How To Start Shea Butter Business In Nigeria
Starting your own shea butter production business in Nigeria is like starting every other type of business, as it requires strategic planning, spending in setting up and also in the purchasing of equipments that will make your stat up an easier one.
A Shea butter business plan will help you address many issues as regarding how to start Shea butter business in Nigeria, one of the things you get to learn includes making your Shea butter business a profitable venture.
This business sample on Shea butter production business plan in Nigeria can serve much more purposes than just being a business sample, for many starters, this feasibility study can serve the following purposes and more, see below;
The Business Sample Can Be Used For;
- Application for bank loans – Do you know that banks will take your application much more serious if you add a sample study of the business you intend to start with the borrowed money, this is because every feasibility study should have at least a financial projection which will show how money will be spent and how income will be made.
- Business Proposal Writing – No finance issuing firm will give you their money if they cannot see the possibility of growth with the fund issued, in submitting proposals, these finance issuing firm picks from the best possible proposal, that simply means adding a business plan that was well researched on which also including financial projection, it clearly gives you an edge.
- Sourcing for fund through grants – Applications for grant is one of the ways you can raise money for a new business, especially in the production, manufacturing or agricultural sector.
Note – This is a well researched business plan with fall the required financial projection, marketing techniques, competitive analysis etc…
What Is Shea Butter?
Apart from asking questions on how to start shea butter business in Nigeria, another question that should at least expose you to what this business is all about is knowing what Shea butter is, and the question… what is Shea butter?
Shea butter means so many things amongst which includes being a skin superfood which is made out of seeds of the fruit known as Shea tree (Karite). The seed is known for its skin care potency as it contains fatty acids as well as the required nutrients which can help in collagen production.
Shea butter is predominantly found in West Africa, precisely Nigeria, Togo, Benin, Ghana, Burkina Faso, Ivory Coast, Mali, they can also be found in East and central Africa. The long history of the seeds medicinal use was discovered by the men who first lived in this region, Shea butter is so potent that it can be used on a wound and it can also be used in treating leprosy.
How To Start Shea Butter Business In Nigeria
Before you start spending unnecessarily, here are a few things you should consider before starting your Shea butter business in Nigeria;
- Write A Business Plan – A business plan in this regard should come as a feasibility study, you either write or you buy an already written business plan or you can hire an expert for that. The idea is not to go into a business without having the required knowledge, you don’t want to get stocked after a promising start, one of the worst things that will ever happen to a business man or an entrepreneur is assuming that you can go into a business without a plan.
- Source For Capital – Now that you have a business plan in place, the next thing to do is to raise capital, I’ve illustrated ways you can access fund using your business plan, you can get loans from banks, access grants through application.
- Chose A Name – This is simple, all you need to do is to simply chose a name, then visit a corporate affairs commission office and verify the availability of the name, then apply for the name, the name will be recognised legally as you will be issued a certificate.
- Get Your Equipments – Shea butter requires industrial processing, this is to extract every part of it since it all has its economic value, the machines you need includes (i) for preservation (ii) Processing… it is also important to note that these processes involves huge risk.
- Chose A Location – Get a location that is not too far from the farm if you have one or from your supplier, it should be a space that will contain all your machines. Note that, you have the option of going for the locally made machine, although the one made in china will be more preferable.
- Staff Employment – You need competent individuals to help in running the business you can go for personnel with years of experience in the field or go for those you can train, the bottom line is that they should be hard working.
Finally, financial projections suggests that the venture is very lucrative, although it takes levels processing and manufacturing, GO to Shea butter production business plan in Nigeria, to see the uses and benefits.
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