Crayfish are from the crustacean family. They contain a lot of protein and are a major ingredient used in preparing both local and continental dishes. When you consider how nutritious crayfish is, then you’ll begin to see the demand for this product.

Have you been looking for a business that you can start with very little capital? The crayfish selling business is one that you can invest in with very small capital. Wondering how much you need to start this business? We will discuss this and more in this post.

Cost of Starting the Crayfish Selling Business in Nigeria

The crayfish selling business is one of the most flexible businesses to start in Nigeria. It is difficult to put a cap on exactly how much you need to begin this business. The amount that you need depends on the level at which you want to operate the business. One of the advantages of this business is that you can begin with very small capital and grow your capacity.

That being said, how much do you need to start the crayfish business? Basically, all you need is to purchase your crayfish. Here’s how much you can purchase crayfish in Nigeria today:

• Paint bucket of crayfish: N3,500 – N5,500
• Quarter bag of crayfish: N20,000 – N30,000
• Half bag of crayfish: N35,000 – N45,000
• A full bag of crayfish: N55,000 – N85,000

The prices of crayfish are quite volatile as they are affected by several factors. Some of these factors include vendors, the season of the year, transportation, government policies, etc. Once we notice a price change, we will update this post so that you can have the current prices.

How to Start the Crayfish Selling Business in Nigeria

Nigerians love to eat crayfish so if you are considering starting this business, it’s not a bad idea. Before you dive in, there are few things that you must do to prepare yourself. We will show you some of them in this section.

Detailed feasibility study

Before you begin any business, especially one that involves the selling of perishables, you must carry out feasibility studies. By feasibility studies, we mean research of the market to find out how things work. You need to know who your customers are and what they need. Also, you must find who your competitors are and how they operate.

Your feasibility study gives you an idea of how much you need to start the business. It also opens your eyes to what you need to do to steal the attention of your prospective customers. There are several ways to carry out a detailed feasibility study. From asking potential customers questions to studying the business models of your competitors and checking the internet.

Raise capital

After carrying out a feasibility study, the next step is to raise capital. Your study will give you an idea of the capital requirement of your crayfish business. We suggest that after getting the cost, you write a business plan. A business plan helps you attract investors and raise funds for your business.

There are several ways to raise funds for your business. You can raise funds from your savings or family members and friends. Another way to raise funds is to seek a loan from the bank However, we suggest that you stick to the first two methods if you are operating this business on a small scale.

Find a location

An important question that you must answer before starting this business is, “where do you want to run the business from?” If you are running this business on a small scale, we suggest that you can begin from your home. Taking this step helps to save costs at the start-up stage. You can grow from your home to renting a shop.

If you prefer to rent a shop when starting, then there are a few factors that you must consider. Some of these factors include:

• Proximity to the market.
• Accessibility for customers.
• Human traffic.
• Security

The location that you choose plays an important role in how successful the business becomes. You must also consider the cost of the shop before you pick one. A costly shop will affect your profits in the long run.

Find reliable suppliers

Your suppliers determine how long your business will stay afloat. You must find reliable suppliers. We suggest that you get more than one supplier to avoid disappointments.

A reliable supplier provides you with high-quality crayfish at affordable prices when you need it. Such suppliers should also provide you with credit facilities when the need arises.

Advertise your business

Don’t make the mistake that your crayfish business doesn’t need publicity. There is no business that doesn’t require advertisement. Publicizing your business sets you apart from the competition. If you don’t advertise your business, how will your prospective customers know about it?

There are several ways to advertise your crayfish business. From traditional methods like flyers and banners to technologically inclined methods like social media and Google Ads. Go all the way with your publicity as it always comes with amazing rewards.

Figure out your distribution methods

How do you plan to distribute or sell your crayfish? For some people, they prefer to sell the traditional way via a market stall. Other people prefer to add some sophistication by running delivery services. Your feasibility study will show you what your customers prefer. Adopt this method to make the best of your business.

Challenges of the Crayfish Selling Business in Nigeria

There is no business that exists with challenges and the crayfish selling business is no different. The major challenge of this business is that crayfish diminishes in size with time. As such, you must sell your products as quickly as you can.

Another challenge of this business is that the product develops mold after a while. To avoid this, you need to rid the crayfish of its moisture content as much as possible. Finally, when buying your crayfish, ensure that it is not packed along with dirt. If your products are dirty, you are likely to lose customers.