FEGEOSTOM Plantain is a new and thriving confectionery factory, we produce plantain chips in different delicious flavors that has won the hearts of many snackers in the city of Lagos and Ogun state especially in our immediate location i.e. Mowe local government. We are very innovative and creative with our tasty plantain.
We make the best of recipes to thrill the fancy of our customers. Our variety plantain recipes include barbecued plantain, pepper glazed plantain, onion sprinkled plantain, ginger and garlic freckled plantain, and honey dip plantain. Our plantains are fried fresh and chips are all evenly fried and well packaged.
Fegeostom plantain chips features a highly efficient packaging and distribution company, we have designated distribution network that has already done the job of reaching more than 850 wholesalers in strategic markets across Lagos and Ogun state and still counting. The market for our plantain chips is high, as it’s a commonly loved snacks that has no restriction with age or social class, neither does plantain constitute any allergy problem. Every one in three commuters in Lagos traffic would most time buy plantain chips. It’s estimated that the plantain chips company make revenue of close to a billion naira every week. A street hawker during the onset of our business start up research told us she sells an average of 1500 pieces to 2000pieces of plantain chips ranging between N50 to 100naira plantain chips daily, and you can have more than 50 of them in just a location. Plantain chips are easy to prepare, has long shelve life and light weight making it easy for street hawkers to sell.
Business Goal
We want to have our varied flavored plantain chips fill every nook and cranny of the nation, hence becoming the number one flavored plantain chips brand in Nigeria.
Objectives
- To make the best craved flavored plantain-chips in Nigeria
- To build a robust market network by strategic marketing and sales promotions
- To raise our sales reach by 10%-15% every quarter
- To get the right equipment and staff strength to produce in large volume that will try to meet our daily sales demand
Products
Fried and baked chips from Plantain is the main product. They will be produced from semi-ripe and unripe plantains which we will be getting from designated farms in Ogun and Oyo state.
By-products
The plantain peels are bought by goat farms in Ogun state.
Why should you buy our plantain?
- Our plantain chips are of great nutritional value, they are prepared in a way to preserve the rich iron nutrients contained in plantains.
- We observe strict hygienic procedures in processing and packaging our plantains maintaining a world class standard.
- Our products come in different flavor so you never get bored of eating plantain in on way.
- Against the great quality we are offering to our
- Customer satisfaction is our priority.
Location
Our company is located at Mowe Ibafo axis of Lagos Ibadan express way. Our company is strategically positioned at a location with high market potential. It has busy traffics; the population growth in this region is on a 500% increase every year, with new estates being built and massive relocation from Lagos. There are also many schools and event centre in this area. This location offers us various advantages which include affordable facility, high population concentration, proximity to major cities such as Lagos and Ibadan respectively, traffic congestion and the various religious activities connected to the area.
Competitive Strategy of Flavoured Plantain Chips Business Plan in Nigeria
FEGEOSTOM Plantain chips stands out with her innovative product packaging. We have chosen the most appropriate nylon type and the right colour choice that’s best attractive for edible food snack product. We have a solid branding and marketing company that does well to ensure we are well promoted on all social platforms as well as .
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
- Materials: Plantain, sugar, groundnut oil, milk, nutmeg etc.
- Equipment: industrial Plantain peeler and slicer, deep fryer, rolling pins, sieve, etc.
Cost of production
A detailed cost of production is available in the full plantain chips business plan.
The cost of expansion requires a sum of 10 Million Naira, an estimate of 4 Million Naira for the facility and machinery setup. The complete plantain chips slicing and frying line consists of 6 machines namely:
- Dough mixer
- Plantain peeling machine
- Plantain slicer machine
- Industrial Deep fryer machine
- De-oiling machine
- Automatic packaging machine
An estimate of 10 Million naira for production cost, campaigns, vehicle for transportation, staffing and miscellaneous are also required etc.
Market Analysis of Flavoured Plantain Chips Business Plan in Nigeria
With our attractive packaging, marketing strategies, we believe we will be able to get the attention of the public. Our first target market is the traffic vendors since the Berger-Mowe/Ibafo road is a major road that connects Lagos to other states. 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 solid contract with distribution companies who help to get our products to stores and malls in Ogun, Lagos, and Ibadan. Our product has also been listed on many online food stores like foodmart, kaymu, jumiafoods, konga, supermart etc and has even been shipped outside the country as samples in African food stores.
Expected profit
Given all parameters are strictly adhered to, and all assumptions met, we look at a net profit of 15 Million naira with a gross revenue of 32 million naira with a 25% projected increase in profit in subsequent years.
Prospect
Plantain chips business is under the category; food business and fast moving commodity which has the capacity to employ thousands if not millions of Nigerians both directly and indirectly. We project to open branches/ franchise in all cities in Nigeria, contribute to GDP 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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Why you should invest in Plantain Chips Business
Plantain chips business is one of the most thriving food businesses one can invest in reason being that plantain chips are widely loved by 90% of Nigerians and very profitable and densely populated regions Mowe area of Ogun State and Lagos State. Everyone surely needs food to survive and that includes our Plantain chips. Fast foods and snacks are highly sorted options by the populace which gives us an advantage as a growing business.
Moreover, our marketing strategy is not limited to sales. We will be rendering our services at events e.g. birthdays, weddings, anniversaries, conferences, etc.
In summary, the profitability of plantain chips business is glaring, it’s a scalable business that offers a long list of rewarding value chains if suitable marketing strategy is in place.
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