PM Venture's Executive Summary

PM VENTURES will be for the purpose of agricultural and agro-allied businesses. My idea is a poultry project, eggs production and will entail production and marketing of eggs that have been graded according to weight, packaged and sold in large quantities to supermarkets, hotels, restaurants and household consumers. We will provide in Warri and its environs’ consumer market clean, quality, graded and well-packaged eggs at affordable price.

Vision Statement:

To build a world-class agri-business conglomerate that will harness natural resources to impact lives.

Mission Statement:

To provide clean, quality, affordable and well-packaged eggs

My mission is to provide customers with clean, healthy, quality, fresh, affordable and valuable products. I seek to create a portfolio of income producing agro-businesses over the next 10 – 15 years that will produce positive cash flow for my organization and potential investors. My primary objective is to maintain the highest level of customer satisfaction that is achievable. 

I will maintain competitive market prices, while working toward expanding the number of units of crates of eggs produced, and increasing total profits earned. Just as customer satisfaction will be an intricate part of my success, so also will be employee satisfaction. PM VENTURES intends to have the largest poultry farm products.  I plan to increase and expand my production of chicken to challenge the ever growing demand for chicken products. The nutritious and protein rich products from my farm would always be the first choice for my consumers.

The proprietor has noticed the health implication of red meat and he is creating a business to meet the increased demand for eggs. He has also discovered that almost all poultry farmers offer standard package sizes of egg crates for all customers. We will offer different product sizes in crates to satisfy our customers’ needs. Not only we are interested in meeting the demands of customers, we also plan to create utmost satisfaction for these customers through provision of quality products and maintenance of efficient product supply. This exciting project is a brainchild of Mr. Donatus Ogbuta. Its setup will promote creation of jobs, economic development and poverty alleviation.

The project will essentially purchase ‘Point of Lay’ pullets of age between 17 – 18 weeks and raise them through their production cycle. The project owner has identified a suitable location for the project with leasing pen units.

The identified key market segments for this project includes the retail segment which comprises household consumers, retail shops, kiosks, supermarkets etc. These are individuals and homes that use eggs in large quantities and also businesses that need eggs for resale to the general public. Another segment is the hospitality segment: they include catering companies, fast-food outlets, hotels, and restaurants. They order large quantities and may require delivery.

Records from Nigeria Population census 2006 shows that Warri and its environs has about 1,461,174 with annual growth rate of 3.22% and its 2017 projected population is 2,070,639. Its market size for egg is estimated at N2.1b and the market is a growing one. The major forces driving the growth include increase in per capita incomes, population growth, urbanization, rising fast food consumption, relative stability in Niger Delta etc.

The selection of a viable market is imperative to the success of PM VENTURES. Key factors were considered prior to selection. They include profitability, growth, growth potential, size of market, risk associated with the market and the capacity of the business to serve the market. We are targeting the whole market because nearly everybody eats eggs and the hospitality sector uses eggs in large quantities.

Competition is not so fierce in poultry business, however it still exists. The reason is that poultry products are standard products and the market is not a crowded one. However, in the area I will operate there exist competitors such as Okiakpo Farms, Leo Vant Farms and Ordia Farms. Some of these competitors are early movers, some of them have citywide focus, substantial market share and connection and influences within the community. What will make us different are our robust customer relations. We will focus on having a thorough understanding of the needs and preferences of our customers. Also, we will employ low, efficient, effective marketing and advertising strategies that will drive sales and profit for the project. We will also leverage on the innovative and creative skills of the management head (the proprietor).

PM VENTURES will use competition based pricing but little below the average market but the price should cover production cost with comfortable return on investment. We will rely on the word of mouth advertising, post adverts on websites, billboards, handbills and on social media like facebook, twitter etc. The products will get to customers through both direct and indirect distribution channels.

PM VENTURES will be led by the Proprietor, Mr. Donatus Ogbuta. He holds bachelor’s degree in Mechanical Engineering from Ambrose Alli University, Ekpoma. He is also a member of Nigerian Institute of Management. He has over 7 years of experience in the Oil and Gas sector, 3 years as a Farm Manager at Ordia Poultry Farm in Effurun, Delta state. In his years of service, he acquired skills in Team leadership, Administration operations, Operations improvement, Business management, Performance management and Appraisal. Main decision and responsibilities lies with the proprietor and he will focus on maintaining high quality and cohesive business entity. As we grow, division managers will be engaged and will be given specific responsibilities.

We will generate revenue based on the amount received from sale of crates of eggs, chicken meat (spent layers). We propose 6%-12% return on investment to my business. We expect to generate N4,672,350 in the first year with estimated 10% annual revenue increase for the next 5 years. It will require N4,542,300 in total in order to finance its capital asset requirements N379,000 as well as its working capital (N4,163,300 includes funds for feed). The main requisition shall include: Pullets (Point of Lay) layers, feeding systems, feed, vaccines, medication, equipment and much more.

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