Hi NLanders,

The post goes out to all those who are business minded. And to those who want to be part of the progress of our dear country (help a youth, who can in turn help a thousand).

I have a business plan, getting a space in UNIBEN to do my business centre, I have a laptop and a printer, the only problem is that I don't have the money for space. If there is anyone interested in helping, kindly send an email to afroguy16 at yahoo.co.uk. All I need is a loan of N40,000. And I will pay back N60,000 in a very short time. The money will be used just to pay for space, nothing else. And don't think for a second that I won't pay back, because everything will be arranged.

Thanks, and I hope the right people get this message. (If there is anyone here who knows where I get SME, suggestions are welcome.)

Thanks.

NB: I also have other business plans.

Do you have a business plan?

Of course I have.

Send us your business plan,capital injected, your net-worth, experience and copies of the documents indicating the allocation of such space within UNIBEN. Then indicate the total amount required and your repayment plan.

If these are okay, we will ask you for your ID details. We will verify your documents. If all is okay then we would disburse a part  or all of what you require.

PLEASE NOTE: You will pay NO FEES OR INTEREST on this so do your presentation properly especially the business plan. If okay we will fund you as indicated above and you only repay what we gave you.

Please send to contactcentre(at)sapnetsolutions(dot)co(dot)uk

Thank you very much sir. I will send you the documents on Monday.

****We have deliberately responded to you on this forum as we intend funding other young entrepreneurs from Nigeria . We want the process to be a learning curve for both you, us and other prospective entrepreneurs.

We have gone through your business plan and are quite impressed. However we require answers to the issues outlined below. If we see further potential, then we can get your full documentation and get someone to verify same, arrange an interview and if approved, we'll disburse as required.

1. It was noted that a generator did not constitute part of your capital expenditure or included in your available fixed assets. Why?
   
2. You have not sent us a copy of the lease agreement between the present occupier with Uniben and the lease agreement between you and the
    business  already situate there as requested. 
3. If you are going to be typing for 6 hours assuming you run at optimal level based on your profitability analysis, how do you intend to handle
    scanning etc and how will this affect your service delivery and profitability ultimately?
4. Typesetting might be a seasonal activity during end of sessions. How do you fill in the gap?
5. We expect to see your risk analysis.What are your risks? Send us a risk assesment doing business inside Uniben while sharing office space.
6. How do you generate income during holidays?
7. You plan to share with a business centre which presumably is well established, how will their business affect your operation and vice-versa
8. Finally and most importantly your projections for daily expenditure is N970 which is N25,220 monthly, your projected monthly profit is N25,840 and you plan to make a monthly loan repayment of N10,000 over a 4 month period presumably. How do you reconcile the disparity in the figures provided?

Provide answers to these issues on this forum please. We want others to learn from your pitch.

Thanks sir for your swift response. Here are answers to your questions:
1. Generator: I didn't include a generator set when planning my business because of the running cost. If you look closely to my "fixed asset" table, you will discover that in front of the computer there is a bracket indicating that I will be using a laptop to type. Presently, my laptop holds power for a minimum of 3 hours, that is more than enough to type. If I fully charge my laptop from home, then I have over 3 hours till it drains completely. Aside that, when I get to the shop there is likely to be light (even though Nigeria don't have 24 hours light, we don't experience 24 hours darkness), so my laptop will be plugged. In worst cases, which I have considered, I will be left with no choice than to (i) Type in a neighbour's shop until my battery is full, or (ii) go home to continue the typing. My research have also shown they the percentage of power outage in UNIBEN is low.


2. Lease Agreement Papers: I have not ask the provider of the space if he has any lease agreement papers. And if I understand properly, I am sure what you are asking is a proof of that the owner of the shop actually rented a shop in UNIBEN, or if such shop exist. I will ask him to give me a copy of receipt showing payment of his shop. As for lease agreement between me and the owner of the shop, I will have to ask him for that, because he didn't give me any paper, and I am not sure if such paper exist, except he will have to draft one.

3. 6 hours typing duration: Again if you look at my plan closely you will discover that I said time devoted to typing, and not total working hours. Normally, my working time will be 10 hours, that is 8:00am - 6:00pm. If I devote 6 hours to typing and proof reading, the remaining 4 hours is enough to do scanning, which takes less than 3 mins per document, and printing, which is even faster.

4. Seasonal Nature of Typesetting: Of course I know typesetting might be seasonal but the question is seasonal for who? I am not going to be servicing one particular group of people, rather I will be servicing multiple groups of people; students, lecturers, schools, external works, etc, that will fill alot of gap.

5 Risk analysis: I don't think I understand what you mean by risk analysis. If you mean event of bad occurrences, like faulty machines, etc. There is N200 allocated everyday for such occurrences, that is over N5,200 a month, and N31,200 in six months, that is enough to replace any faulty machine.

6. Income on Holidays/Days with low patronage: I think (4.) have answered this question but let me add to it, there will be bulk work from other sources (secondary schools, etc.) sometimes that will help fill these gaps, and that is why I calculated just 6 hours typing profit, because I know I can use those extra hours to fill the gap for days with low patronage.

7. Sharing space: Unlike you presumed, the business centre I am sharing is not so "established". It is owned by someone who rented space from the owner of the shop. The owner of the shop is not doing business centre there, he just rents space to people who wants to do business. There are two people there already, one deals with graphics only, while the other is a student, she deals with typing but she is not always around. Since the shop is inside a campus, there are a lot of room for people to do business without hindering ones neighbour. See "The Competition" in my business plan for further information.

8. Finance: I am sorry, you must have misunderstood that section of my business plan. Let me explain it clearly. The total amount of money that I am to make is over N1,764 x 26 days, which is equal to 45,864. If you minus my daily expenditure, which is N970 x 26 days = 25,220, the money left as profit is N45,864 - N25,220 = N20,644. Since I have already minus my daily expenditure from the money made monthly and still have N20,644 as profit, I don't see how I can't pay N10,000 monthly, considering the fact that I calculated the barest minimum profit.

Wafijoe,

Thanks for the clarifications.

By risk we means issues present or probable such as inconsistency in University rental policies,security, faulty transformers within the campus for long durations, ASUU strike etc. We only wanted to know how these issue may affect your business and how you intend to manage these risks both in the long and short run.

We hope to get the lease arrangement between the owner and the University that let the office space. On the last issue raised please find below the profitability analysis so we are clear we on thesame page as its quite easy to understand contrary to what you said.

Total amount made for the day:
Typing N1,764
Printing N100
Scanning N100
Total N1,964

Daily Expenditure
Transportation N200
Lunch N200
Paper N70
Ink N200
Rent N100
Maintenance cost N200
Total N970

Daily profit = N1,964 – N970 = N994

Monthly profit = Daily profit x 26 working days = N994 x 26 = N25,844
Therefore the minimum profit for a month is equal to N25,844

Check your minimum profit monthly against your minimum expenditure monthly and revert. Thanks

Sorry for the late reply. It was due to lack of internet.

Sir, let me be straight to the point

Profit N1,964 (daily) x 26 (working days)   =   N51,064
Expenditure N970 (daily) x 26 (working days) = N25,220

I hope it is clear now sir. As for the lease Agreement, I ask the owner of the shop, and said he need to see more seriousness in me. And that if I am not serious he will give the space out.

Thanks for your effort so far.

For N40k or evn a part of it,financer SAPNET is putting dis young man thru all these.From his replies,u can tell he is an academically sound,honest,determined young man wanting to get himself gainfully employed in what he blives he knows how to do.He may b making a few assumptions,but dis is somebody dat deserves to b encouraged for anyone financially able,not putting thru dis ding dong,repeated questions.I wonder if he was demanding for a loan of anything above N500k,den he may b asked to bring d verified,handwritten endorsement of president Jonathan!

doctokwus:

For N40k or evn a part of it,financer SAPNET is putting dis young man thru all these.From his replies,u can tell he is an academically sound,honest,determined young man wanting to get himself gainfully employed in what he blives he knows how to do.He may b making a few assumptions,but dis is somebody dat deserves to b encouraged for anyone financially able,not putting thru dis ding dong,repeated questions.I wonder if he was demanding for a loan of anything above N500k,den he may b asked to bring d verified,handwritten endorsement of president Jonathan!

i agree with u

doctokwus:

For N40k or evn a part of it,financer SAPNET is putting dis young man thru all these.From his replies,u can tell he is an academically sound,honest,determined young man wanting to get himself gainfully employed in what he blives he knows how to do.He may b making a few assumptions,but dis is somebody dat deserves to b encouraged for anyone financially able,not putting thru dis ding dong,repeated questions.I wonder if he was demanding for a loan of anything above N500k,den he may b asked to bring d verified,handwritten endorsement of president Jonathan!

There is a fundamental problem with the way we Nigerians bring sentiments into serious issues. I doubt if the poster has ever met the person offering to finance him and yet he offered to help(I may be wrong).It is now left to the poster to meet his conditions. Since N40,000 is nothing why don't you give it? Let him go to a bank or even a microfinance one or better still come to you. Shey they dole out money in banks without questions. Mtcheww

@poster, do not be discouraged. I pray you get the funds you seek.

@poster, please how much does it cost to rent a shop in UNIBEN?

1stCitizen:

There is a fundamental problem with the way we Nigerians bring sentiments into serious issues. I doubt if the poster has ever met the person offering to finance him and yet he offered to help(I may be wrong).It is now left to the poster to meet his conditions. Since N40,000 is nothing why don't you give it? Let him go to a bank or even a microfinance one or better still come to you. Shey they dole out money in banks without questions. Mtcheww

@poster, do not be discouraged. I pray you get the funds you seek.

Y are u still praying for him,since u abhor sentiments,what cud b more sentimentally dan putting prayers into an issue begging for practical solution.
U 4got d part where I sed for those financially able.D kind of questions(some he alredy answered& still bein asked to) he is bein asked& processes so involved wi dfinitely discourage any small scale enterpreneur& u come here encourging such when d fundamental issues av bn dealth wt by him.Its d same people or institutions dat wi deny a honest person a meagre loan dat will close dere eyes wen a 'bigman' comes for millions for unproductive purposes wt no intention of paying,doesn't pay back& nothing happens;yet frustrate honest,productive,determined people.Just zoo zoo off frm my space,pls!

doctokwus:

Y are u still praying for him,since u abhor sentiments,what cud b more sentimentally dan putting prayers into an issue begging for practical solution.
U 4got d part where I sed for those financially able.D kind of questions(some he alredy answered& still bein asked to) he is bein asked& processes so involved wi dfinitely discourage any small scale enterpreneur& u come here encourging such when d fundamental issues av bn dealth wt by him.Its d same people or institutions dat wi deny a honest person a meagre loan dat will close dere eyes wen a 'bigman' comes for millions for unproductive purposes wt no intention of paying,doesn't pay back& nothing happens;yet frustrate honest,productive,determined people.Just zoo zoo off frm my space,pls!

Just read the rubbish that you have written. lazy people like you are the reason why Nigeria is at a sorry state today. Travel to the US, UK or Canada and see how entrepreneurs slug it out to get seed capital. you present a plan and face a panel, they grill you push you and shove you just to see if you got what it takes. You better get you figures right as they do not offer second chances.

Here you are a typical clueless lazy hypocritical Nigerian asking for manna from heaven. I just went back to read the posts from the beginning again and noticed that this loan was meant to be given without interest after a cry was made. Where were you then? Instead of you to shut up and encourage both parties, you are trying to pour sand in the posters garri. The guy is only trying to do due diligence and probably you do not know what that means. If it were me, i would request for more than that.

For your information, the word prayer means " I hope". No one is going to hold prayer sessions for him. The key is in his hands and not in heaven.

I still maintain, why don't you offer the poster the funds?Clueless lazy baboon please give the funds to him and lets close this chapter

Wafijoe,

Thanks a lot for the response. The reason for requesting for lease agreement is just to ensure our funds are not being unnecessarily put at risk. One of the risks you have is either Uniben claiming the tenant did not get the space appropriately and kick you both out, hence we need to send someone to confirm the document. Secondly if there is no legal contract between you and this tenant, he could kick you out when your business starts doing well and offer your service to customers.

We are funding about 50 people and assuming we give out N40,000 to each, it amounts to N2,000,000. Surely that is not the kind of amount to gamble with, hence all the questions and checks.

The lease agreement is non negotiable from our point of view and we cannot move forward without this or without confirming it.

Maross:

@poster, please how much does it cost to rent a shop in UNIBEN?

Wafijoe<

Where are we on this? Please respond to the question from Maross.

^^
I tried to get the lease agreement paper from the owner of the shop but he refused my request, he even told me not to bother about renting the space anymore, he said he have given it to "a more serious person". Anyway, thanks for your effort but it seems it is impossible for small loans to be given to a lot of Nigerian youths, because a lot of them like me do not "meet the requirements". My advise is if you guys are willing to give loan (and I believe you are), you should try another procedure/method to make it work.

Once again, thanks for your effort.

@ Maross,
Forget about it, there is no vacant shop in UNIBEN but if you insist, you should be patient, go to Student Affairs, they can help you.

WafiJoe:

^^
I tried to get the lease agreement paper from the owner of the shop but he refused my request, he even told me not to bother about renting the space anymore, he said he have given it to "a more serious person". Anyway, thanks for your effort but it seems it is impossible for small loans to be given to a lot of Nigerian youths, because a lot of them like me do not "meet the requirements". My advise is if you guys are willing to give loan (and I believe you are), you should try another procedure/method to make it work.

Once again, thanks for your effort.

@ Maross,
Forget about it, there is no vacant shop in UNIBEN but if you insist, you should be patient, go to Student Affairs, they can help you.

It may be possible that Maross was only seeking a way out of the logjam by suggesting you get your own place outright instead of becoming a sub-tenant.

We have bolded some comments in your last post and will be taking your suggestion seriously. We will be in touch.