First of all, let’s make a case study what a Nigerian woman shared her testimony in the SUNnewspaper I read a long ago. This woman, Olufunmilayo Olaupo, who graduated as Chemistry started the kerosene retail business with 500 litres because she still did not find a good job she looked for. She wanted to start 5,000 litres of kerosene in her business.
But as for her financial limits, she decided to start to buy her first consignment (5000 litres) as her sisters assisted her by making additional cash. Her cousin who worked at NNPC, Ejibo depot introduced her to the kerosene business because he learned that she did not find a job she looked for. With his financial assistance, she was able to get a surface tanker for her business.
From there, she was able to gradually grow from 5000 litres to 10,000 litres selling profitably in the riotous and tough neighborhood at Mile 12, Lagos, Nigeria and from 10,000 litres to 33,000 litres on a regular basis. With this, she felt so comfortable because the profit margin was so good and she said she did not need a paid job.
Even if she was offered a best paid job, she would not give up her kerosene business because of good turnover daily.
With this, she had an opportunity to move to put another 10,000 litres surface tanker in another location as a branch. Her husband who still did not find a job after graduating was also encouraged to join her business. It is a good example you should apply.
According to Damilola Ibironke I read in the Success Digest Extra newspaper last time, kerosene storage and sales business is one of the easiest and cheapest oil and gas business any person whether male or female, the deaf or hearers, can invest in. Remember this is my paraphrase. Kerosene business is a very lucrative business, but it is as well very volatile.
So you have to constantly watch the market. Some people can make money from N30 or N40 on a litre of kerosene. Sometimes, when you get kerosene from the depot at N130, you sell it at a retail of about N200 or N250. If there is no scarcity, you can make money between N10 and N35 per litre on kerosene daily. Therefore, kerosene is highly lucrative if done properly.
The following steps I should like to offer how you can grow your kerosene business quickly are as here:
Step1: Start with whatever you have.
Step2:If you don’t have money enough to buy a surface tanker drums, buy plastic kegs. But the trick to grow your kerosene business fast is to start with a few plastic kegs, to see how well your patronage is before you buy either a drum or a surface tanker for the purpose of more litres of kerosene.
Step3:Buy funnels, jerry-cans, hose, etc.
Step4:Look to choose where there is dense population in good-home environment, to set up a business there in front of passserbys on the road or in the street.
Step5: Go get cheap kerosene from NUPENG at Mushim, Lagos-Ibadan express if you are in Nigeria. Or ask people where where you can get cheap kerosene.
Step6: Tell them how many litres you want to buy. I offer you to start 500 or 1000 litres, but you decide what litres you want to.
Step7:Then sell people at affordable price. Don’t sell at hiking price if you want fast profit margin daily, or if you want your business to grow fast daily.
Step 8:Remember about a jerry-can you should measure carefully because the measurement of jerry-can is not right even you look it is right. For example, the 20 litre jerry can be actually about 25 litres when you fill to the brim and the 10 litre jerry can be actually 12.5 litre.
So you have been so careful about the jerry can. It can be applied same to all sizes. Remember about the transport cost of kerosene for your destination you need to add a charge on each litre you sell so that you can avoid losing your profit.
Step 9:Replace daily what you sell till your business grows strongly. Remember only record each time you sell and buy because it will help you to compare what you spend and sell. If your profit you sell is higher than what you spend, it show it is good, but if your profit you sell is less than what you spend, it shows how poor you control or you may mistake.
With sale record transaction daily, your kerosene business will grow fast. It will help you to monitor between the profit margin and lose in your balance.
Any comment or add, you are welcome to this comment box below.
Today commodity market are showing bearish trend, on MCX. Bullion is open on negative side and falling down from that position. No positive movement is expected from gold and silver. UNION Budget is going of open today and Mr. P Chidambaram going to announce it. Let’s see what change they made on UNION budget on 2013-14. 
