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This article comes with a free business plan outline for Palm Kernel Oil business in Nigeria.
IS PALM KERNEL OIL BUSINESS PROFITABLE?
The palm kernel is gotten from the palm tree. The palm kernel has a wide range of benefits which can fetch money if it is properly managed and monetized, one of the most profitable of all its benefits is the derivation of palm kernel oil.
The palm kernel oil extraction business is capital intensive, it involves a range of processes which will need labor, which is one of the reason of its capital intensiveness the kernels will have to be collected or bought, and then it also has to be broken to get the nuts out of the shells before it can be taken to the factory to extract the oil, these stages definitely require labor, also, an array of machinery has to be acquired, thus money should not be the issue when considering this venture.
As stated in the previous paragraph, the venture is capital intensive, and here is a list of necessities that has to be in place prior to starting;
a. Land
This is an important factor of production, for any production business, there has to be a land where all processes are executed. The land should house a store where products must be stored and a production unit where all processes of production will be carried out.
b. Labor
Clearly stated earlier in this article, the emphasis should make it known by now that this cannot be overlooked. The labor can either be full time or part-time; it is really up to the manager or business owner. But labor definitely has to be in place.
c. Machines
Also, this was stated in the introductory paragraphs and was identified as one of the reasons the venture is capital intensive, the machines needed in this business are;
- Crusher- This crushes the nuts and reduces it to sizes that will enhance the smooth operation of getting the oils out of them, it costs around #350,000 to #400,000.
- Fryer- This fries or roasts the nuts got from the palm kernel, this process subjects the nut to so much heat that it allows the oil in them easy to extract. A fryer can dry 2.5 to 5 tons of nut in a day depending on the size of the fryer. It has a minimum cost of #500,000 and this depends on its size too.
- Press- This presses the heated nuts from the fryer and gets the oil out of them, it can only work on 2 tons of nuts per day.
d. Storage Facilities
This will house the oil after it has been extracted, it must be in conditions that are not detrimental to the product and should be neat at all times.
NOW THAT YOU KNOW HOW TO START A PALM KERNEL OIL BUSINESS IN NIGERIA, YOU SHOULD GET A BUSINESS PLAN
How To Download The Palm Kernel Oil Plan Template PDF (with financial analysis)
Above is a part of the Palm Kernel Oil Extraction Business Plan template in Nigerian. IF you need the complete business plan, follow the procedures to download it.
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