we are fifty,my friends and i, we agreed to be saving 10,000 each,every month for the period of one year,after which we will sit down and come up with the type of business we should start.
it has been 10months now and at the end our saving will be 6million, and am the chairman of the committee, although my decision about the business we are to start is not final, because everyone of us is expected to bring a business idea, but i have started wondering what type of business should i suggest to my friends, is the amount enough to start a small company?
pls i need advise,from people with experience and experts in business planning. thank you.

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Dejiolaniyi:
How many people here wishes to make mega million thru football bet with this group.
Like next weekend we have fixed games to be played and earn us good cash.
○ Hello everyone ! Matches of 06.06.2015 are active
○ Tip : 2/X + 1/X
○ Odd : 425:00
○ Safe : 100% Fixed matches , no chance to lose !
Imagine you stake with $10 you will make $4,250 cash cool money.
If you will like to play the game add me straight to your whatsapp on +2348166717408 and request to join our special mega Millions group.
Please it's totally free. But we must be up to 100 before games are shared .
A lot of benefits is attached to this golden opportunity. Don't miss out.

people's savings and u are advising them to bet with it?

Dejiolaniyi:
How many people here wishes to make mega million thru football bet with this group.
Like next weekend we have fixed games to be played and earn us good cash.
○ Hello everyone ! Matches of 06.06.2015 are active
○ Tip : 2/X + 1/X
○ Odd : 425:00
○ Safe : 100% Fixed matches , no chance to lose !
Imagine you stake with $10 you will make $4,250 cash cool money.
If you will like to play the game add me straight to your whatsapp on +2348166717408 and request to join our special mega Millions group.
Please it's totally free. But we must be up to 100 before games are shared .
A lot of benefits is attached to this golden opportunity. Don't miss out.

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Wow u guyz really have a good idea but der is anoda challenge cos 50people no be beans oh.....
but I will get back to u!!!

Ignore anything betting group and co they are all scammers pls pretend as if u didn't see them..

clintino700:
Wow u guyz really have a good idea but der is anoda challenge cos 50people no be beans oh.....
but I will get back to u!!!

Ignore anything betting group and co they are all scammers pls pretend as if u didn't see them..

thank you,

Dejiolaniyi:
How many people here wishes to make mega million thru football bet with this group.
Like next weekend we have fixed games to be played and earn us good cash.
○ Hello everyone ! Matches of 06.06.2015 are active
○ Tip : 2/X + 1/X
○ Odd : 425:00
○ Safe : 100% Fixed matches , no chance to lose !
Imagine you stake with $10 you will make $4,250 cash cool money.
If you will like to play the game add me straight to your whatsapp on +2348166717408 and request to join our special mega Millions group.
Please it's totally free. But we must be up to 100 before games are shared .
A lot of benefits is attached to this golden opportunity. Don't miss out.

we are not desperate, or get rich quick guys, we need a real/physical business with a steady reasonable flow of cash even if its small

Start a school.

u guyz should invest in real estate, buy rental properties or lands...email me, 2 get info on profitable properties 2 buy...ezoesanig.ltd@gmail.com

You guys would have contributed N120,000.00 each by December ending, other things being equal.
I stated the above so that each investor would look at that amount and seek returns as such instead of looking at return on N6m.

Can you guys go into DO IT YOURSELF TRANSPORTATION?
Interested members would part with his or her employment, agreement would be reached among members to factor in these drivers allowance into the operational cost of the vehicles. The profit would be paid into a company account where trusted members are signatories. You guys can share proceeds as agreed by you. Your normal contribution can also still continue. In 5 years, if greed and unnecessary suspicions are avoided, your transport company can become a house hold name in your chosen locations.

ezoesa:
u guyz should invest in real estate, buy rental properties or lands...email me, 2 get info on profitable properties 2 buy...ezoesanig.ltd@gmail.com

investing in real estate,with this small amount, will lead to capital being tied down. Real estate need big amount of capital.thanks for your contribution anyway.

Etfash:
You guys would have contributed N120,000.00 each by December ending, other things being equal.
I stated the above so that each investor would look at that amount and seek returns as such instead of looking at return on N6m.

Can you guys go into DO IT YOURSELF TRANSPORTATION?
Interested members would part with his or her employment, agreement would be reached among members to factor in these drivers allowance into the operational cost of the vehicles. The profit would be paid into a company account where trusted members are signatories. You guys can share proceeds as agreed by you. Your normal contribution can also still continue. In 5 years, if greed and unnecessary suspicions are avoided, your transport company can become a house hold name in your chosen locations.

i thought of transportation too, but the prblm is, the number of buses we should start with,is this amount enough to buy,say five(new)buses?

our target is 10% ROI.

And am thinking of suggesting to my friends,reinvesting the profit for like six month or one year.

thank u too.

U can a big boutique business

bebene:

i thought of transportation too, but the prblm is, the number of buses we should start with,is this amount enough to buy,say five(new)buses?

our target is 10% ROI.

And am thinking of suggesting to my friends,reinvesting the profit for like six month or one year.

thank u too.

By new buses, do you mean Tokunbo or Brand new, never used? I would suggest Tokunbo, first grade. If you try to cut down on initial costs, your N6m should get you 5 Ford/Volkswagen Sharon/Sharan space buses @ a maximum of 900k each.

In all, ensure that you do it yourselves and reduce starting costs as much as possible.
The business, if properly managed, should give you more than 10% ROI on monthly basis. Don't forget to insure those vehicles and have an accountant. Don't run the business just to feed yourselves.

Etfash:


By new buses, do you mean Tokunbo or Brand new, never used? I would suggest Tokunbo, first grade. If you try to cut down on initial costs, your N6m should get you 5 Ford/Volkswagen Sharon/Sharan space buses @ a maximum of 900k each.

In all, ensure that you do it yourselves and reduce starting costs as much as possible.
The business, if properly managed, should give you more than 10% ROI on monthly basis. Don't forget to insure those vehicles and have an accountant. Don't run the business just to feed yourselves.

thank u very much, i really appreciate your post. One question pls, should we rent a building i.e, make office and give the business a name?

bebene:

thank u very much, i really appreciate your post. One question pls, should we rent a building i.e, make office and give the business a name?

I will advise that you register the business with CAC.

If you can talk to somebody who has a space outside his house or office that is close to the main road, it will be nice. Just construct a make shift tent there for a start, attend to customers there and take off from there. It will be good to have a place in your destination too.
The above will be more cost effective than renting or buying a place at the beginning. Pressure on your sales would be reduced and more profit would be realised. Appreciate the owner of the space from time to time and ensure you don't break the bridge (keep the relationship, no matter what you do).

Etfash:


I will advise that you register the business with CAC.

If you can talk to somebody who has a space outside his house or office that is close to the main road, it will be nice. Just construct a make shift tent there for a start, attend to customers there and take off from there. It will be good to have a place in your destination too.
The above will be more cost effective than renting or buying a place at the beginning. Pressure on your sales would be reduced and more profit would be realised. Appreciate the owner of the space from time to time and ensure you don't break the bridge (keep the relationship, no matter what you do).

thank u once again, ur points have been noted.

pls i need more advice from people with experience and experts.

Hello @all. My take on this:
1. Is the whole sum going to be capitalized for the business? If yes, it means 50 of you guys are co-owners of the business(es) accordingly. I am assuming, you guys can form a cooperative to have a more formal identity and structure.
2. You guys also have to determine whether you are employing others to carry out the business or you have competent manpower in the battalion of 50 men.
3. For a real business as you want, it is the market that SHOULD determine what you are to go into and also your collective resolution...
4. It means, you will need to have a REAL Business Developer/Researcher in your LOCATION/AREA/REGION to conduct REAL research/feasibility studies in order to determine A) what products or services the LOCAL PEOPLE are PAYING FOR (LARGELY IN CASH) and the viability of such.
5. In summary, Your location and current or potential future market needs should determine what you are to consider for business decision. It would be difficult for anyone here to tell you the right business if we dont know which LOCATION/AREA you are from; and most importantly, getting a business analyst/researcher/consultant(whatever label) to do a proper field work. Cheers

jobadaiya:
Hello @all. My take on this:
1. Is the whole sum going to be capitalized for the business? If yes, it means 50 of you guys are co-owners of the business(es) accordingly. I am assuming, you guys can form a cooperative to have a more formal identity and structure.
2. You guys also have to determine whether you are employing others to carry out the business or you have competent manpower in the battalion of 50 men.
3. For a real business as you want, it is the market that SHOULD determine what you are to go into and also your collective resolution...
4. It means, you will need to have a REAL Business Developer/Researcher in your LOCATION/AREA/REGION to conduct REAL research/feasibility studies in order to determine A) what products or services the LOCAL PEOPLE are PAYING FOR (LARGELY IN CASH) and the viability of such.
5. In summary, Your location and current or potential future market needs should determine what you are to consider for business decision. It would be difficult for anyone here to tell you the right business if we dont know which LOCATION/AREA you are from; and most importantly, getting a business analyst/researcher/consultant(whatever label) to do a proper field work. Cheers

thanks for ur advice, except for cooperative society, from the beginning we agreed that there is nothing like that, its strictly business, we only share profit and loss together.

Your are welcome sir. Sincerely

bebene:

i thought of transportation too, but the prblm is, the number of buses we should start with,is this amount enough to buy,say five(new)buses?

our target is 10% ROI.

And am thinking of suggesting to my friends,reinvesting the profit for like six month or one year.

thank u too.

You are doing something great but to get the best out of any investment, it is best to think long term. In fact, especially because of your size, should know how you intend to exit the business before you start: you want to sell your shares to other members, you want the business to go public (plc) etc and make necessary documentation of your plans.

This will help and guide other decisions to make from the beginning.
And whatever choice you make, please don't forget the cost of running the business for at least one year (if that is what it takes for it to generate enough funds to run itself.

As for what you can do with 6m, may be you can get inspiration from the thread about what business you can start with 2 million here on nairaland or just google it and add coma (,) and the 'nairaland'.

Just some advise, hope it doesn't sound like unnecessary lecture.

PMIcon:


You are doing something great but to get the best out of any investment, it is best to think long term. In fact, especially because of your size, should know how you intend to exit the business before you start: you want to sell your shares to other members, you want the business to go public (plc) etc and make necessary documentation of your plans.

This will help and guide other decisions to make from the beginning.
And whatever choice you make, please don't forget the cost of running the business for at least one year (if that is what it takes for it to generate enough funds to run itself.

As for what you can do with 6m, may be you can get inspiration from the thread about what business you can start with 2 million here on nairaland or just google it and add coma (,) and the 'nairaland'.

Just some advise, hope it doesn't sound like unnecessary lecture.

nop i appreciate your advice too, thank you, have noted lots of points from your post.

PMIcon:


You are doing something great but to get the best out of any investment, it is best to think long term. In fact, especially because of your size, should know how you intend to exit the business before you start: you want to sell your shares to other members, you want the business to go public (plc) etc and make necessary documentation of your plans.

This will help and guide other decisions to make from the beginning.
And whatever choice you make, please don't forget the cost of running the business for at least one year (if that is what it takes for it to generate enough funds to run itself.

As for what you can do with 6m, may be you can get inspiration from the thread about what business you can start with 2 million here on nairaland or just google it and add coma (,) and the 'nairaland'.

Just some advise, hope it doesn't sound like unnecessary lecture.

You sound very knowledgeable in matters concerning business setups.
Some great pieces of advise you gave up there.

frisby:


You sound very knowledgeable in matters concerning business setups.
Some great pieces of advise you gave up there.

Thanks a lot for the kind comment.

6m can get u a truck and the product ,,, therefore , u can go into diesel biz. or buy truck and join us in sand supply, we have a dredging site.