Overview of Cold Room and Food Preservation Business in Nigeria

Cold room business in Nigeria, likewise referred to as frozen foods business, is just one of the most lucrative businesses to start at any time, or season. While many people have no idea that this money-spinning business is profitable, a lot of Nigerians have ended up being multi-millionaires as a result of investing in cold room and food preservation business. It is nearly impossible for people to eat a meal without accompanying it with a fish, meat, or chicken, thus the need for more cold room and food preservation business in Nigeria. This business is not as competitive as the majority of the businesses out there. From fish to meat, turkey and chicken, there will constantly be a demand for frozen foods consumption daily.

Potentials of Cold Room and Food Preservation Business in Nigeria

Cold room and food preservation business is becoming more lucrative day after day in Nigeria. The rate at which it is demanded has geometrically increased. Fresh food is conveniently available at the village however in the cities, it is not the situation. People are just left with no choice other than to consume frozen foods in the cities.

Steps to Setting up Cold Room and Food Preservation Business in Nigeria

Location

First, you need to try to find a great warehouse which you can make use of as your cold room. The place has to be large and well ventilated in order to ensure adequate preservation of your products.

Identify Your Scale of Business

There are various scales of cold room and food preservation business in Nigeria. You can either opt for the small-scale cold room and food preservation business which would certainly involve selling to immediate consumers or go large scale, which would certainly include manufacturing/packaging or importing your products on your own.

For people that wish to engage in small-scale cold room and food preservation business, all you require is a good shop, refrigerators or a mini-cold room, consistent power supply and obviously, access to affordable supply of products.

Registration with NAFDAC

Since you would certainly be dealing with consumable food items and might likewise be importing a few of your products, it is required to register with NAFDAC. You can go to their site, www.nafdac.com to learn more on this. Nevertheless, this is just needed for large scale businesses.

Determine Products to Sell

You ought to look around you and do a thorough research on one of the most profitable products to sell. I might inform you that Frozen Fish and Chicken are a few of the fastest selling products however suppose it does not sell in your area because of stiff competition? The onus therefore rests on you to identify what products would certainly sell much faster and much far better in your location.

Construct a Cold Room

You have to hire a person to build a cold room for you if you cannot pay for already-made ones. If you are operating your business on a big scale, refrigerators alone may not be sufficient.

Constant Electricity Supply

PHCN is not your pal in this business; they would certainly mess you up. So get yourself a great, solid stand-by generator to give continuous access to electricity. This is incredibly crucial to avoid goods going bad because of lack of electricity.

Determine Source of Supply

Where would you obtain your goods from? This is a crucial choice to make. If you are venturing into frozen fish, meat or turkey business, it is possible for you to process and package your products on your own. You might have a farm where you would rear live chickens or animals and after that have them slaughtered and processed for sale after maturity. You can likewise process and package various other products on your own. This would certainly guarantee you more profit compared to when you import products. Other things you would require for this business include packaging supplies, measuring scales, tables, polythene bags or cartons, bowls, cutlass, knives and support personnel.

Overview and Features of the Excel Template

The excel template comes with a powerful presentation and a thorough financial analysis and model for succeeding in this business venture. The template will enhance your chances of getting grants, attract investors and bank loans.

Inside this template, you will get:

1. 3 years Income Statement.
2. 3 Years Financial Position
3. Cash flow Statements
4. Trial Balance and Account Charts.
5. Automated Macros to make the template faster, user friendly and accurate with little or no manual input.
6. 24/7 Support from our team of financial experts and analysts.