Amount Needed To Start a Cashew Nut Business in Nigeria & How to Start

Advertisements

The amount needed for the cashew nut business in Nigeria is mainly the amount for buying the cashew nuts and the transporting fee of the nuts.

Cashew Nut business involves the business and selling of the raw or processed Cashew Nuts to generate profit.

Starting the business is quite simple and it requires little capital. In this article, the required amount needed to start a cashew business in Nigeria has been intensively and carefully analyzed by our business experts.

How Much is Needed to Start Cashew Nut Business in Nigeria?

When we talk of the amount needed to start a cashew nuts business, we are referring to the amount needed to start cashew nuts buying and selling business.

Advertisements

But you can also check the cost of starting a Cashew Nut farm in Nigeria and how to start it in 2021 here.

The amount needed to start a cashew nuts business in Nigeria are categorized and explain as follows;

1. Buying Cost: the buying cost includes the amount of money needed to buy the cashew nuts from the manufacturers (farmers), or from suppliers.

2. Transportation Cost: the transport cost includes all expenses involves in the transporting of the nuts from where you buy them to the final destination that you sell them.

3. Tax Cost: in some cases, a tax levy may be imposed on your nuts in the course of transporting them from one place to another or during the selling process.

4. Labour cost: if you will employ Workers to assist you in the business, then that will cost extra expenses of paying them salaries.

How much is needed to start cashew nuts business? Approximately, you will need up to Five Hundred Thousand Naira N500,000 or above for a start, depending on the scale of business you are looking at.

See Also: Current cashew Nut price in Nigeria per Ton/Kg

Cashew Nut Business Plan: How to Start Cashew Business 2021

Starting a cashew nuts supply and buying a business is very easy. All you need to do or start with is to get the needed cash.

Advertisements

Below is the best cashew nuts business plan and the steps on how to start a cashew nuts business are;

  1. Get a Source: a source here refers to a farmer that produces or owns a cashew nuts farm or the main supplier that has direct access to cashew farmers.
  2. Get Buyers: if your aim in this business is to buy and resell, then you will need to hook up with good buyers.
  3. Know The Market: this is the most important part of this business. You will need to get proper orientation on how the market works and how you can maximize your profit.
  4. Do proper registration: you may need to pay to register fully for the business or to join some Unions that are specified for Cashew dealers.

How to Start Your own Cashew Business? Stages involved

If you are asking important questions like “How do I start my own cashew business?” then the following are the best stages in starting a Cashew Business.

1. Manufacturer: the manufacturer in the cashew business is the frontman. The manufacturer is also known as the farmer. They produce and sell the nuts directly to suppliers.

2. Suppliers: Suppliers are the set of dealers that focus mainly on supplying the nuts to large-scale buyers. The supplier may be the farmer or someone that gets the nuts from the farmers and make them reachable to the buyers.

3. Wholesalers: wholesalers are those that buy the cashew nuts directly from the farmers or the suppliers at a higher scale for exporting or reselling purposes.

4. Retailers: retailers buy the cashew nuts at a low scale and resell them to big suppliers or wholesalers to make their own interest/profit.

Where To Buy Cashew Nuts in Nigeria?

If you are new in the cashew business, then the best place to buy cashew Nuts is directly from the cashew farmers.

But to make it easier, new dealers can connect with other cashew nuts suppliers online and negotiate for the supply.

Some of the top websites to meet with cashew nuts suppliers include; alibaba.com, Jiji.ng, jumia.com.ng, or any other site not listed here.

Note: we advise do advise online buyers to be very careful with the online dealers and suppliers to avoid being scammed.

Cashew Nuts Dealers in Nigeria

There are so many cashew nuts dealers in Nigeria whose focus is on buying and selling raw and processed cashew nuts in a large scale.

Unfortunately, we don’t recommend dealers that we don’t actually know much about since we are not working with them but we actually check out dealers on the internet.

To start with, kindly visit google.com and type “cashew nuts dealers in Nigeria” and click on the search icon to view the list of the top cashew nut dealers in Nigeria in 2021.

Many of the dealers have also attached their contact numbers for easy access. You can get their numbers and talk to them directly via phone call or WhatsApp chat.

The amount needed for the cashew nut business in Nigeria is mainly the amount for buying the cashew nuts and the transporting fee of the nuts.

Leave a Reply

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