Crayfish business is one of the top overlooked and downgraded business in Nigeria and the reason is yet to be ascertained. Is it because of the smallish nature of this sea creature? Is it for the fact that it’s popular among old village market women who never saw the four walls of the university? Maybe that’s the reason.
In this article, I’m going to unleash the full hidden potential of this lucrative crayfish business and how you as an entrepreneur can create and sustain wealth through this business that may have to turn a blind eye to. Everybody eats crayfish, except few vegetarians and religious folks… These sea creatures are from the crustacean family.
A lot of people have been making money from crayfish business for ages and like every business out there, there are secrets. Yes, there are secrets in this profitable business and if you can discover them and utilize them, you’ll start making waves in the crayfish industry.
Apart from the sell of crayfish locally here in Nigeria, there are major businessmen and women who specialize in exporting either whole or grounded crayfish outside Nigeria and trust me, these folks are millionaires. Not only have they uplifted their financial life, they have contributed to the economy which is the best impact you’ll ever make in business.
BEST PLACE TO BUY CRAFISH IN NIGERIA
Many people have been contacting me, asking, “Henry, where can I buy good crayfish in Nigeria, I’m desperate in starting the crayfish business”
These are folks who have somehow managed to know the goldmine that lies in this business. As for the best place to buy, I always recommend Akwa Ibom and Cross River. Their crayfish is so good that their market is always flooded with people. Apart from the quality crayfish, Akwa Ibom had the best crayfish that sand free, reduced to the barest minimum and less dirt.
In case of shortage, you can go to Cameroon and buy as many bags of crayfish as you want. A lot of people from the South East, who are into this crayfish business always go there to buy. The best places to sought for your crayfish In Akwa Ibom are; Ibaka, Oron and Ibeno. Oron is actually the most popular and biggest market.
PROFIT POTENTIALS IN CRAYFISH BUSINESS IN NIGERIA
This is actually the part everyone is looking out for, to know the financial returns that this goldmine business promise. Without playing with words, let me make it known. You’re free to get your calculator close-by.
Imagine you buy about 5 bags of crayfish at the price of N30,000 and sell at the rate of N60,000. That’s over a whopping N30,000 naira gain. If you minus the transport fare and other miscellaneous expenses, like N15,000, you still have about N15,000 as gain from a single bag of crayfish. Multiply that by the number of bags, like 5 bags. N15,000 X 5 = N75,000. That’s crazy return my dear.
There are a lot of people who buy over 20 to 50 bags of crayfish at once and make thousands of gain in a month. The income is crazy for those who know the ins and outs of this business.
The price of crayfish isn’t always static, but no matter the price, your gain is always secured cause the price at which you sell will either increase or decrease judging from the market.
WHERE TO SELL YOUR CRAFISH
This isn’t rocket science at all. However, is has been a major factor why many have not started this business. Thanks to ignorance. Many people don’t want to start crayfish business because they don’t know where demand is coming from, or who the potential customers are.
Those who are in crayfish farming business will agree with me that the major customs are those in;
Road side food vendors
The Open market
Some folks, who are into the rearing of crayfish (crayfish farming) export outside of Nigeria and make money. Crayfish is also one of the major products been transported outside Nigeria.
HOW TO START CRAYFISH BUSINESS PROPERLY
1. CONDUCT A FEASIBILITY STUDY
The feasibility of this business is not hidden. It’s a business that’s feasible and able to make you rich. I have read a lot of testimonies from people who have made a fortune from this business alone. It’s a wonder! Their stories always inspire me to achieve greatness in life. No matter how degrading a business might look, it can ultimately transform your life.
Conducting a feasibility study on crayfish business entails knowing how much you need to start, where to buy, how to sell and to whom to sell. If you’re to export, you also find out the requirements for such.
2. BUSINESS PLAN
You can decide to write a crayfish business plan, or employ someone who’s more experience. Your business plan is like a blueprint to success and if you get it right, you’ll beam with smiles for a very long time.
3. BUSINESS SPACE
You’ll need a space for this business, a store, an office, a complex or warehouse. This will be the meeting point between you and the customers. If you’re selling directly to consumers, you’ll need to get a space close to a busy road with a lot of pedestrian traffic.
4. REGISTER YOUR BUSINESS
As you grow in this business, you should consider registering your crayfish business with the Corporate Affairs Commission (CAC). Doing this opens a whole new world of possibilities. Trust me.
HOW TO ADVERTISE YOUR CRAYFISH BUSINESS
For fast result, utilize the digital aspect of advertising like using television channels, radio FMs, Blogs, Forums Etc…
You can also buy an advert space on newspapers, magazine or print fliers and business cards. Do this well and you’ll gradually build an empire through crayfish business.
SUCCESS TIPS IN CRAYFISH BUSINESS IN NIGERIA
PROTECT YOUR SECRET
Every business has its secrets, please protect yours to avoid unnecessary competition or headaches.
Packaging is your advantage over other competitors. Package well.
Always strive to find out the current prices of crayfish here in Nigeria. This helps you to buy when it’s cheaper.
This is considered the holy grail. Make sure your crayfish are of high quality, neat and tasty. Buy in Oron if possible.
Growth is inevitable. Please, grow with the business. If it entails ploughing back profits, please do and grow. You’ll be glad you did. Don’t end up eating your profit, be calculative.