Frozen Foods Business Plan
As a fundamental human need, food from time immemorial attracts so large a demand that its industry is struggling to make provision. Over time, food business has without a doubt proven to be a very lucrative business – not in Nigeria only, all over the globe.
In Lagos, so many working-class people many of leaving their homes very early in the morning in order to beat traffic and go back home late at night without the privilege of having a spare hour or two to spare for the kitchen.
Some others prefer the irresistible product of a seasoned chef to what their home kitchen has to offer while others love to chill, hang out with friends and eat super-tasty grilled fish.
Table of content
Executive Summary 3
Business Description 4
Products and Services 6
Market Analysis 7
Competitor Analysis 8
Sales and Marketing Plan 9
Operational Plan 12
Management Plan 13
Financial Plan and Projections 14
PATILAD FROZEN FOODS, is a proposed standardized frozen food retail enterprise that will provide immediate Ogudu’s teeming residents, restaurants, Fast-foods, caterers and the likes with quality frozen foods like frozen seafood, beef, pork, chicken, turkey, roasted frozen rabbit meat, roasted frozen grasscutter meat and quail meat. Patilad Frozen Foods is aiming at gaining a good share of the market by strategic discounts, market reach and a futuristic franchise model.
Patilad Frozen Foods will be tentatively located at 35 Ogudu Road, Off Ojota, Lagos.
Patilad Frozen Foods will be established as a limited liability company owned by Igbokwe Ifeanyichukwu, Desmond Elliot and Nathaniel Bassey. The Patilad Frozen Foods will be managed and overseen by Igbokwe Ifeanyichukwu, a first-class frozen foods expert of over twenty years having worked as the sales and marketing manager for a big frozen food retail company in Port-Harcourt Nigeria, helping the company to reach her targets, gaining sound relationship with top-notch customers, fast foods like Mama Cass, Sweet Sensation and hotels like Sheraton, Hilton, Chelsea, Protea and other hotels, he resigned on a good note to start up his own frozen food company in Lagos.
Products and Services
Patilad Frozen Foods will provide wholesale and retail stocks of tilapia fish, croaker fish, Titus fish, Hake fish, Sardine fish, Knife fish, catfish, variety of seafood, variety of meats e.g., turkey, chicken, gizzards, quail, grass cutter meat, antelope, pork, beef, variety of snail meat, and so on.
We offer chicken dressing service for live chickens. We also sell the inner condiments of these animals.
We do home delivery service and are very prompt with impeccable customer service.
Nigeria, no doubt, is both Africa’s most populated country and its largest economy but also its most important consumer of food products. The size of the food and beverage industry in Nigeria according to IMF is valued at 800 billion Naira with an estimated 40% growth expected in 2016 alone.
About one-third of Nigeria’s frozen foods needs used to be imported to support the daily need rate, but since the advent of President Buhari regime, importation of these items have been banned leading to higher demand of these needed foods. This, therefore, calls for the campaign for indigenous production of these foods.
Being the business capital of Nigeria and its second-most populous state, Lagos state boasts of over 30 million residents and a food and beverage industry valued at 100 billion. Experts also believe that this market will witness a 45% growth in 2016 alone.
The Ogudu area of Lagos has in recent times begun to capture the interest of greater Lagos residents.
This is because this once sleepy and relatively quiet business and residential community have attracted in recent times the interest and investments (in real estate) of Lagos’ many high and mighty. With its over 200,000 population made up of residents, workers and visitors, Ogudu area provide any serious frozen food store worth its onions the right kind of demography on which successful businesses thrive.
It is, therefore, no surprise that Big Bite, Mr Bigg’s, Tantalizers, Margretos, Sweet Sensation, R&M Hotels and a host of others found a conducive business nest in which to lay their proverbial eggs.
In the true sense of the word, there is just one competitor, Kunle Frozen Foods, which has similar but far lower quality offerings and is located forty blocks away from our proposed location.
Others Lisa Frozen Foods, a family frozen food business, and the frozen foods kiosks in the 200metres away market that does not meet the taste of the highly sophisticated and residents and businesses in this area.
Our competitive edge lies in the irresistible nature of our business offerings, our quality meat, fish and seafood sources, NAFDAC approved frozen food or cold room environment, neat quality packaging, odourless, fly and insect free cutting zone, consistent freezing, no power break, home delivery service, internet access, a place with all the trappings of a first-class frozen foods store.
It is designed to attract middle class and high-class cadres of the community. It is also poised to expand shortly from there.
Irresistible Kitchens 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 will be provided primarily by equity from the partners and investors.
Our market survey and research show that Patilad Frozen Foods holds the promise of reaching positive cash flow in its 7th 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 N12,984,326 and profit N3,592,736 in our first year of operation.