Executive Summary of Honey Business Plan in Nigeria

INTRODUCTION

NCS Honey has grown in popularity in recent years and raw honey, beeswax, and royal jelly are much sought-after products.

NCS Honey’s and honey production is a very lucrative business to venture into.

This beekeeping and honey production business plan have a 3 years projection revealing plans and milestones to cover in accordance with the vision and mission of our honey production business.

NATURE OF THE BUSINESS

NCS Honey is a commerce and production company, its object being Nigerian honeybee products. We collect, produce, pack, sell and deliver to domestic and external markets high quality honeybee products. The processes of producing and bottling are conducted in up-to date facilities equipped with necessary machinery, managed by skilled staff, in compliance with all appropriate sanitary and health regulations. Our quality assurance procedure guarantees we only produce and distribute from our partner beekeepers, first-class honey. Each type of honey is carefully stored and distributed on the market.

NCS Honey’s mission apart from raising its own bee farm is to enable beekeepers in Isheri Oyo South-western area of Nigerian sell their honeybee production by offering an opportunity to sell it at a fair price. The beekeepers will be encouraged to continue their activity and grow their production in order to offer them a profitable business. We are aiming to create wealth for the community we are living in and promote local image on the national and international markets. We focus on creating jobs for the local inhabitants, especially youth.

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

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OBJECTIVES

NCS Honey’s objectives are:

– to produce and collect quality honeybee products from the Nigerian beekeepers, distributing up to 12 tonnes in 3 years on domestic and external markets

– to create jobs for Isheri inhabitants

– to breakeven in the 2nd year of activity

OPPORTUNITY

Honey is a healthy product that is used worldwide. Changes in this industry have revealed an

opportunity for Nigerian honey producers to deliver high quality products to external markets. The markets in Western Europe are importing large quantities of honeybee products and lately, large exporters like China have suffered a decline in their preference due to using pesticides. The Nigerian honeybee products are ecological and are beginning to get noticed on those markets.

On the other hand, we consider there’s a good opportunity on the domestic market, as Nigerians are coming to know the benefits of consuming healthy products, such as honey. As the living standard will hopefully grow in following years, the domestic market will absorb more and more honeybee products.

THE COMPANY

NATURE OF THE BUSINESS

NCS Honey Bee is a specialty honey production, processing company, located in the southwestern part of Nigeria. We also deliver carefully selected honey from our partner beekeepers. Our focus is on providing a high quality natural product, at a fair price, delivered on time. NCS Honey’s floral source specialty honey is sold in consumer-oriented packaging, gift packs and bulk containers.

We will operate on the domestic market and on the external one, too.

VISION

To consistently supply the largest volume of honey and honey bee product of high quality, pure, and ecological throughout the world through a collective effort of raising and partnering with other bee farmers in Nigeria.

MISSION

To give our customer the very best products and customer service so that we may earn their trust and ensure continued business.
Higher/Significant share in the rupee earned
(up to 70%)
Achieve a 40% growth every year for the next 5years
To achieve break-even in the 3rd year
To establish & promote ecologically sound and sustainable processes

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VALUES

NCS Honey’s core values will include but not limited to the following:

Leadership
Excellence
Creativity
Transparency
Innovation
Accountability
Customer Satisfaction
Motivation

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

MARKET

The health benefit of Honey is widely spread these days as people are getting to see the danger of refined sugar to people’s health. The market is indeed huge as more households, supermarkets, shopping mall, pharmaceutical companies and the likes are also increasing their demand. We also focused on the international markets, as demands keeps rising for the wild pure honey from wild honey bee colonies. The market has grown from 35% to over 49% between 2015 & 2017 and the gradient is not going to come down soon.

PRODUCTS

NCS Honey will offer to the domestic market and for export high quality honeybee products such as: honey (extracted, comb and chunk), wax and bee glue.

The products will be packed and delivered in different formats from 200 liters metal drums to 200ml jars for honey and 25 ml bottles for bee glue. The product we offer, can be used in many ways, such as: diet supplements, as raw material in the cosmetics industry (lotions, skin creams, lip balms), furniture industry (polishes) and food industry (cookie recipes), etc.

The main element of the product strategy will be the development of a reliable supply chain and consistently high quality production. This will sustain our competitive advantage over our local competitors.

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

MANAGEMENT STRUCTURE

Jude Okon

I have 15 years’ experience in Integrated Agriculture and I have B. Agric from Obafemi Awolowo University Ile-Ife. I have master in business administration MBA from same school. I am in charge of strategy planning for the business.

Oyebade Adejumobi

I have worked with my father for 15 years from childhood in which I helped to keep the bees, sheep and snail meat in the farm. I attended training and organized workshops where I learnt how to run an Integrated Agriculture business. I am highly experienced in the business. I have a graduate animal scientist (GAS). I am a Project Management Professional and a certified business consultant.

We will manage the business to profitability by strategic production, marketing and sales. We will provide quality assurance in the business by always upgrade our product and services to the taste of time. We will ensure proficiency by employing more people with production and marketing skills.

FINANCING AND COST

The total investment would be up to N5,000,000 and it’ll break even in the 2nd year. The initial cost of incorporation is N200,000, in the first year investments of N4,500,000 being made. The two streams of revenue are the external and the domestic markets. The weight of exports will be 80%. The first revenues are expected in 5 months after operations start. Revenue will top N 9,525,000 and profit will reach about N1,869,515 in the 1st year of operation will reach about N12,589,640 in the 1st year of operation.