FuckAllTheMODs:
Using my other account to answer this question would have been better because I have a topic similar to this on it.
Reason being I once posted a topoc that hit the fp on how I can start a business with 200k last year or early this year, can't really remember sha.

Funny thing is that 200k x 2 is not even upto the money I spent in renting(the landlord insisted on a 4 years rent) and putting the shop in place for use.

I had a big challenge after setting up the shop for use, I already touched my business capital. Mehn, it gave me sleepless nights.

Little did I know God had a bigger and better plan for me.

In comparison to my earlier budget of 200k, what I have spent is in the million range.

It was made possible by God and my loved ones(family members and relatives).

Fast forward to this year, I started my business in October this year and it has been going well, although there are challenges e.g finance(money no dey do man)

Before I forget, about the profitability part, I can't say anything on that because any money I have I always use it to stock up for now, but it sure have profit.

Maybe with time I will start seeing the profit.

Which business are you into so that people can venture into that as well?

Mekudi:
I'm a graphic designer, I used to create whatsapp & telegram group where I teach people how to design and I also make cool money from designing for people
POS & Selling gas ,i stop selling on credit since the day a customer raised her voice on me for asking her about my #600(2kg) that she refused to pay for almost 2 months, she said is it because of #600 I'm sending her kids to remind her of the debt. She still haven't pay me till today and I'm sure she as been using gas to cook ,some will buy gas from me on credit and when it's time for them to pay they'll say the gas doesn't last that1kg supposed to last them for 2weeks but it only last them for 4 days bla bla bla , they'll say na only Noddles they cook , they'll end up not paying or pay reluctantly,they are many like that, when they have cash they go to another shop ,when they want credit , they'll come to my shop
The day I stopped selling on credit , debtor's have stopped coming to my shop and I have been having savings and profit

On my POS ,Some will do fake transfer to my acc, rushing me to give them cash ,I won't release cash untill I confirm the credit on my bank app,some close neighbor will come and drop Thier ATM on my desk that their kid is sick and they needed cash ( 2k-5k) , they'll say their husband have send them money but it hasn't reflect in their acc or they are expecting money from a debtor, family or friends asking me to give them the cash and withdraw it later on their ATM card when money get to the card , I'll reject such, Some people have stopped greeting me cus of that.they said I'm too strict . If my business ruin na them go still mock me behind

keep being strict. That is how your business is going to last long. Fvck business wreckers !

kingralph:
Ehinmowo you did not answer nanaoju's question. Is there regular funding for the business till it becomes profitable?

Majority of Nigerians don't know how to answer simple question

jaelz:
Sup guys.

So I decided to share with you how I started my shoe business and how I was able to grow it to profitability, so I started out in 2016 by hiring a shoe maker and renting a shop, then I started engaging massively in social media marketing in 2017 and that was when the big break came for me. As we speak have sold over 1,700 pairs of shoes and the proceeds is what has been keeping me.

So guys lets help others know how we started and grew our business to profitability.

Nice one bro. are you sure, you aren't one of those exporting thousands of pairs of shoes all over the country from Aba.

Aba is blessed, come and see people loading hundreds of thousands of shoes on containers last night.

You can invest your money in Agro allied bussinesses like poultry. Either meat or egg production or you can as well run both. Agriculture is going to be the next big thing next year. Prices of food items is going up. Hunger 2021. Invest in agriculture

Paxxcarl:
what business can i venture into to be earning 300k monthly from a capital of 3million naira
i have been buying real estates land and i’m down to my last 4million

ecomalchemist:
after brainstorming for 20 minutes.

Remember that the goal is to make daily income / passive income #NOSALARYGANG.

As time goes on i'd be sharing other business ventures I'm into, you can start something from here and build it up. You don't need anything fancy, you are in a 3rd world country...always remember that.

So let's get to it.

Keep that money.....refer to number 5, then pay your tithe to me later


1. Pure water business
get a shop with 2 solid dressers, Go to the factory and buy @ the rate of N70. Resell at the rate of 120 - 150 per bag. Supply to schools, churches, individuals...if you sell 200 bags a day, do the math.

2. POS business, (operate in a busy area but close early, e get why). This can be successfully combined with number 1. Contact baxibox.com and surepaddy (providus bank), they will put you through and supply you with the necessary hardware you need for the business... If you are starting out, you necessarily do not need a shop per se...just talk to your local carpenter to construct a small kiosk in a busy environment.

3. Biscuit business (no matter how economy be, people go chop biscuit)

4. Condom business (supply hotels and guest house across the federation)..as religious as we are as a nation we fucc like no mans business, the population keeps SOARING...

5. Local arbitrage (enter eko, look for fast moving products.strike a deal with the seller that you want to be a dropshipper..invest in a good camera phone and apps like lightroom and snapseed, join facebook 'buy and sell groups' facebook has 22M nigerians, just fucking sell something.. create fb / ig / whatsapp business / twitter / nairaland and advertise like your life depends on it).if you want to make 100k daily you need to learn facebook and instagram marketing..LOW RISK

Go here to learn Facebook marketing > trafficmastery ng. Work smart, not hard !

3. Resturant / bar & bushmeat join...during my nysc there's this joint I usually visited to drink mmanya (palmwine) or whatever its called. I spend at least 1k drinking palmy and bushmeat.

4. Foodstuff business (buy from the north, sell in the west)

5. Small chops / akara / yam / potatoes...mama chinedu don build 2 houses, she's on the third one as we speak.

6. Mini importation, this is very tricky due to the forex rate and all the bottlenecks but i will teach you how you can pass this hurdle in my next posts.

7. importation of gadgets / Phone accessories / used items... WhatsApp me for the free guide..

8. Data vending business...goto https://mobilenig.com/?ref=97 get cheap dirt data, pay bills and airtime. This business can be combined with Number 1 & 2...all you need is a mobile phone and internet connection, ATM card (GTB..most preferrable for this jab). Use jBL speakers, just dey play latest gbedu dey go..people will come around to patronize you..
I made over 300k doing this, I still dey do am sha..lol

If you want to take it online...get a good graphics designer to design something like 'BUHARI DATA SERVICES' with data prices and services u render ...lmao..u get my drift sha...then come online and start bombing...facebook...instagram...twitter..nairaland...telegram...

9. Selling of used items on jiji, nairaland, facebook market place and Olist...that your neighbour has items he has not been using for sometime...use style and ask him....take clear pictures in a nice background and upload it, out your price...your phone would start beeping from phone calls

10. DROPSHIPPING (millionaire's paradise)

Please comment and share, thank you.

ALWAYS REMEMBER THAT THE FIGHT IS AGAINST POVERTY.
#JEKINGBADUNLOMAGBADUN#

number 4 all d way!

PotatoSalad:
I used to believe that if I ask I shall receive. Kinda a saying for a lazy man. Didn't put much effort into my business. Had just a business plan. Needed 6m capital. Visited about 10 very rich men (Exercise in futility). Maybe cos I didn't visit them with media crew for publicity. Besides I was just a young lad with a plan.
After all my efforts yielded no water, I went back to the table with one thing in mind (work harder, smarter and Bleep everyone). Moved to a new city and kept applying new techniques everyday till it paid off.
I don't know how that happened but it took years.

You just wrote rubbish.What's the business type so that people can emulate you.

mehn,e no easy for me,,I start phone accessories business this October for university environment to now no student Population,the few that are around Its either I don't have what they have or I'm there last resort because of my competitors around,I don't even have a generator to attract engineers or ppl dat wantu charge fone.i just de depressed,I d find loan I cash or goods honestly..noby wetin I expect I d see

JayDaily:
well let me answer this.

Had a relation who was lost so much, he was a *siful safant*...
small circle.

Bros, can we reason together? Help with your contact/email??

ekwuemendinso:

Bros, can we reason together? Help with your contact/email??

send me a on bro

JayDaily:
well let me answer this.

Had a relation who was so much into sports betting, lost so much, he was a *siful safant*...

as soon as his salary drops, uncle has a sure game already...

before you know, few days after salary, he quarreling with his family and every one, due to frustration, he was almost always bitter.

Along the line he met a guy in a viewing center around GRA ph. they got talking and got acquainted and that was it.

Guy was a full time into sports and making good off it.

Carried uncle siful safant along and with time, there was changes.

soon Uncle wasn't bitter anymore and everyone was happy with his new self.

I met him in 2015 to show me the way, and he kept me hanging till 2016.

2016 January I almost killed him with disturbance because it wasn't easy for me then.

uncle told me what's up, ask for a 100k capital which I provided and that was it.

along 2017, a strategy was discovered, which we imputed into the system and today we are making more.


so 3 years down the line by Devine grace I'm now contented.

so it hasn't been easy but there's certainly no regrets today.

PS.

Im not promoting this because it can be huge loss when you don't know what you doing.

this has now been a full time business to me and our small circle.

how many odds do you play a day,I play 2odds with 5k daily while 4odds with 10k wknd.....my win is more than lose,like I make up to 50k a month after my losses and expenses....

Kalaba:

Congrats man.
I run Google ads, Facebook, twitter, instagram, LinkedIn and YouTube ads. Please contact me when next you need to run an add or any SEO services on your website

can I learn and start making money with phone...I don have PC?

IamHonourable1:



Which business are you into so that people can venture into that as well?

You can't just venture into it without prior knowledge or experience.

And again, it is capital intensive.

Fantazy:


Let me work with/for you na
I'm a good photo and video editor

. Boss . Thanks for the offer. I'm good for now sir. Bless up...

JayDaily:


send me a on bro

Done, and I have also chatted u on WhatsApp, somehow, I got your WhatsApp number

Oktane:


My post may be a bit long but I hope you learn something from it ....no matter how small.

I think your expectations are a bit too steep for someone who wants to embark on a totally fresh path. You talking 10% monthly reward here. While this isn't impossible it most definitely will be a rare feat.

If on the other hand you are investing in the expansion of an already existing business that is making some form of profit then 10% or even more is very practicable.

My suggestion is that you should use like 500k of that money and create a trading business with particular emphasis on something that sells everyday. Trust me several products abound. Most of these products can give you 10% profit per sale and you can turnaround your capital several tines per week.

Right here on Nairaland there are several accounts of businesses that are doing very well. Most of these businesses are not the type that the typical Nigerian graduate will be proud of....and yet they are money spinners.

Some years ago, I employed an ex-banker in my company and only did this for sentimental reasons. He was a poor fit from day one. So I told him that I will allow him six months after which I will terminate. I then advised that he seek out what he intends to do when he leaves me. The man came up with very utopian and impracticable ideas. I just kept telling him to keep it simple. I nudged him in the direction of eggs distribution and he kept resisting his reason being that it is degrading. I even introduced him to Nairaland where a thread by one Blacky provided a detailed guide on eggs distribution.

To cut the long story short, he was swept off high horse last year and he embarked on eggs sales in December 2019. It's amazing that in just one year he is doing very well with a weekly turnover of 1.5 Million with his net profit being about 5% of that amount. What more could be ask for?

I am not advising you to go into eggs sir. I am however suggesting that you look at different FMCG options and choose one that people must buy everyday. Modify how it is being done by the majority and then begin to smile daily to the bank.

There is one I keep looking at everyday and I am just wondering how I can approach it. It's a simple model, fast moving product, 10% daily profit, minimal risk potential and very importantly it has a very affordable start out requirement. To crown it all I am reading a particular thread about it here on Nairaland and the OP is the best.

Do you mind sharing a link to that thread you mentioned. God bless you.

wisdomiskey:
I'm yet to see any useful tips
People are generally greedy when it comes to sharing their secrets of success.

No secret to success.... Its hardwork, constitency, focus and determination

H

ehinmowo:


If your question is an attempt to decide whether resigning would be good idea or bad one, forget it. My letter is ready.

Even if the business doesn't come out as expected, may God never make me see things that would make me go back to 8-5

I will follow suit

Mekudi:
I'm a graphic designer, I used to create whatsapp & telegram group where I teach people how to design and I also make cool money from designing for people
POS & Selling gas ,i stop selling on credit since the day a customer raised her voice on me for asking her about my #600(2kg) that she refused to pay for almost 2 months, she said is it because of #600 I'm sending her kids to remind her of the debt. She still haven't pay me till today and I'm sure she as been using gas to cook ,some will buy gas from me on credit and when it's time for them to pay they'll say the gas doesn't last that1kg supposed to last them for 2weeks but it only last them for 4 days bla bla bla , they'll say na only Noddles they cook , they'll end up not paying or pay reluctantly,they are many like that, when they have cash they go to another shop ,when they want credit , they'll come to my shop
The day I stopped selling on credit , debtor's have stopped coming to my shop and I have been having savings and profit

On my POS ,Some will do fake transfer to my acc, rushing me to give them cash ,I won't release cash untill I confirm the credit on my bank app,some close neighbor will come and drop Thier ATM on my desk that their kid is sick and they needed cash ( 2k-5k) , they'll say their husband have send them money but it hasn't reflect in their acc or they are expecting money from a debtor, family or friends asking me to give them the cash and withdraw it later on their ATM card when money get to the card , I'll reject such, Some people have stopped greeting me cus of that.they said I'm too strict . If my business ruin na them go still mock me behind

Some strange guys will come to my shop to withdraw 200k and above and if I charge them 5k ,they will oblige(why can't they go to ATM stand) , I'll then tell them I'll snap them with them posing with the ATM card and request for Thier ID , they'll decline, I'll tell them to patronise another POS , what If the ATM card is a stolen card , I'll be the one to be in trouble while the guy that come to withdraw will be no where to be found . But if it's someone I know very well, I'll give him cash once I know he is my regular customer and he/ she owns the ATM card

Bros can I get your whatsapp I need to inquire somethings from you. Or you can chat me up with my number on my signature thanks

uthlaw:
can I learn and start making money with phone...I don have PC?

Yes you can, but there's a limitation especially when it gets to SEO

ehinmowo:


If your question is an attempt to decide whether resigning would be good idea or bad one, forget it. My letter is ready.

Even if the business doesn't come out as expected, may God never make me see things that would make me go back to 8-5

what is 8-5 job? sorry for asking I just wanna know

FuckAllTheMODs:
Using my other account to answer this question would have been better because I have a topic similar to this on it.
Reason being I once posted a topoc that hit the fp on how I can start a business with 200k last year or early this year, can't really remember sha.

Funny thing is that 200k x 2 is not even upto the money I spent in renting(the landlord insisted on a 4 years rent) and putting the shop in place for use.

I had a big challenge after setting up the shop for use, I already touched my business capital. Mehn, it gave me sleepless nights.

Little did I know God had a bigger and better plan for me.

In comparison to my earlier budget of 200k, what I have spent is in the million range.

It was made possible by God and my loved ones(family members and relatives).

Fast forward to this year, I started my business in October this year and it has been going well, although there are challenges e.g finance(money no dey do man)

Before I forget, about the profitability part, I can't say anything on that because any money I have I always use it to stock up for now, but it sure have profit.

Maybe with time I will start seeing the profit.

oga ur business no get name?

Start a gas plant or a betting center

Paxxcarl:
what business can i venture into to be earning 300k monthly from a capital of 3million naira
i have been buying real estates land and i’m down to my last 4million

Mine is not actually business but freelanceing.

I quit my job as a solar engineer and started programming
I learnt programming January 2017, I didn't spend money on a school, just data and youtube. I also had great mentors because it wasn't easy. 6 months later I got into Andela as an intern and that was it.
An intern then was earning about a 100k, the good thing about Andela is that you can freelance while you do your 9-5 job, I was freelancing with Codementor and Upwork.
2 years coding professionally, I was able to earn from my 9-5 job and freelancing amounting to about 500k monthly.
I left my company around April to focus on freelancing, then covid struck, it affected everyone. I was jobless till October before I got a Job with a US firm that pays $31/hour, 40 hours a week.

The good thing about been a programmer is you can work anytime of the day, the market is not limited to nigeria as you can find job in anywhere in the world while working from home and finally you paid in dollars.

I don't know if this information is about business but I think everyone cannot do business. Besides Business is not limited to buying and selling, a skill you have can also do that, the most important thing is your bringing food to the table

Kalaba:

Congrats man.
I run Google ads, Facebook, twitter, instagram, LinkedIn and YouTube ads. Please contact me when next you need to run an add or any SEO services on your website

ur contact

post=97320702:


Are you a man or woman

Check my moniker

Charpell:
Mine is not actually business but freelanceing.

I quit my job as a solar engineer and started programming
I learnt programming January 2017, I didn't spend money on a school, just data and youtube. I also had great mentors because it wasn't easy. 6 months later I got into Andela as an intern and that was it.
An intern then was earning about a 100k, the good thing about Andela is that you can freelance while you do your 9-5 job, I was freelancing with Codementor and Upwork.
2 years coding professionally, I was able to earn from my 9-5 job and freelancing amounting to about 500k monthly.
I left my company around April to focus on freelancing, then covid struck, it affected everyone. I was jobless till October before I got a Job with a US firm that pays $31/hour, 40 hours a week.

The good thing about been a programmer is you can work anytime of the day, the market is not limited to nigeria as you can find job in anywhere in the world while working from home and finally you paid in dollars.

I don't know if this information is about business but I think everyone cannot do business. Besides Business is not limited to buying and selling, a skill you have can also do that, the most important thing is your bringing food to the table

Quick questions.

1. Whats your stack? And if you were to change, what stack would it be.

2. You mean you earn $31/hr remotely here in Nigeria!! Wow

3. I'm considering enrolling to Stutern Graduate accelerator. Do you think its worth it.

Please reply My DM.

Oktane:


My post may be a bit long but I hope you learn something from it ....no matter how small.

I think your expectations are a bit too steep for someone who wants to embark on a totally fresh path. You talking 10% monthly reward here. While this isn't impossible it most definitely will be a rare feat.

If on the other hand you are investing in the expansion of an already existing business that is making some form of profit then 10% or even more is very practicable.

My suggestion is that you should use like 500k of that money and create a trading business with particular emphasis on something that sells everyday. Trust me several products abound. Most of these products can give you 10% profit per sale and you can turnaround your capital several tines per week.

Right here on Nairaland there are several accounts of businesses that are doing very well. Most of these businesses are not the type that the typical Nigerian graduate will be proud of....and yet they are money spinners.

Some years ago, I employed an ex-banker in my company and only did this for sentimental reasons. He was a poor fit from day one. So I told him that I will allow him six months after which I will terminate. I then advised that he seek out what he intends to do when he leaves me. The man came up with very utopian and impracticable ideas. I just kept telling him to keep it simple. I nudged him in the direction of eggs distribution and he kept resisting his reason being that it is degrading. I even introduced him to Nairaland where a thread by one Blacky provided a detailed guide on eggs distribution.

To cut the long story short, he was swept off high horse last year and he embarked on eggs sales in December 2019. It's amazing that in just one year he is doing very well with a weekly turnover of 1.5 Million with his net profit being about 5% of that amount. What more could be ask for?

I am not advising you to go into eggs sir. I am however suggesting that you look at different FMCG options and choose one that people must buy everyday. Modify how it is being done by the majority and then begin to smile daily to the bank.

There is one I keep looking at everyday and I am just wondering how I can approach it. It's a simple model, fast moving product, 10% daily profit, minimal risk potential and very importantly it has a very affordable start out requirement. To crown it all I am reading a particular thread about it here on Nairaland and the OP is the best.

good afternoon sir, I love ur ideas. can I send you a dm?

Dpharisee:
I am combining my business with 8-5 job and it has not been easy, my staff have made every effort to frustrate me, that's the greatest problem of business in Nigeria (getting trustworthy personell).
I have had to change staff at different times still they are not sincere, they just want to cheat the system even though I don't delay salary by even a day and I can't quit my job now to stay in the shop permanently.
I even engaged my brother to run the business it became worse as he won't give proper record, telling me how he sold on credit to customers and he started living large.

If you are not the one running the business directly day to day or don't have a strict line of control as a medium range organisation it's not very advisable to venture into it.

What kind of business are u into bro