Important elements of an abattoir business plan in Nigeria
Important elements of an abattoir business plan in Nigeria
See people eating meat everywhere! The amount of meat that people consume in Nigeria on a daily basis will amaze you. Little wonder why it is a very lucrative business. If you are ever considering a profitable venture that will bring in guaranteed daily income, abattoir business is seriously worth considering. An abattoir (also called slaughterhouse) is a place where animals (mostly cows, and other forms of animals) are killed and butchered for the purpose of preparing them for sales as food item (meat) in the market. Because of the high rate of meat consumption in Nigeria, this business is crazily lucrative and the supplies hardly meet up with the demand in the market.
The fact that you have been told that this business is lucrative and you are interested in doing it does not mean you can just jump right in and start. One of the most import steps to take when starting any business is to write the plan for that business. If you fail to plan, you have actually planned to fail – and there is no place like in business where people underestimate the importance of planning.
While we have been able to establish the fact that abattoir business is a very profitable business, it is also important not to forget to mention that the business comes with its own fair share of challenges, just like any other business has. Depending on your financial capacity and the vision propelling you to start the business, you can decide to start on a very large scale, medium level, or on a small scale. Whether you start big or you choose to start small, it is quite important to consider doing a very thorough market research and write your business plan. The market research will expose you to many things that are not so obvious but equally important for anyone who wants to venture into the business. Important issues such as government regulations, hygiene certificates and other public health issues must be considered when starting this type of business. For instance, you may be planning to start the business and you simply assume that you can just do the business anywhere you choose – no, you can’t. There are restrictions on where you can, and where you cannot set up such a business within a community but you may not know about all that initially. That is the more reason why market research, feasibility study and business plan will help you start strong and avoid unnecessary issues that are capable of killing the business before it starts.
Having said all that, the focus of this write up is to highlight for you the important elements of an abattoir business plan in Nigeria so that you can be well informed as to what and what to consider, and include, when writing your abattoir business plan. So, what are the important elements of an abattoir business plan in Nigeria? Let’s dive right in and take a look at some of the important elements that must be present in your abattoir business plan if you want to make a success out of it.
- Executive Summary
This is equally a very important element of an abattoir business plan because, most of the time, it is actually the part that assessors (if you are seeking investment funds or grants, or you are looking to get a business loan) gets to read first. This is because it is expected to be the summary of your entire business plan document. Most people in this role do not have all the time to go through your business plan in its entirety, yet they need to make a decision on it. More often than not, whatever an assessor perceives from the executive summary of your business plan (which he can read under 5 minutes) determines whether he will be interested in going further to read the rest of the document. So, here is what happens – and you need to understand it – when your executive summary does not hook the interest of your assessor, that is where the whole assessment would end, most of the time. It is only when an assessor gets fascinated by what he/she reads in the executive summary part of your business plan that he goes any further to see other details contained in your plan.
Having said all that, it must be obvious by now, how important the executive summary part of your business plan document is, and why you should pay attention to it, ensuring that it is written in a way that gets the attention of your assessors, whether they are investors or grant-giving, or lending institutions.
Important elements of an abattoir business plan in Nigeria
- Industry Overview
This is an important element of an abattoir business plan. It is important because it is that section that intimate the assessors of your plan about the general but important things that are needed to get them familiarized with important metrics about your industry. You must not assume they know about the happenings in your industry. They need to be told how and why this venture is a good one and why you decided to go into it.
- Vision and Mission Statements
Many people do not realize how important having a vision and a mission statement for your business is. It is absolutely crucial to craft a vision, and a corresponding mission statement, for your business. It is one of the ways to set a direction and focus for your business – and it always pays off. Although having vision and mission statements for your business is not the only important thing in business, neither does it guarantee business success, research has shown, however, that businesses that have it usually perform better and achieve success faster than those that do not have it.
- Products and Services
In this section, you are presented with the ample opportunity of being able to talk about the specific product and services your business will be offering and to whom. There are abattoirs that only deal in cow meat and nothing more. Meanwhile, there are others that deal not only in cow meat but also in pork, chickens, turkey, goat meat, etc. You must let the readers of your plan know the exact offerings you have created and you will be adding values to your customers with what you’ve got.
Read Also: How to write a simple business plan for an international clothing line business
Important elements of an abattoir business plan in Nigeria
- Job roles and responsibilities
In any organization, there are roles and responsibilities – and roles and responsibilities within an organization is determined by the goals of the business and the resources available with which the company hopes to achieve those goals. Every business owner must be able to determine what he wants to achieve and the human resources that such will require. For instance, it is not every kind of business that will require the business owner to hire a security personnel. Whereas, there are businesses that cannot even operate without a security person being part of the company’s workforce. The key issue here is to determine what are the roles that are crucial to your operation, and define what the responsibilities of the personnel who will be filling those roles are.
- SWOT Analysis
This is the section in your business plan where you talk about the Strengths, Weaknesses, Opportunities and Threats in your business or industry. When writing this part, always avoid the mistake of claiming that everything about your business is perfect and that no risks or weaknesses exist.
- Marketing Strategies
This is another important element of an abattoir business plan which you must take note of. In your business plan document, you must be able to state clearly how you plan to make sales, and how you will get people to buy your products. What are the things you will do to create adequate awareness for your business and convince people that what you are selling is the exact thing they need? You must figure this out and include it on your business plan.
- Financials
This is an important part and you must pay attention here. If you are seeking some sort of loan, business funding or financial support, this is where you should tall about how much is needed and for what purpose. Also, you need to talk about your financial projections here – how much of sales do you anticipate in the next one, two, three (or more) years? What will your costs and expenses look like? What are the profitability margins that you envisage? The main goal here is to prove to your assessors that you understand your market and that you are not just starting a business but you know how to make money, and make profit, from your industry.
If you need a service of a Professional Business plan writer, then Dayo Adetiloye Business Hub is the place to go Call or WhatsApp us now on 081 0563 6015, 080 7635 9735 or send an email to dayohub@gmail.com and we will solve any of your business plan problems.
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