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Which Business Did You Regret Starting Because It Ended Up In Huge Loss - Business (15) - 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 Oluwahelpme(m): 8:54pm On Jul 20, 2021
tammyf:

Drop ur WhatsApp cell
Check my signature for my WhatsApp number.
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by OKB35(m): 9:03pm On Jul 20, 2021
Paulo3ree:

I doubt seriously what you are saying, don't be offended please

Don't mind him. I don't think he has ever venture into any business. Talking as if business is like reading ABC. Audio entrepreneur.
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by OlawaleBammie: 9:08pm On Jul 20, 2021
ablejesus26:
Eatery business in Iworoko Ado Ekiti,it was a blunder ��
I have been laffin since bro grin grin grin


UNAD students no gree patronise you ni??
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Paulo3ree(m): 9:31pm On Jul 20, 2021
OKB35:


Don't mind him. I don't think he has ever venture into any business. Talking as if business is like reading ABC. Audio entrepreneur.
Factors that chop the money;
Drive shaft
Shock absorber
Bushings
Wheel balance & alignment
Union dues(some either annually or biannually) and tickets[also multiple taxations dey ooh, ie if you enter stubborn state you may end up paying for same documents you are having with you but now the one with the LGA logo]
License for Radio grin (don't know if that one still dey board cool
Loading fee(could be cost of one or 2 seats)
Irregular settlement of official agboro's in the park(2 to 4 times/wk)...
etc

Wait please, what about feeding and fuelling the vehicle
Let's just stop sha

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by ogo4god: 9:35pm On Jul 20, 2021
10kgod:


Yes Sir, it's free world.

Pls sir i need your contact
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by PhilipReigns(m): 3:21pm On Jul 21, 2021
Paulo3ree:

I doubt seriously what you are saying, don't be offended please
It's okay

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by PhilipReigns(m): 3:30pm On Jul 21, 2021
Paulo3ree:

Factors that chop the money;
Drive shaft
Shock absorber
Bushings
Wheel balance & alignment
Union dues(some either annually or biannually) and tickets[also multiple taxations dey ooh, ie if you enter stubborn state you may end up paying for same documents you are having with you but now the one with the LGA logo]
License for Radio grin (don't know if that one still dey board cool
Loading fee(could be cost of one or 2 seats)
Irregular settlement of official agboro's in the park(2 to 4 times/wk)...
etc

Wait please, what about feeding and fuelling the vehicle
Let's just stop sha

Lol
I understand your analysis
That's why I said you get
First grade tukunbo vehicle
You dont use half dead vehicles (typical of most Nigerian used cars as a result of poor maintenance) for transportation business and expect to make profit. You would only be working for your mechanic.
If you load at the part @2500 per passenger, you re paying 2500 (one passenger's money) not two passengers(this shows you re not into the business nor have u ever been in it), it's one passenger's money everywhere you have a sienna or a bus, that's why it's advisable you own a bus since it capable of conveying more passengers than a sienna. all that I have added to expenses. why would u even mention Union due/registration fee as part of the factors that affects profit, something you do once in a blue moon?... 10k fuel will serve you day (in the absence of traffic/holdup)

The multiple taxation, problem with documents, arrest by officials, licence for this and that and other unforeseen expenses are synonymous with intra state transportation, a situation where one lives in Lagos and runs the business within Lagos only.
Additionally, there re some vehicle that consumes fuel when in hold up, than when on an express and in active motion (Typical of second generation Siennas). Are you aware of that? So using a sienna for intra state transportation in a dead end city like Lagos where u can spend 4 Hours driving from iyana ipaja to oshodi is already a red flag for your pocket

I have a friend who finished payment for his hire purchased vehicle within a space of 3 months, running Lagos to akwa ibom.

10 Likes 1 Share

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Paulo3ree(m): 4:27pm On Jul 21, 2021
PhilipReigns:

Lol
I understand your analysis
That's why I said you get a t
First grade tukunbo vehicle
You dont use half dead vehicles (typical of most Nigerian used cars as a result of poor maintenance) for transportation business and expect to make profit. You would only be working for your mechanic.
If you load at the part @2500 per passenger, you re paying 2500 (one passenger's money) not two passengers(this shows you re not into the business nor have u ever been in it), it's one passenger's money everywhere you have a sienna or a bus, that's why it's advisable you own a bus since it capable of conveying more passengers than a sienna. all that I have added to expenses. why would u even mention Union due/registration fee as part of the factors that affects profit, something you do once in a blue moon?... 10k fuel will serve you day.

The multiple taxation, problem with documents, arrest by officials, licence for this and that and other unforeseen expenses are synonymous with intra state transportation, a situation where one lives in Lagos and runs the business within Lagos only.

I have a friend who finished payment for his hire purchased vehicle within a space of 3 months, running Lagos to akwa ibom.

My good man I have done it years back, driven over 12hrs journey stretch that I barely notice the vibration of the vehicle nor the sound infact I was perfectly in resonance with the motor, even beat charter prices in my dreams due to expectations/need to meet monthly target, load in various parks I only understand naira and money shown to me due to language barrier (atleast not to drive back empty), slept in different parks{states}... .. .
Too many stories/memories sha
[1or2 seats isn't what needs been argued about]

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Smileychoco: 8:30pm On Jul 21, 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.


What is your location please.
I need to ask you somethings

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by gAXclusive(m): 10:32pm On Jul 21, 2021
praiseneo:
Barbing saloon

Infact I wan sell my furnitures and equipment send me email if your interested

Very cheap price
Hit me up on 0 8 0 9 5 9 0 0 1 9 9
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by praiseneo(m): 10:44pm On Jul 21, 2021
gAXclusive:

Hit me up on 0 8 0 9 5 9 0 0 1 9 9
na Lagos mainland I de plus na your WhatsApp number be this?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Overthemoonman: 7:02am On Jul 22, 2021
showafrica:


sure... showafrica at gmaildotcom
I sent a message to your email sir..
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Overthemoonman: 7:02am On Jul 22, 2021
10kgod:


Yes Sir, it's free world.
I DMed you, sir
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Overthemoonman: 8:07am On Jul 22, 2021
Zhengi:
Invested in bitcoin when it’s was $21k
I mean some serious 6figures...

You no the rest

But thank God for affiliate marketing
You still didn't lose na. Bitcoin is still not less than 21k.. I think it is around 31k now...
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by showafrica(m): 10:28am On Jul 22, 2021
Overthemoonman:
I sent a message to your email sir..

I didn't get any bro... You may want to resend the mail
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by 10kgod(m): 3:53pm On Jul 22, 2021
Overthemoonman:
I DMed you, sir

08102780764
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Zhengi(m): 7:05am On Jul 23, 2021
Overthemoonman:
You still didn't lose na. Bitcoin is still not less than 21k.. I think it is around 31k now...

When i did the investment it's fall back to 16k before going up again
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Majestybaba92(m): 7:17am On Jul 23, 2021
hardon1:


If the dog no gree get belle, give am belle ur sef na grin
. grin cheesy cheesy cheesy cheesy
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Itzi8(m): 7:24pm On Jul 23, 2021
Smileychoco:



What is your location please.
I need to ask you somethings


Anambra State.
You can ask your questions please, or chat me on Whatsapp 08030885250
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Average9jaman: 2:46pm On Jul 25, 2021
SamPeeLamen:
You see poultry biz? Run away from it. I started the biz well but 12 weeks later, i started getting fat while the biz was dying without reason, or so i thought. Turns out the biz died cos i ate most of the chickens.

grin grin grin
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by stanvesco(m): 11:06pm On Jul 28, 2021


Ask these people that can pump water out of fish ponds to help you apply LIME to the pond. They know the quantity to apply. After about a week, ask them to pump out water where they added LIME again (some people will tell you it is not necessary to pump water out again because as water increases in the pond, the water will dilute the lime so that it won't affect your fish. But I once saw where the lime was not diluted and it killed all fishes).

Use net to cover the pond appropriately to avoid frog and any other predators from entering your pond.

If water is flowing from nearby pond to your pond, seal it because diseases can pass from a pond to another.

Ensure you get your fingerlings or juveniles from a reputable supplier.

For prevention of diseases, add 5kg of salt to the pond every 30 days. If your pond water turns black or is smelling, stop feeding for about 2 days and give half of what can satisfy them until your water becomes normal. You will get this kind of salt from feedmills. It is cheap, not pure iodised salts o.

Mix fishmycin drug to your fish feed to prevent diseases. If you are using floating feeds, add 2g (gramme) to 1kg of feed. Let say you are going to the pond this morning, measure the kg you want to give and mix drug, not that you will add drugs to what they will finish in a week today. If it is pellets you buy from feed Mills, you can also add drugs every morning, but if the feed is made by you, you will add the whole drug at once the day you make it(I will show how to make your own feed). To add drugs to floating feed or pellets you buy from feed Mills, add small water to your feed to make it wet so that powdery drug can stick to it when you mix. Add 2g of fishmycin to 1kg of feed. A sachet of fishmycin is 100g. To measure 2g, divide a sachet into 10. Each portion has 10g. Divide a portion from the 10portions into 5 again, each portion here has 2g. It's rare to get a scale that can measure in grammes. It's advisable you buy juveniles instead of fingerlings because you are just starting and it's not easy to know how to feed fingerlings if you are a new comer. We use SINKER feed for fingerlings. Use 2mm of floating feed for juveniles for about a month. 2mm floating feeds are usually costly especially if you buy imported ones like Alleraqua brand. Nigerian brands are cheap like 3k difference or more, but imported ones are certified quality which will show on rapid growth of your fish.
Use 4mm of floating feed for about a week. Your fish must have grown to be able to pick 4mm pelletized feed.

It's advisable you make your own feed to ensure profit. I will give you formula to use. There are some feed Mills that will do pelletizing for you once you take your ingredients there. You just buy ingredients at accurate quantity you want and take it there. If there is anyone to be grinded, they will grind it, mix it, and pelletize it for you.

Pellets are also sinkers. So when using pellets, you must be careful not to overfeed the fish or leave uneaten feed in the pond. Uneaten feed will pollute your pond water because they will break down. It's you ask someone to show you how to give pellets and floats to the fish in the pond. An experienced person must physically show you how it is done.

Don't use chemicals to kill weeds around your pond. Use cutlasses to cut weeds around your pond because little spray may get into the pond and rain can wash herbicides from weeds into the pond. Some people spray weeds with herbicides and it doesn't affect their catfish, but some did it and it affected their catfish.

During harvesting, buyers will try to dupe you. Ensure a trusted person that knows about catfish sales is there.


Booked for future reference
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Imustnottalk: 9:41am On Jul 30, 2021
einsteine:


It's "mincing" not missing.

Unlike you, I have ran businesses.

You speak from a position of inexperience. For the Igbo businessmen you talk about, do you know what cartels are? Google the economics of cartel and you would understand what happens if an outsider enters such an industry without the approval of the big players in it. There is a reason most of the people who join this Igbo businessmen in the same industry are those who have been apprentices and are settled to start the same business (usually they are sent to another location different from where they "served" to start their business). I don't expect you to understand (due to lack of both business and thinking experience).

Any business started without a solid USP and a good gap in the market would fail.
bro to much of book dey worry you remember being educated doesn't mean your success in business if you want to successful in a particular business you have drop education and think like a layman then make use of the education when the opportunity comes for that

4 Likes 1 Share

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Imustnottalk: 9:51am On Jul 30, 2021
PhilipReigns:

15k daily, after subtracting fuel and agbero money. No police settlements cos I load at d park, all my papers are complete. Bought my sienna direct tuks (2004 model, second generation Sienna) not some Nigerian used car. So no serious issues besides normal oil change, tyre and other minor things u change in vehicles. Kola (Alagbado) to ibadan @2500 per passenger. 7 seaters Sienna(3 people at d back, 3 at d middle,1 at d front) plus driver(myself) that's 8 passengers total.

₦2500 *7 =₦17500 (*2) multiply that by returning trip, that's 35k total. When I subtract fuel and agbero,food, I still have 15k left to go home with. My wife is a goverment worker, so am able to save 10k daily from it in all things being equal. I go to work everyday, have no Reason to be idling away at home. On Saturdays I get bookings/charter sometimes two families I have to choose one. 70k full day, that covers my Saturday and Sundays earnings, even more than but let's just leave it like that. service my car every 3rd of each month from miscellaneous. ₦6500 for my engine's oil, power steering oil ₦3500(Not everymonth)
Let's do our calculations on my compulsory 10k daily savings only, while ignoring d 5k on top.
10*30 =300k a month.
300*6months= 1.8million (An amount for another very clean Nigerian used sienna)
you are right with this analysis I have worked in a park before,my aunt's husband is the Chairman of the park he makes nothing less 50k everyday from all his vehicles.even the drivers driving those vehicles makes money also . There is money in that business if you get a good vehicle and you maintain it very well

5 Likes 1 Share

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by PhilipsID(m): 4:57pm On Aug 01, 2021
Greeneagles last promised was to start payment of Capital and ROI from 30/07/2021 but up to date no payment made or any message received from their end. It is high time we investors defaulted buy Greeneagles create a WhatsApp group where we can meet and deliberate on way forward or how to get our money back from this fraudsters called Greeneagles. The management's of DHIL, The Map etc knows what they were going through currently as a result of action taken against them by we investors.
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by PhilipReigns(m): 4:25pm On Aug 06, 2021
Imustnottalk:
you are right with this analysis I have worked in a park before,my aunt's husband is the Chairman of the park he makes nothing less 50k everyday from all his vehicles.even the drivers driving those vehicles makes money also . There is money in that business if you get a good vehicle and you maintain it very well
God bless you my friend
You re not a lazy youth and can never be.

Anything you are doing in life and you apply focus and determination must yield the desire result. Nowhere there's money that's easy, according to my late grandpa "See money See Danger" that's how it has always been. Cheers!!!
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by AgentGoat: 4:56pm On Aug 06, 2021
newmoney133:
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 wike 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

The business was not bad na the cold room builder built nonsense that fuvked up.

4 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by nairamaniac: 2:49pm On Aug 17, 2021
Op why didn't you use the male Caucasian as a stud?

So u cross it with other females for some fee/payment?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by nairamaniac: 2:56pm On Aug 17, 2021
Providence2020:
Poultry. It's very practical on paper but when it goes live it slowly grows into a drawn out timeline of heavy expenditure, it's not for the inexperienced or faint of heart. I know how many times I had to dispose off dead birds that were perfectly normal the previous day. The worst part is the market that's very inconsiderate, someone even priced my fuccing birds at 2,500 each. That's after almost two months(8 weeks) of N23,000 per week. Regretful!!

I admit there's other variables that I won't mention here but remember the op says only businesses that we regret so that's it.

My failure in this business and generally most traditional businesses drove me into internet money, I haven't looked back since

By the Bolded, so you mean YAHOO YAHOO?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by nairamaniac: 3:24pm On Aug 17, 2021
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

How do u do this your crypto business?

Is it that you were to trade everyday? Or few times per day?


Cos I'm hearing of people doing crypto business to make money everyday.
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by nairamaniac: 4:19pm On Aug 17, 2021
10kgod:


Yeah.. You can select daily or weekly. Anyhow you like it. But it's investment oooo. You can't start with zero # or $

This is not crypto trading(spot trading and the other one) or what are they calling it.

Pls I am interested in knowing more about this.

A friend currently in south Africa is telling me about something like this thru Fon calls.

But I can't understand it well ENUF via phone

Which one is spot-trading?

Is it something that needs more of luck or a special-method to earn profits??

Can someone loose based on luck going against him in this business?

Lastly, if someone invest with like 300k how much does he make per day or per week??
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Zico777(m): 3:11pm On Aug 18, 2021
Icumsa45:
azaman chop me
grin Baba,abeg wetin be the meaning of Azaman?

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