Nigeria - Startup under 3 years old

Describe your project or startup in a few words

Richy's cereal and dairy foods is basically a trade and an agricultural based kind of business, which was established in the year 2023, and was subsequently registered under the corporate affairs commission (CAC) in Nigeria on the 9/Feb/2024.

01.01 Describe your startup in more detail

Richy's cereal and dairy foods aims to supply cheap and reliable cereal and dairy products to consumers in local areas, the cereal and dairy products include; Nestle milo, chocolate tea, dano milk, lactorich milk, Kellogg's cornflakes, nasco cornflakes, Nestle golden morn, custard powder, suger and a host of others. The major objective of the business is to buy cereals and dairies in bags/larger quantities and sell-out directly to local consumers in both wholesale and retail prices. Subsequently, we engage with consumers on frequent education and advertisement which will help to convince the local consumers on the quality and quantity need of our products, the cheapness and reliability. Cereals and dairies are consumable items needed by the general public, including fast food joints and bakeries, students in hostels, children and adults alike; however, they can be sold in measurements or scales when bought in bags or larger quantities. Hence, the profit thereof cant be over emphasiz

01.02 What is the main problem you are trying to solve?

To supply cheap and reliable cereal and dairy products to consumers in rural communities: this is because of the exorbitant price of these basic food items in rural areas

01.03 Tell us the major benefits and/or advantages of using the product/service that your startup provides (at least 3).

1. Customers can buy these products in scales or measurements, which is quite affordable 2. For example, buying a lactorich milk in scale helps consumers get these items in greater quantities, compared to sachet or tin milk in the market spaces. 3. Help subsidise transportation cost for items 4. Prices for these goods are very cheap 5. Discounts, bonuses and freebies packages. 6. Etc.

01.04 Please describe who exactly your startup’s product/service is aimed at serving. Who are the targeted beneficiaries?

1. All kind of students in campus and off campus 2. Mothers and fathers 3. Bakeries 4. Fast food joints 5. Company workers 6. Children and adults

01.05 When was your company established?

2024-02-09

01.06 Are you already selling your product/service?

Yes

01.07 How many other owners are there within your startup?

4

01.08 Among the other owners, how many are female?

2

01.09 Please describe the profile of the other owners within your startup (skills, experience, etc.)

They buy and cereals and dairies foods, although the retail cost of their items are high because they do not buy directly, either from the producers or suppliers. However they sell in small quantities, therefore do not sell cheaply to the local consumers

01.10 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link(s) here:

01.11 Which industry best describes your project?

d) Primary commodities (food, drink, household and personal products)

02.01.01 My startup contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification for my startup

Because Richy's cereal and dairy foods intends to supply consumable items to people in rural areas, with the intention of having little, but steady profit target. So that these items can be cheap, affordable and reliable.

02.02.01 My startup contributes to the Zero hunger goal

7 - Strongly Agree

02.02.02 Zero hunger - Justification for my startup

Because if cereals and dairies are surplus in supply, it creates room for accessibility, thereby reducing the cost of these goods and even getting to the very poor

02.03.01 My startup contributes to the Good health and well-being goal

7 - Strongly Agree

02.03.02 Good health and well-being - Justification for my startup

Because one of our goal is centred on quality, therefore the products are harzard free and must be NAFDAC satified

02.04.01 My startup contributes to the Quality education goal

6

02.04.02 Quality education - Justification for my startup

Consumers are enlightened on the quality and quantity need of Richy's cereal and dairy foods through our various communication channels, including face to face administration, WhatsApp group, Facebook group, etc.

02.05.01 My startup contributes to the Gender equality goal

7 - Strongly Agree

02.05.02 Gender equality - Justification for my startup

Consumers of cereal and dairy food are both male and female, it does not discriminate.

02.06.01 My startup contributes to the Clean water and sanitation goal

7 - Strongly Agree

02.06.02 Clean water and sanitation - Justification for my startup

Shop/store is always clean and tidied, any water used for same services are kept safe from dirts and stains

02.07.01 My startup contributes to the Affordable and clean energy goal

7 - Strongly Agree

02.07.02 Affordable and clean energy - Justification for my startup

In Omoku, Ogba/Egbema/Ndoni LGA, there is a sufficient steady light, unless in the case of total breakdown. However, we can source for alternative means

02.08.01 My startup contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification for my startup

Since consumers can get these items in affordable prices, it will help them safe some money possibly realized from cheapness and affordability of low cost products The economy can also be improved through access to employment in Richy's cereal and dairy foods

02.09.01 My startup contributes to the Industry innovation and infrastructure

7 - Strongly Agree

02.09.02 Industry innovation and infrastructure - Justification for my startup

We intend to intermittently expand the scope of cereal and dairy supplies, into a larger market size; where stocks will be consistently available and supplies be done far across its present areas of operation to other communities and towns within and outside Rivers State.

02.10.01 My startup contributes to the Reduced inequalities goal

7 - Strongly Agree

02.10.02 Reduced inequalities - Justification for my startup

Because some of our products are foreign, eg. Lactorich

02.11.01 My startup contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification for my startup

Richy's cereal and dairy foods is a call for development, certainly there is need for more people to settle within such environment

02.12.01 My startup contributes to the Responsible consumption and production goal

6

02.12.02 Responsible consumption and production - Justification for my startup

That is why we resort to educating the consumers on the safe use of cereals and dairies

02.13.01 My startup contributes to the Climate action goal

5

02.13.02 Climate action - Justification for my startup

Do not think so

02.14.01 My startup contributes to the Life below water goal

5

02.14.02 Life below water - Justification for my startup

I do not think so

02.15.01 My startup contributes to the Life on land goal

2

02.15.02 Life on land - Justification for my startup

I do not think it has anything to do with life on land

02.16.01 My startup contributes to the Peace Justice and Strong Institutions goal

6

02.16.02 Peace Justice and Strong Institutions- Justification for my startup

Because it promotes equality between women and men. It also reduces hunger and poverty

02.17.01 My startup contributes to the Partnerships for the goal

6

02.17.02 Partnerships for the goal - Justification for my startup

Because Richy's cereal and dairy foods connects people from the manufacturing phase down to the local consumers. Obviously, there is a synergy in partnership.

06.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

7 - Strongly Agree

06.02 The product/service represents an entirely new type of product/service.

2

06.03 The product/service could be described as a new technology.

1 - Strongly Disagree

06.04 The product/service is an improvement on an existing product or service.

7 - Strongly Agree

06.05 The product/service could be described as an extension of a range of products or services.

6

06.06 The product/service responds to a demand or need that has not been satisfied by other products/services.

6

06.07 The product/service is a new version of an old product/service.

6

06.08 Justification for my startup

For instance, milks are bought in tin and sachets, but these my items can take alternative forms, and can be bought in bags, and retailed in scales eg. Dano, lactorich, chocolate, etc.

06.09 Competitive Analysis

People who sell in retail prices. I stand out because Richy's cereal and dairy foods intends to sell both in retail and wholesale prices

11.05 Are you initiating actions within your community to promote the role of female entrepreneurs?