Amana Honey Processing Biz Plan

HONEY PROCESSING BUSINESS PLAN
Email: [email protected] - Tel: 08062765562
AMANA MEDICINE STORE
Honey Processing
Business Plan
35cl Honey Bottles, 75cl Honey Bottles, 1, 2 & 3 Litres Honey Bottles.
AMANA MEDICINE STORE IS REGISTERED WITH THE CORPORATE AFFAIRS

COMMISSION OF NIGERIA AS AN ENTERPRISE WITH REGISTRATION NUMBER
BN498122.
MASUD AMINU • MANAGING DIRECTOR
Consultant/Business Development by: End to End Agri Business Project

Tel: 09053309100, 08035075721
© 2019
Page 1 of 35
Table of Contents
DECLARATION .................................................................................................... 4
EXECUTIVE SUMMARY ....................................................................................... 5
FINANCIAL SUMMARY ....................................................................................... 7
INDUSTRY INSIGHT............................................................................................. 8
AMANA BUSINESS DESCRIPTION AND GOALS .................................................. 11
OUR PRODUCTS AND SERVICES: ................................................................... 11
OUR GOALS ................................................................................................... 12
OUR VISION .................................................................................................. 12
OUR MISSION ............................................................................................... 12
UTILIZATION PLAN ........................................................................................... 13
TARGET MARKET .............................................................................................. 14
HONEY MARKET DISTRIBUTION ....................................................................... 15
MARKETING STRATEGIES ................................................................................. 15
ORGANIZATIONAL STRUCTURE ........................................................................ 17
ROLES AND RESPONSIBILITIES ....................................................................... 17
STAFF ORGANOGRAM...................................................................................... 20
Page 2 of 35
SWOT ANALYSIS ............................................................................................... 21
STRENGTHS: .................................................................................................. 21
WEAKNESSES ................................................................................................ 21
OPPORTUNITIES ............................................................................................ 22
THREATS ....................................................................................................... 22
MARKET ANALYSIS ........................................................................................... 23
MARKET TRENDS .......................................................................................... 23
PROMOTION AND DISTRIBUTION ................................................................. 24
Promotional Strategy ............................................................................... 24
Distribution .............................................................................................. 24
OUR COMPETITIVE ADVANTAGE ................................................................... 25
SALES FORECAST ........................................................................................... 26
YEAR 1 SALES FORECAST ............................................................................... 26
PAYMENT OPTIONS ...................................................................................... 29
CASHFLOW PROJECTIONS ................................................................................ 30
BALANCE SHEET ANALYSIS ............................................................................ 32
SUSTAINABILITY STRATEGY ........................................................................... 33
Page 3 of 35
DECLARATION
On behalf of Xtratech Dynamic Integrated Links Ltd, I declare that the

information given in this report is correct and dependable to the best of my
knowledge and belief. However, we will not take responsibility for any wrong
understanding, interpretation, application of the information by any second or
third parties.
Consequently, we request interested parties to contact us for further
clarification on any aspect of the report whenever the need arises.
Representation:
Name: Abdulmalik Abiodun Ali,
Designation: Business Development Manager – Xtratech Dynamic Integrated
Links Ltd.
Date: February, 2022.
Page 4 of 35
EXECUTIVE SUMMARY
Honey is the natural sweet substance, produced by honey bees from the
nectar of flowers. It has been regarded a food with high nutritional value and
enigmatic healing and preserving powers. Honey has been used both as a food
product and medicine in Nigeria. We are setting up a business of Honey
Processing and Packaging. The processing, packaging and
marketing would be accomplished in Sokoto, Sokoto State. The business will
start with two units of Honey Extraction Machines. Production capacity of
the honey processing and packaging business would be around 300
litres monthly.
The total project cost of the business would be approximately

N5,500,000. Debt and equity ratio will be 10:1. Debt will be paid back in 3 years
by monthly equal instalment method. The distribution network desirable for
marketing and distribution of honey products will be one which provides
complete solution from pickup of product from the manufacturing premises,
distribution and ensuring space availability for the product on the retail outlet.
This type of distribution network is proposed for the reason that being a
new business setup, it would be difficult for the manufacturer (owner) to handle
logistics involved in managing distribution; therefore, commissioning such kind
of solution will make it possible for the manufacturer to concentrate on product
development and broaden market niche.
Our primary target market would be children and the old people which
are more than 50% of the total current population. Production capacity of the
honey would be around 3,600 litres during first year
Page 5 of 35
The financial projections at the end of this business plan illustrates that
the total amount request is N5, 500, 000.00 to make a Net income projected at
N4,210,308 in the first year and N 7,462,019 net profit in the third year.
Page 6 of 35
FINANCIAL SUMMARY
Company
Prepared By: Name:
AMANA DIL LTD
([email protected]) AMANA MEDICINE STORE
Depreciation
Fixed Assets Amount (years)
Leasehold
Improvement 150,000 30
Equipment 4,500,000 20
Furniture and
Fixtures 75,000 3
₦
Total Fixed Assets 4,725,000
Operating Capital Amount

Pre-Opening Salaries
and Wages (3
Months) 100,000
Registrations &
Regulation 20,000
Legal, Consult and

Accounting Fees 25,000
Utility Deposits 20,000
Branding 30,000
Other Initial Start-Up
Costs 80,000
Working Capital 500,000

Total Operating ₦
Capital 775,000
₦
Total Required Funds 5,500,000
Loa Term
n in
Rat Mont Monthly
Sources of Funding Percentage Totals e hs Payments
Owner's Equity 9.09% 500,000

Additional Loans or
Debt
9.00
Commercial Loan 90.91% 5,000,000 % 36 158,999
Total Sources of ₦
Funding 100.00% 5,500,000 ₦ 158,999
Page 7 of 35
INDUSTRY INSIGHT
Local Insight
Only about 2,000 tons of beeswax and 16,000 tons of honey are produced
annually in Nigeria. Yet the consumption rate of honey is over 380,000 tons per
annum. Nigeria also spends over 3 billion naira on the importation of honey from
China annually. Honey is an excellent export commodity because of its long shelf
life.
Honey production is such a viable business ventures in Nigeria because it
requires little capital. It also has huge potentials to grow from a small-scale into
a large enterprise. Honey, itself and its by-product, beeswax are essential
ingredients in many products in the skincare, food, medicinal industry. People
are becoming more aware of the value and health benefits of this natural
product. Honey is a hot selling commodity not only locally but also in the
international market. The market for honey keeps expanding every year. This
allows for open business opportunities for those who want to go into honey
production. Nigeria also has the perfect climatic conditions and environment for
beekeeping and breeding.
The honey business in Nigeria has not been fully explored in spite of its
multi-million-dollar potential.
Page 8 of 35
Global Insight
The global honey market size was valued at USD 8.58 billion in 2021 and
is expected to expand at a compound annual growth rate (CAGR) of 5.2% from
2022 to 2030. Honey is an excellent source of numerous nutritional ingredients
including vitamins, minerals, calcium, and antioxidants. The growing health
concerns in the wake of the COVID-19 pandemic could be a game-changer for
the honey sector. Due to its antibacterial, antiviral, and anti-fungal properties,
the product is receiving appreciation and wider acceptance as an effective
medicine to treat acute cough and throat infection observed in corona-infected
patients.
Honey is used in beverages, processed foods, jams, and jellies and is
increasingly used as an ingredient in health and beauty products. The easy
availability of a wide range of these products, coupled with the product’s ability
to impart a desirable taste in food and beverage products, is aiding the market
demand. Moreover, honey contains a number of medical characteristics,
including the ability to boost metabolic activity, control blood pressure, lower
the risk of diabetes, and even treat burn wounds. Thus, it is widely used in many
applications apart from food and beverages, such as cosmetics and
pharmaceuticals, which is also estimated to augment the market growth.
Page 9 of 35
Page 10 of 35
AMANA BUSINESS DESCRIPTION AND GOALS
Amana Honey is a new business that will initially focus on small scale honey
processing and packaging. The honey to be sold will be processed and pre-
packaged for wholesale distribution. After packaging and labeling all bottles with
our own logo and story, the pure honey will be sold to the public at local
markets. With the use of a rented processing facility we will establish a factory
in Sokoto for processing 35cl, 75cl, 1 ltr, 2 ltr and 3 ltr bottles.
As illustrated in our business profile, our business objectives include:
i. To market and supply honey and beeswax to the public. This may include
honey production, processing and packaging.
ii. To provide beekeeping and honey processing capacity building as a service.
iii. To further expand the honey processing business in the nearest future by
introducing a complete honey processing line include bottle blowing, bottle
filling, capping, packaging and printing lines.
OUR PRODUCTS AND SERVICES:
 Honey
 Beeswax
 Capacity Building
Page 11 of 35
OUR GOALS
To sell over 3,600 litres of our products in the first year and increase our
production rate by 50% in the 3rd year.
OUR VISION
Our vision is to develop sustainable operational systems for our honey
business makes our company among the leading honey processing businesses in
Nigeria.
OUR MISSION
To supply our customers the best of honey products of the highest quality
standard possible in the global market.
Page 12 of 35
UTILIZATION PLAN
S/NO EQUIPMENT QTY UNIT PRICE TOTAL PRICE (N)
(N)
1. HONEY EXTRACTION MACHINE
2 1,630,000
3,260,000
2. 6.6 KVA Sumec Firman Power Generator
1 450,000
450,000
3. Rent and Leasehold Improvements 1 380,000 390,000
4. Raw Material Stock (Bowl of Raw Honey

60 15,000 900,000
with Comb)
TOTAL
5,000,000.00
Page 13 of 35
TARGET MARKET
The immediate market for the Amana Honey Services is Sokoto and the
surrounding townships such as Kebbi and Zamfara where people with various
income and age reside. The markets of these areas will be targeted for public
honey sales and advertisement. Our product is a favorite of all ages, genders,
and denominations for its sweet taste, cooking use, and medicinal properties.
Our story will target a customer base who wishes to buy locally and support the
sustainable livelihood efforts meant to uplift disadvantaged communities.
Page 14 of 35
HONEY MARKET DISTRIBUTION
HONEY MARKET
HOUSEHOLD CUSTOMERS
BUSINESS CUSTOMERS
RETAILERS
FOREIGN MARKET
MARKETING STRATEGIES
1. Website and Social Networking Sites:
Amana Honey has created a Facebook page to allow public access to the
business’s story, services, and contact information. Additional social
networking sites, such as twitter, and online website advertising will soon be
introduced upon startup.
Page 15 of 35
2. Door-to-Door Distribution:
Small pamphlets and flyers with the business description, services, and contact
information will be distributed. This is meant to establish strong customer
relations and business networking that will jump start an initial customer base.
Reaching out to our community to promote our business will prove useful in two
ways: loyal customer base and community motivation. Personally, talking to our
community members will build a relationship that is familiar and close. By
promoting our business success through our background story, we hope to
motivate others from our community that they, too, have the opportunity to be
successful either by becoming a retailer, or marketer of our products.
3. Publicity:
The same flyers used in the Door-to-Door Distribution strategy will be
posted to the public. When traveling Door-to-Door, our members will wear an
Amana Honey t-shirt to display the business’s services and contact information
in public areas.
4. Rare Discount Offer:
It depends on the time and amount a consumer wants to buy. Big amount of
Amana honey gives big discount which is also rare in this industry and very
attractive too.
Page 16 of 35
ORGANIZATIONAL STRUCTURE
At Amana Honey Processing and Packaging Business, we will ensure that we hire
people that are qualified, hardworking, dedicated, customer centric and are
ready to work to help us build a prosperous business that will benefit all our
stakeholders (the owners, workforce, and customers).
In view of the above, Amana Honey Processing and Packaging Business
have decided to hire/designate qualified and competent hands/members to
occupy the following positions;
 Manager
 Production Manager/Supervisor
 Sales Executives/Finance
 Production Labour
ROLES AND RESPONSIBILITIES
Manager
 Responsible for the planning, management and coordinating all activities
across the various sections on behalf of the organization
 Ensures compliance
 Provides instructions on the management of factory activities
Page 17 of 35
 Uses IT systems and software to keep track of people and progress of the
growth of market
 Responsible for overseeing the accounting, costing and sale of product
 Responsible for overseeing the smooth running of HR and administrative
tasks for the organization
 Handles all financial transactions for the company
 Defines job positions for recruitment and managing interviewing process
 Carries out staff induction for new team members
 Responsible for training, evaluation and assessment of employees
 Oversees the smooth running of the daily activities of production
Production Manager/Supervisor
 Responsible for the production/processing of Honey into end products.
 Supervises other workers within the department
 Works closely with the Manager to achieve the organizations’ goals and
objectives
Sales Executive/Finance
 Identifies, prioritizes, and reaches out to new partners, and business
opportunities et al
Page 18 of 35
 Identifies development opportunities; follows up on development leads
and contacts; participates in the structuring and financing of projects;
assures the completion of relevant projects
 Writes winning proposal documents, negotiate fees and rates in line with
company policy
 Responsible for handling business research, marker surveys and feasibility
studies for clients
 Responsible for supervising implementation, advocate for the customer’s
needs, and communicate with customers
 Develops, executes and evaluates new plans for expanding increase sales
 Documents all customer contact and information
 Represents the company in strategic meetings
 Helps to increase sales and growth for the business
Production Labour
Executes all instructions and assignments allotted by the production and sales
managers respectively.
Page 19 of 35
STAFF ORGANOGRAM
Proudction Labour
Production
Cleaner
Manager/Supervisor
Manager
Sales Manager/Finance Security
Page 20 of 35
SWOT ANALYSIS
STRENGTHS:
 The Managing Director of the company has business experience and in-
depth knowledge in both business and technical aspect.
 The project enjoys a good export potential to neighbouring countries, as
it is located in Sokoto which has a border town to Niger Republic (i.e Illela).
 These products are in high demand in developed countries
 The quality of the product is world standard
 The prices are very much within the buying range of the population at the
Bottom of the Pyramid.
 The availability of the raw material locally.
WEAKNESSES
 Though the raw material is available the supply is still unsecure to meet a
large quantity demand because of limited production capacity.
 Price is too low to be believed by the consumers as the alternative
products are established from renowned pharmaceuticals and with high
price.
 A very new company with very limited resources
Page 21 of 35
OPPORTUNITIES
 The market potential of these products, as has been assessed by
renowned pharmaceutical organizations, is quite substantial. The
consumption and dependability on the natural products, especially on
food supplements is rising at a much higher rate in the country and the
local market has got growth potential in view of increasing awareness.
 Community people in different regions in the country are familiar with the
product without knowing its nutritional value. If the product is promoted
rightly there will create a large demand from every corner of the country.
 The product can be the best arm to combat the malnutrition of the
country.
 People are now health conscious. Wellbeing is in everyone’s mind.
Therefore, good quality honey attracts their attention very easily.
THREATS
• Organic Food Supplement is a new concept in the Nigeria. People know
about the vitamins and minerals from pharmaceutical companies,
however, very few people are aware about the reason of having those
vitamins and minerals. This takes a long period of time to make people
aware and believe on this organic food supplements.
Page 22 of 35
MARKET ANALYSIS
MARKET TRENDS
If you are a close observer of the trends in the Honey production business,
you will agree that the Honey production business is anticipated to increase due
to increasing consumer health consciousness, which has led to increasing
demand. The price of Honey has increased as consumers demand premium
Honey products.
So also, the number of both small and large businesses has been
increasing. Small, local businesses are benefiting from the organic, local
movement, while large, commercial businesses are improving labour efficiency.
Going forward, players in the industry will continue to increase revenue
generation for their business.
Page 23 of 35
PROMOTION AND DISTRIBUTION
Promotional Strategy
We will go for different promotional activities as illustrated below:
• Email marketing will be a good source of promotion
• We will go for social marketing by posting some links and also creating
face book advertisement in a regular basis.
• Promotional material for super shop sells.
• Advertising in different online website like- e bay, amazon.com,
Akhoni.com, Bikroi.com etc to Promote/sell our products.
• Direct market visit, crash program.
• Participate in events, fairs and exhibitions.
Distribution
A proper distribution channel will be established.
However, the following distribution channels will be introduced initially:
Page 24 of 35
OUR COMPETITIVE ADVANTAGE
We are going to have:
 Effective service delivery
 Hygienic packaging
 Good customer relation
 Different sales outlet
Page 25 of 35
SALES FORECAST
We have perfected our sales and marketing strategies and we are quite optimistic that we will meet or even surpass
our set sales target of generating enough income/profits from the first year of operation and build the business from
survival to sustainability.
YEAR 1 SALES FORECAST
Sales Forecast Year 1
Compan
Prepared By:
y Name:
XTRATECH DIL
LTD AMANA MEDICINE
(xtratechdil@gma STORE
il.com)
Sales COGS
Product Lines Units Price Per Margin
Per Unit Per
Unit Unit
35CL HONEY BOTTLE ₦ ₦ ₦
2,500 1,700 800.00
₦ ₦ ₦
75CL HONEY BOTTLE
3,500 2,500 1,000.00
₦ ₦ ₦
1LTR HONEY BOTTLE
11,500 8,900 2,600.00
2LTR HONEY BOTTLE ₦ ₦ ₦
20,000 17,500 2,500.00
₦ ₦ ₦
3LTR HONEY BOTTLE
33,000 29,000 4,000.00
Page 26 of 35
Septem Octobe Novem Decem Annual
Product Lines March April May June July August ber r ber ber January February Totals
35CL HONEY
BOTTLE Sold 272 273 275 276 277 279 280 282 283 284 286 287 3,355
Total Sales ₦
680,000 683,400 686,817 690,251 693,702 697,171 700,657 704,160 707,681 711,219 714,775 718,349 8,388,182
Total COGS ₦
462,400 464,712 467,036 469,371 471,718 474,076 476,447 478,829 481,223 483,629 486,047 488,477 5,703,964
Total Margin ₦
217,600 218,688 219,781 220,880 221,985 223,095 224,210 225,331 226,458 227,590 228,728 229,872 2,684,218
75CL HONEY
BOTTLE Sold 170 171 172 173 173 174 175 176 177 178 179 180 2,097
₦
Total Sales
595,000 597,975 600,965 603,970 606,990 610,024 613,075 616,140 619,221 622,317 625,428 628,556 7,339,660
₦
Total COGS
425,000 427,125 429,261 431,407 433,564 435,732 437,910 440,100 442,300 444,512 446,735 448,968 5,242,614
₦
Margin
170,000 170,850 171,704 172,563 173,426 174,293 175,164 176,040 176,920 177,805 178,694 179,587 2,097,046
1LTR HONEY
BOTTLE Sold 24 24 24 24 24 25 25 25 25 25 25 25 296
Total Sales ₦
276,000 277,380 278,767 280,161 281,562 282,969 284,384 285,806 287,235 288,671 290,115 291,565 3,404,615
Total COGS ₦
213,600 214,668 215,741 216,820 217,904 218,994 220,089 221,189 222,295 223,406 224,524 225,646 2,634,876
Margin ₦
62,400 62,712 63,026 63,341 63,657 63,976 64,296 64,617 64,940 65,265 65,591 65,919 769,739
2LTR HONEY
BOTTLE Sold 40 41 42 42 43 44 45 46 47 48 49 50 536
₦
Total Sales 10,729,67
800,000 816,000 832,320 848,966 865,946 883,265 900,930 918,949 937,328 956,074 975,196 994,699
2
₦
Total COGS
700,000 714,000 728,280 742,846 757,703 772,857 788,314 804,080 820,162 836,565 853,296 870,362 9,388,463
₦
Margin
100,000 102,000 104,040 106,121 108,243 110,408 112,616 114,869 117,166 119,509 121,899 124,337 1,341,209
Page 27 of 35
3LTR HONEY
BOTTLE Sold 40 41 42 42 43 44 45 46 47 48 49 50 536
₦
Total Sales 1,346,40 1,373,32 1,400,79 1,457,38 1,486,53 1,516,26 1,546,59 1,577,52 17,703,95
1,320,000 1,428,810 1,609,073 1,641,254
0 8 5 7 4 5 0 2 8
₦
Total COGS 1,183,20 1,206,86 1,231,00 1,280,73 1,306,34 1,332,47 1,359,12 1,386,30 15,558,02
1,160,000 1,255,621 1,414,034 1,442,314
0 4 1 4 8 5 5 7 4
Margin ₦
160,000 163,200 166,464 169,793 173,189 176,653 180,186 183,790 187,466 191,215 195,039 198,940 2,145,934
Total Units
546 550 554 558 562 566 570 574 579 583 587 592 6,821
Sold
₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦
Total Sales 3,671,00 3,721,15 3,772,19 3,824,14 3,877,01 3,930,8 3,985,58 4,041,3 4,098,0 4,155,8 ₦ ₦ 47,566,08
4,214,587 4,274,423
0 5 7 2 0 16 0 20 55 04 7
Total Cost of ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦
2,961,00 3,003,70 3,047,18 3,091,44 3,136,51 3,182,3 3,229,10 3,276,6 3,325,1 3,374,4 ₦ ₦ 38,527,94
Goods Sold 3,424,635 3,475,768
0 5 2 5 0 92 8 73 05 20 1
Total Margin ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦
710,000 717,450 725,015 732,698 740,500 748,424 756,472 764,647 772,950 781,384 789,952 798,655 9,038,146
Page 28 of 35
PAYMENT OPTIONS
The payment policy adopted by Amana Honey Processing and Packaging
Business is all inclusive because we will be aligning with the new Cashless Policy
of the Central Bank of Nigeria by introducing several electronic payment options
including the following:
• Payment via Point of Sale Machines (POS Machines)
• Payment via mobile money transfer
• Payment via bank transfer
• Payment with cash
• Payment via online bank transfer
• Payment via check
Our bank account numbers will be made available on request.
Page 29 of 35
CASHFLOW PROJECTIONS
Compan
Prepared By: y Name:
XTRATECH DIL
LTD
([email protected] AMANA MEDICINE
om) STORE
Septem Novem Decemb Februar

March April May June July August ber October ber er January y Totals
₦ ₦ ₦
₦ ₦ ₦ ₦ ₦ ₦ 2,472,31 ₦ 3,262,78 ₦ 3,972,58 ₦
Beginning Balance 500,000 844,673 1,196,796 1,454,487 1,821,858 2,197,031 9 2,863,464 4 3,556,526 2 4,397,207
Cash Inflows
₦
3,985,58 4,098,05 4,214,58 47,566,0
Cash Sales 3,671,000 3,721,155 3,772,197 3,824,142 3,877,010 3,930,816 0 4,041,320 5 4,155,804 7 4,274,423 87
Accounts ₦
Receivable - - - - - - - - - - - - -
₦ ₦ ₦ ₦
₦ ₦ ₦ ₦ ₦ ₦ 3,985,58 ₦ 4,098,05 ₦ 4,214,58 ₦ 47,566,0
Total Cash Inflows 3,671,000 3,721,155 3,772,197 3,824,142 3,877,010 3,930,816 0 4,041,320 5 4,155,804 7 4,274,423 87
Cash Outflows
Investing
Activities
₦
Cost 3,229,10 3,325,10 3,424,63 38,527,9
of Goods Sold 2,961,000 3,003,705 3,047,182 3,091,445 3,136,510 3,182,392 8 3,276,673 5 3,374,420 5 3,475,768 41
Operating
Activities
Opera ₦
ting Expenses 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 600,000
Page 30 of 35
₦
1,875,93
Payroll 156,328 156,328 156,328 156,328 156,328 156,328 156,328 156,328 156,328 156,328 156,328 156,328 9
₦
Taxes - - 101,998 - - 107,809 - - 113,881 - - 120,228 443,916
Divide ₦
nds Paid - - - - - - - - - - - - -
₦ ₦ ₦ ₦
Total Cash ₦ ₦ ₦ ₦ ₦ ₦ 3,594,43 ₦ 3,804,31 ₦ 3,789,96 ₦ 43,355,7
Outflows 3,326,327 3,369,032 3,514,506 3,456,772 3,501,836 3,655,528 5 3,642,000 3 3,739,747 2 3,961,323 80
₦
₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ 4,210,30
Net Cash Flows 344,673 352,123 257,691 367,371 375,173 275,288 391,145 399,320 293,742 416,057 424,625 313,100 8
₦ ₦ ₦
Operating Cash ₦ ₦ ₦ ₦ ₦ ₦ 2,863,46 ₦ 3,556,52 ₦ 4,397,20 ₦
Balance 844,673 1,196,796 1,454,487 1,821,858 2,197,031 2,472,319 4 3,262,784 6 3,972,582 7 4,710,308
Line of Credit ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦
Drawdown - - - - - - - - - - - - -
₦ ₦ ₦
Ending Cash ₦ ₦ ₦ ₦ ₦ ₦ 2,863,46 ₦ 3,556,52 ₦ 4,397,20 ₦
Balance 844,673 1,196,796 1,454,487 1,821,858 2,197,031 2,472,319 4 3,262,784 6 3,972,582 7 4,710,308
Line of Credit ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦ ₦
Balance - - - - - - - - - - - -
Page 31 of 35
BALANCE SHEET ANALYSIS
Prepared By: Company Name:

XTRATECH DIL LTD ([email protected]) AMANA MEDICINE STORE
ASSETS 2023 2024 2025

Current Assets
Cash 4,710,308 7,990,432 15,452,451
Accounts Receivable - 0 0
Inventory 20,000 20,000 20,000
Prepaid Expenses 116,667 58,333 -
Other Initial Costs 53,333 26,667 -

₦ ₦ ₦
Total Current Assets 4,900,308 8,095,432 15,472,451
Fixed Assets
Real Estate -- Land
- - -
Real Estate -- Buildings
- - -
Leasehold Improvements
150,000 150,000 150,000
Equipment
4,500,000 4,500,000 4,500,000
Furniture and Fixtures
75,000 75,000 75,000
Vehicles
- - -
Other
- - -
Total Fixed Assets ₦ ₦ ₦
4,725,000 4,725,000 4,725,000
₦ ₦ ₦
(Less Accumulated Depreciation)
255,000 510,000 765,000
Total Assets ₦ ₦ ₦
9,370,307 12,310,432 19,432,451
LIABILITIES & EQUITY

Equity
Common Stock
500,000 500,000 500,000
Retained Earnings
5,389,963 12,392,296 21,332,451
Dividends Dispersed/Owners Draw
- 2,400,000 2,400,000
Total Equity ₦ ₦ ₦
5,889,963 10,492,296 19,432,451
₦ ₦ ₦
Total Liabilities and Equity 9,370,307 12,310,432 19,432,451
₦ ₦ ₦
Balance sheet in or out of balance? - - -
Balanced! Balanced! Balanced!
Page 32 of 35
SUSTAINABILITY STRATEGY
One of our major goals of starting Amana Honey Processing and Packaging
Business is to build a business that will survive off its own cash flow without the
need for injecting finance from external sources once the business is officially
running. We know that one of the ways of gaining approval and winning
customers over is to sell our product (Honey) a little bit cheaper than what is
obtainable in the market and we are well prepared to survive on lower profit
margin for a while.
Amana Honey Processing and Packaging Business will make sure that the
right foundation, structures and processes are put in place to ensure that our
staff welfare are well taken care of.
Page 33 of 35
AMORTIZATION PLAN
Company
Prepared By:
Name:
XTRATECH DIL LTD AMANA MEDICINE
([email protected]) STORE
Commercial Loan
₦
Principal Amount 5,000,000
Interest Rate 9.00%
Loan Term in Months 36.00

Monthly Payment ₦
Amount 158,999
Septe Octob Novem Decem Februar
March April May June July August mber er ber ber January y Totals
Year One
₦
Interest 37,500 36,589 35,671 34,746 33,814 32,875 31,929 30,976 30,016 29,048 28,074 27,092 388,329
₦
1,519,65
Principal 121,499 122,410 123,328 124,253 125,185 126,124 127,070 128,023 128,983 129,950 130,925 131,907 5
4,632,76 4,508,51 4,383,32 4,257,20 4,130,13 4,002,1 3,873,12 3,743,17 3,480,34

Loan Balance 4,878,501 4,756,091 3 1 6 2 2 10 7 7 3,612,252 5
Year Two
₦
Interest 26,103 25,106 24,102 23,090 22,071 21,044 20,009 18,967 17,916 16,858 15,792 14,718 245,775
₦
1,662,20
Principal 132,896 133,893 134,897 135,909 136,928 137,955 138,990 140,032 141,082 142,140 143,206 144,281 9
3,078,65 2,942,75 2,805,82 2,667,86 2,528,87 2,388,8 2,247,76 2,105,62 1,818,13

Loan Balance 3,347,449 3,213,556 9 0 2 7 8 46 3 3 1,962,416 6
Year Three
₦
Interest 13,636 12,546 11,447 10,341 9,226 8,103 6,971 5,831 4,682 3,524 2,358 1,184 89,848
Page 34 of 35
₦
1,818,13
Principal 145,363 146,453 147,551 148,658 149,773 150,896 152,028 153,168 154,317 155,474 156,640 157,815 6
1,378,76 1,230,11 1,080,33

Loan Balance 1,672,773 1,526,320 9 1 8 929,442 777,414 624,246 469,929 314,455 157,815 0
Page 35 of 35

Amana Honey Processing Biz Plan

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HONEY PROCESSING BUSINESS PLAN

Email: [email protected] - Tel: 08062765562

AMANA MEDICINE STORE

AMANA MEDICINE STORE IS REGISTERED WITH THE CORPORATE AFFAIRS

MASUD AMINU • MANAGING DIRECTOR

Consultant/Business Development by: End to End Agri Business Project

EXECUTIVE SUMMARY ....................................................................................... 5

FINANCIAL SUMMARY ....................................................................................... 7

AMANA BUSINESS DESCRIPTION AND GOALS .................................................. 11

OUR PRODUCTS AND SERVICES: ................................................................... 11

OUR GOALS ................................................................................................... 12

OUR VISION .................................................................................................. 12

OUR MISSION ............................................................................................... 12

UTILIZATION PLAN ........................................................................................... 13

TARGET MARKET .............................................................................................. 14

HONEY MARKET DISTRIBUTION ....................................................................... 15

MARKETING STRATEGIES ................................................................................. 15

ORGANIZATIONAL STRUCTURE ........................................................................ 17

ROLES AND RESPONSIBILITIES ....................................................................... 17

MARKET ANALYSIS ........................................................................................... 23

MARKET TRENDS .......................................................................................... 23

PROMOTION AND DISTRIBUTION ................................................................. 24

Promotional Strategy ............................................................................... 24

OUR COMPETITIVE ADVANTAGE ................................................................... 25

SALES FORECAST ........................................................................................... 26

YEAR 1 SALES FORECAST ............................................................................... 26

PAYMENT OPTIONS ...................................................................................... 29

CASHFLOW PROJECTIONS ................................................................................ 30

BALANCE SHEET ANALYSIS ............................................................................ 32

SUSTAINABILITY STRATEGY ........................................................................... 33

On behalf of Xtratech Dynamic Integrated Links Ltd, I declare that the

The total project cost of the business would be approximately

Operating Capital Amount

Legal, Consult and

Utility Deposits 20,000

Working Capital 500,000

Owner's Equity 9.09% 500,000

Honey production is such a viable business ventures in Nigeria because it

ingredients in many products in the skincare, food, medicinal industry. People

beekeeping and breeding.

is expected to expand at a compound annual growth rate (CAGR) of 5.2% from

2022 to 2030. Honey is an excellent source of numerous nutritional ingredients

including vitamins, minerals, calcium, and antioxidants. The growing health

concerns in the wake of the COVID-19 pandemic could be a game-changer for

the product is receiving appreciation and wider acceptance as an effective

medicine to treat acute cough and throat infection observed in corona-infected

Honey is used in beverages, processed foods, jams, and jellies and is

increasingly used as an ingredient in health and beauty products. The easy

demand. Moreover, honey contains a number of medical characteristics,

applications apart from food and beverages, such as cosmetics and

pharmaceuticals, which is also estimated to augment the market growth.

As illustrated in our business profile, our business objectives include:

honey production, processing and packaging.

ii. To provide beekeeping and honey processing capacity building as a service.

introducing a complete honey processing line include bottle blowing, bottle

filling, capping, packaging and printing lines.

OUR PRODUCTS AND SERVICES:

production rate by 50% in the 3rd year.