₦airaland Forum

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nnewsnjobs:
Hello, my good people in the house. Please I need some mature investment advice from you people. I planned to invest some amount of money for like four to five years in a physical or fix investment (small investment).
My planned is to start investing gradually from the first year and by the fifth year, I should be able to start the business fully and start making money. I want to invest at least 5million every year for 5years and after which, I should be able to commence the business at the end of the fifth year.

I have few businesses (Hotel, School, Cooking gas) in mine, but I will need more suggestion to know the best to go for. In the next five years, I will leave my job ( or best put my job will finish so don’t tell me to continue what is giving me that money) and I don’t want to go looking for job up and down, I am not also ready to get another job with pay cut, rather I will prefer to work for myself with pay cut and build for something better, so this is part of my drive.
I don’t want to save the money in the bank or keep liquid investment till five years’ time before I decide what to do, I want to start now! On the issue of understanding the business, I am ready to devote my time to learn any of the venture I chose to go into. On the management of the business, I will take full responsibility of day to day managing the business for at least one-two year and putting controls in place before I will think of going into something else and having oversight management.

Dear gurus in the house, kindly let me know the one you think is better from the three I mentioned above or give suggestion of a good business that best suit my plan and budget (5m is the least, it might go up to 8m in a year). Note: no land yet, the first year will be for land, though I have part of the land money this year, my plan will start next year 2024.
I don’t have japa plan so I will not need that suggestion.

Identify key areas in the business sector that appear promising.

One major area will always be IT.
Everyday, lots of people are being told to acquire tech knowledge. This is true in every country, whether Nigeria or abroad.

Why don't you start a training school centered around tech?

Also, since most people are japping, and that trend will definitely continue by next year, )or even increase), why don you start a japa training school that teaches people IELTS or other skills that will need to japa?

You can merge it with the IT training center, since they will need IT skills to survive in their new country?

nnamdiosu:
Identify key areas in the business sector that appear promising.

One major area will always be IT.
Everyday, lots of people are being told to acquire tech knowledge. This is true in every country, whether Nigeria or abroad.

Why don't you start a training school centered around tech?

Also, since most people are japping, and that trend will definitely continue by next year, )or even increase), why don you start a japa training school that teaches people IELTS or other skills that will need to japa?

You can merge it with the IT training center, since they will need IT skills to survive in their new country?

Nice idea, this is kind of a short term or immediate take off business. I'm looking for more of a medium term business that will be ready within 5 years time as I am currently very busy with 8 to 5 work. Thanks for the advice.
More suggestions are welcome.

nnewsnjobs:
Nice idea, this is kind of a short term or immediate take off business. I'm looking for more of a medium term business that will be ready within 5 years time as I am currently very busy with 8 to 5 work. Thanks for the advice.
More suggestions are welcome.

Ok. I get you.
You see, business isn't really planned that way. Because a lot of factors can occur that will tip the scales at anytime.

Issues from coup, inflation could set in and render your financial projections invalid, banning of like minded business, war etc can happen at anytime. So planning on that long duration could be a waste of time.

Instead, you lower the range to at least a year , but that 5 years is too long to start planning now.
Wish you the very best.
Cheers

nnamdiosu:
Ok. I get you.
You see, business isn't really planned that way. Because a lot of factors can occur that will tip the scales at anytime.

Issues from coup, inflation could set in and render your financial projections invalid, banning of like minded business, war etc can happen at anytime. So planning on that long duration could be a waste of time.

Instead, you lower the range to at least a year , but that 5 years is too long to start planning now.
Wish you the very best.
Cheers

Ok noted, but planning with one year will make the business too small due to my financial plan, anyway I will still look at it. When you said 5years is too long for planning business, I don't really think so, some business even take 10years for you start making money, consider Dangote refinary, it takes over 10years, inflation might not really affect it much as the money is being put into use as it comes, it is because of inflation and some of the factors you mentioned that I said I don't want to put the money in account or liquid investment waiting till the five years before I will start.

Anyway thanks for your contribution, if I have the resources enough, I can cut it to 3 or 4 years. Am not looking at 1 or 2years, and looking at 3years and above plan.

Still waiting for more advice/suggestions.

Seems no business gurus in this forum anymore.

5 million for 5 years is 25 million. However, if the Naira keeps being devalued the way it is, the money will definitely be worth less in 5 years - say 20 million to be on the safe side.

One of the most important things when starting a physical business is the location.

For example, is it a highbrow area, with rich people, or average/low income earners?

Also, are there people that already offer the type of service you want to offer or not?
Example, if you try to start a school where there are already many schools, it is obviously a bad business decision.

Your location should, to a large extent, determine what kind of business you want to do except you plan to deliver your goods/services to a wide region (maybe statewide) or you are willing to relocate to any location.
For example, you'd agree with me that the cost of starting a business in places like Lagos, Abuja, Portharcourt is definitely not the same as starting the same business in some other states.

So, really, you can still go for any of the businesses you mentioned earlier (Hotel, School, Cooking gas).

Someone mentioned a tech-related school which teaches people relevant skills they need to ‘japa’. I think this is a very good idea. It still is a part of your original plan, it's just like having a specific niche to focus on.

Also, you might not be able to build and furnish a standard hotel with that amount, however, you could opt for a bar instead. You could also look into short-letting if you are in an area frequently visited by people from other states.

A cooking gas depot is definitely good. People will always need to cook. You might look for some things to add by the side though.

Other businesses you could consider, a dry-cleaning business, carwash, Snacks/fast food, AGRICULTURE, e-commerce/mini importation, exporting food products, even normal retailing (you could open a large store and get people to sell for you).

These are all businesses with good ROI(return-on-investment). You might just need to take time to DILIGENTLY study the business models so you won't make a loss.

All in all, it is a bit difficult to give good advice because things like your prior knowledge/skills, location, time/effort you are willing to put in, etc. will determine a lot about which business will be a good fit for you.

By the way, Happy New Year's Eve, Nairalanders.

I'll be doing a massive discount from 1st to 6th Jan on all flyers/videos. So if you want to advertise your products or greet your customers using flyers/videos, click the link in my profile.

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