Plantain Farm Business Plan

50,000.00 20,000.00

Introduction

Plantain farming, chili pepper, and vegetable farming are essential for the purpose of consumption by human beings.

In Nigeria, plantain, chili pepper, and vegetable farming are one aspect of farming with the ability to generate income and profits year round. As it is, is one of the easiest agricultural engagements a farmer can venture into and the demand for an edible vegetable is year round, creating a veritable stream of income for the would-be farmer.

As a business, vegetable farming offers an opportunity to earn a steady income and also provide employment opportunities for a countless number of men and women. On a national scale, it also helps to reduce our dependence on other countries to meet our increasing food demand.

Major customers for plantain, pepper, and vegetables in Nigeria are households. These households can be ranked based on income levels. They include high, middle level and low-level income earners having an annual income of over N800, 000 to N1.5million and everything below N800, 000 respectively. Other consumers of the product are restaurants, hotels, local markets, online/offline food stores food supplement industries who make supplements out of highly nutritious vegetable like ugwu spinach.

The high demand for our agro-allied products has led to an increase in farmers springing up in many parts of the country. This, however, is still a far cry from the ever-increasing local demand for the product. Hence starting a farm of your own either on a large, small or medium scale is indeed a very wise decision as this will bring immense financial benefit both in the short and long term.

Business Description

PATILAD Agro farms is a budding organic farm that is involved in the production of high quality, nutritional, and fresh plantain fruits, bell and chili pepper, vegetables including green vegetables for consumption in and around Lagos Nigeria. We cultivate, harvest, process and package for supply retail outlets to sell our plantain fruits, cucumbers, carrots and eggplants green vegetables in Nigeria: green leaf, ugwu(fluted pumpkin leaf), Efo Shoko(Lagos Spinach), Bitter leaves, Efo Tete(Africa Spinach), waterleaf, Garden Eggplant, Malabar Spinach, Efirin (scent leaf), Afang leaves,   are committed to the improvement of food taste and nutritional quality.

Our first stage of activity is in cultivating harvesting and selling these products in wholesales, our next phase activity is to begin processing of our products like the plantain fruits into plantain flour, and plantain chips, our chili pepper into a dry powdery pepper.

Our company is being founded to build upon an extensive array of biological and horticultural education, experience, and the research of its founders.

We produce process and package to meet requirements of the standard organization of Nigeria as well as NAFDAC.

Although we will initially supply to local markets, online and offline supermarkets and grocery stores all across Lagos and Ogun State, we ensure to fortify our business structure in place that will support the kind of growth that we have in mind while setting up the business.

 

Form of business:              A sole proprietorship.

Owner of business:             Dayo Adetiloye

State of business:              New business

Opening days:                    8am-6pm Mondays- Saturdays

Business Development

Consultant:                         Jumobi Oyebade  (MBA)

                                             Hundred and five Academy

Legal Adviser:                     Barrister Oyewumi

      Oyewuni &Co

Banker:                                     UBA

Board of Directors:           Kemi Oluwadamilare

 Femi Kush    

 

VISION

Our vision is to be among largest organic farm in the production of plantain fruits, chili pepper, green leafy vegetables and all its processed derivatives in Nigeria by 2025.

MISSION

Our mission is to build a company whose reach gets to the nooks and cranny of major cities in Nigeria.

We intend to build an international brand and export our well – packaged farm produce and agro-allied products to other countries of the world.

OBJECTIVES

  • To maintain profit margins at 20-25% through close attention to expenses and cost of vegetable production.
  • To drive awareness and generate sales through mentions in both local print and digital media, listings on online stores and a dedicated blog.
  • To initiate a relationship with bulk purchasers or dealers to reach far places in Nigeria
  • To achieve a 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.
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Table of content

Page

Executive Summary3
Introduction4
Business Description
4
Products and services
9
Market Research10

Competitor Analysis11
Sales and Marketing Plan14
Operation Plan17
Management and Structure19
Financial Plan and Projections23

Executive Summary

Overview

PATILAD Agro Farm is a standard and registered organic farm that’s majors in the cultivation of plantain fruit, and minors in bimonthly plants like bell pepper and vegetables like cucumbers, green leaves, spinach, pumpkin leaf, carrots, and eggplants. We are located in Ifo – Ogun State (a 20minute drive to the capital of Lagos State) We take into practice technical ways of running a profitable modern organic farm and hope to establish a robust distribution network all across Nigeria.

The Company

PATILAD Agro farm Agribusiness is established as a Sole proprietorship owned by Dayo Adetiloye. The farm is managed and directed by Dayo Adetiloye, a farmer with good years of experience as an infopreneur. Our organic farm is poised to produce all month productivity as we have a clearly planned farm system and modern greenhouse technology that allows for continual harvesting season in and out.

Products and Service

PATILAD Agro Farms has a purchased a one-hectare farm and plans to rent more around the same location to cultivate, package and sell the following crops and vegetables all year round.

  1. Plantain Fruit, plantain suckers, plantain flour and plantain chips
  2. Bell pepper, both dried and processed
  • Fast growing vegetables like cucumbers, green leaf, spinach, pumpkin leaf, carrots, and eggplants.

We cultivate, process and package to sell to resellers, local farmers, food companies, local markets, food stores, online superstores, individuals and corporate. 

The Market

The contribution of our farm to reduce the hike in price due to a surge in demand over the supply of our agro-allied products cannot be overemphasized. The plantain fruits and vegetables are always on consistent high demand all year round, and the market has not been able to reach a half of that demand. Our target markets are in Lagos. Being the business capital of Nigeria and its second most populous state, Lagos state boasts of over 50 million residents and a food industry valued at 100 billion. Experts also believe that this market will witness a 45% growth in 2017 alone.

Competition

Competitors Choice Farms, Best Foods Global, Ajanla Farms, Obasanjo Farms

PATILAD Agro Farm will establish its competitive edge through the expertise of its founders and resilience in innovative market strategy and product creation.  

Financial Considerations

We seek N10,000,000 in long-term financing to cover start-up costs, equipment, and working capital.

Funding for the launch of the business is provided primarily by Grants 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 N5,775,000 and profit will reach about N2,146,813 in the 1st year of operation.

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