By Waliu Adeyeri
“I was introduced to the business by a friend, when I found out that it’s okay, I ventured into it. I started with about N5,000 only.”
Are you looking for a reliable business or source of income that pays more than the minimum wage or what most organizations pay graduates? Then you should consider groundnut business.
This is because groundnut is not just one of the delicious and nutritious food snacks enjoyed by most Nigerians, its is also lucrative as a business and source of income.
You can actually make more than N60,000 per month selling groundnut at the retail level. That is why more Nigerians including graduates of tertiary institutions are increasingly attracted to selling groundnuts.
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These include Rachael Iwuoha, a resident of Ikorodu, Lagos who studied Mass Communications at Ibadan Polytechnic and completed the National Diploma in 2005. She has been selling roasted groundnut for about 10 years. In this interview with TheNewsBeam, the mother of 3, revealed why she ventured into selling groundnut. She also shared insights about the trade.
What led you into groundnut business?
For sometime, when I couldn’t get a job, I ventured into trading, I started selling Moin moin. I quitted the business when I got a teaching job.
When I got the job, I found out that the money I was earning was not enough to support my family. Though I have a husband, but I needed to support him due to the fact that the bills are many.
I settled for this business because it’s daily income, and I don’t like waiting till the end of the month before I can attend to my bills.
How did you start this business and how much did it cost you to begin?
I was introduced to the business by a friend, when I found out that it’s okay, I ventured into it. I started with about N5,000 only.
There’s a woman that fries the groundnut and supplies to me, she supplies a bottle then at the rate of N300 while I sell at the rate of N400 per bottle.
How profitable is this business?
it’s something that moves everyday, though the gains might not be much but it’s returnable. I can fend for my family daily instead of waiting on a monthly salary that will not be enough to cater for myself and family.
Sometimes, we sell about 20 bottles daily, and each bottle cost N600. That amounts to N12,000.
What are the challenges you faced or have been facing in this business?
It’s the packaging, I don’t use empty bottles picked by the roadside, I buy the bottles and as you can see that each of the bottle is sealed. The price of the bottles have gone high from N10 per one to N20.
Another challenge I face is that during the rainy season, we find it difficult to sun-dry the groundnut. As a result, we spend more time to roast the groundnuts very well to make them dry. Else, they won’t give you that great taste.
Do you have any plans to upgrade your business?
I have plans to rebrand my product, though, it is likely to affect my sales by the roadside, because rebranding will affect the cost of production and lead to higher price.
Many people see roadside selling as less valuable, do you think that has in anyway affected your trade?
Groundnuts sold in supermarket often loose quality due to the fact that they stay long on the shelf as a result of high cost. While those who sell by the roadside sell their goods in less than two to three days.
Groundnut business is manageable, it doesn’t cost much to begin the trade and it is everyone’s food.
Health Benefits of Groundnut
Groundnut is a classless food snack in Nigeria. This probably could be as a result of its affordability in the country and its known health benefits to some people. Here is a list of the health benefits of groundnut.
- Groundnuts/peanuts are highly enrich in fats, they are used to make peanut oil.
- Groundnuts also are enrich in vitamins and minerals
- It’s also a good dietary for diabetes patients for its enrichment in carbs
- Peanuts are also high source of protein.