As the Nigerian population is increasing rapidly, the demand for foodstuff is also increasing and to meet up with the demand, more people are joining the business regularly. Food is a primary need that no body can survive without.
Why Start A Foodstuffs Business In Nigeria?
You might be wondering why starting a foodstuff business in Nigeria is a great idea, well check out some of the reasons below:• It is in high demand
Foodstuff is among the few products that we can't do without. In Nigeria, you'd hardly see a family that can stay without eating rice once in a day. Food is required by the human body for the regular functioning of the body organs.• It can be done anywhere
You heard me right, foodstuff business can be done anywhere irrespective of location. If you are living in the cities or rural areas, you'll still make good profit selling your products.• It can be done in any season
Foodstuff business is not like the fruit selling business that is affected by the season. You can always buy your foodstuff from the wholesalers and resale at any month of the year.• You can make profit from the business
The goal of every business owner is to make good profit and foodstuff business will help you achieve that. Inasmuch as this is not a get rich quick scheme, within a few months of running your business you'll be happy at the rate of profit you'd start counting in.How To Start Foodstuff Selling Business In Nigeria
Before you venture into the foodstuff selling business, here are a few things you need to know:
• Decide on the foodstuff you'd be selling
This is a type of business that involves selling of different foodstuff but you should also be focused on the ones that would sell better in your area. For example, some foodstuff sell better in student areas more than residential areas while some hardly sell in student areas.Other factors that would determine your choice of foodstuff include your background knowledge and the caliber of people around you.
• Your capital
This is also another factor that will determine the type of foodstuff you'd be selling. Some foodstuff require more money than others. Carefully and thoroughly make your calculations to determine how much capital you'd be needing for the business to start running.• Decide on a business location
Your location has a major role to play towards the success of your business. I stated above that your business can excel irrespective of location in terms of rural and urban settlements. Whether you'd be launching your business in a city or village, you'd still need to choose a busy place.• Prepare a business plan
Having a business plan is very important because it'll help you in keeping the business organised. Your business plan will help you in deciding the type of foodstuff you'd be selling and the amount of money you'd be needing for your business to start running.We've outlined some basic steps that will guide you on how to write your business plan even as a beginner and you can get them here.
• Set up your business location
This is the final stage before you finally get your business running. This is also very important and will help you in sorting out how to sell the different foodstuffs.You will get tables, chairs and some other things. You'll also need trays for sampling the products. We'll still list out some things that you'd be needing for your business.
• Advertise your business
As a start-up you'd need to create awareness by advertising your business before people start patronizing you.You can stat by informing your friends of your new business or by printing fliers and distributing to potential customers. You can also employ various online and offline methods of advertising that can help your each targeted customers.
• Buy the foodstuff
After setting up your store, you can now launch your business by buying the first set of foodstuffs. You can go to local markets as the goods are normally cheaper there. Also, most Eastern markets use the four market days so if you're in any of the five Igbo states, I'd suggest you study the calendar.Before buying the foodstuffs survey the market to know the differences in the prices and where to get them cheaper.
Other things you need to know about running your business:
If you intend starting in a big scale (maybe as a wholesaler), you'd be needing some other things like:• A delivery van
If you have enough capital, you should also consider buying a delivery van.It'll help you in supplying foodstuffs to hotels, eateries, restaurants, schools, food processing companies and more.As a starter, you might not have enough capital for purchasing a van but you can always hire a commercial van that would be doing the delivery for you.
• Register your business
Registering your business with the corporate affairs commission will help you have a business name. This is important if you'd be delivering to big organisations who'd want to know how legitimate you are before dealing with you. It'll also help you to have an official bank account name instead of your regular name.
• Hire employees
As your business grows, you'd want to hire employees who'd be helping you with deliveries, sales and other things. Always ensure you hire trusted individuals to avoid them stealing from you.
Also map out rules on how you want the business to be ran and ensure they stick to it. Also endeavour to compensate them properly to ensure they remain devoted to your work.
• Have a website
The world is advancing and you should also follow the trend by taking your business online. You can have a website for delivering foodstuffs online to your customers without them visiting your shop.
One major advantage of taking your business online is that you won't have to bother about having a big shop or spend millions in advertisements. With just some little sum of money you can reach thousands of potential customers.
If you need a website for your business, you can contact us for that today and we'd set it up for you at only ₦20,000. This is a ₦10,000 discount and we will be ending the promo soon.
Things You Need to Start A Foodstuff Business In Nigeria
After hiring the shop, you'd need to purchase some things for your business to start running. Some of them include:
• Floor tiles: In most cases you might meet your shop without tiles. If you have enough budget, it'll be best to tile the shops as it will help in beautifying it. Tiles are are useful in preventing ants from boring holes in the floors.
• Tables: Depending on your shop's size, you will be needing one or two tables. The tables will be used by your cashier and for displaying your products.
• Store self: Store shelves come in different types,some are made of woods while other are made of iron or aluminum. The wooden ones are the most popular and affordable. It also comes in different forms and your choice depends on the type of foodstuff you'd be keeping in them.
• Painting: Painting also helps in beautifying your shop and preventing away of ants, rats and insects from invading your shop.• Installation of lights: Lights are very important in every residential and business premises as it help in keeping the places illuminated. Bulbs are not expensive and can easily be gotten in the shops around.
• Air conditioner: Air conditioners are very necessary for keeping your shop cool and convenient. They will also help in preserving your foodstuffs from the hot African weathers. If you're searching for affordable air conditioners, you can check out hundreds of them on Konga.
• Refrigerators: Refrigerators are also very important for keeping your soft drinks and juices cool. No one would want to buy a hot Fanta in a hot weather even if they're cheaper. You can also include pure water sachets in the shop for your customers to buy when thirsty. I've checked out a list of cheap refrigerators in Konga and you can check out some of them. Konga is one of the biggest online mall in Africa and offers one of the most affordable goods.
Challenges Of Foodstuff Business In Nigeria
Foodstuff sell business is one of the best businesses you can start if you understand how it runs. The challenges I'd be listing below are not to discourage you but to guide you.Some of the challenges in the foodstuff selling business include:
• Fluctuating prices
The prices for the foodstuffs might vary due to several reasons like inflation and increase/decrease in demand. For example when the supply is higher, the prices tend to reduce and vice versa. This usually happens at the peak of the farming season and you can buy your foodstuffs then and store for later sales.
• Relying on third party suppliers
The middlemen can also be an issue in your business as you might encounter issues like receiving products different from what you ordered for. This can be devastating especially when the received product is not of a good product.
You can however avoid this by working with the farmers directly. You'll buy the foodstuffs from them and resell without involving any middle man.
Thanks for reading along, don't forget to drop us a comment and share with your friends. Before you go, also check out these 5 profitable businesses you can start without capital in Nigeria, number 3 will surely amaze you.
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