Pls share your experience as I want to go into into. Thanks

Zealme:
Na fish business I regret why I invested in the business I no see money wey I invested not to talk of gain

betking agent in Calabar

I regretted going into pure water business.
I went into it big time with all my life savings.
Bought 2plots of land and built a nice factory that was properly fenced.

I bought some brand new dengli machines (packaging machines), bought two clean tokumbo dyna-150 trucks each for about 3m to be used for sachet water distribution.

The truck drivers were almost complaining of one issue or another. One day one trouble as the truck is always at the mechanic workshop. Mehn.... I almost lost my sanity.
I had to stop production and sold off everything.

I am yet to fully recover from it.

Krak:
I opened a Surebet247 shop and I ran the business for months without commission. Customers winnings were always more than the amount played every week.

Last last I ended up closing shop after spending a fortune on recurrent costs.

I still regret going into that business.

Sorry

Nicoddemus:


You would had bought a direct foreign used

I bought a direct foreign use. Infact the problem almost made me mad.

Mariangeles:


Pele.

Thank you but I regretted the business

Tomatoes farming

Kirkman:

But ford bus parts are readily available at Ladipo, maybe it was the mechanic you had that was trying to fleece you. You should have just closed eyes and bought a tokunbo engine.

the first time the problem started, I thought it was one of those things, but the problems kept on. I involved my mechanic, even invited more. At the end, I was advised to change the engine which I did, meanwhile I had spent big money prior to changing the engine, as I am talking to you now, the vehicle is parked in mechanic workshop for more than 2 months. The vehicle was bought in 2019.

tammyf:
location

Ibadan. Both Farm and Slaughtering House.

obidadon:
I regretted going into pure water business.
I went into it big time with all my life savings.
Bought 2plots of land and built a nice factory that was properly fenced.

I bought some brand new dengli machines (packaging machines), bought two clean tokumbo dyna-150 trucks each for about 3m to be used for sachet water distribution.

The truck drivers were almost complaining of one issue or another. One day one trouble as the truck is always at the mechanic workshop. Mehn.... I almost lost my sanity.
I had to stop production and sold off everything.

I am yet to fully recover from it.

I feel sad right now, it's a profitable business but it's drivers that ruin it. I know of a man in my area, his are petrol vehicles but drivers(reckless driving) keep having accident (direct toks). About vehicles, hard luck bro

Nicoddemus:


Please what are the precautions to take? I just bought a car for transportation (foreign used). What you just said somehow raised my fear

Unless you're prepared to take the person with you to a shrine to swear loyalty, then you have to be personally responsible for the vehicle. If not giving it to somebody to be bringing returns tends to always ends in tears

iramure:
the first time the problem started, I thought it was one of those things, but the problems kept on. I involved my mechanic, even invited more. At the end, I was advised to change the engine which I did, meanwhile I had spent big money prior to changing the engine, as I am talking to you now, the vehicle is parked in mechanic workshop for more than 2 months. The vehicle was bought in 2019.

Diesel engine and I guess you had a driver

BlueBanana:


What's your niche bro?

I sell reliable laptop powerbank. 080.65.3163.07

Hamzaay:


08.16.74.61.595

What’s app only please

Can I join this train, plsssss?

adonainana:
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 2 hours. 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

cruise business man

Hamzaay:


Do you think I need to convince you. Poverty is in the mind bro. You are limitless.

That’s my account

what is the name of the freelance app you're using

Overthemoonman:
I invested over 200k in crypto, now my money no even each 10k for all my wallets again.. All the coins din turn 00

Hold them, if you can afford to. It goes up and comes down

milkywaves:
Imported Gas Level Indicator..
The stuff was a huge failure..
Haven’t recovered yet from the loss but I will in no distant time cause I consider it a “business lesson.”

How come?

iramure:
Haulaging/transport business. The vehicle is always giving issues. Ended up spending close to #2.2 million to repair which included changing the engine to tokunbo, yet no breakthrough. Las las, the vehicle is in mechanic workshop for the past 2 months. What a huge loss!

Are you thinking what I am thinking (village people), they could be responsible, you know?

BLoomfrancs:


Too many crazy comedians dey this nairaland

That dog is the typical example of a useless Nigeria girl.

Lol... U are a SAVAGE!

Only you smoke alphabets from A to Z
You must be smoking alpabetically.

RapistOnBail:


Arizona (AZ)

I chop the money, smoke the AZ finish

Dam417:
Forex,crypto & betting ...lost a car I intended to use to start a new life buy uber/bolt to thieves.. God please don't let me die in depression.

Go spiritual, pray is key!

holygenius3:
MBA, Bara and Kubeconcepts disappear with my money. Forex.

How much do you lose on Forex? And why. Thanks.

nazicartel:
betshop has finished me already.... Have one... I'm even tired of everybody and the Business itself..... Losses Everytime, poor commission from Betking ( those people are something else ).... Infact, I don't even want to talk about it... Sometimes I pay my workers with my private money... Have even paid winning through my money because I couldn't withdraw from the account.... Nsogbu kariri....

Betking is just a nightmare is swear...and its a shame if i shd close mine after wasting money

Last year, during the lock down I Used 11k and runs this Roasted Chicken
My uncle has a drinking palour which he's still running now
I Decided to roast chicken to provide more market for him and for me.
But debtors made me run and leave the business.

Reading through this thread I have learnt a lot from some really funny experiences.
Its not actually easy to start a business & nurture it to grow because Nigeria business environment is not friendly at all.
Am expecting a counter thread of how people succeeded in growing their presents business that they are into right now.

lelvin:
I'm planning on starting a gas retail business in August.

If it's not too much to ask, can you put me through?

Thanks.

send a dm

tammyf:


We can partner if you wish

I’m available for partnership, two heads are better than one +4475 916 939 24

I just did.

southniyikaye:
send a dm

lazkizz:
long story

Tell me please

iramure:
the first time the problem started, I thought it was one of those things, but the problems kept on. I involved my mechanic, even invited more. At the end, I was advised to change the engine which I did, meanwhile I had spent big money prior to changing the engine, as I am talking to you now, the vehicle is parked in mechanic workshop for more than 2 months. The vehicle was bought in 2019.

Stop throwing endless money at that vehicle contact this nairalander, he fixes only Ford vehicles and he will help you get your van back in top shape.
His monicker is Femtopford and this is his contact and garage address.

07069191035,08089670554

Nigeria Airforce vehicle Engineering squadron onipetesi B/stop Agege motor Rd opposite ELDORADO, ikeja,Lagos.

And follow his thread whilst you can and read from page 1 to the end. He runs the thread;

https://www.nairaland.com/2547308/ford-cars-quite-explicit

Hmmm