Goodday. Pls, what business can I start with 1.5m with a steady income in ibadan

olurufi:
Goodday. Pls, what business can I start with 1.5m with a steady income in ibadan

Ibadan is quite expansive and equally super dense. This always translates to the fact that there will always be needs to be attended to....for a fee.

This economy right now is quite unpredictable and as such I don't advocate long term investments no matter how attractive.

Your best bet would be in trading fast moving consumer goods. All the better if you can source, procure and distribute very unique products. Please note that product must be a consumable to ensure frequent and consistent repeat purchases which will in turn assure of a consistent income stream.

Ibadan people are reputed to love cheap items but this doesn't negate their penchant for quality stuff. So look for something being produced and sold in Lagos which is yet to get into Ibadan and then explore the potential it has.

I would like to add that whatever you do please start small. Do a trial run first with about 50k - 100k and based on objective feed back you can decide to take the plunge......but grow in incrementally. If you have mobility (and are not afraid of hard work) then your business will grow phenomenally.

A major advantage in this model is that your money can be turned around twice a week so even if the margins are very low you can still do 10 to 12 cycles with the same amount of capital within one month. The risk is also minimal as there is no third part whatsoever.

Yes, the cost of logistics could be quite heavy but there are ways you can cut down the transport considerably. If and when you are ready to start I could recommend a few viable transportation options for you.

Above all, please handle your money alone. Do not delegate...at least initially.

Best of luck..

You can delve into logistics business with that funds. Buy a small car or korope and start hustling.

Renting shop and paying for furnishing, generator and all that will gulp almost half of that money from you if you really want to go into buying and selling.

Gadgets and accessories business.

You can go into rice supply directly from the producers.
I know some people in Ibadan now who have become wealthy, doing same. But they are in remote areas (after Moniya).

Bionica:


Ibadan is quite expansive and equally super dense. This always translates to the fact that there will always be needs to be attended to....for a fee.

This economy right now is quite unpredictable and as such I don't advocate long term investments no matter how attractive.

Your best bet would be in trading fast moving consumer goods. All the better if you can source, procure and distribute very unique products. Please note that product must be a consumable to ensure frequent and consistent repeat purchases which will in turn assure of a consistent income stream.

Ibadan people are reputed to love cheap items but this doesn't negate their penchant for quality stuff. So look for something being produced and sold in Lagos which is yet to get into Ibadan and then explore the potential it has.

I would like to add that whatever you do please start small. Do a trial run first with about 50k - 100k and based on objective feed back you can decide to take the plunge......but grow in incrementally. If you have mobility (and are not afraid of hard work) then your business will grow phenomenally.

A major advantage in this model is that your money can be turned around twice a week so even if the margins are very low you can still do 10 to 12 cycles with the same amount of capital within one month. The risk is also minimal as there is no third part whatsoever.

Yes, the cost of logistics could be quite heavy but there are ways you can cut down the transport considerably. If and when you are ready to start I could recommend a few viable transportation options for you.

Above all, please handle your money alone. Do not delegate...at least initially.

Best of luck..

OP I think you should listen to this guy, it's very obvious he's talking from experience

Thanks for the info but wch consumer or daily need goods do u think is good to start with, based on your explanations. Thank u

sulaimon22:
You can delve into logistics business with that funds. Buy a small car or korope and start hustling.

Renting shop and paying for furnishing, generator and all that will gulp almost half of that money from you if you really want to go into buying and selling.

Korope is not really viable in Ibadan like Lagos and 1.5m can't land tokunbo korope now, do you have any idea about korope and it's operations? I'm highly interested. Thank you.

Getting a shop and starting a food stuff business is a viable option. No matter what's happening in the world, people must eat.

Look for where to get food stuff at relatively cheaper prices compared to how they sell in your area.

Buy, add your margin, resell and make your profits.
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I wish you all the best in your quests