We all know how the economy is in the country, and it isnt wise to have only one source of income.

I have like 500k lying about and i wants a little business to put it in, but unfortuately, being more of an office person i realise i dont know what i can invest in. I just know that if i dont use that money to start a little business, i may end up buying shoes n kiddies stuffs

Anybody with a good suggestion should pls help a sister.
N/B: The 500k should take care of rent too

have you considered a farm...eg piggery

You should do business in an area that you have passion for. Have you got any skills i.e sewing, cooking etc?

Do you just want to trade i.e buying and selling? Or provide a service to people?

Also ensure that whatever business you settle for has minimal overhead costs so for example you shouldn't be considering renting a space immediately at least until the business picks up.

Also consider if you can run the business alongside your current job or if you have to entrust it to third parties i.e sales persons/reps.

Answer these questions then we can take it from there!

babythug:
You should do business in an area that you have passion for. Have you got any skills i.e sewing, cooking etc?

Do you just want to trade i.e buying and selling? Or provide a service to people?

Also ensure that whatever business you settle for has minimal overhead costs so for example you shouldn't be considering renting a space immediately at least until the business picks up.

Also consider if you can run the business alongside your current job or if you have to entrust it to third parties i.e sales persons/reps.

Answer these questions then we can take it from there!

I wants a biz i can entrust into someone's care while i do my regular job. I also think i will fancy buying n selling. I can sew presently n i make most of my wears n my daughters' .

babyme1:


I wants a biz i can entrust into someone's care while i do my regular job. I also think i will fancy buying n selling. I can sew presently n i make most of my wears n my daughters' .

So buying and selling or sewing which appeals to you more?

If buying and selling what do you have in mind? clothes, foodstuff, shoes, artificial hair and wigs?

babyme1:
We all know how the economy is in the country, and it isnt wise to have only one source of income.

I have like 500k lying about and i wants a little business to put it in, but unfortuately, being more of an office person i realise i dont know what i can invest in. I just know that if i dont use that money to start a little business, i may end up buying shoes n kiddies stuffs

Anybody with a good suggestion should pls help a sister.
N/B: The 500k should take care of rent too

Invest in first grade bales.its a very lucrative biz and also a silent investment.Just give it a trial. u will thank me later.

pickabeau1:
have you considered a farm...eg piggery

This will need space and my location currently wouldnt be good for it. Thanks

babythug:


So buying and selling or sewing which appeals to you more?

If buying and selling what do you have in mind? clothes, foodstuff, shoes, artificial hair and wigs?

I love sewing but i need to perfect the skill. I trained for a month before stopping and all i do now is to make simple styles. If i wants to go into sewing then i need to go n complete the training.

I had buying n selling in mind initially, but i dont know which one is profitable that is why im here

5tss:
Invest in first grade bales.its a very lucrative biz and also a silent investment.Just give it a trial. u will thank me later.

Sounds interesting. Is it kids wear or adult? Where do they buy them as im currently in Uyo. How much does a bale costs n whats the profit like? Thanks

babyme1:


Sounds interesting. Is it kids wear or adult? Where do they buy them as im currently in Uyo. How much does a bale costs n whats the profit like? Thanks

Both ma'am.Am a supplier of uk and US bales of first grade used clothes and price varies.Sending ur goods to uyo wont be a problem.(its thru waybill)if u are interested u can call/watsapp me on 08063238801 for more info.thanks

Ma'am, if you have a job that brings in steady income i'd say you should hold off on the business idea for now until the economy gets better. You might lose all your capital if you're not careful cos the present economy is killing lots of businesses.

If you intend going into buying and selling, before you start do your assignment with regards to a target market and location is very vital. With the present situation of things, you might have to sell on credit to improve sales and credit kills business.

I will advise you think of a business where you get to render "service(s)". People pay instantly for service(s) and in some cases sef they pay before you even render the service. And if you decide on selling goods/products, make sure it's a necessity, something people cannot do without and not what people consider as luxury. Economy is harsh and no one buys things for buying sake again.

Succinctly, just think well, do a thorough research on your own before investing in any business.

All the best.

babyme1:


This will need space and my location currently wouldnt be good for it. Thanks

You can start doing like an internship
Learning the ropes first before you start

More importantly

Fix the money on deposit so you are not.tempted to spend it

Not.for.investment while you make.your mind