My fellow nairalanders plz I realy need ur opinion on
this very important issue here.
I ve one 130,000 naira in my account which I ve
saved for a very long time and I decided to use it for
a business purpose, I thought of all the businesses
with low capital starts up and decided to end with
phone accessories business which include
Batteries
Phone cass en for all phones
Earpiece
Charger
Screen guide
Phone panels of all types
Screen of all types
Etc
Let me break it down how I tend to spend the
130,000 on this business
rent for 6months 30,000
interiors like wooden racks and painting 20,000
Then the remaining 80k I intend to use it to buy
goods
And right now am having a problem
My elder brother told me that the money won't be
enough that I need up to 500k to start this business
and I am tired of setting at home doing noting
That why am here for help if any body who is into
this business can give me advice on what to do,
and if I don't start the business now I might end up
spending that 130k in my account. my question is ll 80k be enough to buy goods?.
Plz help a brother
Cus this very important
Plz don't mind my errors on this piece
Cus I go school but I no finish
Thanks

lols @op

to be frank with you, your bro isn't progressive minded.. you don't need millions to start a biz..

there's nothing wrong in starting small.. in fact, starting small tends to be more lucrative than starting big..

left to me, phone accessories might not be as profitable as you think even if you invest so big in it.. I haven't bought a phone's 'spare part' in about 2 years..


with your capital..
go to an higher institution of learning.. find a selling point and sell 'what students wants' ..

ranging from
*mishai
*mesuya
*bar/restaurant
*groceries

etc..
or you could offer computer services like printing, photocopying, internet services etc..

my 1kobo

Xfemt:
My fellow nairalanders plz I realy need ur opinion on
this very important issue here.
I ve one 130,000 naira in my account which I ve
saved for a very long time and I decided to use it for
a business purpose, I thought of all the businesses
with low capital starts up and decided to end with
phone accessories business which include
Batteries
Phone cass en for all phones
Earpiece
Charger
Screen guide
Phone panels of all types
Screen of all types
Etc
Let me break it down how I tend to spend the
130,000 on this business
rent for 6months 30,000
interiors like wooden racks and painting 20,000
Then the remaining 80k I intend to use it to buy
goods
And right now am having a problem
My elder brother told me that the money won't be
enough that I need up to 500k to start this business
and I am tired of setting at home doing noting
That why am here for help if any body who is into
this business can give me advice on what to do,
and if I don't start the business now I might end up
spending that 130k in my account. my question is ll 80k be enough to buy goods?.
Plz help a brother
Cus this very important
Plz don't mind my errors on this piece
Cus I go school but I no finish
Thanks

Seriously you need to do your homework, you need a business plan.

Where are you going to buy the goods?
How much are the items sold and how much you intend to sell?
When you know how much they cost, you will know how many your remaining capital can buy. Then of course you will know your profit. The next step will be to ask yourself if the profit is worth it. Can you pay for your shop rent at the end of the month?

Please do all the ground work and you will be able to answer the questions yourself, not just sitting and saying you need about 500K how did you arrive at the figure?