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Business Advice Needed by OnyeAmuma: 5:20pm On Feb 26, 2020
Please I need an advice
I have a personal business(Laundry) on Lagos mainland which gives me net profit of N150k averagely every month, and that's my only source of income. I have done everything within my power to maximize my profits but it has been the same for almost one year. Currently, I'm thinking of getting a car which can serve for both business and pleasure, the reason is that sometimes I have client's request from the island and other locations outside my place of establishment, but I find it hard to deliver due to distance. My budget for a car is below N1million, but I don't know if that will be a right choice, or if there is something else I can do with that amount to bring more profits/incomes. Please advise...thanks

CC: Dominique, Mynd44, lalasticlala kindly push this to front page to help me get good number of suggestions. Thanks
Re: Business Advice Needed by icon02(m): 5:33pm On Feb 26, 2020
There are several angles to this, first I'll like to know if you charge for home delivery



Good.. since delivery will be a new stream of income for you, then you can go for the car.

If i understand your initial worries properly, you want to make more money so for this reason, bear it in mind that you are buying the car for the business and not for personal reasons.

Ultimately, you need to scale up your dry cleaning business to be 21st century compliant.
You now have a car dedicated for uptake and delivery, so sourcing for customers from every nook and cranny of lagos should be your target.

I'll really love to coach you personally cus I have a fair knowledge about running a 21st century dry cleaning outfit. I understudied one during my time at business school.
Re: Business Advice Needed by dawnomike(m): 5:34pm On Feb 26, 2020
Well, since the car you plan to buy will also aid you're business in some ways... The you can go for it. But, make sure to buy a good car that will not turn into a money gulping venture in the future biko.

NB: I advise you hold-on, save more a buy a good car if possible a good foreign used.
Re: Business Advice Needed by OnyeAmuma: 5:37pm On Feb 26, 2020
icon02:
There are several angles to this, first I'll like to know if you charge for home delivery

Yes I do, but moderately, especially outside my location, but it is free within my location.
Re: Business Advice Needed by OnyeAmuma: 5:39pm On Feb 26, 2020
dawnomike:
Well, since the car you plan to buy will also aid you're business in some ways... The you can go for it. But, make sure to buy a good car that will not turn into a money gulping venture in the future biko.

NB: I advise you hold-on, save more a buy a good car if possible a good foreign used.

Thanks....I think getting a good car is by luck. My neighbor bought a very neat tokunbo car but it has been giving him issues.
Re: Business Advice Needed by darexkey(m): 4:31am On Feb 27, 2020
Don't buy a car now since your business goal is to increase your profit. You won't be surprised that the car will be taking out of your profit or even the whole profit monthly.

The best thing you can do is to get a brand new delivery bike, learn how to drive it yourself and use the remaining amount to diversify into another business that can fetch additional income. There are so many businesses you can do out there that will fetch you additional income such as ICT, Agriculture, T-shirt branding, Soap making, Smoothie business and small chops business, etc.

Or you can as well partner with a logistics company to help you with the deliveries instead of buying a bike. Your clients should bear the cost of delivery.
Re: Business Advice Needed by OnyeAmuma: 7:14am On Feb 27, 2020
darexkey:
Don't buy a car now since your business goal is to increase your profit. You won't be surprised that the car will be taking out of your profit or even the whole profit monthly.

The best thing you can do is to get a brand new delivery bike, learn how to drive it yourself and use the remaining amount to diversify into another business that can fetch additional income. There are so many businesses you can do out there that will fetch you additional income such as ICT, Agriculture, T-shirt branding, Soap making, Smoothie business and small chops business, etc.

Or you can as well partner with a logistics company to help you with the deliveries instead of buying a bike. Your clients should bear the cost of delivery.

Thank you..points noted. But I must say that bike is not ideal for the business, some clothes requires hanging(suits, dinner gown, some shirts etc) and you can't deliver them with bike. Also, I want to be able to lobby some customers from the island, I feel the addition of the car will boost the image of the company.

Lalasticlala please help my ministry.
Re: Business Advice Needed by Skyfornia(m): 8:45pm On Feb 27, 2020
I feel the car will help you, to operate a laundry business, you need car or truck for pick up and delivery.

Mod help this guy out

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