Executive Summary of Rice Milling Business Plan in Nigeria.
Overview
PATILAD Rice Farm is a start-up rice Farm that is involved in production of quality and affordable edible polished rice targeting consumers in North Central Nigeria and is located in Lafia, Nassarawa state.
The Company
PATILAD Rice Farm is established as a limited liability company owned by Dayo Adetiloye, Kemi Awe, and other investors. The farm is managed and directed by Dayo Adetiloye, a veteran in the agric. industry with 8 years’ experience and Kemi Awe, an experienced Agro-allied specialist with over 15 years’ experience.
VISION
To be among the first 3 largest Rice Farm in North Central Nigeria by 2015.
MISSION
- To give our customer the very best product and customer service so that we may earn your trust and future business.
- To provide an excellent, top-notch and inviting environment for rice processing, wholesaling and retailing
OBJECTIVES
- Increase revenue from the sales rice to N30,000,000 over 2 years
- To maintain profit margins at 20-25% through close attention to expenses and cost of rice production
- To drive awareness and build sales through mentions in both local print and digital media.
KEYS TO SUCCESS
- Transportation
- Warehouse
- Capital
- land
- Low operating cost
- Having a good retail location in a high-shopping area
Executive Summary of Rice Milling Business Plan in Nigeria.
Products and Service
PATILAD Rice Farm will sell packaged locally produced edible polished rice. We produce, process and package to meet standard organization of Nigeria and international standard.
The Market
Nigeria as the largest nation in African presently consumes about 5 million MT of polished rice annually and about 36% of the rice consumed in Nigeria are imported.
According to the statistics released by the Federal Ministry of Agriculture and Rural Development (FMARD), 1.8 million metric tons (MT) of polished rice valued at N660 billion was imported into the country in 2014 alone. Apart from the stiff competition imported rice pose to locally produced rice, they also seem to
Competition
Competitors for PATILAD rice Farm are Choice Farms, Best Foods Global, Meat World Foods, Chi Farms, Obasanjo Farms
PATILAD rice Farm will establish its competitive edge through the expertise of its founders.
Management Team
Dayo Adetiloye
He has 10 year experience in Rice Farming and has B,Agric from Obafemi Awolowo University Ile-Ife. He has master in business administration MBA from same school. I will be in charge of strategy planning for the business. And the CEO of the Business.
Oyebade Adejumobi
He has being in the rice business for over 25 years. He has worked with 3 major rice mill company in North Central of Nigeria. He as attended more than 7 trainings and organized workshops where he learnt advance Rice milling operations. He will be in charge of Day to Day operation of thebusiness
We will manage the business to profitability by strategic production, marketing and sales. We will provide quality assurance in the business by always upgrade our product and services to the taste of time. We will ensure proficiency by employing more people with production, marketing
Executive Summary of Rice Milling Business Plan in Nigeria.
Financial Considerations
PATILAD rice Farm seeks N5 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 N14,500,000 and profit will reach about N3,843,950 in the 1st year of operation.
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