Question: Is Selling Rice A Good Business?

Which is the best rice in Nigeria?

Top 10 Best Brands of Rice in Nigeria & Prices (2020)Royal Stallion (₦26,000 — ₦29,000) …

Caprice (₦26,000 — ₦29,000) …

Anambra Rice (₦22,000 — ₦25,000) …

Lake Rice (₦13,000 — ₦18,000) …

Elephant Pride (₦24,000 — ₦26,000) …

Ofada Rice (₦3,000 — ₦15,000) …

Basmati Rice (₦5,000 — ₦8,000) …

Falcon Rice (₦9,000 — ₦10,000)More items…•.

Is foodstuff business lucrative in Nigeria?

The foodstuff business in Nigeria is one of the profitable sectors of the economy in Nigeria. This is largely due to the fact that everyone needs to eat at least twice a day. … This simply means the type of food that’ll be in high demand in one location might not be so in another location.

How can a business become rich?

One of the most common ways to get ultra rich.Start your own business. … Join a fast-growing company. … Become a specialist. … Secure a management position in a big or highly profitable company. … The frugal and slow way to wealth. … Get into the financial industry or become an investor. … Start with real-estate trading. … Get famous.More items…

How do I get rich?

How to Become Rich in 10 Easy WaysAdd Value. Something many self-made wealthy people have in common is that they are valuable in specific ways. … Tax Yourself. The concept of saving money is not a new one. … Create a Plan and Follow It. … Invest. … Start a Business. … Be Grateful. … Develop Patience. … Educate Yourself.More items…•

How do I become a NFA retailer?

For new applicants, follow these procedures to apply for NFA license:Secure application form from the licensing officer upon payment of application fee;Accomplish and file application with complete requirements to the licensing officer who in turn checks the documents and determines corresponding license fee;More items…•

Where can I buy wholesale rice in the Philippines?

Wholesale Rice Distributors in the PhilippinesAlarcio Rice Mill.Azodys. Address: BP 8014, TANA, Madagascar. … BRM. Address: Oriental Mindoro, Philippines. … Bukal Multipurpose Cooperative. … Classic Centre International Limited Co. … Cns Sooin Trading. … CropCorp Inc. … Destiny exports.More items…

How do I start a small bigasan business?

5 Important Tips for Starting a Rice Retailing Business (Bigasan)Get an NFA license first. … Buy proper equipment. … Choose a good location for your rice business. … Invest on proper storage for your rice. … Get to know your suppliers and prospective customers. … Contact Information for Business Licensing Authorities.

How much is a bag of rice in Nigeria?

Just like the previously mentioned brand its packaging comes in different bags with different prices. The 50kg bag of the Royal Stallion rice goes for about 29,500 naira to 31,000 naira, the 25kg bag goes for about 14,500 naira to 15,500 naira and the 10kg Rice for about 5,000 naira to 6,000 naira.

Where can I buy rice in the Philippines?

Where to buy rice online in the PhilippinesLazada. Lazada is your one-stop shop for household items. Need to bulk buy rice? This is where you should look. … Shopee. If you’re looking to save on your groceries, check out Shopee. You can find a huge variety of rice here, at some of the most competitive prices. … Metromart.

How can I sell rice in the Philippines?

How to Start a Rice Business in the Philippines: 8 Steps.Secure license from the National Food Authority (NFA).Ensure that you have the required equipment and facility to start the rice business in the Philippines.Register your business.Choose a location frequented by your target market.More items…

Is Rice business profitable in Nigeria?

Now, consider the following profit potential of the business. As a distributor or wholesaler, you can get a bag for N8,000, N8,100 or probably less from the importers. If you supply 50 bags of rice in a day at the rate of 8,200 naira, you will be making profit of 200 x 50= N10,000.

Which business is best for earn money?

If you’re one of these people, here are 10 business ideas that could enable you to make money while changing the world.Educational blogging. … Teaching online. … Green app developer. … Uber driving. … Social crowdfunding. … Creating a betterment program. … Writing ebooks. … Create an educational travel company.More items…•

Is rice retailing a good business?

Rice Retailing is a profitable business because rice is the staple food in our country. There are many rice varieties that consumers can choose from at low cost The preferred varieties for daily meals are white, long grained, and aromatic.

How do I start a rice retailing business?

How Do I Start A Rice Retailing Business?Get The National Food Authority (NFA) License. … Register Your Business. … Buy Proper Equipment. … Pick A Good Location. … Invest In Proper Storage For Rice. … Be Friends With Your Suppliers. … Provide Good Customer Service. … Set Aside Budget For Rice Supply.More items…•

What are the most successful small businesses?

Most Profitable Small BusinessesTax Preparation and Bookkeeping. Without needing fancy premises or expensive equipment, tax preparation and bookkeeping services come with low overheads. … Catering Services. … Website Design. … Business Consulting. … Courier Services. … Mobile Hairdresser Services. … Cleaning Services. … Online Tutoring.More items…•