Executive Summary of Yam Business Plan in Nigeria
Overview
PATILAD Farm is a new farm that is involved in Production, sales and distribution of highly nutritious disease-free high-quality yam and other yam derivatives targeting consumers throughout the Nigerian federation and also the international market. We are located in Makurdi, Benue state.
The Company
PATILAD Farm is established as a limited liability company owned by Dayo Adetiloye, Adebayo Tijani, and other investors. The farm is managed and directed by Dayo Adetiloye, a veteran in the Agric. industry with 8 years’ experience and Adebayo Tijani, an experienced Agro-allied specialist with over 15 years’ experience.
Vision
To be among the first 3 largest yam producer/distributor in Nigeria by 2018.
Mission
- To give our customer the very best products and provide excellent customer service so that we may earn their trust and ensure continued business transaction.
- To provide an excellent, top-notch and safe environment for yam production, storage and distribution.
Objectives
- Increase revenue from the sales of yam to N30,000,000 over 2 years.
- To maintain profit margins at 20-25% through close attention to expenses and cost of yam production.
- To drive awareness and generate sales through mentions in both local print and digital media.
Keys to Success
- Financial stability for payment of labour, fertilizer, seed yam and other variable inputs.
- Low operating cost and efficient processing techniques.
- Ensuring an efficient and highly motivated distribution team.
- Maintenance of good working condition and effective remuneration.
- Being a member of the Yam Producers Association of Nigeria (YPAN).
- Offer consistently quality products.
- Outstanding customer service.
Executive Summary of Yam Business Plan in Nigeria
Products and Services
PATILAD Farm will basically sell healthy, disease-free and highly nutritious yam tubers. Other products and services includes seed yam, mini-sett, training and on-farm experience for would-be yam farmers, etc.
We produce, process and package to meet standard organization of Nigeria and international standard. We are concerned about providing products that suit the many use of Yam either for edible or industrial uses.
The Market
Households demand for yam consumption is very high in Sub-Saharan Africa. The main forces driving the increased demand for yam and its derivative products in Nigeria include the increasing household consumption of yam due to increased income and increasing demand from the primary food processing industry (producers of yam flour and poundo yam flour).
Competition
Competitors for PATILAD Farm are mainly small holder farms located in and around Benue state.
PATILAD Farm’s competitive edge includes the use of modern production techniques and equipment which turns out high quality products, excellent customer service, the expertise of its founders, etc.
Management Team
Dayo Adetiloye
I have over 10 years’ experience in the yam production and processing industry and I have B. Agric from Obafemi Awolowo University Ile-Ife. I also have a master’s degree in business administration MBA from same school. I am in charge of strategy planning for the business.
Adebayo Tijani
I have worked with my father for over 15 years from childhood in which I consistently helped in co-running or managing his farm estate. I have also attended several training and organized workshops where I learnt how to run a Yam production, processing and distribution firm.
We will manage the firm to profitability by strategic production, marketing and sales. We will provide quality assurance in our business by always upgrading our product and services to the taste of time. We will ensure excellence delivery of both products and services by employing more people with production, marketing and exemplary interpersonal communication skill. Our target is to build a team of exceptional goal getters and keep a steading assent of excellent performance.
Executive Summary of Yam Business Plan in Nigeria
Financial Considerations
PATILAD 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 N42,422,250and profit will reach about N5,989,526 in the 1st year of operation.
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