1.
The Idea
Nigeria is blessed with access to
the Atlantic Ocean, Sea, Rivers, Lagoons and with it, a wide variety of Sea
foods. In recent times, more people have joined in fish farming (various
Catfish farmers), all adding to the high abundance of fish and other seafood
produces in Nigeria. But one wonders why we still import canned fish product
like Sardines, Tuna, Geisha into Nigeria.
Canned
fish are fish, which have been processed, sealed in
an airtight container such as a sealed tin can, and
subjected to heat. Canning is a
method of preserving food,
and provides a typical shelf life ranging from one to five years.
You
could start your own brand of canned fish product. Yours could be canned
catfish with the bones removed, or Tilapia, even Titus. You would need a
Cannery to help with the Tin Can
Idea
Summary
Canned
fish
- Get in touch with a Fish farmer or farmers depending on the scale you desire. Your continuous supply of Fishes will ensure your continuous existence in Business.
- Agree on how to move the Fishes to your factory, if the farmers are delivering to you or you would get them by yourself.
- Arrange to purchase (or simply rent) a vehicle (truck) for transportation depending on number 2 above.
- Process your fishes; add the preservatives and other additives needed in the sauce. Package the fish in the Tin cans.
- Contact your prospective customers (Retail stores, Big departmental stores), let them know you can supply and the price you are offering
- Run your promotional campaign; create awareness about the new product.
- As demands arise, make the supply, get paid
2. The Business
- Value Proposition: Canned Fish product, which has been processed and packaged to preserve the rich taste and nutrients in the Fishes, having longer shelf lifes.
- Customer Segment: Corner shops, retailers, departmental stores (Spar, Shoprite) Markets, etc.
- Distribution Channels: Sales team, middle marketers or distribution agents. A dedicated phone line, a website and good social media presence would serve as a good channel to distribute and communicate the Value proposed.
- Customer Relationship: Direct and Mass.
- Key Activities: Food Processing and Packaging, Selling, Logistics, negotiating, supply chain management, customer service, delivery etc.
- Key Resources: Startup funds, vehicle for logistics, depot (depending on scale of operation), Workforce (Food processing assistants, Sales team, delivery team, Management team, quality control etc.
- Key Partners: Fish production and other related unions or associations, Fish Farmers, Government regulatory agencies, 3rd party logistics, Retailers, etc.
- Cost Structure: Staff pay, work related equipment (Vehicle purchase or rental, Fish processing equipment), Cannery cost, Promotions, licenses (NAFDAC) and other needed permits, etc. These are just a few costs related with this Business, more research would therefore be needed before embarking on this.
- Revenue Stream: Sales from selling the Canned Fish product.
3.
Competition
There will be competition from
others who could also go into this Business. Its capital intensiveness
(depending on scale) can serve as barrier to enter the market.
Other imported foreign canned fish
products will also compete with a new made in Nigeria Canned fish products as
it would take a while before Nigerians warm up towards, or trust the new
locally produced Canned fish product.
4.
Risks
Some possible risks.
-
Government
policies and regulations can affect the Business and it could also provide
advantage aswell. E.g If a policy bans importation of Canned fish into Nigeria
citing health reasons, this could provide great advantage to the Business
-
A
mistake or poor delivery in quality of processed and packaged fish can be a
Public health hazard and could easily have disastrous consequence. Quality and
Hygiene should have the highest priority.
Summary
This week’s idea explored taking
advantage of the abundant Fish produced to make a locally made Canned Fish
product to serve the Nigerian market and provide an alternative for imported canned
fish products. This can create employment opportunities and generate revenue
for Nigeria.
Thanks for following this series.
Till next week, stay inspired.
ARTICLE BY MR EBIS
Follow Mr. Ebis on twitter @mrebis
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