tempex88:
Am here to read and learn. Just be careful. Passion helps in business. What u have passion for will ultimately pay u.

AngryNigerian:
Go for an events/rental biz, depending on your location and risk absorption threshold...

You can delve into fish farming if you are well trained

For the rentals/events mgt, you can start with 30-40 canopies (worth #1mil), 2000 chairs (worth about #1mil), warehouse, truck (about 2.2-2.5mil, which will b going out for haulage biz, while assisting the rental biz).

Invest wisely though...i wish i were in your shoes!!!

auxyn1:
I no longer have a paying job and i am not seeking any
5 million naira is available and that is all i have and all i am worth for nw
A family's survival is dependent on what i do with this fund
beyond just surviving, i wish to create wealth
I seek a business which will guarantee day to day survival
I seek a business which will grow and utimately create wealth.




Please i need tips and clues from only successful nairalanders

Please if you do not have much to contribute, just read and learn

GOD BLESS

ribechi:


Can i have your email? I have concrete business i want to share with you. However, my email is dan.modebe@gmail.com

auxyn1:
thanks but it will be nice if u can share the business here. I'll like to get popular opinion on it b4 we can take it personal

auxyn1:
thanks but are u presently running this business.

Opiosko:
How did you make the 5millions? I have to ask cos i don't like giving advise to scammers and kidnappers.

auxyn1:
I no longer have a paying job and i am not seeking any
5 million naira is available and that is all i have and all i am worth for nw
A family's survival is dependent on what i do with this fund
beyond just surviving, i wish to create wealth
I seek a business which will guarantee day to day survival
I seek a business which will grow and utimately create wealth.




Please i need tips and clues from only successful nairalanders

Please if you do not have much to contribute, just read and learn

GOD BLESS

AngryNigerian:


Yea, i'm running both of them & they pay well! The fish farm is a half-yearly stuff, while the rental/event stuff is weekly on the average. I get bulkier returns from the fish farm, & handle regular expenses with proceeds from the rentals/events outfit...

For an event that need 10 canopies/500 chairs, I get 2500×10 + 30×500 = #40k. Truck charges, mounting & de-mounting = #15k.

TopHand:
Let me first congratulate you on your decision to become self employed it is much more gratifying and rewarding than working for someone, having said that be warned the first two years of setting up can be extremely tasking if you do not plan, prepare and adjust your whole way of life.
you have a decent amount of money 5m is a lot of money so you have the advantages of investing in at least three different kinds of business activity and this will insulate you from the problems of cash flow experienced by people investing in just one kind of business, in short when business/market is slow in one business activity your other businesses will still be bringing in cash, if I were in your shoes I will buy two motorcycles for transportation, you can easily pick up a good used machine for 40k, I know most people are against transportation becos of its associated pitfalls but the fact remains transport is an all season year in year out money machine, it is an hands on business, it will never make you a millionaire but it is low cost and you will always have money in your pocket, this is what you need when you strike out in self employment( transportation begins in two, so whenever one develops fault the other one is still running)
Buy a decent piece of land, something budget in a decent location, this will give you the options to set up any type of business activity ranging from Block making, poultry, fish farming, mechanic shop etc (while you plan what to do just plant corn and vegetable on the land if at the end of the day you do nothing land only appreciate you can resell at a profit).
Open a shop or two depending on what you want to sell if you want to sell bulky heavy stuff than you will need to buy a second hand pickup or a van why? becos if you ask traders dealing in heavy stuff eg cement, agricultural food stuff etc if you ask the trader what is their biggest problem they will tell it is transportation, in the second shop you can import cheap made in china products voltage stabilizers, phone batteries, power banks, good security padlocks, cosmetics etc etc. so my brother the world is in your palm, importation is so easy you can learn it in one day(beware only use a good shipping/courier firm to ferry your products over DO NOT GO FOR CHEAP COMPANIES WITH BAD REPUTATIONS they will frustrate the hell out of you and can wreck your business pls stay away from these useless companies check on NL for clues. finally you have to start recording everything you spend it sounds easy and simple but it is difficult in real life even the ice water you brought you must record, this tool will enable you to plan and budget your money
Good luck

Olucheye:
Good Morning OP,

Business is a very tricky Terrain. No one would as well teach you the "100% RIGHT" things to do just before you venture.
Keeping this at the back of your mind, DO NOT invest more than 50% of whatever amount you have into any Business niche you eventually settle for.

If it turns out to be the right business, with your feet well grounded, You can further take 30% Out of the savings to grow it whilst making profit.
If peradventure the first fails, you would as well have Something to fall back on.

Business Niches to Venture into.........?

How well can you handle risk?
Where are you located?
Are you a techie or late tech adopter?

Regards.

Opiosko:
How did you make the 5millions? I have to ask cos i don't like giving advise to scammers and kidnappers.

auxyn1:
I no longer have a paying job and i am not seeking any
5 million naira is available and that is all i have and all i am worth for nw
A family's survival is dependent on what i do with this fund
beyond just surviving, i wish to create wealth
I seek a business which will guarantee day to day survival
I seek a business which will grow and utimately create wealth.




Please i need tips and clues from only successful nairalanders

Please if you do not have much to contribute, just read and learn

GOD BLESS

Ali01:


Good Morning, Venturing into a Business has a lot to analyze, most especially wen you are un-employed and wanting to get result fast.
Note that everyone will give you his/her own suggestion base on what works for them, but that does not mean it will work for you, because Business needs passion, so if am making money doing what i love what i have passion for, you can not make it if you are forced to do.

am a Programmer, web developer, marketer and Entreprenuer. am doing what i love, running a Tech and marketing Agency company.

so my Advice is, choose what you can do and the source for reliable partners, put effort and success is yours.

Goodluck

holajeedayy:
Op palm kernel business is ok....with 800k u can be making 400k per month how?u set up a factory in a place where raw material is available and stable electricity...u rent land in for 20k,buy new chrusher for 450k old for 350k ,buy dryer for 120k...for now u dont need truck...buy resoueir like 5 .....ok
now u buy raw material which is pkn that gives pko and pkc .
1 ton of pkn is 72k
base on village i enter yestaday
two ton of pkn give a ton of pko and pkc
1 ton of pko is around 210k
1 ton of pkc is around 20k
now the major problem is availability of pkn and experience ppl in which experience is available and ppl from ogun,lagos,ibadan buys pkn here in ondo state ,i have fabricator contact.......there are other trend on nairaland that bustress how lucrative it is ....if u stay in ibadan or around benin there are couple of ppl that started small and ended big that i will direct u to check them ......u can call me 07030842589......u pko and pkc is hot cake .....a refinary is here in akure to absorb your pko,also ......pkc is use to make livestock and animal feed

auxyn1:
thanks a lot for ur advice. I also have strong interest in e-commerce. Though not a technical person in that light, i also conceptualize some nice ideas.

Online based ideas are also welcome. PLS NOT BETTING, NOT FOREX AND NOT BINARY. Thanks

Ali01:

Good! what kind of e-comerce? or what kind of online Ideas do you have?

Any kind of Businesses, from Small, Medium to Big size Businesses, Need Online space to showcase there products.


e-commerce are 2 types.
1: shopping and retails ( for personal products and company)
2 : E-commerce for public and companies:- a General e-commerce for everyone to sell and purchase e.g Olx, Jumia, konga etc..

Do You Need a Break Down of how they all works? E.g the requirements, marketing Strategies, advantages/disadvantages, of each?
I will guiede you here if you wish.

thanks[/b]

Olucheye:


10% - 15% or Half of a Million given your current cash worth.