Food is one of the basic needs of man. There’s no passing day you don’t eat at least once a day. We buy these foodstuffs from people that sell them.
Suppose you’re in dire need of a foodstuff and your foodstuff vendor isn’t there anymore. You’ll feel so frustrated, right?
That’s how the foodstuff business is very lucrative. Even if every other business fails, it can’t due to the population growth.
How To Start Food Stuff Business In Nigeria
Dr Akinwumi Adesina said, “By 2030. The size of food and agric business in Africa will reach £1 trillion. So if you are thinking of how to make money, that is the sector to be in”.
Foodstuff is demanded daily and there are sure sales whether at home or in the marketplace. The aims, goals, and objectives of your business should be planned. It’s also here you determine the size of your business.
If large-scale, you’ll need to make arrangements for delivery trucks and the registration of your business. It’s a decision you won’t regret you made.
Hop along as we learn some other how-tos in this business.
The foodstuff business doesn’t require much money for a start. The money at hand determines the size of your business. For as low as 5,000 to 10,000, you can start a small-scale business by buying 1-5 bags of cereals or grains and selling them in painters or cups.
If you have about N50, 000 – 500,000, you can venture into wholesaling your niche of foodstuffs. You can buy directly from farmers or the north and sell wholesale.
The good thing is that, whether wholesale or retail level, you’re sure to make maximum profit. Ensure your capital is intact and not touched.
As you progress in the business, set aside some amount for running the business.
Take a market survey and choose your niche
This should have been in your plan. Here, you decide on the foodstuff to delve into. You can choose some related foods like beans, rice, millets, garri, corns, tomatoes, and crayfish.
You may just base on processed foods like Okpa, corn flour, flour, garri, etc or you can sell just baking materials.
You should make your choice early and make inquiries about them. This helps you know the accurate capital. Another thing to consider is your niche.
If you deal in highly perishable foodstuffs, they should be sold as soon as possible to prevent spoilage and to be sold fresh. This is why you should study the demand for a particular foodstuff in your area before making a choice.
Know the most demanded foodstuff and go for it. If possible you can take a market survey personally and work with your result.
Part of this survey could be to know seasonal foods so you could budget for them and pay when it is harvest season.
This is a smart and profitable move, right?
It’s here that you know the amount of foodstuff you can afford and how much you can sell to your potential customers.
Rent a shop and get the necessary equipment needed
To say you need a well-developed shop before starting your business is exaggerating. You just need a table, bowl, cups, containers, basins, tray, and others set in the right place.
You need to do is to choose a location inside or outside the market. The good thing is that it thrives anywhere.
Select an area that has a high potential for high market demand and situate it there. Don’t forget to have a chair for customers to feel relaxed while in your shop.
Know your customers
In busy and developed areas, residents go for more cereals or tubers than soup items. This is because the former are easier to prepare than the latter. In Akwa-Ibom, you see more hand-peeled melons than machine peeled.
Study your items and know which are in high demand. If you stay along an eatery, you’ll need to sell more soup items and spices. Don’t purchase the less-demanded.
Below are some things to consider when starting a foodstuff business:
Buy in Bulk and from the right place
Persons who have orchards around them can get fruits at a cheaper rate. Buying from them helps you realize a high-profit margin. Buying foodstuffs directly from farmers, helps you buy as many bags as possible at a cheaper rate.
Make inquiries about places where you can buy foodstuffs cheaper. You can go to villages, north or south, depending on what you’re buying.
Work with suppliers that supply good quality foodstuff at an affordable rate. This way, you save the stress of restocking by yourself.
It’s important you buy in bulk. Buying in units is costlier than buying in bulk. Okay, let’s try this. Try buying a bag of rice than the normal. Watch how much profit you realize and know which is better.
Buying in bulk however requires a lot of money. The good thing is that there’s a quarter, half, and full bag so no matter how much you have, you can afford a particular size.
Be consistent and neat
Imagine that your favourite Akara customer in your street doesn’t come on a particular day, you’ll feel so angry, right? Now, if she just comes occasionally, you’ll find another consistent one.
That’s how it is when a foodstuff dealer becomes inconsistent.
This business is in high demand and only those consistent would thrive here. Inconsistency kills. It drives customers from you and affects the customer-seller relationship. You’re considered unserious and lose your customers.
Another thing that you should consider is neatness. Avoid dirtiness in this business. People in this business are considered dirty. You can choose to be different and be neat. Add some class and distinguish your business.
Adopt the right marketing strategy
Packaging is important in business. It increases the number of sales. Your fishes can look attractive by the way you package them.
Don’t forget to be friendly with your customers. Give out some friendly smiles as they approach your shop. Have the right attitude towards them.
There’s no stoniest of heart that can’t meet at a lovely smile. Hear their feedback and take the right step toward them.
In conclusion, if you’re looking for a business to consider, this is the lucrative one to delve into. Take these steps and have a blooming business.