TheZeezle:
You don't really the advice cos you are bitching people away from the truth. Why do you have to put it here then when you know what to do?

ok

Kenpaly:
This is my advice,reduce the loan to 300k and make sure you tell your people that you want to borrow money 4rm bank . Ur people will help you to run around should the case goes south. Wait oo dnt you hv any uncle that will help you.

It's not from bank, it's from loan shark.

cavreek:
Pls ooo
If that amount is what u want to use to open a game shop don't
B innovative, think abt how long it will take u to build ur house or buy that car
If u have d means to get dat amount pls think of something else
Dont b deceived skul is not a scam dont underestimate it

So I should go to school with 500k? What would I use the certificate for, don't say job because we both know how it is with jobs in Nigeria.

Olayetan:


You said gaming shop, unless you don't know what you're actually saying.
There's difference between gaming and betting shop o.
So which one you wan run?

Both

Olayetan:



Ok
Go ahead...


Since you know it, you don't need someone's advice to give you go ahead.
Just do it and believe it will work since you know about it, you think the knowing I meant was how to buy the game, install it and run it?
Anyway, nah your loan and your business.

What's buying game installing and running, seems you don't know the business I am talking about.

JoyousFurnitire:


Hmm, move closer to people in the business so you know the daily return.

Also, discuss with your parents so they can back you up Incase things don't go as planned.

Lol parents don't care what I do with my life, they're even looking at me like I am a liability so that isn't an option, my siblings are looking upto me to support them, I can't go and start asking them for help because it's shameful and they don't really have much too, so it's just me, and yes I have made necessary enquiry about the biz, seems betting shop isn't as lucrative as it was, that's why I intend combining mine with gaming shop.

JoyousFurnitire:


I'll advice the betting shop (hopefully it's scarce in your area).

People don't really visit the game shops. Na money every body they find.

Ok, makes sense, thanks.

Olayetan:


Wrong move for a Wrong business idea, never take a loan to start business you have no idea of, business are easy to start but not easy to maintain.

If you ever want to start any business, start it with your money, you can only loan to expand the business when you're sure of what you're dealing it.

In short sentence, dead that idea of yours taking loan to start what you don't know about.

On the contrary I know the business, I don't know what gave you the impression that I don't, second, I can't raise my own capital, wasted years trying to do that, and no one would give me that money to start a business, and I can't be waiting forever, at least I have the option of loan, many refused to even loan me, abi I should buy laptop and join the Yahoo boys, because you're instilling doubts in me, you can advise me without telling me I'll fail you know? Try that.

JoyousFurnitire:


I'll advice you start with one first maybe you won't have to borrow that much so you can payback conveniently.

The gaming shop or the betting shop? Which do you think I should start with?

JoyousFurnitire:


Don't take that as insult and don't borrow to rent.

Let people think whatever, it will even be bad if you're the one looking down on yourself.

You're doing your best and the good thing is you're still pushing. Draw a good plan and look at how you'll payback before you take the loan.

I earn small money online from time to time, but it's barely enough to save and start a business and it's not constant, so I thought maybe if I open the gaming shop, I'll be getting daily returns, then add up with the little I make from time to time, and be servicing the loan until I finish repaying.

shawante:

Very good idea..

Thanks for your input.

shawante:

Bro go with the gaming shop oh! I hardly see any gaming shop that people don't patronize on daily basis

The shop isn't just an ordinary gaming shop, I have given it serious thought and it should work out, I intend joining it with betting shop, like two in one.

Priciusxy:
I’ll suggest you think of a business that’ll pay you more. Study and observe your environment well. If you go take a loan of 500k how do you intend paying back if your gaming shop doesn’t move? You know how this loan companies behave they don’t mind dragging your name down and spoiling your reputation. Think wisely before you take any loan

I have given it a thought and from what I see around me, the gaming shop is one thing that is seriously lacking in my locality.

Ammishaddai:
Bros, it seems you're the type who would take foolish decisions out pride. For the love of God, there is no shame in staying in your father's house, especially in this period of economic hardship. And If I may ask , how do you intend to pay back the loan if things don't go well with the gaming shop ? And secondly, why a gaming shop why not use the money for something more concrete...like food storage or growing an ICT skill

Thanks for the insults.

Would've created this on investment section but I can't because it's a new account, but I'm at a crossroad in my life and I need to take drastic decision, I am in my late 20s, still in my father's house and it's sad, I have been hustling for years to be comfortable at least but it's not working as I am still as broke as ever, now I'm considering taking a loan of 500k to pay back 800k in 12 months, I intend to use it to open a gaming shop, pls advice me as I am running out of time, is it a good idea?