Popcorn Business in Nigeria.
The prevailing economic situation in Nigeria today also provides an opportunity to start small-scale lucrative businesses. Your ability to provide meaningful solutions to problems as an entrepreneur is a vital open door to financial breakthrough. Small-scale business-like popcorn production with a relatively low start up capital can in the long run bring huge fortunes.
Starting Your Popcorn Business
Popcorn is a popular delicious snack consumed by many people, made from heating variety of corn. Popcorn is consumed by many people for certain reasons, some as an alternative to regular food, some other for its tasty crunchy nature while for others take it for relaxation in cinemas, amusement parks, game night, events, etc.
How Much is Needed for a Popcorn Business.
Popcorn business can be started with a little amount and the robustness of the business is determined by the amount of money that is invested into the business. You can start the business with a low capital of #20,000 for small scale production. For a larger scale production, capital above #100,000 is required as it can enable you buy bulk of the items needed for the business.
Feasibility Study for Your Popcorn Business.
Feasibility study is needed to be carried out on your targeted customers, the market to sell your product, and your potential competitors before venturing into the popcorn business. You should find out about the popcorn price of other competitors, the quality of products and the existing quality in the market.
This will help your product stand out from the crowd as you can’t afford to bring popcorn with less quality into the market due to the numerous number of competitors in the business. You can carve out your own niche by offering something different from what people are used to.
- Places to Sell your Products. You should also consider who your targeted customers are as this will save you stress. The following can be considered as good targeted customers;
- Local Stores
- School kids
- People at carnivals and fairs
- Hotels and restaurants
- Religious places of worship
- Retail outlets
Gather Your Raw Materials
In order to get quality raw materials, you need to get good suppliers with affordable prices of the materials needed for your popcorn business. You can find good suppliers from major markets around you or by searching online. Materials needed are;
Corn: This is the major material needed for your popcorn business and you will need to get the best suppliers of quality corn with affordable prices.
Sugar, Salt, Butter and ither Ingredients: This is needed to produce popcorn with yummy taste and you can get these items from your local environment.
Machine: There are different types of popcorn machines in the market. Since you are starting on a small scale, you can go for the one with gas cylinder instead of the electric machine as it is cheaper to maintain.
For packaging your product, you can choose to use nylon bags for this. can choose to use nylon bags for this. You can package #50 worth of popcorn in small nylon and stock more quantity of the small nylons in larger bags. You can sell at wholesale and retail prices which will depend on the customer you are supplying to.
With good planning and proper market survey, you can be making more #5000 naira daily, which is possible if you have customers you sell for wholesale at discounted prices. These customers can sell in their stores and also make profits and the business goes on.
You can also bid for contracts to supply popcorn at events like children parties, get togethers or for families.
Popcorn is a lucrative small-scale business that anyone who wish to start a business with low capital can venture into and scale up. What is required of you is to be proactive and consistent with the quality of the product you are selling to the market.