I need help from anyone with a good idea, I am into Business center- Photostat,Lamintaion, but the business is frustrating .One the copier keep having faults,before you repair it another problem will arise. I am thinking of quiting the business after three years of continual lost, I am in a strategic Location and its painful seeing my customers going.Now my fear is what do I do in the shop again as I dont want to leave the place. I am thinking of what will not have any link with Power as this also contribute to the lost. fueling and servicing of generator is not easy. Please I need a professional advice.thanks

In addition to what Naijacutiee mentioned above, I will advise that you take inventory/monitor all aspects of your operations (not just the loosing areas). You should have a clear idea of the number of laminations/copies/phone-calls that you need to be making per day/week to stay in business, and if you dont get those numbers, you need to find how to get them. Also watch your expenses and make adequate adjustments in a timely fashion. Look out for new services that will benefit your customers so that you can grow and better serve the needs of your customers. That is what is called running a business.

I am not sure where you stand at this moment, but if you still have funds to get proper equipments and the area is truly strategic, then go ahead and run it like a proper business. But if you have to try another business, then you have to find what will sell in the area because the location being strategic for a Business Center does not automatically mean that it will be good for other businesses. The only universal product is food but I am afraid that the shop may be too small for that. You can stand in front of your shop and imagine the things that the people moving around will need to buy.

Whatever you do, you must have a good understanding of the business and the tools you are using. Products do have a lifetime after which it costs more to be using them than buying a new one. Some business that cannot with-stand any downtime will change their tools after three to five years, not because they have too much money, but because a single failure will be very costly to their operations. I also think that your technicians are only looking out for their interest. Any technician who is responsible for the repairs of an equipment and the equipment keeps breaking down does not belong on your team.

@omowunmi, This post is older than me on this Forum, I mean I am just sighting it,
Does the problem still persist as @ now?
If so, Study the competition, or rather study the trade/terrain,
These are my observations,
You may not be adequately capitalised for this business, most biz centers have at least 2 photocopiers (back up),
People in this biz continuusly keep updating their knowledge about copiers to be able to invest in the most efficient, wether old/new
In recent times the hp deskjet multi-purpose printers are a good support, cos they use very little energy, & a brand new one does not cost much, even your UPS can do some copies without the gen,
It is also asumed that you are computer literate (every nairalist is ) and offer dektop publishing services, here, the hp is also a good back up to your laserjet,
On the desk top services, this is a cashcow on its own, but you may need to gradually upgrade your skill, you don't have to become a graphic artist overnight,
With dedication the skills u use in nairaland is good enough to type students projects, even if the nearest campus is a few kilometers away, with the right pricing & positioning, students will still seek u wherever.
Note the trends, ID lamination is fading away even certificates are being laminated with the flexible lamination, if the flex is what u have, thats another cash cow on its own. Meanwhile, respond to suggestion from posters, as clarifications are required to be able to give specifically relevant solutions, its good u value your location'
On non power dependent biz, telecom vouchers is one of the best for your situation, & it grtly depends on your strategies, I have significant expertise in this direction if you care for it. As you may already know marketing/mgmt strategy is key to most biz successes, even some banks, filling stations, table water, biz founded with millions are closing down while some are smiling to the bank, endeavour to give a feedback I;M SURE there are enough experts in nairaland to bring u out of the doldrums. You will make it.

As an entrepreneur, my advice to you is this; You should be able to know when to quit. If all odds are against you in that business, then quit the business. It's useless hitting your head against the wall.

Since you have a good location, why don't you consider another business in this same location. Give it a consideration.
My last word to you is this; "smart entrepreneurs know when to call it quit."