Busu001:

You can get *5 of dx at my end in Niger state.

x5 of what please ?

Jaga

With the look of things over the years, it seems Fuel subsidy will eventually be removed.

My questions:

1. Is it not possible to remove fuel subsidy systematically/gradually? Like 10% removal every quarter. By the end of 2 years and 6 months, it would have been completely removed.

2. If number one is possible, why didn't previous administrations GEJ and Buhari adopt that approach.

What do Nairalanders think?

Normal level

Yes

slawomir:
Damnnn niggar.

All these low budget ass nollywoood actors

Rest in peace Anyway

As you sef be low budget Yahoo Boy

Hmm

lavylilly:
You don't need the bolded when you start out as you grow then you can start delegating certain responsibilities, you have to have solid grip of the business, because if they know you don't know certain things about the business, they would run you street.

You need yourself (being the manager & accountant), receptionist & cleaner who doubles as the house keeper, as demand increases you bring more hands.

Hotel is income and expenditure account
Income
Lodging
Bar
Swimming
Snooker
Hall rentals
Kitchen
Mallam selling suya or Shawarma person (pays you monthly for using the front of your hotel)
The italicized, monitor them bumper-to-bumper, get daily report of the stock/inventory -This another reason you don't need the bolded yet

Expenditure
1. Tablet soap
2. Disposable (ONLY when there's a party)
3. Cleaning materials
4. Salaries
5. PHCN
6. Fuel (Go for solar inverter system)
7. Minor repairs - don't change hands (repairers) very important if you want your facilities to last. Number 6, usually takes about 40-50% of profit hence the reason I suggested solar & also you either buy the fuel & other items yourself or contract it out- this another reason I said you don't need the bolded

As for the police, wait for them to come to you, don't go to meet them & when they do come, meet directly with the DPO not the boys. Whe you meet him, tell him you appreciate the work he does and how he has kept the area secure, praise him to high heavens a d be quick to add that business has been VERY dull but he should manage this xyz amount for card, make sure you collect his number.

Finally, don't wait till you have 20m... START NOW.

Thanks a million for the very detailed and inscive response

lavylilly:
What you should ask yourself first is: how much do I have to spend on absolutely essential utility bills and personnel to keep this business open and divide them to the days of operation.

Next thing to do is calculate your maintenance costs and divide them to the days of operation.

Third step is calculate your daily wage and add that to the expenses.

You add the above figures and you have yourself the amount which is the margin loss to profit line. If the hotel earns more then it is profitable, if the hotel earns less then you need to adjust the prices assuming you CAN do that.

Always check the competition, what they offer, how much they price it and find something unique to add to your product (e.g. Book 7 nights pay 6) Location is important, open your eyes on short rest because those receptionists will do about 10 SR and claim it only 2, you need to monitor the revenue most especially those that lodge at night. Be very strict an discipline too.
Lastly, manage it yourself & join the association of hotelier in your region
Rental properties comes with a lot of heachaches most especially TENANTS, UNLIKE HOTEL INCOME ARE GENERATED DAILY

Thank you. You are right.

I intend to Manage myself, I will have a room in the Hotel.

I will employ a Manager and an Accountant but I will make sure I oversee their activities as seriously as possible.

And for Location, I intend to do a very thorough feasibility study on this.

I will also cooperate well with the Police and local security in the Location.

I feel I should start working on Location now but I think I should wait till I have at least 20m savings. I just dey pray make God help me

lavylilly:
Hotel business

At first i chopped money like there was no tommorrow, it a low budget hotel with sales of about 5k per night. Was banking in about 30k per day. It was like blood money for someone who has never made that much money from anything for like the first 6 months.

Mistake 1
About late last year, Nigeria happened and Buhari proved himself to why he was Buhari, inflation and purchasing power, i noticed people who still wanted to bring babes didnt have enough money left like that cos of food inflation etc. Most were now going for short time service which was 1500 naira for an hour. And as a man once you are done with what you want to do, your eye go clear till next time konjiii hooks you and you are back again.

So in essence i was cashing in more 1500 naira bookings instead of the 5,000 naira bookings resulting in less income per night

Mistake 2
When i was making crazy money per day, i too was forming big boy dashing people around money and acting like i had money, what people came to the hotel to do, me too i carried people to other expensive hotels to do.

Also i was repairing almost everything in the hotel customers will spoil, anything be painting the same wall over and over again

Meanwhile price of emulsion went from 4k to 12k minimum, i still would be doing renovations non stop

I even wanted to buy diesel generator at one point in time and give customers AC, Rooms that i know they wont still sleep in for less than 5k a night. Thank God i couldnt afford the diesel generator

Mistake 3- Ramadan period
Chai this period for like 2 months was hard ooo, its like everyone was holy and no one wanted to spoil thier fast, but once Ramadan ended, things went back to normal.

Conclusion
Save your money and put your money where your mouth is.

Now im still back but more clever now, I have stopped pointless renovations. And i have started saving my money,

Even now i have started lying to my staff that there is no money for renovations, lol the same people that remit 30k per day room bookings for me every day haha

Also im trying to do a palmwine lounge thing. I have noticed one thing its when people are drunk or tipsy thats when they start wanting to do the obvious.

Lead city university students too that always came to camp at the hotel and be doing party around the night looool

Chai

Funny and Educating. I have plans to build a hotel. I lost so much money between February and April this year. I am currently praying to God that the source of income that fetched the money should not block( at least till the end of the year).

If my prayer is answered, I should be able to save 40 Milion naira between now and end of the year.

If it works, I am seriously considering building a hotel of about 20 rooms, with lounge/bar. I prefer that to building a house.

What are your thoughts?

E don dey clear small small

Now, that's Presidential. That's a Leader.

Tinubu persuaded me to step down for Akpabio

Dey play

Ogaju

https://www.nairaland.com/7678490/neighbour-connecting-generator

I stumbled on the above thread and I was astonished by the number of likes generated by every comment that suggested the Neighbour's Appliances be burnt to ashes.

I don't support the Neighbour's action for gaining unauthorised access. However, I feel that penalty is too harsh. Do we have to pay evil with evil?

There are better ways of resolving such issue.

Why not just get a good Electrician to work on the connection in such a way that no one would gain unauthorised access.

Apart from this particular story, I constantly see a lot of Nigerians show that they are inhumane. Many of us want to constantly stay wicked.

People have done you bad is not an excuse to turn yourself to a Monster.

Let's be nice please and the world will be better place.

Wow

“Obi has been way too sanctimonious for someone who volunteered to venture into politics and run for the presidency.

“He did not win the elections, he came a distant third, and he has made a political capital of exploiting people’s vulnerabilities.”

What a Prentender and Divisive Bigot he is