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I can boldly tell you that rice is the most consumed food commodity in Nigeria, Africa and the world at large. So have you been looking for a business to invest in, then why not start rice distribution and retailing? With the population of rice consumers increasing by the day I can authoritatively tell you this is one of the most profitable businesses you should venture into.
As the most sought after and consumed food commodity in the world, any investment when it comes to rice is bound to be profitable. But let us beam the search light of rice distribution and retailing for today and in subsequent times we would discuss rice farming and the rest.
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This article is set to reveal every secret related to rice distribution business, so all you need now is a cold bottle of soda to relax your mind as you read through. This article will answer every single question on your mind related to this business and tell you every step you need to take before you start the business and how you can manage the business after setting it up.
STARTING A RICE RETAILING BUSINESS
BUSINESS CAPITAL: I often tell people that after business idea the next most important thing is capital to kick start. In starting a rice distribution business capital is one of the fundamental commodities you need as a rice distributor because you have to work directly with the farmers and then link up with the retail sellers. Actually, you may get goods on credit from the rice farmers but I don’t advice people to start business on credit due to the risk involved.
In order to start big and gain large customer base in the rice distribution business you need a huge capital, if not you can opt into retail sales where you deal directly with the consumers.
SOURCE FOR SUPPLIERS: After your capital the next most important thing in the rice distribution business is getting a reliable supplier who will supply you with the quantity of goods you need. Ensure you look for a supplier with quality goods that would supply you goods at the cheapest rate possible. Your suppliers farm produce should be the best possible as this is a very important factor in this business.
GET A WAREHOUSE: You need a warehouse to store your products because this is the point where retailers access your products. Getting a warehouse is very important, if you can’t build one, then rent one please. Don’t expose your goods to rain or excess sunlight.
When your truck is not in use you can even lease it out to those that need it.
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MARKET YOUR GOODS: If you want to fast track sales ensure quick returns on investment then you have to advertise your products in every possible channel available. You can advertise your rice distribution business on social media and other media channels. Do you still narrow your activities on Facebook, twitter, Instagram to just watching of videos, pictures and likes? Folks you have to make good use of these channels if you really want to grow your business.
1. 2 Truck of Rice N600,000
2. Warehouse (location depends) N250,000
3. TRUCK (hired for a start) N20,000
4. Adverts N20,000
With as little as eight hundred and Ninety thousand you can start this business and I assure you that in no time you would be smiling to the bank.