Prepared by Kaduna Business School

1|Page
Prepared by Kaduna Business School

2|Page
 [Business Name] Business Plan [YEAR]

Contents
Business Plan template ............................................... Error! Bookmark not defined.

Using this template ..................................................... Error! Bookmark not defined.

Business Plan Summary ..................................................................................... 5

The Business ................................................................................................. 4
The Market ................................................................................................... 5
The Future .................................................................................................... 5
The Finances ................................................................................................. 5

The Business ...................................................................................................... 6

Business details ............................................................................................. 6
Registration details ........................................................................................ 6
Business premises ......................................................................................... 6
Organisation chart ......................................................................................... 7
Management & ownership ............................................................................... 6
Key personnel ............................................................................................... 8
Products/services .............................................. Error! Bookmark not defined.
Innovation .................................................................................................... 8
Insurance ..................................................................................................... 9
Legal considerations........................................... Error! Bookmark not defined.
Operations ...................................................................................................10

The Market ....................................................................................................... 12

Market research ...........................................................................................12
Market targets..............................................................................................12
Your customers ............................................................................................12
S.W.O.T. analysis .........................................................................................13
Your competitors ..........................................................................................14
Advertising & sales .......................................................................................15

The Future ........................................................................................................ 16

Vision statement ..........................................................................................16
Mission statement .........................................................................................16
Goals/objectives ...........................................................................................16
Action plan ..................................................................................................16

Prepared by Growbridge Advisors Ltd

Page 3
 [Business Name] Business Plan [YEAR]

The Finances .................................................................................................... 17

Key objectives & financial review ....................................................................17
Assumptions ................................................................................................17

Supporting documentation ............................................................................... 17

Example Cashflow/Profit Forecast .............................................................. 18

Example Profit and Loss ................................................................................... 19

EXECUTIVE SUMMARY

E-sheyin has identified three keys that will be instrumental in the success of his business. The first is the implementation of strict financial controls.
By having the proper controls, production efficiency will be maximized. The second key will be the adoption of new or improved methods of
farming and proper adherence to farm management practices. The third key is the recognition and implementation of the philosophy that 100%
customer satisfaction is required to ensure a profitable business. Profits are a by-product of satisfying customers, not the other way around.

The Business
Business Description:

The business will produce and supply rhizome turmeric throughout to local users, middlemen, supplement companies and the international buyers
in need of the product. Sheyin E.A is saddled with the responsibility in coordinating and supervising the whole production, supply and marketing
chain. Thousands of hotels across the country, coupled with the numerous fast food and restaurants, are in need of these spices(turmeric) every
day, which has made local production and marketing of spices(turmeric) a good and successful business in Nigeria. At the international market,
locally produced spices are a foreign exchange earner as they are in great demand by Indians, Chinese, Japanese, Spanish, Germans and Greek,
even in United Kingdom and America.

Business structure: Sole trader

Business location: [Farm land is in Gan Gora, Zango kataf LGA ]

Date established: [13/11/2016.]

Prepared by Growbridge Advisors Ltd

Page 4
 [Business Name] Business Plan [YEAR]

Business owner(s): Sheyin Emmanuel Ali.

The Market
Target market:

Thousands of hotels across the country, coupled with the numerous fast food and restaurants, are in need of these species every day, which has
made local production and marketing of spices a good and successful business in Nigeria. At the international market, locally produced spices are
a foreign exchange earner as they are in great demand by Indians, Chinese, Japanese, Spanish, Germans and Greek, even in United Kingdom and
America

The Future
Vision statement:

Become a leading producer and supplier of turmeric for the health/ industry
Goals/objectives:

1. Become a leading producer and supplier of turmeric for the health/ industry.
2. Reach the point of sustainable profitability.
3. ensure consumer demands are met.

The Finances
[Briefly outline how much profit you intend on making in a particular timeframe. How much money will you need up-front? Where will you
obtain these funds? What portion will you be seeking from other sources? How much of your own money are you contributing towards the
business?]

Prepared by Growbridge Advisors Ltd

Page 5
 [Business Name] Business Plan [YEAR]

The Business
Business details
Products/services:

The crop ‘turmeric’

Turmeric is botanically called Curcuma Longa. Turmeric is a tropical perennial plant, native to India and Indonesia and is cultivated throughout the
tropics around the world. It is also known as the ‘golden spice of life” and is one of the most essential spices used as an important ingredient in
culinary all over the world.

Turmeric belongs to the same family as ginger. Globally, the world production level for turmeric is between 11-16 tonnes annually and out of these
production figures, India accounts for over 78% of the annual production for turmeric. India is followed by China and Myanmar in Asia. Nigeria is
the fourth largest producer of turmeric with about 3% of the global annual production.

Registration details
Business name: [E-sheyin Farm]

Business structure: [Sole trader]

Business premises
Business location:

A minimum of five hectares have been designated this farming season. The farm land is located in Gan Gora, Zango Kataf LGA.

Management & ownership

Names of owners: Mr. Sheyin Emmanuel Ali

Management & Ownership:

E-sheyin farm will be led by Mr. Sheyin Emmanuel Ali and a team of labourers. Sheyin Emmanuel Ali brings a wealth of business and project
management skills to the venture. A passionate young farmer and a lecturer at school of agricultural Technology, Samaru kataf campus Nuhu
Prepared by Growbridge Advisors Ltd

Page 6
 [Business Name] Business Plan [YEAR]

bamalli Polytechnic, are all advantages on the business. Utilizing these skills, Sheyin will be responsible for the business operations of the farm.
Sure, with an M.Sc. in agricultural economics will be the driving force of the operation, Additionally, because of her wealth of knowledge, i will
be the leader of the sales.

Experience: Sheyin Emmanuel Ali was born a farmer and he has been farming from childhood i.e over 15 years. My passion and experience with
further studies up to a master degree acquaint me with modern farming practices. I have been farming ginger and other crops and in the last farming
season (2017) I farmed over a hectare of ginger.

Key personnel
Current staff
Job Title Name Expected staff turnover Skills or strengths

Farm Manager Sheyin [eg: at most 24 months] A passionate and experienced farmer for over 15 years,
Emmanuel Ali an M.Sc. Agricultural economist and a lecturer in tertiary
institution of agriculture.

Required staff
Job Title Quantity Expected staff Skills necessary Date required
turnover

Labourers [20] [2-3 years] Farmers [03/2018]

Recruitment options

Experienced farmers for hire are readily available in the villages as much as there will be good incentives

Training programs

As the farm manager, I will always be on the farm to direct my employees on new methods of farming.

Market position:

Thousands of hotels across the country, coupled with the numerous fast food and restaurants, are in need of these species every day, which has
made local production and marketing of spices a good and successful business in Nigeria. At the international market, locally produced spices are
Prepared by Growbridge Advisors Ltd

Page 7
 [Business Name] Business Plan [YEAR]

a foreign exchange earner as they are in great demand by Indians, Chinese, Japanese, Spanish, Germans and Greek, even in United Kingdom and
America.

Growth potential:

That there is huge possibility for growth and for local spices to generate foreign exchange because these spices are ingredients for preparing food
around the world.

Innovation & Product/Service Development

Research & development (R&D)/innovation activities

To add value to locally produced spices, processing is very important, this can be achieved using locally fabricated equipment for domestic and
export markets.

Operations
Production process

While preparing the land, the usual tillage operation may be adopted. Farmyard manure (FYM), neem cake, basal fertilizers, and
micronutrients are applied to the soil as recommended. Beds should be prepared – 15 cm in height and 120 cm in width, and a convenient
length – with at least 30cm spacing between the beds. In the case of irrigated crops, ridges and furrows are prepared, and the seedlings
are planted on the top of the bed. Spacing generally adopted is 40 cm between rows and 30 cm between plants, compared with 30 cm by
30 cm with standard methods. With this new methodology, I use sections of seed rhizomes weighing 20 to 35 grams each. For an acre, 180
kg of seed rhizomes are needed (usually there are 30 to 50 rhizomes per kg, with single rhizomes having a length of 7 to 9 cm, and a
perimeter of 7 to 8 cm ). Single rhizomes are cut into 3 to 4 pieces, each having 2 rings with a bulged portion. In a single rhizome, 8 to 10
rings are seen. We need about 22,000 pieces per acre (55,000 per ha). Fungicide (any type) - 2 gms / one liter of water Insecticide (any
type) - 2 mls / one liter of water Urea - 5 gms / one liter of water The fungicide used is organic, so no inorganic fungicides are used.

The Market
Market research

E-sheyin has three distinct customers: local customers (Hotels, restaurants, eateries, household consumptions) middlemen, supplement companies,
and the international buyers. The middle men purchase the turmeric rhizome which they ultimately sell to the end consumer. The market for natural
Prepared by Growbridge Advisors Ltd

Page 8
 [Business Name] Business Plan [YEAR]

supplements is quite exciting. Reconnaissance Surveys show that over majority consumers of the world population including Nigeria use dietary
supplements. An estimated 11.2 million consumers buy vitamins and minerals for themselves, and 55.8 million purchase them for other members
of their family, including children. Consumer surveys consistently find that nearly half of all Nigerians now use herbs - a statistic that is particularly
remarkable when we realize that today's herbal products industry is just over a quarter century old.

Environmental/industry analysis
Exporting Nigeria’s local spices turmeric inclusive to other countries of the world could build the nation’s economy by generating huge foreign
exchange and turn the lives of farmers around within a short period. Nigeria is blessed with a wide variety of spices used to boost the taste of foods,
and to enhance the flavour and aroma of processed foods and beverages. Apart from acting as seasoning, spices are also known for their medicinal
value and are useful in the cosmetic and pharmaceutical industries. Nigeria has the potential to generate over N15 billion annually from these local
spices if properly harnessed because the country is blessed with a large variety of them with very high grade. For instance, ginger serves as a herb
and spice and is popularly used in its fresh state, powdered and dried forms, even as juice or oil. Though the price of ginger has slightly gone down
but Potential investors stand to make millions of dollars within few months in spices business if they do it right.

Market targets

According to statistics by the Nigerian Chamber of Commerce and Industry, NACCIMA the non-oil product export sector is rapidly on the rise.
The demand for local spices like ginger, onions, garlic, chilli pepper and turmeric, among others, is huge both locally and internationally.

Key customers:

Thousands of hotels across the country, coupled with the numerous fast food and restaurants, are in need of these species every day, which has
made local production and marketing of spices a good and successful business in Nigeria. At the international market, locally produced spices are

Prepared by Growbridge Advisors Ltd

Page 9
 [Business Name] Business Plan [YEAR]

a foreign exchange earner as they are in great demand by Indians, Chinese, Japanese, Spanish, Germans and Greek, even in United Kingdom and
America.

S.W.O.T. analysis

Strengths
a) Farmers are not aware of the profitability, potentials and uses of
turmeric reason they only engage in backyard farming.
b) Turmeric has wide applications in the hospitals for medical
treatment of certain diseases hence the increasing demand
Weaknesses
a) Turmeric production is left in the hands of a few farmers in Nigeria,
most of who use crude implements in their farm operations.
b) b) Added to the above reasons is the inherently low soil fertility
status of the soils in Nigeria, which accounts for more than 40 % of the
yield reduction in turmeric.

Opportunities Threats
a) Lack of awareness on the potentials and uses of turmeric is among a) a major threat responsible for low turmeric production in Nigeria is
reasons why most people do not go into its production. lack of credit facilities for smallholder farmers-a situation that makes
it difficult for them to procure fertilisers and other agro-chemical
b) Turmeric has a bigger market therefore, it has huge potentials for inputs for sustainable turmeric enter
local industries and export. According to statistics by the Nigerian b) in Nigeria, the country still spends millions of naira annually to
Chamber of Commerce and Industry, NACCIMA the non-oil product import spices, which can be grown and virtually processed for
export sector is rapidly on the rise. The demand for local spices like export and local consumption
ginger, onions, garlic, chilli pepper and turmeric, among others, is
huge both locally and internationally.

Unique selling position

These spices, for instance, stand out because of their hot nature. With the grade of spices from Nigeria, it is outstanding if you compare it to
spices from other places. Our grade of spices are pungent, aromatic and they are outstanding, and that would also be a huge basket of wealth
waiting to be harnessed
Prepared by Growbridge Advisors Ltd

Page 10
 [Business Name] Business Plan [YEAR]

The Finances
Key objectives & financial review
Financial objectives

[List your key financial objectives. These can be in the form of sales or profit targets. You could also list your main financial
management goals such as cost reduction targets.]

Finance required

[How much money up-front do you need? Where will you obtain the funds? What portion will you be seeking from loans, investors,
business partners, friends or relatives, venture capital or government funding? Stake in the Game - How much of your own money
are you contributing towards the business? What are the time period for repayments? Does the business need a finance holiday?
Lead time before cash neutral for this transaction? ]

Assumptions
[The financial tables on the subsequent pages are based on the assumptions listed below:

 List your financial assumptions. These should include seasonal adjustments, drought, shut down periods, margin changes, affects of
competition and/or interest rates etc.

 This should include Stock, finances required to achieve the figures and margins that are supportable by current performance and or
evidence that can be achieved.

 Complete a Profit and Loss and Cashflow Forecast like the enclosed which can be downloaded from the BIG PLATFORM - This should
be completed for the current financial period and at least the next 12 months.]

Supporting documentation
Attached is my supporting documentation in relation to this business plan. The attached documents include:
Prepared by Growbridge Advisors Ltd

Page 11
 [Business Name] Business Plan [YEAR]

 [List all of your attachments here. These may include resumes, inventory list, survey/questionnaire and/or financial documents.].

Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 End of Yr. 12Mths Actual - Profit & Loss
YOUR CO NAME
INCOME Actual/Fore Actual/Fore Actual/Fore Actual/Fore Actual/Fore Actual/Fore Actual/Fore Actual/Fore Actual/Fore Actual/Fore Actual/Fore Actual/Fore
Invoiced sales on cash terms (net of tax) 0 0 0 0 0 0 0 0 0 0 0 0 - -
Cash received for Invoices on business credit terms (net of tax) 0 0 0 0 0 0 0 0 0 0 0 0 - -
Cash received for Invoices on credit card terms (net of tax) 0 0 0 0 0 0 0 0 0 0 0 0 - -
TRADING CASH RECEIPTS 0 0 0 0 0 0 0 0 0 0 0 0 - - TURNOVER*
Loan Capital 0 0 0 0 0 0 0 0 0 0 0 0 -
Personal Funds 0 0 0 0 0 0 0 0 0 0 0 0 -
TOTAL CASH RECEIPTS A 0 0 0 0 0 0 0 0 0 0 0 0 -

DIRECT COSTS / PAYMENTS - NET OF TAXES INSERT FIGURES FROM YOUR BUSINESS OR PROPOSED BUSINESS DIRECT COSTS / PAYMENTS - NET OF TAXES
Stock and raw materials (including delivery charge) 0 0 0 0 0 0 0 0 0 0 0 0 - - Stock and raw materials (including delivery charge)
Storage costs 0 0 0 0 0 0 0 0 0 0 0 0 - - Storage costs
Production / planting / manufacturing costs 0 0 0 0 0 0 0 0 0 0 0 0 - - Production / planting / manufacturing costs
Assembly 0 0 0 0 0 0 0 0 0 0 0 0 - - Assembly
Distribution / delivery / transport / packaging costs 0 0 0 0 0 0 0 0 0 0 0 0 - - Distribution / delivery / transport / packaging costs
Sales & marketing costs including advertising 0 0 0 0 0 0 0 0 0 0 0 0 - - Sales & marketing costs including advertising
Net Staff Wages 0 0 0 0 0 0 0 0 0 0 0 0 - - Net Staff Wages
Payroll expenses (inc taxes for staff i.e.: Government Taxes) 0 0 0 0 0 0 0 0 0 0 0 0 - - Payroll expenses (inc taxes for staff i.e.: Government Taxes)
-
INDIRECT COSTS / PAYMENTS - NET OF TAXES INSERT FIGURES FROM YOUR BUSINESS OR PROPOSED BUSINESS INDIRECT COSTS / PAYMENTS - NET OF TAXES
Repairs & maintenance 0 0 0 0 0 0 0 0 0 0 0 0 - - Repairs & maintenance
Accounting and legal 0 0 0 0 0 0 0 0 0 0 0 0 - - Accounting and legal
Rent, rates and utilities 0 0 0 0 0 0 0 0 0 0 0 0 - - Rent, rates and utilities
Telephone & IT communication 0 0 0 0 0 0 0 0 0 0 0 0 - - Telephone & IT communication
Owners wages 0 0 0 0 0 0 0 0 0 0 0 0 - - Owners wages
Other costs 0 0 0 0 0 0 0 0 0 0 0 0 - - Other costs
Accreditation cost 0 0 0 0 0 0 0 0 0 0 0 0 - - Accreditation cost
Insurance 0 0 0 0 0 0 0 0 0 0 0 0 - - Insurance
INSERT FIGURES FROM YOUR BUSINESS OR PROPOSED BUSINESS -
CAPITAL COSTS - NET OF TAXES CAPITAL COSTS - NET OF TAXES
Machinery 0 0 0 0 0 0 0 0 0 0 0 0 - Machinery
Office equipment 0 0 0 0 0 0 0 0 0 0 0 0 - Office equipment
Other Capital expenditure including land and buildings 0 0 0 0 0 0 0 0 0 0 0 0 - Other Capital expenditure including land and buildings
Vehicle purchase 0 0 0 0 0 0 0 0 0 0 0 0 - Vehicle purchase
OTHER COSTS - NET OF TAXES INSERT FIGURES FROM YOUR BUSINESS OR PROPOSED BUSINESS OTHER COSTS - NET OF TAXES
Loan principal repayment 0 0 0 0 0 0 0 0 0 0 0 0 - Loan principal repayment
Capital purchases [specify] 0 0 0 0 0 0 0 0 0 0 0 0 - Capital purchases [specify]
Agreement / lease cost / loan interest / bank charges 0 0 0 0 0 0 0 0 0 0 0 0 - Agreement / lease cost / loan interest / bank charges
Other 0 0 0 0 0 0 0 0 0 0 0 0 -
CASH FLOW (Assuming Taxes Paid) NET CASH - TOTAL COSTS before adjustments
TOTAL CASH PAID OUT B
- - - - - - - - - - - - - - Stock adjustment**
CASH ON HAND [Beginning of month] C - - - - - - - - - - - - - Prepay / Accruals***
CASH POSITION [End of month] A-B+C - - - - - - - - - - - - - Depreciation of Capital item over ten years
- TOTAL COSTS after adjustments and depreciation
TOTAL COSTS Profit & Loss items (before adjustments) 0 0 0 0 0 0 0 0 0 0 0 0 0 - RETAINED PROFIT PRE TAX

Instructions:
Enter your figures in the white squares but leave the coloured ones alone - they contain formulas
Remember these are the months you actually receive or pay the money - when the money goes into and out of your account but are NET of tax.
(brackets) represent minus numbers
Add and remove descriptions as appropriate for you business INSERT FIGURES FROM YOUR BUSINESS OR PROPOSED BUSINESS
Adjustments for Stock expense** Opening stock 0 - Closing stock

INSERT FIGURES FROM YOUR BUSINESS OR PROPOSED BUSINESS

Accruals (expenses
Adjustments to indirect/variable expenses*** 0 -
incurred but not yet paid)

Money still owed Invoiced amount relating to goods or services not yet
Adjustment for calculating actual turnover * 0
performed including deposits paid

Prepared by Growbridge Advisors Ltd

Page 12
 [Business Name] Business Plan [YEAR]

YOUR CO NAME 12M

Base Financials (FORECAST FIRST YEAR IF NEW START)
Sales / Turnover - Net of Taxes 0

Opening stock -
Direct/Variable costs -
-
Cost of Sales 0
Gross Profit 0

Direct/variable costs - Net of Taxes

Stock and raw materials (including delivery charge) 0

Storage costs 0
Production / planting / manufacturing costs 0
Assembly 0
Distribution / delivery / transport / packaging costs 0
Sales & marketing costs including advertising 0
Net Staff Wages 0
Payroll expenses (inc taxes for staff i.e.: Government Taxes) 0
Direct / variable costs 0
Indirect costs - Net of Taxes
Repairs & maintenance 0
Accounting and legal 0
Rent, rates and utilities 0
Telephone & IT communication 0
Owners wages 0
Other costs 0
Accreditation cost 0
Insurance 0

Adjustments
Accruals minus prepayments 0
Indirect / Fixed Costs 0

Profit before interest ,corporate tax and depreciation 0

Agreement / lease cost / loan interest / bank charges 0
Depreciation 0
Retained profit pre Company tax 0

Prepared by Growbridge Advisors Ltd

Page 13