Steps to take before starting a palm oil selling business

[Augusta]

Before starting a palm oil selling business you need to take some good steps so that you would be able to run fhr business effectively. The needed steps are
Maning Market research

it is good to first make a Proper research of palm oil selling business. You need to understand the nature of the business. The nature of the business, Where to source for cheap palm oil and how you can store palm oil for at least a year without it losing its taste.

Consider Capital to be Invested

Find out the right amount of capital to start the business. it should be cover expenses like Working Capital: amount of money needed to buy wholesale palm oil from farmers. Building Capital: capital needed to rent. Storage Capital: the capital needed for proper storage of palm oil.

Search for Contacts

For smooth running of this business you need the contacts of suppliers from different states.

Find out means of Transportation

You need to find out how you would be transporting your products to your place

Add yours

 

[Holicent]

Palm oil is a common vegetable oil in many countries and there are many ways to sell it. You can either sell it directly to the public or sell them palm oil products or products which contain palm oil.

Here are some steps you need to take before starting your business:

1. Decide on what kind of business you want to start.

2. Find out how much money you will need to set up your business as this will influence the kind of business you want to start with.

3. Decide on where you want your business to be located, whether it should be in your home or an office space.

4. Choose a name for your company and register it with relevant authorities like Companies Registry or Intellectual Property Office (IPO).

5. Know your target market and product.

6. Choose a location where you can establish your business.

7. Do research on products, tools and equipment needed for the operation of your business.

8. Obtain permits from local authorities at the start of your business venture.

9. Find peace of mind when it comes to legal issues involving your palm oil business.

10. Decide on whether you want to do wholesale or retail sales because each has its own pros and cons depending on what type of product you are selling and what target market you are looking for.

 

[Carpon]

I find this post very informative because I'm trying to start a business of this nature. It is as well a palm oil business and I have been able to make analysis and surveys on the scope and kinetics of the business.

I think some of the steps I've taken will be useful if I share and add to the much you have mentioned.

I first of all enquired from someone who markets palm oil. He's from a region of the country that is rich in Palm oil production and the kind of oil gotten from there is natural, fresh and clean. So one thing is you must have your source of the commodity, and that source should be trustworthy and produce good palm oil if not people will not even patronise you.

Then I was able to ascertain the price per can and think of what I have right now and how many I can purchase for a start up.
Something very important you must have is the connection to people in need. I was able to talk to about 10 families that will need at least a cab per month and that is what am still working on.