Executive Summary of Popcorn Business Plan in Nigeria.
The name of our business is PATILAD Popcorn. We are a sole proprietorship located in Lekki, Lagos, though started bootstrapping about a year ago on and now will be operating officially as a legally operating Startup in Lagos.
We are into production and packaging and distribution of flavored popcorn of different varieties of flavored Popcorn or Gourmet popcorn, presently offering chocolate, caramel, cheese and spiced flavored popcorn.
We also render services in Events, Cinemas, Parties, supply for snacks shops and High traffic streets. This business plan however addresses production and packaging arm.
Our target market are people of all age and sex who are middle class and high end earners of the society who patronizes retail outlets, shopping malls, supermarkets, cinemas, events and also commute through high traffic sites
PATILAD Popcorn will be established as a limited liability company owned by Temidayo Awofeso and Aliu Aminu. The company will be managed and overseen by Temidayo Awofeso, a first class caterer of over twenty years whose expertise has been procured by top-notch companies like Hilton hotel, KFC, Silverbird Cinema but has now decided to work for alone.
To become the leading brand name for accessing varieties of flavoured fresh popped and packaged popcorn and other related products through its excellent low-cost product offering and efficient distribution network and to grow till we become the largest popped corn industry in Lagos and beyond.
PATILAD Popped Corn mission is to become the premier multi flavoured popcorn producing industry in Nigeria. This will be accomplished by offering an unprecedented distribution network coupled with great and varied products and reasonable prices and also to provide Lagos, Ogun, Oyo with the tastiest and unique products they have seen in recent times.
- To gain target customers and market our new product in Lagos.
- To satisfy the needs of our target market and support our company goals within six months.
- To drive awareness and drive sales through referrals and social media campaigns.
- Attract both residents and workers alike into becoming loyal customers of the establishment.
- To have a customer base of 50,000 in our first year of operation and increase to 120,000 before the end of our 3rd Year in business.
- To satisfy our market segment that demands higher quality products and to maintain a steady growth in sales volume that will sustain the company for future years.
- To achieve net profit in year one, increasing in year two, by containing costs and meeting sales goals.
- To provide quality sales service and products at fair and best possible prices.
KEYS TO SUCCESS
- Good retail location in a high-density residential/ business area.
- Hygienic and neat processing facility.
- Outstanding customer service.
The company intends to hire two full-time machine operators and three part-time baristas to handle customer service and day to day operations.
Products and Services
PATILAD Popcorn will be involved in the production, packaging and distribution of caramel corn, chocolate corn and rainbow colour sugar popcorn. We also sell popcorn accessories including packaging, machine utensils, etc. We also provide training to new would-be popcorn producers. Our plan is to build our brand to become a household name all across Nigeria. We want our popcorn business to be found in supermarkets and stores all across Nigeria.
We are aware that there are several large and small scale popcorn production businesses scattered all around, which is why we spent time and resources to conduct our feasibility studies and market survey so as to offer much more than our competitors will be offering. We will excel in taste and general service rendering. We’ve delivery service options for our customers, and our outlet is well secured with the various payment options. We have secured deals with traffic hawkers all around busy traffic sites in Lagos.
PATILAD Popcorn wants to establish a large regular customer base, and will therefore concentrate its business and marketing on local residents, which will be the dominant target market. This will establish a healthy, consistent revenue base to ensure stability of the business. In addition, customer traffic is expected to comprise approximately 35% of the revenues. High visibility and competitive products and service are critical to capture this segment of the market.
In the true sense of the word, so many other competitors are in the same local government, a couple of other popcorn brands also exist in the neighbouring states. Despite the similar business in the area, PATILAD Popcorn will contain a few beneficial strengths to make it more desirable than its competitors. The central location of our PATILAD Popcorn will be an additional value aspect of the company.
To rise above competitors, PATILAD Popcorn will offer numerous options to satisfy common health and diet need of consumers. Our competitive edge is also in our unique flavours and recipes. We will invent new flavours and recipes regularly to keep our product offering fun and interesting and to motivate our customers to return to our shop.
Management Team and Organizational Plan
Ownership of the business
Akinyemi Femi is the owner of the business, with over 10years experience in the food snacks industry; he has a professional certificate in culinary arts, and an Alumni of Royal Institutes of Chefs in Lekki Lagos Nigeria. He will be in charge of daily running of the company, supervising every unit to meet daily goals.
Profile of the Team members
Mr Oyebade Adejumobi, formerly in Heritage Bank Lagos as a marketer, he will be heading our marketing unit, driving sales both online and offline.
Doyin Ayerogba: Accountant and sales manager for PATILAD Pop, with 5years experience working as book keeper for Glory Chips Akure Ondo State.
Mr Dayo Adetiloye – (B. Agric., MBA, and PMP): He has over 15 years’ 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.
We brought to the business:
- Educational skill and practical experience in the popcorn business.
- Capacity to consistently provide high quality, fresh baked and unusual flavoured popcorns.
- Valuable processing skills that make us own the value chain to a good extent.
- Quality processed product and good understanding of the market trend especially as it is affected by seasons.
Our staffs bring operational, marketing and promotional skills to the business
PATIKAD Popcorn seeks N3.5 million in long-term financing to cover start-up costs, equipment, building expenses, and working capital. Funding for the launch of the business will be provided primarily by equity from the partners and investors.
Our market survey and research shows that PATILAD Popcorn holds the promise of reaching positive cash flow in its 12th month of operation. The advantage of this is the provision it makes for accelerated repayment of its loan obligations, as well as for dividends to be paid to the owners.
Revenue is expected to amount to N9,984,326 and net profit N3,902,700 in our first year of operation.
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