INTRODUCTION
Due to the continuous increase in the population growth of Nigeria frozen foods is a very profitable business.
The business is far from being overcrowded because we have less people doing this business. This is because of the fact that it is seen as a filthy business.
This frozen food business plan has a 3 years projection revealing plans and milestones to cover in accordance with the vision and mission of our frozen food business.
EXECUTIVE SUMMARY FOR FROZEN FOOD BUSINESS PLAN IN NIGERIA
FEOGEOSTOM frozen foods is a business solely owned by Miss Gentry. She is a graduate of Animal science from Ekiti State University.
She is a passionate business expert, business strategist and a visionary leader.
She also adds to her resume as a professional business development strategist.
This business is located in Akure the state capital of Ondo State Nigeria.
We purchase our products twice a week and directly from local farmers sellers, local food processors around western part of Nigeria, we also patronize nearby poultry farm.
FEOGEOSTOM frozen food is a set up with a clear, dedicated and committed vision, to thrive and grow into one of the best businesses in the not yet crowded frozen food industry in Nigeria.
FEOGEOSTOM frozen food business is a standard one hence we are involved in commercial distribution of frozen food with the main aim of having sufficient cash flow for profit needed for the expansion of our business.
Miss Gentry’s knowledge and experience coupled with the team’s competency will bring innovative ideas to the industry.
We believe that our operational skills, processing skills, packaging skills, and our customer relation service will make our company outstanding.
Below are the products and services we offer;
- Gizzard, snails, prawns, turkey, quail meat, frozen rabbit meat, pork, beef, chicken and different varieties of fishes, frozen soups, frozen fruits and vegetables, frozen ready-to-eat meals, frozen potatoes and pastries products.
OUR VISION STATEMENT
- To be a well known name in the frozen food industry of Nigeria and be at top 5 most successful frozen food companies of all times.
OUR MISSION STATEMENT
- To make available to our growing Customers quality frozen food all year round.
- To be a distributor to both wholesale and retailers of Frozen foods.
BUSINESS OBJECTIVES
- To provide quality sales services and Products at fair enough prices.
- To increase our customers rate by 7% on yearly basis
- To engage in business relationship with wholesalers to reach far away places in Nigeria
SUCCESSFUL OPERATIONS REQUIREMENTS
REFRIGERATION AND ELECTRICITY
This business thrives on quality industrial sized deep freezers and a constant source of electricity. The epileptic power supply in Nigeria can serve as a major drawback hence the need for a standby generator which is crucial for our business survival.
PRODUCT
At FEOGEOSTOM frozen food we sell variety of frozen food items which includes: This enables us to have an edge over other frozen food businesses.
- Meat
- Poultry
- Vegetables
- Sea-foods
- Pastries
- Sliced Root and tubers
EQUIPMENT AND MACHINES NEEDED FOR A SUCCESSFUL FROZEN FOOD BUSINESS
- deep freezers
- Generator sets
- Knives and chisels
- Water storage tanks
- Tables and wooden boards
- Packaging nylons
- Waste baskets
- Comfortable chairs
- Aprons
- Cooling Vans/ delivery Vans
- Food trucks
- Cold rooms
COMPETITIVE ANALYSIS
Location
We at FEOGEOSTOM frozen food believe that Location is critical to success.
This is why our store is on Main Street so we can take advantage of walk-by and drive-by traffic.
Our management also made sure that we made adequate Provision for parking to make shopping at our frozen food convenient for drivers.
Convenience
We have also noted that residents and visitors are willing to pay a little bit more for good food and the convenience of being able to get what they want without having to travel out of town or order over the internet.
Our customers purchase our food because it is authentic, frozen and fresh.
High Quality
We at FEOGEOSTOM frozen food are focusing on high quality locally made food and frozen delicacies that draw customers from the competition, as well as create a local with reasonable prices and good food. We will have growth through repeat business.
TARGET MARKET
- Hotels chains
- Restaurants
- Bars
- Fast-food joints
- Chicken wholesalers and retailers
- Fried fish and chicken seller’s
- Households
- Vegetables and tubers wholesalers
- Caterers
- Food service industries
- Individuals
SWOT ANALYSIS FROZEN FOOD BUSINESS PLAN IN NIGERIA
STRENGTHS
- Over six states of coverage: FEOGEOSTOM frozen Foods has a strong and diversified presence with operations in the southwest region of Nigeria. The diversified presence allows FEOGEOSTOM frozen food to have higher access and reduces the business risks.
- Introduced Localised products: FEOGEOSTOM frozen food sells mostly localised products that are purchased in neighboring towns and states in order to attract the local market and increase revenue.
WEAKNESSES
- Health problems due to frozen foods: The frozen foods industry is subjected to criticism by various doctors and dieticians who consider frequent consumption of frozen food bad for health as it affects the blood pressure.
- Product recalls: In recent years, FEOGEOSTOM frozen food has had to recall many of its products due to one or the other defects or contamination in the product. Such recalls affect the image of the company and affect customer confidence in the brand.
OPPORTUNITIES
- Growing frozen food market
- Growing Foodservice Industry: With changing lifestyles and rapid urbanization, the food service industry is growing throughout the globe. FEOGEOSTOM frozen food is set to tap the demand created.
- Growth in restaurants and bars demand for frozen food.
THREATS
- Increasing Health awareness: Health awareness, in general, is increasing throughout the globe especially in the developing nations and hence fast food and frozen food consumption may go down
- Intense competition: FEOGEOSTOM faces competition from the frozen as well as food service industry, considering its product portfolio. The company has to maintain quality and service in order to retain its market and improve sales.
- Increasing Raw Material Prices: Prices of raw materials such as flour, vegetable oil, raw vegetables have shown increase in prices nationwide, Such increases in prices of raw materials increases price pressure on the company.
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