To start a wholesale business in Nigeria, there are different factors to consider. These ideas include, what kind of business you want to venture into (the business idea), location, mode of business operations, etc.
This article will focus on starting a wholesale foodstuff business in Nigeria
Do you want to start a wholesale foodstuff business in Nigeria? What is the process involved in starting a food supply business?
How do you want to start a food supply business?
If you need all the answers, then read the detailed article to the end to see all the required necessary steps required.
Foodstuff business in Nigeria is one of the profitable sectors of the economy in Nigeria. This is largely due to the fact that everyone needs to eat at least twice a day.
However, the need for the certain type of foodstuff may differ from one location or the other.
What is wholesale foodstuff business in Nigeria?
It’s important to understand the aspect of foodstuff business we’re discussing, considering how vast the food sector is.
So what is wholesale foodstuff business in Nigeria?
This is a type of business where you buy food in bags and then sell it at retail to customers.
Your customers can be individuals, restaurants, hotels, schools etc.
Due to the popularity of the wholesale foodstuff business in Nigeria, there is still room for more entrepreneurs to invest and profit from the business.
Why starting a foodstuff business in Nigeria is a great idea
It can be done anywhere
The foodstuff business is one of the businesses that can be done irrespective of the location. No matter the location, whether in the rural or urban location people need food to survive.
Foodstuff is needed on a daily basis
Food is needed daily to maintain our daily body functioning and optimum health always.
You can make profit from the business
If you start the business, there is every chance of making a profit from the business.
However, this is in no way trying to tell you that the business is a get rich quick scheme. But when you develop a solid business foundation, you can be sure to grow the business from nothing to a profitable one.
Now that you’re ready, let’s dive into the step by step process required to set up a business.
The step by step process of starting a wholesale foodstuff business in Nigeria
The following steps below shows the complete step by step process to starting a foodstuff business in Nigeria.
Decide on a business location
If you’re interested in the foodstuff business in Nigeria, then the location is really important.
This is because your location will ultimately decide where you can buy the foodstuff when starting the business.
For instance, if your location is in Lagos, you can go to places like the Alaba rago Market, Ojo, where you can get beans, rice, Millet, corn and other grains at a cheaper rate.
Another option is to visit local market closer to you in a rural community to get the raw foodstuff at a cheaper rate.
Another important factor in choosing a business location is the accessibility to customers.
This is particularly great for those trying to find a static location. Your location should be easily accessible to all forms of computers.
Once you’re able to make the decision, then you’re ready to move to the next step.
Decide on the mode of your business operation
This is really important because without figuring out the business operation of your business, it’s going to be difficult to operate the business effectively.
You can decide whether your mode of operation can be to be a door to door delivery, delivery to hotels, restaurant or find a static location for the business where you sell for individuals etc.
For most beginners, they start the business by selling from a static location then scale it up.
When you’re able to figure it out, then move to the next step.
Write a foodstuff business plan
Well, this is really important as a foodstuff business plan will help you keep everything and all calculated figures on record.
Your business plan should include the following:
- Decide on the type of product you intend to sell. There are several reasons and factors to consider here. But the important of them is the knowledge and demand of the product.
- Then decide on the amount of money you need to spend on the business startup project.
- However, these may vary according to the product you choose. Some may require more startup capital than the other.
Then write your projected profit and future expansion of the business.