palm oil.

(b) Palm Oil Extraction Mill Setup

Setting up of palm oil extraction mill is also capital intensive but not as expensive as the palm tree plantation.

To begin, install palm oil milling machines for the processing of the palm oil kernel seeds.

Use milling machines for personal or commercial processing.
Rent out the machine to people who want to process their palm kernel.
Earn cool cash from this business if you are positioned in an environment where the machine is usually needed.

Note the palm oil season.

The peak season is between January to May.

Alternatively, you can install the milling machine for your personal use, process the palm oil kernel, and sell the palm oil to consumers or resellers.

To process for yourself, you need to purchase the palm kernel in large quantities from harvesters and process them into palm oil in your mill, then sell to retailers.

If you have capital, this is the cheapest and easiest part of the business for you.

However, you need to be patient to make a good profit from this business.

This involves buying palm oil in large quantities and selling to consumers during the off-peak period, when the supply to the market has reduced.

To get more profit from this business, store the palm oil in a cool place for months, then sell them during off pick period when the supply of palm oil has reduced, and demand is high.

2. Fully Understand Palm Oil Trade (Market Research)

To start and successfully scale a palm oil business in Nigeria, you must have in-depth knowledge of how it works.

Before starting, you must know the answers to these questions:

How does the business works?
Is it time-consuming?
Where do I source for cheap and good palm oil?
Can I store palm oil for at least a year without it losing its taste?
Who are some of the top palm oil traders and companies in Nigeria?
How do they operate and serve their customers?

You also need to know your competitors and the existing price of palm oil before starting the business.

The best ways you can get a better understanding of palm oil business in Nigeria and succeed without making costly mistakes is by undergoing mentorship under a proven palm trader or company and by reading from detailed guides online.

After carrying out market research, the report you have made will point out the right amount of capital to start the business.

3. Have a Business Plan

To make your business work, sit down and draft out a realistic plan.

A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them.

Your business plan will state:

The name of your business venture.
The states you are selling to and countries for export.
Palm oil business potentialities and risks.

4. Business Registration

This is done to legalize your business and avoid any legal issues that might come up.

With your CAC certificate, you can open a corporate bank account where customers can pay into.

Doing this will also make you appear more reputable to your customers.

To begin registration, run a name search on CAC’s portal to confirm if your chosen name has not been registered by another person.

With basic information like valid ID card, passport photograph, signature, and personal details, you are good to go.

Alternatively, you can hire a lawyer to help you register it.

5. Source for Palm Oil from Reliable Suppliers

In case you are not the one producing the palm oil, you will need to have a solid arrangement with suppliers you can purchase from.

You can get palm oil cheaply during a peak period from places like Delta State, Bayelsa State, Imo State, Rivers State, Abia State, Akwa Ibom, Ondo State, Edo State and Rivers State.

It is very important to buy palm oil of good quality as this would make it easier for you to get customers to sell to.

6. Decide on the Mode of Transportation

If you don’t know the right mode of transportation to use in transporting your palm oil, you may end up incurring huge costs that will affect your profit.

So, compare prices with several commercial carriers before settling for one.

Ask your supplier to suggest the cheapest, reliable, and safest mode of transportation to you from experience.

If you have your own vehicle, then that’s better for continence and reliability.

Otherwise, you’ll need trusted drivers to deliver palm oil to your customers all over the country.

7. Get a Storage Space (Room)

Know and learn how to preserve palm oil.

You need a place to store your goods in wait for the off-peak period; somewhere cool, dry, and safe.

The storage space (warehouse) must be spacious, cool, safe, and dry for the storage of palm oil.

Rent a space or a room where you can store the palm oil while you wait for the right time to sell.

Purchase kegs or drums to store your oil, preferably the 25-liter yellow kegs.

Also, the kegs for storing the oil must be arranged.

8. Set Right Prices for Your Products

You must learn how to fix the right prices for your products if you don’t want to make a loss from your business.

To put the right price on your product, calculate all expenses, do market research and analysis on how much palm oil is being sold, how many consumers will pay, and the rate of demand of the product.

These details will help you price your product correctly.

9. Look for Customers

Customers are the most important part of a business.

Without customers, your business will not thrive.

Wait for the off-peak period, which starts in July. Take active measures to look for customers and sell your palm oil to.

You can find some retailers among market sellers, stay-at-home parent, food companies, cosmetologists.

Use a unique container to bottle your palm oil, make it appealing by placing a label on it.

Alternatively, you can market your business online to reach a wider audience.

10. Locate Genuine Foreign Buyers for Your Palm Oil

Sourcing for buyers can be tasking, especially if you are new in the business.

Quality palm oil is in high demand by Nigerians based abroad.

Locate these Nigerians or create a means through which these commodities can reach them.

Here are some tips on how to get genuine buyers abroad:

Join your local seller association and cooperative society for the palm oil you want to export.
Join online trade hubs companies that have the directories of both buyers and sellers. Though it will cost you a subscription fee. It may be yearly or monthly.
You can contact the embassies of the countries you are exporting to, in your country of residence, to confirm the legitimacy of the buyer’s details.
Search on the internet for companies that use that product as a raw material. Send mail and put the call through for better communication.
Join B2B (Business to Business) and B2C (Business to Customers) forums and portals to connect with buyers.
Join some social networks like Facebook, twitter, LinkedIn pages to connect with buyers.
You can advertise on some trade portal websites for availability of the products and services for sales.
When you have one buyer, encourage that one to put word across to other Nigerians, Africans, and Foreigners around.

11. Arrange for Palm Oil Export Logistics

As a palm oil trader, you need to have some knowledge of palm oil logistics.

If you are too occupied with doing this yourself, contact a reliable company to do this.

Your products are expected to be packaged and labeled correctly to prevent damage and misplacement on transit.

Document them and insure against losses.

Inspection of the product by an authorized body, such as FIIRO, Nigerian customs, and NDLEA, is also vital.

Know and have the basic documents required for exporting goods which are: certificate of origin, insurance certificate, shipping bill, certificate of inspection, palm oil license, commercial receipt, packing list.

Before you have the goods shipped out, confirm with your contact where the commodities should be shipped to.

If for any reason, you do not document your palm oil process with required government agencies, then it can be termed smuggling and you’ll be punished if caught along the line.

Where Can I Get Palm Seedlings for Planting?

You can get palm seedlings from the seed pods of flowering palms or purchase them from the market.

These palm seeds vary in size.

Some can be small and bright red, while others can be quite large.

If you prefer to get your seeds from your tree, it is better to get them immediately when they fall from the tree.

Also, use these seeds on time because some of them have a short lifespan.

You must test your palm seeds before you plant them.

This determines if it would germinate or not.

Just simply put the seed in a bowl of warm water.

If the seed floats, it is unsuitable for use.

However, if it sinks in the water, it is suitable for planting.

Price of 25 Liters of Palm Oil in Nigeria

Presently in Nigeria, you can buy 25 liters of local palm oil at a price of ₦35,000 per 1 keg.

Palm Oil Production Season

Unlike other types of businesses, this is a business that has its seasons and not an all-year round kind of business.

The palm oil peak season starts in February through April/May.

This is when you would buy your palm oil in large quantities in wait for the off-peak period.

During Peak Periods, you could get a 25-liter keg of palm oil for as low ₦4,000 which could be sold for as much as ₦11,000 between July and January, which is the off-peak season.

How to Know Good Palm Oil/Grades in Nigeria

(a) Grade 1

This is the best oil which can be stored within 8 months or more.

The oil doesn’t sleep, nor is it harsh. From the top to the bottom, it remains the same.

A little shake of the content will make the oil to flow freely; the taste is excellent, has a beautiful fragrance and does not foam at the top.

The colour is most times dark red.

(b) Grade 2

Grade 2 palm oil can be stored for 3-4 months.

The oil is the opposite of grade one; it is choking, sleeps from the top to bottom, etc.

Grade 3 palm oil should be sold immediately or at most within a month. It is used in soap making.

You must make a good use of your nose to distinguish good oil.

Just dip your finger into the oil and smell.

The colour of palm oil may not mean the oil is bad, for instance there is a species of palm tree called agric.

It is not as reddish as the local one.

Agric reduces in quantity by about 5 litres from its content.

Most millers mix agric and local species together to make it come out well.

How Much Do I Need to Start Palm Oil Business in Nigeria?

To successfully start a palm oil supply and storage business in Nigeria, have at least ₦100k.

If you want to set up a palm oil extraction mill or even a palm tree plantation, you will spend more than selling palm oil directly to customers.

How to Succeed in Palm Oil Business in Nigeria

Always check and turn your stored oil monthly. Bring them out and sun them or use a stick to stir.
Be able to identify good oil from the bad ones. This is where the success or failure of the business begins.
Buy re-used kegs if you are using gallons, although purchasing drums is far cheaper than gallons.
Cut your cost of transportation. You don’t need to hire a whole van for yourself alone, as you can partner with others to pay for transportation.
Know when to buy and when to sell.
Locate someone who is experienced and whom you trust to take you through the business.
Purchase gallons you will use in storing the oil.
Start your palm oil business with a few gallons, if possible, 10-20 gallons.

Where to Buy Palm Oil in Bulk in Nigeria?

Here are the best places to buy cheap and quality palm oil in bulk in Nigeria.

Akwa Ibom State
Bayelsa State
Cross-Rivers State
Delta State
Rivers State

Risk in Palm Oil Business in Nigeria

The palm oil business in Nigeria is profitable, but it is not without its risks.

Here are the most common risks associated with the palm oil business in Nigeria:

Leakage of kegs.
Identifying good oil.
Not been able to source for the oil on time or delay by the palm oil millers, etc.
Fluctuation in prices.
Importation of palm oil into Nigerian market from Malaysia and other neighboring countries affects pricing.
Selling on credit.

What Companies Buy Palm Oil in Nigeria?

These are companies in Nigeria that you can sell palm oil to:

Planet Oil and Chemical Industries Ltd, in Abia State.
Phemson Nigeria Limited, in Lagos State.
Sunny Oil Nigeria Ltd, in Lagos State.
OM Oil Industries Ltd, in Lagos State.

Palm oil business is one of the profitable businesses anybody can engage in Nigeria.

Start buying immediately. Palm fruits are prevalent and the price considerably drops.

That should be between January-March.

Don’t wait until the price completely drops.

Buy in batches, little by little until the price eventually drops.

You will have nothing to lose even if the price doesn’t come down lower than you thought.

The right time to sell your palm oil is when the rains are coming down heavily and continuously.

Currently, palm trees bring out less fruit or you sell from September down to December.

It can also be when you see a sharp increase in the price of palm oil in the market you sell your own.

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22 comments.

I need where I can be supplied for my red oil business to

What’s the price of 25kg keg

I am highly interested in this business, please guide me on how to achieve this goal Thanks

Please I need a good information and how to start Palm oil business.

I sale and deliver nation wide tasty and quality palm oil with very good price directly from Bayelsa State.

You can contact me let’s do business.

Hello Joe world, I came across your comment on palm oil business on d net, I am interested in d business and I thought I should reach out considering that I am in bayelsa too. can you please help guide me on how to start d biz? thks

I sell quality palm oil in ondo state, currently I have over 250 25 liters keg and I deliver any where in the country. It’s a service before payment business .

if I am to buy in bulk how much will you sell for me

#20,000 then u pay for the transport fair.

I’ll b so graceful to b partner with u ma

Good business needed

I sale palm oil in 25 liter’s Kings rubber. 22 thousand naira each, if you are interested please contact me 07031245113, Victor Akpan, Akwa Ibom State

I sell palm oil i just started new please my good people do inform me if anyone is in need of it please this is my number 09025127610

which state are you from

Interested in where I can buy good palm oil (high quality).

As at this month people where buying to store. you can still buy now to store. we sell grade A only.

I want to start the business, I have small capital and I did not know anything about the business, I need someone to guide me.

I what to please

Please I want to start a profitable business.

I sell palm oil and am just starting online business, my people do inform me if you need any to be delivered to you. Thank you lovelies

I want to start a profitable business

This is my number 09168868111

PALM KERNEL OIL PRODUCTION BUSINESS PLAN

Get Complete Business Plan File(s) Now! »

The Palm Kernel Oil Production Business plan 2018 is a comprehensive palm kernel oil processing business plan and feasibility study that will assist you with all the needed ideas and plans to start a successful Palm Kernel Oil Processing business.

This Palm Kernel Oil Business plan will help you with:

Contacts of Palm kernel oil extraction machine in nigeria required for the palm kernel oil extraction business at a very affordable price
Under the Products heading, The palm kernel oil production business plan will teach you step by step production process involved in palm oil production
under the Market Analysis Summary of the PKO Processing business, we exposed over 30 companies that buy palm kernel in Nigeria . It should be noted that in south eastern Nigeria alone vegetable oil producers who are the highest palm kernel oil buyers in Nigeria demand about 300 metric tons per day while all the producers at Region cannot produce up to 20 metric tons per week. However this palm kernel oil buyers in nigeria pay in advance and book up all the palm kernel oil produced from the region even before they are produced
The PKO Processing business plan under the financial analysis and feasibility studies section calculates the break even analysis ( product quantity and amount) based on given figures.
The cost of starting the palm kernel oil extraction business in nigeria is about 10.5 Million Naira only
On a small scale base of 48 ton per month only the gross profit stands at 6 million Naira per month.
The complete business plan is bank ready to help you access capital loan from a bank or other investors for your new Palm Kernel Oil business.

WHY YOU NEED THIS Palm Kernel Oil Production Business plan

A Palm Kernel Oil Production business anywhere in the world is a viable business and can be done on large scale or small scale.

The Palm Kernel Oil Production Business plan is fully updated with current research on how to start a Palm Kernel Oil manufacturing business, get the attention of customers, retain them and make profits.

Also, this Palm Kernel Oil Production Business plan will not only help you start your Palm Kernel Oil but will also give you a free guide and feasibility on how to start a Palm kernel cake (PKC) business.

The Palm Kernel Oil Business plan will give you a guide to profitability as all necessary financial projection for the business has been made such as Palm Kernel Oil business break even analysis, Palm Kernel Oil Manufacturing business marketing analysis, competitor analysis, SWOT analysis for your Palm Kernel Oil business, sales forecast, etc. The business plan has full analysis on Palm Kernel Oil Processing business in nigeria, Palm Kernel Oil machine design and installation, cost of Palm Kernel nut, list of Palm Kernel Oil Manufacturing dealers who will buy palm kernel oil from you. The Palm Kernel Oil Processing Business plan also has in-depth analysis on best PKO processing equipment manufacturers

The Palm Kernel Oil Processing Business plan is a seven(7) chapter business plan of about 41 pages. 5 Years Automated Financial Model in MS Excel. It has a complete industry research. Bank/ Investor/ Grant Ready- The business plan is design to enable you use it to access loan and grants. Exceeds all legal requirements and standards.

DESCRIPTION

Below is the table of content for the Palm kernel oil production business plan pdf

1.0 Executive Summary for Palm Kernel Oil production business

1.1 Objectives of starting Palm Kernel Oil production business

1.2 Mission

1.3 Keys to Success

2.0 Company Summary for Palm Kernel Oil production business in nigeria

2.1 Company Ownership

2.2 Start-up Summary for Palm Kernel Oil Processing business in nigeria

Table: Start-up

Chart: Start-up

3.0 Products and Services of Palm Kernel Oil business

4.0 Market Analysis Summary of Palm Kernel Oil processing business nigeria

4.1 Market Segmentation

Table: Market Analysis

Chart: Market Analysis (Pie)

4.2 Target Market Segment Strategy

4.3 Service Business Analysis

4.3.1 Competition and Buying Patterns

5.0 Strategy and Implementation Summary of Palm Kernel Oil Manufacturing business development

5.1 SWOT Analysis of my Palm Kernel Oil business

5.1.1 Strengths of Palm Kernel Oil business

5.1.2 Weaknesses of Palm Kernel Oil business

5.1.3 Opportunities in Palm Kernel Oil business

5.1.4 Threats in Palm Kernel Oil business

5.2 Competitive Edge

5.3 Marketing Strategy

5.4 Sales Strategy for Palm Kernel Oil buisness in Nigeria

5.4.1 Sales Forecast

Table: Sales Forecast

Chart: Sales Monthly

Chart: Sales by Year

6.0 Management Summary

6.1 Personnel Plan

Table: Personnel

7.0 Financial Plan for Palm Kernel Oil business plan

7.1 Start-up Funding for Palm Kernel Oil Processing business in nigeria

Table: Start-up Funding

7.2 Important Assumptions

7.3 Break-even Analysis

Table: Break-even Analysis

Chart: Break-even Analysis

7.4 Projected Profit and Loss

Table: Profit and Loss

Chart: Profit Monthly

Chart: Profit Yearly

Chart: Gross Margin Monthly

Chart: Gross Margin Yearly

7.5 Projected Cash Flow

Table: Cash Flow

Chart: Cash

7.6 Projected Balance Sheet

Table: Balance Sheet

7.7 Business Ratios

Table: Ratios

This material content is developed to serve as a GUIDE for students to conduct academic research

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Palm Oil Business Plan in Nigeria

October 15, 2020 by admin 1 Comment

Palm Oil Business Plan in Nigeria- So many people don’t really know how lucrative palm oil processing business is, if you are among those who are still in the dark, still don’t know that palm oil business is among the most lucrative business in Nigeria and you are see this post then I guess today is your lucky day, because we are going to talk about how lucrative palm oil is and how important it is go get a palm oil business in Nigeria so that you can start your business successfully and be among those who are making it big time.

So many people are interested in starting their own palm oil processing business but they don’t really know much about it, if you are among those category then here’s an in depth guide on how to start a palm oil processing company in Nigeria.

GET YOUR palm oil Business Plan In Nigeria / Feasibility Study. To place an order, pay N10,000 to

Account Name: Oliver Uwadia

Account Number: 3094192129

palm oil Business Plan In Nigeria Latest Edition feasibility studies proposal

After payment text your name, your e-mail address and bank teller number or your transfer reference number to 08107015636 and A Copy of our Business plan for palm oil business plan PDF will be send to your email

So many businesses are very lucrative in Nigeria but there are over looked for one reason or other and palm oil business is among those businesses that people don’t give a second thought about and the irony is that palm oil is the most consumed edible oil worldwide. In Africa palm oil is among the most popular food ingredient also in some parts of Asia (such as in Malaysia and Indonesia).

In West Africa palm oil is on a high demand, because it is used in every home for cooking and also for other purposes. We did some research and we found out that despite the high in demand of palm oil the region produces less than 5% of the palm oil produced worldwide. The report shows that Malaysia and Indonesia are the world’s largest producers and exporters of the commodity, and West Africa is one of their biggest export markets because countries in the region are not producing enough palm oil to meet the demands of their local markets.

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The report also shows that presently the palm oil is worth hundreds of millions of dollars globally and it will only keeps on growing. So many people who are in this business are making it big time and you can tap into this lucrative market. Palm oil production business has so many opportunities for those who are interested.

Palm oil business have so many ways you can make money from it, it all depends on your capital. If your capital is small, you can buy and sell palm oil in bulk quantities. But if your capital is huge then you can start a palm oil processing company or a palm kernel extraction plant, which is by far the most lucrative palm oil business. Below is listed some step that you should take if you want to set up your palm oil processing company in Nigeria

What you need to start up your Palm Oil business

Capital; This is am important aspect when you want to start your palm oil business or any kind of business. The amount of capital you have will go a long way. And with the amount of capital will determine how large your business will be.

Find A Very Efficient Supplier; When you get a very and a liable and efficient supplier your business will thrive. This aspect you will need to take an intent survey to seek out the most efficient suppliers around. If you really have an idea on how you can find a efficient supplier you can visit an existing business owners around or going to the part of the country where there are predominantly found.

Create your market; Before going into any kind of business you have to study the market so that you have an idea what you are going into. After studying the business work n creating a niche in your area. Develop a workable and efficient marketing strategy that will help you reach out to your customers and make you a huge profits.

Storage Facilities; Palm oil can be stored for a long period of time, so this means that you need a storehouse to keep your product before or when you can sell them. You should get storage containers of different sizes to make storage easier.

Standard Palm Oil Business Plan . Get a palm oil business plan. our comprehensive business plan will assist you with all the needed ideas and plans to start a Palm Oil business. Our business plan will give you all that is needed, our business plan will help you to start a palm oil processing company. Please note that any form of Processing Business anywhere in the world is viable business and can be done on a large or small scale.

When you decide to start a Palm Oil Processing business in Nigeria is usually for two major reason;

1. To produce processed palm oil for the local market and export purpose 2. to produce kernel for marketing purpose to other company who will later process it into palm kernel oil.

The two reasons are very lucrative if you chose to go into one then it is your choice is you decide to do both still your choice, the main is that you need a well comprehensive business plan.

Our palm oil business is recently updated with current research on how to start a palm oil business, get the attention of the market, retain them and make huge profits.

Our business plan is up to date like we said before it also have the full analysis on Palm oil business in Nigeria, Palm oil large composite machines and equipment (MILL) and palm oil design and installation, the cost of palm oil, palm oil dealers. our business plan on palm oil business plan has analysis on oil palm processing equipment

1) Table of Contents

2) Executive Summary: The summary includes introduction, products and services description, marketing and sales among others

3) Company Overview: this includes

Mission Statement History and Current Status Markets and Products Objectives Keys to success Cost summary 4) Product description: All our products are described including other unique features.

5) Industry and Market Analysis

Introduction Industry analysis Market analysis Customer analysis Competitor analysis SWOT Analysis 6) Marketing Strategy

Target Market Strategy Product/Service Strategy Pricing Strategy Distribution Strategy Advertising and Promotion Strategy Sales Strategy Marketing and sales Forecasts 7) Operations

Operations Strategy Scope of Operations Operating Expenses 8) Development

Development Strategy Development Timeline Development Expenses 9) Management

Company Organization Management Team Administrative Expenses 10) Summary of Financials

Financial Assumptions Financial Forecasts Projected Cash Flow Income statement iii. Balance sheet

Profit and loss Profit Margin, chart etc Financial Risks 11) Appendices

Support for Product/Service Description (e.g., diagrams, pictures, etc.)

Support for Marketing and Sales Plan

Support for Development Plan

Support for Operations Plan

Resumes of Management Team

Financial Statements

Income Statement [3 years] Balance Sheets [3 years] Cash Flow Statements [3 years] Ratio Analysis [3 years] Other supporting financial statements

Reasons to invest in palm oil business in Nigeria

There is a very high demand for palm oil in the country with a corresponding lower supply. Palm oil is a major ingredient in most local delicacies all around the country, meaning at least every family needs palm oil. Industries also require the product in large quantities for their production processes. Yet not enough of the product is available. Palm oil can be produced locally, you do not need to break your head over importation processes and charges. It has a very flexible capital investment requirement. You do not need to have millions to start, you can begin small and then grow your business steadily. It is very healthy and thus highly recommended medically, meaning you have a huge market out there for your business. It can be exported to other countries. The product is not just in high demand in Nigeria, it is in high demand all over the world for quite an array of purposes.

OTHER BUSINESS PLAN IN NIGERIA WITH RECENT UPDATE

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Pharmacy Business Plan In Nigeria Latest Edition Feasibility Studies PDF
Cosmetics Business Plan In Nigeria Latest Edition Feasibility
Bakery Business Plan In Nigeria Latest Edition feasibility studies proposal

How to start a palm oil processing business in nigeria?

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If you want to know more information about How to start a palm oil processing business in nigeria? . pls kindly leave your phone number, We will back to you ASAP once we got your message.

008613526627860

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Product lists

Small scale palm oil mill plant

- 1-5tph complete set palm oil processing machinery
- Small palm oil plant
- Palm oil milling machines with diagrams
- Red palm oil extraction process
- Small palm oil press machine

Complete set palm oil processing plant

- Palm oil mill process
- Palm oil press production machine
- Palm oil production process
- Palm fruit sterilizer machine
- Palm fruit threshing machine
- Palm fruit digesting machine
- Palm fruit oil pressing machine
- Crude palm oil clarification machine

Palm kernel oil processing plant

- Palm kernel oil mill plant
- Palm kernel oil production line
- Palm kernel oil extraction machine
- Pko processing machine
- 0.5-2tph palm kernel oil production machine
- Palm kernel oil expeller machine
- Palm kernel cracking and separating machine

Palm oil refining machine

- Palm oil refining machine
- Small scale palm oil refining plant
- Crude palm oil refining machine
- 1-20TPD batch palm oil refinery machine
- 50-1000tpd continuous palm oil refining machine

Palm kernel oil refining machine

- Small scale palm kernel oil refinery plant
- 2tpd palm kernel oil refining machine
- Palm kernel oil refining process
- Palm kernel oil refinery process

FEASIBILITY STUDY ON PALM OIL PRODUCTION IN NIGERIA

Post author: Ane
Post published: June 20, 2017
Post category: Update
Post comments: 0 Comments

FEASIBILITY STUDY ON PALM OIL PRODUCTION IN NIGERIA

Table of Contents

Introduction:

Palm oil is a yellow butter-like oil derived from the fruit of the oil palm and used as an edible fat and by manufacturing industries in household products like candles, pharmaceutical products, confectioneries, cosmetics etc.

Various techniques may be used to process palm oil fruits for edible oil, and may be grouped into four categories according to throughput and degree of complexity of the unit operational machinery: traditional methods, small-scale mechanical units, medium-scale mills and large industrial mills. Generally, processing units handling up to 2 tonnes of fresh fruit bunches per hour are considered to be small-scale, while large-scale mills are able to process more than 10 tonnes per hour.

Usually,your feasibility study should be able to highlight all of these methods but then concentration will be on the type being projected for in the study.

FEASIBILITY STUDY:

Related to feasibility study contents are:

components of a feasibility study, project feasibility study, sample feasibility study of a project, feasibility study template, how to do a feasibility study, importance of feasibility study, types of feasibility study,feasibility study pdf.

A feasibility study is an analysis of the viability of an idea. Feasibility study answers the essential question of “should we proceed with the proposed project idea?” In fact, a feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing business or a proposed one.Feasibility study will let you identify the following before you start writing your business plan. How, where, an d to whom you intend to sell a service or product. Who are your competition. How much money you need to start your business and keep it running until it is established. Where and how the business will operate. Provide in-depth details about the business to determine if and how it can succeed, Serves as a valuable tool for developing a winning business plan. List in detail all the things you need to make the business work; Identify logistical and other business-related problems and solutions; Develop marketing strategies to convince a bank or investor that your business is worth considering as an investment. Feasibility study is always a component of Business Plan and Business Proposal

Components of Feasibility Study:

Content Page

Executive Summary

Technical feasibility

Legal feasibility

Operational feasibility

Schedule feasibility

Resource feasibility

Financial feasibility

Market research studies

This is the front/cover page.

It shows the name of the company and the Logo, the title of the feasibility study, the author, period covered and date. This page must be well designed to give good impression of what is inside of it.

(2) CONTENT PAGE :

This is the list of the topics in the document and their page references. Every item in the document must be identified here for easy referencing.

(3) THE EXECUTIVE SUMMARY

1. Introduction: this gives the summary or general highlight of all that is done in the research study.

2. Name of the business/firm

3. Nature of business

4. Business address

5. Business/study objective

7. Mission,

8. Purpose.

Take time to write these with relevant details.

(4) TECHNICAL FEASIBILITY:

This assessment is based on the design system requirements. It is to determine whether the company has or could afford the technical expertise to handle completion of the project.

The part of the business being examined
The human and economic factor involved or available
The possible solutions to the problem
The concern is whether the proposal is both technically feasible.
This has to be accompanied with relevant technical drawings, maps, designs etc. displayed.
The cost implications will only be highlighted but must be built into the financial aspect of the feasibility study.
The processing procedures such as:
The first stage: Bunch Reception: the palm will be cut from the tree in bunches .
The second stage: Threshing: cut it from the bunk and after few days it will be selected.
The third stage: Sterilization: cook the selected with an industrial pot/kettle for sterilization.
The fourth stage: fruit digestion and pulp pressing.
The fifth stage: Oil clarification (sieving).

The sixth stage: package in a container and the oil is ready for sale. After this process, the kernels and the chaff will be separated from others for domestic uses and consumption in these steps below; First stage: Nuts and fibre recovery from the threshing & clarification Second stage: Palm kernel nuts drying (using heat from sunlight) Third stage: Palm nut cracking (using kernel crusher) Fourth stage: Kernel separation (shells from nuts) Fifth stage: Kernel storage (for sales or further processing to CPKO). There are modern ways of doing these things mechanically using modern equipment. Whichever model you are using must be well explained.

(5) LEGAL FEASIBILITY:

This aspect is to determine whether the proposed system conflicts with legal requirements of the business/project. It must comply with the local protection, regulations and if the proposed venture is acceptable in accordance to the laws of the land. This will highlight the relevant regulatory bodies and laws, patent rights and other intellectual property laws involved. It will also show the cost implications if there are needs for franchise, business registration etc.

(6) OPERATIONAL FEASIBILITY:

The operational feasibility assessment focuses on the degree to which the proposed business fits in with the existing business environment and objectives with regard to development schedule, delivery date, corporate culture and existing business processes.

To ensure success, desired operational outcomes must be imparted during the planning stage. These include such design-dependent parameters as reliability, maintainability, supportability, usability, reducibility, indispensability, sustainability, affordability and others. These parameters are required to be considered at the early stages of design if desired operational behaviours are to be realized.

It will also show list of equipment needed such as:

FEASIBILITY STUDY ON PALM OIL PRODUCTION IN NIGERIA

Other Facilities:

In addition to obtaining appropriate equipment for the palm fruit processing just described above, a facility will also be needed to house the mill. It is estimated that a simple building of about 1000 square meters would be sufficient to house the equipment, and to provide room for both an office and limited storage. There will be 2 bore holes and a medium size generator to power the operations. Documentation and record-keeping would be best facilitated with a computer and printer.

(7) SCHEDULE FEASIBILITY:

A business will fail if it takes too long to be planned before it is useful. Typically this means estimating how long the business will take to start. Schedule feasibility is a measure of how reasonable the planning timetable is going to take. It is to say ‘given our technical expertise, are the project deadlines reasonable? This area shall have some topics like this.

The milestone schedule of the palm mill if the business is to start operation in 201

Initial capital to be made ready in July 2017
Purchase of the equipment must be completed in August 2017
Equipment installation must be completed mid September 2017
Test rum to be completed by September ending.
2 bore holes must be ready before September 2017
Every start-up processes should be complete between now and ending of September 2017.
Full scale production shall start 1 October 2017
For expansion purpose one additional equipment to be bought every first month from year two to year five.

(8) RESOURCE FEASIBILITY:

This involves questions such as how much time is available to build the new business, when it can be built, type and amount of resources required and the source of such funds.

The following is an illustrative table of source of funds:

This table shows that N35,000,000.00 is required for this business, and will be provided over 5 years period, and by who.

(9) MARKET RESEARCH STUDIES:

This is one of the most important sections of the feasibility study as it examines the marketability of the product or services and convinces readers that there is a potential market for the product or services. If a significant market for the product or services cannot be established, then there is no project. Typically, market studies will assess the potential sales of the product, absorption and market capture rates and the project’s timing. FEASIBILITY STUDY ON PALM OIL PRODUCTION IN NIGERIA

Therefore, this aspect of the feasibility study will show the following:

MARKETING PLAN

Marketing plan section will have sub-sections that explain the product to be sold, pricing, promotion and distribution plans to achieve good sales.

(A) PRODUCTS & SERVICES

This section will show things like; “The products include Crude Palm Oil (CPO), Crude Palm Kernel Oil (CPO), Special Palm Oil (SPO), Palm Kernel Nut (PKN), Palm Kernel Cake (PKC) and, Palm Kernel Shells (PKS). The management is looking at the products in drums (tons), and 20litre kegs. This is to enable both small, medium and large scale customers to have full access to the quantity they want to purchase”.

Other sources of product must be listed here such as:

– Would you be buying unprocessed fruits/bunches in like manner?

– Would you be processing palm fruits for third parties commercially?

– Would you be storing products – your products and those you buy from third parties to sell in future? Then you highlight the Uses Of The Finished Palm Products.

The products will be used to produce other primary and secondary products in the food and drug industry and for other industrial purposes

Cooking Oil
Deep Frying Oils
Margarines and spreads Bakery fats
Cocoa butter alternative fats
Confectionary fats
Ice cream fats Infants nutrition fats
Other food applications

2. Non Food Products

Soaps Candles
Pharmaceuticals
Lubrication and Grease Surfactants
Industrial
Chemicals
Agrochemicals
Coatings
Paints and lacquers
Electronics
Leather

Apart from palm oil, palm kernel and palm kernel oil which are the main products of the oil palm, the processing wastes generated from the trees and during palm fruits processing (to obtain palm oil and palm kernel oil) have several uses. The sludge is used in making traditional soaps and fertilizer and the Palm Kernel Cake is used widely as an input into the animal feed industry and for fertilizers. The processing wastes include empty bunch refuse, fibre, shell, sludge and mill effluent.

In addition, the other parts of the palm tree (trunk, leaves, fibre) have broad uses, while the bunch refuse, and by-products from the oil processing (fibre, shell, sludge) can be used as fuel for the mills, making briquettes to substitute for fuel wood,

(B) PRICING

This section discusses the pricing plan for the products that will be processed..

PRICING OF PALM OIL

The pricing of palm oil is seasonal. You have to show in a table like the one below, how oil palm prices fluctuate between the season period and the off season period, and the category of buyers. Use your own researched figures.

A proper feasibility study will reveal all these and will give you the basis for estimating your sales/turnover for the period in question. You will do the same for all other products and by-products of palm oil.

The pricing of palm kernel and palm kernel oil is also seasonal depending on the supply of palm fruits. Prices can also nearly double between peak production season (when prices are lowest) and the off season when prices are higher. Consider the following tentative prices.·

(C) PROMOTIONS PLAN :

Consider the following statements; “although the company’s current contacts in the palm oil product chains are for local consumption, expansion to every part of Nigeria and other countries (for exportation purposes) is quite likely in the foreseeable future. The unique marketing approach of using local and foreign distributors, and customer awareness will be maintained using T.V, Radio and Online advertising. Direct researcher/sales personnel will be available in the Company; this is to enhance first-hand information on what the customers are seeking especially in cities and state. The management will develop a fully loaded website highlighting the palm oil processing mills, technical analysis of production process and the organizational chart of the company’s management”.

You must use this medium to explain how you intend to market your products, including your distribution plans.

(10) FINANCIAL FEASIBILITYThis part deals with cost estimations, revenue estimation and financial/investment analysis.

The financial viability can be judged on the following parameters:

Total estimated cost of the project
Financing of the project in terms of its capital structure, debt to equity ratio.
Existing investment by the promoter in any other business – eg industry average.
Projected cash flow,
Profitability ratios like gross profit margin, net profit margin and rate of return on investment (RIO).

– Full details of the assets to be financed and how liquid those assets are.

– Project’s funding potential and repayment terms. Remember a feasibility study is a survey. Information as the following are necessary here:

State the assumptions you are making in order to carry out this survey. All things being equal, it is hoped that based on these assumptions your estimates would be realised. Where the result of this study is not favourable and there is need for adjustments, all of these would also be adjusted. 1.The revenue items including palm oil products are assumed to increase during peak time – you can estimate the per cent-age increase.

2. Sales and related marketing expenses are expected to increase by 20% each year due to expected increase in palm fruit supply from third party customers. 3. The registration cost and other start-up processes costs are assumed to be incurred in year one alone.

4. The total cash needed to start up and run the company is N35 million to be provided over the first 5 years.

5. Where bank loan is sought for, interest will be charged at commercial rate.

6. Taxes shall be on the balance sheet of each year

BASIS FOR FINANCIAL ANALYSIS AND PROJECTIONS:

These are assumptions that relate to financial projections and analysis. You must state them.

1. TAX deduction is 30% taking advantage of tax incentives for agriculture and agro-allied firms. 2.Depreciation is charged on all the tangible capital items on a straight line basis on the following; · Building 2% · Motor Vehicle 25% · Plants and Machinery 25% · Furniture’s and Fittings 20% · Amortization of intangible capital items are absorbed at 20%.

4. Borrowing rate is at current commercial lending rate. 5. The accounting records are in accrual basis. 6. Every expenditure incurred in the first three years is capitalized and amortized/depreciated accordingly. You can add more to suit your study.

It is time to go ahead producing relevant tables to buttress your findings and analysis. Such tables could include the following:

FEASIBILITY STUDY ON PALM OIL PRODUCTION IN NIGERIA (i) TABLE SHOWING CAPITAL EXPENDITURE FOR OIL MILL FACTORY AND ADMIN BLOCK

The analysis of this revenue estimates must be shown. Remember they are to be generated by your marketing feasibility study. Now you can understand that there are various feasibility studies to be incorporated in this one feasibility study.

ANNUAL DEPRECIATION OF FIXED ASSETS:

Sample of Schedule of Annual Depreciation: The table shows the cost of the depreciation of fixed assets over the projected years. Tangible Fixed Assets will be depreciated as per normal depreciation rate for such assets, while intangible assets ( other capitalized expenses) will be amortized over 4 years from the year of revenue earning. You could decide that the amortization rate adopted be 10%, 20%,30% and 40% for year 1 to 3 respectively or amortized on equal basis for the specified period.

These are the start-up expenses capitalized, which must be amortized as per the entity financial policy.

(11) FINANCIAL ANALYSIS:

This part will now be used to analyze the entire operations financially.

This shows that this project pays back in 5 years.

13 CONCLUSION :

This will carry your recommendations based on the feasibility study. Your recommendation could be to go ahead with the project, stop the project, modify the project or any other alternative.

Note also that these tables can be converted to graphs, bar charts, pie charts etc. for better illustration.

Now you can write your business plan, or business proposals. In addition to giving a comprehensive report based on this study, you can also attach some of these reports as part of the business plan main body or as appendix.

GOOD-LUCK – You can now write your business plan on palm oil production. You can make contacts for professional attention if you have need to do so.

Your comments are welcome. You can also make contributions by writing articles which will be edited and published in your name. Click any of the social media platforms on top of this page to like us or to follow us. Maintain a continues link with us by filing the Contact us by email platform too.

Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.

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THE PALM KERNEL OIL EXTRACTING BUSSINESS PLAN

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Groundnut Oil Business Plan in Nigeria

Groundnut Oil Business and Financial Plan

Our Groundnut Oil Business Plan in Nigeria is well documented and can also be used for, but not limited to:

Grant Applications,
Bank Loans,
Proposal writing,
Business Concept Note,
Competitions e.t.c

Purpose of the Groundnut Oil Business Plan in Nigeria

Purpose	Description
1. Grant Applications	Seeking financial support from grants
2. Bank Loans	Securing loans from financial institutions
3. Proposal Writing	Crafting business proposals
4. Business Concept Note	Outlining the core concept of the business
5. Competitions	Participating in business competitions
6. Investor Presentations	Pitching the business to potential investors
7. Strategic Planning	Developing long-term business strategies
8. Marketing Initiatives	Planning and executing marketing campaigns
9. Regulatory Compliance	Ensuring adherence to legal regulations
10. Expansion Strategies	Planning for business growth and expansion
11. Partnership Proposals	Proposing collaborations with other businesses
12. Research and Development	Conducting R&D activities
13. Employee Training	Training employees on various aspects of the business
14. Stakeholder Communication	Communicating with stakeholders
15. Sustainability Initiatives	Implementing eco-friendly practices
16. Industry Analysis	Analyzing the industry trends and dynamics
17. Market Research	Gathering data on market trends and consumer behavior
And More	Additional uses beyond those listed above

Benefits of the Groundnut Oil Business Plan in Nigeria

The Groundnut Oil Business Plan in Nigeria is beneficial because

It helps in outlining the steps needed to achieve the business goals and ideas.
It helps to articulate strategy to stakeholders who support the business.

Importance of the Groundnut Oil Business Plan in Nigeria

The Groundnut Oil Business Plan in Nigeria is important because

It will assist you in making sound decision in the administration of the commercial enterprise which will make a contribution to the success of the business.
It will additionally gives distinctive statistics on all components of the business, outlining the business desires and the steps required to achieve them.

Content of the Groundnut Oil Business Plan in Nigeria

Executive Summary
Introduction
Business Description
Keys to Success
Products and Services
Market Analysis
Our Target Market
Pricing Strategy
Competitor Analysis
Sales and Marketing Plan
SWOT Analysis
PEST Analysis
Operational Plan
Management plan
Financial Plan and Projections
Financial Diagnostics

Download The Complete Groundnut Oil Business Plan in Nigeria

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Garri Processing Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Agriculture Sector » Agro Processing

Are you about starting a garri processing company? If YES, here is a complete sample garri processing business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting a garri processing business. We also took it further by analyzing and drafting a sample garri processing marketing plan template backed up by actionable guerrilla marketing ideas for garri processing businesses. So let’s proceed to the business planning section.

Garri is one of the most staple Nigerian diets because not only is it cheap, but it is easy to make and can be taken in majorly two ways that are fast to prepare. Those in the garri business know that this is the fastest way to make money especially in the agro processing industry.

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While the business is one guaranteed to bring a lot of money for any entrepreneur, it is however not an easy business and is highly capital and labor intensive. To start this business, you would require previous experience in the field or simply carry out a thorough research that will enable you know what is needed in the course of starting and running the business.

If you do not have an inkling of how a business plan is written. That is fine because you can use an existing template to start working on yours. Below is a sample garri processing business plan that should aid you in writing your own business plan;

A Sample Garri Processing Business Plan Template

1. industry overview.

Cassava, the raw material used to make garri is a source of food to nearly three quarter of the world population. The crop is regarded as a staple diet in most developing countries in the world, and is ranked the third after rice and maize. Cassava is popular because it can grow even the poorest conditions (poor soil and inadequate rainfall).

Nigeria is the largest producer of Cassava in Africa; producing over 41 million metric tons per annum, followed closely by the Democratic Republic of Congo. Most Cassava used in Nigeria are grown in the Southern parts of the country (South West, South- south, and South East) and in the Middle Belt and are mostly used to meet domestic demands within the country.

Globally however, Thailand is the largest producer of this crop as they produce and export cassava products worth over $20 billion annually.

This therefore makes Garri one of the major products from processed cassava the staple food for almost all Nigerians, as about 75% of Cassava is processed into Garri. According to statistics, about 130 million people – both in rural and urban areas – consume 12 million tons of garri annually.

This is the reason why most entrepreneurs are going into the garri processing business especially as this product is recession proof. The recent economic downturn in the country has seen more and more people turning to Garri.

According to reports, any entrepreneur going into this business will make immense profit, as the reports show that demand for this product is not only stable but increasing even though there are few close alternatives to Garri.

Garri can be consumed in two ways – the cold process and the hot process, and while there is no substitute for the garri consumed via the cold process method, the few substitutes available for garri taken during the hot process are expensive, which leaves consumers with no alternative than to stick to garri.

Also, another factor in favor of the garri demand is the growth the population which has pushed the demand for garri and has also caused more garri processing businesses to crop up to be able to meet the growing demand.

2. Executive Summary

Koko Quality Garri Processing Ventures is a business that has been registered under the Corporate Affairs Commission (CAC) and also legally licensed by the National Agency for Food Drug Administration and Control (NAFDAC) here in Ogun State. We have also acquired the necessary licenses needed to run a plant without running afoul of the law here in Ogun State.

Our aim of starting this business is to ensure that our clients both domestic and international get processed garri of the finest quality. We intend to process for sale white garri (Ijebu and normal) and yellow garri so as to be able to cater to our teeming customers.

We know how vital it is to be located in a place that is convenient for both our customers and employees. Our garri processing plant therefore is located in a conspicuous area and close to the road, which makes the location very strategic for our suppliers and distributors as well as our customers.

This fact alone we know is enough to make us become the leading brand that we hope to become in the industry. Due to our desire to attain and retain the leadership position amongst our peers in the industry, we intend to pursue excellence both in the processing and delivery of our processed garri to customers.

Due to this fact we intend to hire and train only the best employees who will be able to deliver our vision and communicate our brand to our existing and potential customers.

We also know how valuable our customers are to us and so we intend to treat them right by offering them excellent customer service of a standard never seen before in this industry. Our clients will be able to reach us physically and even online as we will be available through all avenues to be able to attend to their inquiries, orders, suggestions and complaints.

Koko Quality Garri Processing Venture is owned and managed by Alhaji Taofeek Lateef with input from several member of his extended family. Alhaji Taofeek Lateef will be involved in the day to day operation of the garri processing plant.

Alhaji Taofeek Lateef has a B. Sc in Agric Economics from the University of Ilorin and is presently running an MBA from the University of Ibadan. He has vast experience in the agro processing industry and will therefore bring his knowledge to bear in this business.

3. Our Products and Services

Koko Quality Garri Ventures is a business that has been licensed by the National Agency for Food Drug Administration and Control to process garri that will be used in households as well as in commercial places.

We have also registered with the Corporate Affairs Commission and have fulfilled all other necessary obligations that will enable us make profit and grow as a business. Some of the products and services we intend to indulge in as a business includes;

White garri (Ijebu and normal)
Yellow garri
Consultancy Services
Training and Coaching

4. Our Mission and Vision Statement

Our vision is to be the preferable garri for customers in Ijebu, Ogun and the whole of Nigeria as well.
Our mission is to ensure we process garri of the highest quality using the best machines and resources. We also intend to ensure that our processed garri does not only meet the needs of our household clients but become a profitable business for our partners and distributors.

Our Business Structure

Knowing how our vision is to be the most preferable garri for our customers, we have decided to ensure that we draft a business structure that will allow us not only achieve all our intended goals and objectives but also enable us build a solid business foundation as well.

One of our top priorities is to ensure that we hire the best professional hands that have the required necessary experience, are dedicated and that will ensure that the business runs smoothly. We intend to ensure that our employees get the best training obtainable in this industry and also have welfare packages that will place our companies as one of the best places to work in.

We also intend to provide excellent customer service by hiring those with the experience of handling customer orders and complaints efficiently. We know how important it is to get the right fit for this task as they will be communicating and representing the brand to our various customers.

Those we intend to employ to handle various tasks with assigned roles and responsibilities for the growth of Koko Quality Garri Ventures include;

Managing Director

Admin Manager

Marketing and Sales Executive

Purchasing Manager

Accountant/Cashier

Store Manager

Front Desk Officer

Security Guard

5. Job Roles and Responsibilities

Makes strategic decision on behalf of the company and ensure its implementation
Represents the company especially in areas of contracts and negotiation with high level clients
Controls overall resources and expenditures
Ensure that the business is financially secured
See to the day-to-day running of the business
Handles the sourcing and recruitment of able hands to run the business
Communicates the vision and corporate culture of the business to employees
Sees to the welfare and promotion of employees
Create a workable marketing strategy and plan for Koko garri business
Develop a workable budget in collaboration with the Managing Director and Accountant
Responsible for using conventional and non-conventional means to attract clients
Carry out market research so as to have a better understanding of the target market
Sources for reliable vendors and suppliers for the business
Prepare purchase orders and requisitions on behalf of the company to suppliers and vendors
Maintain accurate report of goods ordered for and those received
Develop a workable budget for the purchasing department in collaboration with the Managing Director and Accountant
Carry out a thorough analysis of the income and expenditure of the business
Works with the Managing Director to prepare a workable budget for the business
Resolve discrepancies that have occurred by reconciling bank statement with cash statement
Work with the purchasing manager and offer advices and suggestions where necessary
In charge of store and inventory by keeping an accurate logbook detailing stock levels
Ensures that the store is conducive and well maintained
Ensures that the racks and shelves are stocked properly so that products do not fall off unnecessarily
Ensures that the store is well secured to prevent theft
Promptly answers phone calls of customers either for orders or inquiries
Responsible for scheduling necessary appointments
Ensures that guests sign in and out so as to verify their identity
Acts as a liaison between management staffs and clients
Responsible for securing the premises and properties of Koko quality garri processing venture
Prevent any security related incident from occurring especially within official premises
Report any suspicious activity to the relevant department
Be alert at all times especially at entry and exit points within the premises
Ensure that the premises is kept clean at all times
Ensure that the restrooms are clean for staff and customers
Replenish restroom with necessary facilities
Report broken or spoilt facilities to management
Ensure that the products are transported and delivered to its proper destination
Keep detailed records by maintaining a log book recording distance traveled and fuel consumed
Ensure that van is in good shape to take the journey
Carry out regular maintenance and light repairs on the delivery van

6. SWOT Analysis

Even though garri might be a very popular food taken by almost anyone, starting the business and becoming profitable is another ball game altogether, as this is a business that is both capital and labor intensive. Since we have the required cash in starting and operating the business, we also intend to hire the best hands that will help run the business profitably.

However, just like any business out there, we know that we have certain strengths that will ensure we become industry leaders, and several weaknesses that we would need to work on if we intend to become successful.

To this end, we hired a reputable business consultancy firm to carry out a critical examination and help us identify these traits (strengths, weaknesses, opportunities and threats) so that we might avoid certain pitfalls as a young business. Below is a of the critical SWOT analysis that was done on behalf of Koko Quality Garri Processing Ventures;

Our location in Ijebu, Ogun State is one of our greatest strengths as it means we are close to mega cities like Lagos State which is a thriving market, as well as other important states.

While most garri processing businesses focus on producing only Ijebu garri or plain white garri, we are going a step further to ensure we produce yellow garri as well, this action alone has attracted more customers to our business and give us leverage over our competitors in the same industry.

Also, in addition to our products, we offer training and consultancy services for small scale start-ups. Our other strengths lie in the fact that we have employed the best hands in the industry, who not only understand the garri business perfectly but also understand our vision and working towards it as well.

Our perceived weakness stems from the fact that we are operating in just one location which will seriously limit our vision of supplying to our target markets all over Nigeria. However, we are determined not to see this as a business, as we intend to expand as soon as we have begun making profit and are stable enough.

Opportunities

Due to the fact that we are amongst the first garri processing businesses to offer more than white garri, this has cemented our role in front and has led to many start-ups requiring trainings from us, which will help boost our revenue base, especially as most of them are not close competitors.

This has also led us to consider the benefits franchising might bring to us in the near future, should we continue getting requests such as these.

Our threats are not really that significant, as there are really no government policies or economic downturn to worry about, but like every business, we take all threats seriously, and intend to act proactively to reduce or eliminate the threat.

The threat facing our business will be from having a strong competitor operating same products from around the same location.

7. MARKET ANALYSIS

Market Trends

Garri is one of Nigeria’s staple diets and is taken in every home. If you intend starting your own garri processing business, then you will need a land where you will not only install your facility, but it must also be near as possible to your source of raw materials – which for this instance is the cassava farm.

This will help decrease the costs that will be spent on transporting your necessary raw materials from a very far location. Also, you would need to ensure that your facility is hygienic as well as conducive enough for your employees as well as the clients that would want to visit for business purposes.

A trend in the business is having several storage facilities in strategic locations all around Ogun State and Nigeria in general; this is so as to be close to customers, increase awareness about the brand and also increase patronage for the business, thereby boosting revenue.

8. Our Target Market

The target market for garri is very huge as almost every home and everyone takes this product. However, more people are likely to take one color of garri than the other depending on their location. We intend to carry out a thorough market survey that will allow us determine the quantity that would be needed to be processed for each color of garri.

Even though almost everyone takes garri in one form or the other, we are still required to market our product so as to become a preferable brand to our customers, either existing or potential. Our target market includes; households, schools, restaurants, hotels, caterers, students, single males and females.

Our Competitive Advantage

Every business that is established with the intention of making profit and intends to compete favorably with others in the industry knows that it needs to draft competitive advantage strategies that will enable it to have an upper hand over other businesses in the same industry.

Having a competitive advantage means knowing what aspects of our business are our strengths and would give us the needed advantage we would need.

One of our major competitive advantages is in our hiring or the best professionals in the industry who understands the garri processing business and has keyed into our vision of becoming the best in the agro processing industry. Our professionals will work in the best environment and have enviable welfare packages.

Also, we intend to constantly train our professionals so that their skills can be enhanced which will invariably lead to higher productivity that will be beneficial to the company in the long run. Our excellent customer service is one of our primary strength that will ensure we have competitive advantage over our competitors.

It is a well known fact that most Nigerian businesses do not invest in their customer service. However, we at Koko quality garri processing ventures know that a good customer service will increase the retention rate for our company by over 80%.

Our customer service executives are the best in the field and have a vast knowledge of garri and so will be able to inform customers, attend to requests, orders and complaints promptly and efficiently.

We intend to participate in community programs and school events as a way of getting close to our customers. We know that once customers identify with our efforts at integrating into the community through social participations, then patronage towards our business will increase.

Lastly, we intend to effectively deploy the use of the internet by using our websites and social media platforms to give customers tips and engage our customers in discourse that will further better our industry and even our customers as well.

9. SALES AND MARKETING STRATEGY

Sources of Income

Koko Quality Garri Ventures like any other business is established with the aim of making profit. However, our profit generation will not only come from one source as we intend to exploit other different means so as to increase the revenue base of our company.

Our main focus while diversifying will still be garri processing. Koko Quality Garri Ventures intends to generate income from the following sources;

Sale of processed white garri (Ijebu and normal)
Sale of processed yellow garri

10. Sales Forecast

While garri might be a staple diet taken by almost everyone, we are however aware of the fact that everyone cannot buy from one source, this does not mean that there aren’t garri processing businesses that have a large share of the market than others.

These businesses have certain factors going for them, chief of which is location. We therefore after having carried out various feasibility studies, have seen that our location is favorably suited to increase our sales.

Another factor in our favor is the fact that most garri processing businesses in Ogun State and around process only white garri (Ijebu and normal) which limits them to just certain segments of the market. However, our additional product (yellow garri) is guaranteed to not only enlarge our revenue base but also ensure we make enough profit to run our business without external injection of funds in the first three months.

Our sales forecast was carried out critically by a reputable business consultant that was hired for this purpose. The sales forecast is based on information gathered from other already established business and start-ups both in the garri processing industry in Ijebu, Ogun State.

Based on location, the sales projection for Koko Quality Garri Processing Ventures is stated below:

First Fiscal Year-: N5,500,000
Second Fiscal Year-: N9,000,000
Third Fiscal Year-: N16, 000,000

N.B: The above sales projection is totally in line with what is obtainable in the industry. The projections are also based on the fact that all factors that were considered during the analysis remain constant – such as the economy, lack of strong substitutes, and the arrival of no major competitors. Also, it is worthy to note that at any given point in time, the above projections might be higher or lower.

Marketing Strategy and Sales Strategy

Marketing is a very important aspect of any business, for without marketing a business can fail. Marketing has a double advantage as it not only generates revenue for the company but also ensures that awareness is created for the company directly or indirectly.

It is therefore important that marketing strategies be drafted before a business becomes operational. During the course of running the business, these strategies would need to be constantly monitored and reviewed, with the less effective strategies being dropped or modified by the Managing Director in collaboration with the marketing and sales team for the growth of the business.

At Koko Quality Garri Ventures, we intend to ensure that we adopt several marketing strategies towards ensuring that our existing customers are aware of our drive towards success. Also, our sales strategies will be done in such a way as to ensure we penetrate the market, therefore creating a wider reach.

To achieve this, we intend to ensure that we develop just the right strategies that will not only keep our loyal customers glued to us but also attract new customers as well. Some of the marketing sales strategies that we intend to use are:

Place adverts in local newspapers as well as in local radio stations about our garri
Visit markets and introduce Koko quality garri to garri traders (wholesalers and retailers)
Throw a unique opening launch party that will attract interest
Use our official website to vigorously promote our garri processing business
Empower our marketing and sales team to positively push and better communicate our brand to customers
Create unique and engaging handbills and distribute them in strategic locations
Engage in one on one marketing
Encourage our loyal customers to refer us to others
Mae use of our social media platforms to promote our products and services

11. Publicity and Advertising Strategy

Due to the fact that almost everyone takes garri, there have sprung up many garri processing businesses all striving to get a share of the market.

Even though we believe that our products and services are uniquely different from that of our competitors, we still believe that we would need an intense publicity so as to ensure increased customer awareness and also increase our earnings therefore solidifying our spot amongst the leading brands in this industry.

We know how important it is however for us to ensure that we are well known in Ijebu, Ogun State before spreading our wings and expanding to other states and invariably, the whole of Nigeria.

Therefore, most of our publicity and advertising strategies would first be focused on Ogun State where we not only intend to increase awareness about our products and services to existing and potential customers but also ensure that our activities leave our business etched in the mind of the public.

Some of the platforms we intend to use in publicizing and advertising our garri processing business include;

Using our van in road shows to tell people in targeted areas about our products and services
Placing adverts in local newspapers and on radio stations
Distributing fliers and legally posting same in strategic points
Sponsoring school and community relevant activities
Creating a website and using the platform to increase awareness of our existence
Using social media platforms such as Facebook to promote our products and services as well as engage our audience
Use recognized holidays to organize socially relevant programs
Ensure that all our staff wear customized tee shirts that will allow customers know of our business
Create a unique logo and slogan that can be easily remembered by existing and even potential clients

12. Our Pricing Strategy

Setting the right price for a product is very important as this can either draw more customers to one’s business or make them go to over to competition instead.

Garri is priced depending on the quantity that is bought by the customer. We intend to have different pricing options for our bulk buyers and our normal buyers. We do not intend to charge higher than what our competitors are currently offering neither do we intend to charge too low so as not to cause an unnecessary price war.

Our pricing will also be done in such a way that all our costs – overhead and running expenses – are adequately covered, so that we do not run at a loss. We would however consider selling a bit lower than current market price in our first few months of operation, so as to attract more customers to our business.

Payment Options

At Koko Quality Garri Venture, we intend to ensure that we have a payment policy that caters to all our different customers regardless of the category. Our payment options are in line with the financial regulations of the Ogun State government and that of Nigeria as a whole.

The payment options that we intend to make available to our teeming customers include;

Payment via Point of Sale (POS) Machine
Payment via Cheques
Payment via Cash
Payment via Bank Transfer
Payment via Bank Draft

Because we always have the convenience of our customers in mind, we have carefully chosen platforms with our ban which has a great reputation that will ensure that our products and services are paid for without stress to either us or our customers.

13. Startup Expenditure (Budget)

Setting a budget before a business becomes operational is very vital. The budget allows an entrepreneur know what exactly would be required for the business to become successful and where to allocate resources to.

While it might be in one’s favor to find out what the general start-up budget is for this kind of businesses, it is also pertinent to note that our own budget might eventually be lower or higher depending on several factors such as location, existing government policies and economic conditions.

However, since our intention is to start on with low costs when necessary, we intend to ensure that some of the equipment we would need to use are gotten at fairly used. We do not intend to get the main processor as fairly used as we want something that would last us for a very long time.

Some of the requirements we would need to fulfill in order to successfully start our garri processing business are;

Fees for incorporation and other legal requirements – N100,000
Obtaining of licenses and permits as well as accounting software – N150,000
Insurance coverage (general liability, property insurance and workers’ compensation) – N50,000
Facility rent for a year and renovation – N350,000
Operational cost for at least three months (employees’ salary, bills payments) – N250,000
Cost of purchasing and installing garri processing equipment – N3,000,000
Cost for start-up inventory (Cassava, Palm Oil) – N800,000
Cost of storage facilities (racks, ventilation) – N100,000
Cost of hiring business consultant – N50,000
Cost of fairly used distribution van – N800,000
Other start-up expenses (furniture, phone, computer, printers, stationeries) – N200,000
Marketing budget (for promoting launch activities and the business generally for at least a year) – N150,000
Cost of launching a website – N30,000
Cost of garri processing plant launch – N50,000
Miscellaneous – N50,000

Based on the above estimate, we would require at least N3.2 million in order to successfully start and run a standard garri processing plant in Ijebu, Ogun State. The amount accounts for all expenses for at least three months to a year, which includes employee’s salaries and other operating expenses.

Generating Funding/Startup Capital for Koko Quality Garri Processing Business

Having the required start-up capital for any business you intend starting is very essential. Any entrepreneur who does not have the capital necessary to start a business might see his business idea remaining just a dream and not becoming a reality.

The necessity of having finance is also necessary so that the business can run smoothly, and generate enough money to fully run itself.

Koko Quality Garri Ventures is a business owned by the Lateef family, an entrepreneurial family with businesses in various industries. This has always been regarded as one family business that do not intend to source for external investors. However, due to growth and expansion plans, we intend sourcing for capital from just two sources.

The areas which we intend to source for start-up capital for our business includes;

Sourcing for loans from family members
Sourcing for loans from Micro-finance bank

N.B: Having been able to generate N3.2 million from family members, we were able to get approval for the sum of N3,000,00 from a reputable micro-finance bank with a good interest rate and repayment option that will not stifle the growth or our business.

14. Sustainability and Expansion Strategy

Every established business’ aim is to make enough profit that will sustain the company and also ensure that growth and expansion takes place. However, before we can make this profit, we know that certain factors need to be in place to ensure that we have a chance at sustainability.

The reason why most businesses exist is because of its customers, as without having any customers, one’s business might not only remain stagnant but fail in the end, because customers inject money into the business that will keep it running.

Due to this fact, we intend to ensure that we treat our customers right by ensuring we promptly attend to their requests, orders and complaints. We also intend to ensure that our loyal customers and those who refer us are given discounts on certain quantity of garri they buy from us.

Having customers isn’t enough, but hiring the right people into the right positions is also paramount to us. Our employees will not only be professionals with vast experience, we also intend to ensure that they have the best welfare package necessary to improve their productivity, and also the best training to enhance their skills and make them better than their peers in the same industry.

Aside having the required start-up capital necessary to start the business, we know that if the above factors are correctly done, we will be successful at not only sustaining the business and also expanding the business in the long run as well.

Check List/Milestone

Business Name Availability Check:>Completed
Business Registration: Completed
Opening of Corporate Bank Accounts: Completed
Securing Point of Sales (POS) Machines: Completed
Opening Mobile Money Accounts: Completed
Opening Online Payment Platforms: Completed
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Conducting Feasibility Studies: Completed
Generating capital from family members: Completed
Applications for Loan from the bank: In Progress
writing of business plan: Completed
Drafting of Employee’s Handbook: Completed
Drafting of Contract Documents and other relevant Legal Documents: In Progress
Design of The Company’s Logo: Completed
Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
Recruitment of employees: In Progress
Creating Official Website for the Company: In Progress
Creating Awareness for the business both online and around the community: In Progress
Health and Safety and Fire Safety Arrangement (License): Secured
Opening party / launching party planning: In Progress
Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
Purchase of trucks: Completed

IMAGES

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FEASIBILITY STUDY ON PALM OIL PRODUCTION IN NIGERIA

FEASIBILITY STUDY ON PALM OIL PRODUCTION IN NIGERIA

Introduction:

FEASIBILITY STUDY:

(2) CONTENT PAGE :

(3) THE EXECUTIVE SUMMARY

(4) TECHNICAL FEASIBILITY:

(5) LEGAL FEASIBILITY:

(6) OPERATIONAL FEASIBILITY:

(7) SCHEDULE FEASIBILITY:

(8) RESOURCE FEASIBILITY:

(9) MARKET RESEARCH STUDIES:

MARKETING PLAN

(A) PRODUCTS & SERVICES

(B) PRICING

(C) PROMOTIONS PLAN :

(10) FINANCIAL FEASIBILITYThis part deals with cost estimations, revenue estimation and financial/investment analysis.

ANNUAL DEPRECIATION OF FIXED ASSETS: