business plan for snacks in nigeria

Business Plan

Snacks Production Business Plan in Nigeria

by BusinessPlan 4 Comments

A snack is a part of food, but usually smaller than serving size of a regular meal, that is eaten mostly between meals. Snacks come in different forms and sizes and can either be packaged or made from fresh home ingredients.

Also Read: Restaurant Business Plan in Nigeria

Snacks consumption in Nigeria is one that does not regard age, class, tribe nor religion. Whether you talk about market men and women, students or people sat in officers working, snacks is a major part of food and also compulsory for a lot of them who find it hard to eat regular meals during work periods because of their demanding jobs, but have something to snack on right in front of them.

Ceremonies, gatherings and social functions are not left out of this snack hunt. Whether you talk about weddings, birthday parties, religious ceremonies and even get together parties by corporations and organisations, there is always a place for snacks. So, if you are unemployed and thinking of what to do or are currently employed but thinking about being self employed, going into the snack business is a wise choice. Now, why do we say it’s a wise choice? The first reason is that it has a huge market. Secondly, progression in this business is very high. On a scale of one to ten, you could start on one and in a couple of months you are above seven on the scale as long as you do things the right way. Thirdly, you can move from being self employed to being an employer of labour. I could go on and on about why this business is a wise choice but the grandest reason of all is its profit generation. Due to the high demand of snacks, there is the best possible opportunity of maximizing profit, whether from sales of a single snack like in the case of cakes or profit got from fast and quick turnover of sales of smaller snacks like doughnut, chin chin e.t.c. One beautiful thing about this business is that it is not affected by harsh economic situations. People will always eat even when prices of snacks increase because of increase in price of raw materials. Now you are probably thinking and trying to figure out snacks varieties. We will give you some types of snacks production you can go into.

Small chops e.g. puff puff, mini sausage rolls, buns e.t.c
Peppered gizzard.
Spring roll.
Plantain chips.
Cookies (vanilla and chocolate chip cookies).

The list goes on and on. However, you can import foreign snacks idea and add a new definition to the original definition of snacks as it is in Nigeria. Now, let’s look deeply at what I mean. This is 2018, and for the past couple of years there’s been a lot of advocacy for healthy eating and snacking. Adding a different category or variety of snacks will definitely draw attention to you. Remember there are a lot of snack production businesses around you, while this should not scare or intimidate you, it should make you inventive and innovative in this business. Here are some healthy snacks options you can add to your business to give it a different look. But remember, these snacks have short shelf life. They include;

Apple, seedless grapes and banana mix.
Mango and cucumber mix.
Groundnut and cashew nut mix.
Raisins and dried pumpkin seed mix. Raisins are dried grapes.
Dried banana, raisins and cashew nuts mix.
Oatmeal bars.

The combinations have no limit, however you have to keep in mind that snacks with fresh fruits have to be hygienically prepared, stored in the refrigerator and not kept for more than a week. These type of snacks does not need to be produced in large quantity at first. Small quantities mainly for sample purposes should be made initially and when the request grows, you can increase production quantity and trust me, you will create a memory in the minds of people with your innovative touches.

Now that we have had an introduction to snacks business, let us move on to what we need to set up a snack production business.

Market research: You are probably thinking you know all about snack production business and a market research is not necessary, but no so. Snack production business is a very popular business that you are not the first to start, neither will you be the last to venture into it. Some people go into a business with so much enthusiasm that soon dies off because of the absence of proper market research. So, if you intend to start up this business and keep the ball rolling, then you will need to know more about the market for this business.

A market research is a process where data, information and recordings are logically gathered and analysed to let you know the customers available to purchase your products, the already existing competitors in the business and the available market for your products. In simpler terms, a market research will help you know

Who your major buyers will be.
What is trending in the business, especially around your choice location.
Who your competitors are and
If available products are giving customers satisfaction. If you find that existing products are not meeting customers satisfaction, you can capitalise on this and turn it to a huge advantage for your business. So do your market research, find out the missing link and be ready to fill in that missing link.

To get your Snacks Production Business Plan in Nigeria today. To place order pay N10, 000 to:

BANK NAME: FIRST BANK PLC

ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM

ACCOUNT NUMBER: 3066880122

After payment, text your full name, email address and title (e.g. snacks business plan sample) to 07033378184. Your business plan will be sent to your email within 15 minutes.

Get trained: If you already understand the rudiments of snack production, you may not need the training. However, you can improve on product modifications and add more skills and knowledge to yourself by consulting videos online and recognised snack making books. If there is a trending skill you desire to learn, then you can get trained by a professional. This can be done for as short as two weeks or possibly shorter.

However, if you do not have the slightest idea about snack making, then you will need to get registered at a reputable training institute, where you can get appropriate training. You may decide to employ workers, but the more knowledgeable you are about the business, the better.

Location: Location is a very important factor for this business. It is true this business can be started from your home if you are starting on a small scale. However, whether you are starting on a small scale or medium to large scale you need a good location to sell your products. First thing is to target a busy environment. The more people around your target location, the higher your sales will be and the more profit you will make. So when thinking of a location, look out for busy areas like school environment, office environment, bus stops, motor parks, around markets, proximity to halls that are rented out for events.
Business name and logo: This is an important aspect of this business. Your business name and logo can be a marketing point for you, and can also create a spot in the memory of those that hear or see it. This is very good for your business. You don’t have to be formal in choosing a business name. It is advised to go informal when choosing a business name. For instance, instead of using delicious snacks, you could use instead chop chop snacks. This will attract people that hear or see the products and will make them want to give it a try.
Purchase your equipments: Equipments purchased will depend entirely on the types of snacks you will be making. Some snacks may need frying, while others may need baking. Below are some major equipments you need for your snack production business. As time goes on, you will be able to decide on additional equipments you need to purchase.
Deep fryer.
Freezer and refrigerator.
Food processor.
Work tables. Remember to coat table surface with durable material that will not leave wood particles in the snacks.
Spoons of various sizes.
Gas or stove cooker.
Variety of cake pans.
Muffin trays.
Shelve to keep products and allow them cool off, and for products display as well.
Sealing machine.
Packaging nylons.
Show glass.

*** Note: Fire detection and prevention equipments always come in handy. You can install smoke detectors in your work area. Mistakes can be made and things on heat could be left longer than they should and start to burn. A smoke detector will alert you if this happens. There are cheap ones you can buy online. A fire extinguisher is also very important, as it will quickly help you stop the spread of fire in cases of fire outbreak. However, the most effective of them all is to practice safety and be very vigilant.

7. Materials needed: Below are some of the major materials needed for snacks production business.

Edible fat.
Minced meat for meat pies. You can buy meat and mince it yourself if you purchase the machine.
Egg for egg roll production.
Vegetable oil.
Employ labour: You may not need an extra hand if you are starting small. However, if you are starting on a medium to large scale, you need to employ labour. Ensure to employ staffs that are generally enlightened and experienced in snack production.
Registration and Relevant approval: You may not need to register and get NAFDAC approval immediately. However, once your business starts to grow and you begin to make contacts to spread you products to eateries, supermarkets, restaurants, offices e.t.c Then you need to get registered and get NAFDAC approval. NAFDAC approval boosts confidence in your products. Most people will easily buy a product that is approved by NAFDAC than one that is not. Registration gives you the required legal backing needed to run your business. It also protects your business idea from theft. Where such happens, it will be easier for you to take up the case legally.

*** Hygienic environment and process of snack production is paramount to get approval from NAFDAC. Also, check NAFDAC guideline for food production to avoid using materials and ingredients that are not approved.

Marketing: No matter how good your products are, if you aim to be one of the major distributors of snacks in your locality, then you must work for it. One good place to start is with drinks distributors. Offer them free sample of your product or products. Once they are convinced and want to partner with you, make them distributors. Supermarkets are also great places to market your products. You can also have a nice show glass in a strategic place where you can sell and display your products. Also, lobby for position to make snacks in ceremonies when you have the opportunity. Once the word about your business goes out and gets the desired attention, you will be the one trying to meet up with demands.

How much profit is in this business

You may be wandering how much profit is in this business. Is the business demanding? Yes it is! But the profits raked in far outweigh whatever time, energy, innovation and money you put into it. Cakes are usually hot sales. You can sell a cake between #5,000 and #20,000, and trust me, these are for small cakes. You can sell a cake for #20,000, and this can even get better. Some cakes are sold for as high as #200,000. Is that a stretch? I can guarantee you it is not. If your cakes are top notch, the price will not be a problem. Now let’s look at profit margin from sales of smaller snacks.

Egg roll. Egg roll now goes for #100 for the one with full egg or #50 for the one with half egg, depending on your location. If you sell at #100 and supply 200 everyday, you’ll have

#100*200 = #20,000.

#20,000*26 days ( if you do not work on Sundays) = #520,000.

Chin chin. Chin chin can be sold for #50, #100 or even more, depending on your location. If you supply 200 everyday, you’ll have

Now assuming you produce only 26 days in a month, you will have a total sales of #520,000. This is just a quick calculation for just two snack types. Other snacks are there you could make everyday in addition to these ones and in a month you can have a sales of over one million Naira. After removal of production cost and staff salaries, you will see that the labour put into this business is worth it. So, dear reader, if you think you have what it takes to be that exceptional snack producer, then I’d say go for it.

Tips for your snacks production business

The price of your snacks should be right. Do not over prize them. This can make you loose customers and do not under prize either, it will reduce your profit.
Your products should be packaged attractively. It is this first attraction that will make people want to thirst your products. Some people use ribbons for packaging. Use what suits you best, but be innovative.
You can sell soft drinks with your snacks to increase your profit and patronage, especially if you have the space to accommodate chairs and tables where people can sit to eat. You can make local drinks like zobo, soymilk, tigernut milk e.t.c. Trust me, with the right combinations and preparation patterns, you will never be short of customers especially when you are in a strategic position.
The quality of your product should speak for your business. However, be mindful of cost of production of your snacks. The lower the production cost, the easier it is to make good profit.
Products with short shelf life, that is products that spoil quickly should not be produced in very large quantities. You can produce such products based on demand.
Do not sell products that have gone bad by mixing them with fresh ones. This will destroy your business very fast.
Keep an organised record of products. If by chance you do not sell all your products in a day, the remnants from the previous day should be sold first, as long as they are still healthy enough to be consumed. Snacks that can be stored in the freezer till the next day should be stored but not for too long.
If you live around a university, you can take your products to sell around hostels in the evenings. You should use a vehicle with a large booth, that way you can display your various products. It will fetch you sales and contacts. Students enjoy partying and if you can give them quality products, you will be on their top favorite snack producer list.
Make hygiene a priority in your business always.
Keep proper records and audit accounts from time to time. This will help to monitor your sales and profit and also determine if you are making profits or losses.

Get your own sample Snacks Production Business Plan in Nigeria now! To place order, Pay N10,000 to:

BANK NAME: GUARANTY TRUST BANK (GTB)

ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM

ACCOUNT NUMBER: 0044056891

After payment, send your full name, email address and topic (e.g. feasibility study on snacks production) to 07033378184. Your business plan will be sent to your email within 15 minutes.

Snacks Production Business Plan in Nigeria © www.businessplan.com.ng

Snacks Business in Nigeria: Ideas, How to Start, Cost & Profitability in 2024

October 1, 2023

Sales of snacks is one of the easiest businesses that anyone can kick-start in Nigeria. The business has been around for a long time however one thing that holds people back from starting it is not knowing the type to start or even how to start it.

The high demand for snacks has made the business very profitable. Also, it is a daily income business , which means as a snack seller in Nigeria, you’ll be making money day in and day out.

Anybody can start a snack business in Nigeria regardless of gender, location, and capital. The business can be started by students, housewives, job seekers, and any passionate entrepreneurs.

If you’re looking to venture into the snacks business in Nigeria it is always welcoming. This post will be showing you exactly how to start a snacks business in Nigeria. Here you will discover different types of snacks business you can start, the starting cost, profitability, and how to run the business successfully in any part of the country.

So, if you’re ready to start, let’s go!

Table of Contents

Starting a Snacks Business in Nigeria

The snacks business can be started in two ways in Nigeria. You can start either by buying and selling already packaged snacks like burgers, popcorn, etc. or producing and packaging your own snacks for sale such as small chops, puff puff, doughnuts, etc.

Regardless of how you start, the snacks business is easy to operate and doesn’t require a huge startup capital, unless you want to start a big snacks manufacturing company like Yale.

You can start the business anywhere, as not much is required in terms of capital to set it up. Once you have all the needed equipment such as a frying pan, show glass, and gas cooker, as well as ingredients, you’re good to get started.

To start a snacks business in Nigeria, you must decide on the type of snacks business you want to start as there are many. A lot of them are very lucrative, although their profitability may vary.

Related: Most Profitable Businesses to Start with Little Money in Nigeria

Is Snacks Business Profitable in Nigeria?

Of course, everybody likes snacks, and in Nigeria, there’s always a strong demand for all kinds of snacks. That makes the snacks business very profitable in the country.

Although location may determine how profitable a snacks business may be, the most money is made especially in the morning, as lots of people barely have time to prepare breakfast, so they buy snacks like puff puff, and/or other small chops to fill their belly.

You can make a lot of money selling any kind of snack you may think of, but keep in mind that their profitability may vary. This is because some snacks drive more sales, while others may have a huge profit margin, especially if the cost of production isn’t high.

Since the snacks business is a source of daily income, your profits would be calculated on a daily basis. On average, you can make up to N10,000 and more daily selling snacks in Nigeria. Although this depends on the type, location, and how big or small you start.

See Also: 33 Highly Profitable Business Ideas in Nigeria to Start Now

How Much Do You Need to Start a Snacks Business in Nigeria?

Even though the business is very easy to start, just like every other business, you need money to get it off the ground. The capital needed to start a snacks business depends on the type of snacks you want to sell. The average cost of starting a snacks business in Nigeria regardless of the type could range from N10,000 to N100,000.

Read Also: 14 Smart Businesses to Start with 10K in Nigeria

Most Lucrative Snacks Business Ideas in Nigeria

1. popcorn production.

The popcorn production business is one of the easy-to-start snacks businesses in Nigeria. It involves production, packaging, and selling popcorn.

This snacks business idea can be started with about any amount, as you can make popcorn the local way using just a pot. If you have more capital, you can buy a popcorn machine to start making and selling popcorn.

Popcorn business is very profitable, as the demand for the snack is always high. You can make up to 200% ROI per every kilo of maize used to make popcorn.

Learn More: How to Start a Profitable Popcorn Business in Nigeria

2. Peanut Production

Peanut, also known as peanut bugger, is another snack that sells fast in Nigeria. You can start a peanut production business anywhere in Nigeria and drive sales.

Students do get involved in this business, as peanut buggers sell well amongst students. To start a peanut production business in Nigeria, all you just need is to acquire the required skill in making peanut buggers, and you’re good to go.

The cost of starting this snacks business in Nigeria is not too high, as you can get started with less than N10,000. With a good marketing strategy, you could turn the business into a source of daily income in no time.

3. Frying Puff Puff

Puff puff is one of the most popular snack-like fast foods in Nigeria. You can also make a lot of money frying and selling puff puff in Nigeria, as it is a good source of daily income.

This snacks business idea can be started by anyone regardless of gender or location. All you need to get started is capital, and getting all the necessary equipment, and ingredients, then you’re good to go.

You don’t need any marketing skills whatsoever to make sales selling puff puff in Nigeria, as the demand is high, making it an evergreen snacks business idea in Nigeria.

4. Baking/Frying Chin Chin

Just like the puff puff business, the production and sales of chin chin is another evergreen snacks business idea in Nigeria. From toddlers to old people, everybody likes chin chin in Nigeria.

That makes the business very profitable, as it is one of the snacks businesses which more sales mean more profits. You can start this business with about any amount. All you just have to do is learn how to make chin chin, to get started.

Related: How to Start a Profitable Rubber Slippers Business in Nigeria

5. Making Doughnuts

While thinking about a snacks business to start, doughnut production as sales may not come to your mind, but it makes a lot of money just like the puff puff business.

You can start a doughnut business in Nigeria with less than 20,000 naira on a small scale. The demand for snacks is high in many parts of the country, especially on campuses.

If you are able to start a doughnut business in a student area such as inside a university, or polytechnic, there is no limit to the amount you can make. All you need to get started is to learn how to make a doughnut, then get the needed materials and equipment, and you’re good to go.

6. Frying Plantain Chips

Plantain chips are a very popular snack in Nigeria that sells well. There is more demand for plantain chips than supply, so the business moves fast.

Unlike other snacks business ideas that require expensive equipment, and/or lots of ingredients to start, you only need a constant supply of plantain and access to a pot or frying pan to get started producing and selling plantain chips in Nigeria.

7. Frying Potato Chips

Just like the plantain chips business, there’s more demand for potato chips than the supply in Nigeria. Also, the potato chips business can be classified as an untapped snacks business in Nigeria, as not many people know about it.

The potato chips business is very profitable and can be started easily from your kitchen. All you just need is a supply of raw potatoes, and other basic equipment to get started.

Since the business is not too popular, you can produce potato chips in large quantities and distribute them to retailers, and provision stores at wholesale prices. This will rapidly increase sales, and of course, profits.

Related: How to Start a Restaurant Business in Nigeria

8. Making Sausage Roll

While sausage rolls can usually be found in fast food restaurants in Nigeria, starting it as a snacks business would be a great idea, as it is quite untapped. Although the snack is relatively new in Nigeria, the demand for it is high.

It is very hard to find a sausage roll baker on street corners, unlike puff puff, and other snacks. So you can be one of the early birds to make the most out of the business while it is still untapped.

There’s a lot of money to be made selling sausage rolls, as they are costly. The business is also quite capital-intensive to start, as you’ll need more ingredients, and probably enroll in a sausage roll baking course to get started.

9. Egg Roll Business

Egg roll is another popular and fast-selling snack in Nigeria. Just like selling puff puff, you can start an egg roll business anywhere in Nigeria, and make money.

Although it costs a lot more in terms of baking than other kinds of snacks due to the many ingredients required such as eggs, the profit is also massive. You can make up to 100% ROI on a bag of flour, making and selling egg rolls in Nigeria.

Related: How to Start Egg Supply Business in Nigeria

10. Baking/Frying Meat Pie

Making and selling meat pie is another lucrative snacks business idea in Nigeria. The business simply involves baking meat pie for sale.

You can start this business both on a small scale and a large scale and make a lot of money, as meat pies are always in demand in Nigeria. You just need to learn how to make meat pie to get started with the business.

Of course, you can enroll in an offline course to learn it. You can also learn how to make meat pie online to start the business.

11. Frying Coconut Chips

Also known as shuku shuku in some parts of the country, the coconut chips or coconut balls business is one of the most underestimated snacks business ideas in Nigeria.

However, there’s a lot of money to be made with the business if done the right way. Per coconut used to make chips, you can get up to 300% ROI. To start this business, all you need is just to learn how to make the chips.

In selling coconut chips in Nigeria, marketing really matters. To quickly drive sales, you can brand your business by making custom packaging material for your products. This will not just help drive sales, but also help create awareness.

12. Frying Cassava Chips

Making and selling cassava chips is one of the most profitable untapped snacks business ideas in Nigeria. Although not many people know about it, the demand is very high if you can package and sell it.

Since the snack is not too popular in Nigeria, the competition is low, so you can be one of the early birds to make cool money making, packaging, and selling cassava chips in your area.

The business is very easy to start, as you can either start on a small scale doing the production, and package manually by yourself, or start on a large scale by setting up a cassava chips brand/company if you have enough startup capital.

All you need to get started is to learn how to make the snack, which you do online through YouTube videos or reading blog posts. After that, get everything required and get started.

Related: How to Start a Profitable Food Business in Nigeria

13. Small Chops Business

This business is very lucrative, as small chops are becoming a popular snack and fast food in events such as weddings, naming ceremonies, get together, and birthday parties. Despite the popularity, you do not need to wait for big parties for business opportunities, as you can start small from friends and family events.

The small chops business is an ideal one for students, as the demand is usually high for birthdays, which students celebrate the most. Driving sales is easy with this business, as you can work with event planners to recommend you to their clients. Just make sure that your small chops are nice and tasty so you have your customers for life.

14. Fried Yam, Plantain, and Potato Business

Although considered more of a lunch than snacks, the fried yam, potato, and plantain business is very profitable and easy to start in Nigeria. The demand for those fast foods is strong in every part of the country.

You can start this business and make a lot of money. All you need to get started is access to raw yam, potato, and/or plantain, then get all the needed frying equipment, and you’re good to go. Just like the puff puff business, you don’t even need to advertise your fried yam business to start driving sales.

Read Also: How to Start a Foodstuff Business with Little Money in Nigeria

15. Akara Business

Just like fried yams, akara is considered a fast food rather than a snack, as most Nigerians eat with a combination of pap or bread for breakfast. Akara is very popular in Nigeria. I bet nobody doesn’t know what it is.

The demand for the snacks is high, thereby making sellers a lot of money. You can start this business anywhere in the country regardless of your gender.

The akara business is not too capital-intensive to start. All you need is beans, ingredients, and the frying equipment to get started frying and selling akara in Nigeria.

Starting a snacks business is very profitable in Nigeria, as there’s high demand for all kinds of snacks. If you’re wondering what type to start and make the most money, I believe the post has served you the appropriate answers.

Note: You can’t just start any of the snacks business listed above blindly, so make sure you do your research offline before getting started, so as to attain the peak of success in the business.

Tags: small business Small chops Snacks

His name is Olatunde, he is the founder of Nairarush.com.ng. He is Nigerian who likes sharing information about anything about finance. And because he has been making money online for years now, he also share some information about investing, online business ideas, loans for students and businesses, and lots more.

How to Make 2000 Naira Daily in Nigeria 2024 [12 Legit Ways]

Zenith Bank Virtual Card: How to Get One, Fees, Activation & Requirements 2024

How to Transfer Money from GTBank (2024)

Snacks Businesses

Top 12 lucrative snacks business ideas in nigeria.

Have you been trying to go into the snacks business for some time now but you’ve been holding back because you really do not know the kinds of snacks business that are lucrative in Nigeria or best-selling snacks in Nigeria? I know how confusing it can be especially if you want to specialize in a particular type of Nigerian snack.

So today, I will be sharing with us how to start snacks business in Nigeria that will make you thousands of naira and millions yearly and how you can start these snacks business. You see the ability to turn any business into a multi-million naira business is not really the business it is the effort and the little tips and tricks you put into it.

Proof of this is any business you see around you.

For example , frozen foods business in Nigeria , while you see some business owners making millions from the business, you will see another business owner making barely enough to keep the business going. Another example is the fish farming business in Nigeria.

While you see some fish farmers making millions from their fish farms, you will see some other farmers in the same business making just thousands. And this is not a matter of one getting more opportunities than the other. It can also be the case even if all of them were given the same capital to start up the business.

These businesses in Nigeria are the ones that came to my mind but you can also reflect on the businesses in your area and compare two business owners in the same type of business then contrast. You will get to see that it is not really the business that is making the millionaires stand out but the tips and tricks they applied.

These little tweaks and tips are what turned their business into a multi-million naira business . So now I want you to do me a favor by making sure you do not look down on these types of snacks business I am about to share with you. Despite the fact that they are small they are lucrative in their own way.

Remember that most times it is not the business itself that has a problem. Heck, sometimes it can be the owner. Yes, you as an owner can also be the pulling force holding your business down. I have shared this so many times on the blog so let’s not waste so much time on it and go into today’s topic right away.

Is Snack Business Profitable?

The snack business is a profitable business in Nigeria because Nigerians like snacks a lot. Asides from eating snacks at parties (owanbe), many Nigerians eat snacks to fill their empty stomachs. The snacks business can be very profitable especially in the morning because Nigerians barely have time to cook breakfast.

It is also lucrative in the evening because Nigerians eat snacks in traffic before they can get home to cook dinner.

Capital Needed to Start Snacks Business

The capital needed to start a snacks business in Nigeria varies. It depends on the kind of snacks business – process in making the snacks, ingredients, and equipment needed in making the snacks. However, averagely you will need a capital of N100,000 to N500,000 to start any type of snacks business in Nigeria no matter the location, equipment, and ingredients needed you can start small.

Top 12 Lucrative Snacks Businesses in Nigeria

Here are the best lucrative snack businesses in Nigeria you can start today and how to start them.

1. Doughnut Business

This is the first snack business idea in Nigeria you should try. It is one of the best-selling snack businesses in Nigeria. About three years ago, I met a woman not too far from my church that sells doughnuts and gradually I became her customer. At the time I knew her, she was on the roadside because she could not afford a shop.

In fact, according to the little story she told me it’s been a long she learned snack making but due to limited funds, she could not start. So one day she decided to pick the nearest bus stop close to her house and just start selling even if it is on Sundays alone.

I must say her doughnuts do not just look nice they are delicious, slightly fried, golden brown enough just to hold your hungry stomach before you get home from church on Sunday to cook. Every Sunday afternoon I always buy her doughnuts immediately after I leave the church heading home.

As time goes by, she perfected the act of snack making and understood the business, and not too long the crowd started coming. Sometimes, I would get to her space and she would tell me doughnut has finished for the day.

After some little questions with her trying to know why her donuts always finish on time, she told me churches around the area have started buying them in bulk – some buying the doughnut for their children’s department and some buying it to refresh their church members before they go home.

In fact, it got to a time she could no longer sell to us (the one-customer buyers) but rather to churches. One day, after the service I went to her space and I did not meet her there, it looked like she has not opened for a while because everywhere looked deserted.

So after three Sundays visiting the same spot and not seeing her I decided to ask her neighbors about her. I wanted to be sure everything was fine with her. After little findings, I was told she has now rented a shop and no longer stays at that spot. I went to visit her at her shop and I was wowed at how far she has progressed steadily in the business.

I told her “It looks like everything is now fine with you!” She smiled. From the little observation in her newly rented shop, I discovered that her shop was now furnished. She now has a gas cooker instead of the usual firewood she uses for frying.

She also has an oven – basically, all equipment you will find in a snacks shop, and on top of it all she now has stewards learning and assisting her in the snacks business. She told me “Ralph, my business has exploded o. On Sundays, I sell to churches on Saturday I sell to commuters, from Monday to Friday I sell to school children. “So you are now selling on other days?”

I asked. She said “yes o”! Who told you that there’s no profit in the doughnut business in Nigeria? Who told you it is not lucrative? I am here to tell you today that this is not true. The fact that the person selling it in your area has not gotten anywhere does not mean you will not make wealth when you start yours.

Donut business in Nigeria can be a lucrative business if you know what you are doing. Here are some tips for you if you want to start your own doughnut business in Nigeria and make it.

How to Start Doughnut Business in Nigeria

A. learn how to make donuts.

Yes, you have to learn first. You need to learn how to make doughnuts for sale – Knowing the right ingredients to add and the right measurement. Also, you need to learn the business aspect of doughnut-making and the only way to do this successfully is for you to learn first from a professional one-on-one.

The duration of learning usually takes 1 – 3 months depending on how fast or slow you are in terms of learning but once you’re done you’re good to go. This process is not only for the doughnut business but for any other type of snack business in Nigeria

B. Buy Equipment and Ingredients

After learning, the next step is to buy equipment and ingredients for your doughnut business. For the equipment, you need to buy the ones that will last you for a long time, and for the ingredients, you will need to buy them wholesale so that you will be able to increase profit when you are selling in small quantities.

C. Get a Location

From the short story, I told you about the doughnut woman earlier you will discover that she choose a good location. Location is very important when it comes to making big sales in your donut business. Look for a junction or bus stop in your area where thousands of people pass every day and set up your doughnut business there.

D. Be Creative

Be creative in terms of looking for better ways to make people buy from you more. Minimize your expenses and look for ways to increase your sales so as to increase your profit.

2. Egg Roll Business

Egg roll or Scotch egg is a snack that Nigerians like eating a lot not just for the fact that it is delicious but also because it is the only snack in the snacks market that has a balanced diet. It is another best-selling snack in Nigeria. The ingredient in egg roll snacks is basically a combination of flour and egg.

It is considered a snack for the big man and the big woman because It is rare for you to see a Nigerian child eating an egg roll. But despite these facts, there’s still a market for you if you are really interested in the business. Egg roll business can be a lucrative business in Nigeria for you.

This is if you can buy all your ingredients in wholesale and get a location where many people can buy easily preferably at rich locations like big churches or schools in your area. In this business, you have to go to where your market is.

How to Start Egg Roll Business in Nigeria

A. learn every process.

From the little knowledge, I have about the snacks business in Nigeria the process of making egg rolls is totally different from the process of making every other snack in Nigeria. It is not as stressful as meat pie but it certainly demands more attention. From getting the right egg to using the right flour to making the finishing look perfect, all these demand learning.

This is why the first step to starting your own egg roll business in Nigeria is for you to first learn how to make egg rolls. So register in your area with an experienced caterer and learn. After you are done learning you can move forward to buying the ingredients and equipment for making egg roll.

B. Buy Ingredients and Equipment

Just like I mentioned earlier in the donut business, buy your ingredients wholesale, and buy the necessary tools you need to start. As time goes by you can now buy more.

C. Get your Customers

Unlike the doughnut business where you look for a perfect location for you to sell, in the egg roll business, you do not necessarily need to get a location you have to go to where the customers are – banks, schools, big churches.

3. Puff Puff Business

Recently I just wrote an article exposing the wealth in puff puff business in Nigeria. In the article, I told the story of a woman who sponsored all her children’s schools and built a house from the same business. The thing with us Nigerians is that we see every roadside business (selling) as demeaning and worthless but this article proves otherwise.

Do not be surprised if the graduate selling puff puff in your area is making more money than you going to a 9 – 5 job. It’s all about the mentality and if you are willing to get your hands dirty. I do not need to talk much about this. If you are interested in reading the full article here is “ how to start puff puff business in Nigeria ”.

4. Small Chops Business

Small chop business is also a lucrative business in Nigeria if you know how to make yourself stand out from every other caterer. You can make huge profits from it by doing extra things that other caterers do not do like registering with events planners in and around your locality so that they can outsource any small chops contracts given to them to you.

So you can sell to businesses and companies during their break time, supplying for birthday parties and anniversaries of companies and giving huge discounts for every customer that refers someone to you. You give them a discount when they make their own order.

For example, if they introduce you to a customer and the customer is able to do business with you when it is time for them to make their own order you give them discounts based on the reference. The full article is here just in case you want to understand fully business how it works. Read our article on how to start small chops business in Nigeria for more tips on this business.

5. Chin Chin Business

This is another best-selling snack I cannot wait to write about the business once I’m done with all my findings. Chin chin business in Nigeria is another lucrative business for you if you are not just passionate about making it but also creating a brand. Yes, because almost everybody can make chin-chin.

Heck, even a newborn baby girl can make chin chin but what differentiates her from a professional is the professional is willing to advance. An ordinary chin chin seller just wants to sell chin chin to make a living but the real shaker wants to make wealth from the business.

He or she wants to see his or her chin chin brand on a governor’s table, MD’s table, in conferences, and other high places. This is how you should think if you really want to create wealth selling chin chin. Don’t think of the business in the short run rather think of it in the long run.

How to Start Chin Chin Business in Nigeria

Here are steps on how to start this snacks business in Nigeria

A. Get your Required Capital

Normally, I would have said the first step you should take here is to learn how to make chin chin but this is not really necessary. Yes, in the sense that it is one of the easiest snacks to make in Nigeria, and aside from this, you do not really need to learn how to make it to be successful in the business as long as you have abundant capital.

Your capital will take care of everything from the producers to the branding to marketing. Money will take care of all these. However, you need to get everything right before you venture into it. But once you get your act right, you should start making profits as soon as possible. Watch out for a full article on this.

B. Register your Snacks Product

Because chin chin is a snack that is not eaten immediately after it is been fried and it takes some time before it is bought from shelves you may have to register your chin chin under NAFDAC . After it is been certified under NAFDAC , you can now sell on a mass scale all through Nigeria.

C. Start Producing and Selling

The next step after registering your chin chin product is to start producing and selling. As I said earlier, you do not necessarily need to learn how to make it if you can employ someone to do the making for you. All you have to bother yourself with is how you will brand your chin and make it sell itself on supermarket shelves. Here is our post on How to Start Chin chin Business in Nigeria

6. Meat Pie Business

Meat pie business is another lucrative snacks business in Nigeria although it demands more of your time in the making process. Not many individuals are into it because of the tons of extra effort it demands which is why it’s a ready market for anyone trying to get into the business. To start this business successfully, you have to first think of those you’re supplying.

If possible get your suppliers first before you start making it in large quantities. My best advice here is that you supply for organizations that can easily buy it. As we all know children cannot afford meat pie snacks except if their parents buy them for them so you only have the option of selling them to adults.

You can sell to adults directly by going to where they gather and you can sell to them also by supplying restaurants. Because many restaurants have so much to do and meat pie demands so much stress they might avoid making meat pie for their customers. This is where you come in. You can start by being their supplier – selling to them in bulk. This is a way you can make your money – by being a wholesaler.

How to Start a Meat Pie Business in Nigeria

A. learn how to make meat pie.

Yes, in other to get the perfect taste of your meat pie you need to learn how to make it from scratch to the end. I know learning can be stressful but the efforts will pay at the end. The learning should take a duration of 1 – 3 months depending on how fast you are with learning all processes involved.

B. Get Capital Needed

The next step after learning is to make a budget of how much the equipment and ingredients will cost and proceed to buy the equipment and ingredients used in making meat pie but you know we’ll not be able to do this without capital. This is where you getting your capital comes into play.

You can decide to self-fund it if you have enough money and if you do not have enough money you can ask for help from your family and friends.

C. Buy Ingredients and Equipment

The same advice I gave earlier should be applied here to maximize profit in your meat pie business.

7. Akara Business

Akara also known as bean cake is also a lucrative snacks business in Nigeria. It is similar to puff puff business in the sense that it demands the same process in establishing the business but with a little difference. It can be very sensitive because of the major ingredient used in making it – beans. We have vegetable oil fried akara and we have palm oil fried akara.

Among these 2 the most sought-after type of akara is the vegetable oiled akara. To make a massive profit from your akara business, you need to rent a space at one of the biggest junctions in your area. If you are able to do this perfectly and get the taste right, you will make your profit without stress and you will not need to diversify into any other thing to keep you going in the business.

I know an akara woman in my cousin’s area who made profits in her akara business to the extent that she brought her friend to come and sell bread next to her. So as you’re buying akara from her you will be pushed to buy bread from her friend.

How to Start Akara Business in Nigeria

I don’t need to talk much about this. My advice here is you should learn how to make it first, then get your capital, then buy your ingredients and equipment then select a good location and finally start to sell. Read our article on how to start akara business in Nigeria .

8. Sausage Roll Business

Sausage roll business is not that common in Nigeria. You will not find it easily at the street corners of Nigeria, you will only find it at fast-food restaurants. This is where you come in. You are going to be the bridge between the rich that can afford the snacks and those who eat them only on good days – when they can afford it.

A market cannot be termed as over-flooded as long as you have something different to offer neither can it be luxurious. It’s all about thinking differently – bringing on a different approach. You can be making your own sausage roll and decide to sell them in traffic. Yes, I have seen people sell sausage rolls in traffic. All you to do here is get agents to sell them for you in traffic.

Motivate them with money by telling them a certain percentage of the profit is for them if they can sell the entire sausage roll given to them. Or rather you can go a different route by registering your sausage roll snacks with NAFDAC. Branding it to sell to supermarkets, big shops or malls either of these will make you stand out from the rest.

9. Plantain Chips Business

This is another lucrative snacks business in Nigeria and best-selling snacks in Nigeria I cannot wait to write a full article on but for now, I will try my best to explain how you can start this business right from your home here. Plantain chips business is one of the easiest snack business in Nigeria yet very lucrative.

Lucrative in the sense that it demands less capital and money to produce yet it yields massive profit. You can make as much as N1,500 from a bunch of plantains that cost N500. Depending on how wise you are with the business you can even make more by for example buying your plantain in bulk and selling your plantain chips in traffic, malls, and stores.

And the best thing about the business is no part of the plantain is wasted because there’s always a market for both types of plantain – ripe and unripe plantain.

Ingredients Used in Making Plantain Chips

Below are the ingredients used in making plantain chips:

1. Plantain (ripe or unripe)

2. Vegetable oil

Equipment Used for Making Plantain Chips

Below are the equipment used in making plantain chips.

1. Frying pan

4. Stainless tray

How to Start Plantain Chips Business in Nigeria

A. Learn how to make Plantain Chips

What distinguishes your plantain chips from every other brand of plantain chips in Nigeria is not the name of your plantain chips but its distinct taste. This is why learning is very important here – when it comes to these, producing on a large scale you have to get your taste right. You can learn from videos on YouTube and perfect this yourself as time by.

B. Get Required Capital

After getting learning how to make plantain chips, the next step is to source capital. You’re going to need capital to buy equipment and ingredients used to make plantain chips and packaging rappers. It is not a must you get everything right from the start the most important thing here is to have a supply chain. In order words, buy only the necessary things when it comes to equipment, ingredients, and packaging rappers.

C. Start Producing and Selling Plantain Chips

After producing, if you don’t have the money yet to register your snacks with NAFDAC you can sell your plantain chips only in churches, organizations and as time goes by when you can now afford to register you can now start selling your plantain chips in supermarkets, malls, stores and in traffic. Read our guide on how to start plantain chips business in Nigeria .

10. Fried Yam Business

Fried yam also known as yam burger is another lucrative snacks business in Nigeria and best-selling snacks business in Nigeria. Although not yet common in many parts of Nigeria it is a business that can be welcomed any time you introduce it.

A Fried yam snack is a good option for Nigerians that don’t want to eat akara or puff puff. The simple difference between it and yam burger is that the yam burger is coated with blended beans before it is deep-fried. You can make your profit from the fried yam business by knowing where to gain your profits. Read our post on how to start fried yam and potato business in Nigeria .

How to Start Fried Yam Business in Nigeria

A. Map Out Budget

Before starting your fried yam business in Nigeria you need to map out your budget. How much you will be spending to buy the ingredients to fry the yams per day and how much it will cost to get the equipment used in frying.

B. Buy Ingredients & Equipment

After making your budget the next step is to go buy your equipment and ingredients. You can buy your equipment at a reliable store at reasonable prices. As for the ingredients, you should try to buy them in bulk because it will be cheaper for you.

C. Choose your Location

When it comes to this aspect choose your location where many people pass daily especially at the time of the day you want to be selling.

D. Start Frying and Selling

There is no one-size-fits-all when it comes to this. You just have to start frying and start selling but most importantly make accounts and look for more possible ways to do better.

11. Cassava Chips Business

Cassava chips business is a Nigerian packaged snacks that can make you millions. Although, it is not regarded as a local snacks because it is not popular, this snacks business is highly loved by those who know it. Cassava chips snacks is not difficult to make.

You can either make the snacks manually by yourself or simply set up a cassava chips production plant if you have enough capital. The major ingredients needed in starting a cassava chips business in Nigeria are cassava (the major ingredient), salt, pepper, vegetable oil, and more.

Cassava chips business is a lucrative snacks business. However, you must not go into the business blind. This is why you need a proper business plan for snacks or a cassava chips business plan to guide you.

12. Coconut Chips Business

Coconut chips business is another Nigerian packaged snacks in Nigeria. This snacks business can make you millions of naira in a short time if you go into it well-informed. Coconut chips business is also not a local snacks because it is not that common. However, this snack is widely eaten by the rich.

To start a coconut chips production business on a wide scale you need a proper business plan for snacks or a coconut chips business plan, capital, and the never give up spirit in you. You can also start this snacks business from your home. It all depends on what you have available to you.

The snacks business is a lucrative business in Nigeria . This is because Nigerians eat snacks and they depend on snacks for breakfast. Asides from this, you do not necessarily need big capital to start your own snacks business. You can start small and grow your business gradually.

Recommended:

How to Become a Millionaire in Nigeria
Top Businesses that makes You a Millionaire in Nigeria
How to Start Foodstuff Business in Nigeria
Best Business Ideas for Immigrants in Canada
Bola Tinubu Net Worth

📡Join Our Social Media Channels:

Facebook: theinfoWorth YouTube: Ralph Finance

How to Start Cupcake Business in Nigeria

How to Start Puff Puff Business in Nigeria (Simple Guide)

Ralph Bamigboye is an Accountant. He is the owner of TheInfoWorth.com, NetWorthVerse.com and Finance Naija YouTube Channel. He has helped many individuals to start their businesses and make money online. How can he help you?

Latest Posts

How to Start Video Game Center Business in Nigeria

Starting a video game center in Nigeria is very lucrative. It is a business that never dies due to its...

How Musicians Make their Money in Nigeria: 10 Ways

As a musician or artist in Nigeria, these are the most common ways you can make money.

How to Start Animal Feed Business in Nigeria

How profitable is animal feed business, the capital needed, livestock feed production process and more.

Entrepreneur: The Meaning, Myths, Functions, and Types

The meaning of entrepreneur, who an entrepreneur is, myths of an entrepreneur, characteristics, functions

37 Most Lucrative Business Ideas in Nigeria

This list comprises of different lucrative business that you can start in Nigeria from low to the highest

Top 10 Fast Moving Businesses in Nigeria

In this article you will learn what a fast business is and the top fast moving business ideas in Nigeria...

How to Start Egg Supply Business in Nigeria

How profitable of egg business, the capital needed to start, and the step by step guide on how to start

Top 10 Profitable Side Hustles in Nigeria

What is a side hustle, here are the most profitable side hustle businesses in Nigeria and how to start

How to Make Money from Real Estate in Nigeria: 10 Ways

The real estate business is a lucrative business and these are the best way to make money from it.

How to Start Dog Food Business in Nigeria

How profitable is dog food business, capital needed, and the step by step guide to start.

How To Start a Snacks Business in Nigeria [Most Profitable]

Thinking of starting a snack business in Nigeria? Snacks Business remains one of the most lucrative businesses in Nigeria irrespective of how bad the economy is. Have you ever thought of How To Start a Snacks Business in Nigeria? This article will educate you on what you need to get started including the reason why you should start one.

Snacks are any informal food that can be taken in between normal meals or eaten temporarily before normal food. Most snacks are produced mainly with flour. Some of those snacks include puff puff, doughnut, egg roll, fish roll, meat pie, Akara, and many others. you can also make pepperoni bread.

Selling of Snacks can fetch you thousands of naira monthly If done well. It has many numerous advantages which makes it lucrative. Apart from the fact that you can start the business with a low capital(as low as N20,000), it has a high-profit rate with a large market.

Almost everyone takes snacks for different reasons. Ranging from busy business owners to employees to children going to school to organizations to events like birthdays, get-together parties, and many others who need it.

Now that we understand how lucrative and high-yielding the business is. Below is a list of steps on how to start your own Snacks business in Nigeria.

Steps to Start Snacks Business in Nigeria

Before starting any business whether snacks or food-related or something different entirely, it is important to make your research. So, the first step to start any Snacks business in Nigeria is;

1. Market Research

You can do market research by simply asking questions about the proposed snacks business. Either from competitors who are already in the business, friends, and people living in your area on snacks they preferred.

From the research, you will be able to know and estimate the amount possible to start the business, buy equipment, and other things needed. This will go a long way to help you get started. Below is the list of snacks businesses you can go into.

Sausage Roll
Plaintain Chips and so on.

2. Get the Required Training

There is a popular saying that goes thus “What is worth doing at all is worth doing well”. This applies greatly to your proposed snacks business. It’s when your product is of good quality that you will get and retain a good number of them.

So we advised that you learn how to make the snacks of your choice greatly either from a professional caterer, friends who know about it before embarking on it. This would not only give you the experience desired but saves you a lot of headaches and time that comes with figuring it out all by yourself.

3. Capital Needed/Money

After researching your proposed snacks business, you should have an idea of the amount roughly needed. The second step will also help to validate your estimate.

Once you know the amount needed, you can then think of where to get the capital from. Either from your savings, loans from friends or family, or even seeking from a microfinance bank. Note : we advise you to start small and you can later expand your business depending on your capability.

4. Equipment and Ingredients

By now, you will have to know the required ingredients and equipment needed for your snacks business. Below is the list of basic materials we think you will need.

Ingredients

Baking powder
Flavour eg Nutmeg
Sugar and Saccharine

Equipment Needed

Baking utensils eg. frying pot and oven
Rod(to stir)
Rolling pin
Fork/ Spoon
Table or flat surface
Packaging materials
Source of fire

Note : You can add or remove from the abovelisted equipment or ingredients depending on the snacks of your choice.

5. Location

This is one of the steps that will determine the success of your business. The location has a lot of impacts on any business. With the extensive research done by you, you will have to find out where your target market is. Snacks business thrives most injunctions, parks, bus stops, and other areas where there are a lot of crowds.

Depending on you and the type of snacks chosen, you can also take your snacks to your target consumers’ place of work. For example, you can take your packaged chin chin busines to banks, schools, churches, organizations, supermarkets for patronage.

6. Creativity

In every lucrative business; there will always be sets of those making the money and those making mouths(complaining). The difference between those people will be creativity, tricks, and tips used by each of them.

You need to apply creativity in whatever snacks business you need to do. Make research on what you think your competitors are not doing well and use it to improve your own snacks business.

It may be adding unique ingredients or even packaging your goods in a different manner. For example, instead of selling chin chin in the normal way, you can decide to choose a name for yours, register your product with NAFDAC and obtain a NAFDAC number for it. Start supplying to supermarkets, organizations, and other large customers of your products. Whatever you intend to do, Just be creative and find ways to sell more than your competitors.

Tips to Make Your Snacks Business Successful

Like every other business, Snacks business in Nigeria takes a lot of effort, time, and energy with the right skills and mindset to make it a success. Below are some tips to help make the right choice.

Ensure your product is of good quality and maintain a clean environment.
Attractively package your product.
Interact and communicate with your customers in a respectful manner
Be consistent with your products in all spheres.
Keep records and audit your business
Buy what is necessary and needed for the growth of your business
Market your product regularly
Register your snacks business if necessary.

Read Also: How To Start A Bakery Business: Ultimate Guide

With all the above tips and steps on snacks business in Nigeria, we are convinced that your business will be successful if applied. We look forward to hearing about your business growth.

Share 💞:

15 Youth Empowerment Programmes in Nigeria – Govt & Private

The 10 Best Night Clubs in Lagos [2024]

Top 10 Best Professions In Africa 2024 [Most Profitable]

Top 10 Best Acting Schools In Nigeria 2024

NASRDA Salary Structure [2024 Updated]

Top 10 Best Investment Opportunities In Nigeria 2024

Snack Production Business Plan In Nigeria

Snack Production Business plan – In today’s Nigeria, it will not be wrong to assume that every Nigerian has had a taste of snack, in fact to so many Nigerians, a snack can be placed in the category of food you take just to get buy , this is common mostly for travelers or say individuals who want to have a feel of food before the real meal arrives. The thing is that most people actually take snacks as food, especially if the meal they want isn’t in sight, in Nigeria’s pigeon we say “use am hold body”. Snacks are usually smaller than our real mean, so it’s safe to say we eat snacks in between our daily meals.

The good thing about having snacks is that the ones that are richly made and well packaged could also offer the body good nutrients. Note that there are badly made snacks too. I have had many so I won’t excuse that for any reason, most times when it comes to snacks production business plan, most people would prefer to use little ingredient to prefer there snack as against a measured quantity, this most times results in making bad snacks that I’ve previously had, however, this can still be avoided, the question now is h ow to start a snacks manufacturing from your home or any where you want, the other questions could be who can go into snack production business .

In all honesty most people still feel that snack production is gender related, so they feel as guys snacks shouldn’t be one of the businesses they should care about, but in reality some of the best snacks I’ve had were made by guys, I’ve also had great snacks by women, I presently have one on my street, you could perceive the aroma from your sitting room. So for a guy who has interest in snack production business, you can always get a snack production business plan for that. Other questions that can be asked includes where can you can sell your home made snacks, these and more are some of the questions I will be willing to answer as we go on with this article.

Who Are Your Snack Consumers?

Just as I will tell all my clients who are interested in a business to first and foremost carry out a personal research on the said business, the snack production business plan will only serve as a map on how to set up the business in Nigeria. Snack consumption covers all demography, in fact there is hardly anyone who doesn’t take snacks for food or some sought of sports.

That is why in most markets in Nigeria snack sellers are not in short supply, with patronage from men and women, boys and girls and everyone who find eating snacks interesting. Now at most organized work places, snacks do come in handy, in such places workers may not have access to a proper restaurant for solid meal, so usually the last resort is the next available snack, note that eating snack is not compulsory but it is necessary.

Other places where you will get snacks in high supply is at ceremonies, in these gathering you get to see different types and variety of snacks from small chops, Indian snacks, vegetable chips etc, that is why I will recommend a snack production business plan pdf.

Economic Importance Of Snack Production Business In Nigeria

From the above write up it is easy to see the economic importance of starting a business such as this, the market opportunities and the readily available buyers that covers all demography. Everyone will not and must not go into making of snacks but with business opportunities such as this, university graduates shouldn’t have any excuse to remain unemployed.

The opportunities in business growth when properly managed can ensure a possibility of expansion in few months from the time you started the business. I know of someone who had big dreams but started on a small scale and within nine months she already had three people working with her, the interesting part in all of these is that, the workers started learning at the initial stage, but then perfected their craft before they became her workers, all these within a space of nine months. There are no hidden methods of growing a business if not through hard work.

Types Of Snacks That Might Interest You..

There is a long list of snack you could learn and add to the ones you already have knowledge of, the truth is that for a very long while I didn’t really categories these as snacks until recently when I went to an eatery and I saw them as snacks on the menu, below are some snacks you can add to you menu;

Spring role
Small Chop (these comprises of rolls, Puff Puff, buns, Chin Chin etc)

How To Set Up A Snack Production Business In Nigeria

I believe this will be your best preferred part of this article, how to stated up your own snack production, I have made a very short list of five most important things you need to start up your business;

Get A Snack Production Business plan Template – A feasibility study on snack production should be one of the first things you should get, like I said earlier on this article, the snack production business plan will serve as a guide, the template contains some vital information that will ease your start up. One may think that setting up a business like this is very easy, but until you start, you will never know.
Business name – A catchy name wouldn’t be a bad idea, all you need is a simple and easy to remember name, back that up with a nice design of your business logo, sometimes business logo can as well be a marketing tool. Ensure to make the right choices for your business.
Location – Most people do not understand what a good location can do for their business, a good location is as good as a good business name, hence the need to be on the lookout for the best possible location for your business.
Register your business And Obtain NAFDAC Clearance – Getting NAFDAC approval will save you from a lot of trouble especially when the business starts growing. NAFDAC is responsible for the regulation of food in Nigeria, ensure to follow all the available rules in order to get this approval. As for registration off business name, you can do that with CAC.
Buy Equipment – Price of these equipment might not be stable that is why I won’t be adding a price tag to the list of equipment I will be writing out;
Deep fryer.
Work tables
Freezer and refrigerator.
Food processor
Spoons (get them in different sizes)
Different types of cake pans
Packaging nylons
Muffin trays
Sealing machine etc.

Other Stuff you need include skilled workers or maybe employ those who you will teach, and then working materials such as flour, sugar, water, Butter, yeast, edible fat, Salt, eggs, vegetable oil etc.

Get Your Snack Production Business Plan. To place an order, pay the sum of N10,000 to

GTBank (Guaranty Trust Bank)

Account Name – Okite Joseph ikenna

Account No – 0044083736

After payment text your name, your e-mail address and bank teller number to 07039768549 ..

Crop Farming Business Plan

Pure Water Business Plan

Dry Cleaning & Laundry Business Plan

Snail Farming Business Plan

Soap Making Business Plan

CHAT WITH US ON WHATSAPP FOR YOUR

Business plans and feasibility studies to get a discount, related post, cashew nuts production business plan in nigeria, coconut chips processing business plan, hotel business plan in nigeria | lodge business, leave a reply cancel reply.

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

GTbank Loan Application And Eligibility

Nirsal mfb loan application portal login, cbn naira intervention | currency intervention, cbn low interest intervention loans 2024/2025.

Information Hood

Switch to the dark mode that's kinder on your eyes at night time.

Switch to the light mode that's kinder on your eyes at day time.

How to Start a Snacks Business in Nigeria (Complete Guide)

Welcome to Informationhood, today we will be talking about how to start a snack selling business in Nigeria. A snack is a light meal usually smaller than the regular meal eaten most times between meals, comes in different form and sizes, can either packaged when cool or served hot.

How to Start a Snacks Business in Nigeria

The consumption of snacks in Nigeria does not regard age, class, tribe or religion, it is eaten by everyone because is a major food in Nigeria. People who are too busy to get a regular meal prefer to take snack to sustain them pending when they get a regular meal. Snacks is served everywhere such as in ceremonies, meetings, birthdays, corporations and organization. Starting a snacks business is a really good option.

I call it a good option, since, you are unemployed and need to get yourself employed here is one, and you are employed and you need to earn more, here is a right option because you will be serving a huge market at large, the progression in this business is obviously high because is one of the fastest growing business you could start with a little capital, move from being unemployed to being self-employed and also be an employer of labor and earn more every day. Due to the high demand of snacks, there is always an opportunity of maximizing your profit either sales of a single snacks or selling varieties of snacks like chin chin, doughnut, small chops, fish rolls, plantain chips, meat pies, and other snacks that are highly consumed.

See How to Start Fruit Juice Business in Nigeria

One exciting thing about this business is that no matter the hardship of the economy the business is not affected because people will always eat snacks everyday even when the prices increase due to the price of the raw materials. Thinking of what kind of snacks to start with here are some you could start with; puff puff, pop corns, meat pies, muffins, buns, sausage rolls, pizzas, cookies and many others varieties of snacks.

Here are the steps to building a successful snack business in Nigeria:

Get a Good Location:

Getting a good location for your business is very essential in starting and having an effective management. As a starter you may not want to invest in buying shops to start.

Top 23 Best Business Ideas to Start in Nigeria and Make millions of Naira

Have your Capital:

Since you have location for your business, set up your capital and write out your budget and expenses for your business. The more you plan big the more investment you require, so you need to decide how much you are willing to commit to your business.

Get Necessary Equipment or Tools:

Getting your tools like fry pans, bowls for mixing, round dough cutter, rolling pins, baking sheets, pastry brush soaps and a table. Getting these tools is really important when running your business. These tools could be gotten easily around you.

Get your appropriate ingredient:

Getting your ingredients like flour which is one of the major ingredient of making snacks in Nigeria, salt, butter, water meat, fish, onion, garlic, carrot, potatoes nutmeg, thyme, curry, pepper, groundnut oil, egg. Getting these ingredients and adding them appropriately into your snacks also counts.

List of Small Businesses to Start in Nigeria with #5,000 or #10,000 Naira

Get Employees:

As soon as you start your business, you will need helping hands, and the more it grows it becomes really stressful for you to handle alone, so you need to employ more people that will help you out with the job so as to ensure smooth running of your business.

No related posts.

What do you think?

I am Favour and easy life gal, i am single and not searching yet lol...i am a fun writer, i love writing and i am glad getting the previladge of writing what ever i want on informationhood. I am just giving my best hopeful i would want to know if you enjoying it. kisses

You must be logged in to post a comment.

With social network:

Forgot password.

Enter your account data and we will send you a link to reset your password.

Username or Email Address

Your password reset link appears to be invalid or expired.

To use social login you have to agree with the storage and handling of your data by this website. %privacy_policy%

Add to Collection

Public collection title

Private collection title

No Collections

Here you'll find all collections you've created before.

Business Plan Hub

Snacks Production Business Plan In Nigeria

September 21, 2020 by admin 2 Comments

Snacks Production Business Plan In Nigeria – Are you going into snack production business and in Nigeria but you don’t really know how to start or how to run a successful snack Production business then I guess you’re in the right place. snack production business in Nigeria is a very lucrative business but many people are not aware of this they just think that it’s just the side road business that doesn’t make a lot of money but has not true snacks are seen as one of the fast food to eat and people in such business and making it big time.

Are you in interested in going into Snacks Production Business In Nigeria but you don’t know how to start or run it . Do you need a detailed sample of a Snacks Production Business In Nigeria or feasibility study? I guess you are in the right place because we’ve got what you have been looking for. GET YOUR Snacks Production Business Plan In Nigeria / Feasibility Study. To place an order, pay N10,000 to

First Bank Account Name: Oliver Uwadia Account Number: 3094192129

Snacks Production Business Plan In Nigeria Latest Edition feasibility studies proposal

After payment text your name, your e-mail address and bank teller number or your transfer reference number to 08107015636 and A Copy of our Snacks Production Business In Nigeria FEASIBILITY STUDY PDF will be send to your email.

TABLE OF CONTENTS – SNACKS PRODUCTION BUSINESS PLAN

Executive summary

Introduction

legal status

location and facilities

Business strategy

key success factors

Nature and size

Target market

Key competitors

Service delivery

Quality Assurance

Production process

Demand and supply analysis

Competitive edge

Marketing Plan

Distribution strategy

Promotion strategy

Market positioning

Service delivery strategy

SWOT Analysis

Organization and Management

Organizational structure

External support

Values and norms of the enterprises

Personnel plan

Legal, Regulatory and Environmental Issues

Legal Issues

Environmental issues

Social issues

Regulatory issues

Financial Plan

Project cost

Working capital forecast

Funding requirement

Funding plan

Loan and interest repayment schedule

Depreciation

Cost of sales

Projected income statement

Projected cash flow statement

Projected balance sheet

Financial analysis

Risk Analysis, contingency plan and Exit strategy

Risk analysis

Contingency plan/Exit strategy

Other considerations, conclusions and Recommendations

Economic Justification

Commercial Viability

Conclusion/Recommendations

Get our other business plan

Cucumber Farming In Nigeria PDF
Standard Cassava Processing with 3 Years Financial Analysis
Cooking Gas In Nigeria PDF
Logistics In Nigeria Feasibility Study PDF

many people go around this business wrongly because they think it’s just the roadside business so they fail to make the proper research that is needed to make their business grow more than the way they want and think it can grow. do you want to promote your snack production business in Nigeria then I have to do is to get a snack production business plan in Nigeria and you see the difference between you and other company. a business plan helps your business grow the way you want it, it helps you to manage and make profit and help build your business in your own vision just the way you want it to grow and the way it should grow

snack consumption is done by everyone. everyone eats snacks either young or old, male or female, rich or poor. whether it’s a market man or woman student or people that sit in the office, snack consumption is done by everyone, snack is a major part of food and also compulsory for a lot them who finds it hard to eat regular meals during work hours because of how their job takes more of their time.

Don’t forget when you attend some ceremonies at the end of gathering they do share snacks whether is wedding birthday parties religious ceremony even office get together party by corporations and organisations they do share snacks at the end. are you considering going into snack production business then it is a good decision, why we say it a good decision this is because snack production business has a huge market, and also it is very easy for someone to succeed in this business as long that it is done right, and so you can easy expand your business in a short period of time you can move from self employed to being an employer. because snack is on the high in terms of demand, the best possible opportunity of maximizing profit with the from sales of a single sales like in the case of cake or profit call from so fast and quick turnover. below are the types of snacks

Small chops e.g. puff puff, mini sausage rolls, buns e.t.c
Peppered gizzard.
Spring roll.
Plantain chips.
Cookies (vanilla and chocolate chip cookies).
Waffles. and lot more

The list still goes on, you can modified your list of production by add some foreign snacks ideas to your list and make it a bit different that the normal snacks in Nigeria. Let me explain further this year there’s been a lot of advocacy for healthy eating. So adding a different category or variety of snacks will definitely draw attention to you and your business. Note that there is a lot of competition that you have to face in Snack production business, this should be a wake up call to you, it should make you inventive and innovative and creative in this business. Below are list of healthy snack you can add to your business.

Apple, seedless grapes and banana mix.
Mango and cucumber mix.
Groundnut and cashew nut mix.
Raisins and dried pumpkin seed mix. Raisins are dried grapes.
Dried banana, raisins and cashew nuts mix.
Oatmeal bars.

Pleases note that Snacks ether fresh fruits have to be hygienically prepared, stored in the refrigerator and not kept for more than a week.

How To Set Up a Snack Production Business.

Market research; Before going into any business in world, you need to make a research about the business that you are going into. Some people who want to go into snack production business would be thinking that they know all about the business and a market research is not really necessary, if you are among those who are thinking that way, you are wrong big time. Snack production business is a very popular business, so many people are already doing the business before you think about going into the business, many has gone into this business without researching the business and they failed to develop and build their business the way they wanted.So if you don’t want to end up like them then you have to do what is neede so that you business will grow the way you hope it would. Many asked what is A Market Research it means a process where data, information and recordings are logically gathered and analysed to let you know the customers available to purchase your products, the already existing competitors in the business and the available market for your products. In simpler terms, a market research will help you know

Who your major buyers will be.
What is trending in the business, especially around your choice location.
Who your competitors are and
If available products are giving customers satisfaction. If you find that existing products are not meeting customers satisfaction, you can capitalise on this and turn it to a huge advantage for your business. So do your market research, find out the missing link and be ready to fill in that missing link.

Feasibility studies: This is an important step. A feasibility studies will help you analyze the business project that you have proposed and if it is possible and also if it will be possible at the proposed estimated cost you want to start up with. Feasibility studies will help you analyze the legal, technical, organisational and financial factors of your business

Location: this is an important aspect to your business because for any business to be able to grow it depends on its location. whether you are starting on a small scale or medium to large scale you need a good location to sell your products. Need to go to a busy place and set up your business a place that is easy to access. A well place location that is open to every folks of lives a proximity to halls that are rented out for events.

Purchase your equipments : Get the right equipment for yor business we list the equipment you need below

Deep fryer.
Freezer and refrigerator.
Food processor.
Work tables. Remember to coat table surface with durable material that will not leave wood particles in the snacks.
Spoons of various sizes.
Gas or stove cooker.
Variety of cake pans.
Muffin trays
Shelve to keep products and allow them cool off, and for products display as well.
Sealing machine.
Packaging nylons.
Show glass.

Materials needed : Below are some of the major materials needed for snacks production business.

Edible fat.
Minced meat for meat pies. You can buy meat and mince it yourself if you purchase the machine.
Egg for egg roll production.
Vegetable oil.

GET YOUR Snacks Production Business Plan In Nigeria / Feasibility Study. To place an order, pay N10,000 to

OTHER BUSINESS PLAN IN NIGERIA WITH RECENT UPDATE

Barbing Salon Business Plan In Nigeria PDF
Tilapia Fish Farming Business Plan In Nigeria PDF
Poultry Business Plan For Layers In Nigeria Feasibility Study
Waste Recycling Business Plan In Nigeria PDF
Pharmacy Business Plan In Nigeria Latest Edition Feasibility Studies PDF
Cosmetics Business Plan In Nigeria Latest Edition Feasibility
Bakery Business Plan In Nigeria Latest Edition feasibility studies proposal

Unveilling the lucrative potential of Nigeria’s thriving snack market

By Kojo BRIFO

Nigeria’s consumer landscape is undergoing a significant transformation – and the snacking sector is at the forefront of this change. Beyond its vibrant culture and breathtaking landscapes, Nigeria boasts a rapidly growing snack market fuelled by urbanisation, rising disposable incomes and evolving consumer preferences.

The Nigerian snack food industry was valued at US$883million in 2021 and is projected to reach US$1.5billion by 2024, reflecting an estimated annual growth rate of 20%.

The legacy of flavour: a foundation for innovation

Africa’s rich flavour heritage and cultural influences lay the groundwork for the continent’s snacking culture. For centuries, communities have utilised readily available ingredients like plantain, peanuts, corn and cassava to create simple yet flavourful snacks.

These traditional options – such as Kulikuli (paste peanuts), Suya, Biltong, Boli (grilled plantain), Akara, meat pie and the ubiquitous puff-puff – remain popular, offering a connection to cultural roots and a foundation for future flavour innovation. As these snacks continue to evolve and inspire, they serve as a testament to the vibrant tapestry of Africa’s and Nigeria’s sweet and culinary heritage, inviting food enthusiasts to savour the rich and diverse world of indigenous snacks.

The modern landscape: balancing tradition with convenience

Today’s Nigerian snacking scene thrives on a unique blend of tradition and contemporary trends. The popularity of regional specialties like Chin-Chin, Plantain Chips, extruded corn with cheese flavours and sausage-rolls demonstrates the enduring appeal of heritage flavours. Stricter regulations have also led to improvements in quality and packaging, ensuring a more consistent and appealing product for consumers.

However, the rise of urban life and busy lifestyles has fuelled a surge in commercially produced snacks. Local companies have embraced this shift, packaging traditional treats in convenient formats to cater for the on-the-go consumer. International brands have also entered the fray, capitalising on rising disposable incomes and a growing appetite for variety. This dynamic interplay between tradition and convenience presents a lucrative opportunity for manufacturers who can offer innovative products that resonate with local preferences.

Understanding the Snacking Ecosystem: Key Considerations

Street hawkers and vendors : Street food holds a special place in the sweet landscape of any country, serving as a window into its cultural soul and gastronomic traditions. In Nigeria, street food is more than just a convenient option; it’s a way of life and an integral part of the country’s culinary heritage.

From bustling markets to roadside stalls, the streets of Nigeria are alive with the aroma of sizzling meats, savoury and sweet snacks, and aromatic spices. Nigerian street food reflects the country’s rich diversity, blending influences from various ethnic groups and regions to create a tapestry of flavours and textures. Beyond satisfying hunger, Nigerian street food fosters social connections; bringing people together to share in the joy of good food and cultural exchange.

Millennials on the move: Millennials are a key demographic shaping snacking trends in Nigeria. Time constraints and busy lifestyles have led them to adopt snacking as a meal replacement, demanding convenient options that are both filling and flavourful. Available sachetised snacks, sold at traffic spots with extended shelf-life, are gaining traction.

Beyond practicality, millennials crave exciting taste experiences. Bold spices, innovative flavour combinations and playful shapes can all capture the attention of this demographic. Manufacturers who can cater to this adventurous spirit and tap into the ‘fun factor’ of snacking are well-positioned to win over millennial consumers.

Health meets indulgence: While convenience and excitement remain key drivers, health consciousness is also playing an increasingly important role. Consumers are actively seeking out ‘permissible indulgence’ snacks that combine deliciousness with healthier ingredients like nuts, whole grains and vegetables.

Additionally, the rise of allergy awareness has led to an increased demand for gluten-free and allergen-friendly options. This trend presents a significant opportunity for manufacturers to develop innovative snack formulations that cater to both indulgence and health aspirations.

Freddy Hirsch Nigeria as a partner for local success

Freddy Hirsch Nigeria recognises the importance of local flavours and preferences. By leveraging deep consumer insights, we develop winning snack flavour profiles specifically for the West African region. This meticulous approach considers factors like preferred spice levels, textures and the unique flavour profiles of various regions. We have developed new snack flavour categories such as cheese, hot and spicy, smoke (BBQ and Suya), sweet (vanilla, milk, banana, caramel and butter) and vegetable (caramelised onion, tomato and ginger).

Freddy Hirsch goes beyond flavour creation, working closely with snack manufacturers to refine production processes. Our focus on quality control ensures consistent flavour delivery and optimal shelf-life, building consumer trust and brand loyalty.

Additionally, we prioritise responsible sourcing practices by utilising locally-sourced ingredients whenever possible. Not only does this reduce our environmental footprint but it also strengthens the local agricultural economy. We actively explore ways to minimise waste throughout the production process, catering to environmentally conscious consumers.

According to Mondelēz’s State of Snacking report, snacks are less resistant to inflation as a meal since 71% of people around the world snack at least twice a day – with consumers doing it more during breakfast, lunch and dinner last year compared to 2020.

In the report, about 80% of surveyed consumers emphasised the need for snacking indulgences every day. McCormick’s 2024 Trend Report on snacking stated that 64% of Canadian and 73% of U.S. consumers claim to eat savoury snacks 2-3 times a week or more.

The importance of snacks cannot be overemphasised and Freddy Hirsch Nigeria continues to develop authentic local snack flavours at the most affordable costs, given its non-FX requirements, without sacrificing convenience and quality.

Freddy Hirsch Nigeria is committed to transforming snack products – chips, crackers, nuts, popcorn, biscuits – into inspiring ones and improving on texture, mouthfeel and nutritional and sustainability benefits. The ability to adapt to local taste differentiates Freddy Hirsch and makes its flavours unique.

Kojo Brifo is Managing Director-Freddy Hirsch Nigeria and West Africa.

How to Write a Business Plan for a Food Business

Do you own a food business in Nigeria or do you have a plan to own one? If your answer is yes, then you need a business plan. Many businesses underestimate the importance of business plans, this is one of the major reasons why so many businesses fail . As the owner or prospective owner of an SME in Nigeria under the food sector, it is imperative to have a business plan. Let’s show you how to write a simple business plan for your food business.

What is a Business Plan?

A business plan is a plan that shows how your business will work and succeed. It is also the road map that guides your business from conception to success. There are different kinds of business plans depending on the purpose and the kind of business. A small food business doesn’t need a complicated business plan. If you are an SME in Nigeria, then you can have a one-page business plan .

Steps to Writing a One-Page Business Plan for your Food Business

This type of business plan is also known as a one-pager. It pushes you to produce clear thoughts about your food business because of its framework. The whole idea revolves around putting all the essentials on a single page.

Here’s what your one-page food business plan should contain:

a. One-line pitch

b. Business Summary

c. Management

d. Customer Problem

e. Product/Services

f. Target Market

g. Sales/Marketing Strategy

h. Financials

Below is an outline of a sample business plan for food products or restaurants and bars.

a. Company name – This is where you fill in the company name. We will make use of ZFT Foods in this post.

b. Product name – What product are you selling to the public? You can have a range of products or a single product. Most food businesses have a range of products.

c. Customer problem – What problems are you trying to fix? This gives you a clear picture of who your target market and your competitors will be.

One-page Business Plan for Food Business

One-line pitch.

The one-line pitch helps you to grab the attention of the person reading your business plan. Don’t mistake this for a slogan or catchphrase, it is a pitch. So you can go with something like:

Enjoy amazing local and continental dishes at an affordable rate at ZFT Foods. We focus on providing healthy and delicious meals to meet your daily needs.

Business Summary

The business summary provides a clear description of the business and its objectives. You can also mention the products briefly, even though there’s a whole section dedicated to product description.

a. Business name – ZFT Foods

b. Business location – No. 123, XYZ Street, City, and State.

c. Business mission and vision statements.

d. A brief description of what the business is about.

Management Structure

This section of the one-page business plan describes the leadership of the business, you will be answering questions such as:

a. Who owns the business?

b. Who runs the business?

c. Who else is on the management team?

Give a comprehensive description of the individual, stating their qualifications for the job. If you have partners, state who they are and also their qualifications.

Customer Problem

This is the basis of your business and determines the structure, raw materials, capital required, etc. Here’s an example to make this point clearer.

Customers on XYZ Street and its environs need tasty affordable meals in a serene location. Many of them also desire to have access to take-away packages of different sizes.

Product/Service Offerings

This part of the business plan gives a clear picture of your product or service offerings. You don’t just describe the products, you describe how you want to deliver them to your customers. It requires you to create a list of all the products you plan to offer. Be careful not to reveal your trade secret here. Many SMEs in Nigeria make that mistake when writing business plans.

Target Market

This section answers the question, “Who needs your products?” While it is crucial to state your current market, you should also have projections. This means that you should highlight who you plan to sell to in the nearest future beyond your current market.

Based on our example above, ZFT has the following under this section:

a. People staying on XYZ Street and environs.

b. Workers

c. Students, etc.

Sales/Marketing Strategy

How do you plan to reach out to your target market? This is the section where you provide the answer to this question and explain your strategies in clear terms. Will you employ marketers? Do you plan to make use of a physical marketing model or you will drive sales using social media? Are you going to build a website?.

This is one of the most important aspects of a business plan. Investors want to know the viability of the business. If it is a startup business, then you should provide projections for the next few years. An existing business may need to provide revenue, expenditure, and profit figures for previous years.

Samuel Moore

Design our Future Passenger Experience 2023

100X Accelerator 2023

EBRD AgVenture Challenge

New account

Forgot your password?

Lost your password? Please enter your email address. You will receive mail with link to set new password.

Back to login

Press ESC to close

Or check our popular categories....

How To Write A Business Plan In Nigeria (Free Samples And Templates)

This post concludes is the last of the series on “How to write a business plan” . The major challenge when it comes to writing a business plan is knowing where to start from. This most business owners and entrepreneurs don’t always get right. Looking through existing business plan templates gives a clear picture of what your business plan should look like.

This post contains a long list of free sample business plan templates that will give you the easy start you really need to write your own business plan.

1. Catering Business Plan

If you love to cook and are thinking about starting a business, combine the two and start a small catering business. But how do you start a small catering business? It’s by having a great business plan detailing every aspect of the business before you get started.

2. Event Planning Business Plan

Starting a catering business in Nigeria is a lucrative business with very good returns, with thousands of events and parties happening every weekend across the country. Event planning business requires a combination of education if necessary, an experience and excellent networking.

Also Read: How to Write a Business Proposal for Clients in Nigeria.

3. Hair & Beauty Salon Business Plan

Salon Business is one of the best and lucrative business in Nigeria right now because it does not cost much and requires little capital to start. Either a barbing salon or beauty salon for women pay a lot because it requires no college degree to start one but skill.

4. Day Care & Child Care Business Plan

Many Nigerian mothers are working at paid jobs or running their own small businesses which consume most of their time. As a result of this trend, there is a growing opportunity for convenience services like child and day care center businesses.

5. Driving School Business Plan

Are you an expert driver? Can you successfully teach others how to drive? If yes, you may be qualified to start a car driving school. There is a great opportunity in this business because most Nigerian are looking forward to owning their own cars. School leavers are also eager to learn how to drive.

6. Agriculture Farm Business Plan

Nigeria is blessed with a favorable soil and climatic condition that can accommodate crops such as onion, carrot, cocoa yam, pear, potatoes, okra, vegetables, beans and so much more. Starting an agriculture farm business is a profitable business opportunity with so much market to serve.

7. Feed and Farm Supply Business Plan

The feed farm production industry has been largely promoted as one of the most profitable agribusinesses to venture into. Africa, especially Nigeria, has a major impact on the worldwide production and distribution of livestock feed.

Also Read: [PART 1] How to write a business plan – Tips when writing your business plan.

8. Fitness Gym Business Plan

Health they say is wealth; the need for health is the need of all both young and old, both for the rich and the poor alike. Would you like to invest in the fitness business, or are you thinking of a business to invest in? You should consider this business option.

9.Pharmacy Business Plan

Pharmacy or drug store business, whether we like or not, has become an integral part of the Nigerian economy today. In a nutshell, drugstores are described as retail establishments that market drugs, be it prescription-based, proprietary, or nonprescription medicine.

10. Fast Food Restaurant Business Plan

The fast-food business in Nigeria is a very profitable business. Food is something we cannot do without even if it’s once a day. The growing population of Nigeria with over 180 million people is also a high contributing factor to the profitability of fast food business in Nigeria. Amidst the current global crisis, one line of business in Nigeria that continues to promise greater returns on investment is the fast food business.

11. Bakery Business Plan

The consumption of bread and other bakery products such as biscuits, chin-chin, gala and meat pie among others, has created a huge market for the wheat flour industry. This sector has provided a lot of opportunities while more opportunities are still open for interested investors that are willing to invest some cash.

12. Internet Cafe Business Plan

The demand for internet cafe services in Nigeria is high especially in business enabled environments like tertiary institutions, offices and in different work areas. This business is one of the profitable medium scale businesses in Nigeria; the business can give a high-profit margin when managed properly.

13. Clothing Boutique Retail Business Plan

Starting your own clothing shop boutique is a good business idea in Nigeria because the fashion industry is one powerful sector that will always be vibrant in any economy because all over the world, people have a basic need for clothing. Beyond this need, fashion is also evolving on daily basis due to the huge and diverse interest in styles.

Also Read: [PART 2] How to write a business plan – Basic template contents & structure.

14. Automotive Car Repair Business Plan

Nigeria is and will always be a big market for cars, both used and new ones. Compared to other African countries, Nigeria alone spends up to $5 billion dollars every year importing vehicles (especially second-hand) from the USA, Canada, Europe, and Asia. Which makes the industry an area worthy of investing.

15. Car Wash Business Plan

The good aspect of this business is that it does not necessarily require a large amount of capital or funding especially when you intend to start. For those who have enough money to invest, this will be a good decision as with more money invested, the business can grow much better and faster leading to better and profitable returns.

Other business plan samples and templates include;

16. Used Cars Sales Business Plan.

17. Online Print Shop Business Plan .

18. E-commerce Retailer Business Plan .

19. Coffeehouse Business Plan.

20. Night Club Business Plan.

Categorized in:

5 ai-powered video marketing tips for small businesses in nigeria, how to start an exportation business in nigeria, 10 most lucrative business to invest in nigeria, how to use threads by instagram: a step-by-step guide, small business insurance: what you need to know, cac registration: a guide on how to register a company online in nigeria , other stories, bookkeeping for small business why you should hire a bookkeeper., best payment alternative to paypal for nigerians..

Start free trial

Start selling with Shopify today

Start your free trial with Shopify today—then use these resources to guide you through every step of the process.

13 Food Business Ideas to Launch Today (2024)

Browse this list of food business ideas and learn how to develop a business plan for your food industry startup.

image of guy cooking in a money themed food truck

Tastes may differ from person to person, but one thing’s for certain: everyone needs to eat.

With so many potential customers and such a wide variety of product offerings, no matter how many food retailers enter the market, there’s always room for one more.

If you’ve decided to get into the food business as a first-time merchant, here are a few ideas to get you started.

13 food business ideas to launch today

Ice cream shop
Cooking classes
Personal chef
Coffee shop
Baked goods
Prepackaged snacks
Homemade jams and jellies
Organic foods
Wine, beer, and spirits

Every food business has advantages and disadvantages, so consider what you’ll be able to commit to and choose the food business idea that’s best for you.

To get started, here are 13 ideas for products and services to inspire you.

1. Food truck

A fish and chips food truck with a customer against city background

Food trucks are an especially popular way to get into the food business. Right now, growth in food trucks is outpacing that of traditional restaurants , and it’s not hard to see why.

A food truck business can give a chef the same opportunity they’d get with a restaurant to develop their own unique menu, but with the added benefit of mobility.

Getting customers through the door can be one of the biggest challenges that comes with owning a restaurant, so why not bring the restaurant to your customers?

Benefits

Mobility: With a food truck business, startup entrepreneurs can go where their customers are. You can park in a popular area downtown, by the beach, by the park—wherever.
Creative control: For aspiring chefs, a food truck provides an opportunity to create your own one-of-a-kind menu at a much lower cost than owning a restaurant.
Legal learning-curve: Most cities and towns have unique zoning laws that outline where and when you’re able to sell your product, so you’ll need to familiarize yourself with the laws in any jurisdiction in which you’ll be selling. There are also local health department codes to stay privy to, so be sure to look them up for the areas where you plan to sell.

⭐ Get inspired: The Cheese Bar’s Journey From Food Truck to Seven Figures and Multichannel Success

2. Ice cream shop

Ice cream is one of the world’s most beloved deserts and an excellent food business idea. In fact, the ice cream industry is expected to be worth $135.6 billion worldwide by 2029 , meaning the industry is set to become increasingly profitable over the next few years.

Ice cream can be served alongside just about any other dessert and comes in a wide variety of styles, including frozen yogurt, sorbet, gelato, and frozen custard. With endless recipe ideas, ice cream is great for niching.

Creative control: Ice cream lends itself to endless flavor combinations, making it great for especially inventive entrepreneurs.
Seasonal downtime: While it’s hugely popular in the summer, sales can slow down in the winter for this food business. Luckily, ice cream is versatile enough that there’s a wide array of seasonal varieties⁠—like pumpkin spice in the fall or candy cane during the winter holidays.

When University of Washington graduates Ivana Orlovic and William Hubbell developed an edible, egg-free version of cookie dough, they knew they were on to something. Sugar + Spoon creates rich, creamy treats by combining cookie dough and ice cream with a number of toppings and flavors.

Sugar + Spoon’s ecommerce homepage featuring hands with 2 ice cream cones with signature toppings

Sugar + Spoon maintains a strong online following and sells out of its storefront in Seattle, as well as at pop-up shops, food truck events, and online. It even offers DIY ice cream packs, letting customers combine their favorite flavors into a single purchase.

⭐ Get inspired: How These 4 Pop-Up Shops Went Viral (And How Yours Can Too)

3. Cooking classes

Two people standing at a kitchen island learning how to cook with creuset kitchenware nearby

If you’re into a more hands-on personal approach for your food business, then cooking classes may be just what you’re looking for. Teaching can be an extremely rewarding experience, and there’s no shortage of options in how to approach it.

You could offer online courses or in-person classes. You might pre-record your courses and allow students to watch at their convenience, or do live one-night-only events for an online audience.

No matter your skill level, teaching others is a great way to hone your cooking skills and build personal relationships with your audience.

Scalability: Cooking classes tend to be especially scalable because of the personal connection students will have to your brand. Selling products or services in addition to your classes could be a great way to leverage those relationships.
Exposure: You’ll need to be front and center if you’re promoting yourself as a cooking teacher. So, business owners who are less extroverted might prefer a business idea that provides more distance between their brand and their personal lives.

Before her passing in January 2023, 84-year-old Nonna Nerina welcomed an audience into her kitchen in a small village in Italy via online video conferencing. When viewers tune in to Nonna Live , they’re transported directly to an authentic Italian kitchen and taught recipes, by a staff of Nonnas, that have been passed down for generations.

On Nonna Live’s website, customers select a date and time and reserve their spot in a number of online classes. They’re provided a list of ingredients and supplies, and when the time comes, all of the Nonna’s students gather for a live hands-on cooking lesson.

⭐ Get inspired: This 84-Year-Old Grandmother Serves Comfort and Community Through Livestreamed Cooking Classes

4. Personal chef

If you’ve ever been in sales, you know the skills needed to build a personal relationship with your clients. If you’re looking for one food business idea that offers that chance, then becoming a personal chef might be right up your alley.

Personal chefs are trained cooks hired to provide at-home meals for their clients, who often may have special dietary needs or preferences. They can be employed by individuals, families, or caterers, or for special events.

Relationship building: Being a personal chef is a great option for entrepreneurs with sales experience who understand the importance of maintaining client relationships.
High barrier of entry: Being a personal chef typically requires more skill and experience than other food businesses, since these things will be your primary selling points.
Unpredictable hours: Your hours may be less flexible than other types of food businesses, as you will need to work around customers’ schedules.

5. Coffee shop

Coffee is a vital part of many people’s morning routine, so it should come as no surprise that the industry is expected to reach revenues of $166.39 billion by 2029 . Coffee beans are widely available from dropshippers meaning overhead costs can be kept low.

There’s also a small-business advantage for first-time merchants who decide to sell coffee . Since it’s a widely available product, customers tend to value exclusivity when it comes to coffee, meaning they’re more receptive to new brands.

Small-brand advantage: The high volume of customers puts an emphasis on branding, giving the advantage to smaller brands.
Low barrier of entry: With plenty of dropshipping options available, startup costs can be kept low. And since your product is coming from a third party, you can focus on branding your product rather than developing it.
Harder to market: Coffee is widely available, which puts more importance on a brand’s ability to carve out a niche and set itself apart from competitors. If brand development isn’t your strongest attribute, selling coffee could be more of a challenge.

Steeltown Garage is a Hamilton, Ontario–based retailer of premium apparel and specialty coffee. At the start, Steeltown Garage sold graphic tees built around its freewheeling lifestyle brand. As the brand grew, so did its products.

Steeltown Garage online store product page featuring gloves, sunglasses, and a helmet

Steeltown Garage now sells a wide range of premium motorcycle-riding gear, grooming products, vintage art, posters, and, of course, coffee. Branding is vital when selling coffee, and Steeltown Garage understands this. Despite all of the products it sells, Steeltown Garage’s collections are harmonized around a brand that resonates with its audience.

⭐ Get inspired: How James Hoffmann Found His Niche and Became the Coffee Expert on YouTube

6. Meal kits

Meal kits are a type of food delivery business offering pre-portioned ingredients and recipes for creating high-quality dishes at home. They’ve grown increasingly popular over the past couple of years, aiming to combine the convenience of fast food with the quality of at-home cooking.

Meal kits can be sold on a subscription-based model , wherein retailers provide customers with a new meal on a recurring basis. Or you might create a collection of meal kits and sell them à la carte.

Niching opportunities: Meal kits are a relatively young business, so there’s plenty of room for new brands and a lot of niches for specific foods that remain untapped.
Shipping perishables: Spoilage might be a bigger concern when it comes to meal kits, as fresh foods can only be stored for a limited time and it might be harder to keep items refrigerated during shipping.

The Dough Bros is a wood-fired pizza restaurant operating out of Galway, Ireland. For customers that can’t make it to the restaurant, The Dough Bros offers ready-made pizza kits that come with all the toppings and sauce to make the brand’s signature slices at home.

The Dough Bros pizza kit page featuring close ups of the margherita and pepperoni pizza kits

When it comes to meal kits, large brands may have more name recognition, but what they don’t have is a specialty. The Dough Bros’ branding works because it takes a beloved pizza, enhances it with the meal-kit model, and immediately sets itself apart from larger brands.

⭐ Get inspired: How To Start a Subscription Business: A 2024 Guide

7. Baked goods

Bakeries are one of the oldest types of food businesses. Baked goods have become a staple of holidays and special events, making them popular year round. Perhaps that’s why the baking industry generates more than $99 billion annually .

Selling baked goods can open a lot of other doors for your brand. You could sell baked goods for specific dietary restrictions, or specialize in something more specific, like bread, cookies, cakes, pastries, or pies⁠.

High-demand for specialty bakeries: Finding baked goods that cater to specific dietary needs is still a challenge for a lot of customers, meaning there’s a high demand for them and plenty of room for newer brands.
Time-consuming: Baking can take longer than other types of cooking and on a retail-scale, is often a job for more than one person. You may need to hire more staff than you would for other food businesses.
Higher-costs when scaling: Renting commercial baking space and running high-energy ovens can become costly very quickly, so it might take some time before you’re able to scale your business.

Katz Gluten Free specializes in baked goods for a wide range of allergies and dietary restrictions that might be harder to find in a grocery store. Katz’s variety is extensive⁠—selling items such as whole wheat bread, cream-filled cupcakes, and apple fritters.

Katz Gluten Free homepage featuring baked good products like donuts, fruit pies, and creme cakes.

Despite the selection of products, Katz is laser focused when it comes to its branding. Dietary restrictions can make shopping hard, but Katz stands out as a brand because it does everything in its power to make it easy. Katz’s website even has a special “Shop By Allergy” tab that lets visitors quickly and easily filter out any products they might be allergic to.

⭐ Get inspired: How to Write a Bakery Business Plan in 9 Steps

Sauces can be a great product to sell for first-time merchants. Food aficionados are always looking for new tastes to try, so they tend to be more receptive to less familiar brands when it comes to sauces.

On top of this, sauces have a tendency to grow cult followings⁠—think of the popularity of sriracha sauce or the communities built around hot hot sauces. Sauce is versatile. That means if customers grow a taste for yours, they’ll want to try it on everything.

Sauces are a feature of nearly every cuisine. They’re relatively easy to adapt to any dietary restrictions. They can be savory, sweet, spicy, or all three.

And sauces don’t just have to be a feature of dinnertime. Dessert sauces like custard, butterscotch, hot fudge, and fruit-flavored sauces are equally popular.

Customer loyalty: When food-lovers find a taste they like, they tend to stick with it. Repeat purchasers are more common when it comes to sauces, because the product’s versatility makes it adaptable to many dishes.
Adventurous clientele: New customers are more receptive to unfamiliar brands when it comes to sauces, especially if they have unique branding.
Getting the right taste: The appeal of sauces is in their uniqueness, but people also tend to be drawn to familiarity when it comes to taste. Striking the right balance of flavors can sometimes be challenging.

Heartbeat Hot Sauces homepage with bottles of its Louisiana-style hot sauce and a free sticker promo

Based in Thunder Bay, Ontario, Heartbeat Hot Sauce develops, cooks, bottles, and distributes its own signature line of hot sauces. Heartbeat Hot Sauce offers staples like piri piri and Louisiana-style hot sauce, alongside more unique flavor combinations like pineapple and blueberry habanero.

The flavors in Heartbeat’s line of hot sauces hit all the right notes, blending familiarity with novelty. The brand also maintains a strong online relationship with its community on Instagram.

⭐ Get inspired: How Heatonist Became the World’s Top Hot Sauce Website

9. Prepackaged snacks

Chips, nuts, pretzels, popcorn, granola bars, or maybe a mixture of all of them⁠—prepackaged snack products come in limitless varieties. Prepackaged snacks are a staple of both adventurous outdoor excursions and late-night cravings⁠—and nearly everyone has a fondness for them.

The market for savory snacks in North America is expected to reach $139.4 billion in 2024 , meaning there’s a lot of room for new merchants with a unique product. With a little bit of grit and luck, you could even land your snacks in grocery stores.

Wide product variety: A large selection of food and flavor possibilities, combined with a uniquely labeled package, make it easier to differentiate your brand from the competition when it comes to prepackaged snacks.
Competing with large brands: The snack-food industry does have a lot of established brands, so your biggest challenge will be differentiating your products from your competitors.

Based in the United Kingdom, The Snaffling Pig sells all kinds of prepackaged snacks, but its signature is its pork crackling⁠—a chip-esque snack made from dried pork meat and seasonings. The brand also sells nuts, pork rinds, chorizo bites, and even beers and ciders, flavored to compliment its snacks.

Snack board with beer and Snaffling Pig snacks like fried pork skin, peanuts, and apple sauce.

What brings these elements together is The Snaffling Pig’s branding, which aims to recreate the flavors of casual pub food, drawing on its own nostalgic memories to create a sense of camaraderie with the brand.

10. Baby food

Baby wearing a hat with a striped shirt on and a fork in its mouth, ready to eat a snack.

Every parent wants to give their child the best, most nutritious food there is. Why not cater to this huge market? Baby food is one of the easier things to make and sell and can be a great first-time home-based business .

There’s also growth potential with a baby food business. Doctors recommend different types of foods for babies of different ages⁠—starting with formula for newborns, mashed foods after about six months, and, finally, softer solid foods for toddlers.

This opens up a lot of opportunities for cross-marketing and creating repeat buyers of those with growing children. With the global baby food market on track to grow to more than $155 billion by 2032 , there’s lots of new customers on the way.

Repeat purchases: Baby food lends itself well to obtaining repeat customers and building brand loyalty, since trust is so important.
Market availability: Right now, there’s a large market for organic baby food and baby food made for various dietary restrictions, giving new merchants the opportunity to carve out a niche.
Building trust: Parents are very cautious about trying new brands when it comes to food items for babies. Gaining the trust of new parents over brands that have more name recognition will likely be your biggest challenge.

Fragola is a baby food brand based in Innisfil, Ontario. Fragola offers both one-time orders and baby food subscriptions that offer a new combination of flavors each week.

Fragola’s website with packages of its baby food with cut up persimmons and broccoli florets nearby

Fragola’s branding puts a lot of emphasis on nutrition and the freshness of its products. The first page of its order form breaks down the nutritional value of its products, and on-page copy often explores their reasons for selecting certain foods over others.

Fragola understands that it needs to establish trust with its customers right away. Parents are immediately made aware of the care put into selecting the best ingredients, which already helps set it apart from larger brands.

11. Homemade jams and jellies

Jams and jellies are a great low-cost business to start for entrepreneurs interested in growing their own fresh produce. At-home jam jarring machines are relatively inexpensive, and growing your own ingredients will add a personal touch to your brand that will resonate with customers.

On top of this, farmers markets are a great place to meet potential customers in person. While the volume of customers might be smaller than online, face-to-face sales opportunities tend to provide more value in terms of customer loyalty and word-of-mouth sales.

Small-brand advantage: When it comes to jams, customers tend to view products from larger brands as being less nutritious and containing more preservatives, which gives an advantage to smaller brands.
Time management: Growing produce can take a lot of time and is especially dependent on the changing of the seasons, meaning precise planning will be more important than with other food products.

Fruits of the Forage is a UK-based retailer of jams, jellies, marmalades, sauces, and other fresh preserves.

For smaller brands, setting yourself apart from your larger competitors is crucial. That’s why Fruits of the Forage bases its branding around the freshness of its ingredients and the championing of local produce, highlighting what makes the brand different.

12. Organic foods

Carrot bushels in the foreground and beets in the background with a sign of $2.50 a bunch

Organic foods are foods produced using natural fertilizers, as opposed to chemical pesticides. Official standards can vary between organizations and regions, but they all place emphasis on the recycling of resources, ecological balance, and long-term sustainability.

Organic foods have grown incredibly popular in the past decade as the safety of pesticides has become an important concern for a lot of customers. You could sell raw, organic produce or use organic ingredients in your food products.

Fresh branding: Organic products have become especially popular among customers, so the use of organic ingredients can be a positive highlight in your branding.
Harder to source: Depending on your product, it may be challenging to source some organically grown ingredients.

13. Wine, beer, and spirits

Socializing over alcoholic beverages is a common pastime. They’re popular year round but still lend themselves well to seasonal promotions, with plenty of opportunities to test out new products.

Like with jams and jellies, selling wine can give you the opportunity to grow your own fresh ingredients, and wine-tasting events can be a great way to establish meaningful customer relationships.

With beer, craft breweries (sometimes called microbreweries) have become increasingly popular in the past couple of years, so beer connoisseurs place a lot of value in exclusivity⁠—something that gives smaller brands an advantage.

Thirst for new products: When it comes to alcoholic beverages, buyers place a higher value on novelty and exclusivity, so they’re more open to trying new products.
In-person promotion opportunities: Alcoholic beverages are common at events featuring large gatherings of people, providing in-person opportunities to build relationships with your customers.
Legal complications: There are a lot of laws governing the sale of alcohol and they can differ greatly between jurisdictions, so you’ll need to spend a lot of time familiarizing yourself with the laws in any location you plan on selling in or shipping to.

Haus is a California-based brand specializing in apéritifs⁠—alcoholic beverages that are rich in flavor, low in alcohol, and meant to be served before a meal. Haus isn’t shy about emphasizing the freshness of its products, using only natural ingredients, like locally sourced fruits, herbs, and botanicals.

Haus homepage featuring promotion for 2 bottles of the low ABV rose aperitif

Haus also keeps a vibrant community alive via Instagram, where it posts recipes and serving suggestions to keep its audience engaged.

⭐ Get inspired: Why a Retail-First Approach Worked for this Booze-Free Brand

6 steps to start a small food business

Decide what kind of food product you will sell
Validate your product ideas
Develop a business plan
Start building your brand
Create your online store
Find and grow your audience

The food business thrives on cross promotion. Any product can be a jumping off point for a more involved brand, but it’s best to start with a singular goal in mind.

For example, your food truck could double as a catering business. You might sell baby food specifically for babies with certain dietary restrictions. Or, like The Snaffling Pig, you could sell a prepackaged snack alongside a complimentary beverage.

We’ve written a more extensive guide on how to start a food business that’s worth checking out if you want to know the ins and outs of the food industry.

For now, here’s a quick overview:

1. Decide what kind of food product you will sell

Coming up with your first product can be tricky. There are so many options in the food industry, and it’s never easy knowing which product opportunities are the best. But the first question to ask yourself is: Does the idea excite me?

If the answer is no, then scrap it. Your passion for your own food business fuels its growth. No matter how good an idea may be, it won’t thrive if it’s not something you’re interested in. Once you’ve decided on your idea, it’s time to evaluate it.

2. Validate your product ideas

There are a number of ways to validate product ideas , but it’s important in the initial stages to make sure that there’s a potential market for your product. You’re going to be investing a lot of time and effort into your business, and it’s important to know that it has potential.

Try meeting directly with potential customers, doing taste tests, exploring the community around your product, researching customer pain points and market demands⁠—anything to gain a deeper understanding of the potential for your idea.

3. Develop a business plan

Once you’ve validated your product idea, you’re ready to start crafting your business plan . A business plan is a written document that outlines your business’s products or services, how you’ll earn money, and your financing, staffing, logistics, and other vital details.

It may sound daunting, but a good business plan is crucial to starting yourself off on the right foot. If you’re looking for a breakdown of time-tested techniques used by successful business owners, make sure to check out our business plan template .

4. Start building your brand

Branding is crucial to any business, but it’s especially important in the highly competitive food industry. Your branding will be what sets you apart from your competitors, so it’s important to craft a consistent visual message that sparks the interest of potential customers.

Check out our guide on how to build a brand for an in-depth breakdown of how to find your target audience, learn about their needs and interests, and give your business a personality that resonates with them.

5. Create your online store

Once you’ve developed your brand, you’re ready to start building your online store . Add your products, create your collections, and customize your theme in a way that harmonizes all the visual elements of your brand.

6. Find and grow your audience

Once your store is set up, it’s time to start bringing in customers. There are a lot of ways to build an audience—such as organic social media content that engages your niche and paid ads that help widen the audience for your content.

You might consider working with social media influencers. Or maybe your business lends itself well to blog content that would be relevant to your audience. The best marketing strategies can differ based on your branding, audience, product, niche, and a host of other factors specific to your business.

Start a profitable, low-cost food business with Shopify

Food is a constantly evolving industry with a wide variety of products, a huge volume of customers, and endless options for scalability⁠—regardless of your level of experience. That makes it a great business opportunity.

Few things are more fulfilling than growing a business in an industry that excites you. For foodies and at-home chefs everywhere, starting a food business is a great chance to make money doing what you love.

Best food business ideas FAQ

Which food business is most profitable.

Any food business can have a high profit margin, but if you’re looking for a low-cost, low-risk food business idea with no overhead, check out our dropshipping guide. Dropshipping is a business model that allows entrepreneurs to start an online business and sell products while working with a third party that manufactures, stores, and ships your items directly to your customers.

What is the best food business to start?

There’s no best business for everyone, but on an individual level, it’s best to start a food business you’re passionate about—even if you might not have a high level of experience. New skills can be learned and experience will come with time, but a founder’s passion for their business is crucial to success. Pick the type of business that excites you the most.

What food can I sell to make money?

Any food can make money, but if you’re unsure if your idea has legs, it’s best to validate your product ideas by meeting directly with potential customers, addressing their pain points, and researching the audience around your product to see if there’s potential.

What’s the bestselling food?

Different foods sell for different reasons, but the bestselling ones usually either address a common pain point (such as Katz Gluten Free, in the above example) or appeal to customers by combining familiar favorites with an intriguing novelty (such as Sugar + Spoon’s cookie dough cones).

Keep up with the latest from Shopify

Get free ecommerce tips, inspiration, and resources delivered directly to your inbox.

By entering your email, you agree to receive marketing emails from Shopify.

Latest from Shopify

27 Aug 2024

26 Aug 2024

25 Aug 2024

23 Aug 2024

Learn on the go. Try Shopify for free, and explore all the tools you need to start, run, and grow your business.

Try Shopify for free, no credit card required.

Confectionery & Snacks - Nigeria

Revenue in the Confectionery & Snacks market amounts to US$7.15bn in 2024. The market is expected to grow annually by 7.00% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$135bn in 2024).
In relation to total population figures, per person revenues of US$31.19 are generated in 2024.
In the Confectionery & Snacks market, volume is expected to amount to 1.39bn kg by 2029. The Confectionery & Snacks market is expected to show a volume growth of 2.5% in 2025.
The average volume per person in the Confectionery & Snacks market is expected to amount to 5.3kg in 2024.

Key regions: Philippines , South Korea , Canada , Japan , China

Definition:

The Confectionery & Snacks market includes both confectionery and snacks subsegments. Confectionery is defined as foods with a relatively high sugar content, such as chocolate and chocolate products, sugar confectionery such as chewing gum, sweets, ice cream, preserved pastry goods and cakes. Snack Foods are typically eaten in between meals or as a quick bite.

The market consists of two different submarkets:

The Confectionery market covers foods with a relatively high sugar content. This market is divided into four subsegments: chocolate confectionery, ice cream, preserved pastry goods and cakes and sugar confectionery.
The Snack Food market covers sweet, savory, and salty snacks. This market is divided into three submarkets: cookies and crackers, potato chips, tortilla chips, flips, and pretzels.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

Chocolate and sugar confectionery
Cookies and crackers

out-of-scope

Chocolate/nut/nougat spreads
Peanut butter
Milk Substitutes
Yogurt Substitutes
Cheese Substitutes
Other Dairy Products & Eggs
Processed Meat
Meat Substitutes
Fresh Seafood
Processed Fish & Seafood
Fresh Fruits
Processed & Frozen Fruits
Fresh Vegetables
Processed & Frozen Vegetables
Breakfast Cereals
Other Cereal Products
Edible Oils
Other Oils & Fats
Tomato Ketchup
Other Sauces
Spices & Culinary Herbs
Ready-to-Eat Meals
Confectionery
Baby Milk & Infant Formula
Baby Cereals & Other Dried Baby Food
Prepared Baby Food
Baby Snacks & Others
Methodology

Data coverage:

Modeling approach:

Additional notes:

Sales Channels
Global Comparison
Key Market Indicators

Mon - Fri, 9am - 6pm (EST)

Mon - Fri, 9am - 5pm (SGT)

Mon - Fri, 10:00am - 6:00pm (JST)

Mon - Fri, 9:30am - 5pm (GMT)

Get immediate access to all Market Insights, reports & statistics
Download data in multiple formats for collaborative research
Includes usage & publication rights for sharing data externally

Start Your Business
Grow Your Business
Business Ideas
Business Plan Writing

How To Start A Lucrative Food Processing And Packaging Business In Nigeria and Africa: The Complete Guide

Food processing and packaging is a crucial aspect of the food industry in Nigeria and Africa, with the potential to boost economic growth, create jobs, and increase access to safe and nutritious food. The food industry in Africa has been growing rapidly in recent years, with the continent’s food and beverage market projected to reach USD 1 trillion by 2030, driven by population growth, rising incomes, and urbanization. In Nigeria, the food industry accounts for about 30% of the country’s manufacturing sector and employs over 4 million people.

Food processing and packaging involves transforming raw food materials into packaged, marketable products that can be stored and transported for sale to consumers. The sector includes activities such as milling, canning, freezing, drying, and packaging, and provides opportunities for both small and large businesses to thrive. With a population of over 200 million people, Nigeria has a large and growing market for processed and packaged food products, including snacks, beverages, and ready-to-eat meals.

In addition to the local market, food processing and packaging businesses in Nigeria and Africa can also take advantage of export opportunities to other regions of the world. Nigeria, for example, has been identified as a key player in the global food trade, with potential to export products such as cocoa, cashew nuts, and sesame seeds. However, there is a need for investment in infrastructure, technology, and quality control measures to enable the sector to meet international standards and tap into global markets.

See Also: How To Start A Lucrative Soybean Farming Business In Nigeria Or Africa: The Complete Guide

What Is The Food Processing And Packaging Business In Nigeria and Africa About?

Food processing and packaging business involves transforming raw agricultural products into marketable food products that are ready for distribution and consumption. The process includes cleaning, sorting, processing, packaging, and labeling food products. The aim of food processing and packaging is to ensure that the food products are safe, of high quality, and have an extended shelf life. This business is vital to the food industry in Nigeria and Africa as it creates job opportunities, boosts the economy, and increases access to safe and nutritious food.

The food processing and packaging industry also provides a platform for small and large businesses to thrive, contributing to the growth of the sector.

See Also: How To Start A Lucrative Plantain Chips Production Business In Nigeria Or Africa: The Complete Guide

Benefits of Food Processing And Packaging Business In Nigeria and Africa

Increased shelf life: Food processing and packaging helps to extend the shelf life of food products by preventing spoilage and contamination.
Preservation of nutritional value: Processing techniques such as freezing, canning, and drying help to preserve the nutritional value of food products.
Improved food safety: Processing and packaging methods such as pasteurization, sterilization, and aseptic packaging help to ensure the safety of food products.
Reduction of food waste: Food processing and packaging helps to reduce food waste by increasing the shelf life of products and making them less susceptible to spoilage.
Job creation: The food processing and packaging industry creates job opportunities for people in Nigeria and Africa, contributing to economic growth.
Increased income: Food processing and packaging businesses provide income opportunities for farmers and food producers, who can sell their products at higher prices.
Increased food availability: Food processing and packaging increases the availability of food products, making them more accessible to consumers.
Reduced post-harvest losses: Processing and packaging helps to reduce post-harvest losses by enabling farmers to store and transport their products to markets.
Diversification of food products: Processing and packaging allows for the creation of new food products and the diversification of existing ones, providing more choices for consumers.
Export opportunities: Food processing and packaging businesses in Nigeria and Africa can tap into export opportunities, contributing to foreign exchange earnings.
Value addition: Food processing and packaging adds value to raw agricultural products, creating a more profitable market for farmers and food producers.
Consumer convenience: Processed and packaged foods provide convenience to consumers, who can purchase ready-to-eat meals and snacks.
Standardization: Processing and packaging helps to standardize the quality and safety of food products, ensuring consistency in taste, texture, and appearance.
Technology transfer: Food processing and packaging businesses bring in new technologies, which can be transferred to other sectors of the economy.
Health benefits: Food processing and packaging can enhance the health benefits of food products by adding vitamins, minerals, and other nutrients.

See Also: How To Start A Lucrative Banana Farming Business In Nigeria Or Africa: The Complete Guide

Business Opportunities In The Food Processing And Packaging Business In Nigeria and Africa

Fruit and vegetable processing: Fresh fruits and vegetables can be processed and packaged into canned, frozen, or dried products for longer shelf life and greater convenience.
Snack foods: The demand for snack foods such as potato chips, popcorn, and nuts is increasing, presenting an opportunity for food processing and packaging businesses.
Meat and poultry processing: Meat and poultry can be processed into a variety of products such as sausages, canned meat, and deli meats, providing an opportunity for value addition.
Beverage production: The production of bottled water, soft drinks, and juices provides an opportunity for food processing and packaging businesses.
Bakery products: The demand for bakery products such as bread, cakes, and pastries is high, creating an opportunity for businesses that can offer convenient and high-quality products.
Dairy processing: Milk can be processed into a variety of products such as cheese, yogurt, and butter, providing an opportunity for value addition.
Spice production: The demand for spices such as ginger, garlic, and turmeric is high, presenting an opportunity for processing and packaging businesses.
Packaged foods: There is a growing demand for packaged foods such as ready-to-eat meals, soups, and sauces, presenting an opportunity for businesses that can offer convenient and high-quality products.
Nutraceuticals: The production of supplements, vitamins, and other health-related products presents an opportunity for businesses that can meet the demand for these products.
Organic and natural foods: The demand for organic and natural foods is increasing, providing an opportunity for businesses that can produce and package these products.
Halal and Kosher foods: The production of halal and kosher foods presents an opportunity for businesses that can meet the demand for these products.
Food packaging: The production of food packaging materials such as bottles, cans, and cartons provides an opportunity for businesses that can meet the demand for these products.
Food processing equipment: The production and sale of food processing equipment such as blenders, mixers, and ovens provides an opportunity for businesses that can meet the demand for these products.
Distribution and logistics: The distribution and logistics of food products presents an opportunity for businesses that can efficiently transport and deliver products to retailers and consumers.

Some other types of food processing and packaging businesses you can start in Nigeria, Africa, India, or anywhere around the world are:

Cashewnut processing
Meat packaging
Chocolate production
Tomato paste production
Condensed milk production
Coconut oil production
Custard powder production
Flour production
Natural fresh fruit juice production
Grape wine production
Groundnut oil production
Honey processing
Ice block manufacturing
Lemonade production
Noodles production
Palm oil production
Sachet and bottle water packaging
Plantain chips production
Potato chips production

And much more.

See Also: How To Start A Lucrative Quail Farming Business In Nigeria and Africa: The Complete Guide

Facts About The Food Processing And Packaging Business In Nigeria and Africa

The food processing and packaging industry is a rapidly growing sector in Nigeria and Africa, with a current value of over $1 trillion globally.
The Nigerian government has prioritized the development of the food processing and packaging industry as part of its economic diversification plan.
The food processing and packaging industry in Nigeria and Africa is highly fragmented, with many small and medium-sized enterprises operating in the sector.
The industry is characterized by a high degree of informality, with many businesses operating without proper licenses, regulatory compliance, or formal accounting practices.
The majority of food processing and packaging businesses in Nigeria and Africa are involved in the production of basic food products such as cassava flour, rice, and palm oil.
However, there is a growing demand for processed and packaged foods such as snacks, beverages, and ready-to-eat meals, which presents an opportunity for businesses that can meet this demand.
The food processing and packaging industry in Nigeria and Africa is facing several challenges, including inadequate infrastructure, high energy costs, and limited access to finance.
Despite these challenges, there are opportunities for businesses that can innovate and offer high-quality products that meet the needs of consumers.
The industry is supported by a network of suppliers, including raw material suppliers, packaging suppliers, and equipment manufacturers.
There is a growing trend towards sustainable and environmentally friendly packaging solutions, which presents an opportunity for businesses that can offer eco-friendly packaging alternatives.
The food processing and packaging industry in Nigeria and Africa is also being driven by advancements in technology, including automation, artificial intelligence, and robotics.
The industry is highly competitive, with businesses competing on price, quality, and innovation.
The industry is regulated by several government agencies, including the National Agency for Food and Drug Administration and Control (NAFDAC) in Nigeria.
The food processing and packaging industry in Nigeria and Africa is a major employer, providing jobs for millions of people.
The industry has a significant impact on the economy, contributing to GDP and foreign exchange earnings through exports.
Nigeria is the largest producer of cassava in the world, and there is a growing opportunity for businesses that can process cassava into high-value products such as flour, starch, and ethanol.
The Nigerian government has introduced several policies and initiatives aimed at promoting food processing and packaging, including the Agricultural Transformation Agenda and the National Industrial Revolution Plan.
The food processing and packaging industry in Nigeria and Africa is supported by a growing network of trade associations and business groups, including the Association of Food, Beverage and Tobacco Employers (AFBTE) in Nigeria.
There is a growing trend towards value addition and product differentiation, with businesses looking to offer unique and innovative products that stand out in the market.
The industry is increasingly focused on food safety and quality, with businesses investing in quality control and testing measures to ensure that their products meet regulatory requirements.
The food processing and packaging industry in Nigeria and Africa is a major consumer of energy, with businesses relying on electricity and fuel to power their operations.
There is a growing demand for locally sourced and produced food products, which presents an opportunity for businesses that can offer locally grown and processed foods.
The industry is heavily reliant on imports of raw materials and packaging materials, which can be a challenge for businesses operating in a volatile foreign exchange market.
The food processing and packaging industry in Nigeria and Africa is a major contributor to the informal economy, with many small and medium-sized enterprises operating outside of formal regulatory frameworks.
The industry is poised for continued growth in the coming years, driven by a growing population, rising incomes, and increasing demand for processed and packaged foods.

See Also: How To Start A Lucrative Spice Farming Business In Nigeria and Africa: The Complete Guide

− Export Business −

Make Your First $25,000 Exporting Products From Nigeria WITHOUT SPENDING YOUR OWN MONEY!

Our in-depth online export course is specifically designed to help you build a successful export business from scratch IN 90 DAYS WITHOUT LOSING MONEY FROM YOUR INVESTMENTS OR SPENDING YOUR OWN MONEY! And in the process, show you how to MAKE YOUR FIRST $25,000 from the export business within the first 3 months of finishing the course.

Click Here To Learn More >>

Types of food processing and packaging businesses in nigeria and africa.

Food processing and packaging is a broad field that involves various business activities. Here are some of the types of food processing and packaging businesses in Nigeria and Africa:

Fruit and vegetable processing: This type of food processing business involves the processing of fruits and vegetables into various products such as juices, jams, sauces, and canned fruits and vegetables.
Meat processing: This type of business involves the processing of meat into various products such as sausages, bacon, and beef jerky.
Fish processing: Fish processing involves the processing of fish into products such as canned fish, fish fillets, and fish oil.
Snack food production: This type of food processing business involves the production of snack foods such as chips, crackers, and popcorn.
Dairy processing: Dairy processing involves the processing of milk and milk products into various products such as cheese, butter, and yogurt.
Bakery and confectionery production: This type of food processing business involves the production of bakery and confectionery products such as bread, cakes, cookies, and chocolates.
Beverage production: Beverage production involves the production of beverages such as soft drinks, energy drinks, and bottled water.
Spices and seasonings production: This type of food processing business involves the production of spices and seasonings for use in cooking and food preparation.
Ready-to-eat meals production: This involves the production of meals that are pre-cooked and packaged for easy consumption.
Baby food production: This type of food processing business involves the production of baby food and formula.
Pet food production: Pet food production involves the production of food and treats for pets such as dogs and cats.
Nut processing: This type of food processing business involves the processing of nuts into various products such as nut butters, roasted nuts, and trail mix.
Grain processing: This involves the processing of grains such as wheat and rice into various products such as flour and pasta.
Tea and coffee production: This type of food processing business involves the production of tea and coffee products for consumption.
Organic and natural food production: This involves the production of food products that are organic or natural, without the use of artificial ingredients or preservatives.

See Also: How To Start A Lucrative Yam Farming Business In Nigeria Or Africa: The Complete Guide

Types Of Food Used For The Food Processing And Packaging Business In Nigeria and Africa

Food processing and packaging businesses in Nigeria and Africa deal with a wide range of food products. Below are some of the most popular types of food that are used for processing and packaging in the region:

Grains: Grains such as rice, maize, millet, and sorghum are popular food products in Nigeria and Africa. They are commonly used for making flour and other food products.
Fruits and Vegetables: Fresh fruits and vegetables are used for making juices, jams, pickles, and other processed food products.
Meat: Meat products such as beef, chicken, and fish are popular food products in Nigeria and Africa. They are used for making sausages, canned meat, and other processed food products.
Dairy: Dairy products such as milk, cheese, and yogurt are also used for making a variety of processed food products.
Spices: Spices are used for adding flavor and aroma to processed food products. Popular spices in Nigeria and Africa include ginger, garlic, chili pepper, and cinnamon.
Snacks: Snacks such as potato chips, popcorn, and biscuits are popular processed food products in Nigeria and Africa.
Beverages: Beverages such as tea, coffee, and soft drinks are also processed and packaged in Nigeria and Africa.

See Also: How To Start A Lucrative Beans Farming Business In Nigeria and Africa: The Complete Guide

How To Start Food Processing And Packaging Business In Nigeria and Africa: Step-By-Step Guide

Starting a food processing and packaging business in Nigeria and Africa requires careful planning and preparation. Below are the steps to follow:

Conduct Market Research: Research the demand for the type of food product you want to process and package. Identify the market size, competition, and potential customers.
Develop a Business Plan: Create a business plan that outlines your business goals, marketing strategy, financial projections, and operational plan.
Register Your Business: Register your food processing and packaging business with the Corporate Affairs Commission in Nigeria or the relevant authority in your country.
Obtain Necessary Permits: Obtain necessary permits and licenses from the National Agency for Food and Drug Administration and Control (NAFDAC) and other regulatory bodies.
Secure Funding: Determine the capital required to start your food processing and packaging business and secure funding from investors or financial institutions.
Choose a Location: Select a suitable location that is accessible to raw materials, transportation, and market.
Purchase Equipment: Purchase the necessary equipment for processing and packaging your food product.
Hire Skilled Personnel: Hire skilled personnel to work in your food processing and packaging business.
Source for Raw Materials: Source for high-quality raw materials from reputable suppliers.
Establish Quality Control Measures: Establish quality control measures to ensure that your food product meets industry standards and customer requirements.
Develop a Distribution Network: Develop a distribution network to deliver your product to customers.
Market Your Product: Develop an effective marketing strategy to promote your food product and build your brand.
Ensure Food Safety: Ensure food safety by adhering to strict hygiene and sanitation practices.
Conduct Regular Business Evaluation: Conduct regular evaluation of your food processing and packaging business to identify areas for improvement and growth.
Seek Export Opportunities: Identify export opportunities for your food product by participating in trade fairs and exhibitions and leveraging digital marketing channels.

See Also: How To Write The Perfect Business Plan In Nigeria and Africa That Will Get Funded: The Complete Guide

Types Of Equipment Used To Produce, Package & Supply Processed Food In Nigeria or Africa

To set up a food processing business, it is important to have the right equipment to ensure efficiency, consistency and quality of products. Below is a list of equipment used to process, package and supply processed food in Nigeria and Africa:

Cutting and peeling machines: These machines are used to remove the outer skin or peel of fruits and vegetables and to cut them into desired sizes and shapes.
Grinding and blending machines: These machines are used to grind ingredients like grains, spices and herbs into powder or paste.
Mixing and kneading machines: These machines are used to mix and knead dough for bread, biscuits and other baked goods.
Cooking and frying machines: These machines are used to cook or fry food products like rice, beans, and fried snacks.
Packaging machines: These machines are used to pack finished products into containers or pouches.
Sealing machines: These machines are used to seal the containers or pouches to prevent spoilage and contamination.
Labeling machines: These machines are used to label the products with important information such as ingredients, nutrition facts, and expiration date.
Storage equipment: This includes refrigerators, freezers and other storage equipment used to store raw materials and finished products.

It is important to note that the specific equipment needed for a food processing business will depend on the type of product being produced. It is also important to ensure that the equipment is of good quality and maintained properly to ensure consistent product quality and safety.

See Also: How To Start A Business In Nigeria and Africa: The Complete Guide

Target Market For The Food Processing & Packaging Business In Nigeria or Africa

The target market for food processing and packaging business in Nigeria and Africa is diverse and extensive, as the demand for processed and packaged food is on the rise due to urbanization, population growth, and changing lifestyles. Below are some of the potential target markets for a food processing and packaging business in Nigeria and Africa:

Retailers: Retailers, such as supermarkets, grocery stores, and convenience stores, are a crucial target market for a food processing and packaging business. These retailers often buy in bulk and require packaged food products to meet the demands of their customers.
Restaurants and hotels: Restaurants and hotels are another significant target market for a food processing and packaging business. These establishments require processed food ingredients and pre-packaged food products to meet the needs of their customers.
Catering companies: Catering companies also require processed food ingredients and pre-packaged food products to cater to their clients’ needs.
Export market: There is a growing demand for African food products in international markets. A food processing and packaging business that meets international standards can tap into this market.
Individuals: The growing middle-class population in Nigeria and Africa is also a potential target market for a food processing and packaging business. These individuals often prefer packaged food products due to their convenience and longer shelf life.
Government agencies: Government agencies such as school feeding programs, emergency relief programs, and military establishments require packaged food products for their operations

See Also: How To Start A Lucrative Import/Export Business In Nigeria and Africa: The Complete Guide

How To Sell or Market Processed Food Products In Nigeria or Africa

Here are 25 ways to sell or market food processing and packaging business products in Nigeria and Africa:

Attend trade fairs and exhibitions: These events provide a great opportunity to showcase your products and network with potential customers.
Use social media platforms: Utilize social media platforms like Facebook, Twitter, and Instagram to promote your products and engage with your customers.
Partner with influencers: Collaborating with influencers can help you reach a wider audience and increase brand awareness.
Create a website: Establish an online presence with a professional website that highlights your products and services.
Offer free samples: Offer free samples to potential customers, letting them experience the quality of your products.
Use email marketing: Send regular newsletters to your subscribers to keep them informed about new products and promotions.
Advertise on TV and radio: Advertise on popular TV and radio stations to reach a larger audience.
Participate in food events: Take part in food events and competitions to showcase your products and gain industry recognition.
Partner with local retailers: Partner with local retailers and supermarkets to get your products in front of more customers.
Offer discounts: Offer discounts to customers on special occasions like holidays, end-of-year sales, and product launches.
Use packaging to stand out: Use unique and attractive packaging to make your products stand out on the shelves.
Use testimonials: Share testimonials from satisfied customers to build credibility and trust in your brand.
Launch a loyalty program: Launch a loyalty program to reward repeat customers and encourage brand loyalty.
Invest in SEO: Optimize your website for search engines to increase your online visibility and drive traffic to your site.
Use paid advertising: Use paid advertising like Google Ads and social media ads to reach a wider audience.
Participate in community events: Participate in community events like food festivals and fairs to promote your products and engage with potential customers.
Offer bundle deals: Offer bundle deals on your products to encourage customers to buy more and increase sales.
Use product videos: Create product videos to showcase the quality and uses of your products.
Use influencer marketing: Collaborate with influencers in the food industry to promote your products to their followers.
Create a referral program: Launch a referral program that rewards customers for referring their friends and family to your business.
Use customer reviews: Highlight positive customer reviews and ratings on your website and social media channels.
Provide excellent customer service: Provide exceptional customer service to create loyal customers and positive word-of-mouth marketing.
Sponsor events: Sponsor food-related events to increase brand awareness and reach a wider audience.
Offer corporate gifts: Offer corporate gifts to businesses and clients to promote your products and services.
Use packaging inserts: Include promotional offers and product information in your packaging to encourage repeat purchases and referrals.

See Also: How To Start A Lucrative Coconut Oil Production Business In Nigeria Or Africa: The Complete Guide

Challenges Of The Food Processing And Packaging Business In Nigeria and Africa

High cost of equipment and machinery: The high cost of food processing and packaging equipment and machinery can be a challenge for entrepreneurs who want to start a business in this industry.
Lack of access to financing: Many entrepreneurs in Nigeria and Africa face challenges in accessing financing to start or expand their food processing and packaging businesses.
Poor infrastructure: Inadequate infrastructure such as roads, electricity, and water supply can make it difficult to transport raw materials and finished products, and to maintain quality and safety standards.
Inconsistent power supply: Power outages are common in many parts of Nigeria and Africa, which can disrupt production and lead to spoilage of perishable products.
High transportation costs: Transportation costs can be high, particularly in areas with poor infrastructure, which can impact the profitability of food processing and packaging businesses.
Limited access to modern technology: Many small-scale food processors and packagers in Nigeria and Africa lack access to modern technology, which can impact the quality and consistency of their products.
Lack of skilled labor: A shortage of skilled labor can make it difficult for food processing and packaging businesses to maintain quality and consistency, and to keep up with demand.
Inadequate storage facilities: Lack of adequate storage facilities can lead to spoilage and waste of perishable products, and can impact the profitability of food processing and packaging businesses.
Lack of government support: Many food processing and packaging businesses in Nigeria and Africa do not receive adequate support from the government in the form of policies, infrastructure development, and financing.
Limited market access: Limited access to markets, particularly international markets, can limit the growth potential of food processing and packaging businesses.
Competition from imported products: Imported food products can compete with locally produced products, particularly in terms of price.
Inadequate regulatory framework: Inadequate regulatory frameworks can lead to poor quality and safety standards, which can impact the reputation of food processing and packaging businesses.
Seasonal availability of raw materials: The seasonal availability of raw materials can impact the production and profitability of food processing and packaging businesses.
Dependence on a single product: Dependence on a single product can leave food processing and packaging businesses vulnerable to market fluctuations and changes in demand.
Environmental factors: Environmental factors such as climate change, natural disasters, and pests and diseases can impact the availability and quality of raw materials.
Lack of access to reliable information: Lack of access to reliable information can make it difficult for food processing and packaging businesses to make informed decisions about production, pricing, and marketing.
Inadequate quality control measures: Inadequate quality control measures can lead to inconsistent quality and safety standards, which can impact the reputation and profitability of food processing and packaging businesses.
Lack of access to appropriate packaging materials: Lack of access to appropriate packaging materials can impact the quality and safety of finished products, and can limit the growth potential of food processing and packaging businesses.
Limited technical knowledge: Limited technical knowledge can impact the quality and consistency of finished products, and can limit the growth potential of food processing and packaging businesses.
Dependence on imported equipment and materials: Dependence on imported equipment and materials can increase costs and lead to supply chain disruptions.
Inadequate access to markets: Inadequate access to markets, particularly in rural areas, can limit the growth potential of food processing and packaging businesses.
Inadequate access to credit: Inadequate access to credit can limit the growth potential of food processing and packaging businesses, particularly for small-scale entrepreneurs.
Limited government support for research and development: Limited government support for research and development can limit innovation and the introduction of new products and technologies.

See Also: How To Start A Lucrative Watermelon Farming Business In Nigeria And Africa: The Complete Guide

To Sum It Up

In conclusion, the food processing and packaging business is a promising sector for entrepreneurs and investors in Nigeria and Africa. With a growing population, increasing demand for processed food, and a favorable business environment, the opportunities in this industry are vast. The benefits of food processing and packaging business are diverse, ranging from job creation, income generation, and value addition to enhancing food security and reducing post-harvest losses.

However, to succeed in this industry, entrepreneurs and investors must be willing to invest in high-quality equipment, employ skilled personnel, and prioritize product quality, packaging, and marketing. Additionally, they must be aware of the challenges facing the industry, such as high production costs, inadequate infrastructure, and limited access to finance.

Despite these challenges, the food processing and packaging business in Nigeria and Africa has the potential to grow and contribute significantly to economic development. By taking advantage of the opportunities available and addressing the challenges facing the industry, entrepreneurs and investors can build successful and sustainable food processing and packaging businesses in Nigeria and Africa.

See Also: 50+ Lucrative Farming & Agricultural Business Ideas In Nigeria And Africa

Professional Business Plan Writing Service Writing a bank and investor ready professional FOOD PROCESSING AND PACKAGING business plan can be challenging. If you need a professional and affordable business plan service, STARTUPTIPSDAILY’S MBA STANDARD PROFESSIONAL BUSINESS PLAN WRITING SERVICE is perfect for your business. All you have to do is request an understanding of your proposed business model, and you’d have a professional MBA standard business plan ready for you in anywhere from 5 to 14 days. YOU CAN CLICK HERE TO GET STARTED WITH USING STARTUPTIPSDAILY’S PROFESSIONAL BUSINESS PLAN WRITING SERVICE TO CREATE THE PERFECT BUSINESS PLAN THAT’D GET ACCEPTED ANYWHERE.

What are your thoughts on how to start a Food Processing And Packaging Business in Nigeria, Africa, or any other part of the world? Let me know by leaving a comment below.

20 Comments

For information on Bell Apple Farming in Nigeria (since 2008), please search online for, “Bell Apple in Nigeria”. Thank you. 08123979645.

Always love coming to this site because you guys always tell me some thing that i don’t know. Am a big Fan

I am interested in d plantain chips and palm oil production. Will like some information about d two asap. Thx

What equipments will i need to start.

Very helpful….

Am interested in food processing business, do i need to register with NAFDAC immediately after registering with CAC before starting the business? pls can you throw more light?

Hi Nathaniel,

You need to register your products with NAFDAC after registering your business.

Please tell me more about your supply chain experience and expertise. I might have a something for you.

Mrs. Ola. [email protected]

Please send an email of your request to [email protected]

Do you give training on how to be a food processor most especially on production of food into dry form.

Not currently.

We will keep everyone informed when we do.

How can I get specifications as per Nafdac requirement and standards for production plan, I also need training on food processing, please where can I get this

I’d advise you visit the nearest NAFDAC office at your location so you can be up to date.

I love you explanations on food packaging and processing thanks a lot it’s really educative.

You’re welcome.

I love this post!! Do you train people on food processing??? I also want to know more about distribution agents

Thanks for reading Miracle.

And unfortunately, no, we don’t train physically for food processing.

However, we have a highly in-depth and highly comprehensive online export business course that will teach you everything you need to know on how to start, run, and grow a successful export business from scratch with zero experience.

You can access the course here >>> https://exportcourse.startuptipsdaily.com/

Thanks for the information, I what to start rice package and selling but don’t know how to go about it

Thank you for the comment, Ujunwa.

Please send an email to [email protected] and I’d be happy to advice.

Comments are closed.

How to Set Up a Profitable Frozen Food Business in Nigeria

Thinking of how to successfully set up a profitable frozen food business in Nigeria? This insight will help you make an informed decision. First, a frozen foods business involves selling prepackaged and preserved food items in Nigeria. It is the business of freezing, storing, and trading frozen food items. Technically, freezing up food items increases the value and shelf life of most perishable goods.

The frozen foods industry is a highly profitable venture in many parts of the world, especially Nigeria precisely. owing to population growth and increased demand for convenience foods. Because there aren’t many people in the business, it’s far from saturated. The frozen foods venture involves the sale of fish, turkey, prawns, chicken, gizzards, and certain vegetables for consumption.

The frozen food business has the potential to grow quickly. Because the target market is always available, the sophisticated stress-free elite, as well as recurring events like birthday parties, weddings, naming ceremonies, convocations and festivals, will keep the frozen food investor in the business. As a matter of fact, if you want to start your own frozen food business this article will walk you through the process step by steps guide to set up a profitable frozen food business

What are frozen foods?

Frozen foods are food items stored and preserved in cooling temperatures around -18 ℃ with the intent of commercializing them. The most common list of frozen foods in Nigeria includes fish, chicken, turkey, beef, prawns, meat (pork), etc. Frozen foods are known to be more convenient, safer to use, and more hygienic, in terms of freedom from bacteria and foods pathogens

FACTORS TO CONSIDER WHEN STARTING A PROFITABLE FROZEN FOOD BUSINESS

DEVELOP A GOOD BUSINESS PLAN

Every successful business starts with a business plan and your frozen foods business in Nigeria should have one as this is the first thing you should do as a business owner write a business plan first and stick to it the purpose of putting a strategy in place first is to avoid any form of failure in the near future this require conducting thorough research and then drafting a feasibility report on the business with a focus on the frozen food industry in Nigeria.

MAKE AVAILABLE YOUR CAPITAL FOR YOUR FROZEN FOOD BUSINESS

To start a frozen food business in Nigeria you will need a sufficient amount of capital aside from the capital you have at hand There are still several ways to generate funds for your business, including loans from the government, microfinance banks, grants,

GET A SUITABLE LOCATION

It is very vital when you set up your frozen foods company. It can be your property or a leased store but the place should be open and available. It is not necessary that it must be a market place, just a good store along with the market or on the road and you’re going to get many buyers. A hidden or secluded area is likely to not succeed in this business.

GET A COLDROOM PREFERABLY SOLAR POWERED COLD ROOM

A cold room is a specially designed room chamber or enclosure that is well insulated or lagged to prevent direct thermal flow out of the room in order to keep perishable frozen food items from spoiling.

A normal cold room typically uses electricity and a diesel generator, which is a very common cold room that many frozen food business people use. Those who use normal cold room make more profit before, but now that diesel prices have skyrocketed, it is affecting many frozen food businesses in Nigeria, which is why it is preferable to get a solar-powered cold room if you want to make more money. All this is what Dekoolar Nigeria put into consideration before coming up with a solution.

Dekoolar Nigeria Limited is the leading manufacturers and suppliers of solar-powered cold room in Nigeria. With their solar-powered cold room, you’re going to make more profit in your frozen foods business because you don’t need a diesel generator nor electricity to power it. All you need is the SUN because as the solar will be taping energy from the sun, it will be powering your cold room directly and still charging your backup battery.

ADVANTAGE OF SOLAR-POWERED COLD OVER REGULAR COLDROOM

It is easy to operate
It eliminate food loss
It is efficient
It eliminate electrical power and diesel expenses
It is Eco friendly i.e. it is environmentally friendly because it is noiseless.
It is easy to maintain
It is durable

Conclusively, the frozen foods business in Nigeria is a lucrative and profitable venture to start-up, up due to its vast market demand and on your ability to build a wide network. If you are looking for a lucrative business to venture into, the frozen foods business in Nigeria is a great option to explore and Dekoolar Nigeria Limited is there to take you from start to the finish process.

DeKoolar Blog Categories

Blast Freezers in Nigeria
Blogs
Cold room
DeKoolar News
HVAC- Refrigeration
Ice Block Making Machine

Recent Blog Posts

Mobile cold room explained by a nigerian manufacturer, expert perspective on understanding cold storage chain, why solar powered cold room is a smart choice, our product lines.

What our customers say!

De Koolar Ice Block Making Machine standouts, among other machines I previously used for my Ice Block Business – quality, operational efficiency and responsiveness to my support request… Mr C. Chuka, Zone D, Apo Legislative Quarters, Abuja

Mr C. Chuka, Zone D, Apo Legislative Quarters, Abuja

Recent Blog post

A Mobile Cold room is an insulated wheeled truck that maintains an internal, subzero temperature. A mobile cold room offers…

What is Cold Chain? A cold chain is a supply chain network that operates at a low temperature. An unbroken…

Why is Solar Powered Cold room a Smart Choice for Businesses Now? Today, an estimated one-third of all the food…

Quick Links

Display Chiller Fridge
Privacy Policy
Quality Management
Community Relations
Our Partners

1/3 Alade Close, Beside Addide Supermarket, Off Iju Road, Ifako-Ijaiye, Lagos State, Nigeria.

Phone: +234 814 639 7467 WhatsApp: +234 809 060 6137 Email: [email protected], [email protected]

Price/Quote Request - Kindly complete and submit this form:

Email Address *

[recaptcha]

WhatsApp us

RESTAURANT AND FAST FOOD BUSINESS PLAN IN NIGERIA

Mhi Choice restaurant, located in Ikoyi, Lagos state, Nigeria has been existing for six years. We are a franchise of a well-known international restaurant based in Switzerland whose name we have adopted. One would think that this is a highly competitive location to run a restaurant business but we have some competitive edge over many other similar businesses in the area. One of the most important of them is the variant local and international recipes that we have become known for. Thanks to our well experience chefs. We offer a mix of first-rate meals in clean and ambient environment, safe packing space and many other interesting packages that makes our customers feel very comfortable and relaxed.

Population is crucial to restaurant businesses anywhere in the world and that makes Lagos city a good advantage for us. Lagos is one of the most populous cities in the world at the moment with over 25 million people trooping out daily on busy schedule. There is therefore huge demand for restaurant services for different purposes and by diverse groups of people. Some of our customers are offices, schools, organization, local and international visitors and so on

Business Objectives

To be the first choice restaurant for locals and foreigners in Nigeria
To consistently offer quality meals at affordable price to our customers
To achieve increasing profit margin with a lowering average cost
To build stronger customer loyalty after each transaction

Mission Statement

We are poised to provide quality food in clean, secured and home feeling atmosphere.

Mindfulness: Our customers are top of our priority on our mind and we always treat them the way we would have loved to be treated.
Respect: we relate with our customers with courtesy and good manner appreciating them for patronizing us
Excellent Service : Our service is excellent and our customers not only come back, but market us to others.

MARKET ANALYSIS FOR RESTAURANT AND FAST FOOD BUSINESS PLAN IN NIGERIA

Restaurant market is large in Nigeria. According to the Association of Fast Food and Confectioners of Nigerian (AFFCON), it is estimated that the Nigerian food, restaurant and fast food market is more than a trillion Naira and expected to increase by 10% increase before year 2025. Restaurant market on its own is expected to increase by 25% percent and take up to 45% of the total market in the food industry. The economic impact of the business is also increasing day by day and constantly attracting investors..

Akinyemi Joy

Joy worked for Mhi Choice parent company in Switzerland for seven years before owning her own franchise in Nigeria. She holds Bachelor’s degree in International Tourism management at the Université Grenoble Alpes, France. Joy’s experience working at a tourist’s focus Restaurant in Europe has exposed her to wide range of recipe from different countries.

Ademola John – is a prolific Chef who himself published one of the most widely used recipe books in Africa. He has recently concluded his MBA from the University of Liverpool, UK. His career in the restaurant space began with Intercontinental hotel, Lagos after his First degree in Food and Nutrition at the Federal University of technology, FUTA. He is the Head of our Human Resource department.

Ogudu Amaka

She is the Head of Accounting department. She studied Management and Accounting at the University of Lagos she has been a fellow of the Institute of Chartered Accountant of Nigeria (ICAN).

FOR THE FULL DETAILS OF THIS BUSINESS PLAN, BUSINESS MODEL CANVAS, MARKETING PLAN AND FINANCIALS:

Please call our business plan consultants : + 2348147161686

Or order your restaurant and fast food business plan in nigeria.

http://www.apprenticeship.ng/product/restaurant-business-plan/

We have a team that can help you write your specific business plans, feasibility studies, Marketing plan, grant application, market research, business brand story and so on.

Contact : + 2348147161686 for details

Other Business Plans available:

Auto Repair Business plan in Nigeria and Africa

Block Industry Business plan in Nigeria and Africa

Sample Bread and Bakery Business Plan in Nigeria

Cassava Business plan in Nigeria and Africa

Catering Business plan in Nigeria and Africa

Catfish Business plan in Nigeria and Africa

Cattle rearing Business plan in Nigeria and Africa

Chinchin Business plan in Nigeria and Africa

Cocoa Business plan in Nigeria and Africa

Coca-cola and Soft drinks distribution Business plan in Nigeria and Africa

Cooking gas Business plan in Nigeria and Africa

Cosmetology Business plan in Nigeria and Africa

Crèche Business plan in Nigeria and Africa

Drycleaning Business plan in Nigeria and Africa

Event management Business plan in Nigeria and Africa

Fashion Business plan in Nigeria and Africa

Feedmill Business plan in Nigeria and Africa

Frozen food Business plan in Nigeria and Africa

Furniture Business plan in Nigeria and Africa

Ginger farming Business plan in Nigeria and Africa

Goat Business plan in Nigeria and Africa

Groceries Business plan in Nigeria and Africa

Groundnut oil Business plan in Nigeria and Africa

Herbal Business plan in Nigeria and Africa

Hide and skin Business plan in Nigeria and Africa

Honey bee Business plan in Nigeria and Africa

Honey production Business plan in Nigeria and Africa

Hotel Business plan in Nigeria and Africa

Ice block Business plan in Nigeria and Africa

ICT Business plan in Nigeria and Africa

Integrated Agriculture Business plan in Nigeria and Africa

Interior Deco Business plan in Nigeria and Africa

Laboratory Business plan in Nigeria and Africa

Leather tanning Business plan in Nigeria and Africa

Logistics Business plan in Nigeria and Africa

Maize farming Business plan in Nigeria and Africa

Medical equipment and supplies Business plan in Nigeria and Africa

Mobile Kitchen Business plan in Nigeria and Africa

Moringa Business plan in Nigeria and Africa

Mushroom Business plan in Nigeria and Africa

Music equipment Rentals Business plan in Nigeria and Africa

Nylon Production Business plan in Nigeria and Africa

Paint Production Business plan in Nigeria and Africa

Palm oil Business plan in Nigeria and Africa

Paper Recycling Business plan in Nigeria and Africa

Petrol station Business plan in Nigeria and Africa

Pharmacy Business plan in Nigeria and Africa

Pig Farming Business plan in Nigeria and Africa

PKO extraction Business plan in Nigeria and Africa

Plantain chips Business plan in Nigeria and Africa

Plastic bottle recycling Business plan in Nigeria and Africa

Popcorn Business plan in Nigeria and Africa

Poultry Business Plan in Nigeria

printing and multimedia Business plan in Nigeria and Africa

Quarry Business plan in Nigeria and Africa

Raw gold Business plan in Nigeria and Africa

Restaurant Business plan in Nigeria and Africa

Retail Business plan in Nigeria and Africa

Rice milling Business plan in Nigeria and Africa

School Business plan in Nigeria and Africa

Shear butter Business plan in Nigeria and Africa

Shoe making Business plan in Nigeria and Africa

Soap making Business plan in Nigeria and Africa

Tea and beverages Business plan in Nigeria and Africa

Tissue paper and serviette Business plan in Nigeria and Africa

Transportation Business plan in Nigeria and Africa

Travel and tour Business plan in Nigeria and Africa

Vegetable farming Business plan in Nigeria and Africa

Vocational Business plan in Nigeria and Africa

Water production business plan in Nigeria and Africa

Yam farming and sales Business plan in Nigeria and Africa

Yougut production and sales Business plan in Nigeria and Africa

Privacy Overview

News & Politics
Science & Health
Life Stories
The New Sober Boom
Getting Hooked on Quitting
Liberal Arts Cuts Are Dangerous
Is College Necessary?
Dying Parents Costing Millennials Dear
Gen Z Investing In Le Creuset
Bitcoin Gambling
Bitcoin Casinos
Bitcoin Sports Betting
SEC vs Celebrity Crypto Promoters
'Dark' Personalities Drawn to BTC

Food industry executives push back on Kamala Harris’ plan to fight “price gouging,” corporate greed

Harris promised to crack down on “excessive prices unrelated to the costs of doing business” by food suppliers, by joy saha.

Democratic presidential nominee Kamala Harris is planning to enact the first-ever federal law against corporate price gouging in the food and grocery industries, much to the frustration of some major corporations and food executives.

In a speech made last Friday, Harris promised to crack down on “excessive prices unrelated to the costs of doing business” by food suppliers and grocery stores, including those involved in big mergers and acquisitions. Harris noted that amid the rising cost of groceries — which have gone up by 25% between 2019 and 2023, faster than other consumer goods and services, according to the U.S. Department of Agriculture (USDA) — several food companies are raking in more profits. Foods like bread are now about 50% more expensive than before the COVID-19 pandemic, Harris said.

The current vice president specified that she is looking to target businesses that are illegally hiking up prices and not “playing by the rules.” Harris added that competition within the food industry is ultimately necessary to help bring down the high cost of food nationwide.

However, food companies begged to differ, arguing that price hikes are imperative due to high inflation which has caused the costs of labor and raw materials to increase greatly.

“We understand why there is this sticker shock and why it’s upsetting,” Andy Harig, vice president of Tax, Trade, Sustainability & Policy Development at the Food Industry Association (FMI), told the Wall Street Journal . “But to automatically just say there’s got to be something nefarious, I think to us that is oversimplified.”

In response to Harris’ plan, the National Grocers Association said, “The proposal calling for a ban on grocery price gouging is a solution in search of a problem,” adding that its members are also reeling from inflation in the same vein as consumers.

Harris’ focus on corporate price gouging comes a few months after President Joe Biden called out so-called “shrinkflation” — the phenomenon of items shrinking in size, quantity, or, even, quality while their prices remain the same — during his annual State of the Union address to Congress.

“Too many corporations raise prices to pad the profits, charging more and more for less and less,” the president said. Biden previously called out shrinkflation in anticipation of the Super Bowl and asked companies to “put a stop to this” in a game day commercial.

“Some companies are trying to pull a fast one by shrinking the products little by little and hoping you won't notice,” he said. “I'm calling on companies to put a stop to this.”

Despite his criticisms of high food prices, Biden failed to wield executive power to target food retailers and major corporations at the center of the issue, per the request of several progressives. Food prices have surged by more than 20% under the Biden-Harris administration, compelling Republicans to claim that “Bidenomics” has failed the American people.

Former president Donald Trump, at a rally in Pennsylvania, called out Harris’ recent proposal: “After causing catastrophic inflation, Comrade Kamala announced that she wants to institute socialist price controls.”

“Prices will come down,” Trump proclaimed to voters during a speech last week addressing his return to the White House. “You just watch: They’ll come down, and they’ll come down fast, not only with insurance, with everything.”

“Prices will come down and come down dramatically and come down fast,” he added, specifying that deflation — a term he refrained from using himself — would happen across the economy.

Such massive price drops would ultimately be more harmful than beneficial, many economists have decried. In conversation with CNN , Justin Wolfers, an economist at the University of Michigan, decribed Trump’s pledge as “unrealistic.”

Want more great food writing and recipes? Subscribe to Salon Food's newsletter , The Bite.

“The way to bring about deflation would be to create a massive recession. That would cause businesses to start cutting prices,” Wolfers said.

Economists have also criticized Harris’ plan, saying it could create more problems for consumers. Many even likened it to the wage and price controls imposed by Richard Nixon in the early 1970s.

“This is not sensible policy, and I think the biggest hope is that it ends up being a lot of rhetoric and no reality,” Jason Furman, a top economist in the Obama administration, told the New York Times . “There’s no upside here, and there is some downside.”

According to the United States Department of Agriculture , prices for all food are predicted to increase 2.2% in 2024. Food-at-home prices (defined as grocery store or supermarket food purchases) are expected to increase 1% while food-away-from-home prices (defined as restaurant purchases) are predicted to increase 4.3%.

In 2025, prices for all food are predicted to increase 2%, with food-at-home prices expected to increase 0.7% and food-away-from-home prices expected to increase 3%.

about Kamala Harris:

"The spark that ignites the flame": Black sororities flex "collective power" for Kamala Harris
The DNC did not unify Democrats. Donald Trump did that long before
The power of Kamala Harris' simple DNC message: Freedom is what normal Americans want

Joy Saha is a staff writer at Salon. She writes about food news and trends and their intersection with culture. She holds a BA in journalism from the University of Maryland, College Park.

Unraveling Tax Implications In Mergers And Acquisitions

Contributor.

As the saying goes, if you fail to plan, then you plan to fail.

A business desirous of embarking on a successful Merger & Acquisition (M & A) transaction, must amongst other things, take into account tax concerns that may affect the structure of the deal and its eventual success. By doing this, such business is able to minimize tax liabilities, avoid tax pitfalls, and comply with relevant tax regulatory authorities and laws, whilst milking to the fullest the financial benefits of a well-planned M&A transaction

On the flip side, where this is not done, such a company runs the risk of incurring unforeseen tax liabilities, missing out on tax benefits that accompanies mergers, selecting a tax-inefficient M&A structure that lowers net profitability, and failing to comply with relevant tax laws, which can result in fines, interest, and more scrutiny from tax authorities. In this article, we unravel tax implications you should consider when entering a Merger and Acquisition Transaction.

TAXATION IMPLICATIONS IN MERGERS AND ACQUISITION

According to the provisions of section 29 (12) of the Companies and Income Tax Act (CITA), prior to embarking on an M & A transaction, the merging businesses must first seek the consent of the FIRS and its direction. The section provides that:

" No merger, take-over, transfer or restructuring of the trade or business carried on by a company shall take place without having obtained the Service's direction under subsection 9 of this section and clearance with respect to any tax that may be due and payable under the Capital Gains Tax Act" .

To apply for the FIRS directions, the merging businesses are required to send copies of all pertinent transaction documents and when the M & A transaction meets the FIRS's satisfaction, the FIRS will issue a letter of "approval-in-principle."

APPLICATION OF THE COMMENCEMENT AND CESSATION RULE 1

UNRELATED PARTIES

When parties involved in M&A transactions are not related, the old (absorbed) and new (emerging/surviving) enterprises are considered distinct 2 . In such instances, the commencement and cessation regulations as provided in section 29 3 of the CITA (as amended by the Finance Act 2023) will apply to the surviving and ceasing company, respectively.

This means that the new and old company will be expected to file their returns in line with the commencement and cessation rules.

ALLOWANCES AND ABSORPTION OF LOSSES

Being a distinct new entity from the ceasing company, the emerging business is entitled to enjoy all the capital, investment, and initial allowances available to new businesses. However, the new company is not permitted to absorb any unutilized capital allowances or tax losses of the ceasing company.

RELATED PARTIES

Section 29 (9) of the CITA provides that:

Where a trade or business carried on by a company is sold or transferred to a Nigerian company for the purposes of better organisation of that trade or business or the transfer of its management to Nigeria and any asset employed in such trade or business is sold or transferred, if the Board is satisfied that one company has control over the other or that both are controlled by some other person or are members of a recognized group of companies, the Board may in its discretion direct that the the provisions of subsections (3) and (4) of this section ( section 29 ) shall not apply to such trade or business (Commencement and Cessation Rules).

This means that, where parties involved in M&A transactions are related, the old and new enterprises are not considered distinct and, the emerging and surviving company will not be subject to the commencement and cessation rules.

Rather the emerging business will continue to file its return as an ongoing concern and its annual returns will be determined on a preceding year basis.

This is the case even where a new company is incorporated to carry on any trade or business previously carried on in Nigeria by a foreign company 4 . If the FIRS is satisfied that the trade or business carried on by the re‐constituted company immediately after the incorporation of that company under the Act is not substantially different in nature from the trade or business previously carried on in Nigeria by the foreign company, then the commencement and cessation rule will not apply 5 .

ALLOWANCES AND ABSORPTION OF TAX LOSSES

For related entities, as the emerging company is not deemed to be distinct from the ceasing company, it shall not be entitled to any initial allowance with respect to acquired assets and other allowances deemed to have been received by the ceasing company 6 . However, it will still be entitled to other tax allowances available to businesses within its sector 7 .

The re-constituted company, as provided for in Section 29 (10) of the CITA, will also not be entitled to any initial allowances in respect of assets vested in it by the foreign company. Also, it shall be deemed to have received all allowances given to the foreign company with respect to those assets and any allowances deemed to have been received by the foreign company 8 .

By the provisions of Section 29 (10) (d) of the CITA, the amount of any loss incurred by the foreign company (who is the ceasing company) in the trade or business it previously conducted in Nigeria during any assessment year, as long as it has not been deducted from any of the company's assessable profits or income for that year under the applicable provisions of the Companies Income Tax Act 1961 or the Income Tax Act, will be considered a loss incurred by the reconstituted company in its trade or business during the assessment year in which its trade or business began.

OTHER TAX CONSIDERATIONS

In relation to M & A arrangements, section 32 of the Capital Gains Tax Act (CGTA) states that if the reorganization agreement is between related parties, Capital Gains Tax (CGT) will not be applicable to the sale or transfer of assets. However, for this to apply, the related parties must have been connected for at least 365 days prior to the date of reorganization 9 .

As it relates to VAT, when products and services are supplied that are not excluded from VAT under the VAT Act, section 42 of the Value Added Tax Act levies a 7.5% VAT.

On the 28 th of March 2024, the Central Bank of Nigeria released a circular to all commercial, merchant, and non-interest banks in Nigeria announcing an upward review of the Minimum Capital Requirement 10 . In a bid to meet this new minimum capital requirement and avoid the big hammer of the apex bank come March 2026, several financial institutions have started entering M&A transactions with one another 11 . For these financial institutions, one primary thing that must be considered in all proposed M & A contracts is the tax implication of such transaction on the merging businesses because combining entities that fail to consider this factor before entering an M & A contract, may soon find themselves in avoidable pitfalls that greatly undermine the success of their M & A deal.

1. Section 29 (3) and (4) of the CITA provides for the Commencement and Cessation taxation rules respectively

2. In this instance, the surviving company is seen as a totally new business formed by the merged businesses

3. Section 29 (3) and (4) of the CITA provides for the Commencement and Cessation taxation rules respectively

4. Section 29 (10) CITA

5. Section 29 (10) (a)CITA

6. Section 29 (9) (C) CITA

8. Section 29 (10) (c)CITA

9. Where the acquiring company decides to dispose of the assets acquired within the 365 days after the transaction date. This exemption will be revoked, and the companies will be treated as though they did not qualify for the exemption.

10. CBN's Review of Minimum Capital Requirements for Commercial, Merchant, and Non-interest Banks in Nigeria

11. A good example of this is the Providus & Unity Bank merger

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Corporate/Commercial Law

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Kroger, Albertsons defend merger plan in federal court against U.S. regulator objections

The federal trade commission sued to prevent the $24.6 billion deal, alleging it would eliminate competition and raise grocery prices. albertsons, owner of jewel-osco, said nixing a merger could mean layoffs..

Faye Guenther, president of local UFCW 3000, hugs Carol McMillian, bakery manager at Kroger-owned King Soopers and member of Local 7, after a news conference about the Kroger-Albertsons merger outside the federal courthouse on Aug. 26, 2024, in Portland, Ore. (AP Photo/Jenny Kane) ORG XMIT: ORJK101

Faye Guenther, president of local UFCW 3000 (yellow shirt), hugs Carol McMillian, bakery manager at Kroger-owned King Soopers and member of Local 7, after a news conference Monday about the Kroger and Albertsons merger outside the federal courthouse in Portland, Ore.

Jenny Kane/AP Photos

PORTLAND, Ore. — Supermarket chain Albertsons told a federal judge Monday that it might have to lay off workers, close stores and even exit some markets if its planned merger with Kroger isn’t allowed to proceed.

The two companies proposed what would be the largest supermarket merger in U.S. history in October 2022. But the Federal Trade Commission sued to prevent the $24.6 billion deal, alleging it would eliminate competition and raise grocery prices in a time of already high food price inflation .

In the three-week hearing that opened Monday, the FTC is seeking a preliminary injunction that would block the merger while its complaint goes before an in-house administrative law judge.

“This lawsuit is part of an effort aimed at helping Americans feed their families,” the FTC’s chief trial counsel, Susan Musser, said in her opening arguments Monday.

Musser said Kroger and Albertsons compete in 22 states, closely matching each other on price, quality, private label products and services like store pickup. Shoppers benefit from that competition, she said, and will lose those benefits if the merger is allowed to proceed.

Customers also are wary of the merger, the lawyer said. In Santa Fe, New Mexico, for example, 278 shoppers wrote to the FTC to express their concerns about a combined Kroger and Albertsons, which would own five of the city’s eight supermarkets.

But Kroger and Albertsons insist the FTC’s objections don’t take into account the rising competition in the grocery sector. Walmart’s grocery sales totaled $247 billion last year, compared to $63 billion in 2003, for example; Costco’s sales have grown more than 400% in the same period.

“Consumers are blurring the line of where they buy groceries,” Albertsons attorney Enu Mainigi said.

Mainigi said Albertsons’ customers now spend 88 cents of every dollar at competitors that range from Aldi and Trader Joe’s to Dollar General. Albertsons can’t compete with larger rivals that have national scale, but joining forces with Kroger would help it do that, she said.

Kroger attorney Matthew Wolf also defended the proposed merger.

“The savings that come from the merger are obvious and intuitive. Kroger may have the best price on Pepsi. Albertsons may have the best price on Coke. Put them together, they have the best price on both,” Wolf said.

The two sides also disagree on Kroger and Albertsons’ plan to sell 579 stores in places where their stores overlap. The buyer would be C&S Wholesale Grocers , a New Hampshire-based supplier to independent supermarkets that also owns the Grand Union and Piggly Wiggly store brands.

The FTC said C&S is ill-prepared to take on those stores. Laura Hall, the FTC’s senior trial counsel, cited internal documents that indicated C&S executives were skeptical about the quality of the stores they would get and may want the option to sell or close them.

But Wolf said C&S has the experience and infrastructure to run the divested stores and would be the eighth-largest supermarket company in the U.S., if the merger plan goes through.

The commission also alleges that workers’ wages and benefits would decline if Kroger and Albertsons no longer compete with each other.

Before the hearing, several members of the United Food and Commercial Workers International union gathered outside the federal courthouse in downtown Portland to speak against the proposed deal.

“Enough is enough,” said Carol McMillian, a bakery manager at a Kroger-owned grocery store in Colorado. “We can no longer stand by and allow corporate greed that puts profit before people. Our workers, our communities and our customers deserve better.”

The labor union also expressed concern that potential store closures could create so-called food and pharmacy “deserts” for consumers.

For people in many communities across the U.S., when a grocery store shutters, “their only source of food actually is walking to the nearest gas station,” said Kim Cordova, president of UFCW Local 7, which represents more than 23,000 members in Colorado and Wyoming.

Mainigi argued the deal could actually bolster union jobs, since many of Kroger’s and Albertsons’ competitors, like Walmart or Costco, have few unionized workers.

U.S. District Judge Adrienne Nelson is expected to hear from nearly 40 witnesses, including the chief executives of Kroger and Albertsons, before deciding whether to issue the preliminary injunction. If she does decide to temporarily block the merger, the FTC’s in-house hearings are scheduled to begin Oct. 1.

But Nelson’s decision will seal the merger’s fate, according to Wolf. He said the FTC’s in-house administrative process is so long and cumbersome that merger deals almost always fall apart before it’s through. Earlier this month, Kroger sued the FTC, alleging the agency’s internal proceedings were unconstitutional and saying it wants the merger’s merits decided in federal court.

The attorneys general of Arizona, California, the District of Columbia, Illinois, Maryland, Nevada, New Mexico, Oregon and Wyoming all joined the case on the FTC’s side. Washington and Colorado filed separate cases in state courts seeking to block the merger.

Kroger , based in Cincinnati, Ohio, operates 2,800 stores in 35 states, including the brands Ralphs , Smith’s and Harris Teeter. Albertsons , based in Boise, Idaho, operates 2,273 stores in 34 states, including the brands Safeway, Jewel-Osco and Shaw’s. Together, the companies employ about 710,000 people.

IMAGES

Snacks Production Business Plan In Nigeria
Snacks Production • Business Plan in Nigeria (DOC/PDF 2024)
Snacks Production Business Plan in Nigeria
8 Secret Guidelines To Start Snacks Business In Nigeria In 2024
Business Plan Template for Snacks Foods
Business Plan Template for Snacks Foods

COMMENTS

Snacks Production Business Plan in Nigeria
Snacks Production Business Plan in Nigeria A snack is a part of food, but usually smaller than serving size of a regular meal, that is eaten mostly between meals. Snacks come in different forms and sizes and can either be packaged or made from fresh home ingredients.
Snacks Business in Nigeria: Ideas, How to Start, Cost & Profitability
This post contains a comprehensive step-by-step guide on how to start a profitable snacks business in Nigeria, the best types to start, and how yo make money with it.
Top 12 Lucrative Snacks Business Ideas in Nigeria
The snack business is a profitable business in Nigeria because Nigerians like snacks a lot. Asides from eating snacks at parties (owanbe), many Nigerians eat snacks to fill their empty stomachs.
Business Plan: Snacks Industry in Nigeria
The business plan covers the snacks industry in Nigeria and provides a detailed roadmap to enter and thrive in the industry. Visit to learn more. The store will not work correctly in the case when cookies are disabled. We use cookies to make your experience better. ...
How To Start a Snacks Business in Nigeria [Most Profitable]
Ranging from busy business owners to employees to children going to school to organizations to events like birthdays, get-together parties, and many others who need it. Now that we understand how lucrative and high-yielding the business is. Below is a list of steps on how to start your own Snacks business in Nigeria.
Snack Production Business
Snack Production Business | Manufacturing Snacks Snack Production Business - In today's Nigeria, it will not be wrong to assume that every Nigerian has had a taste of snack, in fact to so many Nigerians, a snack can be placed in the category of food you take just to get buy, this is common mostly for travelers or say individuals who want to have a feel of food before the real meal arrives ...
How to Start a Snacks Business in Nigeria (Complete Guide)
Switch to the dark mode that's kinder on your eyes at night time. Switch to the light mode that's kinder on your eyes at day time.
Snacks (Pastry)
Snacks Business Plan / Proposal PART II 2.0 BACKGROUND 2.1 INTRODUCTION of Snacks Business Plan The proposed snacks production and marketing project is born out of the increasing need and demand for finger foods. Studies carried out in IHEAKPUOKA PLAZA (NSUKKA) suggests that market men and women, white
Snacks Production Business Plan In Nigeria
Snacks Production Business Plan In Nigeria Latest Edition feasibility studies proposal After payment text your name, your e-mail address and bank teller number or your transfer reference number to 08107015636 and A Copy of our Snacks Production Business In Nigeria FEASIBILITY STUDY PDF will be send to your email.
Unveilling the lucrative potential of Nigeria's thriving snack market
Nigeria's consumer landscape is undergoing a significant transformation - and the snacking sector is at the forefront of this change. Beyond its vibrant culture and breathtaking landscapes, Nigeria boasts a rapidly growing snack market fuelled by urbanisation, rising disposable incomes and evolving consumer preferences.
CHIN CHIN BUSINESS PLAN IN NIGERIA
Chin chin is one of the most loved snacks in Nigeria. Asides from the fact that the snack is tasty, the crunchiness and its long shelf life (without losing its quality or taste) make it stand out among other snacks which makes it an ideal snack business for us.
How to Write a Business Plan for a Food Business
Many businesses underestimate the importance of business plans, this is one of the major reasons why so many businesses fail. As the owner or prospective owner of an SME in Nigeria under the food sector, it is imperative to have a business plan. Let's show you how to write a simple business plan for your food business.
How To Start A Lucrative Plantain Chips Production Business In Nigeria
Plantain chips are a popular snack made from thinly sliced plantain that is deep-fried until crispy. It is a popular snack in Nigeria and many parts of Africa, enjoyed by people of all ages. Plantain chips production is a lucrative business venture in Nigeria and Africa, providing employment opportunities and boosting the economy.
How To Write A Business Plan In Nigeria (Free Samples And Templates
20 free business plan templates and samples for Nigerians to help you craft an amazing business proposal for your business ideas.
How To Start A Lucrative Biscuit Or Cookie Production Business In
Biscuit or cookie production business is a thriving industry in Nigeria and Africa, as biscuits and cookies are popular snacks consumed by people of all ages. According to a report by Research and Markets, the African biscuits market is expected to grow at a compound annual growth rate of 4.32% from 2020 to 2025. The increasing population, urbanization, and changing lifestyles have contributed ...
13 Food Business Ideas to Launch Today (2024)
Browse this list of food business ideas and learn how to develop a business plan for your food industry startup.
Sample Bread and Bakery Business Plan in Nigeria
This SAMPLE BREAD AND BAKERY BUSINESS PLAN IN NIGERIA is useful for apprentices in training, small and medium scale business owners, large scale businesses, accessing Bank Loans, Equity funding and Grants. This business plan can also be used in Proposal Writing, developing Business Concept Notes, understanding industry and market analysis and so on.
Confectionery & Snacks
The Confectionery & Snacks market in Nigeria is projected to grow by 7.00% (2024-2029) resulting in a market volume of US$10.03bn in 2029.
Food Business Ideas To Start Now In Nigeria
Are you ready to turn your passion for food and cooking into a money-making business? In this article, you will learn the different food business ideas you can start today and make money. The food industry offers huge business opportunities for entrepreneurs to sell and create unique food and drink items for people.
How To Start A Lucrative Food Processing And Packaging Business In
Develop a Business Plan: Create a business plan that outlines your business goals, marketing strategy, financial projections, and operational plan. Register Your Business: Register your food processing and packaging business with the Corporate Affairs Commission in Nigeria or the relevant authority in your country.
How to Set Up a Profitable Frozen Food Business in Nigeria
Thinking of how to successfully set up a profitable frozen food business in Nigeria? This insight will help you make an informed decision. First, a frozen foods business involves selling prepackaged and preserved food items in Nigeria.
PDF Free Restaurant Business Plan in Nigeria
The size of the food and beverage industry in Nigeria according to IMF is valued at 800 billion Naira with an estimated 40% growth expected in 2016 alone. Being the business capital of Nigeria and its second most populous state, Lagos state boasts of over 30 million residents and a food and beverage industry valued at 100 billion.
Restaurant and Fast Food Business Plan in Nigeria
We have a team that can help you write your specific business plans, feasibility studies, Marketing plan, grant application, market research, business brand story and so on. Contact: +2348147161686 for details. Other Business Plans available: Auto Repair Business plan in Nigeria and Africa.
Food industry executives push back on Kamala Harris' plan to fight
In 2025, prices for all food are predicted to increase 2%, with food-at-home prices expected to increase 0.7% and food-away-from-home prices expected to increase 3%. Read more about Kamala Harris:
Unraveling Tax Implications In Mergers And Acquisitions
Rather the emerging business will continue to file its return as an ongoing concern and its annual returns will be determined on a preceding year basis. This is the case even where a new company is incorporated to carry on any trade or business previously carried on in Nigeria by a foreign company 4.
Kroger and Albertsons defend merger plan in federal court against U.S
The FTC sued to prevent the $24.6 billion deal, alleging it would eliminate competition and raise grocery prices. The two firms operate 5,000 stores and employ about 710,000 workers. Consumers are ...