ENT210 START-UP FUNDING

Business Type:
CASSAVA FARM, PROCESSING AND
MARKETING.

Presented By the Group Members:

KALU CHINYERE NOU158949827
OBMERI YUSUF NOU171030492
GODWIN HELEN ADA NOU173025648
VICTORIA UBANA EGOM NOU159210990
OLOKO COMFORT MOYOSORE NOU181034089
 EXECUTIVE SUMMARY
• The Cassava Farming Industry is indeed a very large
industry and pretty much thriving in country such as
Nigeria.
• We are going into the commercial cassava farming
business because we want to leverage on the vast
opportunities available in the commercial farming industry
to contribute our quota in growing the Nigeria economy, in
national food production, raw materials production for
industries, to export agriculture produce from Nigeria to
other countries and over and above to make profit.
• As a matter of fact, with the recent advancement in
technology, farmers can now comfortably grow crops such
as cassava in a country where such crops can hardly
survive.
 OUR SERVICES
We are in business to produce both food and raw materials
for people and industries in commercial quantities. We will
also ensure that we operate a standard cassava processing
and packaging plant (laundry starch and animal feed
production) as part of our complimentary business.
• We are in this line of business to make profits, and we will
ensure that we do all that is allowed by the law of Nigeria
to achieve our business goals and objectives. These are the
areas we will concentrate on in our commercial cassava
farms.
• Cultivation of numerous cassava varieties (organic and non
– organic)
• Production of laundry starch and animal feeds
 Our Vision Statement
Our Vision is to become one of the leading
commercial cassava farms and laundry starch
and animal feed production brand in Nigeria.

Our Mission Statement

Victoria Cassava Farms, is a world class
commercial cassava farm that is in business to
cultivate cassava in commercial quantities, and
produce laundry starch in Nigeria.
 Our Business Structure

• Victoria Cassava Farms. is a commercial cassava farm that

intends starting small in Nigeria, but hopes to grow big in
order to compete favorably with leading commercial
cassava farms in the commercial farming industry both in
Nigeria and on a global stage.
• We are aware of the importance of building a solid
business structure that can support the picture of the kind
of world class business we want to own. This is why we
will be committed to only hire the best hands in and
around Nigeria.
• At Victoria Cassava Farms, we will ensure that we hire
people that are qualified, hardworking, dedicated,
customer centric and are ready to work to help us build a
prosperous business that will benefit all the stakeholders
 Victoria Cassava Farms would hire qualified
and competent hands to occupy the following:
positions;
• Chief Operating Officer
• General Farm Manager
• Administrator/Accountant
• Cassava Cultivation Manager/Supervisor
• Laundry Starch and Animal Feeds Production
Plant Manager
• Sales and Marketing Executive
• Field Employees
• Front Desk Officer
 Strength
• Our strength as a commercial cassava farm is the fact
that we will establish a healthy relationships with
loads of major players (agriculture merchants and
manufacturing companies who deal in cassava) in the
commercial farms industry; both suppliers and buyers
within and outside of Nigeria.
Weakness
• Our weakness could be that we are a new commercial
cassava farm in Nigeria, and perhaps the fact that
cassava farming is not a popular venture in Nigeria.
We are aware of this and from our projection will
overcome this weakness with time and turn it to a
major advantage for the business.
 OPPORTUNITIES
• The opportunities that are available to us cannot be quantified;
we know that there are loads of individuals who consume
organic and non – organic cassava in different forms both in
Nigeria and other parts of the world.
• We will ensure that we maximize the opportunities available to
commercial cassava farmers.
THREAT
• Some of the threats and challenges that we are likely going to
face when we start our own commercial cassava farm are global
economic downturn that can impact negatively on household
spending, bad weather cum natural disasters (draughts,
epidemics), unfavorable government policies and the arrival of
a competitor (a commercial farm that cultivates same crop –
cassava) within same location. There is hardly anything you can
do as regards these threats and challenges other than to be
optimistic that things will continue to work for your good.
 MARKET ANALYSIS
Market Trends
• One of the common trends in the commercial cassava farming
line of business is that most players in the industry are no longer
concentrating only on non – organic cassava farming. They now
find it easier to run both organic cassava cultivation and non –
organic cassava cultivation. It is a fact that despite that organic
food is expensive, the sale is on the increase and it is indeed
profitable.
• Despite the fact that commercial cassava farming has been in
existence since time immemorial, it does not in any way make
the industry to be over saturated; commercial cassava farmers
are exploring new technology to continue to improve
cassava cultivation, preservation and processing processes;
mechanized farming has indeed increased the tons of food
produced by farmers. The fact that there is always a ready
market for cassava makes the business highly profitable.
 OUR TARGET MARKET
• It is a known fact that the end consumers of cassava
and those who benefit from the business value chain
of commercial cassava farming is all encompassing.
• Almost every household makes use of products
from cassava or consumes cassava in different
forms. In essence, a commercial cassava farmer
should be able to sell his or her farm produce to as
many people as possible including laundries,
alcoholic beverage production companies, laundry
starch production companies, livestock farmers and
other production companies that make use of
cassava as raw materials.
 SALES AND MARKETING STRATEGY
• We are quite aware that the reason why some commercial
cassava farms hardly make good profit is their inability to
sell off their cassava as at when due. In view of that, we
decided to set up a standard cassava processing plant to
help us maximize profits.
• Our sales and marketing team will be recruited based on
their vast experience in the industry and they will be
trained on a regular basis so as to be well equipped to
meet their targets and the overall goal of the organization.
We want to build a standard and world – class cassava
farm that will leverage on word of mouth advertisement
from satisfied clients (both individuals and businesses).
 Victoria Cassava Farms, will adopt the following
strategies in marketing our cassava;
• Advertise our business in agriculture and food related
magazines and websites
• List our commercial cassava farms on yellow pages ads
• Attend related agriculture and food expos, seminars,
and business fairs et al
• Leverage on the internet to promote our business
• Engage in direct marketing
• Encourage the use of Word of mouth
marketing (referrals)
 FINANCIAL PROJECTIONS AND COSTING
• Below are some of the basic areas we will spend our start –
up capital in setting up our commercial cassava farm;
• The total fee for incorporating the business in Nigeria
– N286,000
• The total cost for payment of insurance policy covers
(general liability, workers’ compensation and property
casualty) at a total premium – N3,586,100
• The amount needed to acquire/lease a farm land
– N19,075,000
• The amount required for preparing the farm land
– N26,705,000
• The cost for acquiring the required working tools and
equipment/machines/fencing et al – N3,815,000
• The amount required for purchase of the first set of cassava
seedlings et al – N19,075,000
• The amount required to set up a standard cassava
processing plant within the farm facility – N38,150,000
• Operational cost for the first 3 months (salaries of
employees, payments of bills et al) – N15,260,000
• The cost of launching an official website – N228,900
• The amount required for payment of workers for a
period of 3 months – N38,150,000
• Additional Expenditure (Business cards, Signage,
Adverts and Promotions et al) – N763,000
Going by the report from the detailed research and
feasibility studies conducted, we will need an average
of N190,750,000 to start a standard commercial cassava
farm with cassava processing plant business in Nigeria
 These are some of the equipment that we will need to fully launch our
commercial cassava farm:
• Tractor
• Soil cultivator
• Plough
• Harrow (e.g. Spike harrow, Drag harrow, Disk harrow)
• Stone / Rock / Debris removal implement (e.g. Destoner, Rock windrower /
rock rake, Stone picker / picker)
• Broadcast seeder (alternatively: broadcast spreader, fertilizer spreader, or Air
seeder)
• Planter
• Plastic mulch layer
• Transplanter
• Sprinkler system irrigation
• Mower
• Sickle
• Wheel Barrow
• Truck
 BUSINESS GROWTH
Sustainability and Expansion Strategy
• One of our major goals of starting Victoria Cassava
Farms, is to build a business that will survive off
its own cash flow without injecting finance from
external sources once the business is officially
running. We know that one of the ways of gaining
approval and winning customers over is to sell our
farm produce (organic and non – organic cassava
and even processed and packaged laundry starch
and animal feeds) a little bit cheaper than what is
obtainable in the market and we are well prepared
to survive on lower profit margin for a while.
THANK YOU!