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Stats: 2,210,924 members, 4,825,927 topics. Date: Thursday, 21 March 2019 at 06:41 AM
|Please How Lucrative Is Coconut Oil Business? by trustworthy1(f): 4:00pm On Mar 12|
Good evening all. Please I'm thinking of going in to coconut oil business. Please how lucrative is it?
|Re: Please How Lucrative Is Coconut Oil Business? by amstardi: 4:36pm On Mar 12|
|Re: Please How Lucrative Is Coconut Oil Business? by lightdream: 7:14pm On Mar 12|
I only know coconut oil expensive
|Re: Please How Lucrative Is Coconut Oil Business? by Sambaby7640(m): 7:56pm On Mar 12|
Very lucrative my dear. Am currently making nothing less than 500k a month. Started two years ago sha.
|Re: Please How Lucrative Is Coconut Oil Business? by trustworthy1(f): 10:24pm On Mar 12|
Sambaby7640:wow I'm a pcm (will be going for service with this batch) and I wish to start up the biz during my service. please can I pm you?
|Re: Please How Lucrative Is Coconut Oil Business? by Sambaby7640(m): 11:20pm On Mar 12|
trustworthy1:Before you do that let me know how much you have as startup capital.
|Re: Please How Lucrative Is Coconut Oil Business? by trustworthy1(f): 11:50pm On Mar 12|
|Re: Please How Lucrative Is Coconut Oil Business? by alen4smith(m): 5:17am On Mar 13|
Sambaby7640:can we talk ?I have a reasonable capital.
|Re: Please How Lucrative Is Coconut Oil Business? by dominique(f): 3:56pm On Mar 14|
My in-law dabbled in it briefly. She said the gain was ok but the stress from extracting the oil from the coconut was too much so she stopped
Be truthful now. How much capital did you inject to make N500k in profits monthly?
|Re: Please How Lucrative Is Coconut Oil Business? by Lexusgs430: 3:58pm On Mar 14|
Oga, and you want us to take this at face value or coconut value?.....
30 Likes 1 Share
|Re: Please How Lucrative Is Coconut Oil Business? by Lexusgs430: 3:59pm On Mar 14|
|Re: Please How Lucrative Is Coconut Oil Business? by amstardi: 3:59pm On Mar 14|
Nice one. So this yesterday post hidden somewhere in the business section actually made fp. Good. Let the dogs out
|Re: Please How Lucrative Is Coconut Oil Business? by lonelydora: 3:59pm On Mar 14|
Whatever your hand findeth to do, do it well.
With hardwork and God's favour in this biz, you will be smiling to the bank daily
|Re: Please How Lucrative Is Coconut Oil Business? by AngelicBeing: 4:00pm On Mar 14|
|Re: Please How Lucrative Is Coconut Oil Business? by Lexusgs430: 4:01pm On Mar 14|
This one pass talking..... This is paying a visit and inspecting financial books..........
If you have to pay for this service, pay.........
|Re: Please How Lucrative Is Coconut Oil Business? by amstardi: 4:01pm On Mar 14|
Two things could be happening here.
1) you are either lying
2) you could be under the influence of some narco or hard drugs
54 Likes 1 Share
|Re: Please How Lucrative Is Coconut Oil Business? by Rejoice006(f): 4:03pm On Mar 14|
27 Likes 1 Share
|Re: Please How Lucrative Is Coconut Oil Business? by abahyor(m): 4:04pm On Mar 14|
Can we talk plz! Send ur email plz cuz I wud like to start a business
|Re: Please How Lucrative Is Coconut Oil Business? by orimipe(f): 4:04pm On Mar 14|
It is lucrative if you've got the market. I've been into it for the past 2 years. I do not extract mine myself though. I get mine from Badagry. Would make more sense if you can be a distributor. With that you sell faster and your brand gets to a larger market.
|Re: Please How Lucrative Is Coconut Oil Business? by ajayiopy: 4:06pm On Mar 14|
|Re: Please How Lucrative Is Coconut Oil Business? by 1zynnvn(m): 4:07pm On Mar 14|
Every business is as lucrative as the amount of time, knowlege, experience you put into it.
10 Likes 2 Shares
|Re: Please How Lucrative Is Coconut Oil Business? by awesome99(m): 4:09pm On Mar 14|
I'm interested too
|Re: Please How Lucrative Is Coconut Oil Business? by aylipple: 4:09pm On Mar 14|
To know more about Coconut value chain, you should join National Association of Coconut Producers, Processors & Marketers Association of Nigeria (NACOPPMAN).
That's the umbrella body for coconut-related stuffs in Nigeria & only one recognised by FG.
2 Likes 1 Share
|Re: Please How Lucrative Is Coconut Oil Business? by Joromi12: 4:10pm On Mar 14|
Many would send that 500k guy pm and get duped
38 Likes 1 Share
|Re: Please How Lucrative Is Coconut Oil Business? by Tohpeh(m): 4:22pm On Mar 14|
It is lucrative if you inject good money into it, let's say 30k could start it.
Requires a constant marketing strategies as well.
Check us @ burshcoconutoil.com
On Konga @Bursh Coconut oil
+234 816 117 5146
|Re: Please How Lucrative Is Coconut Oil Business? by Kobicove(m): 4:24pm On Mar 14|
Is the 500k your profit or your turnover?
|Re: Please How Lucrative Is Coconut Oil Business? by nigg: 4:26pm On Mar 14|
Joromi12:You are right. We are very gullible in things like this
|Re: Please How Lucrative Is Coconut Oil Business? by aariwa(m): 4:30pm On Mar 14|
|Re: Please How Lucrative Is Coconut Oil Business? by Lexusgs430: 4:30pm On Mar 14|
You are not nice...... Are you sure you have not got drunk on coconut oil?.......
|Re: Please How Lucrative Is Coconut Oil Business? by sisipelebe(f): 4:32pm On Mar 14|
Joromi12:Exactly, he's just looking for a prey.
|Re: Please How Lucrative Is Coconut Oil Business? by Restroom: 4:34pm On Mar 14|
Coconut oil business is very lucrative, but depends largely on the price of coconut, which is easily affected by forex. To produce one litre of coconut oil, it will cost between 1500-4000, depending on the price of coconut, your machines and physical location. The market price of 1 litre is anywhere from 5,000. to 10,000 depending on your location.
Usually, the profit is usually times two
During the Jonathan era, I make a litre for 1200-1300 and sold it for 3,000-4000.
Since Buhari era, when forex went up, to make a litre cost me about 2500-3000 and sell for 4,500-6000. So, you see, it is highly lucrative, the more forex goes up. the more your profit reduces especially if you are not using expeller machines.
One producer in zBenin city relocated to Badagry because of price of coconut in Benin, from the time of Buhari.
If you can get fairly big coconut for say 120-200, then, with an expeller machine you can make 1 litre with about 1900-2300. And you can sell your 1 litre for a minimum of 3500-5000.
let me quickly add, coconut oil business is not an easy business o.
You need an expeller machine
You need a place to turn to factory
You need a good source to obtain coconut, medium to large coconut that are mature
You also need to know who you want to sell it to.
Do you want to produce cold press or wet milled?
Take note, if you want to do the business big time, your capital will be around 15million and above because the machines are expensive and then get nafdac approval. You cat sell in stores or pharmacy shops without nafdac
From my experience girls and women are the number 1 hit
Mothers with babies won't buy your product because, if you plan to go approach them in ta clinic, the health workers in the hospital will not let you sell it there. I tried it in Ubth, andi was told , everything sold to pregnant wome n at the clinic must be cleared from the highest level. So don't waste your time with mothers with babies , most especially if your price is not very cheap.
Coconut oil is multifunctional product, your beat chance of making money of it, is to produce the pure one called virgin coconut oil and retail to your family, friends and neigbkrs. Create a Facebook page for your product as well. Now if you, target a very busy spot in a place like say Yaba, Ketu/Ikorodu road or any where you e sure of human trafficking. Get a stand around there, and open a small kiosk to retail your coconut oil. This model is one of the best model, of getting your customers slowly. Anyone who needs it will simply stop by and buy. I don't like the idea of moving around with it. Better for people to know you are always in a particular spot where they can. check in on you.
To give you an idea, of what you are getting into and the profitability, make 1 litre by yourself and try to sell it to your compound people, friends and street people. Focus on the female folks. And obese people.
Coconut oil! or VCO slims down fat and obese people! These are among my customers as well!
15 to 20 coconut gives you one litre
To produce 1 liter, with cold press expeller machine, you will need to grate all 15-20 coconut either by hand or motorise grater, which can take about 2 to 3 hours depending on your skill
Before you will grate them of course, you must deshell them
After which you grate. Deshelling can take up to 2 to 10 minutes depending on your skill. Let's assume it will take 1,hour to deshell all 20 coconut.
After you deshell you grate. After grating, you need to dry the grated meat with low heat of oven or sun. If you use oven, it could take anywhere from 1hour or more to dry the grated coconut meat. If you use sunlight, when the sun is really sunny, not on a rainy, it could take over 3hours.
Mind you, there is specific moisture content you must dry it to, to make sure the expeller machine can extract the oil from it.
After drying your grated coconut meat to the required moisture content, switch on your expeller machine and feed it the grated dried coconut meat...
the machine will press out over 1 litre of cloudy virgin coconut oil within minutes of doing so for you.
Collect all your cloudy coconut oil, stir for 30 minutes and allow to stand for days. This will allow the cloudiness to settle to the bottom while the top will become clear like water.
If you have a plate filter, you can filter the oil immediately and package it for sale.
Now, I would like to say this: If you have say 500,000 to 1million, please don't invest in coconut oil business.You will likely abandon the business because of the bad economic policies of government which kills small business.
Instead, let me tell you what you should do, if you want to become a millionaire 3- 4 years time.
Go into coconut farming! Get a land . PLant 100 to 1000 coconut trees. Some trees produce within 3 years and will keep producing for over 30 years. Interestinglu one tree can give you 250 coconut a year. Now multipily 100 trees x 250 coconut, that is 25, 000 coconuts.
If the selling price of one coconut is 150-200, multiply 25,000 x 150 or 200
You will have:
That is the amount and higher you will end up making every year for the rest of your life, from 100 coconut trees in your farm. Coconut is a cash crop, and it prices are not coming down in Nigeria because of huge demand.
Don't throw your money away on coconut oil business, sometimes shortage of coconut to produce, NEPA or the price of the local coconut can be very discouraging. Go to where people make red oil in factory, using machines. If you can stand it and cope with it, that is an idea of what to expect when you start processing coconut.
It requires plenty stamina.
Besides, from experience , many of us will make money from coconut farming than oil, because, coconut oil production is not our thing. We do red oil. Asia does coconut oil. We can't take it from them.And they can't take it feomus.
The price of 1 litre coconut oil will get us three 4 liter gallon of oil The poverty in the land will not allow many people to buy the oil. But if it is the coconut, people buy it also chop garri and eat other things. Na belly first course.
And again, if you are not in Ghana, Lagos Badagry and Ogun state, where you can get mature coconut from numerous sources, as in mature coconut in abundant supply, don't risk your money. Fuel price will still go up.Diesel price will still go up. Of they do, trust na, coconut price will go up too. When dollar go up, coconut price will go up.So the cost of producing 1 liter will also go up. But if you have a coconut farm, while everything is going up, that means more money for you.
However, if you know how to market your product, you can target the production of just 20 liters of coconut oil a month, which can fetch you 120,00 to 150,000 . With the production of ,20 litres, monthly, you can barnish poverty from your life for ever.
Ask around, there are already some big time producers in Nigeria. Buy coconut oil in bulk from them. Repackage it in your container and sell it as your product. Dont claim you produce it o. Just give it a great name, and at the back of the label, simply state this: produce by the real owner, packed and marketed by your company.
What s cool about coconut oil is that, you can produce soap from it, baby oil, baby lotion, aromatic oils and also, use it to free meat and snacks to sell to people who want to taste coconut oil meat,snacks etc. If you own a cooking business, the addition of virgin coconut oil to the food can be the greatest difference between you and competition. Honestly, anybody wey eat the food, is hooked. The aroma is just too coconutty.
If you must invest in the business, start small.Start small. The Nigerian business environment is killing and you can't easily pass the cost to customers you know.
I started in 2013:
I produce from:
Modified kitchen method
Sun light method
I produce in small batches. The work involve just to make 1 litre is so great, but pays off when you charge the buyer times two. I know you can't get the product, that is the oil,anywhere else in Benin so easily, so I charge times two of my production cost.
I don't do cold pressed, the expeller machine is damn too expensive. As a chemical engineering technician, I have all the knowledge to fabricate the expeller machine and the local types. But I don't have the interest any more. Our disposal income keeps reducing. People bought the oil more in Jonathan era than Buhari era, because money nor too dey like. that.
When Dollar went, and coconut I bought for N60 jumped to 120 and the one sold for 80-100 jumped to 150-200, it affected my business badly. Like I said earlier, a friend of mine who even had all the machines and was producing cold press with all the certification and nafdac registration fled to Badagry from Benin. He told me he could not cope with cost of transportation, higher cost of coconut and electricity, fueling of generator etc.So he had to move.
Of all the inquiries I get about the business, none pursue it further, after advising them, because they all thought it is a get rich quick business. It is not. You must produce and go out to look for who will buy your oil.
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