Executive Summary of Furniture Business Plan in Nigeria

Introduction

Furniture making used to be seen as a venture for illiterates. But evolving developments in the society seem to have changed that perception, as more enlightened people show interest in the business.

Of course, most of these new faces in the business have been telling tales of good fortune and success. With various modifications and creativity coming into play in the business, it is a noticeable trend that most of the successful furniture firms are city-based, indicating that the business has the prospect of thriving more in urban and semi-urban areas than rural areas.

NCS Ltd is a thriving and dynamic furniture manufacturing firm located in the heart of Abuja. We specialize in the manufacture of household furniture, outdoor and office furniture. We use the very best materials available including post formed wood (MDF or HDF) which comes in colors or from seasoned wood which is treated to make the products and sprayed to a color afterwards. Technically the bulk of our work can be categorized into upholstery, mortising, tenour and installation for clients like wooden floors, doors and their locks, post-made cabinets etc. We also do maintenance services on existing furniture products.

The Company

NCS Ltd. is an Abuja-based company, located in Area 10 Abuja; in an ideal location highly suitable for this kind of business. We are seeking to have an expansion of our facilities and procure new machines and equipment that will help us satisfy our teeming clients and customers better, faster and more cost-effective.

NCS Ltd. will manufacture a wide range of household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise), outdoor and office furniture (Desks and home office goods, lamps, recliners, rugs and outdoor furniture). We are set to services a wide range of clientele in and around Abuja – Nigeria.

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Executive-Summary-of-Furniture-Business-Plan-in-Nigeria

NCS Ltd.’s management team is led by Jude Okon as Chief Executive Officer/Managing Director, who has extensive knowledge of the industry. The 6 years old company presently has five temporary employees, three permanent employees and three trainees. Upon reception of funds, we intend to double this figure. More details present under personnel plan.

Products

NCS Ltd. is in the furniture manufacturing industry to manufacture home, office and outdoor furniture to service a wide range of clients and of course to make profits, which is why we will ensure we go all the way to give our clients and potential clients options.

Our product offerings includes;

Manufacturing of household furniture (living room, dining room and bedroom furniture, upholstered, coffee tables, sofa tables, end tables, sofas, love seats, chairs, bookshelves, ottomans, display cabinets, consoles and TV stands and otherwise),
Manufacturing stationary sofas/sofa-sleepers
Manufacturing metal household and office furniture

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Executive-Summary-of-Furniture-Business-Plan-in-Nigeria

The Market

In Nigeria it is no gain saying the furniture manufacturing industry has the widest range of customers; almost everybody on planet earth has one or more things that they would need in their houses or offices from a furniture retail store. It is difficult to find households and office facilities without one form of furniture or the other.

In view of that, we have positioned our furniture manufacturing company to service the residence of Abuja – Nigeria and every other location where showroom with outlets will be located all over key cities in the Nigeria. We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us.

We are in business to manufacture a wide range of furniture to the following groups of people and corporate organizations;

Households
Bachelors and Spinsters
Corporate Executives
Business Owners
About to wed couples
Corporate Organizations / Offices
Government Offices
Schools and Students (Library inclusive)
Churches and other religious centers
Studios, Showbiz Business owners

Executive-Summary-of-Furniture-Business-Plan-in-Nigeria

Management

Management will be responsible for supervising and participating in the daily operations of the facility. Management consists of:

Jude Okon Chief Executive Officer/ Managing Director (Administration), Full Time
Jumobi Oyebade, Managing Director (Production), Full Time

Financial Considerations

The company is seeking Five million Naira (N5 000 000.00) in both short-term and long-term loans to finance the purchase of NCS Ltd.’s new farm, upgrade the facilities, and cover start-up expenses and first year losses. The company will make a profit of N3 843 950 in the first year of its operations. We do not expect to have any cash flow problems in the next four years of operations.