HOMEMADE BISCUITS AND CAKE PRODUCTION BUSINESS PLAN IN NIGERIA
HOMEMADE BISCUITS AND CAKE PRODUCTION BUSINESS PLAN IN NIGERIA
This sample Homemade biscuits and cake Production Business Plan in Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Notes, Competitions, etc. Homemade biscuits and cake 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 Homemade Biscuits and Cake Production Business Plan in Nigeria
Business: HOMEMADE BISCUITS AND CAKE PRODUCTION
Industry: Fast-Moving Consumer Goods [FMCG] (Homemade biscuits and cake Production Business plan in Nigeria)
PATILAD Production Company, Inc. is a registered business that process and produces Homemade biscuits, and cakes in Ogun state made from soy flour. This business aims to promote investments in Soya processing in Nigeria thereby providing food and reducing waste in Nigeria.
In order to do this, we have conducted in-depth feasibility research and created a business plan to demonstrate the inherent profitability of this venture.
We intend to maintain the high standards we have set for our homemade biscuits and cake and all other Soya products made in our facility by ensuring our clients get only the best from us in terms of both product and service. Within the first year of operation, we want to turn a profit. By the third year, we also intend to expand to three more locations across the nation and reinvest in the business.
We at PATILAND Production Company, Inc. will experience increased traffic as the city continues to grow at a rapid pace.
Market Analysis
The Nigerian food industry is one of the best-performing industries in the country despite the economic downturn and huge decline in consumer spending power over the years. The industry has grown so well, and consumers are still making the switch from unpackaged and unbranded products to packaged products as they become more aware.
Nigeria, which has a population of over 190 million, has a high development potential and a rising need for Homemade biscuits and cakes that serve a purpose more than just snacks but have better nutritional value.
The Soy Food Products market is valued at USD 45 Bn in 2022 and is projected to grow at a CAGR of 5.1% during the forecast period, to reach a value of USD 73 Bn by 2032. Newly released data from Future Market Insights market analysis shows that global Soy Food Products demand is projected to grow year-on-year (Y-o-Y) growth of 5.6% in 2022.
There is enormous demand for Homemade biscuits and cakes in Nigeria. It is on record that 50% of infant mortality occurs as a result of malnutrition and that there are a lot of food shortages in the crisis-ridden Northern-Eastern areas of the country. They provide fast foods which are rich in protein and high in energy and vitamins which serve as an alternative to cooked foods in times when there is no permanent place of abode.
Nigeria has a vast market of consumers that is only set to grow in the next few decades. The fast-moving consumer goods industry is essential for the Nigerian economy in both financial contributions and employment terms. In fact, fast-moving consumer good is one of Nigeria’s largest manufacturing industry.
Our target audience in Nigeria and the ECOWAS sub-region includes households, wholesalers, retailers, working-class individuals, the elderly, students, business people, men, and women.
Justifications For Entry Into The Business
• Data shows that Nigeria presently produces about 500,000 MT of Soybean annually making it the largest producer of the product on the African continent. This means that the major resources needed for our products are readily available.
• High Nigerian Urban development which is growing at 8% annually is also a contributing factor to the demand for homemade biscuits and cake.
• Sustainable and readily available local technology
• The switch from unpackaged and unbranded and ready-to-eat products to branded alternatives in the country.
• Research has shown that soya flour homemade biscuits and cake production is one of the best forms of business to do that could stand the test of time in the food industry because of its high nutritional value.
The Benefits of Our Products and Services are;
• Our product contains a high level of protein, energy, and minerals.
• Provision of quality products
• Excellent customer care services.
• Lowest possible prices.
• Our Homemade biscuits and cake is richly fortified with high protein.
Our Products and Services
We intend to sell the product described below at this point of our company’s development, but we’ll increase our range of products as we grow over the next years.
• Homemade biscuits and cake: this is a biscuit that contains a high level of protein, energy, and minerals. The lightness of biscuit makes it easy to distribute in times of emergencies as a relief material in the ameliorable food shortages in infants and high school children
Keys to Success
The keys to success for our Homemade biscuits and cake production business include:
1. Good retail location in a residential/business area.
2. Hygienic and neat environment
3. Online presence
4. Maintain low operating costs
5. On-time delivery
6. production of quality products
7. Maintaining and growing relationships with customers to generate new and repeat sales
8. Competitive pricing.
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Business Objectives for Homemade Biscuits and Cake Production in Nigeria
• To make available homemade biscuits and cake to all at affordable rates
• To increase sales by at least 75% in the second year
• To ensure customer satisfaction so that at least 60% of our customer base are return customers
Vision For the Homemade biscuits and cake Production Business in Nigeria
• To create the finest quality all-natural Homemade biscuits and cake with a commitment to incorporating the richest ingredients into a world-class product.
• To meet the highest standards of excellence with superb service and product offerings in a friendly atmosphere.
HOMEMADE BISCUITS AND CAKE PRODUCTION BUSINESS PLAN IN NIGERIA
Management Team of the Homemade biscuits and cake Production Business in Nigeria
Pelumi Agunbiade: She has over nine years of experience in the Food industry, having worked for some leading brands in Nigeria. She has a B.Sc. in Business Administration from the University of Lagos (UNILAG). She is an alumnus of 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 business, and overall business growth and development. He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan African University (PAU). He is our business development strategist and a strategic partner.
Lilian Mfon- Lilian is the head of our marketing team, most of our marketing strategies are online-based and she is the best personnel for the job she has a well-established digital marketer with proficiency in content management social media marketing, search engine optimization, and marketing.
We brought to the business:
• Academic skills and practical experience in the biscuit production business.
• Capacity to consistently provide high-quality goods and products all year round.
• Good understanding of the market trend.
• Our staff brings operational, marketing, and promotional skills to the business.
HOMEMADE BISCUITS AND CAKE PRODUCTION BUSINESS PLAN IN NIGERIA
SWOT Analysis
We were able to evaluate our strengths, weaknesses, opportunities, and threats to which we might be susceptible in the market. This is to prepare us for the competition that lies ahead and the best way to approach it. Below is a summary of the findings from our SWOT Analysis:
STRENGTHS
• Availability and easy accessibility to raw-materials
• Good knowledge of target customers and their needs
• Access to cheap labor
• Well-organized business structure
WEAKNESS
• The business is new to the market place and as such, the brand is not well-known yet
• As a start-up and the future is always uncertain for most start-up companies
• Lack of adequate capital for the business which requires an enormous amount of investment
OPPORTUNITIES
• The huge switch from unpackaged and unbranded products to branded alternatives in the country.
• The Soya processing food production industry is still untapped
• The continued growth in the middle-class population in Nigeria
THREATS
• This being a new entity there is a threat from new business entrants
• Government policies and regulations.
• There is a threat of other more established companies starting this line of business thus leading to stiff competition that the company might not be able to
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