How to become rich doing Groundnut Business in Nigeria

How to become rich doing Groundnut Business in Nigeria

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Learn How to become rich doing Groundnut Business in Nigeria.Groundnut Business In Nigeria is a literal goldmine and only few are yet to see what lies in this business. A cousin of mine ventured into this groundnut business about two years ago with just 1 cup of groundnut and today, she supply in bags.

When she told me that her mega groundnut business started with one cup, I couldn’t believe it. It took her time to fully convinced me and i was wowed. Many people usually look down on this lucrative business, simply because they feel they are degrading to worth. That is a mindset that makes one poor forever.

How to become rich doing Groundnut Business in Nigeria

Most of these businesses often overlooked are usually the business that makes one a millionaire. A man once said that the best ideas are usually the simplest. This article is going to be well detailed. It will be able to guide you on how to start a groundnut business in Nigeria with just little capital. If you can start huge, then you’ll be able to supply to retailers and make enormous gains at the end of the day.

REASONS WHY GROUNDNUT BUSINESS IN NIGERIA IS VERY LUCRATIVE

1. EVERYBODY EATS GROUNDNUT – Do you know anyone that hates eating groundnut? I doubt. The only people I know that detest groundnut is usually folks who keep battling with acne. It has been scientifically proven that groundnut doesn’t cause pimple. Dirt and blockage of the skin pores do. Although some people are yet to be convinced otherwise.

How to become rich doing Groundnut Business in Nigeria

2. HIGH DEMAND – Once groundnut is available, there’s always a demand. There are individuals who feel that they are addicted. I have a friend who does. High demand is one of the reasons why groundnut business in Nigeria is very lucrative. Per person can eat about N200 groundnut a day and still demand for more.

How to become rich doing Groundnut Business in Nigeria

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3. EASY TO START – Groundnut business is among these businesses that you can start easily and yet, make mind-boggling returns daily. You don’t need any technical know how. All you have to do is buy from the nearest market, fry and sell to either retailers or wholesalers.

4. NOT CAPITAL INTENSIVE – With N2000, you can start this business and sell to the final consumer. To start big and supply to retailers, then you need to buy a bag of groundnut which is currently over N35,000.

How to become rich doing Groundnut Business in Nigeria

PROFIT POTENTIAL IN GROUNDNUT BUSINESS

According to my cousin who’s now a mega supplier of groundnut, when she started buying in paints which is currently N750, she makes about N500 gain in return. If you’re to buy in bags, then be rest assured that you’ll make a profit of about N20,000.

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However, you’ll need extra hands if you’re starting big. Starting big without employing anyone will hamper the growth of the business. If you do this business well on a large-scale, you’ll be making at least, N50,000 or more, depending on the size of the business.

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How to become rich doing Groundnut Business in Nigeria

You can start with 10 cups, 1 paint or a bag. Depending on your financial strength . The size you start with will determine how you’ll sale and how much you’ll realize. If you’re starting with a bag of groundnut, then you’ll need to fry and supply to retailers. When buying groundnut, go for those seeds that are not too big or small.. Make sure they are healthy before buying.

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