HOW'S MY STEEM INVESTMENT IN AGRO-BASED INCOME (RAW HONEY)? AFTER A MASSIVE PRICE DROP IN STEEM!
BEFORE I START, HERE ARE SOME FACTS ABOUT HONEY; HOW TO KNOW A REAL ONE
- Honey is a very essential natural substance with multiple vitamins, it contains several natural Nutrients good for the body both internally and externally.
- Honey doesn't get spoil, it could last for a decade or more if properly preserved.
- Never place a Honey container on a bare floor i.e you could notice the Rag underneath the Bucket during my purification process.
- To ascertain a real Honey, just deep the tip of a matchstick in it and strike it. Once it ignites and burns then you have yourself an authentic Raw Honey.
When Steem was around $4 last year, I tried an Agro-based Investment with a little portion of my Steem, you can read MY STEEM INVESTMENT IN RAW HONEY; TRYING OUT AGRO-BASED INCOME WITH STEEM IN MY HOME COUNTRY. Today remembered the journey and how it all started when a local farmer that had been discussing about investment with me gave me a huge discount with my first consignment which is a Gallon of Raw-Honey.
I had been in talks with this local bee Farmer in Kogi State Nigeria for many months non-stop through a college friend of mine, I had my eyes set on a small fish farming business, and this man was able to convince me that there is a huge ROI in Honey Business and that he wants investors/Buyers in Large Volumes from cities, and in Lagos State Nigeria where I reside.
Its been a roller-coaster ride with the business such that i had to halt it for months, i was a bit reluctant back then to jump in this business venture; i mean i was running a struggling Startup IT firm, so i was wondering how this Agro-based opportunity could Sync with the fading Tech-startup.
I am using a gallon, but its actually 20 liters in the yellow Keg. Sadly, on two occasions, the Gallon burst before getting to Lagos and i could only salvage just a little above half on both occasions.
As you can see in the container from the picture, i usually handle the purification process myself to save cost and man power. Here is a short flashback on how i purified it all by myself.
BACK TO MY PURIFICATION PROCESS
All tools were home-selected for the purification process:
- A Wooden or metal footstool
- Phone pack/Empty Box(serving as a wedge to hold the plastic sieve during the filtration process)
- Plastic Sieve. (To Filter)
- A spatula or spoon (To stir)
- Box (My Projector Box) as the stand.
HOW MUCH OF STEEM IT COST ME THEN AND HOW MUCH IT WOULD HAVE COST NOW
Each gallon of Raw Honey purchased directly from the Bee-keeper cost NGN 27,000 which equals to almost $80 that is about 20 Steems when Steem is $4.05. Then it cost me another NGN 3,000 for shipment down to the city which amounts to $8.4; approximately 2 Steems plus. In all, that is roughly 23 Steems.
Now that Steem is way below $1, i am recounting my experiences and losses, there was a time I ordered for a larger volume and due to poor packaging and handling, i lost two gallons before the whole products got to the city just like the second time i ordered for the bee-products. Yes, you might say that's part of business hazards, but right now, even if i powered down the whole of my Steem, i would still go bankrupt in the Honey Business.
In essence, the 23 Steem that it costed me to purchase and ship my first product would have amounted to just $6.44 now, taking Steem to be $0.28 according to Coin Market Cap as at when i was compiling this article, it would have cost me about 333 Steems now!