FEASIBILITY REPORT ON GARRI, LAFUN AND FUFU PROCESSING INDUSTRY

ABSTRACT

*        Scope of the study

*        Section

*        Introduction

SECTION 1

1.1     Introduction of the Business

1.2     The Alms and Objectives of the Business

1.3     Description of the Proposed Business

1.4     Location of the Business

1.5     Description of the Product

1.6     Competitor

1.7     Pricing Strategy

SECTION 2

2.1     Supply & Demand

2.2     Price

23      Target of the products

SECTION 3

3.1     Raw material and sources of supply

3.2     Production process

3.3     Equipment used

3.4     Production capacity

3.5     Production schedule for 5 years

3.6     Production forecast schedule per year

SECTION 4

4.1     Financial Analysis

4.2     Investment cost

4.3     Projected Balance Sheet for‑ years

4.4     Projected profit & loss Account for 5 years

SECTION 5

Recommendation and Conclusion

SCOPE OF THE STUDY

Going by the course outline on the small management, we have been instructed to investigate and make a write up on feasibility report or business proposal of a small scale business of my own choice in Nigeria by MRS. ADEOYE R.F., a Lecturer at the Dept of Business & Administration Yaba College of Technology, Yaba, Lagos.

The feasibility is on a proposal of Fufu, Gari and Lafun  processing industry, the processing of cassava into the above following items.

The location of the proposed business or Local industry is at Ikot-Ekpene market, Akwa-Ibom.

My assessment on this report having given the location includes: Examining the market prospect for the product in the country.

Recommending an economic scale of production for the proposed products.

Appraising the social and economic effect of the project in the Nigerian economy in terms of employment opportunities as well as taxes and duties to be paid.

Assessing as well as exported revenue from the project.

Preparing cash flow forecasts projected profit and loss statement and balance sheet and other financial statement that will enable appropriate criteria to be formulated for judging the economic worth wholeness of the project. Finally, making necessary recommendation bordering on successful execution and operation of the processing company.

SECTION 1

INTRODUCTION

Small scale business as it is called is the type of business set up whose fixed asset other than land, including cost of investment project and all other do not exceed 200,000.00

According to government, small business/small scale industry development programme, that any manufacturing processing or service industry with a capital investment not exceeding N200,000:00 in machinery and equipment alone.

In Nigeria here, according to the third national development plan (volume 1 page 355). Any main factoring establishment employing less than 50 people or whose investment in machinery and equipment do not exceed N600‑00 are referred to as small scale industries.

In the credit guideline of (CBN) small scale enterprise classified as those business with annual turnover of less than half a million naira.

1. 1    The proposed is delivered by MR. UDOH GLORY ITORO, HND II

Business Administration with Matric No. F/HD/06/3620017. The business proposed is the conversion of cassava tuber into Fufu, Gari and Lafun  as the finished products.

This finished product will be given out in bags, bowls bucket and tins.

1.2     THE AIMS AND OBJECTIVES OF THE BUSINESS

1.       To create employment opportunities for the masses.

2.       To be a price owner

3.       To create the national level of output

4.       To supply the need of consumer

5.       To make profit

6.       To make the country to be less dependent

7.       To solve the problem of limitation to large business organization.

1.3     DESCRIPTION OF THE PROPOSED BUSINESS

The name of the business is GLODOH CASSAVA INDUSTRY.

The business is going to be a sole business proprietorship, which is a business, owned by one man. That is, one man's business and it is proposed to start by the end of the year December 2008

1.4     LOCATION AND SITE OF THE BUSINESS.

The proposed cassava processing industry is to be located at Eke market

Asua-Eyo Market in Akwa-Ibom. The company is one of the major small‑scale food industries at Asua-Eyo State.

The basic infrastructural facilities are water, Electricity, good road and communication media are available and this should facilitate the movement of equipment and raw material into the processing company and movement of finished goods or products out of the company to final consumer.

1.5     DESCRIPTION OF THE PRODUCT.

Fufu, Gari and Lafun  are some of the most popular stable foods in Nigeria. They are made from cassava tubers. Nigeria is presently one of the largest producer of cassava. Hence regular supply of raw materials for production of the products i.e Fufu, Gari and Lafun  can be ascertained.

Since Fufu, Gari and Lafun  and it allied product are eaten by nearly all the ethnic group in the country, the consumption of the productions is ensured.

The targeted market are women, young one's hospital, schools, food seller, old one's the target will be the Fufu, Gari and Lafun  and its allied products like starch.

1.6    COMPETITORS

The competitor are Akpan Gari industry situated about 4 miles from my site and Ekpo Gari processing industry situated a bit after my own site. The two industries are producing gari alone. This makes my own industry to be different from other competitors.

PRICING STRATEGY:

The pricing strategy to be adopted will be COST ‑ ORIENTED PRICING.

STRATEGY

The pricing strategy is adopted because it is largely based on costs of products together with overhead cost.

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