Stationery Shop Business Plan in Nigeria – When a person is asked if he would want to start a business you would find out that the said person would mention a lot of things, from sale of electronics, to foodstuff, teaching, but no one would ever really think as far as the stationery business.

Get your Stationery Shop Business Plan and feasibility study pay N30,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “stationery business plan in Nigeria” to  07033378184

This is a silent mint that has been in existence for years and has only been growing in value. For as long as there are offices and schools in existence there will always be a need for a fully stocked and reliable stationery dealer. Stationeries that come to mind are pencils, rulers, erasers, biros, chalks, markers, staplers and staple pins, paint brushes, cardboards, crayons and water colours, jotters, A4 papers, decorations, balloons ,but essentially these  only make up 15% of the stationery business. A massive profits can be made from this if a solid marketing plan and business plan are put together so as to not only attract the right clients to the shop but to also make an impressive profit.

Also Read: Computer Based Center Business in Nigeria

One of the key things to keep in mind is knowing what your stationery shop is going to be targeting, the stationery business is such a wide business that one cannot possibly especially at the inception of the business cover the entire needs of clients so it is best to focus on the gap or the niche that the stationery shop would go into. This niche is one that the dealer would have to investigate and do a survey on to find out the weaknesses in other stationery shops and how to take advantage of these weaknesses and supply in a manner that would satisfy customers where others have failed.

There are several objectives or paths which is stationery dealer can focus on, some of which are;

Writing Materials and Office Stationeries

1. Supply of official diaries
2. Supply of jotters and writing materials.
3. Supply of A4 papers
4. Supply of stapler and staple pins
5. Supplier of calendars and cardboards
6. Supply of notice boards
7. Supply of pens pencils, books and other writting materials

Education and Schooling

1. Supply of books for students
2. Supply of pens and other writing materials
3. Supply of textbooks
4. Supply of maths sets
5. Supply of cardboard papers
6. Supply of paint brushes watercolors and markers.

And so on.

As a dealer one needs to think out of the box to enable them satisfy customer requirements. By providing these materials at an affordable rate one would be able to secure students and pupils as steady customers. As a dealer one can market their business as a means to encourage learning for students and also teaching for teachers by making stationeries available at a reasonable price. Location also been a key factor in the stationery business, the shop has to be close to the customer to enable them patronize you without having to go to the market or long distances to purchase stationeries. Like every business one would worry about the profitability but in the stationery business it is very possible to be successful in it due to the large number of schools in Nigeria, some streets have up to 20 schools and these schools need a steady supply of stationary be it in retail or in wholesale.

According to Federal Ministry of Education Nigeria there are 746,596 primary school teachers, 292,080 in junior secondary schools and 398,275 teachers in senior secondary schools nation wide. Which creates a very large market space waiting to be exploited by dealers in stationeries. The population of students in the country also grow exponentially with each passing year as education is becoming a necessity even in the rural areas in the country. Where the power of marketing comes in would be the task of pitching successfully to these schools in a manner that would grant you do contracts of supply or permission to open shop in the vicinity. Once this is done success wouldn’t be far away. A key points to remember as to why the stationery business is one that is very lucrative is that the marketplace isn’t flooded as the business is not a flashy one as to attract the attention of many, so one can function without the threats of massive competition. To the buyer or the customer the Stationaries being sold are not exactly expensive they are quite affordable such that children are able to buy several at a time and because of this the turnover is quite high as many would have no problems patronizing the dealer. As a dealer the trick to the business lies in buying wholesale and selling and large quantities to interested schools and offices that are in need of stationeries, being a consistent provider and a reliable one would attract customers from far and wide.

There are very simple steps one needs to adhere to to be able to successfully start or delve into the stationery business.

Before Starting a Stationary Business in Nigeria

Budget – Starting a stationery business is very cost-effective one needs to have a budget of 200 thousand to 1 million naira before starting the business the amount of money needed in the business solely depends on the scale of the business. the scale of business meaning whether you would want to start small or starts big and also location plays a huge role in the budget of the business as well as size of the shop. Most shops can cost as high as 500,000 to rent and others as low as 100,000 to rent. These factors are solely dependent on location and size of the shop. Other landlords may choose to make their properties easily accessible to any class of tenants by opting to take a monthly rent instead of a yearly one which can be very helpful to businessman seeking to get low cost shops for themselves.

Another factor to consider when getting a shop is the cost of furnishing, furnishings such as shelves, electronics, chairs and any other effects needed to make the shop fully functional and comfortable may cost a deal of money. Payment of staff salaries is also a factor to consider but the average stationery shop rarely needs more than two people to run it on a day-to-day basis.

Business Registration – Registration of businesses in Nigeria is very important not just from a legal standpoint but also from the view of the customer a registered business is a trusted business. This alone gives the customer much confidence to buy as much as they would want without fear of being swindled. registration of business is also important if you plan on being in the business for a long time, from say 2 to 20 years. The tax system in Nigeria is slowly getting intense and the tax offices such as FIRS are steadily making it difficult for individuals who own businesses that aren’t registered to function peacefully. Business registration is therefore important for the businessman in order to function and run his business with complete peace of mind.

Renting a Shop – A very important factor to take note of when going into the stationery business is that one needs to rent a space that is closest to the customer. In a manner of speaking the businessman has to bring the business to the doorstep of his customers. The perfect location would be a place where more than 2 to 5 schools or offices are in close proximity to each other, this would make it ideal in order to reach a larger customer base with very little effort. workers, parents and children should be able to access the stationary shop without having to go far away from their workplace or their school or place of work. After this has been sorted out one now needs to rent a shop according to the budgets at hand so as not to overspend on rent. It is important to work with them your budget and get the best out of it as stationery shops rarely need much aesthetics.

Design and Furnishing – Stationery shops don’t really need excessive furnishing, one just needs to focus on a number of shelves, a showcase, a store and also the electronics and wiring.

Purchasing Stationeries –  When the furnishing is done the next step is the purchase of stationeries from a dealer that deals in wholesale buying from a retailer would not help in getting the amount of profits needed to give the business a turn over. When buying stationeries one needs to have in mind the needs of a wide customer base both the rich customers and the poor customers.

Business Strategies –  Business strategies when running a stationery business are just like every other business.

1. Sending proposals to schools and offices is a good way to let people know that you exist and you can provide the needs.
2. Offering discounts put you in direct competition with any other stationery shop in the area, this technique is used to destabilise the market in your favour.
3. Doing giveaways mostly works with schools and is a great way to win the hearts of students, for example giving one pen, sharpener or eraser free when a certain amount of books are purchased from you.
4. Attending school parties and having a stand in the party arena.

The stationery business is one that is very profitable even though capital-intensive but with hard work and a good business acumen and innovation success is definitely certain.

Get your Stationery Shop Business Plan in Nigeria pay N30,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “stationery business plan in Nigeria” to  07033378184

Stationery Shop Business Plan in Nigeria © www.businessplan.com.ng

The post Stationery Shop Business Plan in Nigeria appeared first on Business Plan.

How to Start a Crayfish Business in Nigeria

How lucrative is crayfish business in Nigeria?

Crayfish is a business that can be started with a very low capital and overtime has the potential to turn the trader into a millionaire, this can be possible with hard work study of the business and persistence. A trader has the ability to make up to 50% returns on investments on each bag sold, while the bags may vary in size and weight the calculation remains the same. As a 5 kg bag goes for 30,000 the gain on each bag sold should be 15,000 naira, when you factor in cost of transportation and other expenses which one may incur. A lot of money can be made from the business especially when the crayfish is being sold in large quantities such as 10 to 100 bags. 150 bags a month would turn the buyer into an instant millionaire. In a country where 9 to 5 Office jobs and other corporate employment fail to provide the financial requirements of their day-to-day workers, side businesses have been the solution to the economic problem going on in Nigeria. Which is why businesses such as crayfish business is slowly becoming a norm in the country as the food business is one that can never be affected by economic drought.

Where can I sell crayfish in Nigeria?

Identifying one’s market is the best way to start any business. The high demand for crayfish is proof that there is market for it, because it is consumed every day there is a high demand for it and it has an ever-growing market. It can be started with little capital as one can buy a bag and then grow from there. Crayfish doesn’t have a fixed price due to their market and the scarcity of fish as well as inflation in the country. With an average of 100,000 naira one can start a crayfish business, buying at least 3 bags of crayfish. A business plan is required however one where the seller would decide if they are selling in small bags or big bags or even containers this will determine how much capital is needed to run the business. One can also sell in all sizes of bags and containers, the business is very easy to manage and requires little or no stress as the crayfish is already processed and dried and has a long shelf life as long as they are kept clean sealed and dry.

Also Read: Poultry Farming in Nigeria

In order to make a sizable profits in the crayfish business one needs to cut out the middleman and buy directly from the farmers or distributors even if it means traveling to their States or placing orders for it to be sent over via courier service this would go a long way in increasing returns being that any extra charge on top of their price would be your profit. This is by far the only way to maximize the profitability of this business. As it would help you dictate your price in a manner that suits you.

Where is the best crayfish in Nigeria?

While akwa-ibom is popularly known as the center for buying crayfish due to its low prices and quality, this isn’t always true as crayfish can be bought from a number of other States in Nigeria including Ogun and Ondo. It is important to know however that akwa ibom is favoured by marketers because it has the highest quality, taste and it is also nearly dirt free. The cleanliness of the crayfish is as per request of the customer because majority of customers are turned off or put off by the sight of dirt being on their crayfish, this would make cooking very difficult as it would add sand to the meals that have been prepared and even the most careful chefs often miss things. So in order to keep a loyal customer base one must ensure that the seller of the crayfish sells only the cleanest highest quality available because most clients would not give their cell is a second chance.

One can buy as many bags as required or as your finances would allow and sell to market women or package and sell to individuals through your own personal channels. Social media is another great market base which is often really explored by businessmen and women. With social media one can save money on buying a shop or renting one and just deliver directly from their home to the client’s home, making the job of selling crayfish a lot easier. There are currently a number of markets spaces on social media ever owned by young enterprising youth that are finding success through it. Payments can be made via bank transfer. And because the crayfish is dry and has a high shelf life they can easily be stored in your home as long as they are kept in a cool dry place devoid of moisture and water they can last a very long time.

How to Package Crayfish for Sale

The crayfish can be packaged in Ziploc bags, waterproof bags, 5 kg bean bags 10 kg bean bags and so on. the different sizes and packages will definitely come with different prices which you would calculate and put on the products making it easy to determine profits while giving your business a professional and look and standard. In our current world buyers value quality which is why the utmost care must be taken when selecting the packaging for your crayfish however this is solely dependent on your selling method or your customer base. For a more commercialized look and appearance of the crayfish one can purchase Ziploc bags and have them branded with a logo making it more appealing to customers, this act alone can validate the increase in pricing as your crayfish can now be marketed as high quality. They can also be sold and powder form which would mean you would have to own a grinder or a blender to be able to convert the crayfish to powder. The powdery form of the crayfish is sold at a higher cost than the one that hasn’t been grinded. Because in the powder form it is now ready to be used as spices for soups and other dishes by the clients taking away the stress of having to grind the crayfish themselves. The powdery form of the crayfish can also be sold in Ziploc bags waterproof bags as well as being bags if need be but they are often sold in smaller quantities and you would most likely find more people interested in Ziploc bags and waterproof bags of crayfish.

Recommended: Vegetable Farming in Nigeria

The crayfish business has opened a lot of opportunities for upcoming and industrious people that have been affected by the economy of the country and the lack of jobs available in Nigeria. It can be used as a full-time job as it can very well provide for one’s family and daily needs all this though, is solely dependent on your business skill and practice.

Having a number of places where one can buy crayfish can be the difference between one seller and the next because having a number of locations where crayfish is sold would mean that you will always have stock in times when crayfish is scarce in certain locations. The most common places where crayfish is sold in Nigeria again are Akwa ibom, Ogun and Ondo. In Akwa ibom is sold at Oron and Ibeno. People from all over Nigeria even the North and the middle belt of Nigeria frequent Akwa-ibom to buy crayfish, however in cases of scarcity crayfish sellers often go as far as traveling to Cameroon to get crayfish for their clients this would of course affect the pricing of the crayfish but it is to be expected as stated earlier in this article that the price of crayfish fluctuates due to the economic condition of the country as well as the supply and availability of the crayfish.

How to Start a Crayfish Business in Nigeria © www.businessplan.com.ng

The post How to Start a Crayfish Business in Nigeria appeared first on Business Plan.

Also Read: How to get a Business Loan in Nigeria

Of course, there are limits to how much loan you can get on these mobile applications; they, however, are an effortless way of getting finances available to meet urgent needs both personally and in your business. Getting money is quite essential; however, getting it at the time when it is needed makes it more valuable, and this is why one must have at least a brisk knowledge of these loan applications.

We will highlight some of the quick loan apps in Nigeria that provide instant loan services to Nigerians all across the nation.

Instant Loan Apps in Nigeria

There are several loan applications in Nigeria; we will highlight some of the topmost ones and their features in the following lines.

Paylater Loan App

The Paylater app is one of the foremost names in the mobile loan applications circle in Nigeria. This mobile application is operated by a finance company names One Finance & Investment (RC 1044655). The Paylater administrators are licensed by the Central Bank of Nigeria to operate as financial service providers in the nation.

Paylater can lend as much as one million Naira in loan amounts, and it is one of the most reliable loan applications in Nigeria. Asides the fact that Paylater lends money to individuals and organizations, Paylater is also into investments. The ROIs of Paylater is as much as 15.5% annually. This is good news; perhaps you want a way to grow your extra money and have been wondering how to go about it. The Paylater app is the option you need.

The process of getting a loan out of the Paylater app is quite easy. First, before all, you need to download the Paylater app from your app store (Google Playstore for Android devices and Apple App Store for IOS devices). Once the application is downloaded, you need to register and fill a few details. The details you supply will be the determinant factors as to how much you can get in loan amounts from the Paylater platform. After all the details have been put into the application, and the registration is successful, the app will show you how much you can borrow, and it should be able to process your loan application in a few minutes. If the loan application becomes successful, you will be able informed on the app interface.

The process is pretty much a walkover, as there is no special documentation needed for the loan application process. The most crucial information that will be required for the registration of your account on Paylater is your bank verification number. Loan applications use the bank verification number to determine how much your accounts are averagely worth, and this will help the app determine how much money it can lend you within your safe comfort zone.

There are four ways to repay a loan on Paylater. You can pay back the loaned amount via your ATM card, Quickteller, a bank transfer, or through the Paylater wallet.

Download the Paylater App to fast loan.

PalmCredit

PalmCredit is another loan service providing app in Nigeria. Transsnet Financial Group operates this mobile application. The PalmCredit application is one that is quite empathic with the needs of its customers as its services are customer-centric.

Palm Credit can lend as much as one hundred thousand Naira in loan amounts to its customers, and it also offers a variant in the type of loan it provides its clients.

PalmCredit offers both cash and airtime loan services, depending on the preferred option of its clients. The cash loan of the PalmCredit app is payable in a three-month timeframe. The interest on the cash loaned amount usually falls between twelve (12) and twenty-four (24) percent within the time frame. The airtime loan of the PalmCredit app is payable in fourteen days and comes with an interest of twelve percent of the initially loaned amount.

Getting a loan from the PalmCredit app involves pretty much the same process as it would take to get a loan on the other loan apps in Nigeria. All you need to do is download the PalmCredit App form your app store. Complete a few registration forms in the app, and you’re ready to start enjoying the loan within the comfort of your room. There are no special registration requirements for the use of this app, and it is quite a user-friendly one.

You can return loaned amounts in two ways on the PalmCredit app, either through the app itself or via bank transfer.

Download the PalmCredit instant loan App.

Branch

Branch is another of the foremost names among loan application in Nigeria. The services of Branch are quite standard, and this loan app can offer loans as much as a hundred and fifty thousand Naira in a short while. Branch is a dominant name in the financial services industry, and this is not only true for Nigeria, Branch operates in four other countries of the world: Mexico, Kenya, India, and Tanzania.

Depending on the terms that surround the loaned amount form Branch, the interest rates vary between one (1) and twenty-one (21) percent. The factors that dictate the interest of Branch loans are the amount loaned as well as the time of repayment. If you pay back on time, the interest may not raise the ladders. It, however, keeps gradually rising as time passes (although the interests are mostly affordable even when they grow).

Branch offers five types of loans, and we will highlight them briefly here:

• Personal Loans
  These are loans that are a way of getting personal needs met.
• Travel Loans
  These are loans that Branch provides for those who wish to go on a journey. The travel loan will cover all expenses that accompany the journey.
• Business Loan
  These are loans that are provided for engaging in business activities.
• Medical Loans
  Sometimes, medical treatments can be costly, and people may sometimes need a little extra weightlift to pay off the medical bills. Branch also offers services that cover medical bills.
• Emergency Loans
  These are loans that Branch provides to cover for unforeseen situations that arise around its customers.

Getting a loan on the Branch app involves the following processes:

• Download and install the Branch app form your application store
• Complete the registration forms
• And there it is, you’ll be shown how much Branch can offer you as a loan. The amount Branch can provide you with as a loan is usually determined by the information you give to the application in the registration process, especially your account details and Bank Verification Number (BVN).

Paying back is also a walkover on the Branch app, as it offers four dynamic methods of loan repayment on its interface. You can pay back via your ATM card, USSD code transfer (available only to GTB customers for now), bank transfer, and with your bank account as well.

Download the Branch loan app.

Aella Credit

Aella Credit is another loan app that is on the rise in Nigeria. The app has been in service for four years, and it is still operating with excellence in its service delivery. Aella Credit offers loan amounts between one thousand, five hundred Naira (NGN 1,500), and ninety thousand Naira (NGN 90,000). The unique thing about a loan from the Aella app is the fact that it offers a monthly interest rate, unlike other loan apps whose interests increase with time. The monthly interest rate of Aella varies between 4% and 29%, and loans are payable within thirty to sixty days.

Getting a loan from the Aella app involves first of all other steps, downloading the Aella Credit app form your mobile app store. After downloading, register on the app, and fill all necessary details as requested. You will be asked to take a selfie and set a pin for getting into your Aella Credit account, and there you go, you are ready to start enough the credit facility of the Aella Credit app.

Paying back is also easy on the Aella Credit app; you can either pay back via your debit card or bank transfer. If you opt to go for the option of paying back via debit card, the money is just deducted from your account because the details of the card would have been put in the registration process of your Aella credit account. The faster you pay back your Aella Credit loan, the more loan opportunities you are opened to, and the more you are allowed to borrow next time.

Download the Aella Credit fast loan app.

Fair Money

FairMoney is another loan application that’s operational in Nigeria. If you seek a place to get a loan without any hassles, then FairMoney is the option you’re seeking. FairMoney offers loan amounts between one thousand, five hundred Naira (NGN 1,500), and one hundred and fifty thousand (NGN 150,000) Naira. The loan amounts on FairMoney are repayable between one and three months from the date of borrowing. Like many other loan apps, the faster you pay back your loan on the FairMoney app, the more loan opportunities you can get. FairMoney also operates on a monthly interest basis and charges between ten and thirty percent interest per month, depending on the parameters that surround the loan. Another unique thing about FairMoney is the fact that it determines how much it can give you as a loan from your previous loans.

Getting a loan from the FairMoney app involves a simple set of processes as listed below:

• Download the FairMoney app
  You can do this on the Google Playstore for android mobile devices and the Apple app store for IOS devices.
• Complete Registrations
  You will be required to complete a simple registration setup before being allowed on the FairMoney loaning interface. Your Facebook account and your phone number will be needed for the registration process.

Repaying loans on the FairMoney app is also quite easy. You can pay back either via a direct bank transfer or a bank deposit, depending on your preferred option.

Download Fairmoney Instant Loan App here

KiaKia

‘KiaKia’ is a Yoruba word meaning very fast. This tells a lot about the services of this loan platform. Aside from the fact that this loan platform offers loan services, speed is another essential value which the KiaKia loan platform gives to its clients. Asides the fact that the KiaKia platform offers loan services, it also uses a powered machine system to connect loan demands and loan givers on its platform. You can, therefore, get a loan on the KiaKia platform, and you can also give a loan on its platform. KiaKia does not have a mobile app at the moment, but you can process all of your loan applications on its website. The KiaKia platform has a bot that will guide you through the registration process on its platform, and enable you access to loans.

KiaKia works in partnership with Sterling Bank, and it offers loan amounts between ten thousand Naira (NGN 10,000) and two hundred thousand Naira (NGN 200,000). KiaKia loans come with an interest that ranges between 5.6% and 24% depending on the terms that surround the loan. Some of the factors that influence the interest on KiaKia loans are your credit score on its platform and the loan duration. KiaKia loans are repayable within seven (7) to thirty (30) days from the date when the loan was approved.

Getting a loan from KiaKia is also a walkover. All you need to do is visit its website and click the link that says, “Click to get loan.” You will be required to fil some details, after which you will be asked to upload your recent passport photograph and an Identity card (a work ID preferably). You will also be required to fill the details of your working bank account, and there it goes, you get access to loan facilities on the KiaKia platform.

Loan repayment is relatively easy on the KiaKia platform. You can authorize the platform to gain access to your bank account and get the loaned amount back when you desire to repay. And, not to worry, the process is very safe and secure.

Download Kiakia Loan App

RenMoney

RenMoney is another popular name among loan apps in Nigeria. RenMoney operates under the license of a Microfinance bank. RenMoney does not just provide loan services; you can also save your money on its investment platform and get some interest on the amount you placed as an investment on its platform. Therefore, if you seek more than a loan application in Nigeria, but also a place where your money can just grow securely, the RenMoney app is the one you need to do the job.

RenMoney gives loan credits ion some set of conditions as listed below:

• The loan applicant must be between twenty-five (25) and fifty-nine (59) years of age
  The reason for this condition is because RenMoney believes this age range would still be active and able to work and repay loaned amounts.
• The loan applicant must have a valid and legal source of income
  RenMoney wants to get back loaned amounts, and so it wants to make sure the person applying for the loan is one that’s working and can repay loaned amounts without defaulting.
• The loan applicant must have a savings account
  This is the account to which the loaned amount will be sent.
• The loan applicant must live ow work in the cities where it operates

RenMoney can offer a loan as much as four million Naira (NGN 4,000,000), and its repayment term can last as long as twelve (12) months. RenMoney offers an interest rate of 35.76%.

Getting a loan out of the RenMoney app is also easy; all you need to do is download the RenMoney app form your mobile app store. Register on its platform, and there it goes, you can apply for a loan as you desire and within the limit which you are allowed.

Download RenMoney Loan App

Other Loan Applications in Nigeria

There are several other loan apps in Nigeria, and we will list some of them here; however, you must take note that the list here is not exclusive and so there may be more of them.

• QuickCheck
• Okash
• Kwikmoney (MIGO)
• Soko Loan
• Jumia One

Conclusion

The world is continually evolving, and so are the systems that accompany the running of the world. The evolution of the world has brought Nigeria to the point where we can get loans from the comfort of our rooms and closets right now.

The Fintech industry has seen a revival in the past decade, and with the recent technological innovations, one can be sure there is more to come.

Quick Loan Apps in Nigeria © www.businessplan.com.ng

The post Quick Loan Apps in Nigeria appeared first on Business Plan.

In this article, we will demystify the meaning of savings and current accounts, the benefits attached to each of them as well as the best fit for each of them.

Savings Accounts

A savings account, just as the name sounds is an account best suited for saving money. A savings account intends to help people save some money, and so, all the accompanying factors of a savings account are designed to help people save more.

A savings account is more suited for personal use because there are a few limitations that surround its use. Savings account are quite easy to open. In many banks, a savings account can be opened within days of the application to set the account up. The documents required to set the savings account up are not so stringent as most times, the primary document required is just a proof of identity.

The savings account can be ready to use within just a few days after the application for its opening is filled. It takes only a minimal amount of money to open a savings account. Some banks allow savings account to be opened without any money at all. The reason for this is because the account is designed to help people save, and savings generally come in small chunks. The savings account is quite the account offer personal use because asides the cat that it helps an individual get disciplined with spending; it also earns interest on saved amounts per month.

Savings accounts apply to many in our society. Students, professional of various genres, and other individuals are the best fit for the use of savings accounts. Some organizations also use savings accounts for the running of their operations (this is not advisable for large companies, however).

Many times, there is a limit to the amount of transaction you can perform with a savings account, and this is why it is the best fit for large organizations who need to engage many substantial financial transactions. Many companies pay the salary of their staff into a savings account, and so saving accounts are sometimes used as salary accounts.

Savings accounts come with some material which allows for the easy access of the funds of the account holder at any time. Savings accounts come with ATM debit cards with which the account holder can withdraw funds anywhere, and now with the inception of ATM payments, people can also save into their saving account with their ATMs. Savings accounts, however, do not come with a cheque book. Savings accounts do not allow third-party access to the account.

Current Accounts

A current account draws its name from the word current, and it means it is an account that is best suited for consistent transactions. Current accounts are not designed to help save, they are more suited for regular transactions and financial engagements. All the factors that come with a current account are designed to help the user of the account engage in a lot of transactions (and sometimes weighty ones too).

Because of the purpose for which it is designed, a current account is a name that is more common in the financial circle of organizations and industries. Current accounts are more suited for the use of these because they engage in a lot of financial transactions almost daily.

The process of salary payment of some industries can be a very tedious one, and if the proper account is not engaged, there may be hitches in the salary disbursement of its staff. All these are why a current account is the better option for industries and large organizations.

Setting up a current account is also easy, although it requires more than a savings account in terms of verification. A current account can have more than one signatory, and this is an added advantage because a double signature can process payments. The signatory process of current accounts is another aspect of these accounts that will take a lot to write about their applications. However, it is possible to have even up to three or four signatories per current account. The organization can tell the bank to allow payments to be processed on the approval of any two of the signature. Some organizations set one of the signatories as the primary signatory of the account, and tell banks not to process payments until the signature of the primary signatory is signified on the payment order.

Current accounts come with a cheque book with which the account holder can process payments without having to go to the bank and make a withdrawal himself/ herself. The availability of cheque books with the use of current accounts makes current accounts a perfect fit also for people who intend to send payments without having to get to the bank. The availability of a cheque book is one of the advantages which a current account has over a saving account which does not allow any third party access to the account. Asides this, a current account has no limits to the number of transactions that can be performed on it, because it is designed to accommodate many transactions.

Unlike savings accounts, a current account does not earn interest.

Conclusion

Deciding which of these account options is best for you should not be hard in the light of the points listed above. As a rule of thumbs (although there are exceptions) a savings account is best for personal use, while a current account is the best fit for companies and organizations.

If, however, you are one that’s very busy and need to make payments consistently, a current account may serve you better than a savings account.

Difference Between Current and Savings Account © www.businessplan.com.ng

The post Difference Between Current and Savings Account appeared first on Business Plan.

Get your Sheep Farming Business Plan in Nigeria and feasibility study. pay N10,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “sheep rearing business plan in Nigeria” to  07033378184

Sheep rearing is relatively easy to manage when compared to the effort and money required to operate other forms of farming ventures in Nigeria. Asides all these, sheep feeding and upkeep is not as expensive as that of other animals.

Setting up a sheep farm in Nigeria is just a simple mix of some factors that out the sheep farm ion the edge for a better chance of success. In the following lines, we will discuss some of the factors that should be put into consideration in setting up a sheep farm in Nigeria. We will touch some of the things to expect, the profitability of the venture as well as some of the likely challenges one may encounter trying to get the sheep farm in shape. One must, however, note that knowledge has no boundaries, and so the content of this material may not be all you need to know about setting up a sheep farm, especially in Nigeria. However, we can assure you that the content of this article will give you a whole lot more than you would have had to cycle round to pick in fragments.

The Relevance of Sheep in the Nigerian Economy

A sheep is a ruminating animal. Sheep are generally known for their gentleness and vulnerability, and a group of sheep is called a herd. A herd is led by someone called a shepherd. The shepherd is the one who leads the sheep out to feed them in pastures and keep them safe from danger in the process of their feeding.

There are several breeds of sheep in Nigeria, and each of these breeds has unique features with which they apply to human lives. Some sheep breeds are raised for the wool on their skins. The wool on the skin of wool-based sheep makes them of very great importance to the lives of both the sheep farmers and the general economy of the nation. The wool on sheep is used to make a lot of economically relevant materials. The wool on sheep is applicable in the fashion industry as some clothes are made with wool. It is also relevant in the furniture industry, as it is used as an additive for the making of chairs and some sofas.

Some sheep breeds are also raised for their meat. In the Nigerian economy, the most common type of meat is the female cattle (cow) meat, which is generally termed as red meat. Some medical practitioner advises against the consumption of red meat, and this has spurred a lot of people to settle for sheep meat as it is better than beef meat medically. The market for sheep meat is quite voluminous in the Nigerian nation, and the entirety of the Nigerian meat production industry has still not leveled up with its demand in the Nigerian market. This is, therefore, excellent leverage upon which sheep farmers in the Nigerian economy can thrive and level up the sales of their animals.

Commercial sheep farming in Nigeria is a very profitable venture, and the prospects embedded within this form of farming are endless. Another very fantastic factor that makes sheep rearing very interesting is the fact that sheep get into heat every sixteen (16) to eighteen (18) days. This means that sheep can get pregnant in that interval of time, unlike some animals that take a very long time to enter heat. Sheep have a gestation period of a hundred and forty-eight (148) days. The productivity of this kind of farming is not in question at all, as it can give a lot within its lifetime (which can last as long as seven years).

Starting a Sheep Farm in Nigeria

The challenge of any business lies in the word at the forefront of this sub-topic: “starting.” Stating any venture always seems so ambiguous until the business is Kickstarted. We will highlight some of the things you need not only to start your sheep farming ventured in Nigeria, but we will also state some of the things you will need for continuous sustenance of the venture over a lengthy time. Most times, most people believe all you need to start a business venture is money, and while this is true, it is not the entirety of the truth, as money is only one of the factors which make up for the start of a good business, and not the only one. Some even believe spending too much money at the beginning of a business can lead to the failure of the business as the business owner spends based on contemplation and not fact. The list below contains some of the most critical factors that make up for a good sheep farming venture in Nigeria:

• A Sheep Farming Business Plan
  Developing a business plan is one of the most important for the start of any business venture. Whether you desire to engage your sheep farm for commercial activities or just for the sustenance for your family, it is important to have a business plan that encircles all of the areas of the venture. The business plan is a plan that iterates a list of the objectives that the business should achieve and how it is to go about it in a specified timeframe. The business plan will be the key performance indicator for the sheep farming business. It would state stages of the growth of the business such that anyone can review the business plan and the actual business at any time and know whether the business has met up with the expectations in its plans. The business plan for a sheep farming venture must have some of the following items:

• Objectives
  The objectives of setting up the sheep farm must be stated in your business plan. The goals will guide you as the business owner on all fronts as to the actions that are best for the sheep rearing business. This part of the business plan must be done with extreme care because if carefully done, this can determine in a straight line if or if not, the business will succeed. The objectives of your sheep farming venture should be simple and clear enough to understand. If there is more than one objective for setting up the sheep farm, be sure to put all the objectives in the business plans. When the goals of the sheep rearing venture are carefully and diligently set out, it becomes easy to choose a breed of sheep that fits into those objectives. It becomes easy to determine the kind of housing that will hold the sheep. In short, all other factors become easy when the objectives of the sheep rearing venture are rightly set.
• Financial Plan
  A business plan is not complete without a financial plan because a business has to do with the inflow and outflow of money. Setting out the financial plan for your sheep rearing venture involves determining the kinds of sheep breed that fit into your objectives and stating out the price per unit of the sheep, as well as determining the amount that will cover the total number of sheep with which you intend starting. It is also essential to state in your financial plan, the cost of running the farm for at least two to three months because the farm is not likely to produce anything to sustain itself in that length of time. The price of the housing and all other financial implications that come with sheep farming must be stated in the financial plan.
• Sheep Breed
  Depending on the objectives that are set out in your sheep farming business plan, you should state the breeds of sheep that fit into those objectives. For example, if the primary objective of your sheep farm is to make an income with sheep wool, then it would be best to choose a sheep breed that fits that purpose. The common sheep breeds in Nigeria are Bororo, Ara-ara, Balami, Uda, et cetera. After selecting the kind of sheep that you want on your farm, another thing that needs to be stated in your business plan is the age range of the sheep you want to use to start your herd.
• These are not the only ingredients that make up a good plan for a sheep farm. You can do further research on the subject.

• Feeding
  Feeding sheep is not expensive, especially in Nigeria. All you need to feed your sheep is fresh grass and forage, and sometimes hay.
• Housing
  To house sheep, you will need a piece of bare land, and in it, there will be pens where the sheep can hibernate from the perils of harsh weather conditions.
• Treatment
  You will need to employ the services of a veterinary doctor. The doctor will be the one to monitor and carefully manage the health of the sheep. Sheep is especially sensitive to disease caused by microbes; it is, therefore, imperative to have a vet doctor to monitor their health accurately.

Get your Sheep Farming Business Plan in Nigeria and feasibility study. pay N10,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “business plan for sheep rearing in Nigeria” to  07033378184

Sheep Farming Business Plan in Nigeria © www.businessplan.com.ng

The post Sheep Farming Business Plan in Nigeria appeared first on Business Plan.

Also Read: How to Write a Business Plan in Nigeria

There are a lot of businesses that have the potential to do some amazing stuff in this nation, but their lack of funding has denied them this opportunity. The funding challenge is especially pronounced among small businesses (startups mainly). Small businesses are usually the ones that thrive on the strength of an idea or an innovation which if adopted, can greatly influence the world. However, the funding challenge cripples the arms of small and even medium businesses in the Nigerian nation. Many small businesses start their operations off on the strength of personal finances or even donations. However, there comes a time when the business needs to expand its horizons, and the funding is usually a challenge at this stage.

In this article, we will guide you on how to get a reasonable loan for your business in Nigeria.

Getting a Loan in Nigeria

Getting a business loan in Nigeria can be a very tedious task, however, it is possible, but there are few guidelines to getting loans from different institutions. We will highlight the places where you can get a business loan in Nigeria as well as the factors that surround such loans in the lines below.

Banks

Banks are the first names that naturally come to mind when speaking of business loans in Nigeria. Banks are financial houses, and so the fact that they have the loan capacity to credit a small business is not in doubt. The challenge, however, is how to get the loan out of a bank. This challenge is one that must be carefully dealt with before approaching any bank for a loan, because banks get a lot of loan applications and so, your loan application has to stand out of the crowd to increase the chances of a successful loan application grant. There are a few red marks that banks watch out for both with the business and the business owner (or representatives) before either accepting or rejecting such a loan. One must, however, note that banks are finance houses, but they are also business inclined as they have the staff to pay and overhead costs to cover. It is, therefore, the intent of any bank to make a profit in borrowing any organization a loan. If the bank perceives that your organization may not be able to return the loaned amount within the specified timeframe, it lessens your chances of getting the loan approved.

With the inception of the Bank Verification Number (BVN) in Nigeria, all bank accounts are linked, and so it becomes easy to trace your banking record from any bank. And this is one of the things a bank will first of all check before even considering a loan application. The bank will check to see if you or your organization has ever borrowed money from any other bank. If you have borrowed before, the bank would then further go on and investigate if you paid back on the appropriate terms of the loan, if it is found that you owe any bank, it lessens your chances of getting a loan from any other bank.

Another thing a bank looks out for in considering a loan application is the presence of a good business structure. You must understand that a bank saves money for people, and the people will eventually come for their money sooner or later. If a bank now decides to give you a loan, it has to eliminate all the doubts that come with the business. A good business structure will attract a bank, and this is usually seen in the proper accountability of the organization. If you run your company with your personal account, it is less likely you will get a loan from a bank, and a bank will even consider a loan application from an organization with an accountant over one that does have an accountant. When you pass the accountant mark, the bank will cross-check all your account paper and make sure the company is operated as a proper organization and not personal business. Checking this will help the bank ensure you will spend the loan money on what you said in your loan application.

Another factor that helps your chances of getting a loan from a bank is a good understanding of your niche. A bank certainly wants to eliminate all elements of doubt that it is placing money in the care of an amateur, as this can hinder the refunding of the money. Be sure to have a very good knowledge of your industry and the current trends before approaching a bank for a loan.

One thing that discourages many from approaching banks for loans is the fact that a bank has rejected them before. However, you can try as many banks as you can for your loan. This is because some banks focus their trade around a particular industry, and so even if your proposal is the best in the century, they may not approve your loan request, but that may just be the niche that another bank focuses.

Some business owners want to stay away from bank loans because of the high-interest rate that accompanies them; however, if you don’t mind this, a bank is your best bet at getting a good loan for your business.

Government Loans

The government is another prominent name in the Nigerian loan circle. There are several loans from the government that supports businesses in their trade and art. It is important to seek out the government loans that are available in your niche or industry if you want a government loan. Although there are general business loans, the chances of getting such loans are considerably slim when compared to niche-based government loans.

The challenge with government loans is the fact that there is usually a whole lot of competition with this kind of loan because it is usually open to the general public. The fact that this kind of loan is open to the public makes it almost impossible to lay a hand on it in the end. But government loans are of very great advantage when one can get hands on them. Government loans are almost always with zero percent interest, and this is something that is a healthy fit for businesses, the businesses will only have to pay back the borrowed amount within the specified time. When a government loan is not with zero interest, the interest is usually very low, and the time of paying back is such that it is easy to pay back for business owners.

Although the chances of getting a government loan are slimmer when compared to a bank loan because of the massive competition which a business owner has to pass through before his/ her business proposal can come to the limelight, a government loan is preferable for small and medium scale businesses. Government loans are better for small businesses because they are affordable to pay back, and the terms of payment are usually very friendly. It is advisable that even if you have applied for a bank loan, try and apply for several government loans for your business as well, if the government loan comes through, you stand a better chance of business success.

Loan Organizations

This is the third name that comes to mind when thinking of a place for a business loan in Nigeria. Some organizations provide loan service both to organizations and individuals across the Nigerian nation. You only need to approach these organizations with your loan proposal.

With the development of technological innovations, there are more ways to access quick loans in Nigeria now more than ever. There are financial service operators that offer a quick loan service to individuals all around the nation now. The amazing thing about this kind of loan is the fact that it can be accessed in as short as twenty-four hours from the time of application. Loans from this source are usually small and can only do very little as far as businesses are concerned. Then the loans from these financial t5echnological innovations are usually short-termed, and a business may not be ready to pay back within the time frame which these organizations require back their funds.

Conclusion

Business is like a game and knowing the rules to play by certainly gives an advantage in the playing arena. One of the strengthening factors that make up the pillar of a good business is funding. However, many challenging circumstances are confronting Nigerian businesses in this regard. This is why we have put up this article to guide you on how to get a loan for your business in Nigeria. One way of getting a loan fast in Nigeria is not laying all eggs in a single basket.

As a business owner who seeks the expansion of your business brand, seek out many loan opportunities, and apply for them all, the more money to you have for your business, the better for the brand.

How to get a Business Loan in Nigeria © www.businessplan.com.ng

The post How to get a Business Loan in Nigeria appeared first on Business Plan.

Get your Cattle Farming Business Plan in Nigeria and feasibility study. pay N10,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “cattle rearing business plan in Nigeria” to  07033378184

Cattle come in varying kinds; some cattle breeds grow big in a very short while; such breeds are better reared for their meat and the accessories embedded in their body. Some cattle breeds are more suitable for producing milk; therefore depending on the form of cattle farming which the farmer engages in, there are several cattle options he/ she could choose.

Female cattle are usually reared for the milk it produces, as well as their fertility prospects. Female cattle are prevalent in the cattle rearing circle, and a herd of cattle is usually a combination of many females and a few male cattle. Female cattle are typically left to live for as long as possible on the farm before they are slaughtered for their meat because cattle farm owners want the cows to produce as many young cattle as possible before the cows are killed. And because a cow takes about nine months to give birth to another cow, female cattle is considered very precious in the cattle rearing farm.

Asides all these; it is also expedient to understand that female cattle are the source of many dairy products which we consume in our daily lives. This is the reason why female cattle are considered very precious because they produce young cattle, milk, cowhides, leather and ultimately, meat.

Bulls are reared more for their meat. Although bulls are also important to the reproduction process of cattle, they are considered of less economic value compared to cows. Bulls also have their advantages, especially when they rea bred for their meat and their hides. With bulls, cattle farmers can use artificial insemination to ensure the productivity of the bulls. Cattle rearing can be an exciting venture in the fact that cattle barely gets attacked by any illnesses, and they are mostly resistant to diseases. With the proper dossier of care, cattle rearing is usually a very fantastic experience for its farmers. Cattle rearing is not as expensive to maintain as many assume it to be; there are several ways to go about it.

The Prospects of Cattle Rearing in Nigeria

The meat consuming population of Nigeria is quite large, and the number of cattle within the Nigerian shores are not enough to sustain the meat consumption capacity of the Nigerian nation. It, therefore, tells that anyone that cattle rearing holds a lot of prospects for people who engage in them, especially in Nigeria.

The skin of cattle is also used to make a lot of value giving products in Nigeria. The skin of cattle is used to make Ponmo; Ponmo is the local name for the thick skin that is on the back of cows. The Ponmo market is one that thrives well in the Nigerian community, and it is one that will continue to do so for a very long time. Some parts of the Nigerian community use the skin of cattle to make shoes, and other leather wears.

Whatever the case may be, you can be sure that the cattle market is one that is quite profitable in Nigeria. The blood of cattle is sometimes cooked to make food for fishes, and this is also something of high economic value.

Some female cattle breeds produce a lot of milk, and so they are raised primarily of their milking prowesses, and this is another valuable part of the cattle rearing field. The milk production industry in Nigeria majorly sources its raw cattle milk from outside the country. Still, if we can have cattle farms that can level up to the demands of milk production in Nigeria, the prospects are just uncountable for the cattle farmers in Nigeria.

There is a breed of cattle called draught cattle; this breed of cattle is used in Northern Nigeria for labour work on farms and lands. During the dry season when land clearing is ongoing in preparation for the planting season; draught cattle are used to make ridges on drylands that would have taken a whole lot more of human efforts to heap up. Draught cattle are also used to weed farmlands in the process of the germination of many plants and crops. Now, some will say the use of draught cattle is getting outdated, as there are tractors and more mechanized ways of clearing and maintaining farmlands. However, these mechanized farming methods are quite expensive, and there are not so many that can afford it. So, draught cattle are still very relevant in Northern Nigeria, and as a matter of fact, there are no so many machines that can remove weeds among grown plants, and draught cattle can do this.

Challenge of Cattle Rearing in Nigeria

Like any other kind of farming, cattle farming has a few challenging constraints in Nigeria, and we will highlight some of those challenges in the following lines:

• The tsetse fly challenge
  The major challenge of cattle rearing in Nigeria is the fact that Nigeria has a lot of tsetse fly, and tsetse fly can reduce the productivity of cattle farms in that it can result in the death of cattle.
• Grazing
  The grazing challenge is one that is more common in urban areas of Nigeria. With the progressive urban development in the Nigerian nation, the amount of grazing land upon which cattle can feed is consistently reducing.
• Capital Intensive
  Cattle farming is generally capital intensive, and while it has a lot of profitable prospects in the long run. It is not one that yields any meaningful return in the short term, and this has caused a lot of people to look in another direction in the search for profitable investments. This challenge is majorly prominent at the early stage of setting up the cattle farm.

How to Start a Cattle Farm in Nigeria

Starting a cattle farm in Nigeria involves a series of a carefully detailed plan. Unlike many other forms of agricultural farming systems, cattle farming is quite capital intensive and will require a little more attention to detail than other types of farming would.

The following are the steps to starting a cattle farm in Nigeria:

• Develop a Business Plan
  The importance of a business plan cannot be overemphasized in the staring of any business. A business plan is exceptionally resourceful for startups. Now, many may consider some cattle farm a little less than a business, but for what it’s worth, a cattle farm requires capital to start, and the intent of starting it out is to make a profit. A cattle farm would often require the services of a professional such as a Vet doctor which would add up to the overhead cost of running the farm. It is, therefore, to create a well-detailed business plan to guide the operation and synergy of the cattle farm when it starts up. The whole life of the cattle farm can be planned out on paper., because the plan is just a plan, it is essential to explore beyond limits, as these would set the business and the business owner to work on the business project. A business plan for a cattle farm must have some salient ingredients, and we have listed some of the most important ones below (however, there are more than we have listed here, you can do well to research more about the topic):
  • The goals of the cattle farm
    The goals will determine what should be or not be done on the cattle farm. The goal should clearly state out why you as the business owner is starting the cattle farm, the things you hope to achieve with the farm, and of course the impact you hope to make with the farm. The goal will give a clear sense of direction which the cattle farm will follow, and when this direction is there; the chances of success increases.
  • The best Cattle Breed that Fits Your Location and Goals
    Depending on why you are starting the cattle farm, there are many breeds of cattle available in the market, and each breed has a unique set of advantage which give them an edge over others. Draught cattle, for example, are more suitable for labour-intensive tasks, and so they would be more suited to someone who intends rearing cattle to provide land clearing and farm weeding services as an integral part of his/ her farm services. N’dama and Muturu cattle breeds are more suited for meat production. At the same time, Fulani white, Sokoto Gudali, Adamawa Gudali, Guernsey, and Bokoto are cattle breeds more suited for their milking. So they are options you should look at if you intend raising cattle for dairy.
  • A clear Financial Budget
    In the financial plan, indicate the following:
    • The price of each cattle you intend to have on your farm
    • The price of land acquisition
    • The cost of running the farm for at least six months without any income from it
    • Human labour costs
    • The cost of health and veterinary treatments
    • Cost of setting up pens for the cattle
    • Feeding cost (daily, weekly, and monthly) for at least six months
  • Other things need to be in the business plan for a cattle farm. However, you can research more about them before setting up your farm.
• Capital
  A cattle farm is a capital intensive venture and would sometimes require the business owner to go over the edge to get things together financially when starting. In gathering capital for your cattle rearing business in Nigeria, you should put into consideration the fact that buying young cattle will cost less than buying old and matured ones. Both buys have their advantages and demerits. Buying young cattle will save the cost of purchasing the cattle, but will cost more to nurture into maturity before the cattle can start producing young ones. Buying matured cattle will cost more; however, it will cost less to nurture them into productivity. All these must be put into consideration when gathering capital for your cattle rearing business.
  You must also put the location into consideration the location where you want to rear your cattle in the plan to raise capital for your business.
• Cattle Housing
  In Nigeria, cattle are usually housed in an open space; however, cattle farm owners build are pens where the cattle can hide from the scorching of the sun or the rain. The pens give the cattle a common breeding ground to share heat in times of cold. It is generally wise to make the pens of cattle very small compared to the land size of the whole farm. The fence of the lands where cattle are housed is usually a netted one that’s strong enough to stop the cattle from pulling down the fencing structure and allows the easy visibility of the farm from afar.
• Protecting cattle
  It is advisable to have dogs in your cattle farm, as they would bark on sighting prospective danger for your cattle. Ducks are also another set of animals used to protect cattle from imminent danger. Ducks have very sharp eyes and can see snakes from afar off, asides the fact that they can see snakes afar off, ducks can also fight and kill snakes with their strong beaks.

Get your Cattle Farming Business Plan in Nigeria and feasibility study. pay N10,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “feasibility study on cattle farming in Nigeria” to  07033378184

Cattle Farming Business Plan in Nigeria © www.businessplan.com.ng

The post Cattle Farming Business Plan in Nigeria appeared first on Business Plan.

Turkey farming is one that has been on the rise over the past two decades in the Nigerian nation. Turkeys are one of the most profitable forms of poultry farms in present-day Nigeria. Turkey farms are easy to set up and are relatively the simplest forms of poultry farms in Nigeria.

Get your Turkey Farming Business Plan in Nigeria and feasibility study. pay N10,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “business plan for turkey farming in Nigeria pdf” to  07033378184

Setting up a turkey farm in Nigeria has some prerequisites, and we would discuss some of the major ones in this article. However, we must understand the economic importance of Turkey as well as its prospective business opportunities in the Nigerian agricultural industry. This understanding will guide everything we need to know about the turkey farming venture in Nigeria.

Turkeys and Their Economic Importance

A turkey is a bird, and that is one of the most obvious things about it. However, there are wild and domesticated turkeys. Wild turkeys are not common in this part of the world; most of the turkeys in Nigeria are domestic turkeys. Domestic turkeys usually have a white feather and a more extensive breast chamber when compared to their wild counterparts. For short, wild turkeys are smaller than domestic turkeys.

Turkeys are generally reared for their meat in Nigeria; as a matter of fact, Turkey meat is one of the significant agricultural import goods in Nigeria before the recent ban on the importation of consumables and goods in Nigeria. The amount of turkey that was imported into the Nigerian shores was quite voluminous. Still, with the ban on the importation activities, turkey farming is on the rise in the Nigerian shores and it likely that this form of poultry farming would keep on the verge of the progressive gradient over the next couple of decades. All these is because even with the number of turkey farms in Nigeria, we are still a very long way to filling the gap between the demand and supply of turkey in Nigeria. As a turkey farmer in Nigeria, you can be sure that the market is readily available to absorb your products because we still have not leveled up to the demands of the Nigerian turkey market.

Asides the fact that turkeys have very sumptuous meats, turkeys grow into full maturity between four to five months from the day of their hatching as eggs. The fact that turkeys grow so fast tells of the prospects that are held within the turkey farming business venture in the Nigerian borders. Matured turkeys are quite resilient and hardly die; in fact, they can live up to ten years.

Turkey farming is generally one that holds a lot of profitable prospects; the more interesting fact about this form of farming is the fact that it can be set up with very little capital. Unlike other types of farming ventures, turkey farming takes only a small amount of money to start. We will still detail the amount of money it takes to set a turkey farm up later in this article. However, it is essential to understand that turkey farming is generally beneficial both to the farmer and the nation at large.

How to Start Turkey Farming in Nigeria

Starting a turkey farm is not as hectic as it sounds, however, it requires a lot of diligence and discipline on the end of the farmer in order to make a meaningful income out of the venture., there are a lot of key ingredients to the flavour of a profitable business venture. However, we will list some of the most important ones for the turkey farming venture in this article.

• Develop a Business Plan
  The importance of a business plan to any venture cannot be overemphasized. This is because a business plan will guide the entirety of the lifetime of the business. A business that will succeed will be evident in the clarity of its plan, and in the same vein, a business that will struggle and eventually fail will be evident from its plans. It is, therefore, essential to set the business plan for your turkey farming venture in the proper order before every other thing. The business plan will clearly state how the business will run on all grounds if it is to be effective. The following are some of the salient features that should be contained in a good business plan for a turkey farming business in Nigeria:
  • The goal of the farm
    Do you plan to rear the turkey for raising more turkey? Or is your own plan to raise the turkey for meat? Whatever the plan you intend for your turkey farm is, you need to state it in the business plan in clear terms. The clarity of the goal of your turkey farming business venture will help guide the entirety of the business. The clear goals of your turkey farming business venture will give you an idea about every step you need to take to set the business in the proper place. When the goals of your venture are clear enough, it can give anyone the idea of the future of the business. After setting the goals of your turkey farming business venture, be sure to have them reviewed by a third party who would give you an unbiased perspective.
  • Financial Plan
    The financial plan of your turkey farming business venture will state the costs of setting up the farm as well as running it for the first few months of its operation. The mistake many business owners make that you should try and avoid with your own business plan; is that they plan only for the start of the business and not the sustenance for some time. Your financial plan must account for how you plan to set the turkey poultry up, how many turkeys you intend to start with. The cost of setting up a building to the house for them, the cost of feeding the birds for at least three months, as it is not likely the farm will generate income to run itself in that period.
    To help set your financial plan in place, you should know that a mature turkey in Nigeria varies between fifteen thousand naira (NGN 15,000) and twenty-five thousand naira (NGN 25,000).
  • Bird Age Range
    In your business plan, you should also include in the plan the kinds of birds you intend to start the farm with. The types of bird you begin with will have to go hand in hand with the goal of your turkey farming business venture. Staring with young turkey poults will cost more to rear till maturity, however, you will be able to buy more poults as their price will obviously cost comparably little compared to full-grown turkeys.
    Starting your turkey farming with full-grown turkeys will cost more to start, but it will take only a little time to rear them into productivity. Whatever the case may be, you must decide the kinds of birds you want to start your turkey farming venture with.
  • Other things need to be in the business plan for your turkey farming venture. However, you can do additional research about the topic. You could even visit a flourishing turkey farm and see some of the methods you feel they have integrated into their business plan.
• Feeding
  Rearing turkey in Nigeria is relatively easy when the business plan has been set in proper order. Generally, turkeys eat almost all kinds of home food, so it becomes easy to feed the birds with remnants from human food for small scale turkey farmers. However, for those that wish to rear turkey on a larger scale, the birds will require much more than remnant food for their sustenance, you will need to get them bird feeds. For young turkeys, foods with high protein content (30% protein) will generally spur their growth more, while the matured ones grow better with foods with more carbohydrate content.
• Housing
  Turkey houses should be built to have perches at least two feet well over the ground; the height in the perches will allow them space to breed as turkeys most times prefer to sleep in high places. The whole structure of the turkey housing structure should be covered with a lightweight roof to protect the birds from harsh weather conditions. The housing of the birds should allow for proper ventilation of the birds. Ideally, roost that has the size: 5 by 8 foot will house about twenty turkeys conveniently.
• Treatment
  It is best to employ the services of a dedicated veterinary doctor to prevent the mortality rate of your birds. The doctor will administer medications to the birds at specific stages of their growth. And when any of the birds get sick, the veterinary doctor will administer treatment to the birds. It is best to include a veterinary doctor in the plan for your turkey farm because the veterinary doctor will adequately monitor the growth and development of the birds in a hitch free way.

For small scale turkey farmers, it is advisable to start the venture with three females and two males.

Get your Turkey Farming Business Plan in Nigeria and feasibility study. pay N10,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “feasibility study on turkey production” to  07033378184

Turkey Farming Business Plan in Nigeria © www.businessplan.com.ng

The post Turkey Farming Business Plan in Nigeria appeared first on Business Plan.

Construction is one of the things that have built the structures upon which the twenty-first-century world is based. Construction involves the process of attaching items to make a meaningful structure with them. The process of construction could sometimes involve dismantling some structures (or items as the case may apply) and re-ordering from scratch. Construction is both a simple and complicated task. It is simple in the fact that a constructor understands the need to solve a challenge with his/ her innovations. Construction is, however, complicated in that it involves a lot of complexities such as tensile strength, stress, fracture, force, and some other technical terms which add up to the eventual innovation and its ingenuity.

Get your Construction Company Business Plan in Nigeria and feasibility study. pay N50,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “construction company business plan sample doc” to  07033378184

A company is a group of people who gather to achieve a common purpose. There are many companies in the world we live. When properly defined, a family could be a company. As long as there are more than one persons who gather to achieve a common purpose, it can be termed as a company. The definition of a company can be that simple. However, the only addition that makes a company is the fact that a company’s ultimate purpose is profit. Although profit may not be the intent of a company in starting, however, some bills need to be paid, as well as staff that needs to be motivated. It is, therefore, essential to note that a company is a conglomerate of individuals to gather to achieve a common purpose and making a profit.

A construction company then adds up to become a gathering of people to achieve the purpose of setting up innovative structures with which the twenty-first-century world strengths. There are many areas of construction, and in the same way, there are tons of construction companies that base their operation around a specific niche of operation. The ultimate goal of every company (construction or not) is to make a good profit, the profit made by the company will help keep it in business as well as help it pay its staff and reach for the skies. A construction company is one that doubtlessly holds impressive profit margins.

The relevance of a construction company is eternal and evergreen. A construction company is relevant in the prominent building industry. The building industry is so broad it would take years to understand the depth of the opportunities embedded within it. Some construction companies base their operations around residential building construction, while others base their operations around more sophisticated structures. There are construction companies that base their activities on the construction of roads. Road construction is another huge aspect of the construction industry. This field is so vast and profitable that there are so many who are into it in present-day Nigeria, and yet, they all remain in business. This fact tells the fact that they are almost all profitable.

There are construction companies that base their activities around the installation of heavy-duty industrial equipment in the Nigerian shores, and they are all making their profits. The need for construction is both eternal and evergreen, therefore anyone who intends to start a construction company in Nigeria can be sure of the fact that his/ her business is one that is in severe need and will remain relevant over time. Construction companies are so relevant; that even low capital investors make their daily living all around the world we live.

What a Construction Company Does

There are so many aspects of construction, and because of this fact, it is hard to piece together in one single note all that a construction company does. We will, however, try to be as generic as possible with the fact that we will lay in the flowing lines.

The first and most obvious thing a construction company does is set up buildings. This area of the construction industry is called building construction. Building construction is one of the most popular aspects of construction because people build structures every day. The building construction company must set up habitable structures for human use. You most probably have met this genre of construction technician somewhere around you. They are the ones that handle the building of houses, religious houses, office spaces, commercial buildings, and other domestic buildings around us.

There are also road construction companies. These focus their activities on the more streamlined construction niche of making roads. Road construction companies, unlike many assume them to be, do not have to be ones that get contracts from the federal government to add Bitumen to roads or something around that. Some communities handle their road projects, some individuals take the responsibility of making the roads to their living places habitable, some organizations engage the services of road construction companies. So, the road construction company is one that holds a lot of profit for those who delve into it.

Of course, there are other areas of the construction industry, which are also quite profitable; however, the two mentioned above are the most popular ones.

Starting a Construction Company in Nigeria

The first step to starting anything is planning. Planning involves a lot of processes put together; however, the planning stage can define the entire life of a business. For a construction company, planning is a very expedient tool for the success of the business. When looking at construction companies from afar, it can look ambiguous to start. However, planning will demystify the ambiguity of the whole industry and set things in the right place. There are a set of things to out in the planning of a construction company, and these set of things are the ones that make the unique mix for the planning of a successful construction company. Here are a few of them:

• A Business Plan
  A business plan is the overall plan of the entirety of the business. It is to be noted that everything in the planning stage of the construction company is just a plan and not the facts. You may not have you need to execute the project of starting up the company. However, you can plan it all out on paper, and this is the role of a business plan. A good construction company business plan will state some of the following:

• • The goals of the business
    These are the reasons why you are starting the business. The goals would usually be two-sided. On one side is the goal for you as the owner of the business; on the other hand, it is the goal you hope the business will achieve in society.
  • A niche of operation
    This will guide the operation and synergy of the construction company both in the short and the long run.
  • A five-year plan
    This is just a way of stating that you need to plan for the long term life of your business. The long term for your own business could be ten years, and this plan will guide the operation of the business over that time. Although there are times when the plan needs to be reviewed strategically, it is, however, essential to remain focused on the goals of the business.
  • There are other vital ingredients to a good business plan for your construction company; you can research some of them and put them in the plan for your business.
• A Dedicated Team
  Like the first point, this is another ingredient for any successful business and not just a construction company. It is crucial to have a team that will drive the operation of the company. A good team reverberates into a good company, and a bad team reverberates into the same for the company. In the team for a construction company, here are some essential roles that should be a part of the team:
  • Civil Engineers
    Construction is an aspect of engineering, and it relates more to the civil engineer’s role. The civil engineer will serve the purpose of ensuring that all the projects which the company will engage in are done from a technically correct standpoint. Closely related to this role is also an architect as well.
  • Accountant
    An accountant will keep the record of the sales and purchases of the company. Although many overlook the role of the accountant in a new company, it is, however, an essential role for startups even more than already established companies.
  • Lawyer
    It is also expedient to engage the services of a lawyer. The lawyer will guide the company around a safe margin in the legal terms of projects and their executions.
• Construction Company Registration in Nigeria
  When all the plan has been made; to operate without the interference of government agencies, it is vital to get the company registered on all the grounds required by the government that a construction company should. Some companies will not release projects to construction companies unless they can provide evidence of proper registrations. It is, therefore, important to get the company registered and get a company bank account as well.
• Plan Execution
  After all, is said and done, it is crucial to start executing the plan of the business and boom! You’re in business.

Get your Construction Company Business Plan in Nigeria and feasibility study. pay N50,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “general construction business plan doc” to  07033378184

Construction Company Business Plan in Nigeria © www.businessplan.com.ng

The post Construction Company Business Plan in Nigeria appeared first on Business Plan.

Get your Cucumber Farming Business Plan in Nigeria and feasibility study. pay N10,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “sample cucumber business plan” to  07033378184

If Cucumber were to have a native land in Nigeria, Jos (Plateau State) would be the native land of Cucumber in Nigeria as it predominantly farmed there because if the weather and climatic conditions that favour it there. Cucumber farming holds a lot of profitable prospects as it matures in a maximum time of three months from the day of its planting with proper care. The more fantastic thing about cucumber farming is the fact that a single cucumber tree can produce up to 15 cucumbers, meaning it gives a lot more than the worth of its money. Another fantastic thing about Cucumber is the fact that it can grow and develop with little care. It is not a plant that requires a lot of attention from its owner to develop in order to produce fruits. Although a little extra care will tell on the quality of the cucumbers produced, however, for those who do not have the time or the luxury to sit and monitor the activities that surround the farm, Cucumber will also produce.

The Need for Cucumber Farming

There are many ways through which cucumber farming helps the nation and individuals. In order to correctly understand the gaps that cucumber farming fills, we must understand the advantages that cucumbers produce for those who consume them.

For consumers of Cucumber, the following are some of the advantages that stand to be gained:

• Suitable for Weight Loss
  Cucumber, asides the fact that it is a sugar-free fruit, also helps many people to engage in weight loss without actual exercise actively. The fact that this fruit is suitable for weight loss makes it a very good one for obese people, and some so many obese people are trying to get themselves in active shape within the Nigerian shores. Asides obese people, many others who are trying to get their weight in a healthy check use cucumber as a nontoxic weight check measure.
• Cancer Risk Reduction
  Eating Cucumber helps its consumers reduce the risk of being exposed to cancerous cells responsible for the terminal disease called cancer, therefore just eating Cucumber can prevent getting cancer in the body of its consumer. Cucumber has some chemical contents such as Lariciresinol and Pinoresinol, which aids the immune system of the body to fight cancer.
• Bad breath repulsion
  Mouth odour causes bad breath, and this can be a very embarrassing situation, especially when speaking to people in close proximity. Cucumber has some chemical contents that kill the bacteria that cause bad breath in the mouth.

There are many other advantages attached to the consumption of Cucumber; however, it would not be incorrect to state that eating Cucumber is generally beneficial for all. It, therefore, tells on how profitable cucumber farming can get for anyone.

Cucumber farming also helps the Nigerian economy in that it adds value to the GDP of the Nigerian economy, and this is asides the benefits which cucumber consumers stand to gain (although, it is the consumers that dictate the profitability of the fruit in the end). Cucumber is recommended by doctors as a remedy for many kinds of skin infections, and it has even been proven to be one of the fruits that produce fresh skin on the body of its consumers.

Cucumber farming is one that has an evergreen advantage. Cucumber farming in some parts of the world is even done indoors, and since it takes just about three months or less to mature, it can be planted more than once yearly, and that means more [profit for its farmers.

Starting a Cucumber Farm in Nigeria

As earlier stated, the Nigerian ground is one that is quite fertile and suitable for many kinds of plants and fruits. However, starting its farming in Nigeria can be a very daunting thing, especially for those without prior knowledge of farming or its systems. The following are some of the things you need to know about starting a cucumber farm in Nigeria:

• Develop a Business Plan

As vague as this may sound, cucumber farming is a business, and every business needs a plan. Developing a business plan will help you to get a brisk idea of how the farm will run regardless of experience. It is worthy of note that a business plan is the same as it sounds; it is actually a plan for how your cucumber farm will be run. When the plan is excellently done, it can determine the prospective success or failure of the business. It is almost as if we can tie a good business plan to good business, in this case, a good farm. A business plan for your cucumber farming project should include these key elements

• • The goals of starting the farm

Whether your goal is just to make some money, or you want to start something that feeds your community. Whatever the goal for starting the cucumber farm is, it should be stated in the business plan, and the goal will guide every other action in the line of the business. A person who intends to start a cucumber far for the purpose of just feeding his family may not need to get many mechanized tools. Still, someone who intends to make meaningful income with cucumber farming will definitely need to get mechanized farming tools. This is why it is very important to always state the goal of a business in the business plan, as it will guide against wastage and towards necessary risks and actions for the benefit of the business.

• • A financial plan
    This will guide you on how to raise funding for the business.
  • A list of tools and materials needed for the successful operation of the farm
• There are other vital ingredients to a good business plan for a cucumber farming venture, and you can research some of them and put them in the plan for your business.
• Execute Your Business Plan
  The planning stage of any business is the most crucial part of it; when the plan is adequately detailed, the execution becomes easy. These are some of the things you can expect in the execution stage of your cucumber farming project:
  • Land
    You cannot plant Cucumber on the water; it is, therefore, vital to seek out land that suits its flourishing growth. The ideal land for the flourishing growth of Cucumber will be one that has good exposure to sunlight and water. Loamy soil is generally good for cucumber growth.
  • Planting and its Planting Season
    After all land clearing and preparation has been done, the planting of the Cucumber needs to be done. Ideally, two or three seeds will be the perfect fit per hole. Cucumber can be planted at any time of the year as long as you can find a way of providing adequate watering for the land during its growth. After planting, you will need to weed the farm when weeds start growing on the farm. The weeding process involves the careful removal of the weeds that grow amid the cucumber plantation after weeks of its growth. Ideally, weeding should take place about four to six weeks into the plantation of the cucumber seeds. Weeding will allow the Cucumber throve properly without sharing nutrients with other plants on the soil.
  • Harvesting
    Harvesting the Cucumber comes when the cucumber fruits have fully mature, and this takes place about three months from the date of its initial plantation.

Get your Cucumber Farming Business Plan in Nigeria and feasibility study. pay N10,000 to:

Bank Name: Guaranty Trust Bank (GTB)

Account Name:  Chibuzor Tochi Onyemenam

Account Number: 0044056891

After payment, send your name, email address and “feasibility report on cucumber production” to  07033378184

Cucumber Farming Business Plan in Nigeria © www.businessplan.com.ng

The post Cucumber Farming Business Plan in Nigeria appeared first on Business Plan.