THE TONY ELUMELU FOUNDATION

About me
My name is Anuoluwa Boluwatife Oyatokun, I am an Entrepreneur who was brought up
and live in Oyo State. I am currently working on improving my millet cake business. I
have been trying to expand my millet cake Business to enable both poor and rich have
affordable cake in each homes. Cake has a high rate of sugar level which is not good for
the body and also for the person with diabetes. Therefore, I provide millet cake to
reduce the sugar level in cake.

What differentiate me
People use wheat flour to bake cake, wheat has other forms of carbohydrates that are
starch and fibers. The higher carbohydrate and starch can result in increased blood
sugar level. It can cause sugar levels to spike up.
The amount of direct sugars in 100 grams of wheat is calculated to be around
0.41grams. what differentiate me is that I am using millet flour to produce my own cake
instead of wheat flour. The reason I am using millet is that, millet has low glycemic index
and lower cholesterol. Therefore, consuming millets regularly to lower the risk of
developing diabetes.

My personal Achievement
I have started producing cake and selling it at the market but resources to make a better
package and acquire NAFDAC registration number. obviously there is product and
market awareness

My Revenue model
My millet cake business is very nutritious and is served at marriages, homes, birthdays,
naming ceremonies etc. How I price my baked cake impacts my profit. My pricing can be
based on the cost of ingredients and delivery expenses.
A box of 12 cakes takes me under 2 hours from scratch to make, costs no more than
3000 naira to produce, I sell it 8000 naira making me a profit of 4000 naira.

Round Buttercream Cake – 5,500 – 21000 (Naira)

Double Round Buttercream Cake 13000 – 44000 (Naira)
Velvet Cake 17000 – 29000 (Naira)
Chocolate Cake 13,500 – 24000 (Naira)
Cupcakes 4000 – 8000 (Naira)
Fruit Cake 5000 – 18000 (Naira)
Sponge Cake – 6000 -26000 (Naira)

Marketing Strategy
We aim at reaching our customers through personal contact by initiating supply to
Birthday party, naming ceremony, restaurants, supermarkets, provision stores for
wholesale and retails, use of mass media (Tv/Radio adverts) social media.

My next Milestone
After receiving the first seed capital, my business will grow to have her personal
business premises (land and building infrastructure) logistic vehicles for marketing.
Anuoluwa Boluwatife Oyatokun, Ilorin Kwara State wish to launch millet cake and also
made available at marriages, homes, and other event. I hope to achieve this dream
through Tony Elumelu Entrepreneurship program (TEP2022) and also hope to achieve
the following to create this product: Warehouse rent per year 200,000naira, milling
machine (locally made) cost 400,000, standby generator (lister type) cost 300,000naira,
cake roller and mixer cost 50,000. Cake decoration tools 200,000 and 300,000 for
Business Registration and accreditation with TEP financial support, my business will be
realized and approximately 30,600,000naira per annum and I will be also grateful
through this program, if my product Natural spice can be added to Nigeria made food
product and be accredited b NAFDAC