The COVID-19 pandemic has left a lot of employees and entrepreneurs without a viable source of income due to the nationwide layoffs and social distancing restrictions. Even those not directly affected by this are also seeking alternative sources of income just to meet up with the inflation rate, electricity hike, oil increase and current economic state of the country. Whichever category you fall into, you can agree that it has become increasingly difficult to live in Nigeria during these times and we’ve come up with a possible solution.
Are you looking for a business idea to start during this pandemic? Something to help you stay afloat of all the bills and care for your loved ones? Here are the four top reasons why we recommend a frozen food business:
- It is always in demand.
- It’s easy to start. Starting a frozen foods business in Nigeria is easy because you don’t need a certificate or level of schooling to begin.
- It is highly lucrative. With the high level of demand for frozen foods in Nigeria, it is possible to make up to 10% in profit daily, depending on your location and the quantity you sell each day.
- It can serve as the perfect side hustle and as a passive source of income.
However, to run a successful frozen foods business in Nigeria, there are some essential requirements that you must have. They include:
Scouting a good business location is the first most important step to consider when starting a frozen food business in Nigeria. Ask yourself, where will you be running your business from? Due to the current economic realities, it is advisable to start small. If you can afford a shop in the popular markets in Nigeria, that would be ideal. If you can’t, you can also set up and run your business from your home. The important thing to note is that this location should be easy to locate and accessible to customers.
The next thing you’ll need is a working freezer and a constant source of electricity. The epileptic power supply in Nigeria can serve as a major drawback for most entrepreneurs, especially frozen food traders, for whom electricity is crucial to their business survival.
Now, you no longer have to worry about this because Koolboks has created an affordable solution for everyone! With as low as N12,000, you can own a solar refrigerator to start your frozen foods business. Utilising the natural power of the sun, the Koolhome solar freezers can last for up to 4 days in the absence of power or sunlight and it comes with external LED bulbs to light up your shop at night and 2 USB ports to charge your mobile phones. What’s more? Koolboks offers an installmental payment plan in which you receive your Koolhome freezers, have it installed in your home or business and pay as low as N12,000 monthly over a 24-month period to own the product.
As with any business, capital is needed to buy goods, pay for shop rent, business maintenance and all other running costs incurred. Sources of capital could be from personal savings, loans from family and friends or microcredit facilities.
There are a lot of food items that can be sold frozen, so it’s important to choose your business focus. While seafood and poultry products appear to be in greater demand, you can decide to also sell other frozen perishable food items, to give you an edge over other vendors.
Running a frozen food business can be very advantageous in this part of the world and can serve as a sustainable means of income during these times, especially with a solar freezer to make things easier.
Watch what a frozen food seller had to say about the Koolhome solar freezer:
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