Hi all,

I have just 500,000 naira as my savings. I want to rent a shop and start a business. I want to include POS business in the business too. Please I need suggestions on what business to start. I already saw a shop in my area and the total package is 240k. What business can I start selling with the remaining 260k?

Shop almost taking half of the money.
I'd advice you save up more and plan well before renting that shop

Less than a thousand Dollars.
EMEFIELE AND BUHARINOMICS have rendered NAIRA USELESS.
YOU CAN ONLY BUY AND SELL GROUNDNUTS WITH N500'000. SIR.

orisa37:
Less than a thousand Dollars.
EMEFIELE AND BUHARINOMICS have rendered NAIRA USELESS.
YOU CAN ONLY BUY AND SELL GROUNDNUTS WITH N500'000. SIR.

do you have up to 500000 naira in your life? Stop commenting rubbish and let the wise ones suggest

Ammmy:
Hi all,

I have just 500,000 naira as my savings. I want to rent a shop and start a business. I want to include POS business in the business too. Please I need suggestions on what business to start. I already saw a shop in my area and the total package is 240k. What business can I start selling with the remaining 260k?

The shop fee is quite expensive. I hope you get a shop fee which is quite lesser than that.

If you're a computer literate, you can go into online registration; WAEC, NYSC, Jamb, etc. Anything that has to do with online reg.
You can add photocopy to it if possible or seeking of soft drinks.

Just my opinion.

Come and do OmegaPro

If you have 500k
And used 240k to rent shop
Use 60k furnish and design the shop with blue LED lights.
Depending on your environment go to market with the 200k and buy either phone accessories, female cheap clothes or weavons or better still start POS business

Ammmy:
do you have up to 500000 naira in your life? Stop commenting rubbish and let the wise ones suggest

Am3y : sorry sir..

Ammmy:
Hi all,

I have just 500,000 naira as my savings. I want to rent a shop and start a business. I want to include POS business in the business too. Please I need suggestions on what business to start. I already saw a shop in my area and the total package is 240k. What business can I start selling with the remaining 260k?

Why do you think you need a shop? Rent has taken more than 46% of your seed fund..
To make ₦7,500 as profit on POS,
You need to do a transaction of ₦580,000. That is for every 100k you process, you make only ₦1,300.So weigh your options properly. Sit down and work out your own path. Don't jump on the bandwagon.

Your shop(total package included) shouldn't be more than 10%, of your seed fund. You don't need a shop to do business.

Ammmy:
do you have up to 500000 naira in your life? Stop commenting rubbish and let the wise ones suggest

Nice reply

Try tomatoe farming and smile to the bank

garriAndsugar:
Shop almost taking half of the money.
I'd advice you save up more and plan well before renting that shop

He could get an online store and use his apartment as warehouse to store his goods depending on what he's selling

I'm so sorry for what I posted earlier.

I'm also learning from the thread

Gadgets and Accessories Business (Buy low, Sell High).

You don't need a shop if all you have is N500,000.

Your main focus should be learning digital marketing (facebook and instagram ads) so you can sell ONLINE.

Identify fast moving products (earpiece, fast chargers, powerbanks, speakers, kiddies tab, headphones).

Have a reliable logistics service that offers Pay on delivery service.

In a country of over 200 million people, you can make a good living by appealing to just 1% of the population.

Just 1%.

To understand this better, you need to understand numbers.

Imagine you sell a product and your profit on that product is only N5000.

Just 1% of 200 million would give you something around 10 billion Naira.

The power of numbers is absolutely incredible.

Now, what if you appeal to just 0.1% of a 200m population? And you have a product that gives you a profit of just N1000?

This would amount to something around N20m.

This was how cowbell was cashing out on a low, back in the days, when they focused on selling milk in sachet.

If you know your numbers and you know how to run Direct Response Marketing, you will make lots of money.

There is power in numbers, and understanding your numbers is super incredible.

Business is a number game. Get a pen and paper, sit down, do the maths and know your numbers.

ecomalchemistt:
Gadgets and Accessories Business.

You don't need a shop if all you have is N500,000.

Your main focus should be learning digital marketing (facebook and instagram ads) so you can sell ONLINE.

Have a reliable logistics service that offers Pay on delivery service.

gbam

Ammmy:
Hi all,

I have just 500,000 naira as my savings. I want to rent a shop and start a business. I want to include POS business in the business too. Please I need suggestions on what business to start. I already saw a shop in my area and the total package is 240k. What business can I start selling with the remaining 260k?

Spending 500K on a shop just so you can run a POS business in it is not a wise investment decision

Kobicove:


Spending 500K on a shop just so you can run a POS business in it is not a wise investment decision

Absolutely. you don't even need a shop to run a POS business.

you can easily setup with a chair, table and umbrella.

You are good to GO.

Ammmy:
Hi all,

I have just 500,000 naira as my savings. I want to rent a shop and start a business. I want to include POS business in the business too. Please I need suggestions on what business to start. I already saw a shop in my area and the total package is 240k. What business can I start selling with the remaining 260k?

.
Where do you based?