SOAP MAKING BUSINESS PLAN IN NIGERIA

SOAP MAKING BUSINESS PLAN IN NIGERIA

SOAP MAKING BUSINESS PLAN IN NIGERIA
SOAP MAKING BUSINESS PLAN IN NIGERIA

The name of the business will be FEGEOSTOM. It will be a manufacturing business that will produce bar and liquid soap. The business will open ground with liquid soap before going into the production of bar soap.

The business is located in Ojota, Lagos state. A lot of factors influence our decision to make this location the base of operation for our soap making business. Some of which is proximity to markets (raw materials and sales), proximity to labour, central location for distribution and a good location for our factory.

So far, the business name has been registered with the Corporate Affairs Commission of Nigeria. We have opened a corporate bank account and have set up an online payment platform and point of sales machines. The business has been insured and tax Payers Id is in progress. The branding by the Graphics Company is in progress and we are continuously recruiting employees. A lot has been set in motion for the success of this business and we seek for you to join us in this path of success.

Vision

To be a standard soap manufacturing company for both local and international markets.

Mission

  • To establish a world-class soap making business
  • To build up to be the best soap making business in the world through research with science and technology
  • Build a household brand name.
  • Ensure our customers’ needs are met accurately.

Our products.

This is a business that will not only make us profit but will also give our customers value for their money. We also offer the following products:

Liquid soap

Multipurpose liquid soap

Body wash

Hand wash

Dish wash

Car wash

Bar soap

Multipurpose

Clothe wash

Toilet/Body wash

Baby soap

All these varieties have different fragrances to suit our customers’ needs and preferences.

SWOT Analysis for Soap Making Business Plan in Nigeria

This is a summary of the SWOT analysis carried out by our professional business analyst

Strength: One of the strengths of the business will be the vast varieties of products offered to the public. Another one will be the experience of the management team to grow the soap business. Excellent products coupled with great customer service with a large distribution network is a strong point for this business

Weakness: Financing is the major drawback to this business as the state of the art machines needed for the production is capital intensive. We are trying to make this a strength by sourcing for funds.

Opportunity: soap production and sales have a ready-made market which includes households, offices, canteen, laundries, hotels, and industries. With this great opportunity, we will position ourselves to take the utmost advantage of this market.

Threat: one of the threats we might face is the reduction of purchasing power due to the economic downturn. Another threat is the brands we might need to compete with and outshine.

Market Analysis for Soap Making Business Plan in Nigeria

One of the businesses in Nigeria with a low barrier of entry is the soap business. There are numerous types of soap, each with its peculiar use. Naturally, when we talk about soap, two states (or types) come to mind namely: bar (solid) soap and liquid soap. Rarely do we include detergent (powder form).

There are a few brands out there that have already make grounds and earn a market share for themselves. These brands have proven healthy and reliable over the years. In fact, some of the brands have colonized the name of the product that when you think about say dish wash soap, the name comes to mind.

We have to gain our fair of the market share by giving several great products with nice creative packaging for a fair price. The general market is enormous but we will start and climb our way up the ladder to serve all. Our first point of penetration is the market in our immediate environment.

Our target Market: We would be supplying our products to:

Household markets

Restaurants

Government offices

Hotels

Hospitals

Sports centers

Laundry houses

Schools

Corporate offices

Religious centers

 

Our competitive edge:

SOAP MAKING BUSINESS PLAN IN NIGERIA
SOAP MAKING BUSINESS PLAN IN NIGERIA
  • The first is the competency of our employees. At Fegeostom, we only hire dedicated professionals and shows in the quality of products we give to our customers. Our employees are not only customer-centric but also have immense knowledge in science and technology to efficiently produce the best soap fit for a specific use.
  • Another is the state of the art equipment and machines that will be used in the production and distribution of the soap. 

 

Marketing Strategy: To successfully penetrate the market and grow our market, we will sell our soaps using these strategies:

Opening party to create awareness

Introductory letters to our potential customers

Media advertisements

Street advertisement

Internet adverts placement (target ad)

Promotion of our brand

Giving Freebies to freelancers and our customers

Direct marketing and sales

Customers’ Referrals

Business Structure

This business was set up with the sole aim of producing the best soap in Nigeria and the world. We ensure the state-of-the-art equipment and materials are used in the production. Not only would we have the best soap making machines, but we also hire the best of the best hands in soap making. With this in view, these positions are professionally filled with qualified, hardworking and customer-centric individuals:

CEO

Plant manager

Human resources manager

Sales and marketing executives

Front desk associate and accountants

Operators for the soap making and packaging machines

Customer services executives

Distributors

Logistics officers

 

SOAP MAKING BUSINESS PLAN IN NIGERIA
SOAP MAKING BUSINESS PLAN IN NIGERIA

Financial Analysis for soap making Business plan in Nigeria

We estimated a total of #900,000 for the infrastructure and machines for the soap business and a total of #450000 for the first production. A sum of #700,000 has been realized to set this business in motion while sourcing for more funds.

We intend to make a ten per cent profit or, at least, break even in the first year. This is because we sell with an opening price which is lower than the average price in the market. We calculated a thirty per cent profit in the second year and steady growth of five to ten per cent per annum. This is a projection based on the current market trends and an ideal market.

FOR THE FULL DETAIL OF THIS BUSINESS PLAN, BUSINESS MODEL CANVAS, MARKETING PLAN AND FINANCIALS: 

Please call our business plan consultants: +2348031504604, +2347030450130, info@apprenticeship.ng

We have a team that can help you write your specific business plans, feasibility studies, Marketing plan,  grant application,  market research, business brand story and so on.

Contact: +2348031504604, +2347030450130 for details

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