Virgin Coconut Oil (VCO) Production Business Plan in Nigeria
This sample virgin coconut oil (VCO) Production business plan in Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Notes, Competitions, etc. virgin coconut oil (VCO) Production business 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 VIRGIN COCONUT OIL (VCO) PRODUCTION BUSINESS PLAN IN NIGERIA
VIRGIN COCONUT OIL (VCO) PRODUCTION BUSINESS PLAN IN NIGERIA
Business: VIRGIN COCONUT OIL (VCO) PRODUCTION
Industry: Coconut Oil Production Industry (Virgin Coconut Oil (VCO) Production Business plan in Nigeria)
PATILAD WONDER is a Virgin Coconut Oil (VCO) production company based in Lagos State, Nigeria. We are registered as a limited liability company owned by Dayo Adetiloye, Pelumi Agunbiade, and other investors under the Nigerian Corporate Affairs Commission (CAC) and legally licensed by the National Agency for Food Drug Administration and Control (NAFDAC) here in Lagos State. We have also been able to secure all necessary permits and documents from all concerned departments across all levels.
Our aim is to win over manufacturing companies that are into the production of skin products, hair products, skin products, drugs, and food products. As such, we produce in commercial quantities to meet their needs.
We are in the virgin coconut oil (VCO) production business because we want to take advantage of the numerous opportunities in the agricultural sector, to help Nigeria’s economy improve by increasing domestic food production, to export agricultural products from Nigeria to other nations, reduce waste and above all else, to make profit. We intend to grow into one of the best Agro-based industries in Nigeria which have taken advantage of the abundant raw materials produced to create goods for export.
With the goal of reaching the larger national market and the intention to go international, PATILAD WONDER continues to focus on marketing, distribution, brand development, research, and development.
We are committed to meeting our customers’ needs precisely and completely. As such, we hold ourselves accountable to the highest standards. we equally get our customers involved when making cogent decisions
Market Potential
Lagos is known for its coconut heritage, producing about 70 percent of the national output of 267,520 metric tonnes, meaning Lagos alone produces de-husked nuts of 187,264 metric tonnes of coconut annually.
The global demand for coconuts and derivatives increased by over 500 percent in the last five years, underscoring the huge economic potential yet to be explored by Nigeria with efforts geared towards its cultivation in the past years. For instance, in the beauty and skincare industry, any product that has been proven to be reliable and healthy tends to sell like wildfire. Virgin coconut oil has been proven to be one of the most reliable ingredients even in the manufacturing of drugs, soaps, skin products, hair products, and repellants. This is an indicator that there is a good demand for it.
VCO is demanded for the production of anti-HIV/AIDS drugs, anti-cancer therapy, and many more.
Products and Service
At PATILAD WONDER, our product is simply virgin coconut oil (VCO); we produce in commercial quantities for manufacturing companies that are into the production of soaps, skin products, hair products, etc.
Our Target Market
There is a large variety of potential clients when selling virgin coconut oil (VCO). In essence, everyone who lives in our target market locations must be considered as part of our target market rather than just a certain set of individuals or organizations.
However, because we engage in commercial production and wholesale distribution, we target the following organizations as major users of our virgin coconut oil (VCO);
- Pharmaceutical companies
- Hair care manufacturing companies
- Soap manufacturing companies
- Skincare manufacturing companies
Our Vision Statement
Starting from Nigeria, our vision is to grow into one of the top businesses in the global agro-processing sector within the next 5 years.
Mission for the virgin coconut oil (VCO) Production Business Plan in Nigeria
- To establish a world-class virgin coconut oil (VCO) production company that has the capacity to favorably compete with key players in the industry
- We understand that the customer service we provide is extremely important, so we make effort to exceed customer expectations always.
Management Team of the virgin coconut oil (VCO) Production Business
Pelumi Agunbiade: She has over nine years of experience in business and has over the years assisted in growing several businesses 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 the 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.
Read also: Garri processing business plan in Nigeria
Our Business Structure
With a clear picture of our long-time dream as to the kind of virgin coconut oil (VCO) production business, we intend to build. We are aware of the importance of building a solid business structure that can support the kind of world-class business we want to own. As such, we are ready to make the necessary financial investment to achieve this dream.
We have put in place a structure that allows all of our senior management workers to have access to profit-sharing arrangements, which will be dependent on their success over time.
In light of the aforementioned, we have chosen to hire talented and experienced personnel to fill the following positions:
- Chief Operating Officer
- Administrator/Accountant
- Processing Plant Manager
- Customer Service Executives
- Social Media Manager
- Sales and Marketing Officer
- Security Guard
- Truck Drivers
- casual farm/ factory workers
Our Competitive Advantage
The VCO production industry is gradually becoming fiercely competitive and PATILAD WONDER is fully aware of the competition that is available. We are prepared to compete favorably with other players in the industry here in Nigeria and beyond.
Some of our competitive advantages include;
- PATILAD WONDER VCO Production Company management team is very vast and highly experienced in growing a business to a national phenomenon out of nothing
- We prioritize the welfare of our staff and ensure that they are well taken care of which brings about loyalty. We equally give room for continued individual growth.
- Our excellent customer service culture will definitely count as a strong strength for the business as we do everything permitted under the law to satisfy and meet their needs.
- Our location is also a very big advantage to us as there is massive availability of raw materials- coconut here in Lagos.
- Our distribution networks in very effective in that it makes buying from us very easy for our customers.
- Our leverage of the internet by using our websites and social media platforms is equally a plus to us because it gives us the opportunity to reach a large number of people with our product offerings with little or no stress.
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