Kitchen equipment is a must-have in every household; without it, your favorite delicacies would not exist. High-institution Nigerian students acquire them as well when going back to school. If you are seeking an excellent business to begin, the kitchen equipment business is a wonderful choice.
It is a very lucrative business that anyone could easily venture into and start making cool money, regardless of gender or location.
The kitchen equipment business is relatively easy to start, and you can make high-profit margins on all equipment sales. On both large and small scales, you can still make profits because various kitchen utensils are in high demand across the country, including both fancy and non-fancy ones.
Table of Contents
What is Kitchen Equipment?
Kitchen equipment, also known as kitchen utensils, are appliances used in the kitchen to cook, prepare, or dish out food. Simple utensils like knives and cutting boards and complex appliances like ovens and refrigerators are all kitchen equipment.
How to Start a Kitchen Equipment Business
The kitchen equipment business is a perfect deal for all entrepreneurs. Do not worry, it is profitable in Nigeria, no matter the inflation or deflation. However, you must be aware of all the nitty and gritty to succeed in the Nigerian market.
This article will show you how to start a kitchen utensil business in Nigeria. As you read on, you’ll also discover the starting cost, the profits to anticipate, and a list of 30 pieces of kitchen equipment to stock up your shop with.
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Begin with a market research
Of course. You wouldn’t go into the market and find a kitchen utensil vendor and ask, “Do you have a frying pan?” or “Give me a grater.” No way. First, you must conduct thorough research to understand the business. You’ll need to research startup costs, which entirely depend on how big or small you want to start.
Learn more about the business operations, the number of utensil retailers in your neighborhood, the occupants of the area, the best kitchen utensil brands to sell, and other relevant information.
Read Also: How to perform market research and identify your target audience
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Source for capital
Now that you’re already aware of what a kitchen equipment business entails, the next thing to do is source funds to get started. Although this could be done before you make inquiries, because sometimes the amount determines the type of business you should venture into, the startup capital you’ll need solely depends on your manner of operation and the kind of kitchen utensils you intend to sell.
In Nigeria, there are many ways to raise capital for a business. Some save towards it, so if that’s your option, that’s awesome. Make sure the money you raise can be accounted for. If you take loans from family, friends, or partners, ensure the figures are something you can pay back just in case the business does not spring up immediately.
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Get a shop
You’ve raised your funds; what’s next? You obviously cannot set up a kitchen equipment business in your house. A shop is required to run a kitchen utensil business in Nigeria because they can be gotten from almost anywhere. Therefore, you must invest in a shop, whether small or big, to attract customers and passersby.
By strategically setting up your kitchen supply store, you may immediately build relationships with potential customers, offering you opportunities for rapid expansion. Remember we mentioned that the target audience should be considered? Be sure to set up in a good location with moms or others who are “kitchen utensil savvy.”
With a good location, who knows? You may be able to open a second location in no time.
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Source from the best suppliers
To succeed in Nigeria’s kitchen equipment business, your supplier is very important. So, you should take time to identify the best suppliers that can help you spend less but offer quality.
You can identify the kitchen equipment manufacturers close to you and buy from them. This is a fantastic way to start up as a wholesaler. However, starting on a small scale, you can purchase from wholesale kitchen supply dealers, sell as a retailer, and still make profits.
In Nigeria, Kano and Lagos are the best and cheapest places to purchase kitchen utensils. But, you can also buy them even more affordably directly from China and resell them in Nigeria for massive profits, probably up to 100% ROI or even more.
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Get started and begin selling
After making your findings, getting the funds, and stocking up your shop, all you need to do is start selling. To successfully sell kitchen supplies, you must market them to potential customers. You could call out to passersby; it doesn’t reduce who you are.
Inform your friends and family about your new business. Show off your items on your social media platforms. You can also set up an online business page with your brand name. Keep in mind that you need a global audience to thrive. Always remind your prospects to remain in their thoughts when they are ready.
One effective way to grow your business is by sponsoring it on Insight.ng. The results will wow you. Do so here.
Cost and Profits In A Kitchen Utensils Business
Starting up a kitchen business depends on where your supplies are coming from. If you intend on starting small, you might need about ₦400,000, including your shop rent. So 100k or 200k might be okay to begin with, and you can still make over 50% profit or more.
If you want to stock up your shop heavily, you should be thinking of spending millions, but don’t beat yourself up—you are also getting returns in millions.
If you want to run the business on a large scale, you could save more if you buy kitchen utensils from China. You can get them at cheap prices, sell them, and make a good profit in Nigeria. In fact, if China is your plug, you might need as little as N50,000, excluding your shop rent.
30 Pieces of Kitchen Equipment For Your Shop
Every type of cooking equipment is relevant. Most importantly, you must ensure that you get the regular, every day, and highly technical ones to stand out when most vendors don’t have them. The truth is that you have to identify what works for your customers and prospects.
In no particular order, find below a list of 30 items you should have in your kitchen equipment store.
- Knives
- Plates
- Spoons and forks
- Cutting Boards
- Mixing Bowls
- Pans
- Pots (Including pressure pots)
- Ovens
- Refrigerators
- Plastic Bowls
- Microwaves
- Blenders
- Juicers
- Boiler
- Deep fryers
- Toasters
- Ranges
- Serving Spoons
- Whisks
- Turners
- Coffee Brewers
- Microwaves
- Mixers
- Prep Tables
- Grill
- Broiler
- Tongs
- Rice Cookers
- Food Processors
- Dispenser
Add fridges and freezers if you want to make the business big. Almost every family household has a freezer, a fridge, or a combination of both. If you also have that, be sure that you are in for a good market.
Read Also: 5 Effective ways to raise capital for business in Nigeria
In Summary
The kitchen equipment business is a smart one to venture into. There’s a lot of money to make if you have the equipment mentioned above and even more. If you are ready to set up one, ensure you hold on to the guide mentioned above, and you will be shocked at how a piece of equipment used to prepare various delicacies can fetch you some good money.
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About Author
- Hi. My name is Ogechi. I am a digital content writer who is passionate about making discoveries in tech and lifestyle and presenting them in words and in an exciting manner for my readers to have that ‘divine imaginative experience’.
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