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Help,i Seem To Have Made A Wrong Investment - Investment - Nairaland

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Help,i Seem To Have Made A Wrong Investment by ollins(m): 8:08am On Jul 09, 2017
Two months ago i decided to go into wine business,with a capital of 3 million naira,i got a big shop in lagos,bought the wines and got all the papers needed for the business but since i set up the shop and all that can you belive i have not sold more than 3 cartons,i am really beginging to feel i made a mistake going into wine?people are just not buying or is there is something i should be doing,please advises from investors here will be wellcomed.I am really worried and scared a bit
Re: Help,i Seem To Have Made A Wrong Investment by Nobody: 8:33am On Jul 09, 2017
ollins:
Two months ago i decided to go into wine business,with a capital of 3 million naira,i got a big shop in lagos,bought the wines and got all the papers needed for the business but since i set up the shop and all that can you belive i have not sold more than 3 cartons,i am really beginging to feel i made a mistake going into wine?people are just not buying or is there is something i should be doing,please advises from investors here will be wellcomed.I am really worried and scared a bit
blame Buhari. Wine business is very lucrative, you can make as much as 10k on one bottle. But the thing is, people are thinking of food. Is it not someone that has eaten will drink moet or hennessy?

3 Likes

Re: Help,i Seem To Have Made A Wrong Investment by ITbomb(m): 8:36am On Jul 09, 2017
I don't think people just walk in to buy wine, it is not normal consumables.
So you need to hang out with peeps who need it, take the biz outside, employ someone to take care of the shop while you visit clubs, guys from your church who are doing occasions/events etc

Your feasibility study before opening should have listed your targeted buyers or are they not living up to expectations?
Take the biz to them

5 Likes

Re: Help,i Seem To Have Made A Wrong Investment by adwaani(m): 10:39am On Jul 09, 2017
This might be unrelated to your wine buisness,but i have had the same experience when i initially opened a shop selling agric products in abattoir.My buisness was at a disadvantage because my shop was oddly placed and secluded so my competitors had an edge since customers see their shop first.Sales were terrible the first three months.I barely sold a bag of the product,and my supplier was on my neck for payment.I reduced my price below my competitors had, yet no show.I then realized customers where not coming because I was waiting and not going to bring them.So the next day I want into the abattoir market to meet all the vow sellers I could.Told them I would sell at cost and built connections.I didn't make a dime from the first batch of products but it gave me valuable customers who advised me on my competition,what to buy,when to buy and who was credit worthy among the cow owners.Not that I hadn't done my initial market survey, it's just that your survey does not vary with time,hence it can't always be trusted.Fastforward to six months after starting ,I can proudly call say "my customer " in the truest sense of the word as they won't but from anyone else due to the relationship I have built with them.

3 Likes

Re: Help,i Seem To Have Made A Wrong Investment by adwaani(m): 10:41am On Jul 09, 2017
adwaani:
This might be unrelated to your wine buisness,but i have had the same experience when i initially opened a shop selling agric products in abattoir.My buisness was at a disadvantage because my shop was oddly placed and secluded so my competitors had an edge since customers see their shop first.Sales were terrible the first three months.I barely sold a bag of the product,and my supplier was on my neck for payment.I reduced my price below my competitors had, yet no show.I then realized customers where not coming because I was waiting and not going to bring them.So the next day I want into the abattoir market to meet all the cow sellers I could.Told them I would sell at cost and built connections.I didn't make a dime from the first batch of products but it gave me valuable customers who advised me on my competition,what to buy,when to buy and who was credit worthy among the cow owners.Not that I hadn't done my initial market survey, it's just that your survey does not vary with time,hence it can't always be trusted.Fastforward to six months after starting ,I can proudly call say "my customer " in the truest sense of the word as they won't but from anyone else due to the relationship I have built with them.
Re: Help,i Seem To Have Made A Wrong Investment by samjey: 12:30pm On Jul 09, 2017
ollins:
Two months ago i decided to go into wine business,with a capital of 3 million naira,i got a big shop in lagos,bought the wines and got all the papers needed for the business but since i set up the shop and all that can you belive i have not sold more than 3 cartons,i am really beginging to feel i made a mistake going into wine?people are just not buying or is there is something i should be doing,please advises from investors here will be wellcomed.I am really worried and scared a bit
Sorry about that. If you trust in the power of prayers and can lift up your biz to God, he will surely intervene and set you aright. Again, check your location. Are you sure you're rightly located? Are you where you're meant to be? If not then move! Also ask yourself if you're cut out for that biz. Of you're not then you need a change of business. After tall not all clothes match or fit you. If you're satisfactory positive and have assured answers to these questions all you need is just DIVINE INTERVENTION! Again you might be interested in a min that can also be a side biz for your biz. It's plainly online and gold business. With just a 100k start up and one time registration fee in few months you'd make over a million naira. It's not a ponzi or PH Gh system. It's a registered and a world renowned biz. We have a team for fast track success in the biz. So you're not alone! It's purely MLM! Once you're in, very easily you'd start making your cash. If you're interested do not hesitate to send me a pm on 07030425989..whatsapp pls! God bless you in Jesus name. Amen.
Re: Help,i Seem To Have Made A Wrong Investment by ollins(m): 12:35pm On Jul 09, 2017
ITbomb:
I don't think people just walk in to buy wine, it is not normal consumables.
So you need to hang out with peeps who need it, take the biz outside, employ someone to take care of the shop while you visit clubs, guys from your church who are doing occasions/events etc

Your feasibility study before opening should have listed your targeted buyers or are they not living up to expectations?
Take the biz to them
thanks,am thinking along that line of employing someone in the shop while i move out to search out customers
Re: Help,i Seem To Have Made A Wrong Investment by ollins(m): 12:36pm On Jul 09, 2017
samjey:

Sorry about that. If you trust in the power of prayers and can lift up your biz to God, he will surely intervene and set you aright. Again, check your location. Are you sure you're rightly located? Are you where you're meant to be? If not then move! Also ask yourself if you're cut out for that biz. Of you're not then you need a change of business. After tall not all clothes match or fit you. If you're satisfactory positive and have assured answers to these questions all you need is just DIVINE INTERVENTION! Again you might be interested in a min that can also be a side biz for your biz. It's plainly online and gold business. With just a 100k start up and one time registration fee in few months you'd make over a million naira. It's not a ponzi or PH Gh system. It's a registered and a world renowned biz. We have a team for fast track success in the biz. So you're not alone! It's purely MLM! Once you're in, very easily you'd start making your cash. If you're interested do not hesitate to send me a pm on 07030425989..whatsapp pls! God bless you in Jesus name. Amen.
Thanks for your advice bro,i appreciate
Re: Help,i Seem To Have Made A Wrong Investment by ollins(m): 12:38pm On Jul 09, 2017
adwaani:
This might be unrelated to your wine buisness,but i have had the same experience when i initially opened a shop selling agric products in abattoir.My buisness was at a disadvantage because my shop was oddly placed and secluded so my competitors had an edge since customers see their shop first.Sales were terrible the first three months.I barely sold a bag of the product,and my supplier was on my neck for payment.I reduced my price below my competitors had, yet no show.I then realized customers where not coming because I was waiting and not going to bring them.So the next day I want into the abattoir market to meet all the vow sellers I could.Told them I would sell at cost and built connections.I didn't make a dime from the first batch of products but it gave me valuable customers who advised me on my competition,what to buy,when to buy and who was credit worthy among the cow owners.Not that I hadn't done my initial market survey, it's just that your survey does not vary with time,hence it can't always be trusted.Fastforward to six months after starting ,I can proudly call say "my customer " in the truest sense of the word as they won't but from anyone else due to the relationship I have built with them.
so most business takes time,learning this in a hard way now,i did a lot of feasbility studies before setting it up o but all my expected customers started one story or story,they not buying
Re: Help,i Seem To Have Made A Wrong Investment by jimmbones: 2:23pm On Jul 09, 2017
from my experience in wine business. wen I tried dis wit my mum...I wrote proposals to different hotels, and I presented a product from France that wasn't too popular in the naija mkt. I found out that the hotels that patronized us were the ones with a french personnel as a manager. so look at the country ur wines are made, source for managers wit same country. I know we hav more of french, Italian and south Africans as managers of hotels.

3 Likes

Re: Help,i Seem To Have Made A Wrong Investment by samjey: 7:40pm On Jul 09, 2017
ollins:
Thanks for your advice bro,i appreciate
You're welcome! It is well with your biz in Jesus name

1 Like

Re: Help,i Seem To Have Made A Wrong Investment by Nobody: 7:59pm On Jul 09, 2017
Its good. i guess you should plan how you can be a supplier to bars and hotels
Re: Help,i Seem To Have Made A Wrong Investment by Sgoldentouch: 10:21pm On Jul 09, 2017
Hi
Re: Help,i Seem To Have Made A Wrong Investment by cynhamscakes(f): 12:49am On Jul 07, 2020
Hope your business later picked up?

1 Like

Re: Help,i Seem To Have Made A Wrong Investment by Kobicove(m): 4:23am On Jul 07, 2020
@ Ollins can you give an update on sales at your wine shop?

Did it eventually pic up?
Re: Help,i Seem To Have Made A Wrong Investment by Kobicove(m): 4:26am On Jul 07, 2020
ollins:
Two months ago i decided to go into wine business,with a capital of 3 million naira,i got a big shop in lagos,bought the wines and got all the papers needed for the business but since i set up the shop and all that can you belive i have not sold more than 3 cartons,i am really beginging to feel i made a mistake going into wine?people are just not buying or is there is something i should be doing,please advises from investors here will be wellcomed.I am really worried and scared a bit



@ Ollins can you give an update on sales at your wine shop?

Did it eventually pic up?

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