The food business is one of the lucrative businesses to start in Nigeria; therefore, I will list nine food business ideas to Launch In Nigeria.
Everybody needs food to survive. That is why the food business is one business venture that will always be profitable.
There are many crops, animals, and other types of food that one can start selling in Nigeria. It does not matter your geographical location. You can start up this business.
You might not need a shop to start a food business. Food items can be sold on the roadside, in the market stalls, Hawking, public spaces, or during events.
Note: You should not start your own food business without doing some research to see if it would succeed in your area. It would be best if you did not sell certain sorts of food in specific regions because you will suffer from a lack of customers.
Requirements For Starting A Food Business In Nigeria
Start-Up CapitalBefore you start any of the food businesses listed in this article, you’ll need to raise funds. Your capital can come from your daily savings. Friends, neighbors, and associates can help you borrow money.
Cash loans from microfinance banks, banks, lending apps, and different financial institutions can be another option to raise money to help you achieve your business’s goals.
- Hire Employees
You won’t be able to earn the best money by yourself. You will require the assistance of employees who will work for you.
It will be fine for you to begin on a small basis. You’ll be okay with 3 to 5 employees. Select the employees you wish to employ and pay the maximum amount you can.
3. Your business’s location
Create your shop to sell your products or lease a shop for your company. Lease the shop in an open area with a steady flow of regular customers. Prices of shops differ between locations.
Starting a food business: One has to be careful about the nature of the food business they want to start because some foods are perishable while others are not.
In this article, I will give you eight food business ideas you can start up and make huge profits in and outside Nigeria. There are listed below. Could you choose any of them and startup?
9 Food Business Ideas
- Catering Services
This is one business you can start in Nigeria. If you are talented in cooking and have excellent cooking skills, this food business idea is for you. You can also take classes in catering at a catering school for six months.
Cooking for public occasions such as weddings, burials, birthday celebrations, graduation parties, church conferences, and political rallies entails preparing dishes and soups. In Nigeria, catering services are in high demand. Many people prefer to have professional chefs prepare their meals for their parties.
This business does not require a large sum of money to start; you just spend money when you are invited to cook on special occasions. There is no loss in the business because you have already been paid in full for the cooking.
Just start your catering services at some events, and as time goes on, you will be hired by big brands and private individuals to cook at their parties.
As you make money, you can hire assistants that will help or assist you in cooking. You don’t need to have an office or shop to start this business.
Another lucrative and profitable business that may be started in and outside of Nigeria is a bakery. Bakeries manufacture cakes, bounces, biscuits, meat pies, fish pies, egg rolls, cornflakes, and popcorn, among other loaves of bread and pastries.
You do not have to limit your production to bread and pastries; you can also make drinks such as Zobo, fruit juice, tea, and other soft drinks.
You can start your own bakery from your kitchen if you don’t have the funds to establish or rent a bakery. Shops, markets, and supermarkets will buy your bread and pastries.
Remember, the rule is to start small and grow your business as your revenue grows.
3. Fruit Mart
This involves the selling of fruits, both seasonal and non-seasonal. You can sell your own fruits produced in your garden or buy them on a small scale from farmers as a retailer.
Fruits one can sell at fruit marts are apples, cucumbers, Udara, pineapple, orange, banana, watermelons, lemon, grapes, pawpaw, and pears. Arrange the fruits in a way that will attract customers to buy the fruits.
If there is not enough capital to start a fruit mart, you can sell your fruits on trays by the roadside, or alternatively, on stalls in fruit markets around your neighborhood.
4. Grocery Stores
It is a store where food and household utilities are sold. They are like a form of a supermarket where they sell uncooked food, pastries, ice cream, soft drinks, snacks, beverages, and kitchen items.
A grocery store is a store where you can sell food and household items. The amount of capital required to set up a grocery store is a little bit huge.
In Nigeria, you can open a grocery store with a minimum capital of $1,200, excluding shop rent. According to Provitableventure, the average grocery store startup cost in the United States of America is $25,000. It is profitable if established in an urban setting.
A restaurant is a company selling cooked foods and cold drinks. Restaurants assist in providing food for those who do not have the time to cook. Restaurants offer a variety of food dishes to their customers.
Restaurants prepare rice, beans, plantains, and various soups and salads. Restaurants have a menu with a variety of foods from which their customers can choose. Starting a restaurant may necessitate at least $1500 and above in start-up capital in Nigeria. Rent a store, hire employees, and serve food in your restaurant.
6. Cooking Classes
Another food business that you can start online or offline is cooking classes. If you are a good cook, you can earn money by teaching others how to cook.
You can earn money by charging people to teach them how to cook. It could be in the form of a physical cooking class, video tutorials sent to them, or an ebook.
People will pay you to teach them how to cook delicious Chinese dishes and international recipes because they are in high demand. This is a business that can be started with little or no money. You can start with as little as $100 and sell videos of yourself cooking to your students.
7. Personal Chef
You will be hired to cook and prepare food for a private individual and his family. In their kitchen, the personal chef will prepare meals for their clients.
Personal chefs plan meals, go grocery shopping, and package and store food for their bosses. You will be given money to purchase food ingredients in order to cook for them.
A rich man or woman may hire you to cook for them if you are a good chef or cook. Personal Chefs in Nigeria are paid between $78 and $100 per month, depending on the client’s financial situation, and the salary of a personal chef in the United States is $94329 per year, according to Indeed.
8. Food Exportation
This is the most profitable food business on our list. This is the business of purchasing food and crops such as yams, tomatoes, beans, cashews, ginger, and garlic at low local prices and exporting them to sell at higher prices overseas.
For your exported goods, you will see a merchant. You can sell your agricultural products in the United States, the United Kingdom, Canada, Spain, China, and other Western countries.
Before you can begin exporting foodstuffs, you must first complete a number of protocols and processes, such as business registration, an international passport, a medical examination, and other stringent procedures.
If you can be patient and persevere through all of the time-consuming procedures associated with mini exportation,
If you don’t want to deal with the stress, there are companies that will prepare and ship your products while you sit at home and negotiate prices with your foreign buyers.
The starting capital for a mini food exportation business ranges from 500,000 to 1 million nairas in Nigeria.
9. Food in Kiosk
This is a food business in which sellers sell bread, fried noodles and eggs, suya, Akara, rice, and stew at market stalls, bus stops roadside stands, high traffic areas, schools, and university dormitories.
Food in kiosks is typically set up in temporary booths, stands, or stalls where customers can purchase their food. Food in kiosks can be found in almost every part of our country, Nigeria, including rural and urban areas.
Setting up food kiosks does not require much capital; all you need are some coolers and some money to buy food and ingredients to cook and sell. Starting a food business is a very profitable venture. You can also get started with little money.
Conclusion of Food Business Ideas To Start-Up
I have completed the list of the 9 profitable food business ideas in Nigeria. Choose any food business idea that appeals to you and for which you have the necessary capital.
I recommend that you register any food business ideas you have with NAFDAC and CAC or any local authority in your country so that you are not penalized by legal authorities.
Remember to save your profits and reinvest them in your business to help it grow and expand on a larger scale.
Before you leave, you may be interested in knowing the following: 15 business ideas for ladies in Nigeria 2022.