New business idea. - page 9. | Bitcointalksearch.org

Faisal2202

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Quote from: Twentyonepaylots on November 06, 2023, 06:44:24 AM

you want to take advantage of growing demand of this graundnut oil which is good, but posting it here would be difficult to attract some investors. I mean you can try there is no problem with that and it's worth trying I believe.

OP misspelled the term groundnut by writing it graundnut and he did it 2 or more times but I was ok with that, I thought it might be a writing problem or OP might be reading it graundnut instead of groundnut, but when I read your writing groundnut I got confused and started to search if there is any term graundnut or is there any oil named as graundnut but I don't found any. So both of you please clear up that confusion that we are talking about GROUNDNUT which is also known as peanut oil.

Besides all that, I think it would be a good investment as according to the news you provided the sales are getting lower due to the demand problem but rather than selling it to the international market, we can get good demand at the local market. I don't know the demand for it in my place I don't even use it we have two types of oil here and almost everyone uses them. This oil has a lot of benefits for us, I like the idea but still DYOR before making any investments.

FatFork

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Groundnut oil production might work as a business idea in some parts of the world, but you gotta think about a few things first. Whether you can actually get the peanuts to make the oil in the first place. Peanuts grow okay in different climates, but I think they like warm, tropical regions the most. So it can get tricky finding enough raw peanuts in places where they aren't grown much. Not to mention more expensive. But where peanuts are all over the place already the business could make good money.

So while making groundnut oil could maybe work out, you really gotta check if the climate and weather conditions, and thus the availability of peanuts raw material, where you live make sense before jumping in.

Samlucky O

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Quote from: Su-asa on November 06, 2023, 06:30:16 AM

I would have posted this thread on my local board (Nigerian local board) but I didn't because both Nigerians and other countries can still benefit from this little business idea.
The kind of business I want to share is what is called graundnut oil making. This business idea can help someone that doesn't even have a skill and someone that is not even educated, all the person just needs to have is the money to buy the manufacturing equipment that's all.
With this graundnut oil making business, one can get the kind of life he/she wanted because the demands in this graundnut oil making business are a bit high. One can even start with a little money. However, this business is also an investment. If one can dedicate more time to it, he/she can benefit from it (can make it a company).

this information shows how the demands of the graundnut oil is in my country today is.
You can also watch a little on how to manufacture the graundnut oil, I can even invest more if I have this business and start making more money, so what are your takes in this idea?

This is another business strategy, but I don't think if this will be beneficial to many people here because it not for everyone. here is a multinational platform. I think you would have taken it to your local board because more people will be interested about it more in your local board, compeard to people here.

But nevertheless I think some people would still be interested though.groundnut oil business is a lucurative business and profitable.

Litzki1990

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Demand for oil is in every country and our country is no exception but the demand of Chinese groundnut oil is very less in our country, there is considerable demand of other edible oils including soybean oil and sunflower oil in our country. So if we think about groundnut oil business in our country then I am sure people of our country will not be successful from this business. If this business is a popular business in your country and if you think people of your country can earn profit by doing this kind of business then you and people of your country can do this business if they want. We also think about business but it is a different business. I like your business idea, maybe that idea will be useful for our other business.

Casdinyard

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Quote from: Twentyonepaylots on November 06, 2023, 06:44:24 AM

The fact that you didn't post it on your local board means you are gatekeeping this possible business, and you should have not because there might be some people in your country who want to join this venture with you.

Well for me, this is a good business to start as soon as possible since it is bullish, but I'm not sure how long would it still be in demand since your country is using many types of edible oil. I see your point here, you want to take advantage of growing demand of this graundnut oil which is good, but posting it here would be difficult to attract some investors. I mean you can try there is no problem with that and it's worth trying I believe.

You good bro? He literally shared it with everyone so as to not gatekeep it. Why would it be the other way around if more people are able to see and understand what this little business idea of his entails? That doesn't make sense does it?

Edible oil's the market to go if you want something that doesn't saturate as well. Just go and take a look at your local grocery and see how many types of cooking oil there are, pretty sure there's no reason for him to fear not getting the proper audience for this since, granted there's health benefits, people will be more than happy to try out new types of oil. Olive and Virgin Coconut's been in the market quite recently and it boomed cause people are health-conscious, I'm pretty confident in the health perks of this groundnut oil he's talking about so with that we can safely assume this business's bound to boom.

Die_empty

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Quote from: Su-asa on November 06, 2023, 06:30:16 AM

You can also watch a little on how to manufacture the graundnut oil, I can even invest more if I have this business and start making more money, so what are your takes in this idea?

Groundnut oil production is capital-intensive and requires some basic skills. This means it is important to check if you have the finances to establish and run the business. From your article the business is lucrative but they also failed to inform us of how they came up with such a conclusion. The research also didn't tell us a case study of study so that we can compare it with the situation in our country. Anyway, anyone who intends to engage in this business should do a lot of research because there are so many hurdles to surmount.

Groundnut seeds are scarce and very expensive in my location. So I have to consider if my selling price will be competitive based on the price in the international market. There is also a need to check the agricultural policies of the your country because since groundnut is scarce the government can place export restrictions on the product. Thank you, OP for sharing this business opinion.

btc78

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i’ve never heard of this oil so it must be safe to say that it’s not something very common in my country

first of all it’s good that you have an idea on what business you want to take on and it seems like you’ve really thought about what product would be in demand my suggestion is to make an outline

first calculate how much you will be needing to get this project off the ground, consider all factors needed in producing and selling, estimate how long will you get back the money you used to start this off or when will you be starting to see profit and how much you are expecting and have plans on standby when expectations are not met

it’s important to plan meticulously because starting a business is always a risk but if you truly see potential in this one then i say go for it

Beparanf

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Quote from: Su-asa on November 06, 2023, 06:30:16 AM

this information shows how the demands of the graundnut oil is in my country today is.
You can also watch a little on how to manufacture the graundnut oil, I can even invest more if I have this business and start making more money, so what are your takes in this idea?

Kudos on sharing this information globally since this new to me because palm oil is the most popular oil production here in my country. There’s no demand for this kind of oil since this is new and I’m not aware that peanut can be use as an alternative oil.

I believe it will be helpful if you can provide details in the post about the advantage of this oil compared to other oil industry especially on country that already have mass production of different oil such as palm oil.

Frankolala

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There is no doubt that the cost of groundnut oil is high and would be very profitable for whoever venture into the business presently. It is not as easy as we say it, because for anyone that start up a business that he has plans for, he must know the in and out of that business so that he doesn't end up on a great loss at the long run.

Getting the capital to get started and how to know the exact market strategy is what should be put into consideration, I know that whoever starts this business will make good profit because Nigerians uses more of peanut oil than other source of oil no matter how expensive it is. It is only palm oil that is highly used by everyone. The business is a lucrative one since you can also use the by-prodouct for other purpose. You don't consider only having the capital bit you should also have some reserve funds for other unforeseen challenges in the business.

Aanuoluwatofunmi

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Having a personal business to create a start up always have capital intensive because you will need money to make up every necessary set ups needed, that is why it is mostly advised that we should first learn to earn money enough before starting our own venture because of the capital demand, we also have to create a perfect work schedule as plan for how the work operations is going to be carried out, this will help towards archeiving a proper a proper business management.

Stepstowealth

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Quote from: Su-asa on November 06, 2023, 06:30:16 AM

what are your takes in this idea?

It will not be as easy as it sounds because of even after you start manufacturing, you will need to have some kind of registration or approval from the government to start marketing your products else the business you hope to start will close up faster than you expect. You will also need to invest in packaging because it is necessary to have better sales unless you only want to remain local. You will also need to invest in marketing of your produce. All those things will cost money.

examplens

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Quote from: Su-asa on November 06, 2023, 06:30:16 AM

this information shows how the demands of the graundnut oil is in my country today is.

First, this is a very poor article and does not provide any precise details about consumption and needs based on which some kind of conclusion can be drawn. What I concluded from that, is the big demand for oil is due to the lack of raw materials. What will happen next year when production increases and the quantity of raw materials is ten times greater?

Assessment of profitability in agriculture is not done only based on one year. I believe that it can be a profitable business if you look at it in the long term, especially if you grow your peanuts

Quote from: Su-asa on November 06, 2023, 06:30:16 AM

You can also watch a little on how to manufacture the graundnut oil, I can even invest more if I have this business and start making more money, so what are your takes in this idea?

Looking at this, I would suggest that if you are already thinking about production, try to raise it to a higher level. More modern production with much higher hygiene standards.

Gozie51

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Well no doubt that there is demand for graundnut oil in Nigeria because it is really needed. But what makes the business more lucrative and profitable is what I can not really put my fingers on. It is not that their are additional delicacies that has been added to Nigerian meals to say that the demand is higher than what it was before except that probably the population of Nigeria has increased and that could be proportional to it use.

Having said that, I think the other reason I can adduce to it profitability is probably the high inflation level in the country that has also caused multiple increase in price of goods. So the profit margin for business people is really high because there is no price control mechanism making any business person to sell with whatever price they so desire. The price of graundnut oil and palm oil have really skyrocketted.

bangjoe

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I just heard about this, but I also want to declare that in my country I don't have much enthusiasts about peanut oil, even though in my country I have fertile land, but here there are more who ask for coconut oil and palm oil. The average peanut is used for snacks and seasonings only.
In other words, if I start this business, I need a sustainable marketing because there is almost no enthusiasts at all.

But maybe if you think about it, regarding the superiority of kerosene and also the percentage of oil content in peanuts is more good than, palm or coconut every kilo, I am interested in doing so, but I still doubt the results, this is quite risky because it is not there the market. The price of peanuts is also quite expensive so this is quite confusing if there is no knowledge in managing its manufacturing materials in order to benefit.

Lida93

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Quote from: Twentyonepaylots on November 06, 2023, 06:44:24 AM

Well for me, this is a good business to start as soon as possible since it is bullish, but I'm not sure how long would it still be in demand since your country is using many types of edible oil. I see your point here, you want to take advantage of growing demand of this graundnut oil which is good, but posting it here would be difficult to attract some investors. I mean you can try there is no problem with that and it's worth trying I believe.

The business sound lucrative and bullish as there are not many people that are into the groundnut oil business at the moment, and I will like any investor that will want to buy into the idea of investing in the groundnut oil business to not just do so because of the bullish market status quo as it's obvious the bullish price won't last for long when more investors start moving into the line of business making supply higher than demand, would you still continue or exit the business. Set your goals right ahead before trying to take the advantage from the start. My fvckin opinion though!

rachael9385

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Quote from: Su-asa on November 06, 2023, 06:30:16 AM

I would have posted this thread on my local board (Nigerian local board) but I didn't because both Nigerians and other countries can still benefit from this little business idea.
The kind of business I want to share is what is called graundnut oil making. This business idea can help someone that doesn't even have a skill and someone that is not even educated, all the person just needs to have is the money to buy the manufacturing equipment that's all.
With this graundnut oil making business, one can get the kind of life he/she wanted because the demands in this graundnut oil making business are a bit high. One can even start with a little money. However, this business is also an investment. If one can dedicate more time to it, he/she can benefit from it (can make it a company).

this information shows how the demands of the graundnut oil is in my country today is.
You can also watch a little on how to manufacture the graundnut oil, I can even invest more if I have this business and start making more money, so what are your takes in this idea?

Wow, what a nice business idea. I love the fact that you posted it here for others to be aware of it and not only Nigerians. This business idea is something that we should take advantage of. I have already opened the link and I watched the video of how the man produced the granut oil. Like in the video, the woman makes a comment and she says that after removing the granut oil from the grounded groundnut,
the other parts are still for good use, which means that double profits are involved in this groundnut oil factory.
With your comments, I can conclude that you are even planning to get started on your own. However, it will help you get more money that you can use to invest in Bitcoin.

hugeblack

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What you are trying to say is unlikely to be an economic base or a business idea, as the forum is multinational and some countries are not agricultural, as in my country we export oil and there are rarely agricultural projects with good returns.
If the peanut oil industry is profitable, the biggest problem is the export restrictions, as being limited to the local market will not achieve good profits.
In my country, sunflower oil and olive oil are the most used, while peanut oil is rarely used.

Twentyonepaylots

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The fact that you didn't post it on your local board means you are gatekeeping this possible business, and you should have not because there might be some people in your country who want to join this venture with you.

Well for me, this is a good business to start as soon as possible since it is bullish, but I'm not sure how long would it still be in demand since your country is using many types of edible oil. I see your point here, you want to take advantage of growing demand of this graundnut oil which is good, but posting it here would be difficult to attract some investors. I mean you can try there is no problem with that and it's worth trying I believe.

Su-asa

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I would have posted this thread on my local board (Nigerian local board) but I didn't because both Nigerians and other countries can still benefit from this little business idea.
The kind of business I want to share is what is called graundnut oil making. This business idea can help someone that doesn't even have a skill and someone that is not even educated, all the person just needs to have is the money to buy the manufacturing equipment that's all.
With this graundnut oil making business, one can get the kind of life he/she wanted because the demands in this graundnut oil making business are a bit high. One can even start with a little money. However, this business is also an investment. If one can dedicate more time to it, he/she can benefit from it (can make it a company).

this information shows how the demands of the graundnut oil is in my country today is.
You can also watch a little on how to manufacture the graundnut oil, I can even invest more if I have this business and start making more money, so what are your takes in this idea?

Topic: New business idea. - page 9. (Read 1705 times)