In this article, however, l am going to dwell on steps on how to start a peanut business in Nigeria. Before we begin, let us look at the reasons why you should start a peanut business.
Peanut Business In Nigeria is a lucrative business, some called it literal goldmine and very few persons are yet to discover the secrete behind peanut business in Nigeria.
I know of a person who ventured into peanut business in Nigeria, this was about two years ago with just a little amount of money but today, he is supplying peanut in bags. When he tells people how much money he used in starting this business, many do not believe him.
How Lucrative is Peanut Business in Nigeria
Peanut business is a lucrative business, but many are not aware, they think that peanut business is business for the poor, that is not true.
Most of the businesses you need a little capital to start are often overlooked by many, and these are businesses that usually turn someone into a millionaire.
Why? It is because more often the best idea is usually the simplest ones, and such idea is the idea of peanut business.
Below are some of the reasons why peanut business is lucrative in Nigeria and why you should start the business.
1. Almost Every Person Eats Peanut
Have you any idea about anyone who does not eat peanut? I think everyone does eat a peanut, except those set of individuals who are battling with acne.
However, it has been proven scientifically that peanut never causes a pimple, but what causes pimples are dirt and some blockages of the skin pores.
2. Peanut Are In High Demand
Anytime there is peanut, there is usually a demand for it. There are some persons who considered themselves addicted to peanut.
One of my friends is addicted to it. A high demand of peanut is why peanut business in Nigeria is a lucrative business. One person may eat N200 peanut in a day and still want more.
3. Easy To Start Business
Peanut business is one of the businesses you can easily start even with little capital, and the return on investment ROI is usually mind-boggling.
You do not have to acquire any skill to run a peanut business. What you need to do is simply purchase your peanut from the market, prepare it and sell to both retailers and wholesalers.
4. Is Not Capital Intensive
You can start your peanut business with N2000 only. You can start either big or small. Buy your products, prepare it and sell to the end-users, whether they are retailers or wholesalers.
What Are The Profit Potential Of Peanut Business in NIgeria?
According to those who are in the business, who actually are mega suppliers of peanut, N750 worth of peanut will give you gain of N500 in return.
Just a few bags can give you a profit of say, N20,000. But, you have to seek for extra hands, should you want to start big. If you start big and you are not employing extra hands, that will affect the growth of your business. If you do it properly especially on a large-scale, be rest assured that your profit will be running into a minimum of, N50,000 or more than that, all depend on the size.
Now having said that, what are the steps to start peanut business in Nigeria? In this article, l will answer the question.
Steps to Start Peanut Business in Nigeria
To start a peanut business in Nigeria, there are steps to follow in order to be able to recover your investment in the business. Below are some of the steps to follow, should you want to start peanut business in Nigeria.
1. Purchase Your Peanut
You may start your peanut business with just few cups, or sometimes with a bag, and this has to do with your financial capacity.
Your size of business will ultimately determine how much you will make in the business. Supposed you start your business with one bag of peanut, you have to prepare your peanut and then, supply them to retailers.
Anytime you want to buy your peanut, do not go for big seeds or small seeds, but average seeds, not too big and not too small. The peanut must be healthy before you buy them.
2. Learn How To Prepare Your Peanut
Preparing peanut is never a rocket science. You have to first fry your peanut, how?
If it is the type you have to peel, peel it, then wash the peanut with warm water. Add salt to it.
You can then spread it on a flat board. Allow it till the following day.
The Following Day:
-Prepare Your Fire and Make Sure Your Pot ls Ready:
Use whatever flakes, sometimes people used cassava flakes inside the pot.
Then empty your peanut inside the pot and stir it continuously while on fire, with the flakes until the peanut is done.
Anytime the peanut is ready, put it down and shift the flakes from the peanut immediately so that they do not get burned.
Once the peanut is cool, package them and then sell them both in waterproof and in bottles.
3. Sell Your Peanut
You are now a peanut supplier, so supply to roadside shops, who will later resell them to end users. Supposed you want to retail your peanut, then be sure you take your peanut to an open place where there is traffic of people.
Anytime people see peanut, that will stirs hunger within them. Peanut business in Nigeria is not a small business, it is a kind of business that you can make tons of profit because of the high demand of peanut in Nigeria.
Peanut business is a lucrative and profitable business which can actually fill your account with money if you can only take the first step of starting the business.
The business is not about starting it in a big scale. It is about starting the business small and then grow from there into a big business.
Peanut business in Nigeria is one of the business ideas that has produced many millionaires. Therefore, if what you are looking for is a kind business of business that is easy to start, and which is not demanding, l will advise you to consider starting a peanut business.Click here to see the latest Study Abroad Scholarships and Guides
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