How To Start Palm Oil Business in Nigeria. Stories have told how that the noise is a man thought unfiltered, and without filter a man is just choas walking working. This noise a man’s thought ranges from family, politics, religion, business ideas and the list goes on and on. But for the sole purpose of this article let’s talk about business ideas.
All you need to know about Palm Oil Business in Nigeria
Did you know that there are big and small business that you could start in Nigeria today that will not leave holes in your pocket?
Did you know that you can have it big but start small?
Did you know that no amount of money can actually be called small?, because that which you call small is all that another pray for
Did you know that cutting your coat according to you cloth applies not just to life style but also business?
The palm oil business is one of the many lucrative businesses in Nigeria because of its sundry usefulness and the towering yield involvement. In Nigeria, palm oil is one of the essential needs for cooking most meals. The unputdownable part of this business is that every part of the palm tree (fruits, leaves, trunks, and sap) is used for different things.
The palm fruits are processed to produce palm oil, the leaves on the other hand are used for roofing homes in rural areas maybe not very common as it were. While the popular palm wine which is the sap is a refreshing and widely loved beverage in Nigeria.
After the fruits are processed to produce palm oil they still hold much value, they are broken and the seed used as food whilst the cowlings are used for road construction.
So, knowing by fact that palm oil is present in nearly every facet of our lives her involvement in every product we use daily such as detergent, lipstick, shampoo, chocolate, bread, ice cream and bio diesel. Along with the fact that it has a high melting point and doesn’t spoil easily, palm oil also holds her title for being relatively cheap, costing significantly less than other vegetable oils. Such that every year, the demand rises sharply with annual production. Nigeria ranking 5th in the palm oil producing country after Colombia, Thailand, Malaysia and the current topping contry Indonesia.
This article covers everything you need to know about starting and running a successful palm oil business in Nigeria. With less than 100 thousand naira.
Again i would like to reiterate what i once said that this truth stays unchanged. Every business solves a problem. But understanding this golden rule: The bigger the problem you can solve – and the better you solve it – the more money people are willing to pay. And the quicker you make it up the radder.
Health Benefits Of Palm Oil
When asked what the use of palm oil is, mostly likely that all we would say is, palm oil is used for cooking. But alongside cooking, palm oil can be used for:
- Prevention of vitamin A deficiency, cancer, brain disease, and aging
- Production of soap, cosmetic, body cream, exfoliation cream, margarine, etc
- Relieve of stomach pain
- Production of drugs
- Treating malaria, high blood pressure, high cholesterol, dementia, etc
- Weight loss and for increasing the body’s metabolism
- Water treatment
- Production of dog and other domestic animal food
- Preservation of food.
There are three main types of palm oil business you can invest in
- Palm Tree Plantation
- Set Up A Palm Oil Extraction Mill
- Sales Of Palm Oil
but in this article will focus on Sales of Palm oil.
Sales of palm oil business is the most common for entrepreneurs to invest in, because it is the cheapest and easiest part of the business. This business involves the buying of palm oil and selling to consumers.
In the place of capital in this case, what you need is to understand your market learn the seasons, love the risk, trust your judgment and make that decision In order to get more profit from this business and build up your capital in the shortest period of time, you need to know how to store the palm oil in a cool place for months, then sell them during off pick period when the supply of palm oil has reduced and demand is high. Additionally, you will need to purchase kegs or drums to store your oil. Most times, people go for the 25litre yellow kegs.
Who’s your source?
Its clear already that you are not the one producing the palm oil, the need then to have a solid arrangement with suppliers you can purchase from. A good market survey will help you get a well schooled supplier if not suppliers to source your product from.
Also we have states in Nigeria that are known for producing palm oil in large quantities. Although there are several other states that produce palm oil, these states are seen as the largest producers of quality palm oil in Nigeria. Delta State,Akwa-Ibom State,Cross-River State,Bayelsa State,Imo State,Rivers State,Ondo State,Abia State
CARGO
Your inability to know the right mode of transporting your goods either from your suppliers to your store house or form your store house to your final consumers, will be meet with huge costs that will affect your profit.
Sourcing for customers for Palm Oil Business
The idea of a ready market to sell, gives comfort. This should ignite an aggressive creation of awareness and marketing for for your would-be retailers and final consumers.
You can find retailers amongst market sellers, cosmetologists, housewives, Online marketing (social media, google ad, etc). Referral marketing at this level would do us so much good.
Conclusion on How To Start Palm Oil Business in Nigeria
Filter the noise (your thoughts, you ideas) and engage them. Walking the path with patience and perseverance very key.
So if you are looking to start palm oil business in Nigeria, and you think you cannot simply because you don’t have your capital running in millions. We believe this article should give you a picture of what it takes to start. Palm oil business is lucrative, other business alongside
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