This guide is about how to start a food supply business in Nigeria and make money from it.
The food supply business is a lucrative one with a lot of people making it from the business.
The business involves buying and selling of food stuff in demand. You buy at a cheaper rate, sell at a higher rate and the rest is up to you. That include managing your fund, scaling the business and other management activities.
If you are interested in making money through buying and selling of food stuffs in Nigeria then read this article, it will serve as a guide on how to start.
STEPS ON HOW TO START FOOD SUPPLY BUSINESS IN NIGERIA
STEP 1: WRITE YOUR FOOD SUPPLY BUSINESS PLAN
Writing a business plan is always the first step as it serves as a guide to which direction your food supply business is going to.
It contains the necessary information for your business to survive, especially the cost. Remember that proper planning prevents poor performance.
STEP 2: CHOOSE THE ITEM TO SELL
The second step toward starting this business is making a choice on the food item to sell. There are a lot of items to sell. You can go for beans, maize, guinea corn, soya beans, yam, cassava etc.
Generally, the food item should be the one with high demand in your area or your market of choice. This will ensure that you sell off your products as soon as you buy them and this is needed for the success off the food supply business.
If you go for a product that you can’t easily find a buyer then you are going to find it really hard in the business. If you like, you can choose variety of items.
STEP 3: LEARN THE TRADE AND CHOOSE A LOCATION
You might think the business is easy but it is not until you know it in and out.
First of all, you need to get close to someone in the business. doing so will get you to know the market you can the product are rate you would sell to make gains.
You will also learn the tricks associated with the food business. Every business has a trick associated with it and this business is no exception.
You wouldn’t understand until you ignorantly go to buy beans and they fill the top of the sack with good ones and what is at the bottom is a mess. That is when you would know you you need just money to excel in the business.
After learning, the next step is choosing a location for your business. it should be in a place where that product is in high demand.
This is needed so you can easily sell your goods. You can start the business by renting a shop or starting it in your house (using your house as a store for the goods).
STEP 4: BUY THE FOOD ITEM AND START MARKETING
After the steps above, you can then buy the items you want to sell and stock it after that, you can start selling.
Marketing is at the top of this business. usually, when you are doing the business on a large scale, you will need a vehicle to transport the goods from the market to your store and then from your store to your clients.
If you can’t afford this, you would end up renting and that might chop into your profit at the long run.