How To Start Groundnut Business In Nigeria
Groundnut Business in Nigeria is literally a goldmine and only few are yet to see the many opportunities that lies in this business. According to a market survey carried out by dailytrust newspaper in 2014, Mrs. Grace who was interviewed said she started with an initial investment of N400 and she is now controlling over N40,000. Most people often look down on this lucrative business, simply because they feel they it is meant for the uneducated people or for the poor. This is a mindset that makes one poor forever.
Businesses like this that are often overlooked are usually the business that makes one a millionaire with time. This article is well researched and detailed. It will serve as a guide for you on how to start a groundnut business in Nigeria with just a very little capital.
Reasons Why Groundnut Business In Nigeria Is Really Lucrative
- Everyone Eats Groundnut: Do you know anyone that dislikes eating groundnut? I doubt. Even if you do I am sure they are countable. Probabling those battling with acne.
- The High Demand: The demand for groundnut is always high. There are individuals who just cannot do with groundnut on a daily basis, especially eating eat with banana or drinking garri. This of cause is one of the reasons why groundnut business in Nigeria is very lucrative. Given that groundnut can be eaten in different forms some even use it for soup.
- It Is Easy To Start: Groundnut business is one of the businesses that you can start easily without much resources and yet, make huge returns on a daily basis. You don’t need any technical expertise or knowhow. All you need to do is buying from the nearest market, fry and sell to either retailers or wholesalers. Remember you can also cook it.
- Low Startup Capital:With N3000, you can start this business and sell to the final consumer. To start big and supply to retailers, then you need to buy a bag of groundnut which is currently set at a price over N30,000.
How To Start A Lucrative Groundnut Business In Nigeria
1. Buy Your Groundnut
You can start with as much as 20 cups, 1 painta or a bag. Your choice would depend on your financial capapbilities. The size you decide to start with will determine how you sale and how much will be realized as profit from sales.
2. Learn How To Fry
Frying groundnut is not rocket science, I am an expert, to show you how easy it is.
Ingredients For Frying Of Groundnuts (3 cups as an example)
- 1 table spoon of iodized salt (optional)
- Frying pan
- 1 cup of garri or sand
- A napkin
How To Fry Groundnut
- Wash the groundnut with hot water. Add a little salt to your taste and sieve after a minute.
- Set it aside and allow some time for it to dry.
- Prepare your Fire, and then place your frying pan on the fire.
- Pour either sand or garri inside the pot.
- Once the garri or sand is heated, pour your groundnut and keep stirring the mixture.
- If you are using garri, you will notice that it is becoming smoky and changing colour, all you need to do is to turn down the heat a little. The garri will turn black and your groundnut is fine provided you stir continuously.
- Stir for about 15 minutes on a low heat.
- Take out a groundnut, peel and check whether it is has turned brown, stiir again if you are not pleased with the colour.
- Once it’s ready, bring it down and separate the garri or sand from the groundnut immediately, then allow it to cool completely.
- Once they have cool a little, peel the groundnuts and blow out the skin.
- You can tie your groundnut in a white leather bag or store in a bottle with a tight cover.
Market Your Groundnut
If you are a supplier, you can supply to roadside shops so they too can resell. If you are a retailer, then make sure you have a shop or store in a location that is frequented by people. A market is your best bet. Groundnut business in Nigeria isn’t a child’s play. You can make tons of profit a day because the demand is very high and it is never going to decline.
Groundnut business is with no doubt a very profitable business that is able to fill your pocket with good money if only you will be bold enough to that first step. Remember it is not always about starting big, but how well you are able to manage what you have and grow it. So, if you are thinking or looking for a business that is very easy and not very demanding, then look into starting a groundnut business today. Cheers!