Do you know that foodstuff business in Nigeria is a big business? So what are some of the best ideas in the food business?
Well if you read the article from start to finish, you’ll find some of the best business ideas you can do in the foodstuff industry.
In our last article, I’ve outlined the step by step process in starting a wholesale foodstuff business in Nigeria.
There are over 180 million people in Nigeria today and everyone will need food to survive and perform their daily activities efficiently.
This has makes the foodstuff business in Nigeria, one of the businesses that never run out of customers.
The questions in the minds of many entrepreneurs are which of the foodstuff business that’s worth starting.
Well if you have the passion about foodstuff business and wondering which one to do, then in this article you’ll find the best ideas in the foodstuff business in Nigeria.
Why start foodstuff business
- Food is eaten by all living things irrespective of the location. The demand for food will always be a high year in year out.
- As more food businesses continue to open, the demand for more foodstuff will continue to grow.
- Depending on the type of foodstuff, some might be stored for a long time.
Challenges of foodstuff business in Nigeria
- Some foodstuffs are perishable and thus can perish if not consumed at the appropriate time.
- The price of the foodstuff can vary depending on the season.
- Getting the required funding by entrepreneurs to ensure the business thrive can be difficult, considering the regulations put in place by the government.
- Financial fraud can also be a big concern. Without finding a reliable partner, the business will be in shambles in no time.
If you’re ready, let’s dive in.
11 best ideas in the foodstuff business in Nigeria
Fast food business
To start the business and be successful, you’ll need to get the experience or hire those with experience to run the business.
The fast food business requires great management skills and the system put in place and some capital to operate the business effectively.
Not forgetting to build your brand constantly and who knows you’ll be the next big fast food restaurant.
Rice is one of the highly consumed food in the world and Nigeria is not an exception. As a result, rice farming is one of the lucrative foodstuff businesses in Nigeria today.
With the ban on the importation of rice, starting a rice farming in both large or small scale can get you all the support you’ll get from the government and private organizations.
We’ve written a complete guide on how to start a rice farming business in Nigeria. Just check it out.
One of the most profitable businesses you can do in Nigeria today considering the options you have. You can either grow chicks for meat or sell chicken egg.
Starting with 100 birds is okay and you can scale it up. However, the poultry farming is one business that requires great managerial skills to succeed.
There are more consumers of fish and little fish farmers in the country. The government spends a lot yearly to augment the deficit.
This is simply saying that the business of fish farming is one of the business that there is a market for all the entrepreneurs that decide to do the business.
Producing fruit juice
There are many fruit juice in the market and we have different taste. If you can make fruit juice, you can give it a try and you’ll be surprised at the number of people that’ll be your customers.
Grocery store opening
There is hardly a location that you cannot find a grocery store. These stores sell both processed and raw foodstuffs. Starting with a grocery store can start from N40, 000 to 200, 000.
To explain further, if you’re going to start a simple grocery store, N40, 000 will be okay, however, if you want to start big, then you’ll need at least N100, 000.
Profit can range from N3000 to 10, 000 daily.
If you want to start a grocery store, read our complete guide to start one.
Production of pure water
In the past, no one will ever tell that pure water business will be one of the lucrative foodstuff businesses in Nigeria, but it’s. The demand for pure water is always high even during winter.
You can start the business by subscribing to start selling the water in sachet or bottle. The profit will comes slowly as demand grows.
The pure water business requires some massive investment, especially if you want to start your own pure water production.
You can sell frozen foods in your location. This is one foodstuff business that you have a variety of food to sell. It could be fish, bird, chocolate etc.
Most of the food required to be frozen are perishable below the freezing condition.
The frozen food business will require constant electricity in other to keep the food in the right condition.
Some investment in cold rooms and backup power sets are required to ensure the food are in the right condition.
Organic food is becoming popular by the day. This type of food is among the healthy the foods that can be consumed by any individual.
You can start the business either by growing and selling them, or buying from the growers and sell them directly to consumers.
One thing worthy of note here is the growth of the organic foods takes time.
Food processing is another business gaining ground in the foodstuff business industry.
Lack of processing food is one of the reasons why people are buying foreign rice.
But more entrepreneurs are joining food processing business because of the demand for processing raw food by individuals as well as food businesses.
There are several food processing businesses that you can start but one that is growing by the day is the rice processing business.
Dried fish business
The reason dried fish business is one of the great businesses to do. The ease of moving dried fish to other location has made it one business that you can do irrespective of the location.
You can grow the fish and smoke them then sell or find a supplier that’ll supply it and while you sell it.
Foodstuff business in Nigeria cannot be saturated. Considering the growth in population, the demand will always be high.
However, you’ll need to develop a plan of action and decide on which one that can best fit your passion before investing your time and investment.