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Stats: 2,966,501 members, 7,199,396 topics. Date: Sunday, 04 December 2022 at 07:15 AM
|How To Overcome The Post Covid-19 Lockdown Recession Recession by Bionica: 2:05pm On Apr 24, 2020|
This thread is targeting the unemployed and those who have recently lost their jobs and are desirous of making sure they have at least a basic daily income after the COVID-19 break.
It would have been very obvious to many people now that life is going to be very demanding in the immediate post lock-down experience.
Survival will be even more difficult for those without an income. While I do not wish to be negative in my assumptions I would nonetheless postulate that a lot of already working people will lose their incomes and then companies that were about recruiting are going to have a second thought about it which will result in some delays.
Apart from the imminent downsizing, there will also be significant pay cuts in every industry. The entire gamut consisting of salaries, commissions, bonuses will be reviewed downwards to reflect the economic trend.
This may be a temporary measure as things are likely to pick up again after a while. This will put more pressure on the system as people must still eke out a living despite all odds.
So how prepared are you to face the challenges that this scenario will present? This question even becomes more relevant for the unemployed and underemployed members of our population.
This thread should be able to identify a few things that you can involve in that will bring you some survival money immediately after the lock-down is lifted.
Please note that my suggestions here will only capture small and micro efforts that will probably not yield more than 500.00 to 1,000 and maybe 2,000 daily. I am however consoled by the fact that if someone earns the lower limit (500.00) consistently it will translate into 3,000 per week and 12,000 per month.
This would not be considered bad if one is to view it from a modest perspective especially if the immediate past earning was zero Naira. By way of summary, I don’t think we will be offering solutions to the big guys here. We will only be dealing with the people who are at the end of the earning tether.
The best approach from my experience is to start out selling something in your neighbourhood.
I have gone through a thread here on Nairaland that carried out an expose on eggs distribution. It was a wonderful thread while it lasted. Eggs are consumed in quite a large number especially in the metropolitan cities in Nigeria.
Of course it looks like a most basic trade but if you have the good fortune to meet sincere distributors of this product you will be shocked at the volume that is consumed and by extension the profits the distributors make. This is even made more attractive by the fact that it is an unregulated market so you have entrants welcome into the business at different levels.
Your best bet is to start out small. Seek out new poultry farmers who seek off-takers for their products. Then gradually build up a customer base that can be increased steadily everyday.
I used to think that a car is a necessity for you to start this trade but I found out that for those starting small you really do not need a car initially. You can have the farmer deliver the eggs to you at your location and then you can begin to redistribute the eggs in your immediate neighbourhood.
Eventually, most of your customers will seek you out and will even come to pick the eggs. Another option which may be very profitable for you is where the egg farmer located upcountry sends you eggs with his truck and you now act as a broker.
This implies that you would have negotiated with large buyers and when the eggs arrive your location you and the driver will just distribute the eggs to the customers and collect cash. You then deposit the money into the farmers account after deducting your own predetermined commission.
I have seen this model in action and I must say it is beautiful. A former colleague of mine has eggs sent to him from the outskirts of Ibadan. He gets about 2000 dozens once a week and he sells to his distributors who are in a particular area of Lagos and he gets cash.
He is given 20.00 per crate which translates to 20.00 x 2000 crates. Do the math and see if this is a profitable venture. Meanwhile, bear in mind that this is a once a week episode and it takes less than 8 hours to complete the entire transaction.
It is important that I mention here that before I arrived at this eggs distribution business as a possible model for those who seek a consistent income I have done extensive research on the eggs business.
I have even visited some Nairalanders here who started out small and now have reasonable sized egg depots within Lagos. Some of them that I personally witnessed their starting out have made a great showing in this business and with little capital too. Of course there will be some cons and intrigues in the business but honestly it is worth trying. I also understand that this is just about the best time of the year to start the eggs business.
The most important thing to do here is to
1. Decide if this business is for you.
2. Conduct a small but in-depth research on the business taking due cognizance of your environment and your present circumstances.
3. Take action by starting small and building up.
My next post will examine another area where small timers can actually make an entrance and begin to draw benefits immediately.
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