HOW TO START A FROZEM FOODS BUSINESS IN NIGERIA
The frozen food market is actually one of the most patronized industries in the country with the demand for its products increasing by the day. It is one of highly profitable businesses in Nigeria that can help individuals generate high amounts of profits if properly organised. The frozen food market offers quite a number of things and the thing about the products is that you just need to get them and then cook, no other processes involved. This, of course, serves as a way in which individuals can do things in simple ways and still get what they want.The products are well recognized and accepted by many in the country.
Starting a frozen foods business means you’ll be dealing in the sale of the different kinds of frozen food products available for consumers in the market. You can either decide to stick to one or instead get involved with as many as you can depending of the capital and then the level of hardwork put in. The business requires no special skills and is actually one of the businesses you get to start without any skill in particular or educational qualifications or prior experience. In short, it can be started by almost anyone as long as they’re prepared to get involved in everything involved in starting and moving the business forward.
In Nigeria today, there are quite a number of frozen food products in the market today but the most popular ones are the fishes and poultry products. There are others but they’re just not as popular as these ones and even when you’re starting the business, it is highly advisable to start the business with the popular ones to give yourself a good chance of getting customers and also doing well in the market. This is an important decision to make as it determines how well you’ll make profits and succeed in the business.
The business is available in small scale and large scale setups. Most businesses start small scale as it comes with a lower amount of capital, little or no help from workers and also, lesser risk. It allows you to start with a little amount of capital and still gives you the chance of growing upon continued success in the business. The large scale, on the other hand, is exactly the opposite and most times, individuals who start the business on a large scale already have their capital and don’t really need to source for too much funds. The large scale allows individuals to deal in large scale sale of the products with no direct interaction with consumers.
Starting the business is not exactly a very difficult thing to do especially when there’s enough capital already available. There are a number of important things that will need to be available for the start of the business and also during the course of running the business. The capital will help sort out the cost of those things and help in kick starting the business process. Location is quite important for a business like this and the place you select will have to depend on the capacity or size of the business. Hard work is also an important part of any business, and it will be required here, together with commitment, if you’ll be moving the business forward
There are number of important steps involved in starting a frozen food business in Nigeria and also some important steps involved in moving the business forward and having a good chance of succeeding.
This is similar to going around and doing a comprehensive research on the business. There are quite a number of people in this business that can be considered as experts and have been in the business for a very long time and also know the in and out of the business. These individuals have already established themselves very well in the market and are known for the sale of frozen foods. You can visit markets where these frozen food products are sold and meet up with some of the people involved in the business. They are most likely the only reliable option for good information about the business.
You will be able to ask questions and also be aware of some unclear things about the business. All the neccesary things or rudiments required to start up and also the market requirements for the business will be discussed. Also, you can consider taking a short survey on the experience of people involved in the business and what customers want and also taking note of some of the things that will definitely make the difference in the running of the business. When meeting up with experts, you can interact with more than one person as everyone has different opinions and experiences also differ especially in a business like this.
After you’ve completed your research or your interaction with the experts, then you can decide if it’s a business that you can do or not.
2. SELECT A SPECIALITY
As I’ve mentioned earlier, there are quite a number of frozen foods available in the market today and it is up to you to decide the one you’ll be selecting for the business. Again, the two most consumed frozen food products are fishes and poultry products such as chicken, turkey, gizzard and so on. To have a good chance of succeeding, getting customers and making profit, it is advisable to select from either of the two or choose to do both provided the capital is available and you can properly manage both products. The frozen goods market, however, goes beyond the fishes and poultry products, and you can choose to do others too alongside what you’ve selected already.
The research will be very useful here when selecting a product. You must have gotten information about the product and also, the chances of making profit with it. After selecting a product, take for instance fish, you might still have to select a specie you’ll be dealing with. There are quite a couple of them and consumers always have their preferences when they go to the market to get the product.
3. CAPITAL AND LOCATION
A very important part in the start of a business is securing the capital and making sure it is available when the business is about to properly start. You can create a budget for the cost of everything needed for the business and estimate your capital for the business. For this business, you’ll need a good amount of money to start except you’ll be starting large scale where you’ll need a lot more equipments. After capital is secured, the next thing that probably comes to mind is the location for the business.
It is advisable to get a low cost place with high turnout of people and also far from competitors. There are some people already in the business so it’s best for you to locate yours away from such competitors to give yourself a high chance of making sales.
4. SUPPLIES AND EQUIPMENTS
It is at this stage that the products selected will be gotten and also the equipments for the business will also be made available. Some of the basic things needed include freezer, knives, bowls, wooden board, nylon, tables, and chairs. For a large scale business, you’ll definitely to get multiple of some of the things mentioned. Also, you’ll need a generator considering the poor power supply we have in the country. The products need to be fresh at all times and the only way that can happen is if they remain cold or frozen.
Also, you might need to get one or two workers to help properly manage the business. It’s not really neccesary if you’re starting small scale but you’ll most likely need them when you’re involved in large scale sale. Sometimes, other things are sold alongside the frozen foods, so you can also adopt that if you like and have the capital for it.
5. MARKETING AND SALES
At this point, the business is ready to start getting customers, making sales and getting you your profits. You’ll most likely need a banner in front of your shop and you could also get them displayed in designated spots in your area. Word of mouth and referrals is very useful in a business like this. On rare occasions, social media is also used for advertising the business.
The demand for frozen food products is increasing by the day thus making it a very good business to get involved in. It is also highly profitable and business owners can gather huge profits almost immediately after starting, even those who start small scale. All these can only be achievable when the business is properly set up.