I have been nursing a business idea for a long time (6 months) now and I have have been saving towards. Currently I have save up to 220k.

I must say through my study I have come to discover that this business is all about location. Last month I tried looking around for a place but all the place I got doesn't not fit the business. And I know for a certain that the business won't do well, if I decide to put in any of those places.

So when i was nursing this idea, there is a particular store i wanted, this store checks all the boxes for my business to thrive

Space
Accessibility
Availability
Market.
School
Less competition

But the issue now is that, there someone already in the shop doing. One of d business I will like to add to the main business I want to be doing there. Although not the main business I want to do there. So the business I want to do on d store is actually 3. The man is doing just one.

So recently, 2 days back April 24th. I saw the man that occupied the store packing, I asked why he was packing. Neighbors told that he family don't want him to stay there because of his drinking habit. ( The place is close to a bar,The man dey waste he life) well that's not my business.

So as at yesterday, I went to meet the landlady of the place to acquire about the place.
So she gave me the break down.

Rent is 150k total package is 250k.

And as it stands now I only have 220k. I can hustle round I get 30k. But after that I would need another 150k to set that place up and running. ( I have already bought some equipment, in preparation of the business).

My issues now is should I go ahead and take the shop, am kind of scared because that my life savings and what if I don't get d remaining 150k.
What now happens?
These things are running through my mind, I can't sleep.

Please nairaland business gurus what do you think?
I have a friend he said I should take the shop first and then use 1 month to look for the money even it's to borrow. Currently I work as a costumer service agent. My salary can't cover it. I can't get 100k in a month talk less of 150k. My salary is just 45k. Per month.

Please I would like to know what you guys think. I have just today or tomorrow or someone else will take the shop.

Please, if you can't help me with money, help me with good advice, I will appreciate it.
I will be in the comment section.

A woman and her family once had few hundreds of thousands of naira, so they agreed to get a shop to trade some stuffs, so as not to lose the money as the money wasnt enough to get the shop, and stock up the shop, they decided to pay for the rent first. So, every morning, they opened the shop, cleaned up the place... Hoping for the money to stock up to arrive. After one year, they realised they've just rented a shop to clean up for the landlord. They handed over the keys and were even more sorrowful.

Save up first to avoid putting pressure on you.

Softboy001:
I have been nursing a business idea for a long time (6 months) now and I have have been saving towards. Currently I have save up to 220k.

I must say through my study I have come to discover that this business is all about location. Last month I tried looking around for a place but all the place I got doesn't not fit the business. And I know for a certain that the business won't do well, if I decide to put in any of those places.

So when i was nursing this idea, there is a particular store i wanted, this store checks all the boxes for my business to thrive

Space
Accessibility
Availability
Market.
School
Less competition

But the issue now is that, there someone already in the shop doing. One of d business I will like to add to the main business I want to be doing there. Although not the main business I want to do there. So the business I want to do on d store is actually 3. The man is doing just one.

So recently, 2 days back April 24th. I saw the man that occupied the store packing, I asked why he was packing. Neighbors told that he family don't want him to stay there because of his drinking habit. ( The place is close to a bar,The man dey waste he life) well that's not my business.

So as at yesterday, I went to meet the landlady of the place to acquire about the place.
So she gave me the break down.

Rent is 150k total package is 250k.

And as it stands now I only have 220k. I can hustle round I get 30k. But after that I would need another 150k to set that place up and running. ( I have already bought some equipment, in preparation of the business).

My issues now is should I go ahead and take the shop, am kind of scared because that my life savings and what if I don't get d remaining 150k.
What now happens?
These things are running through my mind, I can't sleep.

Please nairaland business gurus what do you think?
I have a friend he said I should take the shop first and then use 1 month to look for the money even it's to borrow. Currently I work as a costumer service agent. My salary can't cover it. I can't get 100k in a month talk less of 150k. My salary is just 45k. Per month.

Please I would like to know what you guys think. I have just today or tomorrow or someone else will take the shop.

Please, if you can't help me with money, help me with good advice, I will appreciate it.
I will be in the comment section.

Don't pay for the shop until you have the money to equip it so you can start the business immediately you make payment.

Once you make rent payment the landlady start counting for you, it's not her business whether the shop is generating revenue or not!

Fair enough. I have heard. Thanks

its good to have another source of incom,since ur a salary earner,take d risk and mk d payment

You would have gotten an apt advice if you had stated the kind of business ! Howbeit do not pay for a rent without been fully ready to commence your venture or business.
Kindly be more explicit so i can suggest if you can operate virtually...in this era of tech advancement it has shown that not every business require a shop or locational operation.

In another news if you need leads towards aquiring the right sales funnel to make as much as 1million customer base via online then reach out.....even if your profit is $1 per customer you are good to go.


@Seniorwriter

Softboy001, you shouldnt just start a business just because you want to.look around you to see what people want to buy.i sent you a dm.