Hi
She is into food stuffs business. After selling all her goods( in this case Garri) at N500/painter, she went to buy and the price is now N1,400/paint for wholesale.

Is it ok for her to go home with her money without buying or she should buy and sell at the rate others are selling?

onyfrank:
Hi
She is into food stuffs business. After selling all her goods( in this case Garri) at N500/painter, she went to buy and the price is now N1,400/paint for wholesale.

Is it ok for her to go home with her money without buying or she should buy and sell at the rate others are selling?

Yes buy at the current market price and sell. Ensure you sell on time

onyfrank:
Hi
She is into food stuffs business. After selling all her goods( in this case Garri) at N500/painter, she went to buy and the price is now N1,400/paint for wholesale.

Is it ok for her to go home with her money without buying or she should buy and sell at the rate others are selling?

buy and sell per the market price but half of what she used to buy because the hike in commodity prices wont last long so she wouldn't end up losing

onyfrank:
Hi
She is into food stuffs business. After selling all her goods( in this case Garri) at N500/painter, she went to buy and the price is now N1,400/paint for wholesale.

Is it ok for her to go home with her money without buying or she should buy and sell at the rate others are selling?

She should buy at current price and sell at the new price in order to continue moving. Going home with the money will definitely keep her out of business. She should buy the little quantity her money can afford and she should ensure to sell off and restock quickly. She should also have the contact of her customer selling to her so she can maintain communication with him or her about the trends and state of things. The moment she calls and they tell her of new change in price, she should adjust immediately.

Now, the strongest advice for business persons in this pandemic period is, be sure to restock after selling and if u know u can't restock, then stop selling and close your shop. Let the remaining goods in your shop grow in value than having the cash loose value. (that is if you bought your goods when things were still OK) but if u are sure of where to restock from, u can continue.

What has happened to your wife now is that her money lost value. But she should not loose hope cos she would recoup it. Business is not easy but it is rewarding if u don't give up during the down time.

This period can mame someone go bck ro village, eternal scars

Honestly, all my suppliers stopped business cos of the lock down. I asked myself, if I sell off everything with the way my customers have been calling me, asking me to come sell to them, how do I restock? What if prices have gone higher then? I just tell them I'm not in town and no movement. Lol!

SadiqBabaSani:
This period can mame someone go bck ro village, eternal scars

Thanks all.