Executive Summary of Groundnut Oil Business Plan in Nigeria.

Executive Summary of Groundnut Oil Business Plan in Nigeria.

Overview

PATILAD Groundnut Oil is a start-up groundnut oil production and processing farm that is involved in sales and distribution of quality and affordable groundnut oil (varieties), groundnut cake, and other groundnut oil derivatives targeting consumers in the Northern Nigeria and also the international market. We are located in Barnawa Kaduna State.

The Company

PATILAD Groundnut Oil is established as a limited liability company owned by Dayo Adetiloye, Adebayo Tijani, and other investors.  The farm is managed and directed by Dayo Adetiloye, a veteran in the Agric. industry with 8 years’ experience and Adebayo Tijani, an experienced Agro-allied specialist with over 15 years’ experience.

VISION

To be among the first 3 largest Groundnut oil producer/distributor in south-south Nigeria by 2024.

MISSION

  • To give our customer the very best products and provide excellent customer service so that we may earn their trust and ensure continued business transaction.
  • To provide an excellent, healthy and safe environment for groundnut oil milling, processing, packaging and distribution.

 

Executive Summary of Groundnut Oil Business Plan in Nigeria

Executive Summary of Groundnut Oil Business Plan in Nigeria

OBJECTIVES

  • Increase revenue from the sales of crude palm oil to N30,000,000 over 2 years.
  • To maintain profit margins at 20-25% through close attention to expenses and cost of groundnut oil production.
  • To drive awareness and generate sales through mentions in both local print and digital media.

KEYS TO SUCCESS

  1. Financial stability for purchase of dried groundnut.
  2. Low operating cost and efficient processing techniques.
  3. Ensuring an efficient and highly motivated distribution team.
  4. Maintenance of Hygienic, safe and human friendly processing facility.
  5. Acquire necessary regulatory licence for our processing mill.
  6. Offer consistently quality processed products.
  7. Outstanding customer service and faster processing duration.

Products and Services

PATILAD Groundnut Oil will sell groundnut oil products, including groundnut cake. We’ll also be offering hiring services of equipment to other business. We produce, process and package to meet standard organization of Nigeria and international standard. We are concerned about providing products that suit the many use of groundnut oil either for edible or industrial uses.

1. Groundnut Oil Extraction Services:
a. Cold Pressed Groundnut Oil:

Utilizing advanced cold-press extraction methods, we produce premium-quality groundnut oil. Cold pressing ensures that the oil retains its natural flavor, aroma, and nutritional value, making it an ideal choice for health-conscious consumers.

b. Expeller Pressed Groundnut Oil:

For customers seeking a versatile cooking oil, our expeller-pressed groundnut oil offers a mild flavor profile. This method of extraction ensures a high yield of oil while maintaining its essential nutrients.

2. Variety of Packaging Options:
a. Bottled Groundnut Oil:

Our groundnut oil is available in various-sized bottles, catering to the diverse needs of households. This convenient packaging ensures easy handling and storage, maintaining the oil’s freshness.
b. Bulk Packaging for Businesses:

We offer bulk packaging options tailored for businesses in the food industry. Restaurants, catering services, and food manufacturers can benefit from cost-effective and efficient solutions to meet their large-scale cooking oil requirements.

3. Specialty Groundnut Oil Products:
a. Infused Groundnut Oil:

To add a gourmet touch to our offerings, we provide infused groundnut oil with natural herbs and spices. These specialty oils cater to culinary enthusiasts looking to enhance the flavor of their dishes.

b. Organic Groundnut Oil:

Embracing the growing demand for organic products, our organic groundnut oil is free from pesticides and chemicals. Sourced from carefully selected organic groundnuts, this product appeals to health-conscious consumers.

4. Educational Workshops and Training:
a. Farmers Training Programs:

In collaboration with local farmers, we conduct training programs on sustainable groundnut farming practices. This initiative aims to ensure a consistent and high-quality supply of groundnuts for oil extraction.

Read Also: Groundnut-farming-and-processing-business-plan-in-Nigeria

b. Consumer Education Workshops:

To raise awareness about the health benefits and culinary uses of groundnut oil, we organize consumer education workshops. These sessions provide valuable information on the nutritional value, proper storage, and cooking applications of groundnut oil.

5. Quality Assurance and Testing Services:
a. Quality Control Measures:

We implement stringent quality control measures throughout the extraction and packaging process to guarantee the purity and quality of our groundnut oil. Regular testing is conducted to meet and exceed industry standards.

b. Third-Party Testing Services:

For businesses and individuals seeking independent verification of the quality of our groundnut oil, we offer third-party testing services. This transparency ensures consumer confidence in the purity and authenticity of our products.

6. Customer Support and Consultation:
a. Recipe Suggestions and Cooking Tips:

Our customer support team provides recipe suggestions and cooking tips to help consumers make the most of our groundnut oil in their culinary endeavors. This service enhances the overall customer experience and encourages creative usage of our products.

b. Bulk Purchase Consultation:

Businesses looking to make bulk purchases for commercial purposes can benefit from our consultation services. We offer guidance on the appropriate quantity, packaging, and delivery logistics to streamline the procurement process.

7. Distribution and Delivery Services:
a. Nationwide Distribution:

With a strategic distribution network, our groundnut oil is available nationwide. We ensure timely and efficient delivery to retail outlets, wholesalers, and businesses, maintaining a consistent supply chain.

b. Online Ordering and Home Delivery:

To cater to the convenience of modern consumers, we provide online ordering services. Customers can place orders through our website and receive prompt home delivery, ensuring a hassle-free shopping experience.

 Read Also : executive-summary-of-restaurant-business-plan-in-nigeria

The Market

According to United State Department of Agriculture, the groundnut oil production in Nigeria is 920,000 metric tonnes (MT) (2012), which is far below 1,315 MMT domestic demands in 2012, within the period a deficit of 470,000 were imported the same year to supplement the domestic production. This large deficit is definitely a huge market potential for small and medium scale local groundnut oil. What is more interesting about this fact is that the groundnut oil processed locally are cheaper and of higher quality provided the right condition are ensured.

Competition

Competitors for PATILAD Groundnut Oil are Sharada Oil Mills, Starlex oil and Agon Bello Global Services. PATILAD Groundnut Oil’s competitive edge includes the use of modern milling equipment which turns out high quality products, excellent customer service, the expertise of its founders, unique branding and penetrative marketing etc.

Management Team

Dayo Adetiloye

I have over 10 years’ experience in the Groundnut Oil production and sales. I have B. Agric from Obafemi Awolowo University Ile-Ife. I also have a master’s degree in business administration MBA from same school. I am in charge of strategic planning and management for the business.

Adebayo Tijani

I have worked with my father for over 15 years from childhood in which I consistently helped in co-running or managing his groundnut farming and sales business. I’ve also attended several training and organized workshops where I learnt how to run a Groundnut Oil production, processing and distribution firm.

We will manage the firm to profitability by strategic production, marketing and sales.  We will provide quality assurance in our business by always upgrading our product and services to the taste of time. We will ensure excellence delivery of both products and services by employing more people with production, marketing and exemplary interpersonal communication skill. Our target is to build a team of exceptional goal getters and keep a steading assent of excellent performance.

Groundnut Oil Production Business Plan in Nigeria

Materials for Groundnut Oil Production Business Plan

1. Raw Materials:

The primary raw material for groundnut oil production is high-quality, well-dried groundnut seeds. It is essential to source groundnuts that are free from mold, contaminants, and aflatoxins, ensuring the production of safe and premium-quality oil.

2. Cleaning and Sorting Equipment:

Cleaning and sorting equipment is necessary to remove impurities, stones, and foreign particles from the raw groundnuts. This may include cleaning machines, vibrating screens, and sorting conveyors to ensure only clean and healthy nuts are processed.

Read also: Groundnut-paste-peanut-butter-production-business-plan-in-Nigeria

3. Roasting Equipment:

Roasting is a crucial step in groundnut oil production as it enhances flavor and aroma. Roasting equipment such as roasters or ovens is needed to heat the groundnuts to the optimal temperature, allowing for efficient oil extraction.

4. Oil Pressing Machines:

Oil pressing machines, such as screw presses or hydraulic presses, are essential for extracting oil from the roasted groundnuts. The choice of pressing equipment depends on factors such as production scale and the desired oil extraction method.

5. Filtering Equipment:

To ensure the clarity and purity of the extracted oil, filtering equipment is required. This may include filter presses or other filtration systems designed to remove impurities, sediments, and particles from the oil.

6. Oil Refining Equipment:

For businesses producing refined groundnut oil, refining equipment is necessary. This includes equipment for processes such as degumming, neutralization, decolorization, and deodorization to enhance the quality and shelf life of the oil.

7. Packaging Materials:

Packaging materials play a crucial role in preserving the quality of groundnut oil and ensuring its safety for consumption. These may include bottles, containers, or pouches made of food-grade materials with proper sealing to prevent contamination.

8. Labeling and Branding Materials:

Effective labeling and branding materials contribute to the marketability of groundnut oil products. This includes labels, logos, and packaging designs that convey important information such as product details, nutritional content, and branding elements.

9. Utilities:

Utilities such as water, electricity, and fuel are essential for the operation of processing equipment. Ensuring a reliable and consistent supply of these utilities is crucial for maintaining production efficiency.

10. Quality Control and Testing Tools:

Tools for quality control and testing are necessary to ensure that the produced groundnut oil meets safety and quality standards. This may include equipment for testing acidity levels, peroxide values, and other quality parameters.

11. Safety Equipment:

Ensuring the safety of personnel involved in the production process is paramount. Safety equipment such as gloves, aprons, safety goggles, and fire extinguishers should be provided to employees.

12. Employee Training Materials:

Investing in the training and development of employees is vital for maintaining high production standards. Training materials, including manuals and instructional guides, facilitate the onboarding process and ensure that employees are well-equipped with the necessary skills.

13. Environmental Considerations:

To align with sustainable business practices, considerations should be made for waste management and environmental impact. This may involve the implementation of recycling programs for packaging materials and exploring eco-friendly alternatives.

14. Compliance Documents:

Documents such as permits, licenses, and certifications from relevant regulatory bodies are essential materials for ensuring compliance with health and safety standards. These documents demonstrate a commitment to legal and ethical business practices.

 

Executive Summary of Groundnut Oil Business Plan in Nigeria

Executive Summary of Groundnut Oil Business Plan in Nigeria

Read Also: Groundnut-farming-and-processing-business-plan-in-nigeria

Financial Considerations

PATILAD Groundnut Oil seeks N10 million in long-term financing to cover start-up costs, equipment, building expenses, and working capital. Funding for the launch of the business is provided primarily by equity from the partners and investors.

The business will reach positive cash flow in its 10th month of operation, allowing for expedited repayment of its loan obligations, as well as for dividends to be paid to the owners.  Revenue will top N174,880,000  with gross margin of 31% in the 1st year of operation.

 

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