Banku and Tilapia Business is one business that can make you a ton of money in 2024. If you have been wondering what business to venture into in 2024, either as a side hustle, or your main business, then the Banku and Tilapia business is for you.
Before going into the business aspect of Banku and Tilapia, let us first examine in details what Banku and Tilapia is.
What Is Banku And Tilapia?
Banku is a staple Ghanaian food made from fermented cassava and corn dough mixed together. The combination or mixture has a smooth, sticky texture when ready. Depending on the mode of preparation, some usually come out whitish in colour, while others come out somewhat brownish. But the taste of the banku, irrespective of the colour, is usually the same.
Banku is also very cheap, compared to other types of food in Ghana, thereby making it everyone’s favourite. Banku on its own is very cheap. But when combined with Tilapia, it’s a bit pricey. It is therefore advisable for whoever is selling Banku and Tilapia to also consider selling only Banku to those who want to buy only the banku and take it home to eat with any other kind of soup or sauce. By so doing, you will have mixed clientele, and both the rich and average will patronage you.
This is also one reason Banku and Tilapia business is a very lucrative one, because the market is very big, and the demand is very high.
Tilapia fish on the other hand is very popular in Ghana. It won’t be an understatement to say that Tilapia is Ghana’s number one fish, followed by catfish and other kinds of fish.
There are many ways of cooking tilapia. But when taken with Banku, the tilapia fish is usually grilled or fried, and served alongside the banku, hence the name ‘Banku and Tilapia’, or Banku Tilapia.
Why Banku And Tilapia Business?
- National Dish: As a meal, banku and tilapia fish is also Ghana’s favourite and national dish. It is a very prestigious meal, loved by Ghanaians and foreigners residing in Ghana. Even outside the country, Ghanaians in diaspora still eat it.
As a business concept, serving banku and tilapia is very viable, and potentially promising. The market potential is very huge, and the demand for banku and tilapia isn’t going to drop anytime soon.
Known and Loved: Interestingly, Banku and tilapia is considered a “taste of home” for many Ghanaians abroad who often crave the dish. This set of people doesn’t waste time in seeking out a clean decent place where their favourite Banku and Tilapia is sold, and they usually go with friends or family. Banku and tilapia has name recognition even among non-Ghanaians. In areas with significant African populations, it could attract a wider customer base.
- Versatile: Banku, as stated above is also very versatile, and can be eaten with different soups and proteins. Expanding the offerings beyond just tilapia opens up more culinary creativity, and opportunity for making more money. Things like banku with red snapper, shrimp okra stew, pepper sauce, etc.
- Affordable: Ground provisions like corn, cassava and vegetables are fairly inexpensive. Tilapia is also an affordable, easy to source fish. Keeping costs down allows for attractive pricing.
Challenges In Banku and Tilapia Business
The main challenges would come with perfecting recipes, ensuring food quality consistency, storage and logistics around the key imported ingredients, and managing costs especially in areas with higher rent and labor costs. Overall, if executed well with good savvy marketing, banku and tilapia could be a solid culinary business concept.
Affordability – Popularity and Familiarity – The main challenges would come with perfecting recipes, ensuring food quality consistency, storage and logistics around the key imported ingredients, and managing costs especially in areas with higher rent and labor costs. Overall if executed well with good savvy marketing to the Ghanaian diaspora, banku and tilapia could be a solid culinary business concept. It is one business you can do with very little startup cost.