Looking for a profitable business to start with a bit of capital? Then consider the purchase and sale of eggs. The enterprise is very lucrative because of the strong demand for poultry eggs. You can be sure of generating an income on a daily or weekly basis, depending on what you want. More so, you can figure out how much you want as profit. Nothing is more pleasant than to be your boss.
Before you venture into selling eggs, you must have basic knowledge of how you can start an enterprise. For that reason, this article is here to feed you with every detail on how you can make money by buying and selling eggs. At the end of your stay with us, you should not have any problem launching this kind of enterprise.
Tips on How to Trade Eggs
Below are the steps for making money by purchasing and selling eggs. Follow the procedures accordingly and start your business with much ease.
- Get a Stating Capital
Initial capital is the first thing to consider when creating a company. If you don’t have capital, you can’t have a business. As mentioned earlier, it will not cost you a lot of capital to start supplying eggs. With a small amount, you can start.
To begin selling eggs on a small scale, you will not need anything less than ₦100,000. With this amount, you can buy over 100 crates of eggs and get other small tools you’ll need to stimulate your enterprise. But if you want more than 100 crates for a start, then you should be willing to pay more than this amount.
Wondering where you can obtain seed capital? Don’t worry, there’s good news for you. Some banks support individuals who want to start small-scale businesses with mortgages. But if you don’t like the idea of bank loans, then there are cooperatives and crowdfunding agencies that you might find suitable.
- Target a Farm and Sign up as a Customer.
As you venture into selling eggs, it is important to have one or two poultry farms that can supply you with eggs at all times. That way, you will never run out of supplies every time you are in need.
But before looking for poultry farms that can provide you with eggs, there are some factors that you must take into account. These factors include the distance between the farm and the market, the size, and the colors of the eggs.
- Secure a Vehicle
Selling eggs at a specific location is less profitable. As a result, you need to supply your eggs to prospective customers at their doorstep, stores, or market. However, to make such kinds of supplies, you will need to get your vehicle for safe and convenient transportation. Using public transportation can put your eggs in harm’s way. If you can’t afford a new car, then get a good tokunbo which is less expensive.
Alternatively, you can hire a vehicle and make supplies since you’re just starting. This is cutting down too many expenses. When the business expands, then you can think of acquiring a vehicle.
- Identify Potential Buyers
A business cannot succeed if there are no buyers. Therefore, identifying your target market is important if you want to make some money by selling eggs. Among these places where you can get potential clients are the market, hotels, supermarkets, grocery stores, baked noodle vendors, bakeries, and other populated environments.
Once you can track where and who distribute your eggs, then you’re ready to go. But ensure you make timely supplies.
But you know what? There are times when you don’t have to wait for customers to place an order; follow them to their respective stores. We have vendors who follow customers to their homes and make sales.
- Have a Storage Facility
Having a storage facility will greatly help protect your eggs from any sort of damage, yet most people who sell eggs disregard it. Come to think of it, where will you keep your eggs if you don’t sell them all at the appointed time? You will certainly incur losses. Whenever you remove your eggs from the farm, you must have a safe place to preserve them. Ensure the facility is not susceptible to water, flooding, or rodents.
- Get more work equipment
In addition to acquiring a vehicle and storage facility, there are other essential tools that you are expected to obtain to support your business. This equipment includes plastic or paper boxes, a personal scale, and a consulting store (optional).
Paper crates will be good to start with because they are relatively cheap, easy to manipulate, and recyclable. Plastic crates are tougher than paper and a bit pricey. But if you are financially capable you may go for plastic crates for their durability.
- Make Advertisement
Commercialization is one of the most significant aspects of a business. If you don’t create a high profile for your egg business, you will have a hard time reaching customers. As part of your marketing strategy, you can design a business card, flyers, face-to-face meetings, social media, media outlets, etc.
We have a few egg vendors who may go as far as “discounting” or “pay later” as part of their marketing strategy. However, that can be a risk, because some people can go without paying later. So don’t do that.
- Determine your Profit Rate
It is also essential to determine how much profit you can make from the sale of eggs, the less you venture into an unprofitable business. The average amount of profit you can make by selling a whole case of eggs is ¼ of the original case price. For example, if an egg case is sold to you for ₦1,000, you can earn nothing less than ₦250 per case.
However, you can earn beyond that, depending on how much you charge for each egg. To make more profit by selling eggs, you must buy as many cases as you can.
Buying and selling eggs are profitable businesses that earn you a good living, but most people are turning a blind eye. Those who have been in the business for a while may attest to its lucrative nature. If you wish to start one, you have all the information you need just above you. Follow them one step at a time and create a successful business.