Cost of Starting a Frozen Food Business in Nigeria
I need an ideal on how to start frozen food from the beginning to the end as am planing to leave my current work. I also want to know if it worth leaving my current work, for my salary at my current working place is 80k. For a man whose planning to have his own company please any other idea will be welcome!
ITEM TO BE USED
Deep freezer… 3
Capital… how much and others expenses
Location…. somewhere in Agric ikorodu
Shop…….. 2 shop
POS…. I will need to use it for less cash
Staff…. how many
Experience… . my mother was selling it. I also helped her to hawk it when it was little family business.
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Hello Mutiu, why not combined the two for now? Continue working and then look for someone to manage the business for you for sometime. Until you ensure the profitability is worth more than your salary or you can continue working to gain in both ways.
No doubt frozen food business is lucrative if well managed. Starting the business won’t be hard for you since you have a bit knowledge about it. Cost of starting frozen food business in Nigeria conveniently with two shops, give and take should be around N2 to 3million naira.
Cost of starting a frozen food business in Nigeria varies depending on places and item required. From what you mentioned above, I think you will need about N2million to get started.
3 Deep freezer – N300,000
Shops – N200,000
POS – Fee of 1.25% deductible from every transaction for the services provided which includes routine maintenance of the POS units.
For two shops, you will need 4staffs (two each) one cashier and one attendant – N100,000 monthly salary (N25,000 each). Budget 10 months salary – N1,000,000
You will need other things like the measuring scales and
Total estimated startup capital = N2,000,000
1m is a good amount, but you will need more to start on a large scale. The 2m above is excluding generator. You don’t want to rely on PHCN. A generator that will power 2 shops steadily will cost nothing less than #350, 000
Fuel too. I will advice you don’t quit your Job yet. be running this underground and also continue working.
I think for a frozen food business you will certainly need more than two deep freezers because you will be selling different kinds of frozen food. Chicken will have separate fridge, fish will have its own, turkey, cow meat and the rest. All will have their own separate freezers.
Therefore to power them effectively, you may need KVA generator. In that case minimum of N700k for generator alone.