Few months ago I became really fortunate joining the steemit community, though I was seriously discouraged at the beginning because I did several post back then without getting reward but I didn’t give up I kept doing my best till I was found by this great community of freedom fighters – STEEMCHURCH.

Initially, STEEMCHURCH looked like a community that won’t stand the test of time, but here we are now, growing in faith, strength and in wealth and all this won’t have been possible if not for GOD HIMSELF and the great leadership skills of our leader @SIRKNIGHT!

After I’ve been able to save up some steem/sbd, I met with my Mom and l asked for some wise advice on how best I can develop myself and my community? And she said to me like an angel; “go into plantain and banana farming”. Knowing fully well that agriculture is necessity for both Economy and Community growth.

VISION AND MISSION OF THE BUSINESS

The vision of the plantain and banana farm is to produce high quality harvest (organic and inorganic), create employment for the youth and the unemployed and creating wealth and income for the investor and workers respectively.
The mission is to have a plantain farm (which I will consider as small scale) that yields profit, can be considered a long term investment and will be expanded to a large scale farm. The quality and nutritious products from my farm will be the first choice of my consumers, feed the population and be used as raw materials in the food processing industry.

UNIQUENESS OF THE PRODUCT

In Nigeria, the demand for plantain and banana far outweigh the supply, hence it is a money spinning venture for every willing entrepreneur. What makes the products of plantain/banana unique are:

• Plantain and Banana suckers are bought only once. After the initial purchase of the suckers, the suckers needed for expansion of the plantation is provided from the harvested plant.
• The harvested plant serves as organic manure for the soil.
• It is a major source of carbohydrate with low fat content for more than 50 million people. In Nigeria, all stages of the harvested fruit (immature to overripe) are used as a source of food in one form or the other.
• In Nigeria, plantain peels are used as feed for livestock, while the dried plantain is used for soap production. The dried leaves, sheath and petioles are used as dying materials, sponges and roofing material.

REVIEWED FINANCIAL PLAN

Cost Statement

Land: I’ve been able to acquire a Farm land few months ago. I planted some samples of plantain suckers to test the fertility of the land and recently I have managed to do some more preparation on the land.

Buy land - 80 STEEM (PURCHASED)

Storage facility in the urban area - 60 STEEM

Transportation of goods from rural area to the urban area - 50 STEEM
Labour for preparation of the land - 40 STEEM

Cost of preparation of the land (fertilization, weed control) - 30 STEEM
1000 suckers (0.15 STEEM per sucker) - 150 STEEM

` ## TOTAL - 410 STEEM

PROJECTED PROFIT

Total revenue: selling price per unit Х no of units sold.

Selling price of a bunch of plantain (as at analysis made on 24/05/2018) - 1.7 STEEM

Since plantain takes 9-12 months to develop fully in the first year, we only have one harvest in the first year and afterward we can have up to 5 – 6 harvest in a year depending on the productivity of land.

The total number of bunch for the first year: 1,000

The total revenue (TR) = selling price Х quantity = 1,000 Х 1.7 = 1,700 STEEM

Profit = total revenue – total cost: (1,700 – 410) STEEM
= 1,290 STEEM per annum (first year)

After the first harvest,

Cost Statement becomes;

Storage facility in the urban area - 60 STEEM

Transportation of goods from rural area to the urban area - 50 STEEM

Cost of preparation of the land (fertilization, weed control) - 30 STEEM

` ## TOTAL - 140 STEEM

PROJECTED PROFIT becomes;

Total revenue: selling price per unit Х no of units sold.

Selling price of a bunch of plantain (as at analysis made on 24/05/2018) - 1.7 STEEM

The total number of bunch for the first year: 1,000

The total revenue (TR) = selling price Х quantity = 1,000 Х 1.7 = 1,700 STEEM

Profit = total revenue – total cost: (1,700 – 140) STEEM
= 1,560 STEEM per Harvest

With a minimum of 3 harvest in a year we have – 1,560 STEEM X 3 = 4,680 STEEM

THUS,

MINIMUM PROFIT A YEAR = 4,680 STEEM

Encouraging Exchange with STEEM

At the time of harvest, a Steemit account will be created and I’ll be limiting the first sales to steemian in Nigeria, particularly Edo state. All transaction will be in steem at a very discount rate (lower than the market rate) to encourage the purchase with steem.

When this is done successfully with my fellow steemians, I’ll then extend sales to the general Market and before harvest, I must have made them understand that I’ll be selling at a very low rate but all transaction will be in steem.
Using the current rate as an example:

1 bunch of plantain - #1700 – 1.7steem (General market)

I’ll then sell

1 bunch of plantain - #1000 – 1 steem (making them save #700)

This might cause a drop in profit earned, but it will not be much of a problem because I’ll still be having more than enough profit after my first harvest. But most importantly, this will boost and Encouraging Exchange with OUR DEAR STEEM.

SO PARTNER/SUPPORT ME TODAY, WHO KNOWS, WE MIGHT BECOME THE LARGEST PLANTAIN SUPPLIER IN THE WORLD!