fbpx
Uncategorized

How To Start A Food Stuff Business In Nigeria

Are you thinking of Starting a foodstuff business in Nigeria? Today we will be taking a very interesting journey on what you should know before you venture into a foodstuff business.

Undeniably, Nigeria is Africa’s most populated country and one of the ten most populated states in the world. It hosts a large number of active, dynamic and ambitious difficulties.

Until lately, the fastest rising economy of Nigeria inspired the Investment Bank “Goldman Sachs” to include her in the “Group of eleven” – the list of countries with the enablement of becoming the world’s booming economy.

Read Also: Foods To Produce From Cassava

How To Start A Food Stuff Business In Nigeria
Food Stuff Business – Photo Source: https://howng.com

With a thriving population and a more diversified economy, the foodstuff business in Nigeria is a goldmine. Although beforehand, the nation’s oil sector traditionally dominates over 80 percent of the country’s economy.

But with the expansion of other industries, like telecommunications, real estate, financial services, and agriculture. Nigeria’s economy has been diversified.

The banking system of Nigeria is as well the largest in Africa.

The Financial Times included ten of Nigeria banks in their list of the top 1000 banks in the world. All these factors combined with assurances of high return have made this country highly engaging to potential investors.

Read Also: How To Start Fast Food Joint In Nigeria

Foodstuff business in Nigeria Startup strategy

It is not advisable to keep calculating all the figures in mind, so you will need to make up a Foodstuff business plan.

1. First of all, you need to decide– what products exactly will suit you the best. It may depend on different factors, particularly, your background knowledge about certain types of products.

2. Set aside the amount of capital you are ready to invest in your business start-up project. The sum will differ from the character of the field you have opted for.

Some products require more money, while some need less. Make all the calculations wholly, taking into account all the minute details.

3. The third thing is to assume the amount you want to be making daily or annually. Evaluate your income and profit.

4. Find the right store for your wholesale foodstuff business in Nigeria.

5. Then proceed to make a plan of what you have already done and what is to be done in the future.

6. It can be beneficial to ask for a piece of advice from past shoppers or anyone who is experienced in the foodstuff business.

7. Hire some qualified and diligent employees. Teach them how to work.

8. Start selling goods and making a profit!

Now that you have a hint on how to go into the foodstuff business in Nigeria. Ensure you always go with the demand, make all the necessary computations, estimate the market and start making money!

Read Also: How To Start Food Processing Business In Nigeria

Business risks in Nigeria

There’s no business without contingencies. However, the principal limiting factor of economic improvement in Nigeria is the usual lack of electricity. The second limitation is the different types of financial fraud and theft.

The problem with electricity might be resolved by the proposed development of new power plants with the help of China, and the second puzzle is solved precisely by finding reliable and dependable partners.

Unfortunately, the level of standard robbery is also remarkably high. You are advised to employ a spirited security officer.

 Requirements to Start a Foodstuff Business

Get a Shop

Rent a shop in a reliable location. Any place with more population is a good location, especially if people are living there in a neighborhood setting.

The size of the shop you rent depends on the amount of money you have presently and how big you want to start. Be very selective when on the search for a shop and make sure you get a nice one situated in a strategic location. Having paid for the shop, you must furnish it properly and make sure it is very inviting.

Read Also: Problems And Prospects Of Onion Farming In Nigeria

Floor Tires

Many times, the floor of the shop may not be tiled, but you need to fix tiles for specific reasons:

(1) To lift the beauty of the shop and add more sophistication

(2) To prevent flies and insects from digging holes from the ground and overrunning your shop. Insects can ruin most of your items like sugar, biscuits, beverages and so on.

Store Shelf

There are various types of store shelf, they may be made of woods, aluminum or iron. The wooden one is fancied and the commonly used.

And you have different types of wooden shelves the same way; some are cleanly finished with polished materials while other are hurriedly done. Your choice will determine the nature of your shelf in this regard.

Read Also: List Of Nigerian Foods For All Tribes

Tables

One or two tables may be suitable for a start depending on how big the shop is. The most crucial things are the cashier’s table, you may do add one or two tables for items display.

.

.

👍Showcase your business here!

With over 1M unique users per month across all channels, we have a large audience for you to showcase your products and services. Simply get in touch via 👉 marketing@Infoguidenigeria.com.

 

🤑 Make Money now!

👉 Make money writing for us. Apply for Freelance writing jobs in Nigeria.

👉 Make Money as InfoGuideNigeria Advertising Agents, read more here

 

✍️ Be Our Guest Publisher!

Do you have a press release, breaking news,  or any other helpful information to share with our growing readers? If yes, send your article to 👉 infoguidepr@gmail.com.

We will be glad to publish it if the information is useful to our audience.

.

This post can be helpful to somebody else, please share it on Facebook, Whatsapp, Telegram and Twitter. There are buttons below for this (easy to use too)!


Copyright Warning!

Contents on this website may not be republished, reproduced, redistributed either in whole or in part without due permission or acknowledgment.
.
Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,.
.
All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA).
.
We publish all contents with good intentions. If you own this content & believe your copyright was violated or infringed, please contact us at [infoguidenigeria@gmail.com] to file a complaint and we will take necessary actions immediately.

Eyituoyo Agindotan

Eyituoyo Agindotan is a Content Developer at InfoGuideNIgeria.com. InfoGuide Nigeria is a team of Resource Persons and Consultants led by Ifiokobong Ibanga. Page maintained by Ifiokobong Ibanga. If you need a personal assistance on this topic, kindly contact us.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button