₦airaland Forum

christejames:
Is he even aware?

maureensylvia:
A lot of experiences I'll share on this thread
I'll start with this one

Please read and digest with maturity

One fateful Saturday morning during the month of November, as early as 5:30am, I was dressed up to go to the village market to source and buy soyabeans for my client

it's a 3 hour journey, I supposed to be in the market latest 8am to source for the Soyabeans. I selected two of my boys to go with me. it was a smooth ride I must say, past 8am we were already in the market...

Majority of the sellers were not yet in the market, I got a bench and sat down while waiting for them to come. My two boys went to drink Shai at Mai shai stand... Shai is Tea. Mai shai is Tea seller

Past 9am there was no signs of the soyabeans sellers... I put on my "Patience" Jacket 😄

I was already hungry but I didn't want to eat what I saw there. I yawned and yawned no be person tell me to go to the Aboki Mai shai stand to request for a plate of noodles...

My goodness!!! the noodles was tasteless!

I managed to eat only the eggs that was spicy.

Around 10am they started coming. Atlast !! I exclaimed.
But there was a development... the soyabeans I was seeing there was not up to the grade I wanted. soyabeans differs and I wanted the best grade.

After a short while I saw the grade I was looking for but the quantity was so small as I needed a trailer of soyabeans.

I made up my mind to go and come back in the next market day but my boys suggested we go to another market that's more bigger than the one we came to.

After much deliberation, I gave in.

Me: How long will it take us to get there
My boy: In few hours we'll be there
Me: It's alright, let's go.

We left the bush market past 10am boarded a taxi and that's it...
11am we're still on the road!

Me: Haba we never reach🧐
My boy: no ma, we will soon. reach

Me: ok ooo


Few mins later the taxi dropped us, I looked around I was seeing only bushes no market. Hiannn Sule this is not market na.

He told me here ends where motor can go the rest of the journey will be on bike

whaaat!!! I exclaimed

My boy: Don't worry ma we will soon reach

Me: ok ooooo🤔

Babastrong:
I/can/supply/you/trailers/of/soyabeans/from/SAKI.

Busu001:
You can get *5 of dx at my end in Niger state.

slawomir:
Damnnn niggar.

All these low budget ass nollywoood actors

Rest in peace Anyway

As you sef be low budget Yahoo Boy

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.

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

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