Top 11 Cost Production Rate of Yam Flour : Yam is a source of carbohydrate energy which has become a staple food crop in Nigeria.
Nigeria is currently the largest producer of yam with an aggregate annual production of about 18 million tons, representing half of the world output.
Furthermore, yam can grow within many of the ecological zones of the country.
Yam can be consumed as breakfast, lunch and dinner menu.
It depends on the processing method applied.
Thus, yam can be boiled and eaten or parboiled and dried prior to milling or boiled fully and pounded.
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1. Market Potential.
The market potential for yam flour is very wide.
Yam flour known locally as ‘elubo’ or ‘amala’ flour was originally developed by the Yorubas.
It has however appealed to other tribes too who also consume it.
Thus, yam flour is today in high demand because of its wide appeal, little content of fiber and energy value.
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2. RAW MATERIALS
The basic raw material is yam.
Machinery and Equipment requires
1. Gas-fired boiler
2. Drier
3. Disc mill
4. Sieve
5. Weighing scale
6. Sealing machine
3. PROCESSING METHOD
Yam is peeled, washed and sliced. It is parboiled to develop the typical ‘amala’ flavour.
This process involves boiling the yam slices in water for a few minutes with cooking utensils.
The parboiled yam is dried, milled and packaged in polythene bags.
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4. INVESTMENT COST
Machinery and Equipment – N80,000
Factory rental – 36,000
Cassava – 100,000
Utilities – 8,000
Wages/Salaries – 22,000
Miscellaneous – 10,000
Total – N260,000
5. LOCATION OF THE BUSINESS
The business will be locate in a strategic place that will be easily accessible to the public in Benin City, Edo State, Nigeria.
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6. FINANCIAL RESOURCES
There are different ways to source for money to start a business. Some of these ways are:
1. Personal savings
2. Family support
3. Micro-finance bank.
7. ADVERTISING
This is a way to make the public aware of the business after it has been approved off and cleared by the government agency in charge. Advertising helps to educate potential consumers or customers of the kind of product in this case fish that is being marketed.
Advertising creates awareness for the business. Ways of advertising are:
1. Television commercials
2. Bill board
3. Handing out flyers
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8. LABOUR
Labour is the person or people employed to work in the cassava starch production.
9. SALARY/WAGES
This is money paid to the employees for the work they have done.
It could be on a daily or a monthly basis. Salary is very important as it increases the production output of the business.
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Cost Production Rate of Yam Flour
10. WHAT MAKES YOU THINK YOU CAN START AND OPERATE THE BUSINESS MENTIONED ABOVE?
The first thing an entrepreneur needs is determination. Once he is determined, he can start a business as long as he has the resources.
As for my Yam Flour production, it is easy to start because is not capital intensive. What it really needs is a lot of diligence and hard work.
11. WHAT MUST YOU DO TO REACH THE POINT OF LOOKING FOR FUNDS FOR YOUR BUSINESS
For an entrepreneur to get to the point of looking for funds for his business, he must first find out everything about the business he wants to set up, weigh his advantages in setting up the business against the disadvantages, the gains against the losses and the risk in starting the business. If the advantages and the profit for outweighs the disadvantages, then he can start sourcing for funds.
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Cost Production Rate of Yam Flour
CONCLUSION
Yam Flour Production is something that virtually everyone eats in one form or another.
It is something which is always in demand so to source for funds.
I must first find out if my business is going to be profitable in the present marketing system.
If it’s going to be convenient for me to run the business without any glitches in plan.
If the location I want for the business is accessible and if the equipment needed to start the business are available in the market.
You will need to gather resources to start off your business.
This includes: suitable location and site, human resources, suitable technology for operation, obtaining licenses, permits, etc., money or financial resources (capital) and then, lunching your business.