RICE MILLING BUSINESS PLAN

TABLE OF CONTENTS

1.0      Executive Summary

1.1      Business Overview:

1.2      Mission Statement:

1.3      Vision Statement:

1.4      Business Objectives (First 5 Years)

2.0      Company Overview

2.1      Business Model

2.2      Ownership Structure:

2.3      Business Location Rationale:

2.4      Target Market Segments:

2.5      Products and Services:

3.0      Market Analysis

3.1.     Industry Overview

3.2.     Target Market Segments

3.3.     Competitive Landscape

3.4.     SWOT Analysis 

4.0      Marketing Strategy

4.1.     Branding and Positioning

4.2.     Pricing Strategy

4.3.     Promotion Strategy

4.4.     Distribution Strategy

5.0      Operations Plan

5.1.     Location and Facility

5.2.     Production Process

5.3.     Equipment and Machinery

5.4.     Operating Hours and Staff Shifts

6.0      Organizational Structure and Management

6.1.     Management Structure

6.2.     Management Team

6.3.     Personnel Plan

7.0      Financial Plan

7.1.     Startup Capital Requirement

7.2.     Revenue Projections (Year 1–3)

7.3.     Monthly Operating Costs Estimate

8.0      Risk Analysis

8.1.     Market Risks

8.2.     Operational Risks

8.3.     Financial Risks

8.4.     Regulatory Risks

9.0      Implementation Timeline

1.0 Executive Summary

Business Name:

Lagos Rice Millers & Grains Ltd.

Business Location:

Ikorodu Industrial Estate, Lagos State, Nigeria

Business Type:

Agro-processing – Rice Milling and Packaging

Founder(s):

Mr. Ayodele Bakare & Partners

1.1 Business Overview:

Lagos Rice Millers & Grains Ltd. is a medium-scale rice milling and packaging enterprise established to address Nigeria’s persistent rice supply gap by producing high-quality, affordable, locally milled rice. Strategically located in Lagos State—Nigeria’s commercial capital—the business leverages proximity to markets, distribution networks, and key rice-producing states like Kebbi, Ebonyi, and Niger.

Our core objective is to process raw paddy into polished, high-grade rice for household and commercial consumption. The mill will operate a 5-ton-per-day (TPD) capacity processing plant, producing an estimated 100–120 bags of finished rice daily.

1.2 Mission Statement:

“To process and supply clean, nutritious, and affordable Nigerian rice that meets international food safety and quality standards.”

1.3 Vision Statement:

“To become one of Nigeria’s most trusted brands in locally milled rice by 2030.”

1.4 Business Objectives (First 5 Years):

• Attain 80% production capacity within 12 months.
• Build a supply chain from 500+ paddy rice farmers.
• Reach 100+ retail and bulk buyers across South-West Nigeria.
• Launch branded rice packaging in 5kg, 10kg, and 25kg variants.
• Break even by Q4 of Year 2 and expand plant to 10TPD by Year 4.

Startup Capital Requirement:

₦85 million

Capital Structure:

• Equity Contribution: ₦25 million (from founders and investors)
• Bank Loan (Bank of Industry or NIRSAL): ₦60 million

Profit Projection (After Tax):

• Year 1: ₦8.5 million
• Year 2: ₦18.7 million
• Year 3: ₦30.2 million

Unique Selling Proposition:

• 100% Nigerian rice processed to eliminate stones, dust, and husks.
• Attractive, hygienic packaging for retail shelf visibility.
• Strategic Lagos location for affordable distribution.

2.0 Company Overview

Lagos Rice Millers & Grains Ltd. is a registered limited liability company under the Corporate Affairs Commission (CAC) of Nigeria, with RC No. 3214567. The company is owned by a consortium of agricultural entrepreneurs and is managed by professionals with decades of experience in food processing, logistics, and agribusiness.

2.1 Business Model

The company purchases paddy rice from farms in the north-central and northwestern regions of Nigeria. Upon delivery to our Lagos mill, the rice is subjected to a sequence of cleaning, dehusking, polishing, grading, and packaging processes. Finished products are stored and distributed to wholesalers, supermarkets, caterers, and open markets.

2.2 Ownership Structure:

Legal Form:

Private Limited Liability Company

2.3 Business Location Rationale:

Ikorodu Industrial Estate provides:

• Easy access to markets in Lagos, Ogun, and Oyo States.
• Proximity to Lagos ports for possible export.
• Affordable land, industrial power access, and security.

2.4 Target Market Segments:

• Low and middle-income households
• Restaurants and fast-food chains
• Institutional buyers (schools, hotels, hospitals)
• Open market retailers and supermarkets
• Export distributors (in the long term)

2.5 Products and Services:

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