Penguin2:


You people shouldn’t be telling this kind of lies na!

Haba!

What is a lie in this?

OP, just listen to me. I'm into POS business and I can categorically tell you there are many people in the business, but that doesn't stop you from making your money if you handle it yourself .

Is it not the same POS business that has changed my life? Dump the damn banking job. I can bet it with you, if you can get a good location, and do it yourself, you'll be smiling every month.

I don't make less than 400k revenue in just one centre I have. Don't let anyone discourage you.

Well, it's your choice and I wish you the best..

I'm branding another new location I just got for the same POS business.

Penguin2:


Well you might be right.

And I suppose the shops are in good locations too

It's true just forget about those guys, they don't understand pos business

Gambit23:


That's the P, once u are in a semi hidden place with few customers, u will.be making 1k daily...Some people in markets or very crowded places make a lot of money, am sure about this. In Enugu here, 100k withdrawal will give u like 1k - 1.5k profit and such withdrawals are constantly made in big markets like ogbete or in building material markets.

Interesting to see you are in Enugu.

I did the business in Enugu too. But I located inside the street of Ubaka, Achara Layout.

There was poor patronage. Sometimes not up to 10 transactions a day.

Now I had somebody I was paying because I can’t be there myself.

Then more centers were opened even as existing centers were having low patronage.

I calculated a lot of things and decided to ditch the business.

If I had up to 1million naira capital base or even 500k, I’d have considered relocating to Kenyatta, Ogbete or that building Material.

unite4real:


as far as i know, every N10,000 transaction gives a return of N200

pls do the maths

it will take a total transaction of N10,000,000 to yield a gross return of N200,000.

Considering that you are not the only one in that local government that gets the rush of POS transaction requests, how do u expect you alone to make N200,000 from 700K bros?

Sir it's not calculated that way.
It's true that the commission on 10000naira is 200. But 10000naira can still give you commissions of 1000naira or more.

Some people collect as low as 1000 or 700naira. And you will charge 100 as commission.

You should take the offer of working with the bank while you employ a sale person (boy or girl) but a trusted one that will manage your POS business and place the person under salary,you are even going to have another advantage of supporting your POS business with your monthly salary from the bank job.
Importantly,be mindful of the place (area) where you'll open your business shop/boat, you'll be a happy person before the year ends because I strongly believe you'll make it.
Cheers bro and I pray for success in every part of your legit hustle.

Daytonbale:
Please I don't know which section to post this.
Dear Nairalanders please help me out , I secure a new job in bank in Lagos and the salary is 55,000 per month for a start and they will increase it after three months and from my house to my office is not far is trekkable I don't pay Tp to work.

And I also have a new pos machine that will give me money too I don't know what to do since the bank job Don't give me time to combine the two, my bank working hours is from 7am to 5pm and I can't combine the two .
Please can I resign in the Bank and concentrate with the POS business
or should leave the POS and concentrate with the bank Job .

please help me

55k job is not a job to lose sleep over.
If your POS can give you 40k in a month, it's far more better the 55k monthly pay. While doing the POS, you could see other opportunities and there is room for growth. In that slavery of a job, you rarely grow. Trust me, they will pay you that 55k for ages.
To wrap it up, I know someone who resigned from bank job of 90k to face his POS and he is doing much better.

Daytonbale:
Please I don't know which section to post this.
Dear Nairalanders please help me out , I secure a new job in bank in Lagos and the salary is 55,000 per month for a start and they will increase it after three months and from my house to my office is not far is trekkable I don't pay Tp to work.

And I also have a new pos machine that will give me money too I don't know what to do since the bank job Don't give me time to combine the two, my bank working hours is from 7am to 5pm and I can't combine the two .
Please can I resign in the Bank and concentrate with the POS business
or should leave the POS and concentrate with the bank Job .

please help me

Go for the bank job and get some experiences
While you get some to run the Pos for you

If you have high patronage and you have large capital why not, bank job is not reliable, no job security as can be sacked at any time. Good luck.

Penguin2:


Interesting to see you are in Enugu.

I did the business in Enugu too. But I located inside the street of Ubaka, Achara Layout.

There was poor patronage. Sometimes not up to 10 transactions a day.

Now I had somebody I was paying because I can’t be there myself.

Then more centers were opened even as existing centers were having low patronage.

I calculated a lot of things and decided to ditch the business.

If I had up to 1million naira capital base or even 500k, I’d have considered relocating to Kenyatta, Ogbete or that building Material.

Ya

Kastonkastroll:
Abeg comot for here. I'm a business person too. Have never worked under anybody so I clearly know what's up. A new business start-up is about your capital, the location, the needs(not wants) of that environment and their purchasing power.

Thumbs up bro!

It's the location that matters for the business. I've not seen what can give daily good money like it before.

Meanwhile, you don't have to go pitch your tent in the market, just find an environ where residential houses are much. That's the deal!

Inkling:


With 100k you get 1k
Some aboki can come for 300k at once, that is 3k. If you're trustworthy you can make convinently 7k profit in a day.

Aboki like trust worthy person, they will bring their friends if they notice you are worth dealing with.

The main problem is capital and security

In my area in ph POS now charge 300 naira for 100000 naira. They even write it on their banner. The market has totally crashed. I am now looking for something else to do.

tomilayomi:
Take the bank offer and look for someone you can trust with the POS business, you can even fund the POS business with loan from the bank you're working.

Bros dont encourage him to do loans please. That think is a slow killing viper

fortune1968:
Wait . Are you sure this is true ? 150k profit in a month ? Unbelievable !

I am a living witness bro. I make 400k monthly., and we're about 8 POS centres on the same road.

I thank God I didn't make the mistake of employing someone to run it for me. Although, I work Monday- Sunday..

Please don't try resigning my neighbor my neighbor that did it she regretting it now

Emmbanny:

Sir it's not calculated that way.
It's true that the commission on 10000naira is 200. But 10000naira can still give you commissions of 1000naira or more.

Some people collect as low as 1000 or 700naira. And you will charge 100 as commission.

You are quite correct. But i have yet to see a POS point with so much traffic as to generate 200k profit in a month, considering that every square kilometer, you find up to 15 POS centres even around car wash, eatery, mechanic workshops, spare parts villages , barbing and hair saloon, and in neighborhoods etc

The profit is not so outrageous as it has been painted to be.

Daytonbale:
am yet to start

Lol.. Joker, big one.

themountain:

In my area in ph POS now charge 300 naira for 100000 naira. They even write it on their banner. The market has totally crashed. I am now looking for something else to do.

The market has not crashed. I will advise people to avoid those areas where those desperate agents have pitched their tents.

How could 100k withdrawal go for 300? This is a transaction I won't do for less than 2k.

Well, if it's your business, whatever price you set to charge, your loyal customers will come and pay for it. I've always knew market will not give me the kind of profit I wanted when I started.

So, don't go to the market if you want to be making daily good money.

BTW, you don't need any 1M to kick start. I started mine with 150k. God can bear my witness. Don't kill yourself with start up capital. As the business progresses, plough back your profit to the initial capital and you'll be fine.

My advise for you is to set an exit plan from any job that takes the whole of your day.

Do you know what that means? It means it will shut you out completely from the outside world and your life will be limited to just the four walls of the bank and when you leave for home it will be to go and sleep and return back the next day.

You are not allowed to press your phone during working hours and that alone impedes you from numerous opportunities out there.

POS business has been bastardize so if you must do it, I will advise you target any market Or business environment where there will be high need of cash for transactions (don't ever open it in streets) if there is no opportunity in a market or business environment, hold your money jejely and think of another business to venture into.

work to save and invest to be your own boss. There is no future in a banking job especially if you are not well certified... Your job should fund your business start up... If you have a trusted individual that can run your POS business for you, trust in him/her to run it as your side hustle with the banking Job.

Bottom line is, whatever decision you make, will make or teach you... It won't destroy you. Learn from any negatives if at all it occurs


Good luck

Kastonkastroll:
If you have a capital of a million plus with a good location, you might be getting about 200k a month. A brother of mine has like 4 POS shops, dude makes nothing less than 700k a month from all his shops

700k?


Slow down pls

Kastonkastroll:
If you have a capital of a million plus with a good location, you might be getting about 200k a month. A brother of mine has like 4 POS shops, dude makes nothing less than 700k a month from all his shops

Anytime you read "one of my brother/ sister. Uncle or Auntie and one of my friend or one guy for my area " you know say na lie.

As times goes by, the number of pos machine that will be in circulation in Nigeria will be greater than number of customers. The rate at which people venture into pos business. Think about this man.

As times goes by, the number of pos machine that will be in circulation in Nigeria will be greater than number of customers. The rate at which people venture into pos business ehn.Think about this man.

U can start n put someone

Daytonbale:
am yet to start

Daytonbale:
am yet to start

Employ an attendant, pay her between 12-15k per month and then go their after work or when you are free

unite4real:


You are quite correct. But i have yet to see a POS point with so much traffic as to generate 200k profit in a month, considering that every square kilometer, you find up to 15 POS centres even around car wash, eatery, mechanic workshops, spare parts villages , barbing and hair saloon, and in neighborhoods etc

The profit is not so outrageous as it has been painted to be.

What you know is what you know.

People are making it. Many of them might not be on Nairaland and if they're, they might not be disclosing what they make like have said mine here. Of course, some persons are not making money in it.

Kastonkastroll:
If you have a capital of a million plus with a good location, you might be getting about 200k a month. A brother of mine has like 4 POS shops, dude makes nothing less than 700k a month from all his shops

700k too small

Too bad

themountain:

In my area in ph POS now charge 300 naira for 100000 naira. They even write it on their banner. The market has totally crashed. I am now looking for something else to do.

You can earn from both ends. Once your location for the POS is strategic, employ someone, while you focus on banking job, and keep track of the POS transactions.

Resign from your bank job and suffer for the rest of your life

Daytonbale:
Please I don't know which section to post this.
Dear Nairalanders please help me out , I secure a new job in bank in Lagos and the salary is 55,000 per month for a start and they will increase it after three months and from my house to my office is not far is trekkable I don't pay Tp to work.

And I also have a new pos machine that will give me money too I don't know what to do since the bank job Don't give me time to combine the two, my bank working hours is from 7am to 5pm and I can't combine the two .
Please can I resign in the Bank and concentrate with the POS business
or should leave the POS and concentrate with the bank Job .

please help me

A bird in hand, worth more than millions in the Bush according to a popular saying.
You have not even started the POS yet, so you can say how successful it will be.
Try to take a step before the other.
Wishing you all the best

lokoventurex1:

The market has not crashed. I will advise people to avoid those areas where those desperate agents have pitched their tents.

How could 100k withdrawal go for 300? This is a transaction I won't do for less than 2k.

Well, if it's your business, whatever price you set to charge, your loyal customers will come and pay for it. I've always knew market will not give me the kind of profit I wanted when I started.

So, don't go to the market if you want to be making daily good money.

BTW, you don't need any 1M to kick start. I started mine with 150k. God can bear my witness. Don't kill yourself with start up capital. As the business progresses, plough back your profit to the initial capital and you'll be fine.

Bro please I have exactly that 150k that took me years to save and sincerely I need help on that POS. I will appreciate if i can get your number to call or WhatsApp?

...