FEASIBILITY REPORT ON CANDLE PRODUCTION

TABLE OF CONTENTS

       Pages

1.1      Introduction                                                                                                           1

2.0      Marketing Prospect of Candle                                                                         1

3.0      Sales Production                                                                                                   3

4.0      Management Team                                                                                              3

5.0      Organisational Chart of Olowojesiku Enterprises                                     4

6.0      Staff Salary                                                                                                              4

7.0      Basic Materials Needed with Cost                                                                 5

8.0      Machinery and equipment with cost                                                             6

9.0      Production process                                                                                              6

10.0   Constraints associated with Business                                                                       7

11.0   Sources of Fund                                                                                                     8

12.0   Twelve Month Projected Cash Flow of Olowojesiku Enterprises        9

1.1      INTRODUCTION

The proposed name of the business is OLOWOJESIKU ENTERPRISES. This company is basically a medium scale venture to be operated on a sole proprietorship basis. The business will engage in the production of candle for commercial purpose. As a result of high demand for candle the company will for now concentrate on production of white colour, then later red, black and other colours.

The proposed venture is essentially a one-man business in terms of ownership structure  but with    time    the business will expand its structure simultaneously with new investors. There is a high tendency of its profitability because of targeted consumers, which is the church, especially the white garment churches.

The production/manufacturing of candle has been in various colours depending on the usage purposes. Predominantly, the, colours often produced are white, red, blue and black. This is the coloration, which the candle taken to 'reflect the purpose demanded by users/consumers.

The business will cater for all demand of our respective customers, but- churches are the main targets of our proposed products because of, increasing number of churches, that" is 'white garment churches' in particular.

2.0      MARKET PROSPECT OF CANDLE

The table below shows the present estimated demands and supply for candle in the market in percentage (%).

From the above research carried out, the estimated size of market uncovered is 37.5%, while only 72.5% of it is actually covered.

However, the available 37.5% let uncovered, with good production and marketing strategies the proposed business alone will control 'more than the estimated figure.

With availability of local raw materials and, other incentives, capital allowance and other tax concession on a value-added basis and coupled with investor-friendly culture, there will be high demand, hence, the tendency for potential annual market growth.

The following are some of those factors -that can affect market growth:

1          Smuggling and inconsistent policies pose a major problem to local manufacturers who often cannot 'compete on the basis of price.

2          Infrastructure deficiencies like good motorable road, communication network and other major constraints that can affect the market growth.

3.        Capacity underutilization made era worse by lack Of patronage from govern and its agencies, which import some of these goods.

4.        Poor power supply

5.        Lack of machinery

Based on the surveys and experiment conducted recently, we have been able to rectify the weakness of our major competitors in the market. We have discovered that product burn very fast. However, we intend adding some chemical like stearic acid and sulphuric acid in our product so as to make it strong and burn slowly. Also, with low variable cost per unit and labour cost, we will use the low cost of production to set our price to offset them from their major consumers.

The consumers or customers of our product will be given some incentives and opportunity to explain their reaction whenever they notice arty problem with our product since it is our desire to satisfy their needs at a profit.

Since what the firm is willing or able to do in the market place is influenced by what it will do, there will be a close monitoring of the market shares on a monthly or quarterly basis because our success in the market requires a "fit" between the company and the market. In so doing, we intend to anticipate new actions that the competitors will take either in response to our actions or of their own initiative. Moreover, with the continued study of the market trend of demand and supply we will be able to assess our target market segment.

In data collection, a good marketer will be interested in different ways of collecting information. Apparently, our source of collection of information and data is through survey, observation, interview, published statistics and market audit.

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