Practical Guide On How To Start A Profitable Food Processing And Packaging Business In Nigeria
For all time, food business will always be a great business because it is about the basic necessity of mankind. As far as people will eat, the industry will always be great. There are many facets that you can join in the business. Today, however, the emphasis is on how to start a profitable food processing and packaging business in Nigeria.
In its raw sense, food processing is all about making harvested crops into marketable food products and packaging involves making them look quite presentable. It is the end point of getting the food products ready for distribution.
Nigeria is a good country for the business. The reasons are obvious or should be obvious, to say the least. Nigeria has a population of grossly 180 million people. They have all got to eat and you can help feed them in exchange for money.
More so, people are increasingly becoming interested in processed food in the country as they are quite easy to prepare and the 21st-century trend of letting women work means that the time is always limited for them to prepare the normal food, hence, the importance of processed food.
The opportunities here are so many. You can start custard production, tomato production, bakery, meat packaging, cashew nut processing, plantain chips production, potato chips production and many others. They are just too many.
How To Start A Profitable Food Processing And Packaging Business
Research on the business
When you want to start a profitable food processing and packaging business, you will need to take your time to go through the intricacies involved in the business. You will need to understand the strength and weaknesses inherent in the business and you will need to make decisions based on what is obtainable in the business.
The research will help you with making choices of location and the scale you would like to start with.
Choose the type of food processing business
Also from the research which you conducted, you will be able to make an informed decision on the type of food processing and packaging business you would love to start. Your knowledge of the type that flourishes in the location of your choice will help you choose the one to start.
After the choice of the type of food processing business, you would venture into, you will need to put together a business plan for that type. The business plan will cover very important aspects such as the cash flow, personnel, potential investors, exit strategy and lot more.
Register your business
When you want to start a profitable food processing business in Nigeria, you will need to register your business with the appropriate authorities. The scale you want to operate at will determine the authorities you will need to register with. In general terms, you will need to register with the Corporate Affairs Commission (CAC), NAFDAC and SON.
Get the required equipment and set up your facility
Your research and feasibility studies must have revealed to you the kind of facility you will need and more importantly, the kind of equipment you will need to start the business. It helps if you can get the standard equipment.
You will need to put up the processing plant, get things like boilers, deep fryers, cutters, mixers, grinders and other necessary things. Be reminded that you will get the food items that you will process.
The last part of what you have to do is to get your products to people. If people don’t know your products, no matter how good it is, they won’t buy. You will need to explore all the platforms for advertisement and advertise your goods. You can get a marketing team to handle your marketing. If you get this right, profit will definitely follow.