ojesymsym:
Please don't tell me the optometry eye clinic is one of the failures.
I just read the thread from beginning to this point.

No the optometry clinic was not one of the failures.

I did not eventually invest in the optometry clinic

Is there anyone here who has experience in rice business?

I want someone who had a good understanding of the entire value chain...from planting to harvesting, milling, de-stoning, baging and sale

davincizlyrics:
Do you have any interest in the health sector?

With 1million !

We can work together on this..

aussig:
Is there anyone here who has experience in rice business?

I want someone who had a good understanding of the entire value chain...from planting to harvesting, milling, de-stoning, baging and sale

aussig:
Is there anyone here who has experience in rice business?

I want someone who had a good understanding of the entire value chain...from planting to harvesting, milling, de-stoning, baging and sale

I have 7 years experience on complete value chain of rice. From planning, harvesting , milling, de stoning and bagging

I

https://www.youtube.com/watch?v=h7HBNEqHH5A

I also have 4 years experienced fish feed production and pro biotics specifically for aquaculture and poultry. U can reach me on newrevolutionglobal@gmail.com

Yakpa:
[Quite sorry about this sir...I think we need to discuss .. Truly a lot of us entrepreneurs do not know /understand the basics of business and having an investor and what they can do to your business.. I've never had one and I've been able to put my business in a good place with 100% of the capital funds coming from me but I've always said to myself .. that if I ever get anyone to invest in what I do.. it would be my priority to make him/her glad they did.. so here will be my take...
I'll have a good scrutiny on our deal to make sure that what I say I'll or can do, I MUST do it.. We owe that to the investor.. I would love a win win for both parties so I can be able to call you tomorrow and pitch forthcoming/new deals.. Surely the investor can't resist a great deal if you guys have had a good experience. Entrepreneurs pls know that you work first for your investors , followed by customers before thinking about yourself. God help us all

author=aussig post=85395708]

Dear Jabolo,



Happy New Year to you and other Nairalanders!

I have been very busy lately that's the reason I have not responded to you.

With respect to my experience providing finance to entrepreneurs I will try and provide some feedback on my experience.

Due to the conditionalities I outlined I was able to screen out the scam artists, however a few unsavoury characters still managed to get through the net.

These include people who are greedy, dishonest folks and people who really have no business running a company.

That nothwithstanding I am happy to report that there are still very honest Nigerians who are ready to stick to the terms of the contract they went into.
Such people are few and far in-between but it is possible to meet them here on Nairaland, you just have to be patient and look carefully.


Regrets
NEVER AGAIN will I invest in a start-up that is less than 18 months old. I made a terrible mistake by investing in about 3 of such start-ups and I ended up loosing a lot of money.

I let my guard down and put money in these companies based on sentiments because the promoters were so optimistic about the business ventures - all 3 of them were complete disasters!

I cannot give you the names of any of the business entities at this time but as time goes on I will give a brief description of the business models and provide pointers on why they failed or are doing well.

Enjoy the holiday

My observation is that a lot of the so-called entrepreneurs just want to have bragging rights to be able to call themselves "CEO".

Unfortunately they do not understand that being a business owner comes with a lot of responsibilities.

When you're the CEO the buck stops on your table, the survival or failure of the is entirely up to you, you need to be ready to go the extra mile to make sure the business works out.

A number of the promoters of these new start up do not want to take risks with there own resources, they want to push the financial risk to the investor so they can easily exit the business if something goes wrong.

Then there are those who are not sincere but are looking for a way to scam you under the guise of looking for an investor for their new business.

I would advise any potential investors to be wary of any start up where the promoter is asking you to invest in an intangible asset or expense, especially something whose value is difficult to ascertain.

You need to be sure that the asset of expense being acquired or incurred will result in commensurate addition of value to the business before you make a committment

oscarvicto:


I have 7 years experience on complete value chain of rice. From planning, harvesting , milling, de stoning and bagging

I

Have you been involved in distributorship of rice before...I'm referring to about 1 or 2 trailer loads of rice from Olam?

lonelygem:
We can work together on this..

What is the nature of your experience?

What value are you bringing to the 'table'?

oscarvicto:
I also have 4 years experienced fish feed production and pro biotics specifically for aquaculture and poultry. U can reach me on newrevolutionglobal@gmail.com

Do you own or manage a fish farm?

Where are you based?

aussig:


My observation is that a lot of the so-called entrepreneurs just want to have bragging rights to be able to call themselves "CEO".

Unfortunately they do not understand that being a business owner comes with a lot of responsibilities.

When you're the CEO the buck stops on your table, the survival or failure of the is entirely up to you, you need to be ready to go the extra mile to make sure the business works out.

A number of the promoters of these new start up do not want to take risks with there own resources, they want to push the financial risk to the investor so they can easily exit the business if something goes wrong.

Then there are those who are not sincere but are looking for a way to scam you under the guise of looking for an investor for their new business.

I would advise any potential investors to be wary of any start up where the promoter is asking you to invest in an intangible asset or expense, especially something whose value is difficult to ascertain.

You need to be sure that the asset of expense being acquired or incurred will result in commensurate addition of value to the business before you make a committment

Appreciate your spirit of commitment so far, permit me to register this for the purpose of survival of this great gesture.

In investment plans, good evaluator would sustain that there are several areas at which the business owners stake their commitment and sacrifice for the business which will mention but a few.

INSURANCE, any sustainable business proposal will constantly indicate commitment through the comprehensive insurance package which is one of those security the investors can bank on should anything happen, it's simply a matter of following up with the insurance coverage to evaluate the safety of investment.

ASSETS. An entrepreneur who has scale through the process of asset declaration and has provided audited account statement with current tax clearance from relevant authority has really scale through some.height of commitment and has demonstrated competence to a certain extent. If our country happened to well structured, such entrepreneur is entitled to disaster bailout in an obvious case of imbalances and business collapse.

To save the time, potential investors needs to really understand certain process of evaluating an entrepreneur beyond asking her to provide 60% of the entire investment. No entrepreneur with financial means of 60% of entire investment would want to expose his or her business to a third party and pass through some of these...

In reality, 80% investors and entrepreneur cannot scale through the stress of obtaining a valid tax clearance certificate, not many Nigerians have a plot of land in his or her name, I feel so agitated that a potential investor would look than on an entrepreneur who already have plot of land with genuine document and already in good tax evaluation with Nigerian government despite the hardship melted on Nigeria investors.

Only foreign investors are wooed with tax holidays, indigenous business owners are never placed on tax holidays, despite that we struggle to have our heads beyond the tides..

In short, many factors constitutes credibility in business management settings and not just that physical cash alone...

My humble piece..

Telephone: 09032141785
Positoh street Heninawa quaters
Ajara, Badagry Lagos
Email: akanbiade40@gmail.com

Fund Appeal Proposal
Naati Brahms shoes collection is a business enterprises based in Badagry Lagos state. It has been in operation since 2007 and as it intends to become one of the leading shoe and footwear manufacturing companies in Nigeria and international market.
The shoe-making sector is one of the fastest growing in the Nigerian fashion world people are now beginning to patronize made in Nigerian shoes. The profitability of individual shoe and footwear manufacturing companies depends on their ability to design and market shoe models that effectively target consumers’ tastes and preferences. Large shoes and footwear companies have economies of scale in distribution and marketing and small-scale shoes and footwear companies can compete successfully by crafting customized shoes and footwear based in their client’s preference.
The shoe making Business is a lucrative one in which you can make double the money invested in making a pair of shoe.
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can be either low or high depending on your goals, vision and aspirations for your business.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.
Already these are the areas in which we have covered,
* The Total Fee for Registering the Business
-#25000
*shop/ work space
-#120000
*Tiger 2500w generator
-#50000
*straight sewing machine
-#30000
*Industrial sewing machine
#-90000
* 12 set of last each pair valued at
-#60000
*Tools valued at
-#50000
*Miscellaneous
-#50000

We already have this above -mentioned procurement estimated at #475000
Naati Brahms, is a private owned business who's is looking forward for an investor who can contribute financially for the expansion of productivity.
These are the areas in which the company will be needing fund for an effective and large-scale production,
* branding
*Advert
*raw materials
Proposing for the production of 50pairs of shoes every month
*1aquare foot of leather 200 and a shoe will consume 6pairs on the average
(200*6*50)=60000
*rubber sole a pair 1000
(1000*50)=50000
*Packing box 1000 each
(1000*50)=#50000
*labour 3people
#60000
*media Advert
#30000
*Gum
#15000
*transportation
#15000
*fuel
#9000
*Accesses
#20000
*liner
#9000
Totaling #308000, hundred and eight thousand
Each shoe will go for #15000 at the average and #12000 as least.
(#15000*25)=375000
(#12000*25)=300000
Gross = #670000
#670000-#308000=
Net profit= 362000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major loss incurred
As far as Naati Brahms is concerned money has to be injected for the expansion of the business the profit sharing agreement will be based on agreed terms of percentage of the net.
We are aware that, if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Kind regards.
CEO Naati Brahms (Ahmed Abdulfatai)

My best selling sandal

Jilingori:

Telephone: 09032141785
Positoh street Heninawa quaters
Ajara, Badagry Lagos
Email: akanbiade40@gmail.com

Fund Appeal Proposal
Naati Brahms shoes collection is a business enterprises based in Badagry Lagos state. It has been in operation since 2007 and as it intends to become one of the leading shoe and footwear manufacturing companies in Nigeria and international market.
The shoe-making sector is one of the fastest growing in the Nigerian fashion world people are now beginning to patronize made in Nigerian shoes. The profitability of individual shoe and footwear manufacturing companies depends on their ability to design and market shoe models that effectively target consumers’ tastes and preferences. Large shoes and footwear companies have economies of scale in distribution and marketing and small-scale shoes and footwear companies can compete successfully by crafting customized shoes and footwear based in their client’s preference.
The shoe making Business is a lucrative one in which you can make double the money invested in making a pair of shoe.
In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting / leasing a big facility, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.
This means that the start-up can be either low or high depending on your goals, vision and aspirations for your business.
The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.
Already these are the areas in which we have covered,
* The Total Fee for Registering the Business
-#25000
*shop/ work space
-#120000
*Tiger 2500w generator
-#50000
*straight sewing machine
-#30000
*Industrial sewing machine
#-90000
* 12 set of last each pair valued at
-#60000
*Tools valued at
-#50000
*Miscellaneous
-#50000

We already have this above -mentioned procurement estimated at #475000
Naati Brahms, is a private owned business who's is looking forward for an investor who can contribute financially for the expansion of productivity.
These are the areas in which the company will be needing fund for an effective and large-scale production,
* branding
*Advert
*raw materials
Proposing for the production of 50pairs of shoes every month
*1aquare foot of leather 200 and a shoe will consume 6pairs on the average
(200*6*50)=60000
*rubber sole a pair 1000
(1000*50)=50000
*Packing box 1000 each
(1000*50)=#50000
*labour 3people
#60000
*media Advert
#30000
*Gum
#15000
*transportation
#15000
*fuel
#9000
*Accesses
#20000
*liner
#9000
Totaling #308000, hundred and eight thousand
Each shoe will go for #15000 at the average and #12000 as least.
(#15000*25)=375000
(#12000*25)=300000
Gross = #670000
#670000-#308000=
Net profit= 362000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major loss incurred
As far as Naati Brahms is concerned money has to be injected for the expansion of the business the profit sharing agreement will be based on agreed terms of percentage of the net.
We are aware that, if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Kind regards.
CEO Naati Brahms (Ahmed Abdulfatai)

How come is it that you have been running a business for 13 years and you never considered it necessary to register a business name?

Do you have any proof to show that this business has been in operation since 2007?

What was your monthly turnover for the last 3 months?

Do you have bank statements that prove this?

We began to use mobile phone in 2003 so most information could not be kept,and then business was not as easy as now,then the small scale business find it hard to spread onlike now.i have registered my business,yes I have an account statement.

Here is my business registration certificate

Here are some of my old post on facebook

My monthly turned over for the last 3 month was about #300k

Jilingori:
We began to use mobile phone in 2003 so most information could not be kept,and then business was not as easy as now,then the small scale business find it hard to spread onlike now.i have registered my business,yes I have an account statement.

I would contact you later before the end of this week to get more details from you.

Please note that I shall do a thorough due diligence to confirm whatever info you provide therefore you must have third party documentary evidence to back up your claims

Sure I do

lonelygem:


Appreciate your spirit of commitment so far, permit me to register this for the purpose of survival of this great gesture.

In investment plans, good evaluator would sustain that there are several areas at which the business owners stake their commitment and sacrifice for the business which will mention but a few.

INSURANCE, any sustainable business proposal will constantly indicate commitment through the comprehensive insurance package which is one of those security the investors can bank on should anything happen, it's simply a matter of following up with the insurance coverage to evaluate the safety of investment.

ASSETS. An entrepreneur who has scale through the process of asset declaration and has provided audited account statement with current tax clearance from relevant authority has really scale through some.height of commitment and has demonstrated competence to a certain extent. If our country happened to well structured, such entrepreneur is entitled to disaster bailout in an obvious case of imbalances and business collapse.

To save the time, potential investors needs to really understand certain process of evaluating an entrepreneur beyond asking her to provide 60% of the entire investment. No entrepreneur with financial means of 60% of entire investment would want to expose his or her business to a third party and pass through some of these...

In reality, 80% investors and entrepreneur cannot scale through the stress of obtaining a valid tax clearance certificate, not many Nigerians have a plot of land in his or her name, I feel so agitated that a potential investor would look than on an entrepreneur who already have plot of land with genuine document and already in good tax evaluation with Nigerian government despite the hardship melted on Nigeria investors.

Only foreign investors are wooed with tax holidays, indigenous business owners are never placed on tax holidays, despite that we struggle to have our heads beyond the tides..

In short, many factors constitutes credibility in business management settings and not just that physical cash alone...

My humble piece..

From an investors point of view putting money in a business goes beyond just having insurance, assets and cash.

The promoter has to have a workable model and that includes having a business idea which will bring in a constant flow of cash in order to payback the investment and also provide profits.

You mentioned insurance a means of providing comfort. There is no single insurance policy anywhere that provides coverage against all perils. What you may have is insurance on assets, insurance against lost of profits, fiduciary insurance or insurance against theft.

It is next to impossible for a start-up company to be in a position to pay for all these insurance policies at the same time.

Another point you mention is assets, It's not just enough for the promoter to claim he has an asset to be used as security for the funds from the investor. It is important to be sure that the assets has good title which rests in the promoter or his business, and that the asset is in a location that has commercial value.

Concerning the issue of equity contribution by the promoter you are of the opinion that asking the promoter to contribute 40% of the equity is high.

Personally I would peg the minimum equity contribution from the business promoter at 30%. If you have a good business idea and you are not ready to bring in at least 30% of the equity it means you're running away from risk which invariably suggests that you're not even confident the business will succeed.


Having said all this I still maintain my stand - I will NEVER again invest in any start-up with less than 18 months period of operation except in very special circumstances.

Cheers

Welcome back from the lockdown, I hope we can all pick up the pieces and proceed with our lives

Starting from Sunday, I will be sharing some pointers based on my personal experience what I think you should look out for when making an investment in a small company.

I'm still open to investing in good and viable business ideas that have been tested so if you have any let's hear it

I promised to provide some pointers to would-be investors on what to look out for before making an investment.

The first in the series will start today.

Enjoy reading...

Always do due diligence before investing

The importance of doing a due diligence before making an investment cannot be over-emphasized. Be sure to verify whatever the business promoter tells you. Do not make any assumptions. You have a right to obtain all relevant information since you are planning to stake your money in the business which in effect means you will be exposing yourself to the loss of capital.

Part of the things you need to check is to be sure that the business owner actually has the competency and experience to run that business.
One of the biggest mistakes you can make is to put your money in a business where the principal owner does not understand the business or where he does not fully understand the trends in the business yearly cycle.

The learning curve will be much longer and the risk of loss is higher.
Always ask for evidence of past performance of the business. The best place to get this is from the bank account of the business.
Do not rely solely on internal records of the business owner because this can be manipulated to give the impression that there is an on-going business.

When reviewing the bank statement look out for payments from customers and clients and also payments to suppliers and other creditors. The bank statement does not necessarily need to have a large closing balance but it should have regular transaction flow which indicates presence of business activity.
The bank statement will also show you exposure of the business to external debt which you need to be aware of before you put in your money.
If the business has a large debt profile which it cannot justify by either presence of physically assets and the profit margins are very thing it’s best to walk away from the deal.
Other things you need to check for are:

- Licences and authorization to carry on a business

- Contracts between existing business partners

- Competitors to the business

- Review cycle of flow of cash in the business and internal controls to be sure there are no leakages

aussig:
I have idle sum of N1 million which I want to invest in at least 3 different businesses

Please send in your proposals if you have any viable business you are running which requires infusion of a little cash to help expand its operation.

Conditions potential investees must meet

- Business must be registered with a name from Corporate Affairs Commission

- Business must have been in operation for at least 18 months

- The business must actually be involved in the production of an item or rendering or services (Online businesses such as forex trading, bitcoin trading, multilevel marking etc are not acceptable)

- You must demonstrate a complete understanding of the business you are promoting including knowledge of the business trends and seasonality therein

- You must prove that the business is making money and has potentials

- No middle men or agents allowed, I will only deal with the business owner directly

The whole business concept must be outlined here on Nairaland; there will be no telephone communication until you are able to convince me that the business venture is worth the risk.

Seeking for a business to Invest/looking for funds to start a business; Join our platform. Indicate interest below
https:///Cxd8IFLF4wAJ4NHWjPW411

meet with startup entrepreneurs in our whatsapp forum

Inteltower:


Seeking for a business to Invest/looking for funds to start a business; Join our platform. Indicate interest below
https:///Cxd8IFLF4wAJ4NHWjPW411

meet with startup entrepreneurs in our whatsapp forum

I no longer invest in startups cos the probability of failure is much higher with attendant loss of capital.

I prefer to invest in young profitable companies that have reached at least 3 years but require additional infusion of funds to scale up their operations.

aussig:


I no longer invest in startups cos the probability of failure is much higher with attendant loss of capital.

I prefer to invest in young profitable companies that have reached at least 3 years but require additional infusion of funds to scale up their operations.

well Sir in our Forum we have such entrepreneurs with such businesses you are looking for to invest. kindly join the platform & we will further guide you on what to do

Remember to ask all necessary questions
Do not make any assumptions when considering making an investment in a business. It is usually very difficult to retrieve your money once you have made a transfer to an investee especially if it turns out to be a bad investment therefore you need to be absolutely sure that you are not dealing with a scammer or someone who is genuine but is incompetent or making bogus claims.
Before you make an investment or financial commitment make sure you ask all necessary questions and obtain safisfactory answers before you proceed.

Personally for me if I notice that the person is reluctant to provide answers or does not know the answers to questions about the business I just back off and walk away from the deal.

Some of the questions you need to ask are:
- How long has the business been in existence?

- Is it an incorporated business or registered business name? (This question is very important)

- Does the business have a dedicated business bank account?

- What service or product does the business sell to the public?

- How do clients make payment?

- Does the business sell on credit?

- What are the controls in place to make sure there are no leakages?

- What are the immediate future growth plans for the business?

- Why does the business need additional capital?

- How much has the promoter committed to the business?

- Will the new cash to be invested be classified as a loan or equity?

- What is the agreed interest rate or dividend?

- What will be the exit strategy for the investor? (if any)

The questions I have listed are not exhaustive so you can come up with other questions that will give you and insight on the type of business under consideration.
The general idea is for you to have a view of the business that will enable you assess the risks involved and thereby make an informed decision.
Do not take all the answers you receive as the gospel truth. It is your responsibility to do an independent check or verification of your own based on the answers you receive.


...to be continued next week

Inteltower:



well Sir in our Forum we have such entrepreneurs with such businesses you are looking for to invest. kindly join the platform & we will further guide you on what to do

The link you posted is not working.

Please ask entrepreneurs who meet the conditions outlined on the first page of this thread to contact me.

I will not deal with a middleman

The business must have been in operation for about 24 months or 18 months at the very worst.

It must also have a dedicated bank account.

It must be based in Lagos

Proposals should be sent to this email:-
aussigfinance@gmail.com

aussig:


The link you posted is not working.

Please ask entrepreneurs who meet the conditions outlined on the first page of this thread to contact me.

I will not deal with a middleman

The business must have been in operation for about 24 months or 18 months at the very worst.

It must also have a dedicated bank account.

It must be based in Lagos

Proposals should be sent to this email:-
aussigfinance@gmail.com

well sir our policy doesn't work like that. and we don't give out out members to an outsider.
+2348136156015 contact me on whatsapp to add you

oscarvicto:


I have 7 years experience on complete value chain of rice. From planning, harvesting , milling, de stoning and bagging

I

In your opinion which state in Nigeria has the best quality locally produced rice?