If you’re looking for a profitable business to start in Nigeria, I implore you to consider crayfish business. You can start crayfish business with just N20,000 and make so much money. In this post, I’ll show you how to start crayfish business in Nigeria with as low as 20k.
You can buy crayfish in bags and resell in bags to those who have shops in the market.
To do this business, it is not must you will have your own shop, but it is good to have a shop.
Crayfish business is one of the most profitable businesses in Nigeria that many people overlook.
Whenever you talk about this business, some people will think it involves joining village market women to sell one kind small sea creatures.
People usually downgrade the business maybe it is because of the small size of the sea creature. Crayfish maybe small in size but the profit in the business is as big as an elephant.
In this article, you will learn how to start a crayfish business in Nigeria and make a lot of money.
In Nigeria, crayfish are used in every household as ingredients to cook delicious food. It’s a source of protein, and almost everybody enjoys eating food cooked with crayfish.
Why Crayfish business in Nigeria?
This is really the part you would like to give special attention. Crayfish business is profitable and can make you a millionaire.
For example; if you purchase around 10 bags of crayfish at the cost of N60,000 and sell at N120,000. That’s N60,000 profit, right?
If the cost for transporting the crayfish is N20,000. Therefore, 120,000 – 20,000 = N100,000.
Let’s say miscellaneous cost is around N10,000, then you will have N90,000 left when miscellaneous cost is subtracted.
If you remove N60,000 that you invested in the business, you will have N40,000 as your profit.
Suppose you bought 20 bags, you profit will be around N80,000 after selling it. Selling it won’t take you time since you are supplying it in the market.
This business is more of supplying crayfish to those that sell it in the market, and nothing stops you from supplying to multiple market and make your money.
I know people who buy 50 to 100 bags of crayfish to sell. Imagine what will be their profits.
Many people have been profiting from crayfish business for a very long time, and they have a secret for success.
If you don’t know the secret for a particular business, you are likely not to succeed.
As for the secret of crayfish business, I will show you all that you need to know about crayfish business.
Just follow the guidelines on this page, and you will smile in your way to the bank. Also, note the business does not end in selling crayfish locally in Nigeria.
You can also make money exporting crayfish to other countries.
I know people who specialize in sending crayfish outside Nigeria, and they are millionaires, buying houses here and there.
Not only they enriched themselves but they also added to the economy of this country.
Since crayfish business required buying and selling of crayfish, let’s look at where to buy crayfish and where to sell crayfish.
”Where can I buy crayfish” and ”where can I sell crayfish” have been the biggest question people who want to start crayfish business always ask me.
Place to buy crayfish in Nigeria
Where you buy crayfish is vital in crayfish business. If you don’t buy it from the right place, you will probably miss out.
Where you buy your goods is the major factor that determines the shape of your business.
For where you will buy crayfish, I would recommend Cross River or Akwa Ibom state.
They have quality crayfish so much that their market is always congested with people who want to buy either for business or for home consumption. Another place I recommend is Cameroon.
Many Nigerians who are into crayfish business buy their crayfish from Cameroon.
Where to sell crayfish in Nigeria?
This is a vital factor in this because. If you buy goods without selling them off; not only that you won’t make a profit but you will lose your money.
Many people who want to venture into crayfish business do not know exactly where to sell after buying, and that is still holding them back up till today.
How to sell crayfish in Nigeria
Below is how to sell your crayfish;
1. Meet market women and become their supplier.
2. Meet those that sell “fast food” and see how you can become their supplier.
3. Meet hotel managers and discuss business with them.
4. Go to offices and supply them i.e. I know someone who go to public primary and secondary schools to supply to teachers.
Tip: Target when they normally receive their salaries.
5. Restaurant can also be a good place to sell your crayfish.
Note: There are many other ways to sell your crayfish in Nigeria.
6. Another excellent way to sell your crayfish is to export to foreign countries. Find a country or countries that crayfish is costly.
How to start crayfish business in Nigeria
Below are steps to start crayfish business in Nigeria;
1. Study the business
Don’t just jump into a business because you heard it is lucrative.
You need to carry out a thorough investigation to know exactly where to begin and how to run the business.
As for crayfish business, you need to find out the folllwing;
- The price of crayfish in the market
- How much you need to start the business,
- Cost of transporting your crayfish,
- How to make as profit, where to buy,
- Were to sell, and if you are to export, find out what it requires, etc.
2. Set your business plan
There is a saying, “If you do not plan to pass, you planned to fail”.
You can write a business plan and strictly follow your plan. If you don’t know how to do this, you can use someone who can.
Remember, your business plan is your road map to success.
3. Get a business space
You will need a place to store your crayfish after buying it; it can be a store or warehouse.
It is from your store that you will send your goods to your customers.
It can also serve as your office, so people can come in their numbers to buy your crayfish.
4. Register your business
It’s very important to register your business with Corporate Affairs Commission (CAC) as your it grows.
Doing this has a lot of benefits. You can see, how to register your business in Nigeria
Tips to start successful crayfish business in Nigeria
1. Let no one know your secret
There is a secret for every business, and crayfish business is not left out.
Try to protect your secret, never let people know about. Your secret can be; where your buy your crayfish, how much you buy it, people you supply to and many more.
If you don’t keep your secret for yourself, then expect to see many competitors.
2. Crayfish packaging
Packaging gives your business more respect and also give you an edge over your competitors. Package your crayfish, make it look extraordinary.
3. Crayfish price
Try to find out when the price of crayfish in the market usually change. This can help you buy as many bags as possible when the price is low.
4. Buy quality crayfish
Ensure your crayfish are of high quality, neat and tasty. You can buy from Oron in Akwa Ibom if possible. They usually have quality crayfish.
How to start crayfish business in Nigeria
- Study the business
- Set your business plan
- Get a business space
- Register your business
Now that you know how to start crayfish business in Nigeria, what will you do, take action or procrastinate?