How to Start Crayfish Business in Nigeria and Make it Big
Crayfish business is a very viable business because everybody eats it in one way or another. Except few individuals like the vegetarians and some religious persons who doesn’t. These small animals are from the crustacean family. Crayfish are high in protein and are used for spicing or seasoning food. Over the years there has been an increase in the demand for crayfish in Nigeria and all over the world.
Many of our brothers and sisters who are outside the country demand so much for it. This has helped in building our exportation strength while adding to the list of things we sent. You can export as whole or as ground crayfish, I have already written an article on that. The number of young people trading on crayfish business has tremendously increased; this is due to the potentials locked up in the business. People that are exporting crayfish are making fortunes out from it.
In every business there are secrets; crayfish business is not an exception. There are secrets in this business which nobody maybe willing to give out. That is why you see somebody who has been in the business for a long time still making waves. You probably must have heard or know that Akwa Ibom/Cross River States have the best crayfish. Well! That is not in doubt; it is one of the reasons why their crayfish markets are always very crowded.
As a beginner you do not have to blindly purchase crayfish just as others are doing without making necessary findings. If not the business will crash but don’t worry; take a chill I will pour out all that I know about this business. Meanwhile let’s get some facts established before I come to that.
WHY YOU SHOULD DO CRAYFISH BUSINESS
There are many reasons why you should do crayfish business. It is very profitable, you can realize 50% and above return on investment. A high turnover guarantees more gain if you are focused and determined you can achieve this.
Assuming you bought a bag #30,000 and sold it #55,000 if you deduct transport fare and other miscellaneous say #10,000 you will get #15,000 out of it. Calculate how much you will make when you buy up to 5, 10, 20 bags.
I have seen persons from the South East that buy from 30, 40, 50 bags and above at once. Even if they make #5,000 profits from each bag that is still big money when you multiply it with the number of bags sold.
Crayfish is highly demanded meaning there is a ready market for it. This is something that is consumed every day. It can be started with small amount of money. You can start with just a bag or two. Crayfish does not have any fixed price, it usually fluctuates but with #100,000 you can start and grow the business over time. Decide how you will be selling it whether in big bags, small bags or in containers. The business is easy to manage.
HOW TO INCREASE PROFITS IN CRAYFISH BUSINESS
As earlier pointed out, it is indeed profitable. However, to make good profits buy directly from the farmers or distributors so that the money others would have put on top will return as part of your gains.
WHERE TO BUY
I often hear people say that crayfish is very cheap in Akwa Ibom State but that is not completely true. In the sense that when you compare the prices to places like Ogun, Ondo etc you will discover that theirs is on the high side. But quality is what distinguishes them. Akwa Ibom State crayfish has high quality (very tasty), sand free or reduced to the barest minimum and less dirt.
You can buy as many bags as you wish because they have them in surplus and also go down to Cameroun to buy since it is closer in other to satisfy customers when there is shortage. The places to buy from are; Ibaka, Oron and Ibeno. Oron has the biggest crayfish market; people from all places such as South east, North and middle belt goes there to buy.
THINGS TO KNOW ABOUT AKWA IBOM Crayfish
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That’s great information. You mentioned “Things to know about Akwa Ibom Crayfish” but you didn’t expatiate. Can you tell us other things we need to know about this wonderful business?
Where can we get it?
What are the profit and expenses in starting this business?
The things to know about Akwa Ibom crayfish is that they have the best crayfish so far in Nigeria in terms of quality (taste). Their crayfish market is the largest in Africa such that you are sure to buy as many truck as you desire.
The expenses to make is not more than the packaging materials, transport fare and maybe advert expenses. Also the profit depends on individuals choice of selling. Crayfish price is not steady so a seller has to sell as bought at every point in time. But you can make from #5,000 and above for wholesale and #20.000 and above for retail.
The places to buy crayfish from in Akwa I bom is; Oron, Ibaka and Ibeno I have already mentioned this on the post.
On how to preserve crayfish or do ground crayfiah business. You can read them up in my blog.