Topic: New business idea. - page 6. (Read 1705 times)

Well, this also includes what the OP said, if in his country peanuts can be made into oil, then this business needs to be developed because there will definitely be a lot of demand or need. I think it's true that running a business is what is needed, such as starting a business in the field of food security and furniture and household equipment.

Of course the theory of business is easy but if you put it into practice it will be difficult but the most important thing is to try or put it into practice straight away. There is a little addition regarding the operational part. In my opinion, before we develop a business, we first need to know the business we are running. If we already know, we will definitely know the details so that when we switch to "autopilot", we can know what needs to be improved in our business (it can also be a standard and evaluation for the people we employ). That's why you need to use the remaining 20% of the time for operations.

Are you joking here? How easy and cost do you think it is to start up this business? Let me do small work here for you. Starting a fuelling station can be a complex and time consuming process and in fact the process can take several months or even years depending on how buoyant you are financially. This is never an average person business especially in the country the Op is residing. Remember that fuelling station is not just ordinary business and you'll need to do some market research to determine if there's a need for a new station in the proposed area. You'll also need to create a business plan and secure financing. Then, you'll need to purchase the land, get the necessary permits and licenses, and start construction. It's a very costly and expensive business to think of as struggling person. The costs include the cost of the land, the cost of the pumps and tanks, the cost of permits and licenses, and the cost of insurance. We are talking about small scale businesses here.

Those who choose to take out loans to run the businesses they build will certainly make us even more enthusiastic about running the businesses we build, because we have an obligation to be able to pay off the loans we take and this will enable the businesses we own to develop well.

Being able to take advantage of opportunities will also make it easier for us to run the business that we are going to build because if we choose the wrong type of business that we are going to build, it will certainly be very difficult to be able to develop the business that we are building and it will be even worse that the business that we are building will not be able to run smoothly good and also we experience losses from this business.

It is the key to pursuing success business and there are many people who do not know the strategies and patterns of business that is true, so that even though they have developed some businesses they still have difficulty getting success. I was born into a family of business people and my parents always teach something as we are talking about, when intending to develop a business so look at what needs are needed in that place.

Capital and knowledge are important as a condition for someone to build a business and can be ascertained if someone does not have capital, the business that is run will never happen. There are some people trying to find loans in building a business and they are really determined to run it even though there is a big risk in it. But one thing that I think they need to consider, which is to see opportunities for the business that is run and if they master it taking a loan is not a problem in my opinion.

Running a business is not easy because someone needs capital to run it, especially if they don't know how to develop it and some know how to develop but do not have capital. When they want to be combined, capital, knowledge and ability to see opportunities are three things that are needed when people run a business and without skills to see this it will be difficult for them to achieve success in business.

Your groundnut oil business idea is great – it's accessible, requiring only equipment and not specialized skills. The high demand in your country makes it promising, and starting small before scaling up is a smart move. Your willingness to invest more shows confidence. It's a viable venture with potential for individual income and possible growth into a larger enterprise. Definitely worth exploring!

How are you so sure that this graundnut oil is in demand in a lot of countries? There should be some statistics on that to help support your claim plus, I've been watching a lot of Business Insider lately about different products that are expensive or in demand and so far I haven't seen a video about this one and I'm not even familiar with the nut so I don't know if it's a real stuff. My advice to you OP is to pitch this business idea like Shark Tank or Dragon's Den, you need proof of concept, proof that there's demand and proof that you can sell it on a city scale at the least because I assume that the manufacturing equipment isn't going to be cheap so go back to the drawing board and learn how to sell your product in the forum, other people in the forum can help you create a better post so people won't be put off by a wall of text.

Peanut oil is not more popular than sunflower oil or some other oils because it is more expensive , but that does not mean its business will be difficult. In my country, only people with a good income or rich people use this type of cooking oil, so there are still some people selling this product and they have many advantages in business. Although customers are quite picky, in return they do not face too much competition so they still bring in a decent income. Don't think that if the product is not popular, it will be difficult to do business, because a successful business requires many factors, not just the product .

Not only cooking oil business but any business field needs a market and we need to conduct a thorough survey before opening a business. OP just gives an idea, you are the one to judge whether the product is suitable for your area or not. OP doesn't live in your country, he can't know what the demand is there.

This is a good idea but will not work for worldwide market because groundnut oil is not used throughout the world, even within a country groundnut oil is used based on regions, for example in India it's used in southern part of India wherein north, west and east have there own staple and they prefer different oils like mustard oil and all. Most commonly used oil is sunflower oil as it's used throughout the world wherein organic groundnut oil is more expensive than sunflower oil but it has its own health benefits so it can be advertised and sold for health conscious customers but I the problem is the people will go for the one which is more cost effective unless they are from first world countries.

I have been to the groundnut manufacturing plants and it requires lot of efforts and proper procurement of raw materials, I would suggest you try at smaller scale but it involves a hefty machine costs, we can give a try at small scale after going through proper training not just by going through a random YouTube videos.

Just a suggestion from my end, try utilizing dry vegetable power business as wel it's not as difficult as groundnut oil but profit yield is more

They're mostly high in countries that don't care much about their health like the third world countries like Nigeria that'll eat anything they see because nobody cares as the economy of the nation isn't favoring the masses to provide job for them to get income that they can use to buy basic food needs for survival. I don't recommended groundnut oil because of the fatty acids (cholesterol) in the oil and it isn't a good oil to be used for cooking. Oils like olive oil are one of the best (especially from my experiences of using them to cook and have eaten food made with them). Groundnut oil business is in demand because it's cheap to make and things that are cheap aren't of the best quality. Our health is our wealth so we should always take good care of our health.

A new business idea I'll recommend is teaching your locality the importance of using oil with less or no cholesterol as they're a danger to the human body. You can then sell them good cooking oils to use and generate profits while you're helpings your people to stay healthy. Making a profit at the expense of people's health isn't a good business strategy even though it's what is becoming a normal practice in the business world. We can make a difference as change begins with us. If you didn't know about this, I hope you have gained something from this reply and you'll use it to good use. Oils high in cholesterol are harmfulness to the body like groundnut oil.

If they don't have skills they have to look for them by learning something that can generate a profit, otherwise they can work, even if they can't there will certainly be someone who teaches it and they must also have the nature of the desire to learn by themselves or what is called self-taught. because in my opinion the main skill if for capital can borrow first, there will be risks but if with confidence maybe it doesn't matter as long as you run it well. But I myself also do not recommend borrowing capital, I myself will work with the skills I have if there are any new things that must be learned then I will do it, and if I can or until I am proficient I can generate income and it can be saved so that one day it can be used to start the business I want.

Everything you said is right, it needs research for various things such as capital, place, and concept. Because that will determine the future, by looking at what is developing at the moment they can follow it, but there will be competition. But if they use an idea that is unique and different from others, I think it will be successful because it is different from others, whether in terms of marketing or others. Apart from that, as you said, business people usually look or survey the place to start their business, because I also think like that, we have to monitor the place for us to open a business so that we can decide in the future, because by choosing a strategic place it will also affect the business that is run.

The other is also correct, the one that what we have, because how can you sell if you don't have any products with you? Or why will you still look for other when you already have something? The goal in business is to sell more products or services so that we can earn more.

So, I don't think it's about targeting a specific customer only. Each people are the same. They need food and other basic things. We can start here, so that we are sure that we will never ran out of customers. Indeed, business is hard. This is what other people didn't realize. They only rush on starting a business with a limited knowledge on their head. No wonder why they didn't succeed.

Actually, you brought a good business, which is also a significant profit if you have adequate funds, because capital is very necessary to consider before starting any business. However, this type of graundnut oil business requires a good location where everyone will like to patronize your business center, because some people will just go and struggle for capital and start businesses, and if there aren't enough consumers in that community at the end of the day, you will lose all of your capital.

Furthermore, this form of business may also require an educated individual because there are several methods in which we must utilize our common sense, which is knowledge, to build a company without a someone help.

If the business idea is not bad, I think it is worth trying because I personally have never tried it and have never even seen anyone implementing such a business in the past. So this needs to be tried if it looks good and can also be very profitable and I also very rarely hear that the peanut oil business can be a very good investment for all people. That's why new things like this need to be tried to see the results, whether they are really profitable, or just ordinary level profits because profits are usually born from the large number of people interested in a product, even if it is a new product.

Chosing a business to start especially for the first time is one hell of a difficult task to do, chosen the wrong business can be frustrating due to how the choice you make will determine the funds you will be needing to erect such business thereafter arrives the trouble of chosing a location for it which has to do with chosing the right market for your business. What can help a businessperson chose the right type of business that he will make profit from is the location, what is lacking and in serious demand in that location is what makes a business good business. You can move same business to another location and wouldn't make  sales because it's  where that business services/products ain't needed In high demand, so location counts when chosing a business line.

Its good ideas with your business about graundnut oil making if you share in your local board because easily to get partner or investor want to be part in your business, another thing to make it interest or looks excited with your graundnut oil making business you can put picture or proof about process of this business working.  I don't familiar with this kinds of business because in my environment its not really popular despite more excited in your Country Nigeria, beside looking for partner or investor want to join with your business you can take loan in the bank and looks how capacity with your business will growing up in the future.

I don't think bad ideas if you submission loan in the bank and looking for lower loan interested to make your business running well without need to get trust reputation due not all people easily to get close deal in this forum although you are from the same country.

It sounds so interesting and seems like a business that will be lucrative but I feel going into a business like this getting equipment in which the oil can be extracted from the groundnut, but if thier is an easy way which the oil can be extracted it will be good idea, I think this oil can be useful in beverages and other foods . It is very hard to see people who are into this business in a small way. Groundnut oil business will be a reasonable investment because this is a product that is needed in most of the food we eat daily.  It won't be a bad business idea.

What you said reminds me of a famous saying in business: "We should sell what customers need, not what we have." That is a saying that carries a lot of meaning and I think business people should remember this saying.

In addition to knowledge and capital to start a business, it is even more important that we clearly know the customers we are targeting and what their needs are. From there we can provide what they really need. We do not need to sell expensive, luxury items in areas where people have average incomes and vice versa...When talking about business, we have thousands of things that need to be discussed carefully before proceeding.

You're right, doing business sounds easy but when we start doing it, things will not be as we imagined.

Money isn't easy to come by. It takes money to set up something and the person going into it may not have that capital to start it up. From that video I watched, I'm sure that old man didn't set that stuff up for free.

Groundnut business is time consuming. Some people may not like such a business that takes their time and away from the comfort of their beds. Have you ever considered how comfortable it's to make money by just sitting in your living/bedroom? The ease of such is more likely to scare anyone who has the ability and set skills to indulge online business going into what you're advocating.

That woman's voice was really annoying...❌

She kept shouting money money and how easy it was to make it in groundnut business. The funny thing about life is that we see and believe that the grass is greener on the other side until we cross over. Let her get involved in such a business and she will start singing a different song of how not so lucrative it's.

BTW, this is for my Nigerian brethren as this is more relatable to them, do you know that the thing called Ororo isn't in anyway from groundnut, even though the market people call it groundnut oil? Yes, that's a fact. Ororo is made from palm kernel, not groundnut.

In other words, building a business is not easy if someone does not have capital and skills, this is where equipment is needed to build it and if one of the things needed is not there then it is impossible to run it. Accuracy in building a business must be based on community needs which are the main priority and if we are unable to see these needs it will be difficult to develop the business we run. It is better to prioritize businesses that meet the needs of the community because they will be easy to develop because they will always buy these necessities even though their financial condition is less stable due to inflation or recession.

Building a business requires research about the needs, location and number of consumers. When we can master this, the business we develop can develop well. Therefore, business people usually conduct a survey of the location, needs and income levels of the people around the business that we are developing before starting it. By knowing consumer needs, it will be easier for them to develop a particular business because the market will still need buyers and that is the foresight that business people need to see.

To choose a business is not that difficult; sometimes we are the ones to choose the one that will suit our capital. You also need to have a budget for everything written down. If you don't have enough money, you should definitely not go for something that is high in price, but you should make sure that what you are about to sell people will demand such things so that you won’t come and buy them and keep them in store. As a businessperson, you also need a good location to sell something. You can’t go where they are selling something that people don’t need in such an area, so in short, for me, businesses just need a good location and funds to fund the business.


Normally, you can’t sell what people don’t need where you are. As a businessman or woman, you must sell something that people will buy in the location where you found yourself and to be sure that there is high demand for your product. However, for me, I don’t think it is necessary to sell what will be useful in the future and not in the current situation. I believe that if you do business, you will be able to see what they require at the time, and then when the time comes, you will be able to switch. Although I don’t know for sure, maybe that is really what you want.