REMOVED

bloom11:
I learnt about crowd financing lately-- a business concept in which the entrepreneur solicits for fund from a large group of people. Therefore, I wish to use this medium to raise #1000 from 1000 people. is it possible?





Solicitation for loan and gift fund for a sole proprietorship roasted Groundnut business



Business Title.
Golden nut: a Groundnut production factory.

Description of business
Golden nut is a roasted groundnut business and a sole proprietorship business that started on a small scale in 2015. The objective of this business set up is to engage profitably in the production of packaged, roasted groundnut. The business is still in the infant stage even though it has been fully tested for marketability over a period of 1 year. The main cause of the slow growth of the business is the lack of adequate funding. With adequate funding, a Groundnut production factory like this can make a profit of #300 000 from an investment of #1 000 000. The major aim of this document is to raise funds for the expansion of this business in order to increase turn over.

Various products obtainable.
1. Sachet, roasted groundnut 2. Bottled, roasted groundnut. 3. Peanut butter. 4.Groundnut skin for piggery food. 5. groundnut husk for manures 6. Kuli kuli. 7. Groundnut oil. All this products would come out of the factory and they have high demand in Nigeria.

Duration from start date to production
The factory is slated to commence operations in August 2017, however, acquisition and set up of factory would take 3 month starting from May 2017 and ending in August 2017

Geographical location.
The business would be located in Akure the state capital of Ondo state due to (1) the high population of Akure (2) technical know and cheap labour (3) proximity to raw material. and (4) low competition.

Market of groundnut.
Groundnut is consumed all over Nigeria as a complementary food for other major foods and fruits. However, the potential customers for the factory include: Supermarkets, shop owners, roasted plantain sellers, kiosks, popcorn sellers as well as the open market.

Financial history
Golden nut has operated on a monthly budget of less than #50 000 for over 1 year. This is because the CEO of the business is still a student and could not access funds to initiate expansion. However, notwithstanding the constraints, Golden nut has proven to be significantly profitable over this period. Before the rise in dollars against naira, Golden nut experienced 100% return on invested capital and when dollar rose against naira the percentage return dropped to 40% which is still very reasonable.

Total estimated cost for expansion.
The expansion of Golden nut would cost #500 000 in asset and fixed cost, #400 000 in working capital for the first week, #100 000 in miscellaneous. Total cost is #1 000 000. Details of the cost is contained in the business plan.

Projected sales and profit after expansion
As at the time of compiling this document, 1 bag of 110 kg groundnut is capable of producing 105 bottles of groundnut. Since the factory is capable of processing 50 bags of Groundnut monthly, the output would therefore be 5250 bottles of groundnut monthly. Each bottle would be sold at #400 in Akure. Therefore, the company would turn over #2 100 000 monthly
The profit would then be #2 100 000 - #1 600 000(the monthly working capital)
Profit=#500 000. Which is 50% of the total invested capital. This means that the invested capital could be recovered within 4 months from start up. In 1 year this business is capable of turning over a total of #6 000 000 in profit.

The proposal
Golden nut has the potential to grow and expand in Akure since competitions for the roasted Groundnut market is not too much. However, the expansion would not be realised without access to funds.
Therefore, I ask for a loan from you. I am on the quest to raise a total of #1000 000 to fund the business. If you would grant me a loan of any amount I will pay back According to the terms and conditions agreed upon.
Another way you could help out is by donating a free will gift offering of #1000. I know if I can get 1000 people to give #1000 I will have #1000 000 to execute the expansion. Please don't just read, you could help share this summary with friends. Thanks in anticipation.

Contact person
Taiwo Olubunmi.
Account details ( for donations)
Bank: first bank
Account holder: Taiwo Olubunmi
Account number: 3101259713

Phone number: 08146432881
Email: taiwoolubunmij@yahoo.com

partnership is also welcome.

so you just had to post your account number, are you that desperate? i only saw your account number, i did not read all the epistle you wrote there, NA FORMAT, naija wise up

thank God you saw something. I'm not only despirate bro I'm giving my life, forgetting my ego, dumping my status just to get my vision started. I appreciate ur concern bro.