In this article, we'd be seeing a step by step guide on how to set up a successful stockfish (okporoko) business in Nigeria. Okporoko is very popular in many West Africa countries. It is used in the many soups to complement the grain staples fufu and garri. In the Eastern part of Nigeria, you'd often see it in the Igbo snack called 'Ugba na Okporoko'.
This is no doubt the reason behind the popularity of the Okporoko in Abia State, Nigeria. In Abia, the okporoko is quite popular and a regular ingredient in many local delicacies. You'll also find many Okporoko importers in Aba, the commercial centre of the state.
Umuahia people aren't left out as they to enjoy the okporoko, especially during festive periods. The Umuahia people's best staple is the Ukazi soup which must necessarily be very well garnished with okporoko.
NOTE: The name 'okporoko' came from the Igbo tribe of Nigeria and is used to refer to the sound the hard fish makes in the pot. It literally means 'that which produces sound in the pot'.
How lucrative is Okporoko business in Nigeria?
Venturing into stockfish business is one of the best things you can do if you know the basics. Depending on your capital, you can either start it on a retail or wholesale level.One of the first steps you need to take is to connect with trusted importers or dealers of stockfish in Nigeria. You can find major dealers of stockfish in Onitsha relief market, Sapele, Warri, Aba and other riverine market communities. Once you have your capital ready, you can contact these dealers to buy them cheap, discuss the pricing and then get your business running.
Getting customers won't be a hard task, especially in the parts of the country where stockfish is in high demand. As you advance, you'll start getting recurring customers who'd patronise you.
How much would it cost to start a stockfish business in Nigeria?
It depends on your scale, in this article, I assume you're setting up a retail stockfish business. You can get it running with a capital of ₦100,000 and grow as you make more profits. I recommend starting small, and then investing more when you're done selling the first stock. It'll help you understand the onions of the business and if possible, make some amendments in the way you run it.One of the issues you might encounter in the course of running the business is delaying in stocking your business. Also, if you don't site your business in a busy part of the market, you will have issues getting customers.
How to start stockfish business in Nigeria
Join me as we explore a step-by-step guide on how to start a lucrative stockfish business in Nigeria:• Get your capital
The very first step in starting a business, whether online or offline is getting your capital. Like I earlier stated, you'd be needing ₦100,000 or more to begin selling on a small or medium scale. You need to first research on the business before deciding on the amount you'd be needing to get it running. You'll need some money.There are different ways of raising capital for your business as a startup, you can collect loans, borrow from friends, make use of your personal savings or even partner with someone.
• Get a good shop
The location of your shop has a lot to contribute to your business growth. One of the best places to site your shop is an area where foods are being cooked. Also, I'd recommend getting a shop in a busy market, especially in open places.In all, always endeavour to keep your business in a busy area. It'll help promote your business even without much work.
• Get a trusted stockfish dealer
Now that you're done getting a shop, the next thing you should know (if you've not gotten one already) is a trusted stockfish dealer. Someone that will supply you with the type of okporoko to sell at affordable prices. You know? You need to get them at good prices, so when you add your profits, your customers won't complain of exuberant rates.If you're in Abia State, you can easily purchase from the dealers at Aba at wholesale rates. Onitsha Relief market also offers dealers who sell at affordable rates.
• How do you intend delivering goods to your customers?
This isn't compulsory, especially as a retail trader, but I have to include it here in case you (later) want to go into wholesale sales. When you have people buying your goods in big quantities, you might need to provide them with a method of delivery.Most big resellers are busy and might in some cases, prefer ordering the goods via call, especially when you've built a business relationship together. You can acquire a few vehicles for distributing the okporoko through your buyer network. Alternatively, you can make use of a tricycle (keke napep) redesigned for the purpose of carrying goods.
• Advertise your business
At this point, your business is running and you're ready to start receiving orders. Kindly note that this method, though ignored by many, is as important as the others. The major aim of every businessman is to generate sales, and that can only be possible through advertisements.How do you advertise your okporoko business? It depends on your locality. First of all, you need to site your business in a busy area. Other ways of advertising your business include; word of mouth, printing of stickers or posters, advertising on bulletins and more.
Types of stockfish found in Nigeria
There are various sizes and shapes of stockfish sold in Nigeria, including:
• Cut body Parts
• Cut-cut
• Head and Bone only
• Head and ears
• Okporoko fins
• Stockfish cod
• Stockfish head
• White bone
• Whole
• Ekene Ventures Ltd (Location: 149, Kirikiri Road, Olodi Apapa, Lagos)
• FoodHub Africa (Location: Online)
• Franceo Investment Limited (Location: 6, Enu-Owa Street, Idumota, Lagos State)
• Nolly Fysh Limited (Location: SF16, Eziukwu Market, Aba, Abia State)
• Stockfish Warehouse (Location: 50 Suez Crescent, Wuse, Zone 4, Abuja)
• Success Adventures Limited (Location: Nos. 1248, Azikiwe Road, Aba, Abia State)
There are many other places where you can buy dry stockfish cheap in Nigeria, you can ask other sellers around you.
• Cut-cut
• Head and Bone only
• Head and ears
• Okporoko fins
• Stockfish cod
• Stockfish head
• White bone
• Whole
Top stockfish importers in Nigeria
Check out the list of some big stockfish dealers and importers in Nigeria:• Ekene Ventures Ltd (Location: 149, Kirikiri Road, Olodi Apapa, Lagos)
• FoodHub Africa (Location: Online)
• Franceo Investment Limited (Location: 6, Enu-Owa Street, Idumota, Lagos State)
• Nolly Fysh Limited (Location: SF16, Eziukwu Market, Aba, Abia State)
• Stockfish Warehouse (Location: 50 Suez Crescent, Wuse, Zone 4, Abuja)
• Success Adventures Limited (Location: Nos. 1248, Azikiwe Road, Aba, Abia State)
There are many other places where you can buy dry stockfish cheap in Nigeria, you can ask other sellers around you.
Cost of stockfish in Nigeria
The price of stockfish varies from one location to the other, but I'd be talking based on the current price at Abia State. Check out some of the prices below:
• A bag of stockfish cut-cut can be bought for ₦80,000 to ₦90,000
• A bag of stockfish cut-cut can be bought for ₦80,000 to ₦90,000
• A bag of stockfish containing the heads and ears costs up to ₦70,000
• A bag of stockfish without ear (only heads) price is ₦40,000.
• A bag of stockfish without ear (only heads) price is ₦40,000.
Like I earlier said, stockfish prices vary from one market to the other. Also, with the rate at which prices of goods are going high, you will have to conduct a thorough market survey before buying the goods.
Is stockfish a contraband in Nigeria?
Actually, stockfish isn't contraband, but the importers have been instructed by the Federal Government to desist from bringing them in through the land border. The instruction was made to ensure that only quality fish products are brought into the country.With this, you should understand that the government isn't against the selling of stockfish, but rather importation of stockfish through land borders.
Conclusion
Stockfish business is very lucrative if done very well. Depending on your capital, you can start as a retailer, wholesaler or even an importer/dealer. One good thing about life is that there is always room for expansion.What did I miss? Kindly drop them as comments below. Before you leave, also check out our previous post on how to start small scale fish farming in Nigeria.
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