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Which Business Did You Regret Starting Because It Ended Up In Huge Loss - Business (10) - Nairaland

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What Business Do You Regret Starting?? / Which Business Did You Regret Starting Because It Ended Up In HUGE Lose? / Supermarket Owners Rake In Huge Profits Over Closure Of Shoprite In Akure (2) (3) (4)

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Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by newmoney133: 10:03pm On Jul 16, 2021
I discovered a market that has high demand.ice block and cold pure water.I di my market survey .Asked necessary questions.satisfied with my findings.i started going from one coldroom manufacturer to another.A guy in nairaland staying at Ibadan even promised to construct one for me at a high price but I was scared because my location is more than 7hours away from Ibadan.wasnt sure he will be willing to come to my location if it develop fault.I kept telling people till sonebody introduced me to an engineer.I went to the engineer house and saw about 3 powerful coldrooms that he said he constructed for himself.He said he decided to take the bull by the horn when people duped him when he needed a coldroom.we agreed and I pointed the exact one I wanted.when he delivered the coldroom the material he used was different.The takes more than thrice the hours I was told to freeze,started shocking me(I mean shock me when I touch it without a glove)Because my shop was located in a big market In a hot town.customers were already to book but no block to sell.The coldroom started giving problem from day 1.wasted money to repair and NEPA people use me chop me well well.I just woke up one day and i said enough is enough and I closed the business.i think the best business to do in Nigeria is buying and selling

25 Likes 2 Shares

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by iramure(m): 10:09pm On Jul 16, 2021
Kirkman:


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

thank you very much

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by tammyf: 10:10pm On Jul 16, 2021
adonainana:


I’m available for partnership, two heads are better than one +4475 916 939 24
.
Hmm,this ur number dey fear me....y not use ur normal Nigerian number if u mean business

7 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by iramure(m): 10:10pm On Jul 16, 2021
Iyasaburi:


Are you thinking what I am thinking (village people), they could be responsible, you know?
those people could be terrible. I can't totally rule them out. Enemy of progress

3 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by tammyf: 10:11pm On Jul 16, 2021
OKB35:


Ibadan. Both Farm and Slaughtering House.

Too far...I'm in ph
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Kirkman: 10:11pm On Jul 16, 2021
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.

Damn! Man, you shouldn't have packed up that business just like that.

3 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by iramure(m): 10:12pm On Jul 16, 2021
id4sho:

Diesel engine and I guess you had a driver sad
yes, infact I don't want to remember anything about the vehicle

1 Like 1 Share

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Kirkman: 10:13pm On Jul 16, 2021
iramure:
thank you very much
You are very much welcome sir. smiley

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Hamzaay(m): 10:17pm On Jul 16, 2021
HolyTitus:
Do you teach people this stuff? if yes.. please kindly drop your contact make I holla bro. Thanks in anticipation

Check my signature
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by hollywater: 10:27pm On Jul 16, 2021
Mariangeles:

It’s not a scam when you do it yourself.
One thing I’ve learned through this thread is that most people want to make money by letting others run their business for them.
If you want your business to grow, you have to be involved.

It's a crime to invest in a business and ask someone to manage it while you do your normal job? Nigeria is a lawless country if not,he would have been somewhere in Kpanti cooling his head.

11 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Itzi8(m): 11:08pm On Jul 16, 2021
dancok:
like how much the partner will have?


Please can we talk private sir?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Itzi8(m): 11:14pm On Jul 16, 2021
Jaystye34:

Kindly add me on WhatsApp 08186374636..


I already sent a message to you sir/ma.
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by emmanuelchux(m): 11:15pm On Jul 16, 2021
Hamzaay:
Delivery business. People over here no won pay for jobs ooo and the delivery thing is risky so I have to opt into my long time business freelancing and I am making noting less than $1k in a week for a bad days and $4k in other good weeks.


Teach me Master
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by 77star: 11:28pm On Jul 16, 2021
Lamanii22:


Me too
grin grin grin thie.
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by OKB35(m): 11:35pm On Jul 16, 2021
tammyf:


Too far...I'm in ph


OK. Are u interested in a partnership?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Alaganature(m): 11:38pm On Jul 16, 2021
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

Good evening please I would love to work with you in your hotel... please am in need of a job..help me oo

5 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Overthemoonman: 11:38pm On Jul 16, 2021
10kgod:


Either you did it at the wrong time or you invested on wrong coins. I did my investment last year and it's what's keeping me up till today. Just that market is down for cryptocurrency right now... Still yet, profit dey enter
Can I message you, sir?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Overthemoonman: 11:42pm On Jul 16, 2021
showafrica:


No, next time buy and sell by forex trading. You will know when to buy and sell. When the market enter bear, you could have sold and buy again when it enter bull
Can I message you, sir?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Lamba42(m): 11:46pm On Jul 16, 2021
timi4mayo:



Please show me the way...I'm in a mess WhatsApp no's 0.7.0.3.7.1.7.1.6.8.3

I’m interested in learning too!
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Dove18: 11:55pm On Jul 16, 2021
Itzi8:
I was into Beans flour and plantain flour Productions respectively, but the aftermath of the EndSARS protest changed the whole narrative for me, particularly in affording the raw materials for production. Many credit sales,and nothing to show for it today, and now, I've closed down the process, what used to be the talk of the people.
A bag of beans Rose from 35k - 40k - 49k - 55k - 60k - 70k, and the price of a bunch of plantain Rose to 7k per bunch. I had to run for my dear life, cuz it was way beyond what I can manage to operate with, and the worse part is that the customers will never listen to you when there's increment, until then, they will tell you, if you don't want to sell, you should keep it now.

My products stood out amongst major companies within, cuz of it's unadulterated nature and zero preservatives, but it's no more today.

How I wish there's someone, who is willing to partner with me, or willing to tap into the business, with my knowledge, we can do a great job.
Where is your location?
I do palm processing.... There's a huge plantain potential in my domain with zero processing companies at d moment...
Text me (sms) 07030423588
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Alaganature(m): 11:57pm On Jul 16, 2021
Bouncin:
Damn!
So I managed to save 1ml from a contract job. As the contract was about coming to an end, I tried creating another source of income that could replace it so I could continue to enjoy grin But it all ended in premium tears when I was advised to start a transport business.
In the process, I bought a Nigerian used Sharon motor. Omo na so this vehicle gave me the shock of my life. There's no single day it won't break down. I nearly repaired my life out cry . When it became clear to me that I was dieing, I had to sell it not even up to one tenth of what I bought it cry. I almost became hypertensive then. Mehn, it was really a horrible experience for a very young guy like me. What killed me the most is the fact that the person that sold this vehicle to me happen to be someone that I look up to as a father. He assured me that the vehicle is in very good shape. He worked with my mechanic to commit that atrocity. I hate them with passion but I have to move on. I will rise again by grace of God!

Lession: do not trust anyone.


Bro you be comedian

3 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Nobody: 1:16am On Jul 17, 2021
Onions distribution and other forms of food distribution. Nigerians are very distrustful people. I got my hands burnt, that's why nowadays I prefer to spend my money in club and enjoy it than let azaman chop me

13 Likes 1 Share

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by 10kgod(m): 2:05am On Jul 17, 2021
Overthemoonman:
Can I message you, sir?

Yes Sir, it's free world.
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by stanvesco(m): 2:36am On Jul 17, 2021
pedrilo:
I'm afraid you married a fool
Somebody's wife?
Do you even have a stable relationship?

You just open mouth; waaa

17 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Aurelius1(m): 3:28am On Jul 17, 2021
Hamzaay:

Graphics
Graphic design?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by dandig(m): 4:23am On Jul 17, 2021
Magnumproperty:
You see frozen foods business naaaaa no go area oooooooo if u you don't have sufficient capital. Nepa wan kill me for like a week light no go dey. And I'm the only one selling in that area. I regretted doing that business with low capital. Infact many problem dey follow that business.
a lady stopped doing that business in my area after a good start with different category of refrigerators. I thought it was just poor management.

2 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Aniweta00: 4:44am On Jul 17, 2021
Poultry Business
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by SavageResponse(m): 4:55am On Jul 17, 2021
ford101:
no business can strive in ado ekiti. A town that wake up by 10am.

That means it's even worse than Enugu where people wake up by 6am grin

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Jilo83(m): 6:44am On Jul 17, 2021
Football viewing center

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Jessepaid(m): 7:37am On Jul 17, 2021
Hamzaay:


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

That’s my account
would you like to teach me?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Spechialone(f): 7:45am On Jul 17, 2021
No one is compaining about food... Nice one

5 Likes 1 Share

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