dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

Start your business and for the main time, act as a supervisor and manager. Go to your work and when you close from there, go straight to the bakery business and stay there to oversee things.

For this to work, get a competent person to run it technically and administratively full time for the time being.

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

Here to learn. I have always wanted to own a fancy bakery but I don't know jackshit about the business.

Do your market survey, buy and taste other breads first. Know their weights ( very important) solve any power issues, i.e be sure of steady power cos power failures mid production can swiftly lead to big losses, choose your target market carefully, high class areas prefer jumbo loaves, clean and sliced. Middle class areas and slums prefer medium to small loaves (not really minding the taste) they just want the stomach filled. Lastly dm me, I can get you a superb recipe.

Why did you open the business if you were not sure if it will fly. Confidence plays a huge part in sole proprietorship, you must believe in yourself and the prospect of your business.

As a newbie in the business, you should manage it yourself, so that you can know the ropes before handing over to anybody, if not all you will be doing is poverty alliviation.

To break even in bakery business you must have a good distribution network.
A means to push out your products to the retailers.

Good luck.

northbird:


What's your wife doing? Is she currently working...
You can test waters for 3 months by getting your wife to oversee the bakery for two days ( Tuesday and Thursday). You will run staggered production... For now operate strictly 3 or 4 day week cycle.

Tuesday, Thursday, Saturday and Sunday.
While you take over weekends ( sat & Sun)

See how it goes for the 3 months,then you decide whether to go full scale.
Target the retail end... ₦100,150,200 ₦500. units of bread move faster... ₦150 and ₦200 especially if you live in a youth dominant environment.

Congrats chief, bread money is daily money..

So much wisdom

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

Whatever you choose to do! Believe so much in it, find ways to make it better everyday and you should be good. It is a wonderful step, I would say.

It's a surer way. Just ensure to go with a superior determination to succeed in it and you will. May u find grace to prosper therein.

Minjim:
Bakers are cashing out these days.

Imagine a loaf of bread for 1k. Bake 100. That 100k

A bag of flour is 29k, bag of sugar is 32k, a litre of gas is 900... they don't really make it anymore, and mind you, you have to replace any bread not sold by your customer.

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

Pls go ahead

You are on the right path

By the power of the most high God, I command that spirit of fear from you in the name of Jesus!!

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

You have already implemented the only advice I have for you. Which is to start the bakery as a side hustle. I understand your fear of business collapse. Do not stop your job, look for a way to make the bakery work without you always being there. The business environment in Nigeria is very hostile.

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

Dont resign not untill ur business is running and yielding enough profit and stable income.

A bakery Is a business ur wife or an experienced young bakery staff can run on ur behalf till u can access the potential profitability and decide if its worth resigning.

Note:
Leaving ur job for ur new business is still relying on 1 source of income and even an untested source of income for that matter meaning its not yet reliable.

Goodmanamen:
Please don't leave the 100k job ooo

Bakery is a nepa kind of business not stable oo

I even sold my own out sef

what happened ? why you sell your own? were you absent in the production ?maybe your former worker stealing your flour

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

Instead of leaving the job test run it with your wife as manager before leaving the bank job to face the bakery business

tnerro1:
Start sharp sharp, inflation is killing the salary earners ooooo

True talk

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

People survive with 100k job?
I did 100k job since 2009

CzarChris:
Best decision ever, I was discussing with a friend about this last night. Salary earning no matter how good it is, isn't worth it. I've not received salaries for some months now, Thank God for my consulting gig that has helped me not turn into a beggar. With months of no salary, even if my salaries get paid tomorrow, I'm going to concentrate on my consultancy services and probably expand into other businesses. I now see my main job as a side hustle.

My experience though.

Make una dey calm down with motivational speech abeg. Salary pass salary.

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

Have you carried out the feasibility study? In this administration, I'll advise you suspend such plan for now. Bakery items keep increasing daily if not weekly.

OP. If that is what you want plz go for it but don't leave the bank job for any reason.
You should consider the bakery as your side hustle cos if there is loss in one the other can sustain u

aylive02:



Have you considered the pros and cons? If you are sure to have saved enough, please leave the bank job. From my experience, the bakery business no be for the faint-hearted o.

Good point! I just hope he considers the pros & cons.

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

What type of Business Is that?

Minjim:
Bakers are cashing out these days.

Imagine a loaf of bread for 1k. Bake 100. That 100k

Typical layman analysis

"Imagine a loaf of bread for 1k. Bake 100. That 100k "

What about production cost
Raw materials
Labour
Diesel to power machines
Marketing
Packagings
Transportation from one retailers to another.
Tax

You think say na moimoi. To just dey calculate 1000*100

Note: 3 to 5 days this bread is gone! Already spoilt. You have just 3 days else you're in loss.
Infact Nigerians only like today's bread. Once it's not soft as today bread, they will drop it and pick next one.

That money wet u save get more to it and travel out forget bakery

northbird:


What's your wife doing? Is she currently working...
You can test waters for 3 months by getting your wife to oversee the bakery for two days ( Tuesday and Thursday). You will run staggered production... For now operate strictly 3 or 4 day week cycle.

Tuesday, Thursday, Saturday and Sunday.
While you take over weekends ( sat & Sun)

See how it goes for the 3 months,then you decide whether to go full scale.
Target the retail end... ₦100,150,200 ₦500. units of bread move faster... ₦150 and ₦200 especially if you live in a youth dominant environment.

Congrats chief, bread money is daily money..

You speak intelligently

Our people use to say that "before you throw away dirty water make sure you have a clean one to replace it"....

Bread production is a very lucrative business

boss we have all bakery machines ranging from ovens to mixers to bread slicers etc. 08032956193.

I left my job with same salary 2 yrs ago to start same business ( bakery) and I have about 20 workers now. For me, I had over 5yrs experience in the industry before I started mine. And I can tell you the business is not easy and lots of ever dynamic parameters are involved,but if you are dogged and ready to look older than your age then you are good to go.

Minjim:
Bakers are cashing out these days.

Imagine a loaf of bread for 1k. Bake 100. That 100k

Na so e easy!!! Haba!!

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

Nothing pays like your own personal business, but don't just quit like that, make she the business is strong to some extent b4 quitting.


Is all about preparation.
So make sure you do the needful.

Please don't resign from your Job, let the bakery be your side hustle.

Kindly note that for you to make any profit at all you have to produce at least 3 bags of flour per day. Anything less than 3 bags will lead to loss.

dennis3888:
Good day everyone please i need your candid advise and opinion

Am about to leave my bank job of seven years with a salary of 100k for a new business note the business has already been set up already

my fears is that am married and you know what that means i have ready responsibilities. so am now having fears that what of it doesn't work (which have been praying about seriously).


probably the fears is just in my head. your opinion please

Before you resign, make sure you find time to go and learn how to make bread from start to finish.
Bakers will ensure you close down the business within 3 months if you rely on them as a manager without knowledge of baking

Don’t leave your salary job until the bakery starts paying. You can employ someone to over see it.

Peritome:


Have you carried out the feasibility study? In this administration, I'll advise you suspend such plan for now. Bakery items keep increasing daily if not weekly.

Bakers are crying in the news everyday about rising cost of production. At one time they even wanted to stop producing if i remember correctly.