Hello all,

I would like to resign my paid employment by the end of this year (and no! It's unlikely that i'll be getting some huge severence pay) . Nonetheless it's time for me to take my destiny into my own hands.

These are the options that interest me: 1. A buka/canteen type business that caters for office workers during the day, a small but conducive place where they can eat lunch or buy their take-away and perhaps providing a small delivery service to local offices etc. 2. A small scale piggery, i have a plot of land within the Lagos-Ogun border axis. 3. A fish-smoking business for local consumption and possibly export and 4. Bespoke bed linen making for supplies and sales to local hotels, schools, hospitals etc.

These are the ideas i have been drawn to, but i am not quite 100% sure which one/s i should go for, and in what order. My funds are severely limited and i know which one is my favourite option, but i want some sound business advice on which one would make the most business sense to embark upon now, and what it would entail from conception to take-off?

So hit me please, thanking you all in anticipation of the quality advice that i am going to receive.

Its good to have an exit plan early enough and the 3 ideas are very good. Any business that targets consumables is bound to succeed as long as you have what it takes.

My question to you is that "which of the 3 do you have the most passion for"? Which of them best suites your personality? What kind of future are you trying to build? Do you have indepth knowledge of the 3 buisnesses?

My advice is for you to answer these questions, determine your strength and weaknesses, etc. Articulate your thought and seek professional advice/input.

Regards

Mike
08077191158

Thank you Emoyol,

The idea i have the most passion for is the Bukateria business. I can cook in my sleep and i believe i am good at it too, not because i say so, but because from as far as i can remember, people have often asked me to go into catering after tasting my meals.

As i said in my post. I have very limited funds but i believe i can grow a business from small beginnings. I'm at a stage in my life where it's time to take my destiny in my hands, I intend to quit my paid job by Dec this year so i am serious about this.

I also am very interested in Piggery Business and the Fish-Smoking Business using the plot of land i have although, i cannot say i have an in-depth knowledge of either, i do know i have a passion to start my own business and grow them.

When you talk about me seeking professional advice, what do you mean precisely? As my funds are limited i want to make sure that any step i take will add value to my plans.

Kind regards

Flabanx

Hello,
Why don't you start poultry business e.g. Rabbit farming. There is really a huge sale and demand for that kind of service. Try it out.

Before you resign, save as much as
your monthly expenses for at least 6 months.

That way, you will be more focused
about building your business and not
eager to make profits at all cost.

Go for buka/cooking. Man must wack na..............................

Go for what u love doin.

Think differently and cook differently

package ur restaurant and ur self very well. Use catchy,easy to pronounce and remember business name.

Ask ur friends and family what they likes and dislikes about the restaurants they have visited. Their respponses will help you to position ur self in d biz.

Dress neat and dress well. Always smile and be friendly.

Dont sell in credit.

My 2 kobo advice.

Fellow Nairalanders,

Thank you for all the advice o!

Dear Flabanx, i‘ll advice you to swing forcefully into “Bukateria“ cos out of the businesses u listed, the one that has got better prospect is Food Business. Mind u, plan ahead. If possible, set up the business before you quit ur job. The idea is that this business can easily birth any other business you want to venture into later. The Buka business has daily returns cos pple eat daily. Pls i strongly beseech you to put Buka biz into full consideration.

Warm regards.

OMOTOLA.

Seeking professional advice means looking for those who have made success out of such ventures and understudy them for practical experience.

Secondly, document your plan and create milestones that you can easily measure and work hard to stay on track!

Most importantly, I'll advice that you should not resign yet. If your job permit, you can start on a small scale and work hard to grow. Once the business achieve stability then you can resign.

You present employme provides the cushion being a start-up and no matter how small the pay, it covers your bills at the initial stage.

However, if you can afford it get the service of a pro to do your business plan/feasibility study.

Thanks

Hello Omotola

Thanks for your candid advice, you kind of echoed what my heart is telling me. And yes, you are 100% right i'm hoping to start a business that will help me diversify into the other businesses that i mentioned subsequently.

Dear Emoyol, i hear you loud and clear. With my limited resources, i still want to do things properly as i'm not a spring chicken and have family responsibilities, so my margin for error is virtually non-existent. You sound like you would know who i can speak to on a good pro feasibility study/business plan (obviously, inexpensive o ).

I am most grateful to you all for all this invaluable free advice; i am all fired up and really excited. Please keep it coming. A million thanks.

I'll go for the "buka things" but make a business plan
Good luck

You call me on 08077191158 so that we can talk.

Mike

Sundayhig,

Thanks but no thanks. Your posting has absolutely nothing to do with my post. Please stick to advertising job vacancies and not targeted posts that have specific requests/enquiries. Saves us all invaluable time.

Thanks no less!

contact me on oyeob@yahoo.com for business that you can do

You can also meet and interact with Naija Business Gurus here: http://www./411103045591843/

Here is my 1kobo advice.
1. Go for the buka biz as it's your passion.
2. Plan a marketing strategy for you business so as to get truck loads of customers.
3. Don't quit your job now, chill untill you got the back up cash to sustain you when you quit the job.
Be creative

Frm wat u listed, i`ll suggest d restaurant biz. People must eat & since u said u r good @ cookin then i tink dat`s d surest bet. Provided d environment is neat, conducive & hygienic. Just b hardworkin & prayerful & u`ll never go out of biz. Best of luck.

Thanks a lot

[quote author=Flabanx]Hello Omotola

Thanks for your candid advice, you kind of echoed what my heart is telling me. And yes, you are 100% right i'm hoping to start a business that will help me diversify into the other businesses that i mentioned subsequently.

Dear Emoyol, i hear you loud and clear. With my limited resources, i still want to do things properly as i'm not a spring chicken and have family responsibilities, so my margin for error is virtually non-existent. You sound like you would know who i can speak to on a good pro feasibility study/business plan (obviously, inexpensive o ).

I am most grateful to you all for all this invaluable free advice; i am all fired up and really excited. Please keep it coming. A million thanks.

Be-careful of jobless Nigerians that are here to prey your hard earned cash. Consumers goods are important when considering business in Nigeria. I would advise you first volunteer yourself to a restaurant around your neighborhood for few weeks to gain first hand experience. Don't listen to those Nigerians asking you to start farming business without revealing the pros and cons...Good luck bruv

Don't venture into any business without a business plan.If you do,you will be increasing your chance of failure.

Hi, y dnt u start up a poultry biz or open up a paint factory....

You do make it big if you go for the Buka but the location to site it matters most.
If the location is good,don't mind paying heavily for the shop to use.

Wow! Thank you all for your responses. Naijacutee, all your questions are valid questions that i am working on myself thanks a lot. I will perhaps contact you when we get to that bridge Re: Packaging as i do intend to do local deliveries to offices.

Femmy2010, Thanks for you advice on location. But what would you consider a good rent for a small decent buka in a good location (No VI or Ikoyi)?

omotola1:
Dear Flabanx, i‘ll advice you to swing forcefully into “Bukateria“ cos out of the businesses u listed, the one that has got better prospect is Food Business. Mind u, plan ahead. If possible, set up the business before you quit ur job. The idea is that this business can easily birth any other business you want to venture into later. The Buka business has daily returns cos pple eat daily. Pls i strongly beseech you to put Buka biz into full consideration.

Warm regards.

OMOTOLA.

Pls like how much do u think will be OK for A start?