citypulseng: Quite interesting, Donald. You really did justice to each topic.

I am already looking forward to the next post.

Moderator, why is this not on the front page?

steve 00: Thanks for the info. please were are patiently waiting.

Donald Yusuf: 13 BUSINESSES YOU CAN START WITH MINIMAL CAPITAL

1. FISH FARMING

Fish is the cheapest source of animal protein and because of its low cholesterol level it is medically recommended as a good food for both the young and elderly.

Fish farming in Nigeria is currently a very lucrative business and this is boosted by the continuous rise in the demand for Catfish. It is an Untapped Goldmine waiting for those who can see.
The demand for fish according to the federal department of fisheries (FDF) was 2.1 million tons in 2007 while domestic production was 600,000 tons.

This deficit was partly augmented by massive importation of fish of about 900,000 tons valued at over $800 million dollars. This is a big drawback on our scarce foreign exchange.
This still left a huge deficit of 600,000 tons, hence the concerted effort to ensure self-sufficiency in fish production through aquaculture in Nigeria.

The demand for Fish in the country is currently estimated at about 2.66 million tons annually, as against the local annual production of just 780,000 metric tons, giving a demand-supply gap of about 1.8 million tons. It is very clear that the demand is far higher than supply. What do you see as an entrepreneur? Business opportunity!
According to the Norwegian Ambassador to Nigeria, “Nigeria imports fish especially stock fish from Norway, worth over N109.2 billion Naira ($700million dollars) annually”.

In a May 2012 report, the Chairman of Fisheries Society of Nigeria (FISON) Rivers State chapter, Dr. Awoteinm George revealed that “Nigeria produces just 40 percent of the total Fish consumed in the country”. In other words, a 60 percent local production market is waiting for entrepreneurs to fill.

Aquaculture has been estimated to have the potential of producing 2.5 million tons, which if fully harnessed will almost satisfy the local demand for fish in the country. You could take opportunity of this high demand for fish and start a fish farm today.
This could be that business that would make you a millionaire.

The truth is agro-based businesses are very profitable because they meet man’s basic need-Food. You could start and operate your fish pond right in your backyard, compound or garage. What are you waiting for? Fish and Grow Rich in 2013!

Donald Yusuf: In 2008 when i was in my third year in the university, i and two of my friends started an Orange Juice production business. My friends went to the market (Modern market, Makurdi) and bought an Orange Squeezing machine for N2,500 naira and later bought oranges valued at N500 naira; we then went in search of used bottled water containers.

we got some of these containers, washed them with warm water and left to dry.
We had a space (Boys quarters) in the university's staff quarters; though we had an hostel accommodation, we still reserved this space. This room became our Juice processing factory and we were in business.

We peeled the oranges with knives and squeezed out the juice using the small machine we bought. We were enjoying this!
The juice was poured into a clean container, the peel was packed in a sack. Then we used a sieve to filter the orange juice.

We made our first 10 bottles of small Eva containers. Our target customers were Hotels and Restaurants; We took some bottles to Benue Hotels and 3Ties Booker Restaurant. They sold fast that same day. Wow! business was sweet. We made more bottles the next day and kept it in storage so as to deliver the next day and search for more market. Then the unexpected happened.

We kept our products in a friend's fridge at the College of Health, since we didn't have a fridge of our own. Unfortunately the school power supply developed a fault that day and the University Generator packed up that same day. Our products were already spoiled by the time we removed them from the fridge. A bottle of our fresh juice went for N100 naira, while the big bottle went for N250 naira. We lost a few thousands.

This was nature testing our resolve to be successful entrepreneurs, but we couldn't understand it then, but now we know better. We did what most average people do when faced with setbacks...we gave up.

citypulseng: Quite interesting, Donald. You really did justice to each topic.

I am already looking forward to the next post.

Moderator, why is this not on the front page?

Donald Yusuf: February 2008, the same year my friends and i tried the Orange Juice Production business, we also ventured into Event Planning and Management. This decision was prompted by our desire to replicate the Calabar Carnival in Benue State. We went to a Cybercafe close to the University and did a thorough research on Carnivals around the world; the world's biggest carnival (Rio de Janiero carnival in Brazil), and the Calabar carnival.

We developed an idea for a carnival called "THE BENUE CARNIVAL" with the slogan "OUR BENUE OUR CULTURE". We then developed another idea for a Talent Hunt Competition; we themed it "LET IT OUT". These ideas were the bomb! The next step was to come up with a business name.

Since part of our business plan was to go into full time Corporate event planning and Management, helping individuals and organizations package and deliver an ideal event, we came up with the name "IDEAL EVENTS". We went to CAC to register our new business but unfortunately the name was denied.



































































































































































































































































































OK

We applied for another Availability with the name STYLE events but that one too was also denied. We then decided to remove a letter from IDEAL. We removed 'A', which made it IDEL; We then bought another availability form and filled the name IDEL EVENTS and IDEL EVENTS NIG.

By this time we had already developed our ideas and prepared the proposals...the carnival was to be in conjunction with the state ministry of Culture, while the talent hunt was to be sponsored by the ministry of Youth and Sports.

Time was not on our side, we had wasted two months just to get a business name availability. Knowing that the new availability could take another 2-3 weeks, we decided to ask one of the CAC staff if there was a way to fasten the process.
She told us there was a way. Trust Nigeria!

We paid some money to fasten the process, and within 3 days we got our availability, and our first option 'IDEL events' was available. We then paid the required amount for processing and certificate, and got our certificate the next day.

We went straight ahead to print a sample of the talent hunt poster with the write up "IDEL events in Conjunction with Benue State Ministry of Youth and Sports, Presents BENUE TALENT HUNT SEASON 1" with the theme LET IT OUT. We attached a copy of the poster to our proposal and took to the state secretariat to meet with the Commissioner. We also went with the carnival proposal.

Now, i try to give stories of my personal experiences in the world of entrepreneurship, just to let you know that i practice what i teach. I'm not writing from head knowledge but from experience.

This brings us to our 8th Business Opportunity, Events Planning and Management.
Trust me when i say this business is one of the most Fun filled and profitable small scale businesses any entrepreneur can start.

Ops! I've got to go put some Irish Potato on fire...feel like eating fried potato chips and egg for lunch. I would be back.

akonucheinfo:






Hello, you forgot to tell the disadvantages involved. anyone going into fish farming should know that:
1. you will wait for 4,5-6 month before you tell whether you will make profit or not.
2. your fish may not grow well to the standard market price. Thus, you may even loose your capital in such case
3. stock bad fish ? then you are bound to loose woefully. thats if not all your capital.
4. also note that it needs time
5. the business is not easy

Lastly, am into fish farming too. i started with the notion of reapping millions at my first stocking. but i end up making lost. still into it, cos with time i will stand firm, cos each day i learn new and strategise. dont expect profit like people keep saying!!!!!!!!!!!!! please operators, tell the good and bad side of every business b4 you introduce it to people so they wont ignorantly go in to unwisely.thats my say

Donald Yusuf: Sorry guys for being unable to update this thread for awhile; i have been so busy with business and Church activities. But now I'm back.
Let's continue from where we stopped!

2. MINI-IMPORTATION BUSINESS USING THE INTERNET
0ne business that will make a lot of smart people Millionaires this year, is the business of importing goods into Nigeria right from the comfort of your home using your computer; and if you don't have one you can operate from a Cafe.

This business is simple and the start up capital is very minimal, yet with a high profit margin. you can start this business with as little as 20, 000 naira.

All you need do is to carry out your research so as to know where to buy, what to buy and how to sell your goods.

Where To Import

The internet has made life and business simple, and websites like WWW.Alibaba.com and aliexpress.com has made it easy for smart entrepreneurs to go into the importation business.
It is now possible to buy goods at the comfort of your home working with your computer and get it shipped to you here in Nigeria.

There are lots of items on display on these websites that you can easily import into the country and sell them for good profit.
and don't worry about payment method; thanks to GTB and UBA, you can easily pay for your goods online using the GTB Naira master Card or UBA AfriCard. These cards are accepted on these websites.

What To Buy
There are lots of inexpensive products on display on aliexpress.com that you can import and sell at a hundred percent profit. There are products like jeweleries that go for as low as $2 dollars; you can sell at 1000 naira (which is a give away).

The most important thing is to study your environment to find out what will sell fast, then import small quantity to test the market.

How To Sell Your Imported Goods
A lot of people don't like selling, but ironically life itself is a market place and to survive you've got to sell something; even a job applicant to an organization will have to market his potentials and credentials in order to get the job, and when he is employed he gets paid because he sells his Time and Skills to the organization.

even in a relationship a guy will have to market himself and prove that he (the product) is the best for the girl.
Now selling your imported goods is just simply the application of strategy; there is no effective sales without a good strategy. one very effective sales strategy you could use is to Create a network for your business...create a chain of sellers that will sell your goods at a commission. This strategy will enable you to sell your stuffs fast.