[GUIDE] Starting A Successful Palm Oil Business In Boki, Nigeria

Pospi Otuson | Business Coach

Ever thought about starting Palm oil Business in Boki local government area of Cross River State? It's a great idea. 

This brief guide will put you through the common steps involved in starting this business and becoming successful doing it. 

I have met so many business men in Boki who have been in Palm oil resseling business and guess what, most of them were able to make 1,500,000 million naira in six months doing this palm oil business.

SEE ALSO: Starting Palm Oil Business in Boki, A Million Dollar Idea 

I have had a series of conversations with most of them. From the onset, I knew that this was going to be a huge business opportunity that you can engage in and establish yourself without any hassle at all.

I’m going to make this as short as possible, not in the mood to bore you with so many details. The purpose of this  mail is to fish out all the important points you need to know in other to be successful in palm oil business. For a detailed business plan on this, you can connect me on whatsapp 08099087688.

I've sourced for a lot of palm oil business secrets and I don’t think you have an excuse while you can’t start this business. If you can start this business now, you’ll certainly write to Boki blog in less than a year to give a testimony 😀.

SEE ALSO: Cocoa Dominating over Banana In Boki LGA 

HOW TO START A PALM OIL BUSINESS IN Boki, Nigeria

You may want to know the cost of starting this business right?

Anyone can start this Palm Oil Business. It’s not like one of these businesses that requires millions to start. With at least, N50,000 and above, you’ll be able to start this business and make enormous amount of money. For example, a jerrycan of oil between February - April is N6000 – N7000 in Boki, Cross River State. With N50,000, you can purchase about 10 Jerrycan of it or even more.

Talking about other places to buy Palm oil at a very cheap rate!

Although I'll always advice prospective entrepreneurs to buy from Boki local government in Cross River State. But, alternatively you can buy from a rural community called Osakan, in Obubura LGA, Cross River. Buying from them is very cheap and will make sure you realise 5 times your initial investment. But I'll advice your Business should be based in Boki, even though you're buying from other places.

SEE ALSO: How To Start Cassava Farming In Boki And Make Millions 

This is one major secret about this business. The time of purchase matters a lot if you must make money. It’s advisable you buy them in Boki or Obubra during February, March or April. That’s when palm oil is surplus and very cheap. When you buy them, store them in a warehouse or your house as the case may be. There’s also a right time to sell.

Someone asked me how profitable is this business?

According to my conversation with someone doing this business "When I started, I was able to buy a gallon at the price of N5000. That was during April and I had to store them in a warehouse. In this business, timing is everything if you must make money. Around August, September or October, a gallon of oil will be sold at over N12,000; even more. Imagine if you had started with about 10 gallons, you’ll be making not less than N100,000.

SEE ALSO: 11 Amazing Delicacies Only Boki Women Can Prepare Better 

Best places to sell?

There are main markets in Boki Local Government Area, Cross River. This is a place where many people from Akwaibom, Benue, etc come to buy oil. With main market in Wula, Okundi, Bateriko, Kakwagom, Bashua selling off your product is guaranteed. Most people are usually scared of starting a business, simply because they don’t want to be stuck with the product. Between March - August, oil is scarce because people are hoarding it in other to make a better profit during the month of October. One good thing with this business is, buyers are always present and ready to buy.

Let me conclude with this!

The only difference this information will make in your life is when you take action. Yes! Action they say will always equal your result. One of the things people regret in life is not usually what they did. It’s the opportunity they failed to pursue.

Any questions, contributions regarding this guide kindly leave comments on the comment box provided below...