Idonweak:
Good day, Nairalanders!

A while ago, I created a thread seeking your advice on what business I can start with 500k.
https://www.nairaland.com/8021143/what-business-start-500k
The thread made it to the front page, and I received a lot of suggestions, all of which I deeply appreciate. In the thread, I mentioned that I would love to go into printing and photocopy business while also selling phone accessories on the side. However, after careful analysis and research, I realized firstly, 500k was too small. Secondly, the business is already competitive. Almost everywhere in this town has someone selling phone accessories. Therefore, it's not really viable. Nevertheless, I continue to rack my brain and pray to God for guidance. Then while taking a walk one fine evening last week, a very good business idea came to mind: the food mart (selling foodstuffs at retail prices).

The reasons I think this business is good are, firstly, I stay in a student-dominated area, so there's no market nearby. The only available market is quite far from the school area. Secondly, people eat every day, and due to the high cost of living, a lot of people don't buy things in bulk, especially students. These are just a few reasons among others. I want to sell foodstuffs like rice, beans, garri, spaghetti, noodles, groundnut oil, palm oil, seasoning, spices, eggs, etc.

Well, the challenge I have now is I haven't done this business before. In fact, I haven't really done any business before, so there are a lot of things I'm not aware of. For example, I don't know where to get those foodstuffs at wholesale prices. How can I store them so they don't spoil? What are the common problems that arise in this line of business? Although I'm very positive and certain that I'll do well, I want to know the profitability of the business.

So if you are in this line of business, please, your suggestions and guidance are highly recommended. If there's anyone that has a suggestion or something tangible that would help this young boy who's trying to survive, please drop it in the comments. Thank you.

PLS GO OFFLINE

you can't get everything here


It is an OFFLINE BUSINESS...... why not go and get mentored by someone doing it(in a different location or campus) offline before venturing into it at all.


YOU CAN'T GET DIRECT MENTORSHIP HERE.

Its just tits and bits crumbs you may get and it won't lead you far

blackpanthar:


PLS GO OFFLINE

you can't get everything here


It is an OFFLINE BUSINESS...... why not go and get mentored by someone doing it(in a different location or campus) offline before venturing into it at all.


YOU CAN'T GET DIRECT MENTORSHIP HERE.

Its just tits and bits crumbs you may get and it won't lead you far

Thank you. Of course I'll still make my research offline. But, currently the work i do takes so much of my time. Which is why i use nairaland to get ideas. The work is the reason why i want to start a business.