How To Start A Palm Oil Business In Nigeria

How do you start a palm oil business in Nigeria? In this video, you will learn the different palm oil businesses you can start and how to start them.
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The palm oil business is one of the lucrative businesses in Nigeria because of its diverse usefulness and the huge profit involved. Palm oil have several uses.
Uses Of Palm Oil
Asides from being used for cooking, palm oil can be used for:
Prevention of vitamin A deficiency, cancer, brain disease, and ageing
Production of soap, cosmetic, body cream, exfoliation cream, margarine, etc
Release of stomach pain
Production of drugs
Treating malaria, high blood pressure, high cholesterol, dementia, etc
Weight loss and for increasing the body's metabolism
Water treatment
Production of dog and other domestic animal food
Preservation of food
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Steps To Starting Palm Oil Business
Step One: Choose The Palm Oil Business You Want To Invest In:
1. Palm Tree Plantation
2. Set Up A Palm Oil Extraction Mill
3. Sales Of Palm Oil
Step Two: Draft A Business Plan
As soon as you've selected your palm oil business niche, draft out a business plan that will guide your business transaction. While writing your business plan, you need to carry out a thorough feasibility study and market research to understand the nature of the business. Reach out to Entrepreneurs.ng on 08038874148 to help you draft a business plan.
Step Three: Register Your Palm Oil Business With CAC
Registering your business with CAC is the first step to structuring your business. A business can be registered as a sole proprietorship, private, or limited liability company. Contact ReDahlia at 08188122223 or [e-mail] to help register your business.
Step Four: Set Up A Storage Space
he next step is to set up storage space. Ensure the space is cool, safe, and dry. Rent a space or a room where you can store the palm oil while you wait for the right time to sell. Additionally, you will need to purchase kegs or drums to store your oil. Most times, people go for the 25litre yellow kegs.
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Step Five: Arrange With Suppliers
In case you are not the one producing the palm oil, you will need to have a solid arrangement with suppliers you can purchase from.
Step Six: Find A Good Means of Transportation
If you don't know the right mode of transportation to use in transporting your goods, you may end up incurring huge costs that will affect your profit.
Step Seven: Source For Customers
The efforts you put into steps one to five will go to waste if this step is not effective. You need a solid marketing plan which should be part of your business plan to succeed in this business.
We have marketing resources at Entrepreneurs.ng that will help you market your palm oil business.
In conclusion, you cannot go wrong with the palm oil business if you dutifully follow the steps highlighted in this video.
As with every business idea we discuss on this platform, you can not substitute hard work and persistence. Work hard and stay the course, success will come.
Get the comprehensive guide to start the palm oil business and 34 other businesses from here: www.entreprene...
Get our premium resources from our shop: www.entreprene...
Subscribe to our channel now to learn how to start and run a sustainable business: / entrepreneursng
Do you run a palm oil business and will like to share some insights with us? Do you want to start a palm oil business in Nigeria? We will like to read from you in the comments.

[@obinwanneka8086]

Good morning entrepreneur
Beautiful video pls I am about to start an palmoil business I will love ur direction thanks

[@EntrepreneursNg]

Dear Obi, thank you for reaching out to us. We are glad that you want to start the palm oil business. We have a guide with the financial breakdown of starting the business. You can find the guide here: entrepreneurs.ng/shop/ You can reach us directly on WhatsApp: [phone]