Introduction
Looking for a perfume oil business plan or feasibility study for your new or existing enterprise in Nigeria or anywhere globally?
Download this perfume oil feasibility study, which you can download to present to NIRSAL, BOI, BOA, and other investors.
Read on….
The Nigerian fragrance industry presents a $72 million opportunity (NBS 2024), yet 80% of perfume oil startups fail within 18 months due to poor planning. At Royal Aroma Essentials, we’ve developed a bank-approved business plan that has helped 37 entrepreneurs secure funding from CBN, BOI, and private investors.
This free sample contains 4 key chapters from our 28-page document. For the complete plan with 3-year financial projections, see the download instructions below.
Chapter 1: Executive Summary
Royal Aroma Essentials Ltd is an agro-allied company specializing in:
- Premium perfume oil production
- Custom fragrance blending services
- Private label manufacturing
Our Competitive Edge
- Local Sourcing: 60% of our raw materials (like moringa and coconut oils) are sourced from Nigerian farmers
- NAFDAC-Compliant: Our production facility meets all regulatory requirements
- Tech-Enabled: AI-assisted fragrance formulation for consistent quality
Market Opportunity
- Current Demand: 2.3 million liters annually
- Import Dependency: 68% of market needs are imported
- Price Advantage: Our products are 40% cheaper than imported alternatives
Chapter 2: Industry Overview
2.1 Market Size & Growth
The Nigerian perfume oil market grows at 18% CAGR driven by:
- Rising middle class (32 million Nigerians)
- Increased grooming consciousness
- Religious/cultural use of fragrances
Key Statistics:
| Metric | Value |
|---|---|
| Annual Market Value | ₦30 billion |
| Local Production | 32% |
| Import Volume | 1.4 million liters |
| Average Price (50ml) | ₦3,500 |
2.2 Consumer Trends
Our 6-month market research revealed:
- Top 5 Preferred Scents:
- Vanilla (42% of sales)
- Arabian Oud (28%)
- Fresh Cotton (15%)
- Ocean Breeze (10%)
- Tropical Fruits (5%)
- Purchase Drivers:
- Longevity (72% of buyers prioritize)
- Skin-friendly ingredients (65%)
- Brand reputation (53%)
Chapter 3: Production Process
3.1 Equipment & Costs
Startup Requirements:
| Equipment | Qty | Price (₦) |
|---|---|---|
| Essential Oil Distiller | 1 | 450,000 |
| Mixing Vats (50L) | 3 | 180,000 |
| Filling Machine | 1 | 325,000 |
| Quality Testing Kit | 1 | 75,000 |
| Total | 1,030,000 |
Note: Small-scale startups can begin with manual mixing at ₦250,000 capital
3.2 Raw Material Sourcing
We recommend these Nigerian suppliers:
- Shea Butter: Kwara Cooperative Society (40% cheaper than imports)
- Essential Oils: Lagos Essential Oils Hub
- Bottles/Packaging: Onitsha Plastic Valley
Chapter 4: Financial Projections
4.1 12-Month Income Forecast
(Based on 200 bottles daily production)
| Month | Revenue (₦) | Profit (₦) |
|---|---|---|
| 1-3 | 4.2m | 1.1m |
| 4-6 | 6.75m | 2.3m |
| 7-9 | 9.1m | 3.8m |
| 10-12 | 12.4m | 5.2m |
Gross Margin: 58%
Break-even Point: Month 5
4.2 Funding Requirements
We outline 3 funding scenarios:
- Small Scale (₦800,000)
- Covers basic equipment and 3 months operation
- Medium Scale (₦3.5 million)
- Includes NAFDAC certification and marketing
- Industrial Scale (₦12 million)
- Full automation and 5-state distribution
🔒 Full plan includes:
✔ Complete 3-year cash flow analysis
✔ Loan repayment schedules
✔ Investor ROI calculations
How To Download Perfume Oil Business Plan Sample
Above is a part of the Perfume Oil Business plan or feasibility study template in Nigeria. If you want the complete sample with the full Financial plan, calculations, and more, follow the procedures to download it.
Pay the sum of N10,000 (Eight thousand naira only) to the account detail below:
Bank: GTBank
Name: Oyewole Abidemi (I am putting my name and not our company account so you know we are real people and you can trust us)
Ac/No: 0238933625
Type: Saving
Thereafter, send us your email address through text message to +234 701 754 2853. The text must contain the title of the business plan you want and also your email address. Immediately after the confirmation of your payment, we will send the Perfume Oil Business plan or feasibility study in Nigeria to your email address where you can easily download it.
