Hi all,

Just wondering if anyone knows of a hotel In Benin city that has 2bedroom self catering apartment.

Or
A short let apartment that one could stay for just a week. Somewhere secure and central.

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.

All this for me? Tnk u so much . Lesson learnt

TO ALL U SIDING WITH THIS TAXIFY DRIVER, WAT HAPPENED TO THIS LADY WILL HAPPEN TO UR DAUGHTER,NOT UR SISTER oooo, BUT UR PRECIOUS LITTLE GIRL.

AM SO HAPPY SHE WAS ABLE TO THINK FAST AND SCREAM THAT LOUD , SOME PPLE WOULD HAVE FROZEN IN FEAR AND JUST FOLLOW ALL ORDERS, ITS 12am THE DARKNESS ALONE IS ENOUGH TO PUT THE FEAR OF GOD IN ANYONE.

NIGERIA IS A SHITHOLE AND READING THE COMMENTS HERE JUST PROVED SOME OF THE PPLE THERE HAVE SHIT BRAINS. U GUYS DESERVE THAT COUNTRY.

Pls I need help oo, tickets from Manchester to lagos in August, am getting £4,200 for a family of 6. Just too much

U see am? She got off her seat, came to his personal space and was shouting at him? White men have too much patience. If na darkie, she for recieve hot slap

Modified: after being battered with slight insults and shades I have adjusted the price.

Hello house,

Pls can u recommend a good fast developing estate in the region for less than #5m.

Pls no agents advertisement,
I want input from pple dat have bought or have connections in the area.

It must not be far from the express road.

emmanuelgon:
don't miss this opportunity PH guys

What is a ph half plot?? 100by 50?

Rubbiish:

Lol...U wey get property for everywhere for lagos...

I beg oooo, we still dey try

Chekitaut:
I will prefer outright purchase. move somewhere else...

I don't live there, it's 2 plots altogether

So angry

Chekitaut:
2m how many years lease?

10yrs lease ooo, naija matter tire me ooo

Why can't things just be straight forward??

Chekitaut:
Don't give out your money to anybody for processing anything.

I think the company is offering about 4m but the agents and consultants only want to pay me 2m but all the money will come to my acct , and I will now return half to them.

Pple help oo, don't know if they trying to trick me

FaniDan:
my own no be wash, if u no know satin you dey do no mean say others too no know

Keep decieving urself? Wat was last years theme? And the year before, and the year before , how has it changed u?

U guy never learn till it's too late.

It's ur life , use it as u see fit , e no concern me.

ifyalways:

No, I don't live in Ghana. Compliments of the season

I see you've corrected your conversion. East legon (some parts though) are one of the highbrow areas of Accra and housing in Accra are generally priced in Usd. See below from a random website.

U learn something new everyday, so would the buyer really pay in dollars or convert it to the local currency before payment.

ALL NA WASH

Every year , every revival, every crusade, every service all get theme, yet nothing changes.

What is the definition of insanity? Doing same thing repeatedly and expecting a different result

Julivas:


I see, the price is already in dollar

ahhhhh
I thot that was Ghana dollars, i heard long ago that Ghana don't use cedis anymore. No mind
me o, I be proper olodo

Chekitaut:
No go do pass ur power 15m no buy self contain for lekki

Lol, I beg let me dream ooo

gustav25:
seriously ?I think there is a fault in your exchange rate

Wow, I converted it to dollars and multiplied in naira.

ifyalways:
1.
Semi detached , gated , three bedroom (all ensuite), with visitors toilet for sale.
Location : East legon, close to Salem estate.
Asking Price : $150,000.00
Two units are up for sale

For serious enquries, ifyalways at gmail dot com

Sis do u live in Ghana?

That property looks decent oo, that's about 12m naira. Better than some shit hole they offer here for millions.

bellville:
sis, there are no proven health implications. Approach the issue like a business woman. Take the lease option but negotiate for a higher rent (they have an upper hand though) since it's a first lease. My mum has same on her land and it's been very rewarding. I can help you with the review of the lease agreement.

Ok, pls pm me.
Make we gist am out.

gabinogem:
Ofcourse there are health implications... Health experts should let u know more on that.

Apparently there is one on bornu way? Which I hear is the middle of lagos? Would the govt allow it if it was a danger to the public??

Chekitaut:
Both of you are in business, Bros outright at 15m move to where you like within Agbara you good to complete the building in 3months buy a good car sef.

But they won't buy the whole property na, they only want 30 by 30.

If they 15m for the whole property, I will quickly sell it and head to lekki

Modified: I just had a lengthy conversation with my caretaker, he said the payment will be about #3m but I should my 2m and give him the balance that it belongs to the agent and the consultant that they normally inflate it for the telecom company. Pls is this a usual practice??

hi all

Just got a msg from my caretaker that MTN are asking if I would sell or let out 30x30 of my 100 by 100 to them becos the want to site a mast there.

The letting they want is for 10yrs and payment is #2m. And to buy it also 2m.

Their are tenants in the front of the land because I built 2 bungalows there long ago.

This is in agbara ogun state, my question is does this seem reasonable?

Is it safe to be around these thingz as my tenants have young kids and I don't want to put anyone in danger.

Donald3d:

Hello I can create a professional and affordable one for you, with beautiful layout to represent your business.
I am also a digital marketer so I would give you tips on how to make the site sell well
You would benefit quite a lot from me at a good price ,hope to hear from you soon

08182346055

info AAT donald.com.ng

Hi , I Assume that website above is urs??
Is that phone number on WhatsApp??

romeo911999:


It is a complex thing to do, especially when it comes to receiving payment. How do you intend to deliver the goods to your customers? Check out site I created from scratch www.gisthive.com and message if u think I'm good. �

Am not in Nigeria, so PayPal, depit and credit cards will be accepted.

Hi, I need someone to build an online boutique for business.

It has to be very affordable as this is a new business.

Pls if u need more information just quote me, am very transparent and will answer most questions here to so others can contribute too.

Tnks

jokepearl:


City of David.

Okk, am Hoping to find someone who is building in Golf and estate so I can ask them on the progroof the estate.

EgunMogaji:

https://www.youtube.com/watch?v=2We9T8DASRo

Is shimawa really 40mins from ikeja??

jokepearl:


That's not true. I just finished my building carcass with roof and my Engr built it. Engr just have to be a certified engineer. Though they have other issues so you may need to consider.

Hi sis, which of the estate are u building??

Adeliebe:
What the other post said is rubbish, I've got an on-going project with Adron and I'm using my own contractor.

The only extra fee I paid was 200k Security/Supervisory and of cos the Legal Documentation(Deed) which is 50k
Survey Plan 150k and Developmental fee of 500k which you know about.

The only reason you won't be allowed to use your contractor is if He is not registered.

I hope that helps

Just place a call to Adron if you're unsure of any thing.

Pls which of the estate are you building in??

These fees u listed seem reasonable if it's lagos

EgunMogaji:


Too many fees chai.

Hmm, I think dat list is even for a cheaper estate. Shimawa is about 6m now.

Thanks for the info, will visit soon