talented321:
Dear nairalanders, Pls i need your opinion and advice. First i am from delta state and i will be 27 by next year. i have small challenge i want to sort out, so i went into farming late last year about 4 acres of land which my uncle give to me to use for like 3years, so after the harvest i made some cash, and i have bought an acre of land though i have not paid the full money like reminder 1.5m because i don't want to put all my eggs in one basket.
Apart from that the main issue here is i have 1.5m i want to use open either bar&restaurant or bet shop betking to precise, so my question is which one should i go between the two, and will the money be enough? Pls i need advice mostly from those who have experience in this two fields,

Matri xReloaded:

1.5m for bar and restaurant is too poor. Consider your rental space, are you going to hawk your food and drinks? Procurement of electrical appliances, you will find out 1.5m is gone. On the other hand having a bet shop is cool but your gadgets and rental might steal off your investment as a betking Agent. In all keep pushing to secure up to 3m and start up your dream side hustle. All the best lad.

talented321:
Thanks, that is why i asked the question, but thouhg the bar&restaurant is am average one

Exmilitant:
Use 1.m run cassava farm(the 6 month specie) by January you go hit 3m wey the Burger above talk.

talented321:
I get cash for the next farming, but thanks for the update

phorget:


How do I go about farming please? i really want to go into it.

talented321:
Do you have land? land

phorget:


Yes

Streetdoctor:

If u are street niggar, I for say Mak u hit d street with controlled drugs e. G. Tramadol, codeine, cocodamol, Raf etc. U go sell well well

Jennyclay:
Biko, come and take me on an expensive date with the money.

Thank you

Jennyclay:
Biko, come and take me on an expensive date with the money.

Thank you

talented321:
Nazgul,
Thanks for the advice, so like how much should i hold for the bar and restaurant, an average one

Puss360:


Don't open any business if it's not you that will handle it yourself..., Even your family, don't trust them with your business.. We are all Nigerians...
You have gotten 1.5m, save it... Face your business, hopefully it will yield more, then you expand that same business...
One big business, is better/sure than 3 or 2 businesses someone is managing for you....

Foodqueen:
Continue farming.
A bird at hand is better than millions in the bush.

Puss360:
Lol...
Why are we Nigerians always in a haste to invest....?
Investment is good, but you need to really really study the economy and the business... This our economy is not stable...
Try to save!!!
Save!!!
Put your money in Fix deposit...
You have one business, face it, save your profit after removing expenses...
Nobody knows tomorrow...
Don't open any business if it's not you that will handle it yourself..., Even your family, don't trust them with your business.. We are all Nigerians...
You have gotten 1.5m, save it... Face your business, hopefully it will yield more, then you expand that same business...
One big business, is better/sure than 3 or 2 businesses someone is managing for you....

Nazgul:


About trusting people...he's into farming. And Farming isn't a time consuming job, meaning he can always be at his new business and keep checking up on his farm from time to time.

talented321:
Like how many plots

phorget:




Its about 4acres.

Nazgul:

The way most of you call this fix deposit, one would think that it yields billions. Unfortunately, you're just raising capital for the bank to enjoy. They profit with your money and give you peanuts.

Let me explain it better for you

Let's say he fixes 1m out of the 1.5m at a rate of 12% per annum for 3months.

This means that for the 3 months his 1m would be fixed in the the bank, he would be paid 3% of the 1m. Meaning he'll get 30k after fixing 1m with the bank for 3 months.

So would you still advise him to fix his money where he'll be making a profit of 1% (10k) per month or to set up a business that can sustain him and his family?

About trusting people...he's into farming. And Farming isn't a time consuming job, meaning he can always be at his new business and keep checking up on his farm from time to time.

talented321:
Dear nairalanders, Pls i need your opinion and advice. First i am from delta state and i will be 27 by next year. i have small challenge i want to sort out, so i went into farming late last year about 4 acres of land which my uncle give to me to use for like 3years, so after the harvest i made some cash, and i have bought an acre of land though i have not paid the full money like reminder 1.5m because i don't want to put all my eggs in one basket.
Apart from that the main issue here is i have 1.5m i want to use open either bar&restaurant or bet shop betking to precise, so my question is which one should i go between the two, and will the money be enough? Pls i need advice mostly from those who have experience in this two fields,

frozen70:


I commend your efforts and I can only advice thst whichever you choose to operate on be there and don't make the mistake of putting anyone there to over see it for you

You will end up feeding that person at the detriment of your business

GloriousGbola:
Farming is a hands on job. Your workers will mercilessly rob you blind. They will steal you into bankruptcy if you have no means of checking them

Wawelexy:


OP please don't answer this idiot....

Nazgul:

The way most of you call this fix deposit, one would think that it yields billions. Unfortunately, you're just raising capital for the bank to enjoy. They profit with your money and give you peanuts.

Let me explain it better for you

Let's say he fixes 1m out of the 1.5m at a rate of 12% per annum for 3months.

This means that for the 3 months his 1m would be fixed in the the bank, he would be paid 3% of the 1m. Meaning he'll get 30k after fixing 1m with the bank for 3 months.

So would you still advise him to fix his money where he'll be making a profit of 1% (10k) per month or to set up a business that can sustain him and his family?

About trusting people...he's into farming. And Farming isn't a time consuming job, meaning he can always be at his new business and keep checking up on his farm from time to time.