To state that there is hunger in the land is to state the obvious.
Anyone who invest in food business will surely be reap high return on investment.
In short, every business in the country is struggling to stay afloat as a result of high inflation, high foreign exchange rate, high cost of energy.
It seems that that the only thriving business now is food business because man must wack, as they say in Pidgin English.
This implies that anyone who invests in trading in food items will make in a short while.
The business entails sourcing food items from areas of surplus and selling to consumers at at a margin.
If one can take the risk of navigating the rural terrain where there relative security, one will surely reap bounteously from his investment. Through research, you will find the type of food items in high demand in your area.
However, the most common food items in high demand are rice, beans, garri, cassava, plantain, yam, maize, and others, vegetables, depending on your environment.
You don’t need to risk your life all the time to travel to remote farms and villages to make a purchase.
You could arrange with suppliers especially in remote villages or farms who would package your order and waybill them to you wherever you are. In so doing, you minimise the risk involved in travelling long distances under the prevailing insecurities in the country.
Low Capital
You can start with a small capital and grow your business into a big concern.
You even start with as little as N100,000 or thereabouts and as you continue in business, you increase your capital, to grow your business.
But, bear in mind that the bigger the capital, the more profits you are likely to make.
Join The Association
If you join the association in your area of trade you will mitigate some of the costs you would solely incur especially in terms of transportation if you are alone. Dealers usually come together to hire a bus to evacuate their purchase to their destination.
It pays to fifind those in the business in your locality or union and join them by registering with them.
As you join them you learn more about the business from those who had been going to and fro.
Research
However, before you start, carry out a research to determine your potential customers and competitors.
Determine in the value are you going to add, to beat competitor.
Determine your unique selling point? Finding snswers to these questions and many others will You can devise strategies to market your produce – word of mouth, the social media, radio, TV adverts, flyers. Choose the ones are appropriate and cost effective put you in good stead for a lucrative business.
Packaging
Ensure proper packaging and storage to preserve the quality of the food items during transportation and storage to avoid incurring losses due to spoilage and contamination of the items.
Location
Open shop where you have large population and at a strategic location; for example, a place that is accessible to customers.
Marketing
You can devise strategies to market your produce – word of mouth, the social media, radio, TV adverts, flyers. Choose the ones are appropriate and cost effective.
Export Trade
By the time you have who enough investible funds, you can invest in export of farm produce to earn foreign exchange and swim in fabulous wealth.
However, it is not as simple as that. You have to learn the ropes.
You can export commodities such as sesame seeds, cashew nuts, cocoa beans, fish, bitter kola, ogbono, egusi, you name it, many of the Nigerian foods.
Profitability Trading in food items is good businesses any day because everyone must eat to survive. Done very well it guarantees high return on investment.
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