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Business Ideas

How to State a Crude Oil Business in Nigeria

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How to State a Crude Oil Business in Nigeria

Best Way to Start a Crude Oil Trading Business in Nigeria

This is a business which is very profitable, it is form of business in which a lot of persons are making millions while others are earning billions from a monthly to a yearly basis but there are regulations but after explaining some facts to you, you will also figure a way out to tap your own and join the league of successful people.

Related: How to Start a Crèche Business in Nigeria

When you hear discussions about crude oil, the mind is focused on PMS (fuel) and AGO commonly known as diesel

If you have no capital, to begin with, and you want to be among the millionaires in this business, I  will reveal to you the strategies to use because this business is here to stay as long as more cars are being produced, as far as the regular unstable power supply continues and the continuous production by industries, petrol or diesel will always be needed and you can make your millions.

There are other products from crude oil and one of it is bitumen which is used for road construction

How to Make Profitable from Crude Business

1) Crude Oil Extraction:

2) Renting of Equipment:

3)Oil Refinery/Petroleum Processing

4)Petrol Hauling and Organization

5)Setting up a Gas Station

6)Kerosene Household Peddling

7)Consultancy services

8)Running a Media Program (Tv or Radio)

9)Internet News Blog

10)Oil and Gas Investment

10 Best ways to make gains from Crude oil Business:

1) Crude Oil Extraction: You can carry out extraction of crude oil in partnership with the government and this is dependent on if you have the necessary equipment and facilities then you’ll get compensated by the government. To get to this level of partnership with the government, you need a license and to be accredited, you a huge capital and a knowledgeable technical team because without a license of operations, you risk being jailed.

See: How To Start Cement Distribution Business In Nigeria

2) Renting Of Equipment: You can provide petroleum equipment and place them on the lease. You can set up your renting outlets and rent your equipment to companies and make lots of profits from them.

3) Oil Refinery/Petroleum Processing: You can make millions if you have the capacity to set up a refinery company in which petroleum companies bring in their extracted crude oil for processing in your company. Although as stated earlier, there’s a need to register and get licensed. One more important thing is the payment of tax to the government and the failure to comply may lead to a shut down of your business. You can begin with 50 million nairas and partner with people who have more money so the logistics aspect can be taken care of.

4) Petrol Hauling and Organization: This deals with the transfer of fuel, gas, and (or) lubricant from one gas station to the other. This is one of the most profitable business at the moment in Nigeria and it is commonly known as gas hawking where you get petroleum or diesel from the refinery and supplying the product to substations to make your money.

There’s no expiration date for petrol and can be stored for a long time even when there’s high demand for it when scarce, you can decide to sell at your own price but still at an affordable price for everyone.

5) Set up a Gas Station: One other way you can make good money from this business is by operating your personal gas station. Filling gas for cars and other vehicles and provide kerosene which can be used for cooking for individuals who cannot afford a gas cooker.

6) Kerosene Household Peddling:  There are households who sell kerosene using automated pumps from their big tanks. The sell kerosene with this pump to prevent waste and for accurate measurement. You can buy this product in wholesale and sell at an affordable price or price similar to the gas station to the individuals in your area.

7) Consultancy services: If you have the proper training in this business and have the full understanding of the operations in the business, this could through the university or certain certified professional courses with adequate practical experience, you can set up a personal consultancy service where individuals can inquire about directives regarding the business. These individuals will offer you money for the knowledge they’ll gain from you.

Related Post: How to Come Up with a Business Idea: 5 Proven Steps

8) Running a Media Program(Tv or Radio): With an outstanding practice and experience, you can create educational programs in this field on television, teaching people the operations in the oil industry and business, conducting interviews and carrying out live reviews, giving answers to complaint and questions. On this program, you can share ideas with the listeners and mostly young entrepreneurs especially those that would love to build up a career through the oil and gas industry. With a program, it could attract top oil and gas companies for who would love to shave their paid advert on your program, bringing more money to you and getting more oil and gas information to your active listeners.

9) Internet News Blog: If you’re really connected to latest happening in the petroleum industry you can start blogging about it with latest news, vacancies, and you may sell out quality guides on how to go about the business and may start advertising things on your blog especially if it’s very popular. Brother, sister this is another way to earn from oil and gas business, so if you have the connections to get your pc and get ready to blog for money. Turn your ideas to wealth today.

10)  Investment in Oil and Gas: There is no need to afraid of investing in your money in other oil and gas companies. Stay alert to credible oil companies and buy their shares so you can become a stakeholder and they begin to grow and make profits, you also get your percentage

Most Read: How to Get a Job in Federal Mortgage Bank of Nigeria (FMBN)

I believe this few point has stirred up your mind to take a chance in the oil and gas sector, invest and make money. The oil business is very lucrative and business can be done anywhere in the world as long as roads are still being built and vehicles are mobile.

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Business Ideas

How to Start a Creche and daycare Service in Nigeria

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Daycare or creche is a school where young children such babies and toddlers and so on who basically cannot take care of themselves without adult supervision are kept during work hours while their parents are busy with the day’s work.

This is a kind of classroom setting where these young children can also play, learn, rest and properly taken care of by their handlers. Keeping them busy till the end of the day where their parents will pick them up.

The Opportunity

The demand for creche and daycare centers is high on demand especially in the urban areas in Nigeria. Quite a lot of mothers have full-time jobs with no chance of handling their child as they work as the child could be a distraction. Therefore they seek daycare centers to keep their children till they close from work. With the increase in birth rate in Nigeria, create opportunities for creche and daycare centers in the community. Most primary schools right now provide the nursery arm for their schools so the parent can keep their child for the time they’ll be at work.

Who is the business for?

This business is for individuals who love children and are great at taking care of them regardless of their attitude. However, the challenging part is, you are always going to need to keep the children safe and away from harm’s way. If you have basic experience in taking care of children may be while you were teaching in a nursery school and any form at all, you can open a daycare center

Related link: How to State a Crude Oil Business in Nigeria

Marketing

This business is very easy to start, you can begin from the comfort of your home as your directly approach working-class mothers in your environment, church or any gathering at all, telling them the type of service you render.

If you intend to rent a space, make sure the location is strategic and smoothly accessible by your target clients. After that you can print handbills with colorful design and start sharing with existing clients, telling them to also tell their colleagues at work. As you do that and also offer great service by taking proper care of their children, you will keep getting more customers.

Needed Items

To start up your daycare services, you’ll need the following:

An Apartment

Small Chairs

Small tables

Toys

TV set

VCD player

Bookshelf

Kiddies books and stationery

How much profit can I get from the Creche Business in Nigeria?

Every other business depends on some relative factors but in this service, you charge the parents per child. For example, if you have 20 enrollment, and you charge 5,000 Naira per child, that’s a total of 100,000 Naira in your first month.

Breakdown of earning for the first year  (Estimation)

50 enrollments X N100,000 = N5 million

Running expenses (rent, salary, electricity etc). You can get profit before tax of over 1 million Naira with an investment Return of over 40%

You can continuously run this business for years without any need of visiting the bank for a loan.

8 STEPS TO START A DAYCARE BUSINESS IN NIGERIA

  1. Study about the operations needed for a Daycare business

There’s a need to have an in-depth knowledge of how to run a daycare business. This is beyond having a passion for children. You can have a passion for children and may not have the technical knowledge of responding to children in certain situations. To get this knowledge, you need to study and from materials which are available online and you can also have a discussion with other daycare owners for tips which has been helpful to them.

  1. Have a business plan

If you desire to start a daycare business, you need to map out a strategic plan to guarantee the long-term success of your daycare business. It may look insignificant but writing the business plan will really increase your chances of the business being successful.

See also: How to Start a Crèche Business in Nigeria

Not only does the business plan keep you organized, but it will also help you stay focused on achieving the set goals and launch your business into a successful one.

  1. Find a location with childcare safety in mind

The next phase is to find a good location. One very important factor that is key to a successful business is to find the right location. For example, any one of wants to sell clothing for winter certainly won’t consider West African countries as a location unless they risk going out of business.

For a winter clothing line, you can open up in countries like Canada, Russia, etc. Therefore if you want to open your daycare business, it is important you choose the right location for good business.

Furthermore, your location should be equipped with the required safety equipment such as fire extinguisher, smoke detector, first aid kit and so on. This will show professionalism and attention towards safeguarding lives and properties.

  1. Select a good name for your daycare business

When you have selected a good location which is hazard free in a safe environment, the next stage is to select a good name for your business.

When selecting a name for your daycare business, you must select a name that is short but creative and child-friendly.

  1. Get a business insurance

Adequate insurance protection is another important requirement when setting up your daycare business. If you’re starting off from your house, you will need theft and fire insurance.

You must also secure yourself legally in case any unforeseen accident occurs such as the death of a child or something tragic.

  1. Equip your daycare center

Provide the necessary items which can make children happy as they play with them such as games, blocks, puzzles, arts and crafts, DVD players, TV, toys and so on. This will make sure the children have fun and feel relax without any worry or without missing their parents while they are at work.

  1. Hire employees for your Daycare Center

You can’t run a proper Daycare center without having experienced and dedicated staff to assist in maintaining the business. Although it’s great to promote your business and invest in marketing without a good team to help maintain the order of things in the business, it could be dead before it already started.

Most Read: 7 Keys to Start Freelance Writing Business in Nigeria

Therefore seek for experienced and hardworking individuals who also have a passion for taking care of young children. You may also need to interview each applicants to identify the individuals that fits the requirements.

  1. Advertise and promote your daycare center

Tell the world about your business, use the internet, use social media, tell your friends and you might be lucky to get noticed and start having clients. If clients are satisfied with the operations of your business, you might also start getting referrals from them and your business begins to expand in popularity, clients and more funds

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Business Ideas

How to Start a Crèche Business in Nigeria

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10 Requirement for Opening a Creche in Nigeria

Creche business means the daycare services or pre-nursery center where special attention is given to children from age one to six. Crèche homes are the best place for moms who are extremely busy and have little time to handle their child because of work and some other activities that may not include children.

These centers are the alternative to hiring a housemaid despite the realities and myths which arises from issues due to housemaids. However, both have a risk and the pre-nursery center are mostly common especially in the urban area where there is high demand from work and moms cannot handle the pressure of the kid and the work at the same time. Therefore, they seek for handlers especially in the crèche centers to take care of the child till they arrive from work which is mostly by the end of the day.

See: How To Start Crayfish Business In Nigeria

With this, there is an open market for minders for potential customers in the urban area where setting up a creche center would be a lucrative business. Fortunately, this business is very easy and to be successful in this business, an individual need some possess some characteristics which includes being nice, selflessness, flexibility and so on. Although the job is highly demanding and needsa person who pays great attention to the smallest detail, watchful and vigilant.

Requirements For Smooth Running of A Creche Business

1. Get Proper Training

Although there are some specially gifted people who have a passion for childcare and naturally make children feel safe and have no thought of missing their mom notwithstanding, a certification course in child service and parenting can you an advantage above others.

See Also: How Profitable is Cooking Gas Business in Nigeria

Getting professionally trained exposes you to certain knowledge which can only be gotten through learning and this learning can be done formally and informally or through online courses. The important thing is to get certified by a professional body or an institution.

2. Hire Good Staffing

The operations in this business cannot be done by one man and surely needs more hands to assist in the operation of the business. For the business to be effective in its dealings, you will need to employ the services of qualified and passionate staff to assist in the smooth operation of the business.

It could be from people you know or familiar with or through personal recommendation because the demand for the job is so high to be handling the whole operations. Each worker will be given specific duties to carry out and you supervise, monitor and coordinate them as they watch over the kids.

3. Installation of Facilities/Equipment

There need to be the provision of appropriate lighting, sports facilities, toys and other fun utilities at the center in which children can play and enjoy themselves.

You must provide a lot of items which they can play with in order to satisfy their urge andenthusiasm. Arrange the playing facilities based on age, class. Make sure that objects around the play area are not endangering the lives of the children and such objects includes sharp knives, blades, etc. which should be kept far away from the reach of children.

Related Post: How To Start Petroleum Products Selling Business In Nigeria

Hire a trained electricianto install the lighting and also to fix the equipment for playing. This is important in order to prevent the risks of slip, fall, damage, and injury. Remember, when you take better care of the children, your clients recommend you for their friends, leading to potential clients and more money.

4. Pay Attention to Feeding

Children need to eat well in for strength, vitality, and growth, they need to be fed with an adequate diet.Provide them the proper snacks and rationalize the feeding time. Meals fed must be highly nutritious spicy. Kids fancy colors. Colorful snacks would inarguably serve as a useful item during the learning.

Furthermore, this method kids can equally learn about the basic colors while eating. Snacks with alphabetical lettering can be fed to the kids and through them, they can learn the letters of the alphabet.

5. Get Good Security system

Constant security is a must at the crèche business center.It is easier to manage the population of children when small but as it gets bigger there is a need for the presence of security personnel at the center.

Put everything inplaceagainst child trafficking, theft, harm, and injury.

6. Do a Proper Market Survey

Doing a proper market survey is necessary for every business. Its importance in creche business cannot, therefore, be overemphasized.Avoid rush and plan for the future. Market survey will help you with information onsuch things as special children needs, parents/guardians needs, materials and methods, siting, power supply, and market availability.

7. The Place of Advertisement

For people to know about you, you need to create awareness about what you do and unless a business advertises tothe public, it may never be seen. The best way to achieve this is, by developing an effective, advertising and marketing strategy. You could use the means of posters, radio jingles talk shows, online adverts, flyers and/orbillboard. Properly carry out the survey and use the most creative and effective marketing strategy and promotion tool available to create a staggering engagement towards your business which is not beyond your budget.

8. Do the Effective Feasibility Study

Carry out proper research and do your findings, as it was discussed above, it will enable you tobe sure of the basic requirement for the business startup, challenges, and possible solutions.

9. Have Enough Capital

This business is capital intensive and you need money to buy equipment and provide necessary facilities, leasing and renting of space and recruiting of staffs. There is a need to register your business name and place adverts using the business name in order to create awareness. This aspect, is usually well-documented when drafting the business plan.

10 Choose Your Desired Business Location/Siting

A proper creche business tags along with a proper venue or business location which comes with basic government regulations and laws guiding the sitting and running of crèches centers. However, a befitting creche location must be neat, conducive and calm. choosing your creche close to business areas and offices gives an advantage as it would be very easy for the parents to easily check on their children and wards and pick them up after closing from work.

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Business Ideas

How To Start Crayfish Business In Nigeria

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Crayfish is similar to fish, but it is not the same size as the water crabs and you can earn a huge income from the crayfish business. This business is quite profitable and not difficult to commence operation most especially when you have the knowledge and training about the dealings required in the business.

See: How to Get Loans in Nigeria With or Without Collateral

You will be exposed to the requirement and operations of running a successful crayfish business in Nigeria. However, it is important to note that

It takes about 400 to 900 new offspring of crayfish are produce at a time.

It takes about 90 days for crayfish to mature

Crayfish are usually harvested between the month of November and February of the year.

The Market Projection And Prospects For Crayfish Business

One thing that comes to mind about this crayfish is usually about where will I sell my crayfish since there are people already in this business, how do I get my customers to make my sales. It is advisable to locate a market and carry out a survey in order to see the marketing strategy that will work best for you. Here are some market recommendations in order to make your sales and make your crayfish business and they include:

Restaurant

Roadside food vendors

Dormitories

The Open market

Fast food.

Hotels

Offices/Establishments

Online (Internet)

Furthermore, you can select strategic locations with the prospects of this business and adequately provide the community with your product but at the same time keep the price reasonable and affordable for a class. When you purchase in large quantities straight from the producer, it will less expensive compared to when you purchase from the retail outlets where there will be additional prices. Retail most times double or triple their price than the usual cost, therefore buying and selling in bulk is very important.

Pitfalls To Avoid In Crayfish Farming Business

Just like all other business, the crayfish business also has its challenges. Challenges are inevitable in business and having the right knowledge about how to avoid is very important. Here are some suggestions:

Avoid Bad Debts and Sales on Credit

Avoid selling your product on credit. If this must happen, ensure that the customer you are offering it to is a working-class person in order for you not to be at loss. Although it is best that you sell and return to the depot for more supplies of crayfish and when the supplierss realizes that you have become more consistent in buying from them, the supplier can readjust to cheaper prices compared to other customers.

See also: How to Establish a Cocoa Business in Nigeria and Anywhere Else

Don’t leak your business secret to Your Competitors/customers

Your business secrets must be kept and should not be a leak to your competitors and also your customers. This is done to avoid losing customers because they may stop buying your product with the thought of purchasing them at cost prices also. They’d rather buy from the source where it is cheaper

Don’t use Diabolical Powers

As long as you for the principles and ethics of the business, it is always going to be successful in the long run. Although, there is a popular practice in crayfish business which deals with a diabolical means in order to create wealth. However, diabolical means don’t keep the business forever.

Requirements For Smooth Running of A Crayfish Business

Registration

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Proper research

Space

Market surveying

Get Office Space

Starting out on a commercial level, you would need to rent a space in an area which is easily accessible and customers and potential dealers can locate you. It would also serve as your storage room where you can store all bags of crayfish especially when you decide on selling for wholesale. It is important to get a spacious office space for easy storage and accessibility.

If starting on a low capital, the need for a storage room may not be necessary. You can sell and expand later, depending on how the sales are improving.

Conduct research

Without research, no lucrative business can succeed. There is a need to ask some vital questions before venturing into the business. This will give you a head start and knowledge about what to do in the operation of the business. The research covers questions that have to deal with the operation, what necessary changes that will be needed, chances of success and failure. Likely unpleasant conditions that may be facing in this line of business and a possible way to succeed.

This research will help a serious businessman reach a level of capital and therefore make necessary budgetary preparations before jump starting.

Do A Market Survey

Carry out a market survey in aspects where you would get people’s opinion about the business, the demands, the likes and dislikes, everything you need to know about customers service relationship. This can help you know the right time and moment to kick start your business and when you should pause. It gives you the whole overview of the operations of the business and this will give you an edge over others.

Register Your Business

Business registration is very important to every business success and for a brand or business, it creates a unique and identity recognized by your customers. Registering your business can also make your business traceable and one way to make your business be on top compared to your competitors is to register your business with a unique name.

Afterwards, you can place strategies posters and banners or handbills directly to your potential customers in your business environment.

Furthermore, you can belong to a union and in that union, you stay updated about the latest trends in the business.

Advertise Your Crayfish Business

When you promote your business, you increase your chance of making more sales and improve awareness. This can improve your business towards expansion and at this level, you will need storage space and more income starts rolling in. If your business lacks proper exposure to the market, it may gradually lead to a business non-existent.

Most Read: How to Come Up with a Business Idea: 5 Proven Steps

Create more strategies for advertising and promotion in order to increase products engagement. You can advertise on prints, online, social media, email marketing, sending a bulk message and so on. All these are too create awareness and establish a presence in order to drive traffic to your product and make more sales. You can reach thousands and millions of buyers over a period of time if the audience reaching out to are targeted properly.

Note:States like Akwa Ibom state, Cross River,Rivers, and other Niger Delta states offer crayfish product at very affordable prices and you’re you buy from these places, you can sell and make a huge profit.

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