How to Start a Wheat Flour Mill Business In Nigeria?
This article will help those looking for resources that answers a common question ” How to start a wheat flour mill business in Nigeria.
As a budding entrepreneur who is thinking of starting a business and becoming your own boss, one of the businesses that you can start if you have the ﬁnancial requirement and of course business expose is to open a wheat ﬂour production mill. Although this type of business is not a business that you can start making proﬁts from immediately, you are sure going to make huge proﬁts in the long run if you always rekindle your determination and stay proactive in running the business. The reason is not far – fetched. This type of business is capital intensive, i.e. it requires a huge amount of capital to start up.
Beyond doubt, wheat ﬂour is consumed in all parts of the world either as ﬂour or the ﬂour is used in the production of bread and other baked foods. This goes to back the thought that there is indeed a large market both domestically and internationally for wheat ﬂour production companies. Below is a sample wheat ﬂour production mill business plan template that can help you to successfully write your own.
Wheat ﬂour production companies’ are involved in milling wheat grains into ﬂour and then packaging and selling them to wholesale distributors, grocery wholesalers or other food-related business. They purchase wheat grain inputs from wholesalers or directly from farmers. The fact that wheat ﬂour mills products are considered diet staples, the industry’s relevance in the years to come is undebatable. The revenue and proﬁt generated from this industry will depend on the price and production of wheat. As companies vertically integrate and merge operations to take advantage of economies of scale, revenue will increase.
According to a report released by IBISWorld, the Flour Milling industry of which Wheat Flour Mill Production line of business is a part of is characterized by a low level of market share concentration. The report stated that in 2016, the top three players are expected to account for less than 31.0 per cent of industry revenue. While the industry exhibits low concentration, the industry is expected to approach moderate concentration over the next ﬁve years in line with the entrance of larger ﬂour milling companies. The report also stated that, in 2014, Ardent Mills entered the industry, as a result of ConAgra Mills and Horizon Milling, which is a joint venture between Cargill and CHS, combining their ﬂour milling operations. Overall, larger operations will enable ﬂour milling companies to use their large size to leverage lower costs for input commodities, such as wheat and grains
THE FLOUR PRODUCTION MILL INDUSTRY IN NIGERIA
The Flour Production Mill industry is a subset Is a thriving sector of the economy in Nigeria that generates a huge sum of well over ten billion yearly from several registered and licensed wheat ﬂour mill production companies all over the country.
The industry provides employment for well over 24,938 people. If the capital can only set you up on a small scale level, your first market approach should be servicing your local community. You would need contacts, packaging, networking coupled with good marketing and customer service skills. However, if the capital can kick start the business on a large scale, then you should consider spreading beyond your local community to the regional level, state-level or even national level. The point is, the wheat ﬂour production mill line of business is a proﬁtable industry and it is wide open for any aspiring entrepreneur to come in and begin his or her business; you can choose to begin on a small scale, mainly servicing a community or you can choose to go big on from the jump, with several distribution outlets in key cities all around the Country.
How To Download The Full Wheat Flour Mill Business Plan Template PDF (with financial analysis)
Now that you know how to start a wheat flour mill business in Nigeria, IF you need the complete wheat flour mill business plan, follow the procedures to download it.
Pay the sum of N5000 (Five thousand naira only) to the account detail below:
Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us)
Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the wheat flour mill business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the business plan in Nigeria to your email address where you can easily download it.