Executive Summary of Herbal Business Plan in Nigeria

Herbs farming can fetch you huge income if you know how to go about the business in Nigeria. This article will help you to understand all there are about herbs farming in Nigeria, the dos and don’ts. You will agree with me that every business venture requires thorough information gathering and planning. There are lots of ethnomedicinal plants in Nigeria that you can start cultivating for commercial purposes.

When you put into consideration the number of herbs in Nigeria and how lucrative they are, then you will agree that herb farming is highly profitable. The major problem in Nigeria is not unemployment or bad government but Nigerians shying away from opportunities. In fact, there are lots of lucrative opportunities in the agricultural sector in Nigeria for people to exploit.

It is high time you started considering agricultural investments like herbs farming in Nigeria. There are different types of herbal medicine in Nigeria which means that the market for herbs is very huge. For a definition, herbs are plants that can be used for medicinal purposes as well as culinary uses to flavor or garnish food.

Simply put, herbs farming is the business of cultivating or growing medicinal plants, especially for commercial purposes. There are lots of Nigerian traditional medicinal plants that you can cultivate in your farm and be making good money. Herbs in Nigeria are consumed on a daily basis, making the herb farmers rich and healthy.

NCS Herbal Medicine is involved in the production, packaging and distribution of high-quality herbal and natural medicines and other related medicinal products to cure, control or manage a number of ailments, most of which are not curable or manageable using orthodox western medicines. We want our herbal medicine to be go-to-choice for curing, controlling and preventing different kinds of ailments and diseases all across Nigeria. We are at the final stage of leasing a facility that is spacious enough to handle the kind of Production Company that we intend launching and the facility is located not too far from our greenhouse farm where we grow our raw materials.

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Executive-Summary-of-Herbal-Business-plan-in-Nigeria

Our Company

NCS Herbal Medicine is owned by Jude Okon and his immediate family members. Jude Okon is a herbal medicine specialist; he has a B.Sc. in Pharmacy and a Masters in Business Administration, with well over 10 years of hands on experience in the foods production industry, and worked with some of the leading brands in Nigeria. Although the business is launching out with a distribution network around Lagos, Ibadan and Ogun State but there is a plan to expand to other states in a very short while.

VISION

NCSWONDER is committed to become one of the top three traditional medicine producers in Nigeria and to be the leading herbal healthcare company to provide an alternative medicine system which is dedicated not only to cure diseases but to keep people remain healthy.

MISSION

NCSWONDER’s mission is to be a leader in the traditional medicine market and to also export majority of our medicines to Africa and the world at large, driven by scientifically researched high quality products and customer centred services in a company that is managed by highly qualified, skilled and knowledgeable employees working consistently as one team.

OBJECTIVES

To become the leading Herbal Medicine producer in Nigeria.
To expand production to 200,000 cartons in the next 5 years.
To achieve an annual turnover of at least 10million by 2020.
To open twelve (12) new outlets in 36 months.
To ensure provide quality sales service and products at fair and best possible prices.
To increase the profit margin by adequate percentage each quarter through efficiency and economy of scale.
To maintain a significant research and development and advertisement budget to enhance future product developments.

Our Goal

Provide high quality herbal medicine of international standard
To reach the nook and cranny of Nigeria, establishing our brand
To set a pace in the herbal medicine industry of Nigeria
Retain clients to generate repeat purchases and initiate referrals.
Consistent improve on productivity.
Lowering overall costs whilst increasing efficiency.

THE MOTTO

Creativity, Productivity and Innovation

CORE VALUES

Excellence
Creativity
Availability

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MILESTONE

Business name registration and opening of cooperate bank account
Lease of facility: completed
Purchase of delivery van: completed
Stocking of factory with necessary raw materials and equipment: completed
Drafting of employee’s handbook: completed
Recruitment of staffs in progress
Graphic Designs of company logo and Printing of packaging, marketing/promotional materials: in progress
Website set-up, online store set-up, digital marketing and radio jingles: in progress
Necessary insurance and license like health, fire safety arrangement, assets insurance: secured

KEY TO SUCCESS

Quality and Excellent Service: we make high quality herbal medicine that is well packaged maintaining an excellent relationship with our clientele (distributors, dealers and wholesalers) which are not available everywhere. This is essential for maintaining a long lasting profitable and healthy company.
Reliability: we are reliable and timely in deliveries. We never go below our standard of integrity, honesty and authenticity
Administration: we are committed to serve customers, prepare accurate billing, follow-up on orders and other documentation, and maintain a close watch on expenses and collection of accounts receivable.
Staff: our staff are qualified and experienced in the environment of this company; we ensure that we conduct frequent training and seminars to improve on the efficiency of our workforce.

Executive-Summary-of-Herbal-Business-plan-in-Nigeria

Our Products and services

We specialize in the production of herbal and natural medicines and other related medicinal products to cure, control or manage a number of ailments, most of which are not curable or manageable using orthodox western medicines. Some of these ailments which we provide medicines for include: gout, hypertension, low sperm count, amenorrhoea, kidney illness, sickle cell anaemia, diabetes, ulcer I & II, low pressure, malaria, hepatitis B, bacterial infections, Numbness, swollenness, worm infections, bleep pile, indigestion, irregular menstruation, itching, toilet infections, etc. We also provide medical consultation services to out-patients and operation of medical laboratory. We are capable of treating bacterial infections permanently.

Management team

Jude Okon– He is the founder and owner of NCS Herbal medicine; he has a B.Sc. in Pharmacy, a Diploma in Business Administration. He is well experienced in managing businesses. He is responsible for the overall strategic direction of NCS Herbal Medicine, communicates and ensures the implementation of the vision and objectives of the organization to employees. He constantly evaluates the success of the organization.

Makinde Temitope – She is a chartered accountant and has a master’s degree in business administration. She is also a certified project manager and will be assistant administrator and also in charge of book keeping, financial balancing, account management and projects head. She has a 8years experience in auditing, worked with Ascon firm in Lagos and Oris food co, in Ogun State.

Afolabi Oladipupo – He finished Agricultural-engineering from FUTA, a certified member of NSE He is the lead engineer and projects supervisor, he is in charge of maintenance and installation of all factory equipment, he also trains new recruits on factory safety measures, equipment operation and management.

Doyin Aderogba – She is head of sales marketing, she studied business administration from Uniben and she is a certified sales and marketing professional and has a 7years experience from Bright Foods. She has the following task:

In charge of conducting marketing research on how best to retain and attract customers
Carries out retail services on behalf of the organization

Executive-Summary-of-Herbal-Business-plan-in-Nigeria

Financial Plan

Places adverts on print, electronic and social media on behalf of NCS Herbal Medicine.

The business will reach positive cash flow in its 2nd year of operation, allowing for expedited repayment of its loan obligations, as well as for dividends to be paid to the owners. Revenue will top N10, 000,000 and profit will reach about N2o,ooo,ooo in the 2nd year of operation.