BLACK SOAP PRODUCTION BUSINESS PLAN IN NIGERIA
Black Soap Production Business Plan in Nigeria
This sample Black Soap Production Business Plan in Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Notes, Competitions, etc. Black Soap Production Business Plan is a lucrative business that needs a lot of strategic planning to start and a business coach like Dayo Adetiloye to help you start the Implementation.
Business Description of Black Soap Production Business Plan in Nigeria
Business: BLACK SOAP PRODUCTION
Industry: Fast-Moving Consumer Goods (FMCG)
Patilad Soap is a new Black Soap Production outlet located in Abeokuta, Ogun state. This location was chosen because it is an industrial neighbourhood, home to numerous other industries, and does not obstruct locals or daily life. All industrial activities in this region have government approval, and the area has good highways that will help with the distribution and transportation of raw materials and other goods.
Patilad Soap specializes in the commercial production of black soups. Additionally, we have an organized training division that provides services to young entrepreneurs, including students and new graduates. To accommodate these people, the cost of training has been fixed to be very reasonable. The training session takes up to six weeks with rigorous practical training sessions.
The Nigerian FMCG industry is one of the best-performing industries in the country despite the economic downturn. Given that the population of Nigeria is growing quickly, soaps are currently in high demand. One obstacle does exist, though: more than 50% of Nigerians do not have high purchasing power. This indicates that there is a demand for cost-effective, high-quality soaps. We at Patilad Soaps see this as a chance to dominate the market.
The market for black soap is expected to grow significantly between 2021 and 2025. The market expanded steadily in 2020, and due to key players’ increasing adoption of strategies, the market is anticipated to grow throughout the anticipated time frame. Overall, Nigeria is a market with widespread opportunity, as the population of the country is young and growing.
Black soap is obtained from saponification reaction of fat and alkali. Various raw materials such as tallow, lard coconut oil, palm oil, palm kernel oil are used for soap production. It is a popular body washing product with additional advantages over normal toilet soaps; having moisturizing and healing effects on the skin caused by exposure to sun and bacteria or fungi. They are therefore, indispensable items as a daily requirement in homes.
Patilad Soap is committed to satisfying customers by providing a broad selection of high-quality and competitively priced products with exceptional customer service. Our focus is to create an environment that is warm, friendly, and clean. Our business is structured for relevance in both the local and domestic markets with the main objective of promoting the nutritious value of raw food.
Both the Nigerian market and the global market are the target markets for our products. Our prices are affordable, and our customer care is second to none. Our target audience includes households, wholesalers, retailers, hotels, hospitals, restaurants, laundry Owners.
The benefits of our products and services are;
- The provision of quality black soap that are healthy for all skins
- Excellent customer care services.
- Lowest possible prices.
Our Products and Services
The licensed soap production facility operated by Patilad Soap will make black soaps that will be sold not only in the local market but also across the entire nation. We shall take all necessary measures to ensure that we are profitable and offer our clients value while acting in accordance with the federation’s authority and the requirements of the relevant judicial and regulatory agencies.
Below are our products;
- Bar Soaps
- Consultancy services
Keys to Success
The keys to success for the Black Soap Production business include:
- Good retail location in a residential/business area.
- Hygienic and neat environment
- Online presence
- Maintain low operating costs
- On-time delivery
- Availability of good products
- Excellent customer service
- Competitive pricing.
- Efficient distributor network
After doing extensive research, we’ve come to the conclusion that achieving company objectives is essential. Realizing them is equivalent to realizing the organization’s mission and vision statements. Consequently, these are our corporate goals:
- Constant improvement in sales volume, which will result from steady production.
- Attaining customer satisfaction so that we can ensure that more than 60% of customers become loyal to our brand.
- Continually work on the production process to ensure that we can provide cheaper quality products to the public.
To become the one-stop company for anything black soap within Nigeria and to be recognized on the continent as a quality producer of soaps.
To become one of the biggest producer of black soap in Nigeria within the next five years.
- To make raw Black Soap Production to be accessible in both the local and domestic markets.
- To ensure that our products are produced with utmost care and suitable for all skin types.
- To make our price rate accessible and affordable.
Management Team of the Black Soap Production Business Plan in Nigeria
Pelumi Agunbiade: She has over nine years of experience in the FMCG industry, having worked for some leading brands in Nigeria. She has a B.Sc. in Pure and Applied Chemistry from Ladoke Akintola University of Technology (LAUTECH). She is an alumnus of the Enterprise Development Centre (EDC) of the Lagos Business School (LBS).
Mr Dayo Adetiloye – (B. Agric., MBA, and PMP): He has over 15 years of experience in business management, business start-up dynamics, financial management of the business, and overall business growth and development. He is an alumnus of the Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan African University (PAU). He is our business development strategist and a strategic partner.
We brought to the business:
- Academic skill and practical experience in the black soap production business.
- Capacity to consistently provide high-quality products all year round.
- Good understanding of the market trend.
- Our staff brings operational, marketing, and promotional skills to the business.
Management experience gained for the Black Soap Production Business Plan in Nigeria.
With over seven years of experience in the FMCG Industry and numerous exposures to both the scientific and practical aspects of owning a black soap production factory, I’ve been able to master the technical requirements, financial management, staff recruitment, and organization skills, among other things necessary to give the industry good commendation from our customers.
My managerial skill has also helped me put together a workforce for over 5 years, which will also help me coordinate the teamwork in most aspects of the company.
I am the CEO of the company overseeing the day-to-day activities of the business.
Competitor Analysis for Black Soap Production Business Plan in Nigeria
People buy from us because of the following reasons:
- Availability of healthy black soap production
- Excellent customer care services.
- Provision of quality products
- Lowest prices and discount offers.
Swot Analysis for Black Soap Business in Nigeria
We developed a SWOT analysis for our organization after using the services of a business expert. After discussing our business concept, we were able to evaluate the idea’s potential jointly. We were also able to evaluate ourselves to make sure we were prepared to manage a regular soap production firm without being outcompeted by rivals.
STRENGTHS: Getting competent talent on our team has always been a major focus for us at Patilad; we have a strong and competent technical team with deep sector expertise in soap-making and growth strategies. Also, our strength lies in the proposed distribution network and impeccable customer feedback.
WEAKNESS: As a new start-up and player in the industry, our only weakness is the immediate ability to compete for market share with the already existing big companies in the FMCG Industry.
OPPORTUNITIES: Opportunities are unlimited to the business itself, and this is also bolstered since soaps are always needed, and their importance cannot be undermined
THREATS: Government policy and regulation and economic crises reduce the purchasing power of our customers; nevertheless, this will not amount to a total shutdown in the usage of soaps.
- The cost of research and development for incorporating innovative technologies also involves huge costs.
- Intense competition from our rivals is another danger, but they won’t pose as big of one after we’ve won the support of the public.
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