The food industry is one of the most profitable business niches in Nigeria. However, someone food business ideas are more lucrative than others.
Therefore, in starting a food business, it will be a wise decision on your part to go for only those food businesses with high-profit turnover.
According to research, 80% of new businesses shut down in their first year. This shows that running a new business is a tough task.
If you are planning to start your own food business, having a passion for the food industry is not enough. You need to have a profitable food business idea that is not only in demand but unique too.
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And here I have come up with profitable food business ideas that you may likely to consider in order to start your entrepreneurial journey. Let’s get started!
Profitable Food Business Ideas In Nigeria
1. Delivering groceries to homes
There are persons that work round the clock. Most of these persons barely have time to look out for the family, let alone shopping for groceries.
A profitable business idea is filling an unmet need. You can take advantage of this opportunity. Startup a groceries home delivery business and supply to these homes. You can start this business from your neighborhood.
Clients will simply give you the list of items they want from the market, pay you for the items for you to buy them from the market and also pay you for your service.
In no distance time, you will be surprised at the number of clients you will be taking orders from.
Always buy from vendors with cheaper price and quality products in order for your client to get the best value for the money they spend. This will help to strengthen trust in your client and earn you more recommendation.
2. Catering services
If you're among those who are skilled in-home cooking, then you can start up a catering business with it. It's simply a case of turning what you already know to business. So, if you can serve people then, you can start this business.
Away from the monetary gain of this business, it affords you the opportunity of meeting people from various works of life.
To succeed in this business, you must, however, ensure that you're very good at it or better still, hire persons who are good at it.
Other areas worth looking at in this food business, is your customer service approach. How you treat your clients during and after serving them will atone whether they will return back for another service or even recommend you to their friends and family.
As part of your customer service, you can offer to clean up the environment used for the event after the occasion. This will give you an edge over others who don't offer this. And of cause, this will require that you recruit capable manpower to work with you.
3. Opening your own bakery
Bakery business is also one of the profitable food business ideas that you can start in Nigeria. This business doesn't necessarily require you to reinvent the wheel. In a nutshell, you can start baking using other people’s recipe or you can decide to create your own if you are workmanlike.
Although, running a bakery business requires lots of startup capital, but it is really worth it. First, you will need to acquire a space/store and the necessary equipment to start with.
Interestingly, this business can be done in your leisure time.
4. Food truck business
Some persons may not have the wherewithal to run a brick and mortar restaurant. This, therefore, is a perfect alternative. Food truck business is cost-effective and with a lower risk of failure.
All you need to start this business is a truck and a smallish food preparation station.
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It's important, in order to weasel off competition to pick a particular food type that you are good at preparing for the business. Don't make the mistake of trying to become Jack of all trade, and make a mess of yourself.
Another important thing to look out for is the business location. Before you start, identify a good business location that you can have more customers. And before you even do this, you should have determined who your customers are depending on the type of food you will be selling.
5. Preparing special dishes
This is another profitable food business idea to think of in Nigeria
Recently, the numbers of people with food allergies have increased. And this has created a special interest for certain food in order to stay healthy.
You can take advantage of this circumstance as a business person while helping these set of persons going through their averseness for certain food.
If you have an interest in this business, all you need do is a little research on your target customers, their location and how to prepare their special dishes. And you're in for business.
You can as well work with health service providers in your area to help you reach your target customers.
7. Foodie Blogger
In Nigeria, one of the fastest and easiest ways to make money is through blogging. If you're a foodie, then starting a food blog may just be a good opportunity for you.
You can start writing, via voice note or video about traditional Nigeria food recipes and share in your blog. As time goes on, you can expand to continental dishes. Unlike other food businesses that require you to have a physical location or work for someone, a food blog doesn’t require all that. You simply start a blog from the comfort of your home.
Interestingly, you can earn income through a variety of ways such as having an online paid tutorial, affiliate marketing, advertising, or creating your own products such as a cook eBook.
Also, you can work venture into this on a part-time base.
8. Become a personal chef
Maybe you enjoy cooking but don’t want to take up the task of serving a large audience under catering; this is another profitable food business idea for you. For you to become a cook for someone, you must be a proven personality.
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Some personal chef works in the client home while others do cook and deliver to the client.
9. Start a Restaurant Business
The food industry is ever-expanding. Starting a restaurant business won't be a bad business idea at all. However, this requires meticulous planning and a good chef to scale the business.
10. Fast Food Joint
There is no doubt that this food business is highly lucrative in Nigeria. Bad then in the university, I patronized the person's that run this business a lot.
You can start this with little capital except for the fact that you need a shop to start with.
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The food industry in Nigeria and globally is one industry that will never cease to perform well. People eat every day. Thus, food is always going to be an industry with high demand.
The listed food business ideas are highly profitable, but require you to be dexterous and know how to position yourself to get a high paying client.