How To Start Crayfish Business In Nigeria

In this article, we shall be discussing on how to start crayfish business in Nigeria. Crayfish is one of the most important ingredients for cooking your food and it is highly sort after in Nigeria because of the way it pleases the taste buds in our delicacies. Most times, without this sea food which is rich in protein, cooking can never be the same, that is why it is high on the list of ingredients for preparing sumptuous meals by really good cooks who appreciate its importance.

How To Start Crayfish Business In Nigeria

In order to start crayfish business in Nigeria, it is very important that you look for trusted dealers in the business that can supply you with quality products that offer you good value for your money. Some of the best crayfish dealers in the country are located in Oron, Ibaka and Ibeno in Akwa Ibom State; and Calabar in Cross River State. Both oil producing States are Niger-Delta States located in the South-South Geopolitical Zone of the country. They are also two of some of the richest States in Nigeria as well.

COST OF STARTING CRAYFISH BUSINESS IN NIGERIA

In order to kick start your journey into crayfish selling in the country, you will need an amount ranging between ₦25,000 – ₦100,000 or more. It could be less but if you really want to take the market by storm, the aforementioned prices should be just enough to launch your crayfish business and keep you afloat pending when you sell all your crayfish and make the profits needed to keep you in the business. Like we have stated earlier, crayfish sourced from Oron, Ibaka, Ibeno and Calabar are some of the best in the country but if you do not want to go that far, you can also source your crayfish from Ondo and Bayelsa States, as well as in Oyingbo or Iddo Markets both in Lagos State.

You may buy your crayfish from different sources or different markets in the country but you should bear it in mind that prices in the country are not uniform so based on the location of your purchase, wholesale prices for quarter bag can go for between ₦20,000 – ₦30,000, half bag can cost between ₦35,000 – ₦45,000 thereabouts while full bag can cost from ₦50,000 – ₦80,000 or more. These figures are estimates in order to guide you on how to raise money to start up your crayfish business. Overall, you will need anything between ₦25,000 – ₦100,000 to start your crayfish business as we have mentioned earlier. A retailer can decide to purchase quarter bag or half bag and sell at market prices ranging from ₦150 – ₦5,000 or more, depending on the purchasing power of their customers.

STEP BY STEP PROCESSES ON HOW TO START CRAYFISH BUSINESS IN NIGERIA

Below are the guidelines on how to start crayfish business in Nigeria this 2020:

STEP 1: CARRY OUT A RESEARCH ON THE BUSINESS

This may be in the form of a market survey or feasibility study. One of the most important steps in starting a new business venture is to understand how it works in your area as well as consumer behaviour towards that particular product. You may also ask those who have ventured into it before you for advice on how you can start the business and grow it without facing much difficulty.

STEP 2: GET YOUR FINANCE READY

Every business venture requires a starting capital and the same is applicable to your crayfish business. Once you have decided that this is what you want to do, then the next step is to make available the finances for the business so as to start as soon as possible.

STEP 3: GET A GOOD LOCATION FOR YOUR CRAYFISH BUSINESS

Another step to take after you must have made available your finance is to look for a very good location for your crayfish business. A strategic location for your crayfish business can work wonders for you. Large markets are great places to look out for when you want to secure a shop for your business.

STEP 4: FIND A TRUSTWORTHY CRAYFISH DEALER

In order to stay afloat and remain in the crayfish business, it is very necessary that you get a trusted dealer that will supply you with the particular type of crayfish you need to sell to your customers and ensure that they deliver to you in time so you don’t run out of stock. Also ensure that your dealer gives you stock at the right price.

STEP 5: DISTRIBUTION OF YOUR CRAYFISH TO YOUR CUSTOMERS

Some of your customers may not have the time to come to the market to buy your crayfish and as such, it is up to you to deliver the product to them at an agreed location. When this happens and they have placed an order, try as much as possible to deliver on time to build relationships with your customers. One thing you should never do is to go to places that you are not sure of or places you suspect are dangerous and if this is so, you can agree on another venue with your customer that you are okay with for delivery.

STEP 6: ADVERTISE YOUR CRAYFISH BUSINESS

In order to get as many customers as possible, you should make sure to advertise your crayfish business using the channels of advertisement available to you. Social media, print media (fliers, posters etc.), word of mouth can help you expand your customer base, directly impacting your business positively.

TOP CRAYFISH DEALERS IN NIGERIA

There are top crayfish dealers located in almost every part of the country but those in this list are those we trust personally and they deliver nationwide.

INSPIRE FOODS

Inspire Foods is located in the Iju, Ifako Ijaiye area of Lagos State and their crayfish is top quality. For those who do not have the luxury of going to Oron to buy, Inspire Foods has helped you plug the gap by selling to you impressively packaged, sand-free Oron crayfish at affordable prices. Their contact number is 08029152069.

HONEYCOMB FARM DEPOT

This crayfish dealer is located in the Satellite Town area of Lagos State. They are also into stockfish business in Nigeria and you can get good value for your money from them. Their contact number is 09032595416 and they deliver nationwide as well.

THE CHALLENGES OF CRAYFISH BUSINESS IN NIGERIA

Once you buy your crayfish, try as much as possible to sell them in record time, this is because if fresh crayfish stays longer than usual, it reduces in size and it will be very obvious to you that the size has changed as opposed to when you first bought your crayfish.

Also, try as much as possible to ensure that there is no moisture content in your crayfish as this will lead to it developing moulds or it will become ant infested, and you as a dealer wouldn’t want this as it will be bad for your business, giving you great losses that you wouldn’t like.

When you go to buy your crayfish, ensure that it is not stuffed in the bags with dirt as some crayfish sellers do this to give the bag a full appearance. Make sure you do not fall victim else you will lose your hard earned customers and their trust. Check thoroughly your goods that you have ordered on wholesale before transporting them to your warehouse to avoid stories.

Another challenge this business can face is the delay in supplying your crayfish. Supplies may take longer due to unforseen circumstances and this may negatively impact your business. Also try as much as possible to reduce the way you sell your crayfish on credit, it will cost you dearly.

CONCLUSION

Crayfish business is great and anyone can venture into it and succeed as you do not need to go to any special school to learn the rudiments of the business. This business generates great profits because it is in high demand. If you really want to achieve success in this business, you should treat it very seriously and with time, your business will blossom.

The Author

Maduawuchi Obialo

Maduawuchi Obialo is the founder of Nigerian Guide and an Editor at Nigerian Infopedia. He is a professional Web Content Developer and a Biochemist.

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