Nkasiobi Emmanuel Ceazer
DESCRIBE YOUR BUSINESS:
OBI Seafoods is a reputable supplier of premium dried crayfish in Abuja, Nigeria. We specialize in providing high-quality, hygienically processed dried crayfish to meet the demands of households, restaurants, and food processors.
If given the grant I will:
Rent a shop for a year…$200
Buy 5 bags of 33 Custard of Crayfish —–$800
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Total Amount Requested is $1,000.
I have over 200 customers
How would this help your business? How will this help your business generate more income?
I’m moving my crayfish business from home to a market shop. This means more people will see my products, and I’ll sell more. I can now work longer hours, even on weekends. Being in the market helps me team up with other vendors.
The rent is $200 yearly. It’s a good investment because I’ll sell 80% more crayfish and get 30% more customers.
YOUR NET INCOME
For every $100 in revenue, the business spends $30 which leaves $($70) in net income (70% margin) after all expenses including self-salary.
The Income Statement contains the first 3 months of the business from March 2024 to March 2025 (with the future impact of the grant to the business in the coming months)
CASH FLOW (5 MONTHS INTO THE FUTURE)
Some of my products
BUSINESS MISSION STATEMENT:
In OBI Seafoods, we provide premium dried crayfish, carefully selected and processed for rich flavor and nutrition. We strive to exceed customer expectations through uncompromising quality, timely delivery, and personalized service. Our goal is to build lasting relationships and earn trust as our go-to supplier of dried crayfish. We prioritize integrity, reliability, and community support. (Dried to Perfection, Delivered with Care)
Motto: Excellence, every time, every bite.
SERVICE OR PRODUCT DELIVERABLE:
We start by sampling our products and word of mouth to acquire customers.
Next, we discuss their preferences, quantity needs, and budget.
We take their order and get paid.
Once that is done, the purchased items are packaged, and organized for delivery.
DESCRIBE YOUR BEST CUSTOMER:
My best customer, Alex, is the Food Manager at the Royal Palace Hotel. He buys premium dried crayfish from me regularly for his hotel’s top-class dishes. He likes that I deliver quality products on time and at a good price. This helps his hotel impresses guests with delicious food, earning great reviews. He trusts me and I ensure he gets the best, every time.
WHY CUSTOMERS DO BUSINESS WITH YOU RATHER THAN WITH YOUR COMPETITORS?
Customers prefer OBI Seafoods because of our high-quality products, reliable and timely delivery, personalized customer service, and competitive pricing. We also offer flexible ordering options and consistently demonstrate our understanding of their unique needs. By being trustworthy and dedicated to their success, we build lasting relationships with valued customers like Alex, making OBI Seafoods their go-to supplier.
LIST YOUR SERVICES OR PRODUCTS AND THEIR PRICES:
Prices to customers (1600 naira = $1)
| Product | Price (per unit) |
| 1 Custard | 5000 |
| 7 custard | 35000 |
| Mudu | 2000 |
| Package 800g | 12000 |
| Package 50g | 1000 |
| 36 Custard | 280000 |
HOW DO CUSTOMERS KNOW THAT YOU EXIST? :
Through internet adverts, Market, and social gathering
WHY DID YOU CHOOSE THIS BUSINESS?
I chose the dried crayfish business for several reasons:
Passion for the Food Industry: I’m passionate about the food industry, and dried crayfish is a staple ingredient in many West African cuisines.
Market Demand: There’s a high demand for dried crayfish, particularly in Nigeria, where it’s a key ingredient in popular dishes like soups and stews.
Low Startup Costs: Starting a dried crayfish business requires a relatively low initial investment.
Profit Potential: Dried crayfish has a high-profit margin, making it a viable business venture.
Flexibility: This business allows me to operate in various markets, from retail to wholesale, and cater to diverse customers.
Personal Connection: Growing up, I saw my family members engage in fishing and seafood trading, inspiring me to continue the legacy.
Growth Opportunities: The business has the potential for expansion into new markets, products, and value-added services.
What is the most common cause for a crayfish business like this to fail?
1) Inability to adapt to changing market trends and prices:
Failure to adjust to fluctuations in market demand, prices, or consumer preferences can make your business less competitive.
2) Poor financial management and record-keeping:
Inadequate financial planning, budgeting, and record-keeping can lead to cash flow problems, debt, and business failure.
How can I avoid this problem,
1) Monitor market trends and consumer preferences.
2) Adjust pricing strategies accordingly
Diversify products or services to stay competitive.
3) Maintain accurate and up-to-date financial records
4) Create realistic budgets and financial projections.
5) Regularly review and adjust financial plans to ensure sustainability.
LIST YOUR TOP WAYS TO FIND NEW CUSTOMERS:
Here are the top 5 ways OBI Seafoods finds new customers:
1. Social media promotion (Facebook, Instagram, Twitter)
2. Attending food festivals and trade shows
3. Partnering with restaurants and food bloggers
4. Direct contact with potential customers
5. Word-of-mouth referrals from happy customers
HOW LONG HAVE YOU BEEN IN BUSINESS?
My Family Photo: From the right is my nephew, then my two nieces, followed by me in-between my two nieces ( I am an Orphan, with only me and my sister, left in the family)
CONTACT DETAILS:
Phone number: +2348134879562
Email: emmanuelceazer112@gmail.com