The Stockfish business in Nigeria like every other food business is very profitable with a huge demand rate. Have you ever wondered where to buy cheap Stockfish in Nigeria especially if you are just starting your Okporoko business in Nigeria? This is a complete guide on how to successfully start a Stockfish business in Nigeria.
Is the Stockfish Business Profitable in Nigeria?
Stockfish which is popularly referred to as Okporoko in Igbo is one of the native spices in making different types of soup and dishes. It is commonly used among Nigerians especially Igbo and Yoruba to cook as it gives a unique taste and smell to delicacies. Not only that, many prefer it to red meats because of its low-fat content. See how to start poultry farming in Nigeria
Now, if you take into consideration of the large population of Nigeria, you will realize how profitable it can be with the right strategy. Fortunately, you can start your Stockfish business with as low as N100,000 and grow from there.
How to Start Stockfish (Okporoko) Business in Nigeria
Like every other profitable business in Nigeria, the Stockfish business has its steps to ensure profitability. Find below the steps to successfully start Stockfish (Okporoko) business in Nigeria.
1. Research and Feasibility
For every business, there should be adequate research before starting. Taking your time to carry out a feasibility study will help you to understand the type of Stockfish that will sell in your environment, where your target customers are as well as the challenges you may face.
2. Gather Your Capital
To start a Stockfish business in Nigeria, you will require at least N100,000 to get started. This is because a bag of Stockfish cost at least N50,000 to N80,000 depending on the types you want to start with. For instance, a bag of Cut Stockfish is N80,000, an average bag of the head with ear Stockfish cost N50,000 while the one without ear cost N40,000.
Apart from purchasing the Stockfish, you may want to set aside some money for expenses like transportation fees and so on. That is why you must have at least N100,000 before getting started. See the list of Profitable businesses to invest in Africa
3. Buy from Trusted Suppliers
Buying at a cheaper cost from genuine suppliers can give you a lot of profit. That is why it is very important when starting a Stockfish business in Nigeria to search for large markets where Stockfish are sold at cheaper prices. Most markets in the Southern part of the country are known to sell cheaply, especially in the Onitsha relief market and Aba market.
Getting genuine suppliers who can sell cheaply in these two markets is easier because a lot of top dealers are there. You may want to price the Stockfish around before setting for 2 or more suppliers to compare their prices. Also, ensure you have more than a supplier to avoid delay and disappointment.
Furthermore, genuine and trusted suppliers should be able to identify the different types of Stockfish available in the market and advise you on the type of Stockfish you should buy in case of confusion. Meanwhile, if you have done your research well, buying quality Stockfish won’t be a problem. Find below the different types of Stockfish available in the market.
Types of Stockfish Available in the Market
- Whole Stockfish
- Stockfish Cod
- Cut Body Parts
- Stockfish Head
- Head and Ears only
- Head and Bone only
- The white bone of okporoko
- Okporoko Fins
A good location can determine whether a business will be successful or not. That is why you must ensure wherever you planned to sell your Stockfish must be good for your business. Whether it is a large market, a shop on a busy road, or the middle of a busy city, you must be able to attract the attention of your customer.
Hence, a large market or a shop in a busy City may be the perfect location for your Stockfish business. You may even want to combine the two locations if you have the funds. Therefore, you may want to find out the days of the markets in your area whether large or small.
5. Promotion and Advertising
Starting a successful Stockfish business in Nigeria doesn’t stop at buying Stockfish only. You need to sell your market massively to be able to make a lot of profit. Which you may not be able to make without proper advertising and promotion.
You may want to inform different people about your business especially family and friends to patronize you. With different flyers, displays of goods, and social media marketing, you will be able to attract your audience which can be converted to sales. In all you do in your Stockfish business in Nigeria, ensure you put your business our every day, it helps really.
Where to Buy Stockfish in Nigeria
Stockfish is very popular and cheap in the Southern part of Nigeria. So, you can get your quality Stockfish from this area at a cheaper price. Anambra state especially the Onitsha relief market and Aba market are the most popular market with many top dealers in Nigeria. Some other places include Sapele, Warri, and other Riverine area markets.
Top Stockfish Dealers in Nigeria
Many top stockfish dealers in Nigeria also sell cheaply, especially for those that don’t want to travel to the South to buy. Find below the list of top stockfish dealers in Lagos and other parts of Nigeria with their locations.
1. Ekene Ventures Ltd
Physical Address: 149, Kirikiri Road, Olodi Apapa, Lagos
2. Franceo Investment Limited Physical Address: 6, Enu-Owa Street, Idumota, Lagos State
3. Nolly Fysh Limited
Physical Address: SF16, Eziukwu Market, Aba, Abia State
4. Stockfish Warehouse
Physical Address: 50 Suez Crescent, Wuse, Zone 4, Abuja
5. Success Adventures Limited Physical Address: Nos. 1248, Azikiwe Road, Aba, Abia State
Final Thoughts on Stockfish business in Nigeria
The Stockfish business in Nigeria is very profitable but can lead to a loss when not done carefully. Like the Crayfish business, Stockfish should be placed in a dried environment and not damp places. Because this could alone spoil your Stockfish which can lead to loss.
There are some other challenges like a poor supply of Stockfish because of scarcities and so on. Of course, even with all these challenges, the Stockfish business in Nigeria is very profitable if you know your way well. That is why we recommend that you make a lot of research before starting your Stockfish business in Nigeria. We will you succeed in your business!