Savings, business is not for the faint hearted especially in Nigeria, you have to be dogged, determined, rugged and rough otherwise them go run you street

Joshuam1:
Please how do you guys get money for investment? Hearing all this amount people have put in business, I wonder how they got it.

Pls can you share a picture of the goats from South south

RentedReality:
I initially regretted opening an animal farm sometime in 2017.

Spent 600k on it. Imported those smelly he-goats from South South to the North only to realise there wasn't a market for ceremonial goats since it was so expensive and people really wanted the regular maradi or Sokoto red goats.

Then, one by one, they all died. It was sad because some were pregnant and I was expecting their numbers to grow.

The vet told me that they weren't resistant to a particular disease that was commonplace in the North since they were all bred from the south.

I counted my losses.

Anyways, I changed tactics and started selling rams instead. Fast forward to today and I'm still selling rams 🐏

Never give up

lizko:
Ox standing fan big size.

Do 1.5kva or 1.7kva

lavylilly:
Hotel business

At first i chopped money like there was no tommorrow, it a low budget hotel with sales of about 5k per night. Was banking in about 30k per day. It was like blood money for someone who has never made that much money from anything for like the first 6 months.

Mistake 1
About late last year, Nigeria happened and Buhari proved himself to why he was Buhari, inflation and purchasing power, i noticed people who still wanted to bring babes didnt have enough money left like that cos of food inflation etc. Most were now going for short time service which was 1500 naira for an hour. And as a man once you are done with what you want to do, your eye go clear till next time konjiii hooks you and you are back again.

So in essence i was cashing in more 1500 naira bookings instead of the 5,000 naira bookings resulting in less income per night

Mistake 2
When i was making crazy money per day, i too was forming big boy dashing people around money and acting like i had money, what people came to the hotel to do, me too i carried people to other expensive hotels to do.

Also i was repairing almost everything in the hotel customers will spoil, anything be painting the same wall over and over again

Meanwhile price of emulsion went from 4k to 12k minimum, i still would be doing renovations non stop

I even wanted to buy diesel generator at one point in time and give customers AC, Rooms that i know they wont still sleep in for less than 5k a night. Thank God i couldnt afford the diesel generator

Mistake 3- Ramadan period
Chai this period for like 2 months was hard ooo, its like everyone was holy and no one wanted to spoil thier fast, but once Ramadan ended, things went back to normal.

Conclusion
Save your money and put your money where your mouth is.

Now im still back but more clever now, I have stopped pointless renovations. And i have started saving my money,

Even now i have started lying to my staff that there is no money for renovations, lol the same people that remit 30k per day room bookings for me every day haha

Also im trying to do a palmwine lounge thing. I have noticed one thing its when people are drunk or tipsy thats when they start wanting to do the obvious.

Lead city university students too that always came to camp at the hotel and be doing party around the night looool

Chai

copy and paste weldone

grafixdon:


Igando Lagos

Is it the bar close to the bridge

MISTAICEY02288:


I'm In same situation right now. I am even looking for a way to dispose off the clothes now in wholesales prices so I can quit the business finally. The business is too slow in my area and most times, I struggle to sell just 2 dresses in a month. It's that bad.


Please what happened and how did you later go about it? Did you sell off the wears or how did you get over it...

if it's a male wears let me buy some like jeans , shirts, polo I will be paying you some some, am a civil servant, I will provide all traceable documents like my pic ,nin, driver license, work id, if you in reach on WhatsApp on my signature.

Paulson2020:
Regretted opening a betking shop lost million naira of my hard earned money to the business.... Sometimes life isn't fair

Uhh that's a huge loss bro.
So sorry for that.

Bet9ja is more reliable than betking jare

Lol... Back in uni me and my cousin started some okada business. Omor these riders na we come dey pay them after some time oo. Complaints no dey ever finish from their mouth. One problem to another small thing men done gather come dey enter repairs. After smoking and thinking hard. We summon all the riders took the okada from them and made arrangements for them back to Benin. E come be like them remove skyscraper from off my shoulders. Not to mention how some silly friends made a mockery of the move 🤦🏾‍♂️

SkyFi:

taaii !!! Don't say that !

It failed you because you put in money and expected quick returns, you may have also put in money that was not set aside for investment.
I was also naive in the past and made some decisions that made me loose value of my crypto investments, but I have learned a lot and now applying my experience in my decision making, mit is paying off already.



This is the time to make money in crypto with so many projects now all the prices are low. The price will only go up from here.

I can teach you 1 or 2 moves to start making profits on if only you have that spare change you can afford to loose !

Pls teach me

Finger Food Business
where i got the man made that place unapproachable with his ITK syndrome,I lost over 160k in a space of 2 months

GeneralKoko:
What business do you regret venturing into??

Share your experience

IyaTola:
Is it the bar close to the bridge

Yes

i lost over 2 million in 2020 to FOREX

imoh4king:
Forex.

Lost N3million

PLEASE IF YOU SEE PASS LET ME KNOW, I'M HONESTLY INTRESTED

Lemmy123:
I never start...

I'm looking to start a palm oil business

IyaTola:
Is it the bar close to the bridge

You know the bar, that's very correct. Agric road

grafixdon:


Igando Lagos

I'm base in Ibadan but if you don't mind, I can relocate and help u managing your business without regrets

Rubyjade:
Are you in Lagos?

Currently not in Lagos

I'M READY OOO

IyaTola:
Are you ready? Let me connect you

I'M READY BOSS TEACH ME

SkyFi:

taaii !!! Don't say that !

It failed you because you put in money and expected quick returns, you may have also put in money that was not set aside for investment.
I was also naive in the past and made some decisions that made me loose value of my crypto investments, but I have learned a lot and now applying my experience in my decision making, mit is paying off already.

This is the time to make money in crypto with so many projects now all the prices are low. The price will only go up from here.

I can teach you 1 or 2 moves to start making profits on if only you have that spare change you can afford to loose !

princejones:
I lost millions in futures trading, futures trading is worst than virtual betting

.

CONSISTENCY is BORING but it is indeed the KEY to SUCCESS👌

Take your time to build that business/project you are about to start.

Trust me, building takes time 😘

Don't spend one week in a sector and leaves for another the following week.

You are in fashion today, next week you're in agriculture...when they talk about technology, you are also there. In short, you're everywhere.

I'm not saying you can't have a legit side hustle oooo but be known for something.

Let's take for an instance, you start to build a house but you stopped after the foundation is being done then you go to another land to start another building. If you keep doing this, then you might never achieve a complete house.

You might think people aren't buying or interested in what you're doing at all but the truth is they are watching you.

Some might not even see you at that moment because foundations aren't always visible until the building starts growing.

People easily notice a complete building not a foundation.

Please do not give up...keep pushing 🙏

I've been there...I know what it feels like when people aren't appreciating what you do.

I'd like to encourage us to keep seeking knowledge and getting better at what we do as well.

There's something we were thought in chess...when you see a good move, look for a better one. This means you can always do better than what you are now.

You know I did not get to this place by luck, it is simply by hardwork and God's grace.

I love you & I'm rooting for you 🥰🤩

PoloG:
copy and paste weldone

Majority are counting their losses and regrets because they failed to make an enquiry before they ventured into those businesses. A bere ona o shina.

Whats your location?[/quote]

Xammie001:
I'M READY OOO

Rubyjade:
NEVER go with the flow in Business

lesson learnt the hardest way.

Which is approximately how much if u have any idea pls.

IyaTola:
Do 1.5kva or 1.7kva

Savings
where i work i use to see side money every month Then 140k outside salary so i save up to start but OLULE

Joshuam1:
Please how do you guys get money for investment? Hearing all this amount people have put in business, I wonder how they got it.

Ikorodu, Lagos

lavylilly:
Whats your location?I'M READY OOO

lavylilly:
Hotel business

At first i chopped money like there was no tommorrow, it a low budget hotel with sales of about 5k per night. Was banking in about 30k per day. It was like blood money for someone who has never made that much money from anything for like the first 6 months.

Mistake 1
About late last year, Nigeria happened and Buhari proved himself to why he was Buhari, inflation and purchasing power, i noticed people who still wanted to bring babes didnt have enough money left like that cos of food inflation etc. Most were now going for short time service which was 1500 naira for an hour. And as a man once you are done with what you want to do, your eye go clear till next time konjiii hooks you and you are back again.

So in essence i was cashing in more 1500 naira bookings instead of the 5,000 naira bookings resulting in less income per night

Mistake 2
When i was making crazy money per day, i too was forming big boy dashing people around money and acting like i had money, what people came to the hotel to do, me too i carried people to other expensive hotels to do.

Also i was repairing almost everything in the hotel customers will spoil, anything be painting the same wall over and over again

Meanwhile price of emulsion went from 4k to 12k minimum, i still would be doing renovations non stop

I even wanted to buy diesel generator at one point in time and give customers AC, Rooms that i know they wont still sleep in for less than 5k a night. Thank God i couldnt afford the diesel generator

Mistake 3- Ramadan period
Chai this period for like 2 months was hard ooo, its like everyone was holy and no one wanted to spoil thier fast, but once Ramadan ended, things went back to normal.

Conclusion
Save your money and put your money where your mouth is.

Now im still back but more clever now, I have stopped pointless renovations. And i have started saving my money,

Even now i have started lying to my staff that there is no money for renovations, lol the same people that remit 30k per day room bookings for me every day haha

Also im trying to do a palmwine lounge thing. I have noticed one thing its when people are drunk or tipsy thats when they start wanting to do the obvious.

Lead city university students too that always came to camp at the hotel and be doing party around the night looool

Chai

Funny and Educating. I have plans to build a hotel. I lost so much money between February and April this year. I am currently praying to God that the source of income that fetched the money should not block( at least till the end of the year).

If my prayer is answered, I should be able to save 40 Milion naira between now and end of the year.

If it works, I am seriously considering building a hotel of about 20 rooms, with lounge/bar. I prefer that to building a house.

What are your thoughts?

grafixdon:


I still need the bar. I want to give it a second chance

If u are interested i can paint nice murals and background for ur bar, to spice up the looks and so your walls wont look boring, im not based in lagos but i can be mobile, trust me it will attract people, especially those picture freaks

valemtech:
bet9ja business

Thought it’s better then the other betting companies

itzzkhaliii:

If I might ask why south south please?

We do not mix the oil with anything.

Beauty soap business (2tiger).
The soap is good and working well, it's almost 6month now I haven't finish selling what I brought since December

What you should ask yourself first is: how much do I have to spend on absolutely essential utility bills and personnel to keep this business open and divide them to the days of operation.

Next thing to do is calculate your maintenance costs and divide them to the days of operation.

Third step is calculate your daily wage and add that to the expenses.

You add the above figures and you have yourself the amount which is the margin loss to profit line. If the hotel earns more then it is profitable, if the hotel earns less then you need to adjust the prices assuming you CAN do that.

Always check the competition, what they offer, how much they price it and find something unique to add to your product (e.g. Book 7 nights pay 6) Location is important, open your eyes on short rest because those receptionists will do about 10 SR and claim it only 2, you need to monitor the revenue most especially those that lodge at night. Be very strict an discipline too.
Lastly, manage it yourself & join the association of hotelier in your region

NaughtyBrainiac:
Funny and Educating. I have plans to build a hotel. I lost so much money between February and April this year. I am currently praying to God that the source of income that fetched the money should not block( at least till the end of the year).

If my prayer is answered, I should be able to save 40 Milion naira between now and end of the year.

If it works, I am seriously considering building a hotel of about 20 rooms, with lounge/bar. I prefer that to building a house.

What are your thoughts?

Rental properties comes with a lot of heachaches most especially TENANTS, UNLIKE HOTEL INCOME ARE GENERATED DAILY