Palm Kernel Oil Production Business Plan in Nigeria
Palm kernel oil production is a very lucrative business. This is because the oil from this process can be used for several purposes. From cooking to making cosmetics, the uses are numerous.
You can start this business in Nigeria and enjoy a lot of profits. If you have been looking for a way to start, look no further. We have a total package for you in this post.
Also Read: Palm Oil Business Plan in Nigeria
You will not just learn how to start this business, you will see how profitable it is. Let’s look at a sample business plan first before stepping further.
Sample Business Plan for Palm Kernel Oil Production
You are probably wondering why there is a need for a business plan for palm kernel oil production. Every business needs a business plan. A business plan has several uses including raising capital from grants and loans and running your business.
This business plan is a sample so it is abridged. You can reach out to us to get the full plan at an affordable price. Now to the business plan.
Business Name: Jules Oil
Location: Cross-Rivers State
Industry: Agro-Allied Manufacture
Jules Oil is located in Cross-Rivers State, Nigeria. This location is known for its abundance of palm kernel, the main raw material for our processes. We intend to cater to both domestic and commercial needs of our clients.
Clients have different requirements. This is why we will focus our efforts on both crude and refined oil after extraction is complete. Asides extracting and refining the oil, we will also sell the by-products. Finally, we intend to offer consultancy services and training programs for young individuals.
To provide the best services to our clients, it is important to invest in research and development. This will give us a clear picture of the current expectations in the industry and the latest trends. It will also give us a heads up regarding the direction of the industry and new milestones.
Having efficient machines and the right hands to man them is very important in this line of business. We will invest in extraction, crushing, and refining machines to make our production process top-notch. In line with this, we will ensure that our production facility will maintain the required hygiene.
Packaging is a very important aspect of this process. This is why we will invest in the best packaging methods attainable in the country. We believe that this will set us apart from the competition and will be a major force of attraction for our business. There are so many opportunities in this business. To this end, we know that if we channel our efforts in the right direction, we can become a force to reckon with.
Some of our customers include makers of butter, margarine, mayonnaise, waxes, polish, and soaps. Others include dairy companies, pharmaceutical companies, and makers of ice cream, cheese, and filled milk. The oil extracted from palm kernel is also useful in the production of lubricants and tin plating.
Jules Oil will source its palm kernel from trusted vendors. This is necessary because it is the key to producing oil of high-quality.
Business vision
To become an A-list palm kernel oil production company within and outside Nigeria.
Business mission
To build a palm kernel oil production empire that will be recognized globally. We intend to achieve this by using the best practices in the industry and investing in research and development.
Business objectives
Business objectives are very important for achieving the vision and mission of any business. After much research, we have come up with the following objectives:
- To ensure that our sales increase to above N30 million in the first two years of operation.
- To ensure that our business maintains a profit margin of between 20% and 25% yearly. We will need to pay close attention to the cost of production and our production methods to achieve this.
- Drive publicity through a highly motivated team.
Keys to success
If we are going to achieve all that we are set out to do, we need a clear cut plan. We believe that these keys to success will drive us to achieve our goals.
- Consistent production at the highest possible quality.
- Investment in research and development to constantly improve our production methods and processes.
- Investment in quality machines and skilled staff.
- Ensuring that the production environment is hygienic and healthy.
- Acquisition of the necessary licenses.
- Setting up a highly motivated sales team that will drive sales volume by at least 20% yearly.
Our products and services
Jules Oil will focus on the extraction of oil from palm kernel nuts. We intend to service both the commercial and domestic needs of our clients. To this end, we will provide the following products and services.
- Refined Palm Kernel Oil
- Crude Palm Kernel Oil
- Palm Kernel Cake
- Palm Kernel Sludge
- Crushed Palm Kernel Shell for bio-fuel
- Consultancy and training services
Competitor analysis
Currently, there are several big companies in this sector. This means that we have to fight hard to stay afloat. After a careful study of the market, we have discovered reasons why we can take over the market. They include:
- Production of high-quality products.
- Competent and skilled hands to man our equipment.
- Competitive prices on all products and services.
- Quality unique packaging that will set us apart from the competition.
- The use of social media and SEO in our online marketing.
You can reach out to us for the remaining part of this business plan. We will make it available at a very affordable price. Now let’s learn about starting this business.
Get your Palm Kernel Oil Production Business Plan in Nigeria and feasibility study. pay N10,000 to:
Bank Name: Guaranty Trust Bank (GTB)
Account Name: Chibuzor Tochi Onyemenam
Account Number: 0044056891
After payment, send your name, email address and “Palm Kernel Oil Production Business Plan in Nigeria pdf” to 07033378184
Starting a successful palm kernel oil extraction business in Nigeria
Without a doubt, there is a very high demand for palm kernel oil within and outside Nigeria. What this implies is that whoever is willing and able to invest in this business will take the spoils. In this section, we will show you how to start this business and make it successful.
Feasibility study and business plan
Just like for most businesses, this is the first thing you must do. Some individuals carry out a feasibility study unknowingly so they don’t write anything down. We encourage you to be deliberate about your feasibility study as it holds the key to success.
From your feasibility study, you get information that helps you to develop a detailed business plan. This will be the key to running your business and also raising funds for your business. you don’t have to go through the stress of carrying out any of this. We can do both for you at an affordable price.
Raise capital
This business cannot run without sufficient capital. The reason for this is that you need funds to purchase the raw materials as well as the production equipment. From your feasibility study, you will have an estimate of what you need for this business.
You can raise money for the business in several ways. Some of these include personal savings, gifts, loans, and grants. A business plan is very important if you will be using the last two methods of raising capital for your business.
Find a perfect location
The truth is that there is no perfect location. However, you can find a location that is close to perfect. This location is one that is close to where you source your raw materials.
It should also be easily accessible to the target market. Make sure that you study the location properly before acquiring it.
Acquire the needed machinery
There are several pieces of equipment you need to run this business successfully. This equipment cost money. But more than this, you must ensure that you get quality equipment from a trusted supplier. If you acquire substandard equipment, then your business will end up suffering a lot.
Find a reliable supplier
There is no need to start your palm kernel farm. The best way to get raw materials is to find a reliable supplier. This is a very important step as subscribing to a bad supplier can ruin your business. Run background checks on a list of suppliers and pick one that will offer great prices for quality kernels.
Hire skilled and competent staff
It is one thing for your staff to be skilled, it is another for them to be competent. You cannot handle the business on your own so you need hands to help you out. Before you hire anyone to conduct a proper interview and check to see that they support your values. Bad staff will give your business a bad image which will ruin the business.
Market your products
This is a challenge for most businesses. You cannot rely on fate to sell your products. It is important to be aggressive in marketing your products. There are several methods of marketing. Find out the best ones for your products and develop an efficient marketing strategy.
Profitability of the palm kernel oil extraction business in Nigeria
Do you know that it is possible to make up to N300,000 each day from this business? One ton of the oil sells at N120,000, one tone of the cake sells at N100,000, and one ton of sludge sells at N100,000.
Ten tons of palm kernel will produce five tons of oil, four tons of cake, and a ton of sludge. On the market, ten tons of palm kernel costs N800,000.
This will yield N600,000 of oil, N400,000 of cake, and N100,000 of oil totaling N1,100,000. When you take out the cost of the cost of the kernel from this you have N300,000 as your profit.
Conclusion
Do you now see how profitable the palm kernel oil extraction business is in Nigeria? Contact us for a detailed business plan at an affordable price.
Get your Palm Kernel Oil Production Business Plan in Nigeria in Nigeria and feasibility study. pay N10,000 to:
Bank Name: Guaranty Trust Bank (GTB)
Account Name: Chibuzor Tochi Onyemenam
Account Number: 0044056891
After payment, send your name, email address and “Palm Kernel Oil Production Business Plan in Nigeria pdf” to 07033378184
Palm Kernel Oil Production Business Plan in Nigeria © www.businessplan.com.ng
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