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How To Start Charcoal Exporting Business In Nigeria

Discussion in 'General Business' started by justin249, Nov 17, 2019.

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  1. justin249

    justin249 New Member

  2. Debra4life

    Debra4life New Member

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  3. serome

    serome Administrator Staff Member

    let us now look at the steps on how to venture into charcoal exporting business in Nigeria.

    1. Carryout a proper research: You have to carry out a proper research on anything that has to do with charcoal. Make sure you read about the country you want to start exporting to and also their views concerning charcoal. Make sure you also check their policies that govern exporting charcoal from Nigeria. A proper research and investigation will really save you from a lot of troubles.

    2. Make sure you register the business with Cooperate Affairs Commission (CAC): Registering the business with CAC will go a long way to protect the business and also give your prospective customers the right attitude towards you. Without been told a lot of foreigners outside the countries are really afraid to transact business with Nigerians because of the past experiences they had. If your business is actually registered with CAC, this will eradicates the fear from their mind when transacting business with you.

    3. You need to register with Nigeria Export Promotion Council Certificate (NEPC) as an Exporter: If you are through with CAC registration, you need to register with NEPC as an exporter. Registering with NEPC will really ease your stress because they offer helps to exporters who register with them.

    4. Open a bank account and fund the account: You need to open a bank account for the business and get the account funded. This account you are funding serve as your capital for the business. The amount of capital you mapped out will actually determine the level you will start the charcoal export business.

    5. You need to get a counselor: Make sure you get someone that has been in the business as a counselor.

    Make sure you get someone that has been in the business as a counselor. This particular person is really in a better position to advice you and counsels you. This person will also guide you through the mistakes he had made in the past and save you from passing through the same mistake.

    6. You need to get a good supplier: If you have gotten the necessary counsels, what you need next is a good supplier. Getting a good supplier is very important because if you make a mistake by supplying bad charcoal to your foreign buyers, these your buyers may lose interest in the business. In the area of getting a good supplier you can use the internet to get their contacts. With their contacts you can even visit them and discuss face to face with them. Discussing with them face to face will also give you the opportunity to bargain the price.

    7. Look for your buyers: Make sure you concentrate on those countries that have a high demand for charcoal. Some countries in Europe and Asia usually demand more. It is necessary you seek for buyers because without buyers you will not be able to make sales. One of the ways to get prospective customers is by searching the internet and also by attending the trade fairs being organized by NEPC that you registered with. You can also get buyers by contacting agents to help you source for them.

    8. Exporting the charcoal: The exportation of the charcoal is the last step. Exporting the charcoal simply means sending it to the countries where they are needed. The exportation of the charcoal can be done in two ways which are either Free on Board (FOB) basis or through Cost, Insurance and Freight (CIF) basis.

    The first one actually means you have to take care of the product’s cost and other expenses on till it gets to the shipping point. The second one actually means that you will take care of the insurance cost and transportation until it gets to the final destination.
     

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