Groundnut is fast becoming a staple snack, enjoyed by many low, middle and high class people. Whether at home, office or anywhere, the legumes have become the favourite of those who avoid junks or processed snacks. It has also become common item on menus at parties across the country.
The main attraction, which has boosted its demand in the past few years, is its nutritional values, as nutritionists have successfully argued that it boosts fertility, fights depression, boosts memory, as well as lowers the risk of heart diseases.
This development has been the attraction on the part of individuals that pack it for sale, as well as consumers. The Point’s market survey revealed that hundreds of individuals are investing in the business of selling groundnuts in several attractive packages, in order to make ends meet, especially with the current economic recession.
Also, investment analysts are optimistic that the current investors cannot meet the demand of the product, asking others to join the league of investors. Depending on your target consumers, the product can be packed in several sizes and definitely in different prices.
For instance, while a 75cl bottle of groundnut costs between N400 and N500, half of that goes for N250 and small polythene packs go for N100 or N50 respectively. If you are starting this business, have it in mind that you will make huge profit, as it does not require a huge start-up because, with about N15,000, you are already in business. The first major duty is buying the raw groundnut in large quantity and getting someone to handle the frying.
GET ORDERS FROM DIFFERENT PLACES, OR REQUESTS FOR THE SPECIALLY PACKAGED PRODUCTS. BEFORE YOU KNOW IT, YOU WILL FIND YOURSELF EVEN OFFERING PAY-AFTERSALES SERVICES AGREEMENT WITH SOME STORES
• Make provision for different categories of buyers.
• Use salt minimally.
• Include necessary details on the label
• Make the groundnut crispy and fresh
• Maintain high personal hygiene.
This can be operated within your compound, so there is no need to rent an office or set up a factory. Groundnut is not expensive; the nylon for packing is also not expensive, likewise printing. One advantage of packaging these already popular products is that it gives you a competitive edge over the regular local sellers.
The Chief Executive Officer, Jamaah Global Resources, Mr. Abiodun Esho, explained that starting a groundnut business does not require a huge start-up, as all that is required is the buying of the raw groundnut in large quantity and getting someone to help do the frying.
LOW START-UP CAPITAL REQUIRED
You can start the groundnut business with just N30,000 as the equipment needed is just a tripod stand and a medium size frying pan, which costs between N17,000 and N20,000; then N10,000 to buy 15 ‘mudus’ (aluminium container popularly used by the Hausa) measures (3.39 kilogramme) of groundnut and other needed items, then decide the kind of fried groundnut you want, whether it is the type fried with ashes or sand, salted or not as their tastes differ.