CHIN-CHIN Business Plan
Chin-chin is one of the most consumed snacks in Nigeria. It is often the dessert choice at ceremonial occasions like Christmas, New Year and other festivals. Sometimes, Chin-chin is presented as a gift. The demand for Chin-chin is high on weekends because many people have time to visit recreational sites, go shopping, and dine with the family.
During these seasons, the rush for Chin-chin can be overwhelming. At the wedding, the company’s end-of-the-year party, event, chin-chin is an accepted party starter. Your small chops collection is almost not complete until you add chin-chin.
You will definitely agree with me that baking chin-chin is one of the most lucrative businesses in Nigeria today. Even when other commodities experience poor sales, chin-chin is still in high demand. Whether it is crunchy, soft, big or small, chin-chin makes your occasions very colorful.
One thing about the chin-chin business is that it is your creativity that can stand you out from your competitors. No doubt, to stand out among various chin-chin makers, you have to be very creative. And that is why you can come across chin-chin in different shapes, designs, and flavors. If you are creative enough, you can make your chin-chin to represent any celebrated event or occasion.
Beyond every reasonable doubt, a chin-chin business is indeed a profitable business because you can operate the business with your family members from your kitchen thereby cutting operational cost to the barest minimum. So also if you are able to secure a strategic high traffic location to open a shop, you can be rest assured to rake in good returns from your Chin-chin business.
Table of content Pages
Executive Summary 4
Business Description 9
Products and services 12
Market Analysis 14
Competitor Analysis 16
Sales and Marketing Plan 17
Operational Plan 21
Management Plan 24
Financial Plan and Projections 25
PATILADChin-chinis a start-up company located at Awada, Onitsha. We specialize in the production of different flavoured Chin-chinmade from finely sourced ingredients, highly nutritious and of excellent taste. We ensure we provide a wide range of nutritious and healthy chin-chin that is a delight to the entire household. Quality and presentation is our watchword, and we use the finest ingredients to ensure that our Chin-chin and desserts taste and look great. PATILAD expects to catch the interest of a regular loyal customer base with its broad variety of Chin-chin and other related products. The company plans to build a strong market position in the town due to the partners’ industry experience and mild competition in the area. PATILADChin-chinaims to distinguish itself by branding its own product yet offerproducts at competitive price to meet the demand of the middle-to higher-income local market area residents.
PATILADChin-chinis established as a limited liability company owned by TemidayoAwofeso and AliuAminu. The company is managed and overseen by TemidayoAwofeso, a first class caterer of over twenty years whose expertise has been procured by top-notch companies like Hilton hotel, KFC, Mix and Bakebut has now decided to work for himself.
The company intends to hire two full-time caterers, contract staff and several part-time workers to handle customer service and day to day operations.
Products and Services
PATILADChin-chin will offer varieties of breath-taking Chin-chin and unusual flavoredChin-chin ranging from milky, coconut milk, chocolate-flavored chin-chin and so many others all produced from the freshest ingredients. We cater for birthdays, engagements, weddings, anniversaries, christenings and any special event you may be celebrating. Our company will provides freshly baked chin-chin and other demanded baked products all times during business operations. We will also maintain an actively serviced and robust chin-chin distribution network. We are committed to seeing our ideas blossom into a nationally recognized outstanding Chin-chin Company, and will work within budget without compromising on the great quality we are known for.
We will also make dessert, ice cream, cupcakes, puddings, pies, cookies and a range of other treats for events as well as personal consumption. We will also include a catering service to deliver large orders for big events such as birthdays and weddings which will provide significant convenience for consumers.
We will also offer chin-chintraining classes, consultancy and several small chops recipe formulation session in our training armthus becoming the leading chin-chin production company in the industry.
The Chin-chin industry in Awada, Onitsha has recently experienced rapid growth. Customers have become accustomed to the supply of unusual speciality Chin-chin of high standard, and PATILADChin-chin will position itself to cater for this fastidious market. The local customers are looking for high quality product in a relaxing atmosphere, where they can meet friends and refer family to.
PATILADChin-chin wants to establish a large regular customer base, and will therefore concentrate its business and marketing on local residents, which is 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 town, a couple of other Chin-chin companies also exist in the neighbouring towns. Despite the similar business in the area, PATILADChin-chin will contain a few beneficial strengths to make it more desirable than its competitors. The central location of our PATILADis an additional value aspect of the company.
To rise above competitors, PATILADChin-chin will offer numerous options to satisfy common health and diet need of consumers. Whether it is required by allergies or simply a choice, a desire for gluten-free, organic, naturally sweetened, reduced-fat and vegan foods has recently grown. By offering Chin-chinwhich meets these requests, more consumers will feel welcome to our shop because their needs is recognized and satisfied. Our competitive edge is also in our unique flavours of Chin-chin 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.
Finally, the convenient catering service and the comfortable lounge for customers to relax in as they indulge in their delicious delights is a major advantage for PATILADChin-chin.