Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,193,221 members, 7,950,231 topics. Date: Monday, 16 September 2024 at 10:47 AM |
Nairaland Forum / Nairaland / General / Business / A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M (19637 Views)
How Much Is Needed To Open A Standard Barbing Salon? / Hi Guys Is 1m Naira Okay To Start A Poultry Farm Or I Should Travel Out / Chinese Supermarket In Abuja Where Nigerians Are Not Allowed Access (2) (3) (4)
(1) (2) (3) (4) (5) (Reply) (Go Down)
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by EBRAHIMJAY(m): 11:04am On Aug 10, 2016 |
seek advice from those who are already in the business also consider the location. |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by haibe(m): 11:05am On Aug 10, 2016 |
Just consider the risks associated with both businesses and do a cost and benefit analysis. Also seek advises specifically from experts in both businesses. Make sure you consider a good location too, especially for the supermarket 1 Like |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by Iamsolslim(m): 11:05am On Aug 10, 2016 |
FIDELITY24: pls me too @ hammedosalawudeen@gmail.com. thanks |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by osinachi82: 11:06am On Aug 10, 2016 |
I did a minisupermaket with same amount in January, store still looks like there's nothing in it. also daily return is not what I anticipated. thought I would make an average 50k sales weekly, not so and am on a road in a good location. competition is also much in that line. since I have taken this road, if I have a million to invest again i'd try the salon. 3 Likes |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by babatunde31: 11:06am On Aug 10, 2016 |
Standard Salon with a viewing Centre beside it that will also bring good cash, and location matters... 1 Like |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by IDEKEALUMONA(m): 11:07am On Aug 10, 2016 |
1million naira cannot start a supermarket,the money will finish on accommation and counter. It can hardly start a decent roadside provision store 4 Likes |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by Shome36(m): 11:07am On Aug 10, 2016 |
It defends on the environment you are in Brother..... I suggest you do SWOT (Strengths Weaknesses Opportunities and Threats) analysis of your environment before venturing into any of the two. may God guide and help you 3 Likes |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by victorazy(m): 11:10am On Aug 10, 2016 |
N1m has no business in super market unless kiosk but can set up men barbing salon only. |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by udy4real(m): 11:10am On Aug 10, 2016 |
What did d guy above me say? |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by OBAGADAFFI: 11:14am On Aug 10, 2016 |
jeffcheddy: You dont need to hire barbers and stylist, Give the barbers and stylist space in your salon and negotiate how much they are going to pay you weekly. Warning: this is not the right time to go into supermarkt business, because prices of items are increasing and changing everyday, and consumers are keeping their money. 17 Likes 2 Shares |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by babandada: 11:15am On Aug 10, 2016 |
Pls.. Don't try opening a barber's shop oooo. Mofi ori iya e be.. THEY WILL NEVER TELL YOU THEY BARB HAIR. Those guys will chop you dry. Except you want to know how to barb and do it yourself. Those barbers are not considerate at all, to them they are doing you favour. THEY will milk you dry, spoil your equipment, ruin your hard earn investment, leave your shop and join another barber shop in the neighborhood. They rugs and all their allays are rugs. Please stay CLEAR. supermarket is the best. you can monitor that one, with good stock mgt skill you are good to go. you count stocks and reconcile against sales proceeds 2 Likes |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by 400billionman: 11:16am On Aug 10, 2016 |
jeffcheddy: As someone who has studied over 8 businesses and running about 4, i can tell u that some businesses can swallow your capital gradually until it dissappears completely. Eg. Supermarket. A bad staff can do that for you. For barbing saloon, after equipping it, you hand it over to a barber who will balance you money on daily or weekly basis. Weekly basis preferably. Location matters... 1 Like |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by Gkemz: 11:16am On Aug 10, 2016 |
Think twice before venturing into any of these businesses. Try to learn them from those who have been doing it so as to have full and comprehensive knowledge of the trade. The barbing business is good but you have to learn and master how to barb. The supermarket is also good but you still need to attach yourself to an already established ones to understand the rudiments of the business. |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by uzedo1(m): 11:17am On Aug 10, 2016 |
Its a two way thing. In a Salon business, its not everyday you cut/barb someone's hair, except the place where the salon is located is a busy area but they are sometimes business will just be dormant, and vise-versa. While the supermarket it depends what you sell in it. If you can carry out an indept survey, you will see that the thriving supermarket put in lots of money so as to get more. However, opening a supermarket will cost more than a million naira. If you can add pharmaceutical product to it, then you will make it. In addition, since you don't know how to cut hair, the barbers you will employ will or might be lackadaisical towards work, since its not there own business. In conclusion, location really matters if you want to benefit from any of the aforementioned business. |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by femadesh(m): 11:17am On Aug 10, 2016 |
Mini importations Weekly income |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by OBAGADAFFI: 11:20am On Aug 10, 2016 |
babandada: Must Salons i know dont hire barbers and stylist. The barbers and stylist rent space in the saloon, and bring their equipment to work. They must pay their rentals weekly whether they work or not. 3 Likes |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by yohannazack(m): 11:22am On Aug 10, 2016 |
Go for salon, its pays better. There's a way you can run the business that you have little or nothing to be scared of. You can call 08098192390 for further enquiry 1 Like |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by Bamz(m): 11:24am On Aug 10, 2016 |
haibe: Spoken like a true project manager. The CBA may include analysis of how the ROI would be in future years. This will be gotten from historical information provided by SMEs in the business. 1 Like |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by bellville: 11:24am On Aug 10, 2016 |
Please learn how to barb. You should learn in about 3 months max. jeffcheddy: 1 Like |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by chimoskyg(m): 11:24am On Aug 10, 2016 |
jeffcheddy: You have to know how to barb oo or they will toy around wit the buz. Am on same too |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by Bamz(m): 11:29am On Aug 10, 2016 |
OBAGADAFFI: This is a good idea as well similar to what's obtainable at Next, Abule Oja, Lagos but the op needs to get a big space for this. |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by OBAGADAFFI: 11:33am On Aug 10, 2016 |
jeffcheddy: As prices of goods are rising everyday the to forex issues, and government policies, it will be dangerous run supermarket business. Go for saloon business. Don't employ barbers and stylist, just furnish and get regular electricity(GEN). Allow these barbers and stylist rent a space in your salon and must pay you weekly fixed fee, irrespective of how they work. Its advisable to get an Experienced/Trustworthy barber and stylist to supervise them. 2 Likes |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by OBAGADAFFI: 11:39am On Aug 10, 2016 |
Bamz: It's a common trend all over Lagos. Most of these barbers and stylist just need space, which any smart entrepreneur can provide. The same model is used in the Movie: The barbers shop 3 3 Likes |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by skydancer: 11:39am On Aug 10, 2016 |
I will tell you a secret. If you want high profit margins, go into fertilizer productions business. You can start a clean one with 1m and be making up to 700k profit/month within your 6th month. 1 Like |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by boykas(m): 11:40am On Aug 10, 2016 |
prepees: Am interested also Kasaliahmed13@yahoo.co.uk |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by femi4: 11:42am On Aug 10, 2016 |
jeffcheddy:Supermarket food will have to compete with local market price. Also remember that goods at the supermarket do have expiring date |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by Eazybay(m): 11:43am On Aug 10, 2016 |
You can deal in shoes and bags. If you are serious and honest you would make a NAME for urself. Check my signature |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by Ihavespoken: 11:43am On Aug 10, 2016 |
This depends on your ability and skill. A salon is open for income from 12pm to 10 pm ie 10 hours a day while supermarket run from 8am to 9pm Ie 13 hours a day depending on location. |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by careercrew1: 11:47am On Aug 10, 2016 |
jeffcheddy:Hello Jeff, I have written a similar article on businesses you can start with almost same amount. Read here: www.careercrew..com/2016/06/5-businesses-you-can-start-with-just.html?m=0 You can also follow me on twitter for more info on how to run your business and career development. ..I follow back too.. Check my profile for my twitter handle. |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by LaserFocus: 11:47am On Aug 10, 2016 |
jeffcheddy: SUPERMARKET please and you have already stated the reason why. It offers people's daily needs and you're sure to sell every single day. Just get a good location and make sure you stock up continuously. |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by kucky: 11:47am On Aug 10, 2016 |
olabamiji09:l |
Re: A Medium Sized Supermarket Or A Standard Men's Salon? My Budget Is 1M by fuke(m): 11:48am On Aug 10, 2016 |
Im is too small for a supermarket with the cost of goods unless you are thinking of a corner shop. As for saloon, where are you establishing, how much per head, then what are you adding again. Go learn the trade first and stay there always. People can be smart 1 Like |
Konga Cancels Pay On Delivery Option. / Dollar Debts: CBN Repays Banks Next Week, Naira May Rebound / Let's Meet Inside If U Want To Learn How To Start Importing Easily From USA & UK
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 44 |