The Popcorn business today is one of the most lucrative businesses you can think of. With a little amount of capital, proper planning, a good marketing plan and a bit of dedication, you too can actually make millions selling popcorn.
Popcorn is a very affordable and tasty snack that is made from corn which is grown and harvested in Nigeria, making it a very affordable commodity. It is high in several important nutrients, such as vitamins, minerals and polyphenol antioxidants. It is also one of the world’s best sources of fiber, making it a very sought after snack by children and adults and as a result of its popular demand over the years, it has grown to become a very lucrative business venture.
Before we go any further, let us look at the basic things you would require to start your popcorn business.
Other than acquiring a popcorn machine, one of the most important things you need to succeed is knowledge about the business you are about to venture into. Notwithstanding the fact that it is quite simple to start, you will still require some basic knowledge on how to start and sustain your new business. This will include knowledge on how to set up, where to set up, how to market, and how to actually prepare your own Popcorn using your machine. Fortunately, a lot of this information can easily be found online and all you have to do is take some time out and research it. You can also speak to someone who is already in the business or take up a short course on this subject but if all else fails, you can always do some research on this subject.
Like every other successful business, Location matters a great deal and your new Popcorn business is no exception. If you want to succeed, you will need to identify and understand your target market because there is no point setting up your business in an area where you are least likely to get customers. Having said that, you need to target locations that are close to universities, secondary/primary schools, shopping malls/complexes, petrol stations, garages, markets and other areas that are generally highly populated with a lot of foot traffic. You may also consider looking at areas that are not too far from your home as this will save transportation cost or even better still a place where you can lock up your machine and little bits and pieces rather than carrying them home and bringing them back on a daily basis.
This is the most important tool for your new trade because it is this machine that produces the popcorn. Buying one to start up your business is therefore a necessity. Depending on how much you can afford, you can get one for as low as N20,000. If you do not have enough money, you may consider buying a fairly used one just to start off with. If you decide to go for a fairly used machine, be sure to check that it is in good working condition. There are quite a variety of machines to choose from; ranging from the locally made ones to the imported ones.
However, bearing in mind the electricity issues we face in Nigeria, it is also advisable that you buy a machine that works in the absence of electricity; you can look into ones that work with both electricity and gas so that you can easily switch to the gas option in the absence of electricity. In order to cater to the different needs of your customers, be sure to get one that allows for the production of both sugar and salted popcorn because you will be having customers with different taste requirements.
Corn is the major raw material needed for producing popcorn. You may want to consider buying your corn in bulk and directly from a Corn farmer as this will reduce your costs a great deal and help maximize your profit. You may need to purchase sugar, honey, salt, butter/oil and a few other ingredients that you will be needing to produce your popcorn. When purchasing ingredients, try as much as possible to buy them in bulk because it is a much more cost effective option.
You will need to package your popcorn when you sell to your customers. Your packaging depends on your budget but we suggest that as a start-up, you may want to consider buying the smallest sized nylon bags and as you start to grow and make a profit you can improve on your packing. Make a conscious effort to always buy your ingredients in bulk so as to maximize your profit.
Your marketing strategy is extremely important because it will help make your business a success and your brand popular. When you draw up your marketing plan you will need to consider something known as the marketing mix (The 4p’s).
If you are able to answer all these questions, effectively, you are on your way to becoming a successful popcorn business owner. Once all of this is in place then find out what documentation is required from the government, local government or the premises you intend to sell from. As you start to make money, you will need to name your Popcorn Business, List it in the Wetinuneed.com Business directory and register it with the Corporate Affairs Commission (CAC). There you go…you are now a proud business owner!
In a bid to encourage small Business start-ups, Wetinuneed is giving away a brand new Popcorn Making Machine to one lucky individual and this person could be you. All you have to do to qualify is share this post on your Facebook Wall, send us a screenshot via email to [email protected] with one reason why you should win. Keep checking wetinuneed.com/diary where our lucky winner will be announced. We will deliver the machine to him/her no matter the location in Nigeria.
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