BusinessHABPalm oil Supply Business: Palm oil is derived from the fruit of the oil palm tree.
Which is grown in tropical regions of Nigeria.
While palm oil producers rely on different techniques to extract this oil.
The basic steps involved in palm oil production remain the same.
Manufacturers must plant a supply of oil palms.
And oversee their care through maturity.
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Palm oil Supply Business
The fruit of the tree can then be harvested and processed to release the oil.
The final step in palm oil production involves purifying the oil to meet the demands of various users.
Palm oil is one of the most used oil in Nigeria.
It well recommended for when it comes to health.
Palm oil is widely recognized but mostly popular in some African countries.
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It is used for producing so many things, foods and more.
Starting a Palm oil Supply Business is an excellent entrepreneurial opportunity.
As long as you separate yourself from the competition.
This article contains a friendly, comprehensive guide that demystifies what it takes to be successful.
Thinking about opening a Palm oil Supply Business?
We tell you what you need to know to get started.
Palm oil Supply Business:
1. Creating Business Plans for a Flour Business
Never underestimate the value of a good Palm oil Supply Business plan.
With the right methods, a business plan can help your startup secure financing, attract investors and execute a strategy for growth.
To assist your efforts, you may want to consider enlisting the aid of a professional business plan writer.
Time and time again, the best entrepreneurs we see rely on professionally crafted plans to guide their decision making.
However, outsourcing doesn’t completely eliminate your responsibilities in the writing process.
Startup entrepreneurs are well advised to materially participate in the writing process.
Even after they have engaged a proven professional.
See also:How to Export Palm Oil from Nigeria
Palm oil Supply Business:
2. Investigate Competitors
Well in advance of opening a Palm oil Supply Business within your community.
It’s essential to find out how many competitors you have.
Try our link below to get a list of local competitors near you.
Just enter your city, state and zip code to get a list of flour businesses in your community.
Is the local market large enough to support another Palm oil Supply Business?
If not, you had better be sure that you are doing things much better than the competition.
Palm oil Supply Business:
3. Talk to People Who Are Already in the Business
If you want to open a Palm oil Supply Business.
Be sure to have a conversation with someone who is in the business.
It’s very unlikely that the local competition will talk to you.
The last thing they want to do is help you to be a better competitor.
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Fortunately, somebody who runs a Palm oil Supply Business outside of your community.
May be willing to share their entrepreneurial wisdom with you.
As long as they don’t view you as a competitive threat.
Many business owners are happy to give advice to new entrepreneurs.
Palm oil Supply Business:
In my experience, you may have to call ten business owners.
In order to find one who is willing to share his wisdom with you.
The key question new becomes: how to find a Palm oil Supply Business owner.
Who is willing to talk to you but doesn’t live nearby?
It’s not that hard. Just use the handy link below and enter in a random city/state or zipcode.
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4. Should You Buy or Start a Flour Business?
As an aspiring business owner.
The decisions you make now will have huge implications later.
Including the decision to either start a business from scratch or buy an existing flour business.
Time and time again, we see entrepreneurs struggle to launch a new Palm oil Supply Business.
When they could have bought a first-rate Palm oil Supply Business.
When you buy an established Palm oil Supply Business.
You gain access to a functional business operation with a customer base and a steady revenue stream.
If you can’t find a suitable Palm oil Supply Business for-sale, you’ll need to start a new business. However, in today’s business-for-sale marketplace, there is an abundance of Palm oil Supply Business worth considering.
See also:How to Start Palm Oil Investment in Nigeria
5. Consider Buying a Franchise
The odds of doing well in business are greatly increased.
When you choose to franchise in lieu of doing everything yourself.
Before you get too far along in your plan to open a Palm oil Supply Business.
You should determine whether purchasing a franchise might simplify your entering the business.
The link below gives you access to our franchise directory.
So you can see if there’s a franchise opportunity for you.
You might even find something that points you in a completely different direction.
6. Get to know the season
Palm oil has its seasons and times.
During the palm oil peak season which usually start from February through April/May.
It is during this period that you’ll be able to buy at a very cheap price.
And store till the off-peak period in other to make huge return in the business.
This is why it’s paramount to start with a huge capital and a warehouse in place.
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7. Finance
To make it big in this business.
You’ll have to budget at least N100,000 to N1 million.
For example.. If you start with N500,000.
You will realize that amount in 4 months time without any added effort.
Irrespective of that, start with any amount you feel comfortable with.
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8. Get a warehouse
This is just for storing your gallons of red palm oil.
If you have an unoccupied room, it will serve the purpose.
But it’s best if it’s near the market for easy supply.
You don’t only need a shop, you’ll also need a couple of 25litre kegs.
Which will be used to store the palm oil.
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9. Where to buy
There are numerous places to buy palm oil in gallons here in Nigeria.
But the king of all quality, the place I normal recommend for prospective palm oil business persons is Ebonyi State.
Ondo, Abia,Akwa Ibom and Edo state are also among the few number of sources you can buy from.
Just tour the states until you find that which suits you.
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10. Transportation and mobility
This business usually require having your own pick up van.
If you don’t, there’s no problem at al.
You can hire a van that will help supply the oil palm gallons to your base or warehouse.
This is important especially when supplying to your customers.
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11. Marketing
Remember, oil palm is not an all round season commodity.
To make lots of gains; waiting for the off-season or off-peak period will be fantastic.
The off-peak period is usually around July.
Per gallon of oil palm now is around N10,000.
Imagine if you buy for N7000 and sell with that amount.
You’ll be counting millions in no distant time.
Read also: How to Start Palm Oil Investment in Nigeria
Conclusion:
This business is lucrative and fun.
Within six months of start Up, you’ve built an oil empire.
You can sell almost to anyone; to wholesalers, retailers, hotels.
Even to restaurants. One good thing is, it’s always fresh no matter when how long it has stayed.
This business is one in a million.
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The only requirement is the initial capital to start and you’ll be on way to financial freedom.
There are many benefits that comes with palm oil.
These benefits are driving factors why red oil palm will always be in demand.
This commodity is used to cook any type of Nigerian delicacy.
It’s more commendable than the vegetable oil due to its richness in Vitamin E.
The nutrient is very essential to the skin and help for fast healing process.
It is also believed to have a neutralizing effect on any kind of poison.
The ultimate benefit as it pertains to this article is that; it will make you a millionaire.
BusinessHAB