CoolWave Ice Blocks: Ice Block Business Plan in Nigeria 2025

Introduction

The ice block business in Nigeria thrives due to the country’s tropical climate and erratic power supply, creating a high demand for ice blocks to cool drinks and preserve food. With a market value exceeding NGN 50 billion annually, the sector is driven by the need for chilled beverages in urban centers and social events. CoolWave Ice Blocks, a startup launching in 2025 in Victoria Island, Lagos, aims to capitalize on this opportunity by producing and distributing high-quality ice blocks. This article outlines a comprehensive business plan for CoolWave Ice Blocks, detailing its strategy to become a leading ice block supplier in Lagos through efficient production and strategic distribution.

Description

CoolWave Ice Blocks is a production and distribution company specializing in dry ice blocks (molded without chemicals) in various sizes (5kg, 10kg, 15kg) for cooling drinks and preserving food. Based in Victoria Island, Lagos, the company will operate a modern production facility equipped with ice block machines and a reliable generator to ensure consistent output despite power challenges. By focusing on quality, affordability, and eco-friendly packaging, CoolWave aims to serve retailers, event planners, and businesses. Our mission is to provide reliable, high-quality ice blocks while promoting sustainability, positioning CoolWave as a trusted brand in Nigeria’s ice block market.

Address

Business Address: Plot 25, Adeola Odeku Street, Victoria Island, Lagos, Nigeria
Operational Facilities: A 2,000-square-foot production facility with ice block machines, storage freezers, and a dispatch office, located near commercial hubs for efficient distribution.
Corporate Contact: Reach us at in**@*********ce.ng or via our website (to be launched).

Founder and Owner

Founder and Owner: Tunde Adekunle (60% share, CEO), a refrigeration specialist with 7 years of experience in cold chain logistics, and Amaka Okafor (40% share, Operations Manager), a business strategist with 5 years in supply chain management. Tunde holds a B.Sc. in Mechanical Engineering from the University of Lagos, while Amaka has an MBA from Lagos Business School.

Services

Ice Block Production: Dry ice blocks (5kg, 10kg, 15kg) molded in nylon bags for cooling drinks and food preservation.
Wholesale Distribution: Bulk supply to retailers, restaurants, hotels, and event planners.
Retail Sales: Direct sales through the Victoria Island office and online platform.
Delivery Services: Same-day delivery within Lagos using insulated vans.
Custom Orders: Tailored ice block sizes for events and businesses.
Value-Added Services: Subscription-based delivery for regular clients (e.g., weekly supplies for restaurants).

Price Range

Ice Blocks: 5kg (NGN 100–150), 10kg (NGN 200–300), 15kg (NGN 300–450).
Wholesale: 10–15% discount on bulk orders (e.g., 100 10kg blocks at NGN 18,000).
Delivery: NGN 1,000–5,000, based on distance and volume.
Subscription Plans: NGN 20,000–50,000/month for regular deliveries.
Note: Prices align with market rates (e.g., leadership.ng) and vary seasonally, with higher rates in the dry season.

Social Media Accounts

Twitter/X: @CoolWaveIceNG (https://x.com/CoolWaveIceNG)
Instagram: @coolwaveice (https://www.instagram.com/coolwaveice)
LinkedIn: CoolWave Ice Blocks (https://www.linkedin.com/company/coolwaveice)
Note: Social media accounts will be activated upon business launch in 2025.

Official Website

www.coolwaveice.ng (to be launched in Q1 2025) – For product details, online orders, and inquiries.

Executive Summary

CoolWave Ice Blocks is an ice block production and distribution company launching in 2025 in Victoria Island, Lagos, Nigeria, offering dry ice blocks in 5kg, 10kg, and 15kg sizes. Targeting retailers, restaurants, event planners, and households with incomes above NGN 150,000/month, we aim to produce and sell 100,000 blocks annually in year one, generating NGN 25 million in revenue. Nigeria’s ice block market, valued at NGN 50 billion, grows at 12% annually due to hot weather and power outages. Our strategic location in Victoria Island ensures access to high-demand areas and distribution hubs. We seek NGN 15 million in funding for equipment, facility setup, and marketing, projecting a 40% ROI by year two. Our competitive edge lies in reliable production, eco-friendly packaging, and a robust delivery network, positioning CoolWave as a leader in Lagos’ ice block market.

Company Description

Business Name: CoolWave Ice Blocks
Location: Plot 25, Adeola Odeku Street, Victoria Island, Lagos, Nigeria
Legal Structure: Limited Liability Company (LLC), registered with the Corporate Affairs Commission (CAC)
Business History: Founded in 2025 by Tunde Adekunle and Amaka Okafor to meet Nigeria’s growing demand for ice blocks, leveraging advanced refrigeration technology.
Mission: To provide high-quality, affordable ice blocks for cooling and preservation, ensuring reliability and sustainability.
Vision: To be Lagos’ leading ice block supplier by 2030, known for quality, efficiency, and customer satisfaction.
Goals:

Short-term: Produce 100,000 ice blocks and serve 1,000 customers in year one, achieving NGN 25 million in revenue.
Long-term: Expand to Ikeja and scale online sales to 30% of revenue by 2028.
Why Victoria Island?: High population density, commercial activity, and proximity to markets like Apapa ensure strong demand and logistics efficiency.

Market Analysis

Industry Overview: Nigeria’s ice block market, valued at NGN 50 billion, is driven by hot weather, erratic power supply, and demand for chilled drinks. Lagos accounts for 40% of national sales, with Victoria Island contributing 15% due to its commercial significance.
Target Market: Retailers, restaurants, hotels, event planners, and households with incomes above NGN 150,000/month, purchasing 50–500 blocks weekly.
Market Size: Lagos’ ice block market is worth NGN 20 billion annually, with Victoria Island’s share at NGN 3 billion.
Competitors:

Direct: Local ice block producers, De Koolar Nigeria Limited.
Indirect: Sachet water vendors, small-scale freezers.
Competitive Advantage: Reliable production with modern machines, eco-friendly nylon packaging, and same-day delivery.
Market Trends: High demand during dry season (October–April), growth in event planning, and increasing reliance on ice for food preservation.
Opportunities: Partnerships with event planners, e-commerce growth, and demand in semi-urban areas with power challenges.

Organization and Management

Structure:

CEO: Tunde Adekunle, oversees production, quality, and strategy.
Operations Manager: Amaka Okafor, manages logistics, finances, and marketing.
Production Supervisor: To be hired, supervises ice block production and equipment maintenance.
Staff: 3 production staff, 2 delivery drivers, 1 sales associate, 1 cleaner (7 total).
Experience: Tunde has 7 years in refrigeration; Amaka has 5 years in logistics.
Advisory Team: Engaging a NAFDAC consultant and Lagos Chamber of Commerce mentor.
Legal: Register with CAC (NGN 50,000), obtain NAFDAC approval for water safety, and secure Tax Identification Number (TIN).

Services

Services:

Production of dry ice blocks (5kg, 10kg, 15kg) in nylon bags.
Wholesale and retail distribution to businesses and households.
Online sales with same-day delivery.
Custom orders for events and businesses.
Subscription-based delivery plans.
Unique Selling Proposition: High-quality dry ice blocks, eco-friendly packaging, and reliable delivery.
Pricing: Ice blocks ~NGN 100–450; wholesale ~NGN 18,000/100 10kg blocks; delivery ~NGN 1,000–5,000; subscriptions ~NGN 20,000–50,000/month.

Marketing and Sales

Marketing Strategy:

Digital Presence: Launch a Shopify-based website (NGN 500,000 setup) and social media campaigns on Twitter/X, Instagram, and WhatsApp targeting Lagos businesses and households.
Events: Participate in Lagos Food Fest and trade fairs for visibility.
Promotions: Offer 15% discounts on first bulk orders and loyalty programs for repeat customers.
Partnerships: Collaborate with event planners, restaurants, and hotels for bulk supply.
Sales Strategy:
Direct sales via production facility and online platform.
Wholesale contracts with businesses.
Delivery via insulated vans for same-day service.
Customer Acquisition: Target 1,000 customers (500 retail, 500 wholesale) in year one with NGN 1 million marketing budget.

Financial Projections

Startup Costs: NGN 15 million

Facility rental (Victoria Island, 1 year): NGN 3 million
Ice block machines (2 units, 100 blocks/day each): NGN 5 million
Generator (20kVA diesel): NGN 2.5 million
Insulated delivery van (1 unit): NGN 2 million
Inventory (nylon bags, water treatment): NGN 1 million
Facility furnishing (freezers, storage): NGN 0.5 million
Marketing and website: NGN 0.5 million
Staff salaries (3 months): NGN 0.5 million
Miscellaneous (permits, utilities): NGN 0.5 million
Revenue Projections:
Year 1: NGN 25 million (100,000 blocks at NGN 200 avg., subscriptions)
Year 2: NGN 40 million (150,000 blocks, expanded delivery)
Year 3: NGN 60 million (expansion to Ikeja, online scaling)
Profit Margins:
Year 1: NGN 7.5 million (30% margin after NGN 17.5 million expenses)
Year 2: NGN 16 million (40% margin)
Year 3: NGN 27 million (45% margin)
Break-even Analysis: Achieve break-even within 12 months with 75,000 blocks sold.
Funding: Seeking NGN 15 million loan from Bank of Industry at 10% interest, repayable over 4 years, or investor equity (20% stake).

Growth Strategy

Year 1: Establish operations in Victoria Island, focus on retail and wholesale, and build online presence.
Year 2: Scale production to 150,000 blocks, add a second van, and expand subscriptions.
Year 3: Open a second facility in Ikeja, scale online sales to 30% of revenue, and explore neighboring states.
Sustainability: Use eco-friendly nylon bags and solar-powered generators (NGN 1 million investment).
Training: Offer workshops for aspiring ice block producers to boost brand visibility.

Notes

Data Sources: Market data from dekoolar.com, samphina.com.ng, leadership.ng, and X posts. Pricing aligns with industry standards (e.g., NGN 100–300 per block).
Challenges: High fuel costs, NAFDAC compliance, and competition from local producers. Mitigation includes solar adoption, regulatory adherence, and branded packaging.
Legal Requirements: Register with CAC (NGN 50,000), obtain NAFDAC approval, and secure TIN.
Recommendations: Source machines from De Koolar or Jiji (NGN 300,000–2 million), use Shopify for e-commerce (NGN 500,000 setup), and leverage Lagos Food Fest for exposure. Monitor trends via Nigerian Beverage Association reports.

Conclusion

CoolWave Ice Blocks is poised to thrive in Nigeria’s booming ice block market with high-quality production, eco-friendly packaging, and a strategic location in Victoria Island. Our focus on reliability, affordability, and digital engagement will drive growth and customer loyalty. Contact us at in**@*********ce.ng or visit www.coolwaveice.ng (to be launched) to invest or partner in shaping Nigeria’s ice block supply future!