Egg supply business is certainly one of the fastest ways of getting rich in the poultry business. You can completely rely on this business to take care of your bills. Many Nigerians who are engaged in this business can testify that this business rakes in a substantial amount of money to their bank account.
Due to the high demand for eggs, you’re sure of making a huge profit from this business if you choose to take action after reading this step by step guide.
There’s no business that doesn’t require capital. No matter what the business is, there’s always a minimum capital and Egg supply business isn’t an exception. To effectively start this business, a minimum of N800,000 is required.
With just N130,000 You can buy as much as 100 crates of eggs. So imagine buying a crate of egg for N1,300 or less from a farm and you sell for as high as N1500 per crate, you can quickly do the math to see how much you’ll make from more than 100 crates. If you can sell 1000 crates weekly, you’ll be making nothing less than N1,500,000. That’s cool cash, right?
Get a Business Vehicle
Although getting a vehicle isn’t necessary it will save you lots of stress. Many Nigerians who are just starting this business use wheelbarrows for this business. But this method will limit your movement. Getting a vehicle will help you cover more areas than the former option. Cost of purchasing a vehicle constitutes almost 85% of your total capital. Then maybe, 5% can be used for fueling purpose. As the business grows, you can begin to service your vehicle periodically to avoid breakdown.
Find Your Target Market
Getting eggs from farms isn’t a big deal, but getting the right customers to supply should be what you should consider. Your target area should be an environment that is densely populated. It could be marketed anywhere that favours your business. Once you know where to supply and have contacts of one or two customers, you’ll only need to go to that area to distribute the eggs.
Also, to start buying and selling eggs, you should connect with one or two farmers who are going to be your constant supplier of eggs. you can register with any farm of your choice and be consistent in your sales.
Other Important Working Tools
The most important tool needed for egg supply business is empty crates. The crates can be of a paper type or plastic type. You can buy 1000 pieces of crates for N7000 if you choose to buy the paper crates and the number of crates needed for your business depends on you. It is advisable to buy paper crates as it protects the eggs from unusual cracks and it is cheaper. However, it gets damaged faster than the plastic type.
Estimated Profit in Eggs Supply Business
In this huge goldmine, you are certainly your own boss and you decide the profit you want to make in a week or in a month. Depending on the size of eggs you choose to buy, you’ll gain roughly N200 on a crate of egg if you choose to be a wholesale seller but if you choose to be a retail dealer, you can be making as much as N500 on a crate of egg. If you choose to sell 200 crates weekly, you’ll be making N20,000 weekly and N80,000 monthly.
If you set a target to sell 1000 crates weekly, it means you’ll make a profit of N100 x 1000 crates = N100,000 weekly and multiplying this by 4 gives you N400,000 monthly. If you deduct all your expenses for the month, you’ll still have a substantial amount in your bank account.
Buying and selling eggs might look like a dirty and an odd business but if you look at the profitability of the business, you’ll reconsider your steps. You can start small and later on move to large-scale egg supply business.
If you are considering going into poultry farming business and you need a business plan, kindly visit here to check out our poultry farming business plan