There are many supply businesses around the world. In Ghana, Nigeria, Kenya and other African countries, there are many too. Not all of them are very profitable. Some require heavy investment in logistics, whilst others do not require much. The key to success according to many successful players is keeping an eye on the supply chain itself. It requires attention. Here are a few profitable supply businesses you can engage in when you are in Ghana.
With over 25million population, vast farmlands and long distance between farming communities and densely populated towns and cities, Ghana is a good spot to engage in the carting of foodstuff from the farming communities to the cities and towns where they are heavily consumed. Market centres, schools, restaurants and hotels are your major customers. Establish a good business relationship with a few and you are in business. Timely delivery, quality foods and affordable prices would take you to the top
There exist a housing gap of about 200,000 units per annum, but the real estate sector is booming in Accra, Takoradi, Tema and other major cities. You don’t have to build the houses to make money in this boom. You can supply building materials like sand, stones, blocks, iron rods and cement. These are viable supply businesses that earn over 100% return on your capital at the end of the year if you manage it well by keeping overheads down. To succeed, you have to establish long lasting supply agreements with real estate developers. Be timely, and always supply high quality products at affordable prices.
At the end of March 2016, Ghana’s mobile voice subscription stood at a little over 36.1 million according to the National Communication Authority. Such a big market for the supply of scratch cards. You can place yourself somewhere within the supply chain and make some money, albeit meeting all regulatory and service provider requirements.
The world has not gone completely paperless yet. And Ghana, Nigeria, Kenya and other countries on the African continent are far from being completely paperless. Tones of paper is consumed on daily basis in these countries. Deposit slips, invoices, receipt books, letterheads and business cards, tolls and tickets, exercise books, and many more. Your job is to identify consumers of such products and place yourself in a position to supply them with what they need. Contact schools, banks, business organizations and broker a deal to supply them stationery.
You may require bigger capital for this but once you do it well, there’s money in there for you. Many businesses and private homes seek all day security. Banks, business organisations and private homes are paying huge sums for security services. You may want to do the physical security or the technology-enabled security or combine both. Whichever one you choose, there’s market for you to supply your service. And there’s money to be made. Private security is however, a heavily regulated business in Ghana.
Similar to security, businesses are paying thousands of Ghana cedis on monthly basis for cleaning services. Their premises ought to look sparkling clean at all times. Banks have cleaners throughout the banking hours to keep the place neat for their numerous customers who use the banking halls and the washrooms. You can register a business and arrange with a business organisation to supply cleaning services at a fee.
This one is quite obvious. We see many oil marketing companies by the streets of Accra and even along the intercity highways. We need fuel to go about our everyday business. Both businesses and individuals need them. Though filling stations require huge starting capital, the pay off can be good and tempting. There are other supply players in the cycle such as the loading and delivery tankers we see every on the roads. That’s also a good business. The risk in this sector is quite high and you’ll need a solid insurance policy to safeguard you in the event of any accident.
Eggs, Fruits and Vegetables
These are items needed by every household on daily basis. Positioning yourself as a business in the supply of such items can make you rich. Profit margins are at least 15% on fruits and vegetables. Hotels, restaurants, and catering service providers are large-scale consumers of these produce.
Hospitals need certain supplies to be able to functions well. These are supplies required on daily basis. Needles, gloves, cotton wool, plasters, water, disinfectants, and other similar items are those needed by hospitals and clinics. If you are able to close an arrangement with these health providers, you’re in business for products yielding about 10% margin. The more you supply, the more money there is to make. The risk is high and you must supply products that meet all required standards.
Supply businesses require that you meet all standards expected of the products, deliver on time, deliver high quality products at affordable prices, and also improve communication and human interaction skills to keep the relationship growing stronger and stronger. Then your business would grow bigger and bigger.