How to get well written Business Plans in Nigeria

One of the major causes of failure in business is the lack of a viable business plan. In fact it has been said that many business fail not because the business ideas weren’t good but actually the implementation of those ideas.

Another reason businesses fail is because of inadequate financing. If you want to raise additional finance for expansion you’ll need a business plan because banks and investors won’t just listen to mere words but actionable, well documented plans that will move your company/business to the envisaged position.

What is business Plan?

A business plan is a document that provides useful information about stated business goals such as projected earnings, profit, market size and administrative plans needed to make such goals attainable.

You could see it as a road map to direct you to a certain destination – your desired business position within your industry and within the market. It’s a document that says what your business goals are, how you intend to achieve those goals and what your business internal structure will or already looks like.

Why do you need a business Plan?

Why should anyone even want to consider writing a business plan in the first place? This question is answered here;

To raise funds from investors to start a business

There are many business ideas that may never see the light of day not because they’re not viable but simply because there’s no capital to invest in it. But even if the idea makes sense and happen to know people willing to invest in your idea, most investors would still ask for a business plan. Their reason for wanting it is to get insights into what your business goals are, what steps you’ll put in place to achieve them and how profitable is the opportunity.

To expand an existing business

A business plan can also help you find ways to expand your existing business. You might discover along the line a new product or service or an underserved market segment that needs exploitation, how do you go about it? That’s another reason you need a business plan.

To Capture a Market or Market Segment

Sometimes the competition is just too weak but the demand for a product is high. A unique selling point is often the difference between a market leader and a struggling competitor. A business plan can help you arrive at a unique offering that’s head and shoulders above what the competition has to offer.

To provide a blue print for business success

How about running your business internally so you can turn out great results in how you utilize your business resources? A business plan is like a road map which directs you on how to run your business showing what you intend to do in order to achieve your business goals and more.

If you need a well written business plan but don’t have the time or expertise you can contact a specialist business plan writer to do a detailed analysis of a business opportunity or market survey. Simply call: 0803 206 4106

How to set up a Creche/Day Care School in Nigeria

A day care or crèche is a place where babies, toddlers and young children are kept during the daytime while their parents are busy with work. It’s a sort of playground/classroom setting where these younglings hang out, play, rest and are taking care of by trained handlers so that later in the day after work the parents can come pick them up.

The Opportunity

There is a high demand for Creche and day care schools in our urban centers in Nigeria. Why do I say that? How many working class mothers do we have in many of our cities? How many of them have nannies to look after their kids? Fact is toddlers can be a big distraction in the workplace and many mums know this hence why they choose to enroll their darlings in Creches and day care centers. This is the reason many primary schools set up nursery arms to serve as day care centers.

Who is the business for?

If you love children and you’re very good at looking after them then you may want to consider going into this business. However the challenge is always keeping your kids in safe hands and making sure that nothing bad happens to any of them. If you’ve handled children in Sunday school or have taught in a nursery school or have looked after children before then give it a try.

Marketing

This is a business you can start from your home informally approaching nursing or working mothers in your neighbourhood, at church or any other gathering letting them know what you do. If you wish to rent it makes sense to pick a room in a strategic location which is easy to access by your target group. You can later start printing fliers when you have attracted a small number of clients. Even if you can find 4 or more people initially it’s worth it, make do with that and as you become more consistent and better at what you do, you’ll gain more customers.

Requirements

To set up something like this you’ll need the following;

Mini Flat – N800,000 per annum

12 Small Chairs – N24,000

3 Small tables – N24,000

Toys – N40,000

TV set – N40,000

VCD player – N15,000

Book shelf – N60,000

Kiddies books and stationery – N30,000

Others – N500,000

Total: N1,533,000

How profitable is the Creche Business in Nigeria?

Like all businesses that depends on many factors but considering that parents pay N30,000 per term for nursery schooling you could charge each parent say N5,000 per month. Let’s assume you have 12 enrollments multiplied by 5 that’s N60,000 for the first month.

Breakdown first year (this is an estimate)

50 enrollments X N60,000 = N3 million

Running expenses (rent, salary, electricity etc) = N2.4 million

Profit before tax = N600,000

Return on Investment = 40%
Pay Back Period = 2 to 3 years

This is a business you can run for years without approaching banks for loans as it can expand on it’s own. It’s a cash cow.

Good luck.

If you need a well written business plan but don’t have the time or expertise you can contact a specialist business plan writer to do a detailed analysis of a business opportunity or market survey. Simply call: 0803 206 4106

How to set up a Mini Supermarket Business in Nigeria

At one point in time we’ve had cause to visit a supermarket to buy various consumables for our domestic needs whether or not they were edible. As we speak there are more than 10,000 registered supermarkets or grocery shops in Nigeria. However here in Nigeria when we talk about supermarkets we often times mean a corner shop where we can buy whatever we need.

The Business Opportunity

There are many people in Nigeria who don’t buy household consumables in bulk, that’s often because they live at subsistence level – leaving from hand to mouth or don’t have the time to go to the open market or big supermarkets where they can order for goods in bulk. That explains why there are so many kiosks selling ‘provisions’ and household items in many corners of streets in big cities and towns in Nigeria. In some corner shops, business is so brisk that daily sales could be as high as N200,000 with sales margin being 3% gross profit could be N6000 or more daily.

Challenges of Owning and Running A Supermarket in Nigeria

There are too many people doing this business that means to really overcome the competition and make great sales you have to do something really spectacular that will beat your competition hands down. Robbery incidents are common in some corner shops at night and being a product based business theft from staff is also common. Add the problem of erratic electricity supply. Also for this business to succeed you need to get a good location for your shop which isn't easy.

Who is A Supermarket Business Suited For?

If you have a regular job, you can set up this business and employ a sales person to manage it while you’re at work. A small scale business person can also embark on this business as a starting point to bigger things. Students in higher institutions can set it up so too unemployed people.

Start-up Requirements

Stock – N 2,000,000

Cash at hand - N 500,000

Furniture – N 150,000

Generator set – N150,000
2 years Rent - N600,000

Others – N 1,000,000

Total – N 4,400,000

If you need a well written business plan but don’t have the time or expertise you can contact a specialist business plan writer to do a detailed analysis of a business opportunity or market survey. Simply call: 0803 206 4106

How to Set up a JAMB/UTME Tutorial/Prep Classes Center in Nigeria

There is this prestige that many Nigerians have with being called graduates. Most young Nigerians who want to build a career only think of white collar jobs and you can’t secure one if you don’t have a university degree or a Higher National Diploma from a recognized polytechnic in Nigeria. The examination body responsible for preparing students to gain admission into Universities and Polytechnics in Nigeria is the Joint Admission and Matriculation board (JAMB) while the various Universities and Polytechnics conduct separate examinations to admit deserving students into various department through an aptitude test known as Universities/Polytechnics Matriculations Exam also known as Post UME.

Market Opportunity

There are at least 1.7 million Nigerians who would want to take the 2014 Jamb/UTME examination and majority of them lack sufficient experience or knowledge on how to prepare for these examinations. An experienced tutor/instructor who understands how the process works from time of registration till admissions and eventual matriculation stands to gain a lot especially in the big towns and cities all over Nigeria. In some cases intending JAMB takers (JAMBITES) pay as much as N5000 per month to prepare for 4 subjects, imagine if you had 40 students to teach per month, that would be N200,000 to say the least.

Challenges

But it a good idea always sounds good until it’s tested. There are many challenges you’ll face such as suitable location as many students tend to judge a prep center by its location which is not easy to find. If you’re using under a tree or behind someone’s house it makes you look like a quick buck. Also you’ll have to deal with examination touts and mercenaries as some of them might want to poach your students into patronizing them. It’s common these days to have people waiting for already answered questions sent to their phones in the exam halls thanks to touts who may give your business a bad name if you’re not careful.

Business Strategy

There are several strategies you can adopt to make money for yourself apart from charging fees. You can sell handouts, JAMB scratch cards and key points for your students to study at their own leisure time. Another strategy will be to have both morning and evening classes. Morning classes could start by 9 am and end by noon Mondays to Fridays and 10 am till noon on Saturdays while evening classes could run from 4 pm till 7 pm Mondays to Fridays and 4 pm till 6 pm on Saturdays or probably give Saturdays off for evening classes depending on your capacity. As stated earlier you’ll also need a good location like a shop space in a busy neighbourhood or very close to a university/polytechnic area or where there are many secondary schools. This is just a marketing strategy to put you close to the students.

Requirements

You’ll need to have one subject teacher who is really good at each subject. For instance someone can specialize in chemistry and physics, another teacher may take biology and geography, another might take Maths, while literature and English can go to another teacher. You pay your teachers per class taught like say N500 per class with each class lasting for 1 hour.

Start-Up Capital

Rent – N60,000

Stationery (Marker board, pens, textbooks etc) – N50,000

Furniture (10 benches and desks) – N80,000

Generator set – N20,000

Others – N20,000

Total – N230,000

Conclusion

The business is not for everyone as you need to have a passion for teaching and an eye to hire good teachers. There are many graduates of colleges of Education who are unemployed and many of them would be glad to teach for a small fee. Overall it’s your reputation that will sell your business for you so strive hard to make it work well for you.

How to start an Ice Cream Business in Nigeria

How many times has it occurred to you perhaps when on a date to treat your guest to some tasty and romantic ice cream delight?

Don’t ask me what I think just put the question to young ladies who want to be pampered or kids who are out with their folks what they think of ice cream and you’ll get the idea. It’s a lucrative business because there is proven demand for the product the key however to turning a profit is if you can overcome the cost of providing power supply and have a suitable location that doesn’t cost too much to go with it.

There are quite a number of ideas you can play around with on how to market your business and attract new customers but just keep in mind that like all businesses innovation is what will give you an edge in a competitive market place.

There are many varieties of ice cream people love to savour

How you’ll make your money selling Ice Cream

These are some ways in which you can quietly make your money from this business:

-         Selling directly from your stand to potential customers

-         Outdoor/catering for parties and events

-         Special deliveries to homes and offices

Start up Equipments and Costs

Ice Cream making machine – N180,000

Refrigerator/Freezer – N50,000

Furniture – N50,000

Rent – N60,000

Gen set – N40,000

Others – N250,000

Total = N630,000

Want to start an ice cream business in Nigeria and need a comprehensive business plan call me: 0803 206 4106 or email me: paulonwueme@gmail.com [Serious enquiries only please]