good moday morning to all Nlander, please your advise is needed for a friend who has N500,000 he's got no accommodation so he's planning on getting himself an accommodation and same time thinking of a business he can go into. a daily peoples demand business. I need advise from good entrepreneur here. God bless u all

well 500 k is a lot of money and its also a little sum it all depends on how your friend wishes to use it.
* on the accommodation basis, your friend should choose a location where he knows that can tally with his income,I think he's single so that's also an edge. in choosing an apartment, get somewhere you know that even if things do get rough as they always do you can still afford to pay your rents.
*on the business basis,I feel he should do a feasibility study on what he wants and,as an entrepreneur you shouldn't expect profit soon,because it's a long time investment plan.put your money where your mouth is.
p.s:prudence is important,and avoid show off.
bless up

If your friend lives in Lagos, he can get a cheap one room apartment in places like Epe. Rent: N5,000 per month multiplied by 6 months, that's N30,000. Agreement fee: N5,000. That's 35k. With 65k he should be able to arrange a mattress, buy utensils and other things to set-up the room. The balance of N400,000 he can use to buy keke for transportation biz. There's no way he'll not make N3,000 per day. If I come up with a better idea, I'll share it here. I wish him success.

FixAm:
good moday morning to all Nlander, please your advise is needed for a friend who has N500,000 he's got no accommodation so he's planning on getting himself an accommodation and same time thinking of a business he can go into. a daily peoples demand business. I need advise from good entrepreneur here. God bless u all

He should save more money and fly out of this country asap.. Nigeria is getting no better now and won't get better later.. Thank me later..

Ochinex:
He should save more money and fly out of this country asap.. Nigeria is getting no better now and won't get better later.. Thank me later..

Fly out to where? To go and do what there?

PatrickOkunima:
If your friend lives in Lagos, he can get a cheap one room apartment in places like Epe. Rent: N5,000 per month multiplied by 6 months, that's N30,000. Agreement fee: N5,000. That's 35k. With 65k he should be able to arrange a mattress, buy utensils and other things to set-up the room. The balance of N400,000 he can use to buy keke for transportation biz. There's no way he'll not make N3,000 per day. If I come up with a better idea, I'll share it here. I wish him success.

This is the best advise..I wish I can get this money, I would have taken this advice.

He should relocate to a rural area and go into agriculture. From there he is good to go

He should get a cheap place like a poster above suggested and look for a company that makes nylon , negotiate with them and start the biz with 200k. He can supply to market women, stores and retailers. He should save 70k for unforseen contingencies and use the remain balance to feed and transport.

FixAm:
good moday morning to all Nlander, please your advise is needed for a friend who has N500,000 he's got no accommodation so he's planning on getting himself an accommodation and same time thinking of a business he can go into. a daily peoples demand business. I need advise from good entrepreneur here. God bless u all

You didn't state his location. However, if he is in Lagos, he can get a room apartment for 5k a month in Orile- Iganmu, it is densely populated for an SME business like Pastries. He can start or employ people that will be baking snacks like puff-puff, buns, doughnut, egg rolls etc and also add akara, yam, potatoes, plantain etc

The business is viable and profitable. I can guide and put him through if need be.

Success!

My advice: after getting cheap accomodation he should go into a business with minimal capital investment (investments like store rent, machines that will not yield immediate profit) and more of commerce (buying and selling). Theres a lot of risk in starting form the ground up so he should buy and sell. That way he can quickly liquefy his capital when needed and diversify into other profitable opportunities that spring up

My advice: after getting cheap accomodation he should go into a business with minimal capital investment (investments like store rent, machines that will not yield immediate profit) and more of commerce (buying and selling). Theres a lot of risk in starting form the ground up so he should buy and sell. That way he can quickly liquefy his capital when needed and diversify into other profitable opportunities that spring up.