stagger:


Lease the business and facilities out. Let the people leasing it pay you a lump sum every 6 months or every year. Having paid that money, the leasee will do everything in their powers to make it profitable. You can sign a 5-year leasing agreement.

Any other arrangement, especially when it involves relatives, is dead on arrival. You are too far away.

that would have been impossible as the bakery was in our compound.

its over sha, they can do wat they want with the building.

CsRockefeller:


What type of buses? I'm into Haulage and logistics.

small mitsubushi bus for urban transport

jacobjamie:
One Unit only available... The last one

I see its in Bayelsa
need it in lagos

jacobjamie:
pls check my signature, I have 4 Suzuki Every Mini bus I bought Direct Toks myself from Japan, it came in November and I registered it that November but started operating January until the Corona pandemic stopped everthing, am selling cuzz I need to relocated abroad, units already been sold, they are Automatic, it's barely used for fee months, they are very clean just like when I got them, they would have all been gone if not for the interstate restrictions, more pics on whatpps, 07.0 3.1.1.1.2.7.9.5 check my signature....

hi where is it located?
and wats the cost?

Enyinne:
Thank u dear ..ventured into uber to lock down some money but starting end of this year to commence the china business .




Were you able to find something? I wish I can share my idea along that China route but I can't. All I will say is you are on the right track to think of China and importation.

hi,

I am thinking of investing in hire purchase bus and someone mentioned that you have experience in this area
pls can you share helpful info with me?

Kendumazy:



Very risky. You can talk to this moniker '' Enyinne'' to share her experience with you so as to avoid making any costly mistake. Wish you all the very best.

ok will check that out
tnks

good day all

pls I need a forum where I can meet parents who live in diaspora but have sent their young children to Nigeria for secondary school?

I know schools like Loyola Jesuit, adesoye etc have lot of kids from diaspora studying there.

I would like to chat with some of those parents so I can consider my options.

Palantir:


That's sad. But like I always say, an entrepreneur is a failure who learns to succeed.

So what are you doing now? Still operating a business in Nigeria from whereever it is you are?

well now that I have recovered from that, am preparing to go into transport, hire purchase or balance as carry as they call it.

the plan is get a couple of buses and give it to drivers to balance it with a year and half.

Palantir:


Does this mean you gave up on the bakery?

yes I pulled out of it,

I was losing my sanity

nairamaniac:


I went through every bit of ur thread.
The end made me cry and laff at the same time.
So sad and funny ending at the same time.

I have a thing for businesses and its management in general.

And its like u really had/have a passion for the bakery business.
Well even though its a closed chapter, u owe it to yourself to know why it failed, so such mistakes are not repeated in other aspects of your life which may transcend bakery business.

There would have been several reasons why it failed.

But let me start by saying you definitely got it wrong on expecting 40% profit from each bag(plus ingredients).

It would never have been possible even as at then.
The only way you would have arrived at that projection is if you neglected a lot of expenses.

In business, there are 2 types of expenditures;
A) fixed expenditure
B) Recurrent expenditure

I take it that all your total cost to buy a bag and convert it to finished product is in the recurrent expenditure.

I believe you neglected some major details, especially in the actual expenditure for the conversion. That's the only way 40% would have been successful.
And probably the reason you made such omitions was that you were incapable of inculcating those obmited details into one bag of bread.
Either that or you went into the business with a mindet of 40% based on what you heard from people.

Now I am sure you didn't include recurrent expenditures such as;
1) Salaries/labour
2) electricity( phcn)
3) Diesel for Generator
4) Gas/ firewood / Charcoal for the Oven
5) Cost of supplies to retailers (If you supply to Them)
6) Nylon (painted nylon)
7) Servicing of equipments( those machines, mixers, Miller's and even supply vans have an average servicing cost per month)

If all the above are put put into consideration, I tell you, the most you would have made as profit even as at them is 20%.

Now taking ur figures into consideration.
You were making around 1200 from a bag which cost 11,800(plus baking). It means you were making a percentage of approximately 10%.

But according to me, I say the most you could have made was 20%.
20% translates to making approximately 2,360 per bag.
And that is a maximum.

Fine, 10% may have been on a low side, but. believe me 15% is more than reasonable.

At 15% you should have been making somewhere around 1,770.
That is most likely what you in were making.
Meaning if your sister wasn't performing or eating into your profits.

Her error at 20% profit was 2,360 - 1,200 = 1, 160

Her error at 15% profit was 1,770 - 1,200 = 570

Do your analysis properly and you would realise the 15% one was more likely than 20%.

At your expected 40% profit, it means they (your sister and co) where in accounting for;
40% of 11,800 minus 1,200
= 4,720 - 1,200
= 3, 520
HABBA!!!

It never happened.
I have been involved in feasibility analysis of several businesses, including bread bakery.

However there are several other factors why you may have experienced such low turnout or losses.
Your ingredients were too expensive. Which made your quality too high for the price you were selling.

You didn't get your formula right.
Maybe you were using eggs, milk, which were not necessary for simple bread.

Another reason would have been that your people were buying other ingredients besides flour at a higher price than what it should have been.
Either they inflated those prices or they were cheated by the sellers of the materials.

If I may ask, how many bags were they selling on the average per day.
Not how many they were producing.

At times, people are misled by quantity produced per day.

Let me explain;
Your company may have been producing 5bags per day for 25 days in a month.

But they were selling 2bags per day for 30days.
Meaning at anytime (T) their would have been excessive backlog of bread on your shelf.

Meaning your production costs was multiple times more more than your actual sales/profit.

Another problem was using heavy equipments to do small work.
That is mechanical-disadvantage.
You say automatic-mixing machine and bought it.
Why?
Those things are for people that mix like 8bags and above.
Currently the big size cost around 4.5Million.
But why buy that when you are not
selling like 8bags a day and producing like 12bags a day.

You should have gone for the manual mixer which currently cost around half a million. Even though it would entail more labour/salary which is nothing compared to the light bill/diesel your auto mixer would consume.
We haven't talked about the size of generator the automixer would use. Which is at least a 20kva generator (diesel)
Over 2million naira.
Back then you spent around 1million for the gen.

In conclusion, u didn't get your business model right.
And there is no business you can't manage from anywhere in the world. You coulf have.been in uk and manage that business without any qualms, If you tidied your own end properly.

One of the biggest lessons I learnt from management is;

YOU ONLY KNOW YOU ARE A GOOD MANAGER, WHEN YOUR BUSINESS IS BEING WELL MANAGED WITHOUT YOU BEING THERE.

Have you asked yourself how dangote manages his multiple businesses, spread accross the world without his being there at the same time?
There are some of these businesses he doesn't even go to for years.

Madam, we have done enough for one day.
Hope this helps a bit.

Pardon my typos, if any.
I had no time to crosscheck.

Wishing you all the best.

cant believe am just seeing this

thank u so much for taking the time to put this together.
I learnt a lot of lessons from that bakery.
best of all it did not bring a fight between my sister and I. the building is still there and she can continue if she wishes.

codedlee:
what most people fail to realise in bakery business is that the management part is so very much important- running a bakery without good management won't work- everybody minus the owner will kill the business except you run the business on targets!!! what most people who try to tap from experience from bakery owners/consultant don't realise is that if you are not strict,pls don't come near this business!!! saying u make 1200naira per bag as at that year is a lie- your post should be brought down- Blame yourself for not sourcing for Infos. Because your sister is the one running it made you believe anything she says,but if it was someone else that was managing it,I know u would have probably arrested the person,forcefully asking for accounts of every ingredients and kobo- I have seen a lot of bakery fall and a lot of bakery rise ,all cuz of management- that's why when I get contacted from nairaland here about anyone trying to set up a bakery I always ask if the person is truly ready to do what it takes which is having time for the business- as a bakery owner and consultant- I always advice clients who ain't physically present to give anyone that wants to manage the business a targeted amount to pay monthly and still get every Infos. They can start producing 5bags daily and your target is 150k after all expenses and salaries or 200k depends - Then when you see 5bags is working and the target is been reached you increase it- most bakery fall also cux of the selfishness of the owner. Nigerians are greedy and selfish(no vex na my mind I just tell u)- its all good sha.

God bless our ovens to be always hot!!!

haba uncle u wan beat me??
anyways i get what u mean

I presume u still in the bakery business, how much do u make per bag on average?
I still haven't given up tho,I love baked goods, the target was to later go into cinnamon buns, croissants and pain au chocolat.
.
so, how much is the average one can get a month as rental from a standard bakery in a good location?

Chicent:



As a matter of fact bros mini buses will be pushed out of the major roads soonest, because the LASG has invested in their own buses to arrive the country soon filling the gaps of the ban on keke and bikes.

@ bebe2 my advice to you.... Put a hold on any transportation biz plan now until things settles in Lagos and Nigeria. Peace

will keep an eye on it till oct
tnks

Chicent:



As a matter of fact bros mini buses will be pushed out of the major roads soonest, because the LASG has invested in their own buses to arrive the country soon filling the gaps of the ban on keke and bikes.

@ bebe2 my advice to you.... Put a hold on any transportation biz plan now until things settles in Lagos and Nigeria. Peace

thanks for ur input

I spoke to my manager today and we decided the bus route is the way to go.

plan is to get a mini bus everything including registration 1.2m give it on higher purchase at 1,8m and hope for the best.

will have to investigate that lagos state plan o

dckng16:


Managing a Transportation biz is not an easy task. It comes with alot of challenges and requires due diligence and time. I dont know much about bus transportation but as for taxi like uber and taxify, patronage is very low at the moment, fares are not encouraging for someone to invest 1.5 million naira now. To recoup your investment is going to take you a long period of time because of cheap fares. And getting an honest and a good person is the soul and heart of this business which is very rare nowadays except if you wanna put the car up for higher purchase. Auto parts are very expensive now due to $1=N450. Bear in mind you will responsibe for repairs, if anything happens to the car you might spend alot from what the drivers delivers to you as weekly rent, which usually 20k-30k. If measures are not put in place you end up with out savings. In this Covid-19 period most drivers delivers 15k. Is not reasonable to put a car of 1.5million on the road and you re collecting peanut. From the looks of things business might pick during ember months and I would suggest wait till then or look for more profitable business to invest

thanks for your time
lots of food for thought
will keep my out for a viable business.

I really want something to make me money this december

dckng16:
The Business is not smiling in this Covid-19 season, kindly keep ya money till the pandemic is over. Or could do other less stressful businesses

was thinking October 2020.

surely it cant be that bad??

abi I should go for bus?

chillex8:

NO. Don’t waste your money.

wow really?

are there no more passengers or its saturated?

I am seriously thinking of getting a car and giving it to a driver to use for Uber. I have a maximum of N1,5m to spent

few questions- is this still a profitable venture?
what type of car should I buy?
how long does the registration process take?

should I buy a car in Nigeria or try to ship one in from Europe?
all contributions appreciated.

ibeju , but with 2million. don't know how far into ibeju u going to go

[quote author=Thebellproperty post=88752999][/quote]


inclusive means there is no other fee including development levy to be paid?

vicdamm:


Wow that is ridiculous because the fees increased by over 200% just within a year this is a hidden charge if you ask me as I am just wondering how much it would have increased by the time I'm ready to build and the agent told me otherwise... thanks for the information I really appreciate it

When they say a plot of land is N5million plus charges one might end up paying N15million if care is not taken

you should have paid at the time u bought the land, its the only way to escape increment.

you will have to pay the current development fee

ViceChief:
are you a US citizen or PR?

no british

my niece tried to apply to brandon university testerday but she couldn't, apparenty they are not opened till October, is this correct??

gentleiphy:




Salford is more than 150% real and right..there is no country you can compare with America..thats a fact.It is so because of the flexibility of opportunities it offers to every one regardless of your academic background so long as you really think like a human being.US encourages all kinds of venture reason Mexicans,eastern Europeans,Africans who do not even have high school education succeed because there are no restrictions to small start up retail shops..so many Nigerians back home done even know that there are road side vulcanizers in New York,road side welders,kabu kabu blowing whistle for you with "Heysss are you going?...with people selling candys and cookies in the subways..with people coming out on the streets with their truck loaded with coconut ans selling to passer by..with guys hawking soda and water on the highway of NYC just like lagos...

you cant try that in Canada,you need to first be educated in Canada...everything regulated with govt policies ...small street businesses are not encouraged...

what America stands for is why it is called living the American dream...there is no country that is easy to succeed other than America with or without papers.

by the way i am also a Canadian citizen.

u are viewing America with a rose tinted glass. health care is everything, how can a country boast of so much wealth yet they have the unaffordable healthcare .

or u didnt see the viral video of the boston woman who had an accident and was screaming pls dont call the ambulance?

abeg stop the hype, wealthy in debt.

ViceChief:
Never been a fan of Canada.
Team USA! Land of the free

land of the free until u get shot, or a fellow pupil takes a gun in class and kills a all the children there. what if
yours is among??

abi na land of free until u do one small syurgery and u have to sell ur house to pay for the hospital bill.

waynee2baba:
I'm on a UK student visa which expires in October

ok, but they seem expensive, i just checked brandon university it said to have 25k dollars for first year.


i dont understand.

benque:
There's none

there is oo

its for those seeking canadian student visa, am assisting my niece.

Lexusgs430:



It's a phase.........

i hope so, i even thot of going to America but my husband and kids are not ready for so such adventures.

LagosismyHome:


Instead of going to Dubai maybe you go to Naija , dont target Abuja or the fine places in Lagos .......... after 2 weeks of seeing the hectic and stress associated with some places in Nigeria it would help reset and reevaluate things . Especially you that has been out for 20 years , naija will appear way more stressful. I haven't been here that long but now for me Naija is fun but after like 2 weeks i become tired

noooooooo ah , i go to Nigeria 2wice a year. i that want that sight all

CowbellY:


Haha! Just the person I was looking for. How do I contact you ma'am.

see me oooooo

pm me

waynee2baba:
- Fortune (Name)
- New app.
- Online (Route)
- Oct. Start (School starts)
- 14th June (App date)
- 15th June (Bio Request)
- 16th June (Bio Done)
- Likely no medical request (UK applicant)
- Still on Background check, Eligibility review not started.

when u say uk applicant . does it mean u are already a student or resident in uk??