Here is a look at how to start an egg business in Lagos and how you can go about it to get huge profits.
The food industry is lucrative and brings a lot of profit when exploited well enough.
Every day millions of people in Lagos consume eggs as part of their meals. That has lead to a huge demand for eggs in Lagos Nigeria.
For that reason, there is a huge potential in starting an egg business in Nigeria.
Admittedly, not everyone who has ventured into this business becomes successful, if you follow the right steps, you can make fortunes.
So in this business, you shall all the tips you must use to improve your egg business in Lagos.
Table of Contents
How Much Capital Do I Need To Start An Egg Business
To start the business, one will need approximately 800,000 Naira.
You will need to rent a space where you can sell the eggs and buy the eggs from a farm for around 750 Naira per crate.
With this, you will sell each crate at 850 Naira, getting a benefit of around 100 Naira per crate.
Now imagine the returns of one hundred such crates? Massive profits, right!
Tips To Starting An Egg Business In Lagos
Here are some vital factors to consider when starting an egg business in Lagos:
1. For your egg business to be successful in Lagos, one must start by laying down a business plan that will be followed to the latter.
2. Know what your target monthly profit will be, where you will purchase the eggs, where you will sell the eggs, and how much rent you will have to save to grow fast.
3. Market your business by using online social media platforms such as Facebook, Twitter, and even WhatsApp.
4. Tell your friends and family to help you grow and enlarge your business.
5. Get a business permit and all the necessary permits to run smoothly without any interference whatsoever.
6. Look for a location that has customers. Look for places near hotels or along main roads.
7. Look for a farmer who sells the egg at a way cheaper price to make more profits.
8. If it’s long-term work, there may reach a time you will need an assistant or more employees to help you with work. Look for someone ready to work and up to the task.
9.Do research on your target audience and competitors who have ventured into the same industry.
10. Know what they want, what is in most demand, what is their greatest strength and weakness in the business.
Is the egg business profitable in Nigeria?
The egg business can be done with almost anyone as it does not need any special skill.
It is quite lucrative as all you have to do is sell and keep stock of all the sales and purchases.
For profitability, almost everyone loves eggs, so you cannot go a day without selling some crates.
That isn’t all, but for now, you can start with this information. We shall do our best to add more relevant information with details soon.