BUSINESS PLAN PROJECT REPORT OLALEY SOLAR ENERGY SOLUTION

PREPARED BY

ADEGBOYE OLALEKAN OLUWADAMILOLA

SUBJECT CODE: EPPK604

LECTUR ER’SNAME: PROF. MADYA DR.ZIZAH CHE

SUBJECT NAME: BUSINESS PLAN PROJECT

SUMMITION DATE: 30-06-2016

COVER LETTER

CORPORATE AFFAIRS COMMISSION OLALEY SOLAR ENERGY SOLUTION

122. Hospital Road C.E.O/General Manager,

Akura,Ondo State 14 Araromi Street, Ijare

Nigeria. Ifedore L.G.A

Email:akure@cac.gov.ng Nigeria. Ondo State,

Nigeria.

01.08.2016

Dear Sir,

BUSINESS LICENCE APPLICATION

I as the C.E.O/manager of Olaley Solar Energy Solution. I would like to apply for Business
registration for our company. Just to bring to your notice, we are a new company that wants
to develop our business bigger and expand to all parts of Nigeria.

Our business is located at the heart of commercial center in ijare and in a very strategic
environment. You can find our address above. Our business has a big potential to gain
profits. However, we want you to register our business. We believe if you register our
business you will have no cause to regret. And we will add to the country GDP.

We would be glad if our request is granted and we look forward hearing from you soon. We
can be contacted with this email: OSES@gmail.com

Contact number: +2348139660373,

Thank You,

Yours Faithfully,
(ADEGBOYE OLALEKAN OLUWADAMILOLA)

C.E.O/GENERAL MANAGER OLALEY SOLAR ENERGY SOLUTION.

 CERTIFICATE OF AUTHENTICITY WRITING

ADEGBOYE OLALEKAN OLUWADAMILOLA A05770692

Title of project paper: Business Plan/ Business Proposal

Field of Research: Business/ Entrepreneurship & Innovation.

We solemnly declare that:

i. I am the only author of this project paper,

ii. This project paper is original and genuine;
iii. Any usage of copyrighter items were done appropriately according to intellectual
property law;
iv. I do not have actual knowledge that the production of this piece of work is a
violation of other copyrighted work;
v. I hereby surrender all and every right contained in this copyrighted work at
University Kebangsaan Malaysia (UKM) and is now the proprietor of this
copyrighted work;
vi. This work has not previously been accepted in substance for any Master Degree,
locally or overseas and is not being concurrently submitted for this Master Degree
of any other Masters Degrees;
vii. This project paper is the result of my independent work and investigation, expert
where otherwise stated;
viii. All verbatim extracts have been distinguished by quotation marks and sources of
our information have been specifically acknowledged.

__________________

ADEGBOYE OLALEKAN OLUWADAMILOLA

(A05770692)

CEO/General Manager

Signature of Candidate: ______________________ Date:

Signature of Witness

______________________

Date:

Name: PROF. MADYA DR. ZIZAH CHE

Position: PREOFESSOR

Faculty of Economics & Management

UNIVERSITY KEBANGSAAN MALAYSIA (UKM)

 LETTER OF SUBMISSION
30/ 06/2016

PROF. MADYA DR.ZIZAH CHE

Department of Entrepreneurship & Innovation,

Faculty of Economic & Management,

University Kebangsaan Malaysia (UKM)

Bangi, Malaysia

SUBMITTION OF BUSINESS PLAN REPORT

Dear Sir,

Attached with this is business plan report title ‘’OLALEY SOLAR ENERGY SOLUTION’’
(OSES) to fulfill the requirement as needed by the Faculty of Economics & Management,
University Kebangsaan Malaysia (UKM)

I hereby submit this Report and I really hope that the work I put together fulfills every
requirement. Thank you so much sir (PROF. MADYA DR.ZIZAH CHE) for giving me the
chance to work on this project.

Thank you,

Yours Sincerely

_______________

ADEGBOYE OLALEKAN OLUWADAMILOLA

(A05770692)

CEO/General Manager
 ACKNOWLEDGEMENT

I would like to express my special thanks and gratitude to my lecturer PROF. MADYA
DR.ZIZAH CHE who gave me the golden opportunity to do this wonderful project proposal
which also helped me in thinking of the future.

I am making this report not only for marks but to also increase my knowledge. Thanks again
to all that contributed to the success of this work.
TABLE OF CONTENTS

1.0 EXECUTIVE SUMMARY

1.1 INTRODUCTION

1.2 NAME OF THE COMPANY

1.3 NATURE OF THE BUSINESS

1.4 INDUSTRY PROFILE

1.5 LOCATION OF THE BUSINESS

1.6 DATE OF BUSINESS COMMENCEMENT

1.7 FACTORS IN SELECTING THE PROPOSED BUSINESS

1.7.1 THE INCREASE OF DEMAND IN THE INDUSTRY

1.7.2 TO INTRODUCE NEW BUSINESS MODEL

1.7.3 GOVERNMENT CAMPAIGN

1.7.4 CHANGES IN SOCIAL AND LIFESTYLE IN MALAYSIA

1.7.5 HIGH RETURN AND PROFIT

1.8 FUTURE PROSPECTS OF THE BUSINESS

1.8.1 TO OPEN MORE BRANCHES IN MALAYSIA

1.8.2 TO PROVIDE JOB OPPORTUNITIES

1.8.3 TO CONTRIBUTE TOWARDS MALAYSIAN ECONOMY

2.0 PURPOSE OF THE BUSINESS PLAN

3.0 COMPANY BACKGROUND

4.0 LOCATION OF THE BUSINESS

4.1 PHYSICAL LOCATION

5.0 ADMINISTRATIVE PLAN

5.1 INTRODUCTION TO THE ORGANIZATION

5.1.1 VISION

5.1.2 MISSION

5.1.3 OBJECTIVES

5.1.4 LOGO AND DESCRIPTIONS

5.2 ORGANIZATION CHART

5.3 MANPOWER PLANNING

5.4 SCHEDULE OF TASKS AND RESPONSIBILITIES

5.5 SCHEDULE OF REMUNERATION

5.6 ADMINISTRATIVE LAYOUT

5.7 LIST OF OFFICE EQUIPMENT AND SUPPLIES

5.8 ADMINISTRATIVE BUDGET

6.0 MARKETING PLAN

6.1 INTRODUCTION

6.2 MARKET PLACE ANALYSIS OVERVIEW

6.3 THE INVESTMENT OPPORTUNITY

6.4 MARKETING OBJECTIVES

6.5 TARGET MARKET

6.5.1 POTENTIAL CUSTOMERS

6.5.2 MARKET SEGMENTATION

6.6 MARKET SIZE

6.7 COMPETITOR ANALYSIS

6.7.1 LIST OF COMPANIES

6.7.1.1 COMPANY A

6.7.1.2 COMPANY B

6.7.1.3 COMPANY C

6.7.2 COMPETITORS’ STRENGTHS AND WEAKNESSES

6.7.3 SWOT ANALYSIS OF ZENITH FASHION

7.0 MARKET SHARE

7.0.1 MARKET SHARE BEFORE ENTRY OF ZENITH FASHION

COMPANY

7.0.2 ADJUSTED MARKET SHARE AFTER ENTRY OF ZENITH

FASHION COMPANY

7.1 SALES FORECAST

7.2 MARKETING STRATEGIES

7.2.1 PRODUCT/SERVICE STRATEGY

7.2.1.1 BRAND

7.2.1.2 QUALITY

7.2.1.3 DESIGN

7.2.1.4 PACKAGING

7.2.1.5 LABELLING

7.2.1.6 AFTER SALES SERVICE

 7.3.0 PRICING STRATEGY

7.3.1.1 COST-BASED PRICING

7.3.1.2 VALUE-BASED PRICING

7.3.1.3 COMPETITION-BASED PRICING

7.3.2 PLACE/DISTRIBUTION STRATEGY

7.3.2.1 DIRECT TO CONSUMER

7.3.2.2 SELLING THROUGH RETAILERS

7.3.2.3 SELLING THROUGH WHOLESALERS

7.3.3 PROMOTION STRATEGY

7.9.4.1 ADVERTISING

7.9.4.2 SALES PROMOTION

7.9.4.3 PUBLIC RELATIONS AND PUBLICITY

7.9.4.4 PERSONAL SELLING

7.10 MARKETING BUDGET

8.0 OPERATION PLAN

8.1 INTRODUCTION

8.2 OPERATIONAL OBJECTIVES

8.2.1 LIST OF SUPPLIERS FOR RAW MATERIALS

8.2.1 START UP MATERIA AND COST

8.3 BUSINESS AND OPERATION HOURS

8.3.1 BUSINESS HOURS

8.3.2 OPERATIONS HOURS

 8.4 LICENSE, PERMITS AND REGULATIONS

8.5 OPERATIONS BUDGET

8.6 IMPLEMENTATION SCHEDULE

8.6.1 THE IMPORTANCE OF PROJECT SCHEDULING

8.6.2 PROJECT IMPLEMENTATION SCHEDULE

9.0 FINANCIAL PLAN

9.1 INTRODUCTION

9.2 IMPORTANCE OF PREPARING BUDGET

9.3 THE PROCESS OF DEVELOPING A FINANCIAL PLAN

9.4 FINANCIAL INPUT

10.0 CONCLUSION

11.0 APPENDIXES
1.0 EXECUTIVE SUMMARY

This project for Olaley Solar Energy Solution (OSES) is designed to be financially profitable,
technically feasible and good for investors, customers, staff, the community at large, and the
environment.

Olaley Solar Energy Solution (OSES) will provide much type of reliable product and service.
The reason why we prepared this business work is to make sure that the business opens and
run smoothly by following what we have planned. OSES also takes care of the resources, more
arranged and flexible such as Financial resources, human resources, equipment’s, time and
stock that need to be selling and get it escape from wasted and maximize the company profit.

This business plan is also important to support our document and business plan to get Grants,
loan from any financial institution when necessary and to get business partnership for
investment.

This business plan includes the purpose, introduction of business, business location,
administration and human resource aspect, marketing aspect, financial plan and the conclusion
of the business plan.

At the end of conclusion, we have attached some attachments such as registration forms,
business cards, flyers, bunting, and other references of our business.

1.2 INTRODUCTION

It is of great importance that we speedily tap into alternative energy sources that are cleaner
and safer due to the country’s vulnerability to climate change.

Myself and Many Nigerians believe the only way to solve the age long electricity crisis in the
country is through independent power generation, as they have since lost faith in the
government’s ability to decisively solve this problem that has significantly stunted the growth
of the Nigerian economy for years now. Well it will be difficult to blame people trying to
meet basic electricity supply needs and also keep businesses running without much hassle.

As we now know the environmental threats and inconveniences power generators cause, it is
quite encouraging to see some effort from the government, research institutes and private
stakeholders on the development of alternative energy sources for power generation. Solar
energy, which is the most abundant of all the available renewable energy sources, has been
making raves of late and I believe it is about time we started taking the prospects of this
energy source more seriously.

Considering the current issues with unbundling the power sector, deregulation and increase in
generating capacity, we can begin to pick some positives from the evident change in
approach by some factions of the government regarding solar energy. Do not get me wrong,
Nigeria’s interest in solar energy dates back to decades ago but the subsequent effect before
now has been drastically minimal.

1.3 NAME OF COMPANY

OLALEY SOLAR ENERGY SOLUTION (OSES)

1.4 NATURE OF BUSINESS

Traditionally, Nigerians have recognize the importance of energy in their homes and
businesses. Individuals and business need electricity to work. OSES will provide a reliable
and affordable energy to the consumers through his company. We strongly believe that
through our financial innovation OSES will reach out to many customers than expected.
People are in need of energy and the energy is lack in the system. Our financial innovation
will assist us in reaching out to all the three classes of people in the society.

(The low income, the middle income and the high income).our location is at the commercial
hob of the startup town (ijare).

1.5 INDUSTRY PROFILE

Nigeria is the most populous Nation in Africa. The country has demonstrated over 16 years of
political stability, and is governed by a multiparty democracy based on English common law.
Nigeria has posted an average annual economic growth rate of 6.3% over the past ten years;
however inflation currently lingers at 8.4%. Nigeria’s GDP is expected to grow at 5.94%
annually through 2015. Petroleum is the nation’s primary industry, accounting for more than
35% of its GDP, and employing over 40% of its workforce directly or indirectly. Only 50%
of Nigeria’s population live in urban areas, meaning that the country’s 80 million out of 167
million people are widely dispersed over an area more than twice the size of California.
Between 1999 and 2014, demand for electricity in Nigeria grew at an average annual rate of
10.2%, a trend that is expected to continue. Over 75% of Nigeria’s electricity consumers are
served by hydroelectric power, and the country experiences generation shortfalls during
drought conditions. Almost all of Nigeria’s electricity usage is confined to its urban areas.
Ijare is a remote farming community in the southwestern corner of Nigeria, about 50
kilometers from the western shore of Niger Delta. The region experiences two dependable
rainy seasons per year, and receives an annual average of about five peak sun hours per day,
roughly 10% more than Denver, Colorado.

About 40,000 people, or 50,000 households, live in this region, which is situated on a wide,
sloping ridge at an elevation of 1,650 meters (5,400 feet) above sea level. The prominence of
this ridge above the surrounding plain leaves it exposed to the tropical trade winds, which
consistently blow from the west. There are few regions in the world that boast such abundant
RE natural resources. The average yearly income is about $3,500 per family, and, though this
is strikingly poor by western standards, Ijare is one of Nigeria’s historical rural communities.

1.6 LOCATION OF BUSINESS

Our company will be located in the heart of the commercial center in ijare.it will comprises
of store, office/payment desk and information/customer care center desk.

The reason will love and choose the place because it is in the heart of the town, very easy to
locate and a popular place.

1.7 DATE OF BUSINESS COMMENCEMENT

Our date of fully commencement will be on the 1st of 12 2016 because we are still planning
our business and getting every necessary requirement to enable our business stand out among
one of the solar power distribution company in Nigeria and beyond. Also, we are in process
of registering with Nigeria electric regulation commission and gain our license.

1.8 FACTORS IN SELECTING THE PROPOSED BUSINESS

Establishing a business of your own is not easy, but if guided by business principles and
procedures, you can do it. In running and choosing a business, you need to consider the
following:

• Availability of Resources

• Market Demands

• Current Business Trends

• Good Location

• Capital or Fund

1.8.1 INCREASE OF DEMAND IN THE INDUSTRY

This is basically talking about how the consumers see your product at the first time purchase
and after using that product as well, then they demand for more of your products in the
market and in situations like this, your product rises to the top in the market and trends the
whole year or season. Consumers only demands for good products or whatever suites the
money they paid for the product and enjoyed using it afterwards and this brings profit and
attracts more customers to patronize the trending products.

The consumer will definitely demand for more of our product solar energy, because of its
reliability and affordability of our product. Our product will rise to the top in the industry
because of our financial innovation strategy, customer relationship and cost effective. Sine
there is shortage of electricity, people want electricity at any cost. The industrial demand is
high.

1.8.2 TO INTRODUCE NEW BUSINESS MODEL

The plan implemented by a company to generate revenue and make a profit from operations.
The model includes the components and functions of the business, as well as the revenues it
generates and the expenses it incurs. Also, this describes the method or means by which a
company tries to capture value from its business. A business model may be based on many
different aspects of a company, such as how it makes, distributes, prices or advertises its
products.

For Example, OSES will sell its products at a cheap price and sign up members to partake in
the membership club or offer discounts on some certain products to bring in more members
to the membership clubs and more customers to purchase our product.

1.8.3 Government Campaign

Government Campaign is basically promoting and advertising your product through the
means or help of the Government representative or the President himself. All our competitors
don't really do the Government Campaign strategy to promote their products but OSES will
do so because we also need a government project and contracts.

For example, the General Manager of OSES will sends a request of proposal to the office of
the president or any relevant government agencies asking permission for a brief interview
regarding our products. During the meeting, the President can be askt to allow our company
to install our solar power in his private residence and also to install some street light to
showcase how it work and is last longing ability. Also dealing with government will promote
our brand and attract more customers

1.8.4 CHANGES IN SOCIAL AND LIFESTYLE IN NIGERIA.

When starting a business in any Geographical area, you have to know about the culture,
lifestyle and trends of the people. Changes in Nigeria social lifestyle is growing vastly in the
past 10 years until now and new means of getting electricity comes in every season, so in
other to keep your product in the market for the many season, you have to fit in the
competition and bring the products that matches the lifestyle and demand of Nigerian and
also the price that will be suitable for both the Nigerian citizens and we the brand owners as
well.

1.8.5 HIGH RETURN AND PROFIT

High return and profit is about providing insight into how much profit is being produced per
sales of a product. As with many ratios, it is best to compare a company's returns and profits
over time to look for trends, and compare it to other companies in the industry. This helps a
company or an organization to know their stand in the Industry and making sure they are not
going bankrupt.

1.9 FUTURE PROSPECTS OF THE BUSINESS

Future prospects of OSES Company

● Potential future performance in a competitive marketplace. In other words, a company's

market prospects are the company's forecasted ability to compete in a marketplace. Both
internal and external analysts compare past company performance with current
competition and expectations of future products to develop a company's market prospects.
Market prospects can be good or bad and favorable or unfavorable.

● OSES is considered one of the building blocks for analyzing a company's future
performance. Investors and creditors are not only interested in whether the business can
survive, they want to know if the business can succeed and grow. Investors and creditors
tend to look at market prospects, liquidity, solvency, and profitability along with other
performance metrics when evaluating the future performance of a company.

1.9.1 TO OPEN MORE BRANCHES IN OTHER PART OF NIGERIA

Our future target for this business is to open many branches because currently we will only be
operating in Ijare. We plan to open one branch in other major city in the country. One branch
at all state in Nigeria, so everyone can access easily get our access to our product and
services.

1.9.2 TO PROVIDE JOB OPPORTUNITIES

We plan to start up in Ijare, and later we will establish one branch in each state in Nigeria.
Automatically we will provide job opportunity and helping people who doesn’t have a job to
work with us. We also provide some special benefit they can support their family.

1.9.3 TO CONTRIBUTE TOWARDS NIGERIA ECONOMY

Helping Nigeria economy growth is an honor for us. So, our business will pay business tax, it
will improve Nigeria economy, we also bring value back to the country currency when we
export our product to every part of the country and neighboring countries. That is the way for
us contribute toward Nigeria economy economy.

1.9.4 TO INCREASE THE NUMBER OF ENTREPRENEURS IN NIGERIA.

We will try hard to gain world awareness about our product by getting help from government.
We believe that our entrepreneur in Nigeria can be a success entrepreneur in the future. In
addition, the number of entrepreneurs in Nigeria Will increase because the risk for them to
fail in business is low.

2.0 PURPOSE OF THE BUSINESS PLAN

When start up new business, write a business plan is really an important thing to do before
execute it. It because the business plan is our guideline before operates the business. A well
prepare business plan also important to:-

 Getting Loan from Bank and Other Investor

The business plan can help OSES to get loan from bank if necessary or getting investor who
show interest to invest in the business. For example, getting loan from government agencies
or central bank of Nigeria to start up the business. The loan is used as to start up the business.

• Clarity Direction

The primary purpose of a business plan is to define what the business is or what is intends to
be over time. Clarifying the purpose and direction of your business allows you to understand
what needs to be done for forward movement. Clarifying can consist of a simple description
of your business and its products or services, or it can specify the exact product lines and
services you will offer, as well as a detailed description of your ideal customer.

• Future Vision

Businesses evolve and adapt over time, and factoring future growth and direction into the
business plan can be an effective way to plan for changes in the market, growing or slowing
trends, and new innovation or directions to take as the company grows. Although clarifying
direction in the business plan lets you know where you are starting, future vision allows you
to have goals to reach for.

• Manage Company

A business plan conveys the organizational structure of your business, including titles of
directors or officers and their individual duties. It also acts as a management tool that can be
referred to regularly to ensure the business is on course with meeting goals, sales target or
operational milestones.

3.0 Company Background

Business Address: No.14 araromi street ijare

ijare

Website/Email: OSES2015@gmail.com

Telephone Number: +2348139660373

Form of Business: sole propritorship

Main activities: Sales of solar panels, inverter batteries and service delivery.

Date of Commencement: may1st 2016

Date of Registration: 01-01-2016

Registration Number: 00000111

Name of Bank: GTB

Bank Account Number: 0124025335

4.0 LOCATION OF THE BUSINESS

4.1 PHYSICAL LOCATION

Our company location will be in ijare a remote village in Nigeria. We chose this location
because is a familiar location. We know the importance of electricity to the people of ijare.
And they can easily earn our trust. ijare is also cole to the capital city of one of the state in
Nigeria called Ondo state, by this easily we can access some of the high income earner of the
society.

Our office also is at the commercial hob of ijare where people coming to the town can see
easily locate us. Besides that, it can help us control our financial to pay monthly renting if
there will be any. The renting cost for shops is $200 per month. Because it’s a remote town

6.1. INTRODUCTION ABOUT THE BUSINESS

Olaley Solar Energy Solution (OSES) is the name of my company and the names are the
combination of my first name and my value proposition.

6.1.1. VISION

 OSES will empower African and the rest of the world’s underdeveloped communities
through the application of solar energy technologies. The company will become the
world’s leading provider of renewable energy (RE) products and services, with
projects potentially spanning all seven continents, by 2030.
 The modern world offers huge potential. More people are better educated than ever
before and scientific knowledge and technology offers solutions to most of the world's
problems. The responsibility of business is to ensure that there is economic activity
that helps the world to progress, and initiatives that address the subject of solar energy
and energy efficiency are a priority for this.

6.1.2. MISSION

● OSES will use the reliability, affordability of his product and longevity to gain
customers trust by giving them selfless services at all time.

● OSES’s business model, we aim to contribute to the sustainable development of

society and that of the environment with which we interacts.”

● OSES will us his financial innovation to reach out to far more customers in his quest
of bringing energy to every home.

6.1.3. Objectives

● The goals/objectives of this project for Olaley Solar Energy Solution (OSES)
is to be an efficient organization to implement these OSES activities and to do it in a
way that the organization is financially profitable and therefore sustainable, so that
investors have a low risk and safe investment opportunity, that customers get a good
outcome and society as a whole gets a positive impact.

● Spread widely and open more branches in the main cities in Nigeria and around the
world and cover 80% of them by the end of 2020.

● 6.1.4. Logo and Description

 • Descriptions of the logo

It’s a statement, olaley is formed from my name why the son indicate the whole process need
to do with nature and energy means electricity/light, while solution means solving the light
problems.

The product and services are reliable affordable and long lasting.
 ORGANIZATION CHARTS AND POSTION

CEO/MANAGER/FINANCIAL CORDINATOR

ADEGBOYE OLALEKAN.O

SUPERVISOR/HRM/OPERATION

CUSTOMER
CHASHIER SERVICES INSTALLER
CASHIER
ATTENDANT/
MARKETER

INSTALLER
INSTALLER
INSTALLER INSTALLER
MANPOWER PLANNING

NO POSITION NUMBERS OF STAFF

1 CEO/GENERAL MANAGER/FINANCIAL 1
CORDINATOR

SUPERVISOR/HRM/OPERATION
2 1

CASHIER
3 1
CUSTOMER SERVISE
4 1
ATTENDANT/MARKETER
6
INSTALLER
1
DRIVER

6.4 SCHEDULE OF TASKS & RESPONSIBILITIES AND SCHEDULE OF

RENUMERATION

POSITION DESCRIPTION

CEO/General Manager Make decision and Ensures that the entire department
achieves their goals

Implementation and control/ overall management of

business. Direct activities to achieve profit and return
investment.
Customer service Answer all the question the customer want to know attend
attendant/Marketer to them on time and satisfy them always.

Manages marketing of the product and sales of product

Promotion

Proper goods and service relations with customers and

manages the sales staffs.

Supervisor/HRM/Operating Manage staffs, preparing work schedules

Prepare operational activities report

Controls the maintenance of the company

Cashier Prepare purchase order, quotation and receive payments

from customers

Coordinate various office support services, including

purchasing and supply cash

Installer and driver Go to the field to install the panels and the drive will drive
the team of installers and there equipment’s to the
customer location

6.5 SCHEDULE OF REMUNERATION

POSITION NUMBER OR REMUNERATION

PERSON

CEO/GENERAL MANAGER 1 $300 Per-month

SUPERVISOR/HRM/OPERATIOM 1 $250 Per-month

CUSTOMER SERVICE 1 $200 Per-month

ATTENDANT/MARKETER
 CASHIER 1 $200 Per-month

INSTALLER 6 $100 Per-month

DRIVER 1 $100 Per-month

TOTAL 11 $1,150 Per-month

7.0 Marketing Plan

7.1 Introduction
Product specific, market specific or company-wide plan that describes activities involved in
achieving specific marketing objectives within a set timeframe. A market plan begins with
the identification (through market research) of specific customer needs and how the firm
intends to fulfil them while generating an acceptable level of return It generally includes
analysis of the current market situation (opportunities and trends) and detailed action
programs, budgets, sales forecasts, strategies, and projected (preform) financial statements.
MARKETPLACE ANALYSIS OVERVIEW
Nigeria is the most populous Nation in Africa. The country has demonstrated over 16 years of
political stability, and is governed by a multiparty democracy based on English common law.
Nigeria has posted an average annual economic growth rate of 8.64% over the past ten years;
however inflation currently lingers at 8.4%. Nigeria’s GDP is expected to grow at 5.94%
annually through 2015. Petroleum is the nation’s primary industry, accounting for more than
35% of its GDP, and employing over 40% of its workforce directly or indirectly. Only 50%
of Nigeria’s population live in urban areas, meaning that the country’s 80 million out of 167
million people are widely dispersed over an area more than twice the size of California.
Between 1999 and 2014, demand for electricity in Nigeria grew at an average annual rate of
10.2%, a trend that is expected to continue. Over 75% of Nigeria’s electricity consumers are
served by hydroelectric power, and the country experiences generation shortfalls during
drought conditions. Almost all of Nigeria’s electricity usage is confined to its urban areas.
Ijare is a remote farming community in the south-western corner of Nigeria, about 50
kilometres from the western shore of Niger Delta, The region experiences two dependable
rainy seasons per year, and receives an annual average of about five peak sun hours per day,
roughly 10% more than Denver, Colorado.
About 50,000 people/ households, live in this region, which is situated on a wide, sloping
ridge at an elevation of 1,650 meters (5,400 feet) above sea level. The prominence of this
ridge above the surrounding plain leaves it exposed to the tropical trade winds, which
consistently blow from the west. There are few regions in the world that boast such abundant
RE natural resources. The average yearly income is about $2,500 per family, and, though this
is strikingly poor by western standards, Ijare is one of Nigeria’s historical rural communities.
The Investment Opportunity
The energy industry is a major area for investment, and policy makers in the Nigeria and
elsewhere are looking to this sector to be the driver of future prosperity. The basic economics
of energy and developments in technology are making the area of Solar Energy System
Installation and Energy Efficiency Retrofits increasingly attractive. OSES is positioned to
grow in this segment of the energy market.
Sector studies show the vast potential of this segment of the market. Some well-known
investors including Warren Buffet & Texas Solar Power Company have make long term
investments in the sector.
But the studies do not explain why the growth of that sector has been quite slow relative to
the potential. Our financial analysis suggests that this is because there are mismatches
between the needs of the consumer and the structure of the suppliers of the systems and the
financing. The OSES project addresses this constraint.
7.2 Marketing Objectives
●To Increase sales
●To Improve awareness of the company and product
●To build customers base
●To satisfy customer needs and turn customer need to want

7.3 Product and Service Concept

OSES will immediately specialize in providing electricity and electric services for rural
communities, and will utilize two different business strategies to distribute power.
First, OSES will sell solar electric systems for home and commercial applications by
allowing customers to finance the cost of these systems over time.
Second, the company will offer end-user services direct to customers by establishing
electrified community canters in the heart of their villages. At these canters, people will be
able to purchase services ranging from crop processing to refrigeration to
telecommunications access to internet browsing.
The very first inventor of the first active solar motor which was invented in 1861 was
Auguste Mouchout.He assumed already then that fossil fuels have their limits, and he started
to question society the widespread belief during the Industrial Revolution in the 19th century
that the fossil fuels would never run out
OSES products concept to provide reliable, affordable and long lasting solar energy to a
potential customers. We are committed theme to industry by training our staffs to be experts,
by this they give the best to our customers. We will demonstrate professionalism and skills to
benefits our customers in the quality of the products we offer to the public.
7.4. Target Markets:
Our target market is based on people’s income. We classify our target market into 3 main
classes
1. High income consumers
2. Middle income consumers
3. Low income consumers.
We decided to use this classes because the market need electricity and to be able to satisfy
them we have to group them based on their income.
7.4.1. POTENTIAL CUSTOMERS
AGE RANGE GENDER ECONOMICE FAMILY
STATUS

0 to Working Male &Female Lower income Single &

class/university class Married
student/whoever
To middle
100 is interested
income class

And high
income class

Our potential customers are:

●Teenagers and youth age range from 0-100.if you are a reason to purchase you are our
customer
●Working class people age range from any age
●Wholesale customer, if there is any
●Gender – Male & Female
●Economic Status – Lower income class to middle income class and high income class.
●Family Status – single & married
7.4.2. Market segmentation
 Target No of Purchase COST Price per Monthl Monthl Yearly
market custome per month PRISE package(RM y y sales purchas
r PER ) purchas value e
PACKAG e
E 40% sales
increase From
(RM)
supplier

High 1,000 10package 3000 4200 30,000 42000 360000

incom s
e

Middl 3,000 15package 2000 2800 30,000 42000 360000

e s
incom
e

Low 6,000 20package 400 560 8,000 11200 96000

incom s
e

Total 10,000 50 5400 7560 68000 818000

packages

7.5. Market Size

A share classification structure based on the number of shares outstanding this determines the
number of shares that a market maker can trade at the quoted price.
Buying or selling in amounts above the set number of shares requires price negotiation with
the market maker. The Market Size system reduces the effect a market maker's trading
activity may have on the share price of a stock that has shares outstanding in the low
thousands. The number of buyers and sellers in a particular market. This is especially
important for companies that wish to launch a new product or service, since small markets are
less likely to be able to support a high volume of goods. Large markets could bring in more
competition.
Target Market Population Population Potential No. Of customers
(%) customer (%)

High income 10 1,000 100 1,000

Middle income 39 3,000 100 3,000

Low income 46 6,000 100 6,000

Others 5 600 100 600

Total 10,600 10,600

7.6. Competitor Analysis

In marketing and strategic management is an assessment of the strengths and weaknesses of
current and potential competitors. This analysis provides both an offensive and defensive
strategic context to identify opportunities and threats.
7.6.1 List of competitor
Below is the list of competitor names.
1. PHLEMIN INTEGRATED GLOBAL LIMITED
2. ENERGY EXCELL SYSTEMS AND SOLUTIONS LIMITED
3. SOLAR WORLD L'AFRIC LTD
7.6.1.1 Company A
Phlemin Integrated Global Limited
Description
Phlemin Integrated Global Limited (Phlemin Global for short) is an indigenous energy
solutions provider with specialties in comprehensive power services. They have been
supplying and installing inverters, batteries, UPS etc, since 2008. We have a reputation for
delivering quality products at superior value and offering excellent services.
Phlemin Global is a major distributor of Tripplite products in Africa. Tripplite
(www.tripplite.com) is a power protection company with head office in Chicago USA,
established in 1922, and major competitors of APC and Liebert-Emerson.

Their product range includes:

Inverters
UPS systems
Deep cycle batteries (12V 200AH)
Inverter-Type Air Conditioner (DC AC)
Solar Energy Solutions (Residential, Heating, Water Pump, Streetlights etc)
Data centre equipment (Racks, Power distribution units, KVM Console etc)
Surge Protector (to protect your appliances against electric surge)
LED Lights (security/perimeter lighting)
Our range of backup systems are cost-effective, simple to use solutions against black-outs
and power fluctuations designed to provide uninterrupted power while you are working at
your office or relaxing at home without you noticing a change in power source.
7.6.1.2. Company B
Energy Excell Systems and Solutions Limited
Description
Energy Excell Systems and Solutions Limited is a renewable energy company delivering
sustainable energy and power solution across various sectors of the economy covering
Telecommunication, Hospitality, Real estate, Health care and Government.
We have grown in an unprecedented manner to have a portfolio of sustainable energy
solutions and a range of services to meet the demand from the industrial public, and
commercial sectors on every scale.
Our phenomenal growth is as a result of research based background and the can-do attitude
driven by the leadership of our erudite management team, dedicated team of engineers and
professionals, commitment to research and development, customer satisfaction and efficient
after sales support for our customers.
We have built an unmatched specialty in the professional application of Renewable energy
(Wind, Solar, and Hydro and Geothermal energy) and power electronics, covering design,
installation, maintenance, procurement and consulting.
Our team of engineers are competent, qualified, trained and well-motivated to meet and
exceed your expectations at all times.

7.6.1.3. Company C
SOLAR WORLD L'AFRIC LTD
Description
Award Winning solar energy company in Nigeria, importers, wholesalers/retailers and
installers of solar street lights, inverters both hybrid and stand alone, solar refrigerators,
panels, LEDs (lamps), solar batteries, garden lights etc. we supply the best quality products at
the best affordable prices and deliver anywhere in the country within 48hours. Excellence and
customer satisfaction is our watchwords.
7.6.2. Competitor strengths and weaknesses
Phlemin Integrated Global Limited
Company A
Strengths Weaknesses

Cost effective No research and development

Simple to use Awareness is low

Provide un interrupted power supply Online presence at is weak

Advertising is very poor

Company B
Energy Excell Systems and Solutions Limited

Strengths Weaknesses

Research and development No training program

Efficient follow-up with customer Very expensive

Company C
SOLAR WORLD L'AFRIC LTD
Strengths Weaknesses

Customer satisfaction Awareness is low

Fast delivery system Advertising is weak

High brand value

7.6.3. SWOT ANALYSIS FOR MY OWN COMPANY (OSES)

Strengths Weaknesses

1. New, innovative service; financial 1. Lack the financial power to be an

innovation, through this people early leader in the industry
who do not have enough money to
2. No diversification; our company
finance their solar power will be
is only base on solar energy.
able to finance it. Through this
There is no diversification to
every home will have solar energy.
other energy source at the
2. Vast Internet marketing moment.
knowledge; we know the
3. Lack of market place experience
importance of online marketing
and we will use it to capture and 4. No existing demographic or
retain our customer psychographic data for our
company.
3. Reliability, affordability and
longevity of our product will be a
strength for us

4. `Introducing the use of

membership card to the system will
attract more customer to us and
increase our strength in the
industry.

Opportunity Threats

1. Fairly new market—possible 1. New regulations; government

opportunity to become industry regulations may be challenging at
leader some point.

2. Create valuable mobile apps 2. Competitors with better brand

3. Getting incentives from
government is an opportunity for
our company to strive in the
industry
recognition.
3. Competitive pricing between
(OSES) and other competitors
 4. Joint ventures with investor inside 4. Competition with new, innovative
and outside the country. product or service in future

5. Rebate is available from 5. New, unrealized competition

international organization

6. Early possibility of local business

clients

7.7 MARKET SHARE

Market share is a company’s percentage of in a particular industry. Both increases and
decreases may affect profits, so managers typically adjust operations and marketing strategies
to increase or decrease it as needed. It also can be known that market share is a percentage of
an industry or market’s total sales that is earned by a particular company over a specific time
period. Marker share is calculated by taking the company sales over the period dividing it by
the total sales of the industries in the same period. This method is use to give a common idea
of the size of a company to its competitors.
Out of total purchases of a customer of a product or service, what percentage goes to a
company define its market share. In other words, if consumers as a whole buy 100 of shoes,
and 40 of them are from one company, that company hold 40% market share.
Market share increases can allow a company to achieve greater scale in its operations and
improve profitability. Companies are always looking to expand their share of the market, in
addition to trying to grow the size of the total market by appealing to larger demographics
lowering prices, or through advertising.

7.7.1 Marketing share before the entry of your company.

There is no know market share before our company, because there is no such business in the
region before us. Solar energy is new to ijare people.
7.7.2 Adjusted market share after the entry of your company.
Our company gain market share and we are aiming at 100% this is because our strategy is
quite Unique and it will attracts a lot of customers

Competitors Percentage ( % )
 Phlemin Integrated Global Limited No presence in ijare market and 0.3% in Nigeria market

Energy Excell Systems and Solutions No presence in ijare market and 0.5% in Nigeria market
Limited

SOLAR WORLD L'AFRIC LTD No presence in ijare market and 0.8% in Nigeria market

TOTAL 1.6% of Nigeria market

MARKET RESEARCH
We have interactions with some of our target customers and we discover all this needs from
them. This interview was done through a phone call to the people in ijare. We got response
from 30 people over the space of 1 months.
The people in ijare dream of uninterrupted power supply.
We discover that the awareness of people in ijare is very low about solar energy.
People living in Nigeria are ready to pay any amount to get uninterrupted power supply
Some people said they will need a proof before they can put their money on it.
Some are afraid of the financing.
While most people said if we can guarantee them it will last long they are ready to purchase.
THE VIEW OF THE POTENTIAL CUSTOMER IN THE MARKET
 ijare people's view on solar energy

0.5
1

2 6.5

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

EXPLANATION OF THE CHART ABOVE

The region with 6.5 which represent 59% of the total of people interviewed are the one that
are ready to purchase if guaranteed it will be reliable and last long.
The 2 which represent 23% are the people who said they are interested but have problem
about financing it.
1 Which represent 10% are the people who are ready to pay any amount at any cost to get
stable electricity.
The remaining 0.5 which represent 8% want a proof before they pay for solar energy

MARKET SURVEY

survey

65%

15% 10% 5%

support financial innovation they can pay any amount they need proof they do not trust it
for light

EXPLANATION OF MY MARKET SURVEY

With my market survey I discover that my innovation will meet the need of the customer.
During my market survey I was able to distribute questionnaire and I got some feed backs.
65% of the feedbacks said they want financial innovation, while 15% said they can pay any
amount to get electricity.10% said they do need proof that the solar energy actually works.
The rest 5% said they do not trust the system.
Consumers will welcome the innovation and they will respond well to it.
The feature that are particularly important to the customers is the reliability, affordability and
long lasting of the product/services. They want to be sure of what they are buying. They need
energy but a stable one.
I strongly believe the market can trust us.

7.7 Sales forecast.

Our company intends to gain 30% market share of the total market share after entering the
Nigeria solar energy market.
We believe as people are getting more awareness there will be increase in demand, but our
labour force can only install 60packages in a month. After we intend to follow the same sales
forecast throughout the first year. After our annual general meeting at the end of first year we
will definitely increase our labour and improve sales.

7.8 Marketing strategy

7.8.1 Product/ service strategies
OSES will immediately specialize in providing electricity and electric services for rural
communities, and will utilize two different business strategies to distribute power.
First, OSES will sell solar electric systems for home and commercial applications by
allowing customers to finance the cost of these systems over time.
Second, the company will offer end-user services direct to customers by establishing
electrified community canters in the heart of their villages. At these canters, people will be
able to purchase services ranging from crop processing to refrigeration to
telecommunications access to internet browsing.
OSES products concept to provide reliable, affordable and long lasting solar energy to a
potential customers. We are committed theme to industry by training our staffs to be experts,
by this they give the best to our customers. We will demonstrate professionalism and skills to
benefits our customers in the quality of the products we offer to the public.

7.8.2 Brand
Olaley Solar Energy Solution (OSES) our brand name, we are bringing energy solution to the
customer.

7.8.3 Quality
We have reliable product and our product are long lasting. Also our services are of high
quality
7.8.4 Design
We have movable product. And are design in a way that can be installed by the consumers
7.8.5 Packaging
Our company product is design with our brand name on the packaging. Its bold and easy
description of our product is on it.

7.8.6 Labelling
OSES use a simple labelled and not too crowded on the packaging so that it will not look so
messy can simply attract new customer.
7.8.7 After sales service
Our company also give a voucher to customers that purchased more than $1000 in any of our
shop and also free delivery to those that purchase online. If there is any damage of product
purchase, customer can switch to a product with a receipt within our warranty period of 1
year. We also provide a social media such as Facebook, and Instagram for customer to give
comment and feedback about our product and services.
7.9.2. Price Strategy
7.9.2.1 Cost-based pricing
We tried to sell our product with a competitive price without reduce the quality of the
product and also through our financial innovation, so that everyone can afford to purchase it.
Our company tried to balance the different between the class and the middle class citizen

7.9.2.2 Value-based pricing

We also have some expensive product for the high class citizen.
7.9.2.3 Competition-based pricing
Our company uses marketing penetration strategy in other to capture the middle class citizen.
Everyone can afford to buy and use OSES product.

7.9.3 Place/Distribution Strategy

7.9.3.1 Direct to consumer
We have a deliver service which are well experienced to deliver to your product to you
location by login on to OSES.com also through our Facebook or direct booking.
7.9.4 Promotion Strategy
A customer will be rewarded for bringing another customer to us, depending on how many
they can introduce there will be reward for them.

7.9.4.1 Advertising
To advertise our product, we use various media,
Facebook, or Instagram (links or and Newspaper) Flyers, outsourcing,
Face to face service (sale agent) by distributing brochure to public.
Extension service will be crucial to our product/service.

7.9.4.2 Sales promotion

 We have Muslim celebration Sale, Easter Celebration Sale and Member Day/ Christmas
sales.

●Membership Card.

7.9.4.3 Public relation and publicity.

To sustain long in business, we need to have a very good relationship with our customers and
retailers. Our staff had been trained on how to maintain our public relations with our
customers, retailers and potential buyer.

7.9.4.4 Personal selling:-

To attract new customers and buyers and make our customers being loyal to our product, we
act professionally when persuading customers to purchase our product.
8.0 OPERATIONAL PLAN
8.1 Introduction
Operational plan is a plan prepared by a component of an organization that clearly definers
actions to support the strategic objective. Operation plan is important because it has a
function on every operation. Besides that, this important for managers and workers to know
the flow of each operation function, so that everything will run smoothly without having a
serious problem.
On other than, in order to ensure that the business will meet the customer expectations and
satisfaction the operational plan must arrange or organize in systematic and proper manner so
that the function will be more effective.

8.2 Operation Objective

Our operation objective is:
●To ensure all of our customers get their best products and services at all times.
●To provide an affordable, reliable and long lasting as well as efficient service.
●To give price in affordable way to customer so that they will feel worth and value.
●To ensure our products and accessories as well as service will be keep updating to fulfill
customer needs and want.
8.7.4. LIST OF SUPPLIERS for EQUIPMENTS/MATERIALS
SUNTECH BE UNLIMITED (no matter where you are, together we green the future).it’s a
solar power company based in Germany.
It is one of the best in Germany and is has been in existence over 10years.germany is the
highest user of solar energy in the world, that is one of the reason we choose them
TEXAS SOLAR POWER COMPANY (TXSPC) specializes in the design and installation of
renewable energy systems. They provide an alternative, sustainable power source for
residential, commercial and government clients. TXSPC offers outstanding service using high
quality products delivered at competitive prices.
AKON LIGHT UP AFRICA: This is a company set up by an African America who want to
want to bring electricity to 600 million Africans. The company has been established in 5
African countries already. One of the company aim is to partner local establishment lime ours
to be able to accomplish his dream.
START UP MATERIALS AND COST
This is the table showing the equipment’s needed to start up my solar power business.

Start-up cost Fixed cost Variable cost

Solar Panels Set 1 5 packs. 50000
Solar Panel Set 2 10 packs. 40000
Solar Panel Set 3 5 packs. 2000
Furniture’s 5000
Office Equipment 30000
Registration of 400
Company
Insurance 1000
Utility 1000
Marketing 5000
Staff Trainer 1000
Delivery Van 10000
Salaries 1year 7500
60900 92000 Total = 152900

SUPPLIES NAME OF THE ADDRESS

COMPANY
Sets of solar power SUNTECH BE Germany
equipment
UNLIMITED

Set of solar power TEXAS SOLAR POWER Texas United State of

equipment COMPANY America

(TXSPC)

Grants and solar power Akon Light Up Africa USA, Mali, Senegal
equipment

8.11.1 Business Hours

Below are the business and operational hours for the OSES will be operate everyday starting
from 9am to 5pm. All employees and managers will be at office at 9am until 5pm daily.
Day Time Close
Monday 9am 5pm
Tuesday 9am 5pm
Wednesday 9am 5pm
Thursday 9am 5pm
Friday 9am 5pm
Saturday 9am 5pm
Sunday off day

8.11.2 Operation Hours

The Following shows the operational hours of the company, the operational hours normally
starts from 9am until 5pm because the business hours if from 9am until 5pm. All customers
are welcome to our company daily except Sunday for the purchase of their favourite
products.
Day Time Close
Monday- Saturday 09:00AM 5:00PM
8.12 License, permit and regulation
Most business need to comply with various government regulations to operate. In that case
we will get license to run our company together with permits by following rules and
regulations of the Nigeria government.
For example:
●We will register our company under NERC (Nigeria electricity regulation commission)
●Nigeria energy commission
●Signboard license

8.14 Implementation Schedule

The project implementation schedule is a chart that clearly lists all the tasks necessary to
complete the project and related deadlines. This schedule is the most important part of
planning because it will become the tool to use for the monitoring and evaluation phases of
the project. We have listed all the tasks required for the implementation of the project. We
take the list rank over task according to their important. There will be tasks that need to be
concluded order to start another tasks and tasks that could be done in more flexible way. We
highlight the urgent tasks and visually connect tasks that require the completion of a previous
task to start. At this point we can transfer out list into a table, which will clearly start the
timeframe for each task to be completed.
8.14.1 The Importance of Project Scheduling
To organize and complete our project in a timely, quality and financially responsible. We
need to schedule project carefully. Effective project scheduling play a crucial role ensuring
project success. To keep project on track, we set realistic time frames, assign resources
appropriately and manage quality to decrease product errors. This typically results in reduced
cost and increased customer satisfactions. Important factors include financial, documentation,
management and quality assurance.
8.14.2 Project Implementation Schedule
ACTIVITIES DEADLINE DURATION
Choosing a business premises 1/12/2016 1 Week
Registration NERC/CAC 01/01/2017 1 Day
Application for license and 01/01/2017 1 Month
permits
Renovation of premises 07/12/2016 1 Month
Procurement of Staffs 01/01/2017 2 Weeks
Recruitment of Staffs 01/010/2017 1 Week
Date of commencement 01/05/2017 N/A

FINANCIAL PLAN.
INTRODUCTION:
Financial plan is a comprehensive evaluation summary of someone's current and future
financial state a company's financial needs or goals for the future and how to achieve them by
using currently known variables to predict future cash flows, asset values and withdrawal
plans. Corporate financial planning involves deciding what investments and activities would
be most appropriate under both the company's individual and broader economic
circumstances. It is the process of framing financial policies in relation to procurement,
investment and administration of funds of an enterprise. All things being equal, short-term
financial planning involves less uncertainty than long-term financial planning because,
generally speaking, market trends are more predictable in the short term. Likewise, short-
term financial plans are more easily amended in case something goes wrong. A financial
plan is sometimes referred to as an investment plan, but in personal finance a financial plan
can focus on other specific areas such as risk management, estates, college, or retirement.

IMPORTANT OF FINANCIAL PLAN.

A financial plan been a document that describes your current financial status, your financial
goals and when you want to achieve them, both short-term and long-term financial planning
and strategies to meet those goals. Financial plan can as well be a benchmark to measure the
progress you're making and update you plan as your goals and time frame change. It
important are enormous and are as follows:

1. It Links Present with Future:

Financial planning relates present financial requirement with future requirement by
anticipating the sales and growth plans of the company.

2. Helps in Coordination:
It helps in coordinating various business functions such as production, sales function etc.

3. Link between Investment and Financing Decisions:

Financial planning helps in deciding debt/equity ratio and by deciding where to invest this
fund. It creates a link between both the decisions.

4. Helps in Avoiding Business Shocks and Surprises:

By anticipating the financial requirements financial planning helps to avoid shock or
surprises which otherwise firms have to face in uncertain situations.
5. Helps in Proper Utilization of Finance:
Finance is the life blood of business. So financial planning is an integral part of the corporate
planning of business. All business plans depend upon the soundness of financial planning.

6. Base for Financial Control:

Financial planning acts as basis for checking the financial activities by comparing the actual
revenue with estimated revenue and actual cost with estimated cost.

7. Helps in Operational Activities:

The success or failure of production and distribution function of business depends upon the
financial decisions as right decision ensures smooth flow of finance and smooth operation of
production and distribution.

8. Helps in Investing Finance in Right Projects:

Financial plan suggests how the funds are to be allocated for various purposes by comparing
various investment proposals.

9. It Helps in Fixing the Most Appropriate Capital Structure:

Funds can be arranged from various sources and are used for long term, medium term and
short term. Financial planning is necessary for tapping appropriate sources at appropriate
time as long term funds are generally contributed by shareholders and debenture holders,
medium term by financial institutions and short term by commercial banks.

10. It Facilitates Collection of Optimum Funds:

The financial planning estimates the precise requirement of funds which means to avoid
wastage and over-capitalization situation.

THE PROCESS OF DEVELOPING A FINANCIAL PLAN:

 Financial plan been the benchmark to both long-term and short-term of individual and
company financial growth has it strategic process of development which is logically six steps
procedure:

1. Step 1: Determine Your Current Financial Situation:

In this first step of the financial planning process, you will determine your current financial
situation with regard to income, savings, living expenses, and debts. Preparing a list of
current asset and debt balances and amounts spent for various items gives you a foundation
for financial planning activities.

2. Step 2: Develop Financial Goals:

You should periodically analyze your financial values and goals. This involves identifying
how you feel about money and why you feel that way. The purpose of this analysis is to
differentiate your needs from your wants.
Specific financial goals are vital to financial planning. Others can suggest financial goals for
you; however, you must decide which goals to pursue. Your financial goals can range from
spending all of your current income to developing an extensive savings and investment
program for your future financial security.

3. Step 3: Identify Alternative Courses of Action

Developing alternatives is crucial for making good decisions. Although many factors will
influence the available alternatives, possible courses of action usually fall into these
categories:
Continue the same course of action.
Expand the current situation.
Change the current situation.
Take a new course of action.
Not all of these categories will apply to every decision situation; however, they do represent
possible courses of action. Creativity in decision making is vital to effective choices.
Considering all of the possible alternatives will help you make more effective and satisfying
decisions.

4. Step 4: Evaluate Alternatives

You need to evaluate possible courses of action, taking into consideration your life situation,
personal values, and current economic conditions. Consequences of Choices. Every decision
closes off alternatives. For example, a decision to invest in stock may mean you cannot take a
vacation. A decision to go to school full time may mean you cannot work full time.
Opportunity cost is what you give up by making a choice. This cost, commonly referred to as
the trade-off of a decision, cannot always be measured in dollars.
Decision making will be an ongoing part of your personal and financial situation. Thus, you
will need to consider the lost opportunities that will result from your decisions.

5. Step 5: Create and Implement a Financial Action Plan

In this step of the financial planning process, you develop an action plan. This requires
choosing ways to achieve your goals. As you achieve your immediate or short-term goals, the
goals next in priority will come into focus. To implement your financial action plan, you may
need assistance from others. For example, you may use the services of an insurance agent to
purchase property insurance or the services of an investment broker to purchase stocks,
bonds, or mutual funds.

6. Step 6: Re-evaluate and Revise Your Plan

Financial planning is a dynamic process that does not end when you take a particular action.
You need to regularly assess your financial decisions. Changing personal, social, and
economic factors may require more frequent assessments.
When life events affect your financial needs, this financial planning process will provide a
vehicle for adapting to those changes. Regularly reviewing this decision-making process will
help you make priority adjustments that will bring your financial goals and activities in line
with your current life situation.

9.4. FINANCIAL INPUT

Projected Administrative, Marketing and Operation Expenditure

COSTING

START-UP REQUIREMENT

Start-up cost Fixed cost Variable cost

Solar Panels Set 1 5 packs. 50000
Solar Panel Set 2 10 packs. 40000
Solar Panel Set 3 5 packs. 2000
Furniture’s 5000
 Office Equipment 30000
Registration of 400
Company
Insurance 1000
Utility 1000
Marketing 5000
Staff Trainer 1000
Delivery Van 10000
Salaries 1year 7500
60900 92000 Total = 152900

10.0 CONCLUSION
Conclusion
The day must come when electricity will be for everyone, as a water of the rivers and the
wind of heaven. It should not be merely supplied, but lavished, that men may use it at their
will, as the air they breathe.” In the beginning of our project we drew a clear picture of our
research area, which is: current situation of Nigeria’s energy sector. We were interested in
finding out how to improve the demand and supply of electricity in the urban and rural areas
of the country throughout implementation of solar energy. Therefore, this leads to our
problem formulation which is:
What are the economic and environmental costs/benefits of implementing solar energy in
urban and rural areas of Nigeria in order to support the current fossil fuel generators and thus
ensure the constant electricity supply?
During the analysis we find out that the demand for electricity is very high, however, the
supply is not adequate and constant, and thus many citizens are using privately owned fossil
fuel generators. According to our research, the use of the fossil fuel generators is very costly
and not environmentally friendly. So, we decided to look at the alternatives which would
support and improve the electricity efficiency. Therefore, this project group decided that the
Solar energy is the best solution since Nigeria is in advantageous geographical position. We
analysed the economic and environmental costs/benefits of implementing solar energy and
we reached the conclusion that the costs of electricity supplied by national grid (PHCN) and
solar energy plant is almost the same and will reduce in the long run despite the high
installation costs which could be supported via CDM. Moreover, looking from the
environmental point of view, solar energy is environmentally friendly and long lasting
compared to the fossil fuel generators.
To conclude, we can say that solar energy is capable of supporting the current fossil fuel
generators and ensure constant electricity efficiency at the lowest economic and
environmental costs.
APENDIX
PICTURE GALERRY.
PROTOTYPE