FEGEOSTOM Chin chin is a confectionery business that deals with the production of delicious and nutritious Chin chin. We specialize in the production of different uniquely flavoured Chin chin with a classic taste.
Our Chin chin is not just the regular Chin chin as we are careful in the choice and proportion of ingredients used to give our customers a great delight.
Chin chin is one of the most loved snacks in Nigeria. Asides from the fact that the snack is tasty, the crunchiness and its long shelf life (without losing its quality or taste) make it stand out among other snacks which makes it an ideal snack business for us.
As a company, we produce different types of mouth-watering Chin chin to meet the taste of our diverse customers. We are also intentional about our baking and frying process; ensuring that the standard food safety requirements are met during processing and packaging.
There is a ready market for the Chin chin business in Ota, Ogun state due to the population and proximity to Lagos state. Moreover, Chin chin is a versatile snack that is loved by both adults and children. It can be served at home, parties, cinemas, meetings, conferences, etc. It can also even be given as a gift on a regular or special day such as Valentine’s day.
Asides these, we have been able to utilize the traffic along Berger-Mowe/Ibafo to drive the sales of our product and also publicize our business.
Goal
To be the among the top three most desired Chinchin brand in Nigeria by 2025 who consistently produce quality tasty and healthy Chinchin.
Objectives
- To be a recognized brand in every household.
- To establish a loyal customer base in major cities across the country.
- To drive awareness through target market and strategic campaigns.
- To produce in large quantities to meet the present demand without a drop in quality.
- To be able to penetrate every stores and mall in Nigeria.
Main products
The main focus of this business is to produce healthy Chinchin that meets the expectation of all age groups.
Why should people buy from us?
- Our Chin chin is of great nutritional value. They are not just to fill hungry stomachs.
- Our processing and packaging process are carried out under very hygienic conditions.
- We produce in different sizes to meet various needs and ages.
- Our prices are fair and friendly.
- Customer satisfaction is our priority.
Location
We believe location plays a key role in any business. It has a high capacity in determining if a business will be successful or not. Therefore, we decided to situate our production unit in Ota area of Ogun State.
This location offers us various advantages which include affordable facility, high population concentration, proximity to major cities such as Lagos and Abeokuta, traffic congestion and the various religious activities connected to the area.
Competitive Strategy for Chin chin Business plan in Nigeria
FEGEOSTOM Chin chin stands out with her conspicuous product packaging. We are familiar with the fact that the way a product is packaged gives the brand her first impression and we are not taking any chances as regards that.
Our product package is not only catchy but it is as creative as the content. We are also careful to use airtight packaging materials for our product to ensure a long preservation time. Even though our products are made from a carefully researched recipe, we are very considerate with the pricing so that it can be a choice for every category of the populace.
We are also considerate about our customer’s desires and feedback which is the reason for the different flavours and texture.
Materials and machine for Chin chin Business plan in Nigeria
- Materials: Flour, sugar, groundnut oil, milk, nutmeg etc.
- Equipment: Chin chin cutter, deep fryer, rolling pins, sieve, etc.
Cost of production
As a growing business, our current cost of production is within #150,000-#200,000 depending on demand and this includes the packaging cost. However, we hope to expand from a medium-scale enterprise to large scale production, where we can conveniently supply major malls across the country, traffic vendors, and stores with have outlets in cities such as Lagos, Ibadan, Port Harcourt, and Abuja.
The cost of expansion requires a sum of 5 Million Naira, an estimate of 2 Million Naira for the facility and machinery setup. An estimate of 10 Million naira for production cost, campaigns, means of transportation, staffing and miscellaneous are also required etc.
Marketability
With our beautiful packaging, we believe we will be able to get the attention of the public. Our first target market is the traffic vendors since the Ota road is a major road that connects Lagos to other cities. We will be able to reach out to as many people as possible across different states plying those routes. Hence, we would gain product recognition in other states. We have good mobile means and distributors who help to get our products to stores and malls in Ogun, Lagos, and Ibadan for a start. With more financial funding, we hope to also cover other South-Western states such as Osun, Ondo and Ekiti States respectively.
Expected profit
A profit of 7 Million is expected after all expenses have been paid for in the first year, with a 40% increase in profit in subsequent years. We look forward to having more investors, especially in major cities to have an establishment in those cities and help reduce unemployment in the country. We also look forward to getting involved in other confectioneries such as peanuts, potato chips, etc.
Management experience
Our Management team comprises highly skilled confectioners with certifications in food and safety programs.
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