Ymodulus:

hehe. .

She should help the boy

Ymodulus:
[size=15pt]The Market Research[/size]

Having been in the Yam business in time past, coming into the mile12 market wasnt new to me or running around the market.

I got to the market on 27th of April 2016, then went straight to the tomatoes section, looking for some hausa sellers.

I met a man who linked me up to a major tomatoes delale ( Delale is an hausa term for dealer ). I met the Delale and began asking him questions about the business. At first he was hesitant  been that my dress and looks was not in tandem with that of most marketers. I had to go native, speaking the Hausa language. i told him  that am interested in bringing tomatoes to the market to sell and if he can sell for me. He told me he can and took me round the market to show/ teach me the nitty gritty  of the tomatoes business.


Note: Some may ask why i had to meet the Hausa sellers and not any other tribe  like yoruba been the dominant tribe there. From my research, and having been a Yam Dealer in time past of up to 10,000 tubers in a day. I noticed that the Mile12 markets operates a Cartel Like system of Government. You cant just beat the Hausa Cabals of sellers. Also for you to survive in a new business you have to go with the HONEST party. The Hausas are very much more loyal in business/ open in business dealing than any other tribe.

Acidosis:
You're a REAL businessman, a risk* taker!

Doing Business in Nigeria is tedious, I can imagine all you passed through settling those area boys & incessant 'tax' collectors.

I would like to see your expenses, ROI, etc.

MizMyColi:

joseph1832:

Good Morning Mr Joe.
I hope you have gathered enough insight on this thread to start Tomato biz.

MizMyColi:


Please don't let Jadekitana see you upload pictures of your meal.
You will be declared broke by her standards

Ymodulus:

1. PERISHABLES/ Poor State of Vehicles:
Tomatoes are Perishables, some J5 got spoiled on the way. And when this happens. Just be sure you have a back up plan and hope it happens where there is a presence of settlement. Out of almost 48J5 - 51J5. 7J5 got spoiled on transit. Some were repaired but 3 J5 about 450 Basket got Sold at extremely ridiculous price of 3K/Baskets.

2. BANK TRANSFER:
Thanks to My Bank. I love Diamond Bank. This Bank made transferring of money so easy for me. I transferred millions from my account and sister's account with ease and instant reflection.
However i hated the fact that bank customer care always  calling me to confirm if i transferred such amount.  Even after confirming it,  they will give you one call.
Shout out to FirstBank. Hehe i cant believe i am saying this about firstBank. but una don try small. I am impressed. But Kudos D
-SETBACKS-

3. THUG FEES:
We loose much money to area boys and road side thugs. For example- W give every J5 Driver as much as N10,000. This is set aside to bribe police and soldiers and area boys on the road. In a certain area of  Enugu  State the youths demand as high as N4,000 just to allow the vehicle have their way.
some youth wont want to work, rather they will just be on the way trying to get money from others. Its so annoying.

4. RIDICULOUS UNION FEES:  We see fees that we begin to ask ourselves, if such words exist in the dictionary.  We dont pay such ridiculous fees in Cameroon, then why Nigeria? Nigerian Government needs to Look into this.

5. NATIONALITY: Too be honest visiting cameroon and doing business in cameroon is not an easy task. We try to hide our nationality. When and If they should know you are a Nigerian, they will try to exploit you by all means. I have been in the currency business ( Dollars to Naira to Yuan for roughly  7months amd i am very versed in it. My final year thesis in the university  last year was also on currency so i kmow every in and out ). But in cameroon i was taught to not Brag. These guys will give you ridiculous  exchange rate and see you have no option but to pay. At times they rub this daylight robberry directly to your face.
Imagine we buy a Can of Coke at N400 whem converted into naira. when i asked an hotel attendant why things are expensive she replied that we should stop acting as nigerians. Because they believe Nigerians are rich. She even sighted millions of naira we spend from celebrities to business men to politicians. She even believes the LindaIkeji Bag is worth the price the media claims. She also attacked I and my Friend for using the Samsung Galaxy  S7 Edge and Iphone 6S Plus. Though she was nice and explained to us tips on how to be careful.
We handed her N5000 which she thanked us and acted as our tour guide through out our stay.

5. BANKS RESTRICTIONS:  GTBank Needs to step up her Game.  In Diamond Bank, a savings account holder can transfer up to 10M a day  without  hassles all from Mobile App. Gtbank restricts transfers to N1Million. Also Gtbank Tramsfer is very slow as compared to Diamond. My Friend Had a hard time transferring Funds.

6. NETWORK ROAMING:
Roaming at N40/Minute isnt fun. Note i said N40/Minute not N40/Second.
The implication is this:
- When i am recieving a call they charge me N40/Minute. Even if the call is just for 3Seconds i will be Charged N40.
Ahhhhhh!! Iyalaya to all those Flashers :-)
Men Diamond Bank Customer care agent just dei tell me say sir hold on while i confirm these details. i told her madam, confirm it and call me back.
 Hehe!!! Recharging Phone Ko easy.
- Mtn Roaming is not so nice. The network is Pathetic. I had no option but to  use it.

7. FOOD:
No food like Nigerian Made Food. I couldnt eat some trash. so i resorted to drinking Soft Drinks and Snacks.

MizMyColi:


Good Morning Mr Joe.
I hope you have gathered enough insight on this thread to start Tomato biz.

MizMyColi:

Please don't let Jadekitana see you upload pictures of your meal. You will be declared broke by her standards

Ymodulus:

*Making necessary calculations. It cost us N9,993.7 to get a Cameroon Basket of Tomatoes to Lagos. And this Basket goes as high as  13,000 - N14,000 in lagos. However we asked our Tomatoes Dealer to sell all the tomatoes at a flate fee rste of N12,000.

joseph1832:
Not really, I'm looking for more insight on how to woo you. So far, I've come forth with absolutely nothing.

MizMyColi:


I take it you're not aware I'm recently married.
Lol

joseph1832:
Wow! CONGRATULATIONS!!!! Who's the lucky man who succeeded where I failed woefully?


And you couldn't give me an invite...

I'm sowieeee

AleAirHub:

Seeing this can of stories from a young entrepreneur like you , keep my hustling going....
You have prove to every young / old entrepreneur that do come here for useful/important update that for them to SUCCEED & EAT LION share in the game, they must be a great RISK TAKER....
In all your new businesses idea , it is always a high tension to everyone that come across your update and that has made you strongly/successful.
Bravo my Youngest Boss
Cc Winetapper

MizMyColi:


I'm sowieeee

joseph1832:
No need to apologize. I'm indeed very happy for you. Your man is a lucky man to have a beautiful head with a beautiful body such as you for a wife.

I'm almost jealous... LOL.

MizMyColi:

Ymodulus:
[size=15pt]The Market Research[/size]

Having been in the Yam business in time past, coming into the mile12 market wasnt new to me or running around the market.

I got to the market on 27th of April 2016, then went straight to the tomatoes section, looking for some hausa sellers.

I met a man who linked me up to a major tomatoes delale ( Delale is an hausa term for dealer ). I met the Delale and began asking him questions about the business. At first he was hesitant  been that my dress and looks was not in tandem with that of most marketers. I had to go native, speaking the Hausa language. i told him  that am interested in bringing tomatoes to the market to sell and if he can sell for me. He told me he can and took me round the market to show/ teach me the nitty gritty  of the tomatoes business.


Note: Some may ask why i had to meet the Hausa sellers and not any other tribe  like yoruba been the dominant tribe there. From my research, and having been a Yam Dealer in time past of up to 10,000 tubers in a day. I noticed that the Mile12 markets operates a Cartel Like system of Government. You cant just beat the Hausa Cabals of sellers. Also for you to survive in a new business you have to go with the HONEST party. The Hausas are very much more loyal in business/ open in business dealing than any other tribe.