Stats: 3,189,430 members, 7,937,304 topics. Date: Sunday, 01 September 2024 at 08:09 PM |
Nairaland Forum / Nairaland / General / Travel / If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? (35868 Views)
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Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Wodu89: 7:52pm On Aug 21, 2023 |
ednut1: What's our problem with your friends failure. You're in Canada you're judging Nigeria. Peddlers of bad news. I won't argue with you about Canada but you've got nothing to talk about doing business profitably in Nigeria. 12 Likes 1 Share |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by ednut1(m): 8:02pm On Aug 21, 2023 |
Wodu89:i’m doing business in Nigeria. Some you lose . Some you gain. At least in my case i have salary to fall back on. I wont now come here to tell people who have nothing to fall back on to gamble all their money in business they dont even know well 13 Likes 1 Share |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Wodu89: 8:03pm On Aug 21, 2023 |
ednut1: You're doing business in Nigeria and you're telling the whole people who care to listen to you that nothing works in Nigeria. Is it fair to lead astray this way ? 29 Likes 3 Shares |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by ednut1(m): 8:05pm On Aug 21, 2023 |
Karleb:they are mostly inspire to aspire people looking for who to scam or who will give them money for business. A relative that is into a side of real estate don dey cash out tey tey. Don dey complain. Iron rod expensive, cement. Sales don drop too. Completed projects dey ground no buyers. Before people dey rush am . 8 Likes 2 Shares |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Wodu89: 8:07pm On Aug 21, 2023 |
ednut1: Na so Canada but talking as if you're in Nigeria. 2 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by ednut1(m): 8:07pm On Aug 21, 2023 |
Wodu89:you dont know how to read . Keep doing your inspire to aspire 7 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Wodu89: 8:08pm On Aug 21, 2023 |
ednut1: Boss. You're in Canada. Speak Canadian happenings. But don't speak with absolution about things outside your orbits. People are doing business here. From Abuja to Island in Lagos, people are building all sorts of projects. Businesses will fail massively but some won't. But don't pitch an idea that businesses could never be profitable in Nigeria 8 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Olumighty123(m): 8:09pm On Aug 21, 2023 |
Wodu89: Ok fine, share the one you gave to the foreign based whoever, abi ![]() 2 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Wodu89: 8:10pm On Aug 21, 2023 |
Olumighty123: I don't help again. Make we.all dey wicked dey go. Me sef too nor find help here |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by ednut1(m): 8:14pm On Aug 21, 2023 |
Wodu89:I wasn’t talking to you . Like i said if you are not business oriented that 6m no go last 1 year before hot tears enter 11 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Olumighty123(m): 8:17pm On Aug 21, 2023 |
Wodu89: Okay then, fine!!! |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Wodu89: 8:25pm On Aug 21, 2023 |
Olumighty123: As I respect mehn like you and Mr pascal who are positively charged and minded allow me share a few ideas There's a few reasons many big mehn in Nigeria fail in business and when they fail they begin to broadcast their failures discouraging other people. Permit me to share some business views One. A bug man would invest say 20M in a business, make it elaborate then most of the services or goods in that case would retail anywhere between 1M to 10M etc. This is far away from what 80% of consumers would be able to buy. Meaning it's beyond the league of so many people. What this means in the reverse is that the business owner is also deprived of ptsronage of atleast 80% of possible humans it can come.in contact with To then do.business, the Chinese principle.of.modern.day business success applies. Which is invest very large funds in business to.produce extremely low priced items in such a way that it can be produced in bulk as bulk goods sold on a massive scale and bring daily earnings Unlike the big man worried about cements, rods, factory, diesel costs,.engine costs, repairs. This business man doesn't struggle with all these inhibitions. He has the entire country as his potential client because the patronage costs is very cheap. Follow my train of thought So,.when the average Nigerian elite does business, he's thinking big posh and looking up. Because he assumes business is about good looks, the apperanace of being big and big mannism. The other business guy that succeeds looks downwards instead. I.e what can I supply to get so and so that when multiplied across bulk numbers would give me big figures. So, understanding the masses, purchasing power, buyers need, market forces, it's better to go for businesses that offers low priced.items.i.e 100 Naira and then sell so fat in such a way that hundreds of thousands cam be sold than for me to import a nuisance car to sell and make 800,000 Naira profit. So I will never.import equipment cars build big buildings to look big but rather look for how to grab the 100 Naira from the masses and collect it in vast amounts. How do you think Lagos generated IGR and the whole country copied the model As of this year, Seyi Makinde has been collecting 200-400 Naira per day from okada to tricycle. It's what it used in paying salaries of teachers and co in Oyo state. Go and find out So, the key to business is first sustainability before profitability. Many car companies have cars who's colors have tainted because it's not regular. But not for the 100-500 Naira businesses. So with all these I can do these things with 6 Million Naira. 1. Garri Pocessing Mill Wit a garri processing mill, let the farmers do the labour and hard work. I'll just share my contact.once they have for sale I buy. If I'm.crasy enough I can buy at a particular time and leave for two months to increase its size and earn more.income. Now the golden key is not the business but the strategy. I'll simply get sealed.nylons and package the garri in 100 Naira units. If I multiple it in per the quantity I can get per ton. I can scaleup increase my marketing base get Korope to get a marketing team to supply tons of supermarkets, abokis, convenience stores. And with multiplier effects I can take in atleast 20-25 M per annum with the just 6M.investment I've managed businesses for people who kept using me till I stopped so I know my gun 2. Plantain and Potatop chips I can setup automatic deep fryers in an open space. Again get sealable nylons for 100 Naira units and begin to source for.plaints across the entire country. From akwaibom to Bayelsa to Port Harcourt to Edo. I'll buy, the machine washes,peels l, fry's and seals. Simple. I supply aboki. People use fried plantains to replace meats. Go to the trenches.and find out. I've done this before and was raking 10k per day 3. Hibiscus I can bulk buy zobo leaves in bulk per.ton from the north. Setup processing units that will boil, cool, mix and bottle. With preservatives thesedays zobo cam stay up to 20 days supooy across various supermarkets and I make my money 4. Ice block Ice block.consumes diesel but with proper planning there's high prospects for profits. I simply buy a chilling truck produce in large quantities and my driver's drives through cities supplying. The chilling truck preserves it's temperature and as a result, one can be supplying blocks for hours and it won't melt. 5. Drink depot is there This one doesn't need stress Just enter into dealership with beverages companies. They load and.i sell to make 50-100 Naira profits. I buy in mad quantities and make profits I can setup viewing centres with chilling bar and car wash. Entertainers, comedians etc come and I play music use to sell beer pepper soup and boom business is moving. For.goodness sakes.lets.stop.disvrediting this country for heaven sakes. I don't ask for investment I am building myself. But I hate when we critique the country to death 40 Likes 5 Shares |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by PJtech: 8:30pm On Aug 21, 2023 |
Ogwuego go use am carry bitches Streetdoctor that one go use am drink ogogoro |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by IhateRetards: 8:32pm On Aug 21, 2023 |
Wodu89:Mad lowkey seeing some golden ideas to play with from here. 3 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Wodu89: 8:33pm On Aug 21, 2023 |
IhateRetards: I dey come..I'm.about.to scatter the thread with some Jagbajantis 1 Like |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Wodu89: 8:52pm On Aug 21, 2023 |
Hundreds of businesses avails itself in Nigeria. If we talk about the sophisticated ones, we may appear as liars. So let's pitch the very dirty low-key businesses 5 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by soccerlite: 8:52pm On Aug 21, 2023 |
Wickedfacts: I know someone collecting close to 500k at Stanbic that japa You think japa is about money Shallow brain 8 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by soccerlite: 8:54pm On Aug 21, 2023 |
Emphatic yes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Styluss: 9:06pm On Aug 21, 2023 |
Which business can you do with 8 million? Can you help? nkemjacob2: |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Bimpe29: 9:18pm On Aug 21, 2023 |
Japa is the ultimate as you have one thousand and one reasons to justify it. For me personally, I will undoubtedly japa and get a fresh air, reliable and secured livelihood in a saner clime that supports all manner of logical development devoid of agony and hassles as we have it here in Naija. I pray and hope for better Naija but only God knows when that aspirations will come to fruition. 13 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by OgwuEgo: 9:33pm On Aug 21, 2023 |
It's too small PJtech: |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by jesmond3945: 9:46pm On Aug 21, 2023 |
nkemjacob2:buainess in an unstable economy? Do you know that other currencies are more valued in nigeria than the naira? Do you know that nigeria is so dollarized that happenings outside the country affects it more than what happens inside? Let me give you example. In uk, you can never bring any currency other than the pounds, if you do you would pay heavy price for it. I thi k the govt did something like that but the black market in nigeria killed everything. Do you know if i send money to nigeria you only receive dollars then the bank will now buy the dollars from you and give you naira. Is this not stupidity? Is this not killing the naira? How can you do business in such a climate 3 Likes 1 Share |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by benzion72(m): 9:47pm On Aug 21, 2023 |
Continue the process that earn you six million 2 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by MarketDispatch: 10:27pm On Aug 21, 2023 |
Wodu89:It's not about setting up...it's about the staff and scammers that are ready and waiting to finish off the business for you without caring of it's growth and for this Tinubu's period, the finishing is better imagined 2 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by TheFreshVanilla: 10:32pm On Aug 21, 2023 |
❌❌ Wodu89: |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Quenncee: 10:39pm On Aug 21, 2023 |
pascal558:MMM 1 Like |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Wickedfacts: 10:46pm On Aug 21, 2023 |
soccerlite: Who is this fool talking to? Abi craze dey worry your mama. Didn't you see where I said it is employees who are relocating? Or the fellow collecting 500k, is he not an employee? By the way, If not that poverty is entrenched in your lineage, how much is 500k per month sef? 500k is what you see as big money. You're a failure in life. Just so you know, some of us have businesses here and we can't fold ship and relocate. If we do, people like you will suffer. I bought a business last year. Renewable Energy business. The owner relocated to Canada and his technicians were just going anyhow here. The turnover between June 1 and today is enough to pay staff salaries for next 4 years comfortably. Mind you, my regional solar engineers earn more than that 500k you are shouting. Some people are destined to be slaves abroad and all their lives, they are destined to constantly go in search of slavery. 20 Likes 5 Shares |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by Wickedfacts: 10:51pm On Aug 21, 2023 |
ednut1: The richest Nigerians are based here. There is a ceiling as to how much you can make working in your system over there. Here, no limits. I bought a Renewable Energy company from someone who ran off to Canada. He was thinking like you and left his business to his thieving staff here. Got the list of his clients and gave them an offer they can never refuse. Incidentally, Tinubu removed subsidy on petrol. Between June and today, I've made multiple times the previous annual turnover. So, keep your 9-5 in your place but never ever tell down on those running businesses here. That is pure house slave behaviour. 19 Likes 2 Shares |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by online4business: 11:15pm On Aug 21, 2023 |
Wodu89: Stop peddling these half baked ideas. Viewing centres convinent stores pepper soup joint will Fold in less than a year. Do you know how much it takes to pay workers or buy fuel? You probably haven't run a successful business before you sound like professors who knows all the theory but can't practice or produce anything tangible. Reason why businesses fail is employee and management. You want to make profits as a business man what do you think your employee want to do? Anyone that wants to succeed in the present day Nigeria must accept total control of their business Control=responsibility. Don't expect money from people because you gave them advice if them no give you it's YOUR FAULT. you're supposed to charge for your services if there's no agreement then you don't have a case. It seems that should not be the case but it's human nature...You don see thirsty goat wey drink water belle full still stand for river? No they turn their back at the river and walk. This is life eat or get eaten. If you've idea put it to use angel investors no dey Nigeria... Them don die na shylock dey. I'm number one shylock we buy assets that people want to sell cheap because we have cash. Cash is king. 11 Likes 1 Share |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by freddie009(m): 11:17pm On Aug 21, 2023 |
pascal558: Wife go dey here, nah only children them go send after first degree. 2 Likes |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by ednut1(m): 11:26pm On Aug 21, 2023 |
Wickedfacts:the richest Nigerians mostly live abroad. They have houses there all their kids and wives have dual nationality. Where Otedola, adenuga, indimi and co pikin dey live lol. U cut into our and don’t have the full picture. My comment was that someone who is not business inclined going to do business with that 6m will likely lose it given the current economic climate. Good that you made money. What of those that just imported generators or just built petrol stations ![]() 11 Likes 1 Share |
Re: If You Had ₦6M, Would You Japa Or Open A Business In Nigeria? by pascal558(m): 11:28pm On Aug 21, 2023 |
freddie009: Better that way I cos you see that oyibo land, him get one demon when dey am when fit corrupt the incorruptible. And make sure your children are grown and rooted in African ways before they move out.. planning same for my kids too but wifey and I Na visit only for us and this will be after first degree too like you mentioned... Cos I nor want be papa bobrisky 🤣🤣🤣🤣 3 Likes 1 Share |
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