The Chief Executive Officer of Tobaino Foods, Miss Oluwatobi Florence Quadri, is a 24-year-old, First Class graduate of Micro-Biology of the Obafemi Awolowo University. In this interview with Chima Nwokoji, she reveals how the need for students to snack on something while attending lectures inspired her to start producing different kinds of nutritious snack. She also shares inspiring thoughts about entreprenership.
What is it that inspired you to start Tobaino foods as an undergraduate?
I saw the need to start a business while I was in school. In school we move from one Lecture Theater to another. Some days, it starts from 7am and lasted through the day. I saw that people are always looking for something to chew while on the go. Most times we had general courses that attract as much as one thousand people. So, I thought that one can actually start selling something that the students can chew while going up and down for lectures. I remembered I had earlier learned how to make peanut burger and in that campus there was nothing like that. I love groundnut a lot so I did a little quantity of Floxynut Burger and people bought everything because it was cheap at N20 per pack. I then knew this was an opportunity to solve a problem. I can tell you that though Nigeria is the largest producer of groundnut in the world, the product is underutilized. So, I was inspired to use groundnut to solve a problem of hunger in my class when students are not able get out to eat.
Shell rejected me as fresh graduate, I rejected them years after —Awodeyi
How did you get your start-up capital and how much was it?
I started with N5,000 in my second year in the university. I had my gas cooker but needed some other items for processing and packaging. I had a guy that was interested in what I was doing so he wanted a partnership and brought in N4,000. We shared profit equally but I was virtually doing everything. So, at a point I felt I can do something bigger. He did not see the same bigger picture. After a year, I felt my business could go global. I withdrew from the partnership, returned his money and paid him a 100 per cent return from our profit. In the beginning, we did not have a name, but at this point I registered Tobaino Foods and became more strategic.
What is the number of your employees and how do you pay them and still make profit?
I used part of my pocket money to start small. When I started, I was doing everything by myself. But when I needed to supply some retailers in Ile-Ife outside the campus, I employed 4 students to assist me and I paid them based on commission. There was no formal training for them but now, I am trying to work on proper structure where job roles will be properly defined. My profit margin was 40 per cent when I started because I was producing in small quantity. I re-invested part of the profit to grow my capital and used part of it to take care of my school activities.
When your parents realized that you have a business, did they stop sending you money as a student?
My parents did not stop giving me money. My mother and my brothers were my sponsors because my father died before I gained admission into the university. I started school in 2015 and started my business in 2017. My mother knew that I had a business in school, but still sends much money as she could tome. She never discouraged me. My venture was a way of assisting and reducing the burden of sponsorship on the family. The idea was to multiply the money they send to me. At my 400 level in the university, I had gathered a reputation as a business woman in my class.
How did running a business affect your academic activities?
Honestly, it was difficulty but it did not affect my studies. I was one of the most enterprising students. I was part of the electoral committee in my department, the group co-coordinator of my project research group and assistant class representative. I discovered that I can be multi-tasking in the course of running my business, because I still performed well in class and took up leadership positions. I was the financial secretary of the faculty of science in Obafemi Awolowo University. The faculty comprises of eight departments which means I kept records of funds of over three thousand students. I collect annual dues and issue receipts. At the end of the day, I give account to appropriate authorities especially the department’s representative council. In 2017, I registered my business name as Tobaino Foods and made up my mind that I was going to start applying for grants. I applied for so many grants, but never won. That did not stop me because I don’t like giving up. I know that success don’t come easily. My watchword is don’t give up.
What are your expansion plans and where do you expect to get the funding from?
Yes. My expansion plan is to establish a mini factory and increase production so that I can start supplying different distributors starting from South West region. I need to produce and get more market share. I also want to improve on the branding so that more people will get to know Tobaino Foods especially the Floxynut burger. The Tony Elumelu Foundation grant application is a competition among entrepreneurs across Africa. I am excited because I applied in 2017 but did not get it. It was like a competition among twenty four countries. I applied because I have a bigger picture. I am looking at how to make my contribution towards reducing farmers’ post harvest loses. There is no storage facility for farmers and this affects their income. So, back to my expansion plans. In 2019, I got the Tony Elumelu foundation grant. I will use the money from Tony Elumelu Foundation to start the expansion journey.
The Food and Beverages sector is competitive. How do you intend to withstand competition?
My competitors are there to push me into more innovative ideas that results in something new. They are there to push me to apply my creativity in order to stand out. I don’t see them as a threat because everyone will always have a market share. All I need is a unique selling proposition. For example, I monitor my competitors so that I can know where to come in. Some products that share the characteristics of my Floxynut Burgers use only coconut flavour. Because Tobaino Foods does not have enough funds yet to compete with such big players, I bring in different flavours. I design creative ways to use peanut in producing unique range of snacks. I have other ways but please don’t let me reveal all. I intend to survive competition by value addition, making my products affordable and applying best customer service.
Why did you choose this line of products out of many?
I chose this line of product because I love foods. I love drinking processed cassava (Garri) with groundnut. Growing up, I usually felt disappointed each time I buy groundnut to drink Garri only to discover that the groundnut was spoilt. I have passion for good food. Food is really important. You know that if any country can solve the problem of food insecurity, half of that country’s problem is solved. So, today I have 6 items in my product line. They are: Floxynut Burger Snacks, Flo Plantain,and Potato Chips, Cashew Nuts, Flo Cookies and Beans Flour.
With all these activities, you still made first class. How did you pull this through?
I think the secret is knowing what you want early enough. That way, you write down your goals and pursue them. I wrote in my diary that I have the spirit of excellence, which means that I can actually perform better and that there is no limit to what I can do. I knew from the beginning that I needed a first class. I was the best science student in secondary school. I wanted to study medicine but after waiting for 3 years without getting admission, I opted for Micro-Biology hoping to change my course later on. So, since that was my 4th UTME (Jamb), I said why dont I take up this course and get a first class. When I started my entrepreneurship journey, I knew I had to manage my time well because there is time for everything. I knew my study pattern so I maintained it. The least grade I got was in first year when I was still trying to adjust to the school system. So, I was able to combine entrepreneurship and academic activities because I set reasonable and realizable goals with ability to manage my time well. After lectures, I went to market, produce and study every day.
What are your challenges?
Well, I would say funding and unfavourable government policies. For example, in terms of policies, there is over taxation of businesses. There is a lot of bank charges to pay. I have internal and external challenges. For the internal, I have the challenge of funding and difficulty in getting the right and dedicated team. Some of the employees work a little and start looking for another job. Another challenge is gaining the trust of new customers who believe in the established brands. Yet, it still boils down to funding because with sufficient funding, Tobaino Foods can grow to command brand loyalty. In terms of external, power supply is another big challenge. You know the power supply situation in Nigeria. Businesses spend extra amount in running generators. This adds to overhead costs.
What is your advice to students and young graduates whose intention is to finish school and look for jobs. What about those who say they want to be on their own but have no money?
First, we should know that everyone cannot be an entrepreneur. It is hard and risky because security is not guaranteed. There is insufficient insurance for entrepreneurship. Anything can happen and one can lose all the money and go bankrupt. What is needed is the character of an entrepreneur. They include: Ruggedness, agility, resilience, the spirit of perseverance or not giving up. There should be much dedication and conviction that it must work and readiness to put in time.
Specifically, my advice to young graduates and students is that they should first acquire the relevant skills. They should know that certificate is not enough because so many people have that. Above all, I advocate for good academic performance. Being a first class graduate thought me a lot. It thought me that I can focus on one thing and achieve it. A good academic performance is a result of dedication, preparation, commitment and focus. You need all these to succeed in your entrepreneurship journey. If you are performing well, you are already training yourself.
For students whose intention is to graduate and look for jobs, I would remind them that 85 per cent of the jobs that would serve the next generation have not been created. There is no job anywhere. That is why start-ups or SMEs are doing their best to create more jobs in their own little way. If I employ up to 5 or 10 people, and another entrepreneur employs 10 people, we would be helping in reducing unemployment. So, if you know you want to run a business, start small now. Know your innate talent. Take short courses. Some of them are free. Do not use your data to remain on Instagram and watch movie all day long. There are platforms online where you can take short courses and get certificate for free. Add value to yourself. We are in computer age, so get the necessary computer skills.
You have nothing to lose. You can do start by buying items and re-selling them. Look for a need and start meeting that need or solving the problem. That is actually how most businesses arise. It is all about creating and delivering value. It cuts across. Just think outside the box and discover your passion. You could actually be an event planner, mini caterer. The issue of personal training can not be over emphasized. If I want to employ someone for instanWce and the person does not have computer skill, I do not have the fund to start training that person. That is what makes you employable. Before starting Tobaino Foods, I had learned graphic design. I was designing logos for people and getting paid. So, when I started Tobaino Foods, the money I got from graphic design, I also invest in my main business.
In terms of start-up capital, there are many ways to start a business. You could borrow money from friends and relations telling them what you need it for and when you hope to pay back. That way, you stand better chance to test the idea before looking for bigger money. You also need a mentor. If you are humble enough, you can rise faster under a mentor. I have different mentors. Some interact with me face to face and some I read their books. One of my mentors has 20 years experience in business strategy, so I leverage on that experience. Its not just the money, we also need the knowledge. We have losers and winners. The business world is a war and you go in to win the war.