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With 5m Naira, Which Business Can I Start In Ibadan? - Business - Nairaland

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With 5m Naira, Which Business Can I Start In Ibadan? by Vicyace: 10:29pm On Aug 10, 2018
Hello

I'm planning to move to ibadan in Oyo State.
There is availability of about N5m.
I would like to entertain ideas about the type of business I can venture into and realise good profit over time.
Re: With 5m Naira, Which Business Can I Start In Ibadan? by StarUp(f): 10:37pm On Aug 10, 2018
Vicyace:
Hello

I'm planning to move to ibadan in Oyo State.
There is availability of about N5m.
I would like to entertain ideas about the type of business I can venture into and realise good profit over time.


Send me a confidential mail if you are serious about it...l have the ideas down or better still you can start a nylon manufacturing mini-industry around Mokola for a start and use the proceeds to start other businesses.

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Re: With 5m Naira, Which Business Can I Start In Ibadan? by JLM(f): 11:57pm On Aug 10, 2018
@Poster one thing I ll tell you is please do not invest all the money in whatever you choose to do. Plan well and use just a little to startup then watch it grow before you keep adding to expand it. Believe me I am talking from experience.

Otherwise just look for the nearest Central bank to you and go and enquire about buying bonds. Usually they pay you a monthly profit while your money is still safe and intact with them and you can tell them for how long you want to invest. This option saves you so much stress, heartache, hypeetension etc. I watched over 12million go down the drain.

I am talking from experience. Its not just about getting the business idea. Pls prepare well. If buying machines, go for strong uk used rather than brand new. Cos if it happens you decide to sell, even if you bought it in millions and used for a month buyers will price for chicken change. If business goes well and you are making profit then you can upgrade to brand new.

Business especially in a place like ibadan needs major planning, tact, plus you have to follow up employees aggressively. Also I hope you are not the goody goody nice type? Cos with staff thats the beginning of failure. Plus the envy of the indigenes. I mean even if your neighbour sells shoes and you sell food, the fact you are getting high patronage is enough to raise evil against you. So please pray hard.

I am not discouraging you, there are many succeeding here. I am only giving you advice that i wish someone gave me.

Goodluck

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Re: With 5m Naira, Which Business Can I Start In Ibadan? by Nobody: 12:56am On Aug 11, 2018
Op, Take this Boss lady advice above me. Her point is really insightful. And if i may add to what she said, learn about mini importation, take out 500k to start that importation business then get bonds/T.bills/mutual funds with the other 4.5m. if you know your way with the mini importation thing, you will be adding more millions to that already invested 4.5m.
Re: With 5m Naira, Which Business Can I Start In Ibadan? by Alabaintprice(m): 6:34am On Aug 11, 2018
Everybody and mini importation. That is not a realistic business pls.
Nylon business is very profitable. Everyone uses nylon daily, 3d printing business as well is profitable.

1 Like

Re: With 5m Naira, Which Business Can I Start In Ibadan? by Vicyace: 6:47am On Aug 11, 2018
StarUp:


Send me a confidential mail if you are serious about it...l have the ideas down or better still you can start a nylon manufacturing mini-industry around Mokola for a start and use the proceeds to start other businesses.

Sir,
I will be in touch
Re: With 5m Naira, Which Business Can I Start In Ibadan? by Vicyace: 6:55am On Aug 11, 2018
JLM:
@Poster one thing I ll tell you is please do not invest all the money in whatever you choose to do. Plan well and use just a little to startup then watch it grow before you keep adding to expand it. Believe me I am talking from experience.

Otherwise just look for the nearest Central bank to you and go and enquire about buying bonds. Usually they pay you a monthly profit while your money is still safe and intact with them and you can tell them for how long you want to invest. This option saves you so much stress, heartache, hypeetension etc. I watched over 12million go down the drain.

I am talking from experience. Its not just about getting the business idea. Pls prepare well. If buying machines, go for strong uk used rather than brand new. Cos if it happens you decide to sell, even if you bought it in millions and used for a month buyers will price for chicken change. If business goes well and you are making profit then you can upgrade to brand new.

Business especially in a place like ibadan needs major planning, tact, plus you have to follow up employees aggressively. Also I hope you are not the goody goody nice type? Cos with staff thats the beginning of failure. Plus the envy of the indigenes. I mean even if your neighbour sells shoes and you sell food, the fact you are getting high patronage is enough to raise evil against you. So please pray hard.

I am not discouraging you, there are many succeeding here. I am only giving you advice that i wish someone gave me.

Goodluck

Thank you so much ma,

I understand that starting a business requires a lot and I'm not ready to rush in quickly so I don't rush out too.

I know a bit about manufacturing and the ills associated with that sector so I do not intend to do any manufacturing biz for now. Maybe later.

I hope I'm free to contact you when I'm on ground. I could use your help in making some plans.

Thank you
Re: With 5m Naira, Which Business Can I Start In Ibadan? by ishadfurnitures: 8:42am On Aug 11, 2018
You can part of the money for supply bussines.. like supply a company that will give you an LPO to supply them and you make your Roi. E.g NBL , Sona biscuit etc.

1 Like

Re: With 5m Naira, Which Business Can I Start In Ibadan? by fecundility(m): 9:32am On Aug 11, 2018
start up a garri processing factory, goat production for meat processing
noiler production
with this u can spend more than 2.5million n within two cycle of production u are going t make your money back n your business still intact
for garri processing capacity of 100bags per 6weeks n each bag sold around 7_8k
goat production u are going to start with 30-40goats m after six months u gonna sell it of leaving the only one with pregnancy n note d peeling of the cassava would b meant for feeding for the goat
lastly, u are going to stock 5oo day old of noiler n after 3-4 months u are gonna terminate at 2000 per one each
in conclusion, your are going t cultivate 2 hectare of cassava for the running of the factory n before then u will buying cassava
if this interests u. u can chat mi up with this nos 08120541149

1 Like

Re: With 5m Naira, Which Business Can I Start In Ibadan? by ewawumi(f): 9:59am On Aug 11, 2018
If i may ask, where are you moving from?

2 Likes

Re: With 5m Naira, Which Business Can I Start In Ibadan? by Vicyace: 3:51pm On Aug 11, 2018
ewawumi:
If i may ask, where are you moving from?

Lagos
Re: With 5m Naira, Which Business Can I Start In Ibadan? by ewawumi(f): 5:00pm On Aug 11, 2018
Vicyace:


Lagos
It's a nice idea to move from Lagos to Ibadan as the cost of living is relatively lower. My advice is, move to the suburb(i mean towards the outskirts), study the environment and inspiration will surely come. And bear in mind that most business in Ibadan will require you join an association

1 Like

Re: With 5m Naira, Which Business Can I Start In Ibadan? by initiate: 7:19pm On Aug 11, 2018
Guy wetin you wey wan pursue you go Ibadan. Please o. We are law abiding citizens in here

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